[ANN] Catcoin - Scrypt meow!

[LeoC]

No dude, don't mine, I don't want the fork to happen before my BTC clears god damnit do me this favor LOL
Damn you Coinbase, give me my 10 instant BTC already...
Whatever ill help, I only have a GTX 680 though so the most I can contribute is 350kh with cudaminer.

[1714712407]

1714712407

[userpacman]

No dude, don't mine, I don't want the fork to happen before my BTC clears god damnit do me this favor LOL
Damn you Coinbase, give me my 10 instant BTC already...
Whatever ill help, I only have a GTX 680 though so the most I can contribute is 350kh with cudaminer.

Way to go, Network increasing. We may reach fork before we're expecting.

[Nullu]

I think we'll see some price spiking once the fork happens, so don't worry too much about that. Probably weak hands dumping their cat for quick profit. Once that's happened I expect prices to slowly rise back up more gradually. Big events usually cause events like that, so just don't panic at the first sign of a raised or lowered price. The market will correct itself once the drama has died down.

Anyway, I'm off to bed. G'night.

[LeoC]

I should be popping up on the list soon lol.
Cat is gunna get some much needed CPR

[BitchCoin]

So.........shall we jump back onto the speculation train? What worth are ya'll expectin'?

[Maverickthenoob]

https://github.com/kR105/catcoin/commit/cedd0a0f2765968417825255d3f54f82a0b74cbc

Here's the commit for those that want to review the code changes.

[zakord]

Sp when this 20290 block occurs?
What estimate time?
and how it change if it change anything for minners/ difficulty?

[moonpool]

https://github.com/kR105/catcoin/commit/cedd0a0f2765968417825255d3f54f82a0b74cbc

Here's the commit for those that want to review the code changes.

This looks fine to our pool, updated to this version. We welcome the fork.
http://catpool.pw
Come mine with us so we can reach block 20290 faster!

[kr105]

Everyone, please download the new Windows client available in the OP or recompile your Linux nodes!

[foodies123]

Everyone, please download the new Windows client available in the OP or recompile your Linux nodes!

why installer ?

[Maverickthenoob]

These are important changes. Details can be found here: http://www.catcoins.org/catcoin-fork/

Code for review can be found here:
https://github.com/kR105/catcoin/commit/cedd0a0f2765968417825255d3f54f82a0b74cbc

And a new windows binary can be found here:
http://www.catcoin.pw/catcoin-0.8.7.0-win32-setup.exe
Backup link:
https://mega.co.nz/#!bNolmKxI!OHnQ93xG6RU0e1drlshINTqfmfhz6XA9AEjlzMqWNqc

SHA256: c0248907be0c92da0302f1fd573d6a20f5eefbb443c2b5c51670eaca0f985dea

Virustotal:
https://www.virustotal.com/en/file/c0248907be0c92da0302f1fd573d6a20f5eefbb443c2b5c51670eaca0f985dea/analysis/1388817736/

This is a false positive, all code can be reviewed on github. False positives are common with most, if not all wallets.

@foodies123: KR105 is building a zip for you, it will be up in a moment.

[foodies123]

These are important changes. Details can be found here: http://www.catcoins.org/catcoin-fork/

Code for review can be found here:
https://github.com/kR105/catcoin/commit/cedd0a0f2765968417825255d3f54f82a0b74cbc

And a new windows binary can be found here:
http://www.catcoin.pw/catcoin-0.8.7.0-win32-setup.exe
Backup link:
https://mega.co.nz/#!bNolmKxI!OHnQ93xG6RU0e1drlshINTqfmfhz6XA9AEjlzMqWNqc

SHA256: c0248907be0c92da0302f1fd573d6a20f5eefbb443c2b5c51670eaca0f985dea

Virustotal:
https://www.virustotal.com/en/file/c0248907be0c92da0302f1fd573d6a20f5eefbb443c2b5c51670eaca0f985dea/analysis/1388817736/

This is a false positive, all code can be reviewed on github. False positives are common with most, if not all wallets.

@foodies123: KR105 is building a zip for you, it will be up in a moment.

already installed and waiting to get forked

edit: seems it's having trouble sync`ing ... we'll wait it out and see

[kr105]

Rar file uploaded to the OP.

[LeoC]

GJ, if all goes well I'll shoot you some CATS

[etblvu1]

There is no difference between fast small rock and slow large rock. The momentum is the same. You don't know if they are loyal or fast. That's the problem. There is no way to tell. Also we're not trying to penalize people for choosing different coins. It's the sudden switch, that's the problem. It's like soldiers don't march over a bridge (a pool). The synchronized force can cause the bridge to collapse. The solution is to randomize the force, not penalize it. Buffer it, add some cotton, soften it. Stop treating the miners like two year olds. Some of them don't care about coins, and they have a right not to care. Maybe they have bills to pay. This isn't a college fraternity. It's a community. People come and go for various reasons.

Now, the difficulty level goes way down, and it is easy to mine blocks. The low hashrate loyal miner continues mining through the pool, and he pretty quickly earns 0.054 coins and in the process extinguishes the 0.054 loyalty credits. A non-loyal slow miner who did not earn loyalty credits contributes the same amount of hash to the same pool (jumping in for the easy difficulty), but not having earned loyalty credits during the previous high difficulty era, receives only .027 coins, per rules of the coin.

There is MORE than one coin. The fast hoppers don't leave at high difficulty in one coin. They leave when other coins have lower difficulty. You could have high difficulty and fast hoppers staying because another coin has higher difficulty or lower reward. Then the hoppers would get the reward while the slow loyals of the other coins get half rewards because they couldn't afford the electricity to mine during high difficulty.

What you describe really is no problem, because you can start mining any time you want you will get adequate compensation in coins. There is no "penalty" in the sense of your wallet losing coins. It it just that when you jump in when things are particularly easy, and you have not mined recently when things are hard, your per-minute-of-mining profitability is more boring (cut in half but still profitable). Rest of the time, when difficulty changes are not extreme, you can jump in and out without any effect on block reward values. But it would train people to moderate hyperactive jumping-in behavior during the rare short-term incentives of apparent high profitability. The system/protocol is set up specifically so trying to jump in and cherry pick easy profits fails. The easy profits are reserved for people who provably were around mining during the recent tougher times. They deserve that reward. Otherwise, everything works exactly the same, you believe in the coin, you jump in without checking anything, stay through multiple difficulty swings, and generally, you are credited the full amount. It's just in the rare case you jump in conveniently when the difficulty happened to be very easy, then it's going to seem (just for that one brief difficulty period) like the reward rate is not exciting (closer to typical profit than extraordinarily profitable). Once you "serve out" one difficulty cycle, you are on exact equal grounds as everyone else. This is completely fair and totally temporary. The loyalty credit system does not have a long memory as to who has been loyal (except for the few coins you may have earned more of that you still have sitting in your wallet). There is no systemic problem, and hashrates are systematically modestly adjusting all the time, without the crazy spikes caused by short-term profitability seekers. The incentives are for once matched up with what is valuable for the coin network - its security and stability is better served from longer-term hash contributions that come regardless of difficulty changes - than by the same number of hashes that only show up during easy difficulty times. I doubt anyone does this, but think about it - if someone were to hash Catcoins only during times when difficulty level is high, and stopped mining when it got easy, they are helping the network far more than someone who does the opposite - yet they are compensated far less.

[Maverickthenoob]

There is no difference between fast small rock and slow large rock. The momentum is the same. You don't know if they are loyal or fast. That's the problem. There is no way to tell. Also we're not trying to penalize people for choosing different coins. It's the sudden switch, that's the problem. It's like soldiers don't march over a bridge (a pool). The synchronized force can cause the bridge to collapse. The solution is to randomize the force, not penalize it. Buffer it, add some cotton, soften it. Stop treating the miners like two year olds. Some of them don't care about coins, and they have a right not to care. Maybe they have bills to pay. This isn't a college fraternity. It's a community. People come and go for various reasons.

Now, the difficulty level goes way down, and it is easy to mine blocks. The low hashrate loyal miner continues mining through the pool, and he pretty quickly earns 0.054 coins and in the process extinguishes the 0.054 loyalty credits. A non-loyal slow miner who did not earn loyalty credits contributes the same amount of hash to the same pool (jumping in for the easy difficulty), but not having earned loyalty credits during the previous high difficulty era, receives only .027 coins, per rules of the coin.

There is MORE than one coin. The fast hoppers don't leave at high difficulty in one coin. They leave when other coins have lower difficulty. You could have high difficulty and fast hoppers staying because another coin has higher difficulty or lower reward. Then the hoppers would get the reward while the slow loyals of the other coins get half rewards because they couldn't afford the electricity to mine during high difficulty.

What you describe really is no problem, because you can start mining any time you want you will get adequate compensation in coins. There is no "penalty" in the sense of your wallet losing coins. It it just that when you jump in when things are particularly easy, and you have not mined recently when things are hard, your per-minute-of-mining profitability is more boring (cut in half but still profitable). Rest of the time, when difficulty changes are not extreme, you can jump in and out without any effect on block reward values. But it would train people to moderate hyperactive jumping-in behavior during the rare short-term incentives of apparent high profitability. The system/protocol is set up specifically so trying to jump in and cherry pick easy profits fails. The easy profits are reserved for people who provably were around mining during the recent tougher times. They deserve that reward. Otherwise, everything works exactly the same, you believe in the coin, you jump in without checking anything, stay through multiple difficulty swings, and generally, you are credited the full amount. It's just in the rare case you jump in conveniently when the difficulty happened to be very easy, then it's going to seem (just for that one brief difficulty period) like the reward rate is not exciting (closer to typical profit than extraordinarily profitable). Once you "serve out" one difficulty cycle, you are on exact equal grounds as everyone else. This is completely fair and totally temporary. The loyalty credit system does not have a long memory as to who has been loyal (except for the few coins you may have earned more of that you still have sitting in your wallet). There is no systemic problem, and hashrates are systematically modestly adjusting all the time, without the crazy spikes caused by short-term profitability seekers. The incentives are for once matched up with what is valuable for the coin network - its security and stability is better served from longer-term hash contributions that come regardless of difficulty changes - than by the same number of hashes that only show up during easy difficulty times. I doubt anyone does this, but think about it - if someone were to hash Catcoins only during times when difficulty level is high, and stopped mining when it got easy, they are helping the network far more than someone who does the opposite - yet they are compensated far less.

You're missing the point. Your system is complicated. People need simple. KISS.

[etblvu1]

You're missing the point. Your system is complicated. People need simple. KISS.

Sure. You buy video cards, install drivers, download the wallet, cgminer, set your mining gear to solo-mine or join a pool. I don't know how "simple" this procedure is for the average people out there in the world - but if they criticize it's too complicated, that applies equally to all the cryptocurrencies. And that might be an opportunity to make an easier way to do it.

As for details of how block rewards work, as a user, you really don't need to know anything about how it works. You follow well-documented procedures to do mining, and you get rewarded for your contribution, other people have vetted it's fair, you'll get fair value in coins for hashing work you contribute - you don't need to worry about the details.

However, if you are interested in squeezing out maximum profits, and want to get technical, then yeah, things can seem more complicated. But at that point, you've asked for the complexity. The loyalty credit system may seem complicated, but it's a designed to counteract people who are already engaged in a complicated strategy to take advantage of a weakness in the reward system as it works currently. It will have essentially zero impact on people who don't engage in that complicated strategy.

[moonpool]

https://github.com/kR105/catcoin/commit/cedd0a0f2765968417825255d3f54f82a0b74cbc

Here's the commit for those that want to review the code changes.

This looks fine to our pool, updated to this version. We welcome the fork.
http://catpool.pw
Come mine with us so we can reach block 20290 faster!

<<@catpoolbot>> BLOCK FOUND: 20276 | 1536190 shares | Amount: 50 | Found By SeriousSam

14 blocks to go until fork, come join us so we can get these faster!

[Maverickthenoob]

You're missing the point. Your system is complicated. People need simple. KISS.

As for details of how block rewards work, as a user, you really don't need to know anything about how it works. You mine it, and you get rewarded for your contribution, other people have vette it's fair, you don't need to worry about the details, period.

Needing to know and wanting to know are two different things. A lot of people would like to say "hey, it's retargeting in x blocks", not have to pull out some paper and do some algebraic formula to figure it out.

Also, you are trying to interpret human behavior with code and are trying to "reprogram" human behavior (as you put it). This is a fundamentally flawed and short sighted approach. I realize setting a static value has its drawbacks, but the code complexity you're talking about adding is a hundred times worse than just a static value that's a 95% solution. Why make it so complicated? Miners are not moving around together as a group, their distribution and unpredictability make your method nearly impossible to implement in a reasonable amount of code. Please demonstrate how you'd accomplish this in a reasonable and uncomplicated way?

[etblvu1]

Miners are not moving around together as a group, their distribution and unpredictability make your method nearly impossible to implement in a reasonable amount of code. Please demonstrate how you'd accomplish this in a reasonable and uncomplicated way?

We'd simply insert a call to a function or a method right before the block reward amount to recognize for a particular block solution is finalized (this would be done by all the nodes), to check if the reward amount should be halved for this particular block solution reward or not. If not, the program executes the same as before. If it comes back yes, then divide the block reward by 2 but other than that, the program continues executing the same as before. Now, what would this function do? First, it would check if the extraordinary conditions exist (e.g. the current difficulty is more than 50% easier than the last difficulty). Extraordinary conditions would not come up too often, and if it hasn't, it would return false (difficulty fluctuation is normal, we don't need to engage the compensating mechanism). Now, if we detect the extraordinary circumstance, then we'd step back through the blockchain to count the number of block solution awards generated and credited to the same address during the last, higher difficulty phase (call it lastPeriodCount), and in the current, easier difficulty phase (currentPeriodCount). If lastPeriodCount < thisPeriodCount, then return true (cut reward in half). Otherwise, return false (don't cut in half).That's the full extent of the complexity of what I am proposing in terms of what the code would need to do at the coin network level - maybe 30-50 lines of code (if that). Pools would then factor this into how to distribute coins to miners. Showing that this mechanism is in operation in the pool and wallet UI is optional. I believe this is so powerful that it will become implemented by all the altcoins (and even Bitcoin itself) sooner or later, and will end the era of jumping coins minute-by-minute to try to maximize profits. It eliminates the need to keep changing around difficulty adjustment parameters to try to outfox the minute-by-minute coin hoppers - their paradigm is permanently defeated. After this change, long-term incentives would match up with short-term profit maximization. Both would agree that the correct strategy is to switch coins no more often than every few weeks or months, based on reassessing the various coins' long-term positioning and potentials, and the primary strategy would be to mine-and-hold, rather than mine-and-dump-on-the-exchanges. This is bringing back the original dynamic of Bitcoin miners, before there was any such thing as an altcoin. With this dynamic, market capitalization of cryptocurrencies can then truly "go to the moon," and we'd just be duplicating what was successful before.