[ANN] Catcoin - Scrypt meow!

[kalus]

Someone is buying all the coins. They are buying them for a reason. We will all learn that reason soon enough.
If the coin was in trouble no one would be buying up everyones sells. There are multiple people buying EVERYTHING that has been sold.

It's pretty obvious what they're doing:  cat is being manipulated, and will be pumped and dumped a second time. 

You want proof?

CAT is producing low coins ... only 1% or 10,000 per day. Perfect to pump up.

Even you're recommending manipulating the value. 

this is nothing but another pump-and-dump.  hang on for the ride.

[skillface]

Thanks for your replies.  So where does the 10 minute block time fit into this?

Well in an ideal situation it SHOULD take 10 minutes per block. At the moment it's at nearly 30 minutes per block, so it currently takes nearly 3 times as long for transactions and payouts to process as it should. This in turn scares people away towards other faster altcoins, which in turn lowers the hashrate further, increasing the time taken per block, rinse repeat.

Currently it's 26 minutes per block, meaning that even with the reduced 60 block confirmation time for payments on some pools, you're still looking at just over 26 hours for payments. Hell even at the expected 10 minutes per block, it would take 10 hours for payments even at only 60 confirmations.

People are seeing these numbers, comparing it to other coins like DOGE (1 minute block time at around 80 confirmations for payments, or 80 minutes) or even MOON (90 second block time at ~50 confirmations, or 75 minutes) and simply shrug and move on.

One of five things will happen at this rate:

1. Whoever is manipulating prices on Cryptsy gives up, or at least allows the price to increase. He/they are probably the biggest reason for the prices staying so low (difficulty has increased nearly 3x yet prices are about the same as the other day). At the moment the entire market price for CAT across the board is being dictated by one or two of the earliest miners who were around at the coin's launch.

2. Someone with massive hashrates (perhaps a larger pool like Multipool for example) needs to turn their attention to CAT. Unfortunately given the absurdly low prices, it's far more profitable at the moment to simply mine DOGE and trade for CAT if you really want to gain CAT.

3. The coin itself might need to be changed to have a smaller retarget time (resulting in a hard fork, which has an extremely high chance of killing the coin altogether, as it would be delisted from Cryptsy and half of the reason people are interested in this coin to begin with is the fact that it's the Scrypt Bitcoin).

4. Demand suddenly jumps 10x, demolishing the 2500+ CAT sell orders on Cryptsy and allowing the price to rise naturally. At this point that's simply not going to happen.

5. Miners keep leaving, block time keeps increasing, the difficulty never decreases, transactions end up taking days or even weeks to process, and the coin for all intents and purposes, dies.

People keep saying that promotion is all the coin needs, but I think you are underestimating how much demand we'd need to generate to destroy the sell walls on Cryptsy.

I think getting worried about a coin that's been up for 3 days on Cryptsy is a bit overdoing it.
There are hundreds of thousand of coins being dumped. This is no surprise and has happened with EVERY coin released.

Someone is buying all the coins. They are buying them for a reason. We will all learn that reason soon enough.
If the coin was in trouble no one would be buying up everyones sells. There are multiple people buying EVERYTHING that has been sold.
Because there is no miner's dumping on the coin it is easier to skyrocket it.

ZET and QRK were easy to skyrocket in the past because miners cannot sell into the buy walls.

CAT is producing low coins ... only 1% or 10,000 per day. Perfect to pump up.

Anyways.. 2 of the last 3 days has seen selling and drops on most coins. This is no surprise.

Well I'm still hanging onto my ~106 CAT, as I still have some hope that something will give. I'm hoping it's just because of New Year's that the prices are so low, but time will tell. There seems to be a 4000 CAT sell wall @ 0.00084 as well which isn't helping at the moment.

EDIT: AND now there's a 2000 CAT sell order @ 0.00083. Great.

[zerodrama]

Just like to remind you all, I microtraded 17.6k doge for 0.01 cat. 17.6k doge = 0.01 btc.

I'd like to sell 2815 + change doge for 0.0016 cat.

[LichGod]

0.007 already at cryptsy. Go go people, will be funny to watch when price will be tripled.

[William Whiston]

0.00059009

Craaaaash

[Zombie123]

0.00059009

Craaaaash

going down!

[YoyodyneSystems]

Timber time!

Slip and slide

[vondi1122]

cheap coins for everyone 

[BitchCoin]

cheap coins for everyone 

Wish I had the money to throw down, I'd be putting up a thousand. Gonna just sit here with my 475 Catcoins and hang on, maybe risk a day trade in an efforts to move up...

[foodies123]

oh wow it really takes that little effort to crash a coin these days ? )) fuck it I'll crash it a little now let's see )

[vondi1122]

cheap coins for everyone 

Wish I had the money to throw down, I'd be putting up a thousand. Gonna just sit here with my 475 Catcoins and hang on, maybe risk a day trade in an efforts to move up...

I'm thinking about going to my cold storage aaaaand...., but no

[johnny_non]

i wonder what it feels like to lose 250 coins like that 

[hvezdasmrti]

3 hours per one confirmation... So one transaction takes whole day. Tomorrow it will be slower than italian post.

[skillface]

i wonder what it feels like to lose 250 coins like that 

I wonder.

I actually profited from that crash, went from ~107 CAT to ~120 CAT. Not bad if I don't say so myself.

[janos666]

3 hours per one confirmation... So one transaction takes whole day. Tomorrow it will be slower than italian post.

I can't remember if DOGE was technically any faster than 8-10 hours.

[foaman]

you cant compare normal transactions with anything that is run through cryptsy.  sending coins from my doge mining pool to my wallet has never taken longer than 1 hour.  sending them from my wallet to cryptsy can take anywhere from 4 -12 hours.  I am invested in cats and doges, one of them will take off, maybe both either way I have a little skin in each game.

[johnny_non]

you cant compare normal transactions with anything that is run through cryptsy.  sending coins from my doge mining pool to my wallet has never taken longer than 1 hour.  sending them from my wallet to cryptsy can take anywhere from 4 -12 hours.  I am invested in cats and doges, one of them will take off, maybe both either way I have a little skin in each game.

it's a cat and doge alliance that's what we need, both of us...
lets make it rain cats and doges

 

[LichGod]

you cant compare normal transactions with anything that is run through cryptsy.  sending coins from my doge mining pool to my wallet has never taken longer than 1 hour.  sending them from my wallet to cryptsy can take anywhere from 4 -12 hours.  I am invested in cats and doges, one of them will take off, maybe both either way I have a little skin in each game.

it's a cat and doge alliance that's what we need, both of us...
lets make it rain cats and doges
https://i.imgur.com/N4R7nSD.png
 

i really love how u put this cat picture in every post

[johnny_non]

you cant compare normal transactions with anything that is run through cryptsy.  sending coins from my doge mining pool to my wallet has never taken longer than 1 hour.  sending them from my wallet to cryptsy can take anywhere from 4 -12 hours.  I am invested in cats and doges, one of them will take off, maybe both either way I have a little skin in each game.

it's a cat and doge alliance that's what we need, both of us...
lets make it rain cats and doges

 

i really love how u put this cat picture in every post

makes it easy to discern if i need to backtrack. i know when i stated something without really having to read all the chatter, and i also don't often speak unless i have something to say

[DJTrey]

Been waiting on a transaction to go through for 20 min. Why is Catcoin so slow???