To be honest my main worry is hack attacks. It happened to dogecoin, and I'd hate to see it happen to another site. Unfortunately it suffers the second problem of plausible deniability; if the site did ever go down nobody would really know why.
If you can find some ways to alleviate those concerns, then that would go a long way in legitimising your site as a convenient online way to transfer Cat Coins.
I hope you understand where I'm coming from. These Coins are gaining a lot of value now.
I think a transaction size limit would be reasonable. That way if the worst did happen nobody would lose a great many coins. You can make it proportional to the amount of users, or difficulty, or whatever. The point is that the site doesn't hold so many coins that it becomes a target or a temptation.
Appreciate the response and suggestion. I know this is meant to be a short term solution for transferring Catcoins for folks. I do not recommend users holding them long term. I think setting a maximum amount that you can transfer would be a great security measure. What do you say? No more than 100 coins? Or no more than 500? 1000?
Give me your suggestions again please =)
I think it should be proportional to the coin's value. So instead of setting a limit by the amount of Cat, set a limit based on the value of BTC cat is currently worth. Currently it's hovering around 0.001 BTC. So a limit of 0.1 - 0.2 BTC worth would be reasonable.
As the site is developed and gets established perhaps the limit could be changed, but the more coins it holds the greater at risk it is, so having a limit makes it a scalable solution as the site is expanded and improved.
