Topic: [ANN] Catcoin - Scrypt meow! - page 125. (Read 470764 times)

first, by changing the parameters of catcoin, you won't save catcoin, you'll replace it with another coin that is also named catcoin. the catcoin that we all invested in a week ago will not exist anymore.  

second, the economics of changing the currency when we feel it isn't worth as much as it should be, and it's too difficult to wait 126 days for a redifficulty adjustment:  these are not economic arguments either:  they play on people's lack of patience.  

The market cap is VUDU. Wall Street is irrelevant. Coins evolve a bazillion times faster than Wall Street. Miners are either partying or earning a living. The latter group doesn't care about the Market Cap or the future value or the coin at ALL. All they care about is mining and selling.

They will exclude dumpers because the dumpers will have a MUCH shorter time to sell their cheap coins and those WHO are holding will have a much shorter time to suffer through it.

The personal attacks are unnecessary. I'm well aware you agree with him, I'm also well aware that it is world class levels of stupid TO agree with him.

The math is simple, lets see if you can follow it.

First off, the price speculation is irrelevant at this point, but the coin is high block time low reward, which inherently makes it more valuable than spamcoins, like doge, at least on a per unit basis. This is common sense. What's most important out of this is The coin isn't getting confirmations which essentially means it's dead. Putting that aside for a moment, lets look at the numbers that prove that:

There are 2016 blocks between retargets currently, we are on block 20269 and the retarget is 22176, meaning we have 1907 blocks remaining before the difficulty returns to normal levels. At the current hashrate (assuming it doesn't drop like a rock, which it is) at the current rate of a block every 1.5 hours (avg over last 12 hours), that means we have just a little over 119 days until the diff unfucks itself, people are NOT going to wait around that long mining an unprofitable coin.

It also means that transactions are taking a minimum of 4.5 hours to confirm to the exchanges and NINTY hours to confirm from even the shortest pools. This is unsustainable, and if you see it any other way you should get yourself checked for delusion.

We are not changing anything about the currency other than letting the difficulty recalibrate more often, protecting us from the huge pools that hop around. I'm really not sure why you're so angry about this, there's just no other way to keep this coin alive.

And during that time you could mine 10 BTC in a few hours with a single CPU thread, and have them confirmed in an hour. BTC would be dead at launch in today's environment (as CAT pretty much proves).

The next retarget will NEVER be reached by the current wallet users. CAT is dead until it's forked, because it currently can't be mined, traded, spent, bought, or given away, or anything else you do with a currency.

It's already been stated he's having difficulty getting on the forum due to the timeouts. He's been active on the IRC channel.

Kalus
At current diff, re-target will happen in 4 months.
If the Hashrate go down even more (and it will, as mining is not profitable), you will need loads of time (days?) to get any confirmation on sent coins (sent anywhere...from pool to wallet, from wallet to exchange).
If Hashrate go down even more (and it will, as mining is not profitable), 4 months needed to re-target atm will change into year or more.

Who will then use or buy this coin and for what purpouse?

They won't. Pumping and dumping will continue, like with all other altcoins. The difference will be that the coin will also have a chance to grow longterm. Every altcoin, like stock, goes through phases. Unavoidable. At least we'll have a coin that's growing, rather than declining. That's the difference between a good or bad altcoin. Pumpers and dumpers are part and parcel of the free market.

really?  hang out in the middlecoin thread for a few minutes. 

After the fork it will be faster.


It doesn't SIGNAL anyTHING. The miners let the POOL decide for them. Most twitch miners aren't watching the blinkenlites. They are out skiing in the snow. They are not babysitting their mining.

https://bitcointalksearch.org/user/kr105-12229


No post, no info. Totally irresponsible person.

I've basically outlined exactly why the Fork will save Catcoin. Those who are against the Fork are not provided any sound economic hypothesis as to why it's a bad idea, except that we'll get another pump and dump; everyone altcoin gets pumped and dumped. Catcoin's been through it a few times already, and still kicking. Pump and dumps can kill an altcoin, yet here we are, still with an active community and a sound plan to save the coin, and it's still all doom and gloom in here.

After the fork we can finally get Catcoin mined again and some real stimulus in this currency.

Everyone needs to chillax, it's happening Meow whether you like it or not. People can bitch all day but what is going to happen is going to happen. Everyone was balls to the wall at the start and supportive, we all need to get behind what is going to happen or feel free to see my wallet below to get rid of your useless Cats.

can you tell me how you will throw out pumpers and dumpers?  the market cap itself, not the protocol, makes the coin vulnerable to pumping-and-dumping.  you can't find a technological solution to a social problem.  

can anybody explain how these fundamental changes will exclude pumping and dumping?  the rest of wallstreet would also like to hear about your idea.  

People do not want to wait for COINS to ARRIVE.
They want them now.
They're no good BEING unconfirmed.
Multicoin Miners are not HOLDING onto them.
Multicoin Miners want fiat.

There is no POINT for twitchy miners to MINE a STUCK coin. They are NOT INVESTORS.

No. The investors will stay. The pump and dumpers will go. Once the coin's difficulty can change more quickly based on the hashrate, the coin's value will be more directly proportional to the difficulty; if the value goes down, THE COIN BECOMES EASIER TO MINE. Right now this isn't possible. After the fork it will be.

We're stuck because we can't get out of the current difficulty. If the coin does lose value, because of the change after the fork it will become profitable to mine, which then brings back more hashpower, more miners, and the value goes back up.

lol didn't you just say


ahahaha i call bullshit on your somatic bullshit.  

however, what motivates a miner to mine right now when they know the difficulty will drop the next day?  why not mine something profitable today?  by stating you'll drop the difficulty to  bring miners back, in effect signals to the mining community they're losing money if they do ANY more pre-fork mining.  

self-fulfilling prophecy!

I would maybe get what you're saying if we were about to change block rewards or something else which would affect coin supply and therefore coin value. Fixing the retarget time is just adjusting to the glaring block time issue, which was showing before there was any talk about a fork. This was brought up because of the issues, not the other way around.

it took bitcoin more than 126 days to reach $0.05USD.

you rode the express train up, and now you're LOL you have to 'wait it out'?  

you support my argument that sustainable, long-term growth in the currency is not what most people want.  

after the fork, the catcoin community will see a small jump in the price, then this investor type will jump ship for the next profitable coin.

Bullshit. You just mine. And they confirm. Simple.
And Bitcoin would have failed today with 2016. I had a different idea but I can negotiate.

YOU DO NOT LOSE COINS IN A HARD FORK. WHATEVER YOU MINE YOU WILL STILL GET.

"networkhashps" : 275464180,

If the coin's value continues to decline, then less people will mine it. Eventually it will take a ridiculous amount of time to transfer CAT coins due to the time between solved blocks. It's all well and good if you have them on an exchange, but without fast transactions the coin isn't going to circulate, and it'll be finished. Nobody wants a coin you can't use. The exchanges aren't the sole driving force. They require coin miners and coin users.

Take away any one of those 3 and a coin will die. It's relatively straight forward. Anyone who thinks this coin will increase in value because of scarcity isn't looking at the big picture; nobody will buy CatCoin if they can't do anything with it, and the people who hold onto coins for long-term investment aren't going to drive up the price, because they aren't selling.

People will keep buying up the coins as the price drops, and then it will die. It would take too long to use, or put back on the exchange, so there would be hardly any market activity.

Cryptocurrency relies on several factors in order to grow, I guarantee if this fork wasn't going ahead the coin would die a slow and embarrassing death. Thankfully the fork is going ahead, and the coin will be saved. Anyone arguing that we shouldn't fork aren't proving sound economical principles. Anyone praising the fork too much are probably just going to dump it at the next price rise.

The remaining people are holding onto their coins, or buying now hoping that the fork will finally make CatCoin soar. These people are in the minority. I being one of them. I have 500 Cats. It's not a huge amount. Half I mined at launch, the others I've been given, or bought, or been awarded for helping the community. I haven't a huge amount to lose, but I would have a lot more to gain by holding onto my coins and helping CatCoin grow. Anyone else who wants a small long-term stake in Catcoin is just better off buying it when it's cheap, and avoiding the high price dumps. However, the price dumps do mean the coins come away from those who aren't invested in Catcoin, into the pockets of those that do, so in a sense now perhaps is the time to put your money where your mouth is if you do think Catcoin has a future.

If you don't, just sell your coins and move on. Nobody wants to hear the negativity anymore. We just want to get on and move ahead.

So if you want to know what my position is; Fork and long term investment with a modest stake in CatCoin's future.

What makes this coin different and not like the crapcoins is that although there are some pumpers and dumpers, like with any altcoin, a lot of people are also heavily invested in this currency. It's these people who will drive Catcoin forward. Not the people in it for a quick buck.

The amount of people who want this currency to succeed far outweigh the sceptics and lazy profiteers.