The network will be fine though some fat cat miners may tell you otherwise because they like how much more money they make mining CAT at the present difficulty.
What real investors in CAT need is a reduction in supply. Most miners don't really care about supply and if we're being honest, most miners don't really care about this coin so long as they have somewhere else they can make more money. CAT isn't an investment for them, it is just a cost benefit analysis. Real CAT investors should welcome higher difficulty since with higher difficulty our CATS will become more valuable. Higher difficulty dictates higher value. The difficulty on Bitcoin keeps rising astronomically though people don't balk about that and complain that the algorithm should be changed.
So in summary, higher difficulty is a very good thing.
Can the network become less stable, if miners leave after difficulty recalc? -> there is no guarantee yet the CAT new demand gets large enough to offset weak holders dumping for the next 64 days ...if the CAT price doesn't stabilize at higher level the difficulty could be a real risk. So the issue is perhaps to make the jump less dramatic.
thanks Reece for reflecting, highly appreciated!
What real investors in CAT need is a reduction in supply. Most miners don't really care about supply and if we're being honest, most miners don't really care about this coin so long as they have somewhere else they can make more money. CAT isn't an investment for them, it is just a cost benefit analysis. Real CAT investors should welcome higher difficulty since with higher difficulty our CATS will become more valuable. Higher difficulty dictates higher value. The difficulty on Bitcoin keeps rising astronomically though people don't balk about that and complain that the algorithm should be changed.
So in summary, higher difficulty is a very good thing.
We need the extra difficulty... The market is completely flooded with dumping miners. The only way for prices to go up is for supply to be restricted. Since it is seemingly impossible to convince many CAT miners of this fact, the only way to end the present onslaught is to reduce the supply of new coins entering the market.
The harder these coins are to mine, the better. Less supply means higher prices for those who own them. More price means people will find it just as profitable or moreso to mine than it is at present.
The harder these coins are to mine, the better. Less supply means higher prices for those who own them. More price means people will find it just as profitable or moreso to mine than it is at present.
Can the network become less stable, if miners leave after difficulty recalc? -> there is no guarantee yet the CAT new demand gets large enough to offset weak holders dumping for the next 64 days ...if the CAT price doesn't stabilize at higher level the difficulty could be a real risk. So the issue is perhaps to make the jump less dramatic.
thanks Reece for reflecting, highly appreciated!
You are contradicting yourself : In one hand you say that most Cat miners don't care and will jump boat if difficulty is high or rather revenue is low (much less coin with high difficulty and the price will not necessary rise and if it does it will not happen instantly which will push miners to leave) and on the other hand you say that it's good, if miners leaves the coin is as good as dead especially with 64 days for next difficulty adjustement.
Let me set things straight, if you are saying that I'm one of the big miners, then rest assured, I have less catcoins than 99% of the people here which is less 200cats, my hash rate is 300-400kh/s so no you are totally wrong
Also no one is saying the difficulty should not increase, that's not even the point here, read previous comments, all we are saying is instead of a dramatic increase that might just kill the coin and you can flush your coins to the (toillet) computer bin it's better to have a more saistainable increase x1.5 to x2 sounds reasonnable, it will give a certain amount of time to people and prices to adjust smoothly and to have the next difficulty attainable in a reasonnable amout of time aswell (if the hash rate remains as high after, it will be a matter of a couple of weeks or even less
@CatCoinForums,
please look - if you promoted Kuromans views instead of promoting your forum, we wouldn't be in this situation. (and it would have been better for your forum in the end)
