Topic: [ANN] Catcoin - Scrypt meow! - page 129. (Read 470764 times)

Quick Start

Start with registering on our pool & creating workers for your computers. You can use our automated config generator in our workers page and download pre-configured files for your mining software.

EU Stratum Server: stratum+tcp://eu.coinum.org:3336
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CGMiner Configuration

Here is sample CGMiner configurations with fail-over support. Given that the stratum server you use fails, your miner software will continue to work with out other stratum server.
Note: You have to change WORKER and PASS with your actual worker-name and worker-password values you get from workers page.

EU

US

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It really isn't a human problem. It is a code problem. Humans are responding to the faulty economic incentives created by the code. Right now, with the way the coins function, if you mine "profitable" coins of the split second and dump it on the exchanges, you do end up accumulating more coins, than if you loyally mine your favorite coin. If the code stops giving economic incentives to behave in this way, humans will stop behaving this way. We really should not be satisfied with coin software which embeds economic incentive for users to act in a way that is destructive to the value of the coin. We are so close to achieving a perfect solution to this problem, it would be a shame if some other coin were to be the first to implement it.

The pools would calculate the profitability of the coin based on the formula that the coin is worth 25 coins per block. Using standard profitability formulas, this would show the coin as being only half as profitable as it would be for loyal miners. Thus, multipool type services would choose not to mine this coin,because it appears unprofitable, or if they forget to change the value to 25 coins per block, they would have some explaining to do to their userbase who is looking to maximize profits, and they seem to keep getting a low number of Catcoins. And in any case it does not harm the network that much, because other multipool type sites would pop up that specifically avoid coins that implement Loyalty Points because it attracts users not to end up with a low number of coins. While the coin jumpers receive 25 coins, the loyal miners are getting the benefit of 50 coins during easy difficulty times. People do respond to incentives. People do not set up elaborate multipool type systems just to complicate their lives - they are actually trying to maximize profits for their mining rigs. Deny them the profits, and they will seek the profits elsewhere. But in short order, as coins implementing Loyalty Credits soar in value, while other coins lose value, all the coins will in short order implement this change or find they cannot survive. So jumping around by the minute hunting for profits, will become a thing of the past. It is not human nature to coin-hop - it is human nature to try to eek out maximum profits - and when the code stops incentivizing people to behave this way, they will just pick a coin to be loyal to, and set the rigs to mine there, and forget it. This is how miners should behave, and will behave, once the Loyalty Credit system gets implemented. And this will help the entire cryptocurrency movement. And as a bonus, for people who report coin income to the tax authorities, mining a coin and holding it long term can result in favorable long-term capital gains treatment, whereas engaging in mining-dumping-buying behavior presumably would not.

You mean like the one attempted on day #1 by the pools? Count the git trees...

The oscillation problem is a human problem not a code problem. You will have to keep babysitting these Adderall Jihad miners no matter what you do. You will end up with multiple oscillations where you had one before. And eventually all of them will only get 25 coins per block because the coin hopping pools will not bother to adjust to this.

Also the address in the client does not correspond to the pool mining address. There's going to be a shitstorm of synchronization issues and simpletons screaming they were scammed. I understand what you're trying to do but people are extremely short sighted especially during an already existing panic.

You. Can't. Fix. Human. With. Code.

You can adapt to it, though.

Let this coin burn like hell!  

appreciate your actively involved into the community push! may the CAT be with you

To them this is basically to update the wallet, nothing else, and yours coins will be safe in the exchange.

There is no problem with fungibility, because each block solution reward claim event, deterministically creates exactly 25 coins or 50 coins, based on deterministic conditions, which can be independently verified by each node by analyzing block chain data, creating a network consensus on exactly what was created. Once the coins are created, it can wait the usual time to maturity, and can be spent, without there being any difference in quality between coins that were mined as part of a block of 25 or as part of a block of 50. All that is required is for all the nodes to agree on the conditions under which a successful block solution results in a credit of 50 coins, or in 25 coins. The loyalty points are ephemeral non-traded fictions which help the miner know whether they'll get more coins or less coins during the next easy-mining era, provides much needed morale boost (and assurance of rewards to come) to keep mining during the difficult era, and gets zeroed out after that, so there is no issue with fungibility between this and actual Coins. In pools, this would just be tracked like any other account balance is tracked, and there is a deterministic solution to how much a miner should be credited in coins, depending on whether or not they accumulated Loyalty Points (i.e., they contributed hashes while the special difficult conditions existed which created Loyalty Points). Forward thinking pools would realize this logic will eventually be implemented by all altcoins and even Bitcoin itself (because it inherently has to help a coin succeed), so they will invest the resources needed to code support for it. And once they do, they would naturally support Catcoins as the first coin with the Loyalty Credit feature in place. As other cryptocoins implement this feature, they can simply apply the same logic to them. Eventually, this would become universal, and quick and easy profits would be a thing of the past, and miners would mine coins based on what they believe will be the most successful long-term. They would generally engage in mine-and-hold behavior, not mine-and-dump behavior. Maybe the exchanges will hate this change (reduced dumping transactions), but this will be good for the entire cryptocurrency movement. Pools that don't implement Loyalty Point logic would simply go out of existence, because nobody would choose to mine there.

I agree that implementing this would be more complex than simply changing the difficulty retarget parameter. However, changing the difficulty retarget parameter is addressing only one of the symptoms of the problem (perhaps a pressing one - the very low hashrate we see right now), but not the root cause. That is why I would support lowering the difficulty retarget as a temporary solution, while a permanent solution to the harmful oscillation is worked on. I would not support it as a permanent solution in itself, because it does not actually solve the oscillation issue - we need to get out of the vicious cycle of miner-dumpers mining our coins when it is easy to mine, then dumping it on the exchanges. This dynamic is suppressing the value of altcoins because the only way any cryptocurrency gains value is by more and more people choosing to hold it. When people mine coins they believe in, they tend to hold it. When people mine coins for the purpose of "profit" they are inherently dumping it. By implementing a change where only loyal miners mine a coin, very few coins would end up in the exchanges on the sell side, and this would drive the prices up. I believe this is the dynamic by which Litecoins is maintaining high value relative to other altcoins because very few people mine Litecoins and systematically immediately dumping it. I believe we can benefit by the same dynamic, by completely solving the difficulty oscillation problem, i.e., by getting rid of incentives for temporary easy mining and dumping, from our beloved Coin.

Maybe a new thread with poll?

That's why I am only offering code. Some people have no idea how harmful a hostile fork would be.

I'm concerned it introduces non-fungibility even if it's an abstract case. We have to get miners to grow up. Pools can do it to some extent but I don't see it happening in the network.

Also consider that everybody is generating fewer blocks during the difficulty. You're trying to force miners not jump coins. It's much simpler to temporarily drop the retarget rate. And it will result in fewer debates by developers. Also the simpler it is the more likely it is to be adopted by other coins.

Whatever is done, we need to wait until the original dev chimes in and reach a consensus.  A "hostile takeover fork" will kill this coin.

I have almost 30 years of coding experience, having learned about 20 programming languages, mostly in the Apple and Windows environments. I am unfortunately not at the right expertise level in C++ or Linux to directly contribute code, so I can only contribute at a more pseudocode/abstract level. But believe I do have a pretty good grasp of coding fundamentals, and the logic of what we are talking about. I would be happy to describe how this could work in more detail, but I am not certain this thread is the best place to do that...

But I'll describe it generally, and maybe you can see it can work. The "loyalty credits" would be implemented as a user interface fiction, and each time the right conditions exist, it would just increment the value as a local variable in RAM +50, and get subtract -50 under the right trigger conditions, and zeroed out under the right conditions. The actual way this would be implemented underneath the skin, is that when a block solution is submitted to the network, the network would know which address is making the claim for the block reward, and each node can independently check how many block solution this particular address submitted during the recent difficult era, how many claims for block reward the address has submitted during the current easy difficulty era, and can compute whether to credit the 50 CATs or only 25 CATs, based on this verification step. This computation would be a matter of provable consensus, computed independently by each node without any extra coordinating needed, and correspond to the Loyalty Credit fiction shown on the user interface. The pools can do the same independent computation as solo nodes.

I have been here for a few days, which is pretty much the entire lifetime of the coin. I tried to get in by mining at the beginning, but could not get the QT client to work, until difficulty was nearing the end of the Difficulty 64 era. I got most of my coins by trading in other altcoin (and some bitcoin). I have been actively participating here for a few days, and have been actively working on presenting solutions to the current problems. I believe I have the luxury of more time I can invest in this than most people, who may have jobs or responsibilities which limit the time they can participate, and I believe we should respect that not everyone can put full focus on this coin just because they may have invested into it. Some people may be dividing their investments among many coins, and cannot afford to invest too much time on this coin. I believe we have quality people here collaborating to solve the problems, and there may be disagreements (and a few trolls we can try hard to ignore), but I am optimistic that we will see a good result.

please explain how it helps the coins survive when we show our balances.

i also have more than 1k and ready to build up stock and hold them for a long long ride, not only a month
for short term profit.

There is no way to manage the synchronization of pools and solo miners.

Your solution identifies the problem but it is not network scalable. It's micromanaging.

I can emulate it perhaps, but it has to be a more general adaptation.

I am just curious, guys. I saw here several people with more than 3k CATs. Why did you show up only now when coin got in this situation? We could easily prevent it with your help a little bit earlier.

Specs based on the value from the year 2140 are ridiculous. Quantitative vudu.


Then what's the point? There is no reason for it to exist without the Bitcoin specs. There are over 100 of these coins with only some differences and pretty much it's the communities behind them that make them worthwhile.


It checks if difficulty is way too high and drops the retarget. This is independent of the retarget. When the emergency is over, it brings it back toward 2016.


Bitcoin is owned in majority by feds and the people behind it whine about non-commercial uses. It's dead as far as innovation and the community in Bitcoin is literally the least inspired I have ever seen.


At least you're honest about your priorities. I can respect that, to a point.


The scarcity you are talking about is delusional. It's an entirely different coin for one. I'll be happy to release LeoCoin if it'll make you happy. I'll need to do more research for that.

Scarcity for something that just started is literally a scam.

Also you can NEVER balance against coin hopping miners who do nothing but dump. They have no creative input and they create communities resistant to creativity. As long as the default activity of most miners is to dump, then the default nature of every coin is to fail. Let those miners grow up and buy things or set up shops. They're nothing but a curse.

So, some people says they got private messages from the developer and he allowed them to act on their own.
Nice!
I just got an encrypted message after I signed an NDA, so I can't say anything more, but: Prepare for some unforeseen consequences!