Topic: [ANN] Catcoin - Scrypt meow! - page 155. (Read 470749 times)

a couple of pools forked the blockchain at t=0h, and much work was lost and there was wailing and gnashing of teeth.  trojan wallets were released when there was no official release forthcoming from the developer.

i barely put any work into the initial mine:  just a few hours with a good pool.  i ended up with a thousand cat i couldn't withdraw until someone got around to releasing a coherent wallet. 

i saw people begging cryptsy et al. to take catcoin so they could trade it.  I saw people hyping this coin while at the same time actively discouraging people from mining the coin.  we can't have it both ways:  either the coin is being traded 'to the moon', attracting interest from miners and pools, or it withers on the vine like it is right now. 

When the coin was announced on cryptsy, more people get angry in the thread when users actually try to make money on catcoin by (gasp) buying and selling coins.  other people actively try to fix and manipulate prices (e.g. 'don't sell below xxxx!'), yet don't see their manipulation as a form of pump and dump. 

fad phase is over.  now it's time for the people with large positions in catcoin to start working for their money.  its ludicrous to blame miners, whales, speculators (basically anyone who doesn't share your financial strategy) for our current state of affairs.  there are diehard optimists in this thread that should be wary with their coins after a few sharks get done with the cat. 

after observing the situation with catcoin i think that there was probably really no premine just some ppl were fast with compiling source since he released it at 23:00 as stated before . so this few ppl were ready to solomine . meanwhile majority had problems with pools. so it was not premined by the dev atleast which gives a big plus to this coin compared to all the other coins who lie scam and hide their premine. maybe the dev didnt even intend to make profits of this and just released  the coin. i think it was same with litecoin years ago. anyway now the mining reward is gettling lower and lower since difficulty is insane so all the coin jumpers abandoned the ship and only cat believers are left who keep the coin alive.
the name is good and the community is strong in this one. with some time i can see catcoin getting serious on the side of the few other good coins.
i believe in catcoin thats why i didnt dump my not that small amount of catcoins.
well lets see what the future brings . i might do a giveaway in the near future to help this coin.
we all gonna make it  

whoops... didn't saw that...

I have an extra one lying around.  PM me with your contact info and I'll send it right over free.....Anything I can do to help the CAT community

dealextreme  => free shipment...  don't know if there fast
http://dx.com/p/pci-e-1x-to-16x-riser-card-extension-cable-15-5cm-length-100061

greetings

Frankly Cryptsy have proven time and time again that they simply don't give a shit. Catcoin could die as far as they're concerned.

The coin exchanges are unlikely to listen. It's a free market system, and free market = more profit for them. I agree the tactics can be very damaging to a coin, but I've seen it said lot of times on this forum that Cryptsy really doesn't give a damn about that.

Anyway, I'm off for the night.

Perhaps we should look at some other sites that accept cryptocurrency and ask that they list Catcoin. Would really help I think.

i thought we could use some good news

Hi,
I was actually thinking of it last night. I will try and add it within the next few days or by end of the week.

Thanks for the interest.

that was the response i got this afternoon...

on a side note someone needs to write an article called Cryptsy a site for trolls "trading at it's slimest"
and then go on to how one person can manipulate the pricing and even troll off all prospective buyers
i think that if it were submitted and published to a few cryptoblog they might change the way their trade system works cause right now it's broken

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.

That's pretty cool. Hope it happens. One more reason for Catcoin. Not a gambler myself, but we need services.

should be adding catcoin in the next few days

That's the intended block time.

The difficulty is based on the average over the previous 2016 blocks.

What happens is chain hopping is causing massive jumps and then sudden drops. Kind of like a biker gang making a mess of a parking lot.

The block time is hard coded into the coin's design, but can be changed for any released coin. Basically, it's sort of the anchor that the coin is attached to. It ties in with the difficulty rate. The network always aims to generate a block every time minutes, and after the next waypoint in the blockchain where the difficulty adjusts, it adjusts based on the hashrate on the network to keep in line with that blocktime. So if the hashrate is high, it makes blocks harder to mine so it takes around 10 minutes to solve. Less hash power, less difficult blocks but still take 10 minutes based on that hashpower.

So the blocktime is directly related to the difficulty in that respect.

Cool news !

Really?

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

Catcoin soon to be accepted at https://pocketrocketscasino.com

If the block where the difficulty retargets is never reached, then the difficulty would stay the same. The difficulty dictates how much hash power it takes for a block to be mined.

Thanks, that makes sense....got my rig aimed toward Catcoin for this phase then

Nope, it would take probably take days per block if it dropped to 10MH/s. If it gets to that point the difficulty will effectively stay at 176 indefinitely, killing the coin outright.

Each miner would get a larger reward from each block yes, but the pitiful block time would cancel that out and then some.