Topic: [ANN] Catcoin - Scrypt meow! - page 169. (Read 470749 times)

Until cat gets a real market for spending your idea is one of the best shots we have of keeping it alive +++++1

Also happy new year

Unfortunately a lot of alt miners are accustomed to very quick confirmation times. I've seen people quit mining cat because they felt ripped off by the pools after not receiving any coins. With the current hashrate, mined coins will be available for the miner after 30 hours... I'm pretty new to cryptos as well, but when I first started mining I read up on how the system works, but I've instructed a lot of new miners in pools and a lot of them don't even know what confirmations mean and how it's tied to block time. Pools really need to at least make it very clear that miners will get their coins eventually, or they'll just give up. We can't really afford losing much more hashrate, 45 minutes to make a deposit is already pretty long for traders as well.

Yes, a hard fork is what I am suggesting. However, such a move tends to be chaotic and distresses the community which has potential risk in and of itself.

Personally, I feel like this would be the correct move. The changes I would propose are:

                Change coin rewards to 5 coins every 1 minute keeping max amount the same (as well as the rate of distribution)
                Change difficulty retarget to every 1440 1 minute blocks (Once every 24 hours)

This leads to much less of these problems with the difficulty and also eliminates the problem of having super long block confirm times.

It will be a risk to do the hard fork but I personally think it is the best thing that can happen to CAT and I have my money where my mouth is as I own almost 6000 CAT myself.

I hope the community will consider these concerns that I have brought up and work together to improve this coin.

Can't this be done? Isn't this what is referred to as a Hard Fork?

In big markets like BTC where there are a lot of "chartists" (People who think they can predict stock movement based on historical price movements), it becomes like a self fulfilling prophecy where a shape appears and a bunch of people decide it's time to buy/sell thus moving the price in that direction. In most altcoin markets, this doesn't exist since the market is too small.

In these markets, ONLY supply demand rules over everything else. As people have pointed out correctly in this thread, the fact that there are few coins being mined means that supply is shrinking. If demand is constant or goes up, then yes price will indeed go up.

The problem UNIQUE to CAT is that it's block confirmation times copy that of BTC which as I stated in a previous post is a MISTAKE. You want demand to go UP for price to go up. But as blocktimes increase, people will be LESS inclined to trade CAT instead of say DOGE or Kitteh with much shorter confirm times. Because of the annoyingly long block times, demand is currently stagnating. Having 10 min block times is not a good idea even if it copies BTC because one of the most fundamental improvements altcoin added to crypto was having SHORTER block times, thus this is a regression and not an innovation to go back to 10 min.

If demand doesn't go up because of this inconvenience, and supply continues to shrink. Price will STILL not go up. Instead volume will decrease and slowly CAT will die.

I don't want this event to happen, I pointed it out previously that CAT should have had 5 coin block rewards at 1 minute intervals to compete with other coins. If this can be changed somehow, CAT demand will increase and it will have a chance again.

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That makes it really hard to speculate whether the coin will increase or decrease in value. Do the stock charts bear any indications similar to stock exchange charts?

Coins are different from the stock market in that there is a projected future cash flow from ownership in shares of companies. Coins are purely a speculative vehicle and thus "corrections" that occur when a stock crashes due to its price way exceeding the fundamental value of the company can not happen in this market. If people truely "believe" that CAT is worth any amount, it will be worth that amount here, there is no cash flow to be concerned about, it's just pure supply demand. Thus "manipulations" don't always lead to a "correction" since once the price goes up, if most people accept that price as the new "correct" price then it is in fact the correct price and there is nothing that they can prove them otherwise. Added to the fact that all these coins have super low market caps and a lot of whales moving in and out and playing the daytrading game means that you can't confidently say price reflect market sentiment even. It's what makes coin investing so risky and fun as well as lucrative.

tl;dr Coins have no cash flows attached to them, thus price doesn't tell you anything about the "value" of the coin at any given time.

In theory the market can correct this because of increased demand due to decreased supply, which increases the coin's value and therefore becomes more profitable for miners, bringing back hashing power. A lot of miners just mine what's profitable, rather than speculate.

It is New Year. Lets wait 1-4 days.

You can not artificially manipulate the price indefinitely, unless you have infinite deep pockets, but it can be done for a while, but in the end supply vs demand rules

Guys im actually scared that net hashrate is dropping, 0.8ghash already. Isn't it very bad for catcoin?

I'm not sure if people artificially manipulating the price is a particularly good thing for the Coin either. Doesn't that result in a market "correction"? I'm only just coming to terms with stock market terminology. I mean, in simple terms if you artificially raise the price, you can't maintain that indefinitely, and the price would just crash wouldn't it? Once the buy walls are removed the coin value would drop.

So if all stupid people will sell out theirs coins, smart people will manipulate price selling it very very high (or not selling all at once but keeping price up higher and higher)  and catcoin will have super value.
But how to remove/delete  all this stupid people selling low?

Come on already! BTC confirms so slowwwww, need to buy more cat before it gets back to .0013

Yep

Cryptsy are sooooo sllllllllllllloooooooooooooooowwwwwwwwwwwwwww

You just have to put up with them, I only use them for selling shit coins.  

So..as coins continue to exchange hands, and sellers continue to sell their coins, and the coins gradually become more scarce on the market, the value will naturally increase with demand, meaning minting (mining) will in turn also increase to match the demand on the market which is a result of the gradual decrease in available coins for sale?

That sound about right?

For what?

A market "drying up" would mean no volume.
CAT is one of the most traded ALT coins in the world.

You don't want a coin to be mined to hell. DOGE dumps so many mined coins on it's buyers that the price goes down.

CAT is more like BTC. The same actually. So high volume of CAT + low coins being made = price rises.

Maybe I need to be more clear but what I am saying is CAT is the perfect coin to make price rise.
It's rare. It's in demand.

Are you saying the market is drying up?