hmm.. 3 sats.
I see a lot of delusion all over the forums. Much of it in this thread.
I'm a heavy meow holder (which is currently worthless now).
I haven't sold a single meow after buying in at 80, 60, 40. I too was swept up in the delusion of the community, not noticing the signs and warnings.
It makes me sad that if it were to go back up to 60 now I would just break even, but if I had waited and bought in now, I would have made 10x my investment.
So right now I have to hope kittehcoin achieves amazing success just to break even. Painful.
I think maybe some of you need to take a step back from this. Many of you are focusing too closely on kittehcoins and its merits. Well kittehcoin doesn't exist in a vacuum. The cat cannot survive in the toilet.
That is a fitting analogy, the cryptocurrency community right now is like a toilet. There is a lot of crap (money) coming into the market, but in order for it to stay and not get flushed down the toilet (invested into alt coins), there needs to be more coming into the market than is flushed down.
Gross analogy aside (all though I think you get the point), this is the current state of the market. There are so many new coins being minted there is just not enough money to go around and prop up the prices. Bitcoin itself needs an estimated 2.5 million dollars of NEW MONEY invested every day, just to maintain its current price.
Now, we have over 100 alts, all inflating at an alarming rate. Billions of new coins are being minted every day. The alt coin community needs an influx of X dollars for every coin to maintain its price.
Does anyone honestly believe there is enough money in this community to buy up all the new coins being mined every day? of course not.
There is a finite amount of money in the altcoin market with very little new money being invested every day (taking into account withdrawals to bitcoin and fiat).
So we are working with one lump sum of money. That's it. All coins have to fight for this one chunk of change.
As can be seen following the trends, the lions share of the money jumps from one gimmicky coin to the next (AUR, MZC, etc).
It's Musical Chairs.
With every new crapcoin that comes out there is less capital for the previous coins. With every new coin that appears, people dump their older coins and buy into the newer shinier coins.
Where does this leave Kitteh? Well if you think people will stop making new crappy altcoins today, this very minute, and from here on we can start to grow you are mistaken. They will keep making them, and it will only get worse.
You all have yourselves to thank for that. Constantly mining and supporting every piece of crap that comes out. Maybe if people used their brains and said "no, we will not support your coingen coin!" we would have less crap cluttering up the system and devaluing other quality coins.
By the end of the year there will be more money invested in the altcoin market, but there will be many many new coins created and coins mined by that time.
This problem will not go away by waiting.
Unfortunately you cannot succeed on your merits alone in this market.
Touting kittehcoins stellar dev and "community" if you can call it that is worthless.
People don't invest in the coins that have dedicated developers.
Many coins have great developers, they are all down as well.
Just look at the charts.
Ultimately, you need people to support your coin. People will only promote and support your coin if its increasing in value or at the least not sinking like a rock. The coin will only increase in value if its cutting edge, unique and/or gimmicky.
Kittehcoin is neither of these. Even when you implement the features you are talking about, how many other coins will have already implemented those features?
Dano is a great guy, but lets face it, he is a programmer, not an economist, or a marketer, or a salesperson. He does what he is good at and there is nothing wrong with not being good at everything.
I'm not saying that he has failed. But the community has changed and kittehcoin has not changed with it.
This is quite obvious.
This is shit or get-off-the-pot time. If you want this to succeed, take drastic measures, if you want to take your chances... well, continue along the path and hope for the best (this is the approach you are taking). When a business attempts this approach they start to dwindle (microsoft vs apple comes to mind) and eventually die.
Stop telling people to buy in because its cheap. All you are doing is feeding the whales and giving very bad advice. Even if everyone was to pool their money together and jack up the price of kittehcoin, the price would collapse again and again. There is nothing stopping it from doing so.
Trust me, it's not going to get better. In fact it's going to get much worse, for all coins.
Dano if you read this, don't be offended, I appreciate everything you've done for the coin and the community.
I'd even like to offer my support in design/development going forward should certain actions be taken. I have some experience that may be beneficial.
You can contact me any time.
If anyone took the time to read that novel I just wrote then thank you. We need to understand that it's not going to get better. The sooner we understand that the sooner we can decide to take action.
+1,000,000,000