This comment was only a half joke.
We have lost a lot of consumer confidence and just holding and praying is NOT going to get that back.
Also saying Kitteh is great and Kitteh is going to be fine will not make it so. You are going to have a hard time convincing people to use meows as a currency if its continually losing its value. There are new currencies coming out every week (if not day) and MEOW is getting burried underneath the pile of rubbish.
I'm heavily invested in many coins but my investment in kittehcoin has gone done from 80 and 60 to 7. I could sell out now at a 80-90% loss but I would rather just throw the coins away so as not to devalue the currency further.
It seems the start of the end if measures are not taken.
If you take my advice, which you should, but are not required to, you may have a chance to create something lasting before everyone jumps ship. Keep in mind its much easier to hold something than it is to fight to get it back after you let it go.
Kittehcoin needs drastic change and a coordinated push.
A " marketing team" needs to be created. People need to be assigned tasks, (this person creates funny cat memes, this person posts on 4chan, this person to reddit, 9gag, etc etc) to get the word out and and create a buzz.
This is easier said than done when no one is getting paid.
The development team needs to go back to the drawing board and say; What has been done? and What can be done? What are other coins doing? What is no one doing? You can't exist in a vacuum. There is a world going on out there.
Saying "our coin is good and our coin will survive because there was no premine" is naive. A premine or IPO does not mean your coin won't survive. In fact having a development budget will help ensure it does thrive.
This may seem drastic but think about this:
What if the coin was relaunched as Kittehcoin 2.0 with adaptive scrypt-n to prevent multi-pools and asics?
This would prevent constant downward pressure from multi-pools autoselling.
You could create a trade-in like memorycoin or a burn-system like counterparty did where all MEOWS from 1.0 can be traded in for MEOWS from 2.0 so no one loses their stake.
Everyone would start at exactly the same place. But the coin would be stronger.
What if a constant automatic 2% fee was attached to block rewards like several other coins are doing?
That fee could be split 1% to the development fund and 1% to a charity fund that would automatically payout to a specific charity address voted upon each month. Counting on or expecting voluntary donations is one thing. But if you actually want to get things done you HAVE to assume user apathy/laziness and impose that donation in a mandatory fashion.
Do you think anyone is going to complain that 2% of their profits are going to save the lives of homeless and injured animals? Or sae an endangered species of tiger? Of course not.
That would be something people would be promoting and holding long term.
Plain and simple Kittehcoin is a Gen 1 crypto currency competing against Gen 2 currencies.
There is nothing wrong with changing the protocol if it is unanimous.
Don't think of it as "giving up" or "starting over". Lets face it this coin was not planned for a very long time. It was not years in the making. The dev team did some things right, and some things wrong. It's time to learn from those mistakes and make the coin better because of them.
Better (subjective) coins are coming out every day/week. Even if you are not learning from your mistakes, they are.
Waiting and praying is NOT the solution. Neither is continuing on like nothing is wrong.
I agree with many of your points on the need for action and the need for restructuring. Note that action
is being taken in this direction:
It's definitely not there yet, but I do want to point out that steps are being taken by the team.
Wrt a relaunch as a 2.0: could have many advantages (the automatic percentual charity donation is a winner imho), but there are drawbacks. You can only relaunch so many times before people lose their interest.
On the other hand: loss of interest from the crypto masses (which seem to change their mind every day) is exactly what's happening now. So gaining new interest in the coin in whatever ways (relaunch as 2.0 or others) is most important now.