Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Catcoin - Scrypt meow!
by
etblvu1
on 02/01/2014, 22:07:03 UTC
To keep things in perspective, some posting here make it sound like CAT is the only coin to be losing value in relation to BTC. Not long ago, DOGE was trading at .00000150, then it was at .00000100, then it was at .00000070, and just yesterday it was at .0000055. Now, it's trading at .0000045. If you think having one million CATs out there (and increasing at the rate of about 700-1000 CATs per day) causes dumping problems due to sheer volume of coins, think about what the dumping potential is for DOGE, and look at what the prices are doing. I think CAT is in better shape than DOGE despite temporary "profitability" of DOGE. DOGE is selling out its soul and long-term prospects, in order to get temporary hashing power. That is definitely not the strategy to emulate for any altcoin. We need a strategy to obtain and keep a reasonable hash rate, at a reasonable profitability level sufficient to keep loyal miners funded, while keeping out the mercenary types who are only interested in split-second momentary profits. The hasher-dumper does not mine Litecoins, and if that situation is good enough for Litecoins, it should be good enough for Catcoins too.

Try going to coinedup.com and look at the DOGE/CAT market. It's sitting right around 1200-1300. That's about where it was sitting a few days ago, when CAT was at its peak too. So the current value loss is something both DOGE and CAT are suffering, so it's not a situation of DOGE going up at the expense of CAT. We just need to find a way to tide things over in the short term, avoid a drastic reduction in difficulty level at the next changeover (as to cut off resupply line for the dumpers), and things should stabilize and be back on the ascent.