[ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 109.

dreamwatcher

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Quote from: xchrix on January 02, 2013, 06:45:38 PM

hey i am a little bit confused right now...
let me explain

i hat some coins on my wallet.
now i got an "Immature" transaction with 1501 PPC
but my wallet balance has decreased
when i have a look here i see the transaction: http://www.cryptocoinexplorer.com:2750/address/PVr4kVh7q7P33RQkrQFt5JwZ24BYAApDJa (this is my address)

whats going on? i thought i will GET some coins because of proof of stake and not GIVE some coins over time Sad

or is the calculation wrong?

http://www.cryptocoinexplorer.com:2750/tx/01a739fb0275aa159f85264719b15b054b272ec12226475cf938e7e7de7cec94#o1

Inputs
Index   Previous output   Amount   From address   ScriptSig
0    fcdfd96b7f...:1    1500    PVr4kVh7q7P33RQkrQFt5JwZ24BYAApDJa    72:3045...e001 33:03f4...b7ca

Outputs
Index   Redeemed at input   Amount   To address   ScriptPubKey
0    Not yet redeemed    0    Generation Block
1    Not yet redeemed    750.65    PVr4kVh7q7P33RQkrQFt5JwZ24BYAApDJa    33:03f4...b7ca CHECKSIG
2    Not yet redeemed    750.65    PVr4kVh7q7P33RQkrQFt5JwZ24BYAApDJa    33:03f4...b7ca CHECKSIG

The POS block generation placed 1500 coins in "stake" addressed back to your account in the total of (750.65 x 2) = 1501.3 giving you a POS block reward of 1.3 PPC after the POS block matures (520 confirms)

xchrix

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hey i am a little bit confused right now...
let me explain

i hat some coins on my wallet.
now i got an "Immature" transaction with 1501 PPC
but my wallet balance has decreased
when i have a look here i see the transaction: http://www.cryptocoinexplorer.com:2750/address/PVr4kVh7q7P33RQkrQFt5JwZ24BYAApDJa (this is my address)

whats going on? i thought i will GET some coins because of proof of stake and not GIVE some coins over time Sad

or is the calculation wrong?

Sunny King

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Quote from: punin on December 27, 2012, 08:46:30 AM

How will a hard fork affect wallet balances?

As long as you upgrade before the deadline (currently scheduled around 4 weeks after release, 8 weeks from now), there would be no effect on balance/stake/newmint. If you happen to miss the upgrade deadline, any transaction transacted after the deadline belongs to the obsolete fork and will be reversed when you upgrade.

punin

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www.proofofstake.com seems to have stopped showing difficulty and mint/day.

punin

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How will a hard fork affect wallet balances?

Jutarul

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Quote from: Sunny King on December 16, 2012, 10:29:34 AM

Quote from: sangaman on December 15, 2012, 10:56:35 PM

It's all in this thread. The main thing is that PPC doesn't require a lot of hashing power to stay secure while LTC and BTC do. But PPC's particular implementation of POS is not as tested as BTC's and PPC is still using checkpoints to ensure security.

Sunny, I'm wondering when we can expect the checkpoints to stop happening? The vast majority of coins have been around for >30 days.

Current checkpointing policy is expected to stay at least until the first anniversary or $1M market cap.

If no severe vulnerability is found during the period, checkpointing policy will start to be weakened. At some point checkpoint will become optional.

quoted for posterity

meebs

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Quote from: EskimoBob on December 16, 2012, 12:39:49 PM

Quote from: FuzzyBear on December 16, 2012, 06:03:26 AM

I was interested to see what the hash rate or difficulty would do for both PPC and LTC once the block reward halved... anyone got any data or info for which coin saw a larger increase in hashrate applied to the network?

and I wonder if there will be the same trend when ASIC hit

LTC and PPC both became over 2 times more profitable to mine than BTC. Some hashing power moved surprisingly fast over to LTC and PPC.
LTC probably got the better part of the hashing power, if I recall correctly, while hitting new diff records.
The real shift is coming when the imaginary ASIC's turn in to real and working equipment. Probably in March 2013 or so.

How often does PPC difficulty adjust? It seems like LTC keeps shooting up and back down.. while at least PPC has seemed semi stable lately..

420

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Thanks guys. When I have time I'll get into all the thread and things about PPC, sounds like some good benefits as I brought up the point of ever increasing fees a possibility with BTC myself on this forum somewhere

EskimoBob

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Quality Printing Services by Federal Reserve Bank

Quote from: FuzzyBear on December 16, 2012, 06:03:26 AM

I was interested to see what the hash rate or difficulty would do for both PPC and LTC once the block reward halved... anyone got any data or info for which coin saw a larger increase in hashrate applied to the network?

and I wonder if there will be the same trend when ASIC hit

LTC and PPC both became over 2 times more profitable to mine than BTC. Some hashing power moved surprisingly fast over to LTC and PPC.
LTC probably got the better part of the hashing power, if I recall correctly, while hitting new diff records.
The real shift is coming when the imaginary ASIC's turn in to real and working equipment. Probably in March 2013 or so.

Sunny King

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Quote from: sangaman on December 15, 2012, 10:56:35 PM

It's all in this thread. The main thing is that PPC doesn't require a lot of hashing power to stay secure while LTC and BTC do. But PPC's particular implementation of POS is not as tested as BTC's and PPC is still using checkpoints to ensure security.

Sunny, I'm wondering when we can expect the checkpoints to stop happening? The vast majority of coins have been around for >30 days.

Current checkpointing policy is expected to stay at least until the first anniversary or $1M market cap.

If no severe vulnerability is found during the period, checkpointing policy will start to be weakened. At some point checkpoint will become optional.

FuzzyBear

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I was interested to see what the hash rate or difficulty would do for both PPC and LTC once the block reward halved... anyone got any data or info for which coin saw a larger increase in hashrate applied to the network?

and I wonder if there will be the same trend when ASIC hit

sangaman

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Quote

anyone explain the benefits and detriments to LTC vs PPC over bitocin?

It's all in this thread. The main thing is that PPC doesn't require a lot of hashing power to stay secure while LTC and BTC do. But PPC's particular implementation of POS is not as tested as BTC's and PPC is still using checkpoints to ensure security.

Sunny, I'm wondering when we can expect the checkpoints to stop happening? The vast majority of coins have been around for >30 days.

cunicula

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Quote from: 420 on December 15, 2012, 07:27:02 PM

Quote from: doublec on December 15, 2012, 07:08:58 PM

Quote from: 420 on December 15, 2012, 07:01:30 PM

So is it safe to say ppcoin differs from bitcoin more significantly than solidcoin?

Yes. I think it's the most different alt coin that's come out since namecoin. It doesn't appear to be getting much use outside of speculation though.

some use...

anyone explain the benefits and detriments to LTC vs PPC over bitocin?

Bitcoin and Litecoin will eventually require significant fees in order to make up for the fall in block reward. The size of these fees is debatable. I think fees similar to those charged by paypal is a reasonable estimate. Secondly, these blockchains are likely to become completely centralized in the future. This is just a property of the economics behind proof-of-work. PPC could operate indefinitely without any significant fee payment. Fees in PPC are soley there to discourage spam. They do not contribute to security. In BTC / LTC, fees are necessary for security. The fees necessary for security are probably a couple orders of magnitude larger than those necessary to discourage spam.

On the other hand PPC's security model has not been adequately tested or adequately explained. I am not sure whether PPC is currently secure or not. However, if anything PPC should become more secure over time, rather than less secure. PPC is much less likely to become fully centralized for economic reasons. PPC currently uses very frequent checkpoints, whereas bitcoin uses very rare checkpoints. Frequent checkpoints are a major downside.

I would say that LTC, PPC, and bitcoin all have significant failings.

420

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Quote from: doublec on December 15, 2012, 07:08:58 PM

Quote from: 420 on December 15, 2012, 07:01:30 PM

So is it safe to say ppcoin differs from bitcoin more significantly than solidcoin?

Yes. I think it's the most different alt coin that's come out since namecoin. It doesn't appear to be getting much use outside of speculation though.

some use...

anyone explain the benefits and detriments to LTC vs PPC over bitocin?

doublec

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Quote from: 420 on December 15, 2012, 07:01:30 PM

So is it safe to say ppcoin differs from bitcoin more significantly than solidcoin?

Yes. I think it's the most different alt coin that's come out since namecoin. It doesn't appear to be getting much use outside of speculation though.

420

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So is it safe to say ppcoin differs from bitcoin more significantly than solidcoin?

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: doublec on December 15, 2012, 06:43:34 PM

Quote from: 420 on December 15, 2012, 05:40:41 PM

proof of stake doesn't that reward the people that started in the coin early on

The theory is people holding lots of coins would want the coin to be secure. By participating in proof of stake they secure the network in proportion to the number of coins they hold. They're not being rewarded for being early adopters. They're being rewarded for protecting the network. The actual reward is minimal though. Nothing like proof of work block rewards.

Other rewards could possibly be price increases. But then again we all know that no one knows the future.

doublec

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Quote from: 420 on December 15, 2012, 05:40:41 PM

proof of stake doesn't that reward the people that started in the coin early on

The theory is people holding lots of coins would want the coin to be secure. By participating in proof of stake they secure the network in proportion to the number of coins they hold. They're not being rewarded for being early adopters. They're being rewarded for protecting the network. The actual reward is minimal though. Nothing like proof of work block rewards.

420

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proof of stake doesn't that reward the people that started in the coin early on

why is that needed if an increase in value due to increase in demand of the currency would reward early starters

dreamwatcher

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Quote from: 420 on December 15, 2012, 04:47:09 PM

why are there over 14 million ppc coins? (more than btc all time) in just a few months?

POW rewards are different from BTC.

POW rewards have been between ~700 to ~2000 coins vs. BTC straight 50 coins (Now 25 coins) per block.

If you look at the straight list of of blocks http://www.cryptocoinexplorer.com:2750/chain/PPcoin

You will see the vast majority of blocks are now POS which produce MUCH smaller coin-base transactions.

Initially all the the blocks were POW but as PPC becomes the POS based coin it was meant to be , coin generation drops substantially.

Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 109. (Read 684839 times)