[ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 57.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: FreedomCoin on July 25, 2014, 09:39:25 AM

I cannot seem to find an answer to this question.

Once you receive PPC into your wallet, you leave it open 24/7 and do not move those coins. How soon do you start getting dividends or known as minting?

3 days / 30 days? / 1 Year?

The coins have accumulated enough coin-age to start minting after 30 days. Before that, there's no reason to leave the wallet open.

The longer the coins have been kept in wallet, the more chances you have of finding a block. The maximum coin age is one year; if you leave the wallet open (and unlocked for minting) in the few days before it has been a year, you are very likely of finding a block.

FreedomCoin

hero member

Activity: 675

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Freedom to choose

I cannot seem to find an answer to this question.

Once you receive PPC into your wallet, you leave it open 24/7 and do not move those coins. How soon do you start getting dividends or known as minting?

3 days / 30 days? / 1 Year?

lalakies23

sr. member

Activity: 266

Merit: 250

The Peercoin video is here!!!!

http://www.whatispeercoin.com/

https://www.youtube.com/watch?v=7tra0vmparI

PocketCrypto

full member

Activity: 140

Merit: 102

Hello PPCoin Community!

We've just released PocketCrypto, a new Cryptocurrency Management App that will allow you to easily manage your PPCoin investment. Hope you guys will check out the app and Good Luck to All!

We currently support all coins on Mintpal, Cryptsy, and Bittrex. Polo will be added soon.

Pro Version (super awesome!) (no ads) (earlier updates)(no coin limit) (just because you love us )

Free Version (still awesome!)(10 coin limit)

Please check out our main post for additional info, Thanks!
https://bitcointalksearch.org/topic/ann-blockfolio-bitcoin-and-altcoin-portfolio-app-android-and-ios-660696

marquix

member

Activity: 128

Merit: 10

Quote from: mhps on June 05, 2014, 11:10:26 PM

Quote from: lynn_402 on June 05, 2014, 10:45:20 AM

Yeah that I understand, however, that does not answer my question. How is Peercoin energy-efficient if it will infinitely continue to be produced by PoW with the hashrate predictibly growing at the same rate as BTC's?

This is how

It's energy efficient if energy consumption per unit of economy is low. POS coins minted with little energy will dominate PPC economy.

-->> The reason for all this to actually be **energy-efficient** is that transactions have to be cleared ANYWAY for (any) coin networks to be operational. When "minting" peercoins, you are also "giving" your CPU power to the network in order to clear other peoples' Peercoin transactions out there.

This makes it more energy-efficient than both Bitcoin AND also plastic card transactions in fiat currencies (where EXTRA power is needed to process credit card transactions at the Point of Sale or over the phone or, back in the day, manually when reading in paper payslips etc; on top of the whopping energy need for fraud prevention amounting to **41% of credit card operators' profits**, for policing the dollar or pound etc, issuing and destroying currency bills and coins as well as the coffee makers of Fed bureaucrats, to name just a few)...

marquix

member

Activity: 128

Merit: 10

Quote from: FiniteByDesign on June 14, 2014, 05:30:40 AM

Hello PPC community!

Finite By Design LLC has a limited batch of 50 PPC Proofs, each minted of 1 troy ounce of .999 fine silver. Each proof comes with:

Associated address and private key hidden behind a hologram on the reverse side
Protective plastic capsule enclosing the proof itself
Custom stamped leatherette presentation case
Custom stamped paper sleeve for the leatherette
Certificate of Authenticity identifying each proof as one of the limited batch of 50

We are running a $100 per proof June special which is applicable to each of our 7 lines of proofs.

'1/10th Bitcoin'
'1 Litecoin'
'10 Namecoins'
'10 Peercoins'
'10 Peercoins' with 24K gold highlights
'11 Primecoins'
'10 Cryptogenic Bullion' Bars

Also on June 19th our 2 lines of DOGE coins (100 made out of nickel and 100 made out of copper) will be arriving! Each DOGE proof comes with an unattached hologram so the customer can add their own private key and fund the piece should they so desire. Pricing is $30 for singles or $250 for 10.

The neat thing about these "bullion coins" having a face value (albeit in a Crypto currency each) is that you could move even larger quantities across a border -- PROVIDED the country for that border is one that treats Crypto coins like "foreign currency".

I know that United Kingdom does (for most purposes, including VAT).

So in theory, that means you could move £12,000 (or €9,999 for France and similar places) through customs legally without filing a declaration. This has been done with silver Philharmonics, Maple Leafs, American Eagles etc across the Austrian border into Germany all the time (but note that those have face value in "legal tender", in that case euros). Also note, that this only works when Bitcoin, Peercoin etc are treated equivalent to "foreign currency" (as in the UK example, above).

Thought it would be fun to note this (even though I am aware that £12K worth of these aren't even in existence), or it might be helpful for someone out there for some reason as Crypto coiners are known to be well-informed.

Jordon_RapidCX

newbie

Activity: 13

Merit: 0

Peercoin has been added to our exchange!

It can be found here: https://www.rapidcx.com/exchange/ppcoin

Happy Trading!
Jordon Norris
Support Technician
Rapid CX

lynn_402

sr. member

Activity: 462

Merit: 253

Second Market apparently registered the domain name Peercointrust.co
http://who.is/whois/peercointrust.co

Original post on Reddit: http://www.reddit.com/r/peercoin/comments/2875iz/second_market_is_preparing_a_peercoin_trust/

FiniteByDesign

legendary

Activity: 1397

Merit: 1022

Hello PPC community!

Finite By Design LLC has a limited batch of 50 PPC Proofs, each minted of 1 troy ounce of .999 fine silver. Each proof comes with:

Associated address and private key hidden behind a hologram on the reverse side
Protective plastic capsule enclosing the proof itself
Custom stamped leatherette presentation case
Custom stamped paper sleeve for the leatherette
Certificate of Authenticity identifying each proof as one of the limited batch of 50

We are running a $100 per proof June special which is applicable to each of our 7 lines of proofs.

'1/10th Bitcoin'
'1 Litecoin'
'10 Namecoins'
'10 Peercoins'
'10 Peercoins' with 24K gold highlights
'11 Primecoins'
'10 Cryptogenic Bullion' Bars

Also on June 19th our 2 lines of DOGE coins (100 made out of nickel and 100 made out of copper) will be arriving! Each DOGE proof comes with an unattached hologram so the customer can add their own private key and fund the piece should they so desire. Pricing is $30 for singles or $250 for 10.

mhps

hero member

Activity: 516

Merit: 500

CAT.EX Exchange

Quote from: start the art on June 10, 2014, 01:50:32 PM

Peercoin paintings are now available but just 2 items were made so far, testing if there is any interest.

Nice! Why not post in http://www.peercointalk.org ?

start the art

sr. member

Activity: 395

Merit: 408

Bitcoin OG artworks collection

delete

lolwut

legendary

Activity: 1148

Merit: 1000

        https://coinking.io

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mhps

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Merit: 500

CAT.EX Exchange

Quote from: lynn_402 on June 05, 2014, 10:45:20 AM

Yeah that I understand, however, that does not answer my question. How is Peercoin energy-efficient if it will infinitely continue to be produced by PoW with the hashrate predictibly growing at the same rate as BTC's?

This is how

It's energy efficient if energy consumption per unit of economy is low. POS coins minted with little energy will dominate PPC economy.

mc_lovin

legendary

Activity: 1190

Merit: 1000

www.bitcointrading.com

Thread title should probably say "Peercoin" nowadays..

Also maybe a summary blob on top of the original OP?

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: mhps on June 04, 2014, 08:02:25 PM

Quote from: lynn_402 on June 04, 2014, 09:08:44 AM

I see, so what you're saying is that, if Bitcoin gets more popular and expensive, its hashrate will probably grow to be a hundreds of times bigger than what it is now, while Peercoin's would never grow to such levels and would stabilize at approximately the current Bitcoin hashrate?

uh, not what I said. Suppose PPC/BTC staysat today's level, 0.003ish. What happens when there is a huge increase in BTC hash power but not in PPC? BTC will be more difficult to mine compared with PPC so some people will start to mine PPC to sell for BTC. Since both coins use the same algorithm, market will adjust so that hash power distributioin will always agree with PPC/BTC rate. So PPC network hash power will increase as long as BTC hash power does.

The same thing is true among all coins. The increase of hash power of one coin will affect difficulties and exchange rate of all coins.

I am not sure if BTC will get more "expensive". Price is affected by confidence. People gain or lose confidence for all sort of reasons. same is true for PPC/BTC

Yeah that I understand, however, that does not answer my question. How is Peercoin energy-efficient if it will infinitely continue to be produced by PoW with the hashrate predictibly growing at the same rate as BTC's?

mhps

hero member

Activity: 516

Merit: 500

CAT.EX Exchange

Quote from: lynn_402 on June 04, 2014, 09:08:44 AM

I see, so what you're saying is that, if Bitcoin gets more popular and expensive, its hashrate will probably grow to be a hundreds of times bigger than what it is now, while Peercoin's would never grow to such levels and would stabilize at approximately the current Bitcoin hashrate?

uh, not what I said. Suppose PPC/BTC staysat today's level, 0.003ish. What happens when there is a huge increase in BTC hash power but not in PPC? BTC will be more difficult to mine compared with PPC so some people will start to mine PPC to sell for BTC. Since both coins use the same algorithm, market will adjust so that hash power distributioin will always agree with PPC/BTC rate. So PPC network hash power will increase as long as BTC hash power does.

The same thing is true among all coins. The increase of hash power of one coin will affect difficulties and exchange rate of all coins.

I am not sure if BTC will get more "expensive". Price is affected by confidence. People gain or lose confidence for all sort of reasons. same is true for PPC/BTC

lynn_402

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Activity: 462

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Quote from: mhps on June 03, 2014, 11:31:20 PM

Quote from: lynn_402 on June 03, 2014, 11:15:54 PM

That seems contradictory, since one of Peercoin's selling point is its energy efficiency. Is there something I missed?

You missed the "long-term" in the title. In a couple of years hash rate owned by one person will dwarf the entire network today. In the last 6 months PPC network hash power increased more than 100 times. Moores Law works. POW only makes 1/5 PPC blocks today. It will be even more marginalized.

I see, so what you're saying is that, if Bitcoin gets more popular and expensive, its hashrate will probably grow to be a hundreds of times bigger than what it is now, while Peercoin's would never grow to such levels and would stabilize at approximately the current Bitcoin hashrate?

That makes sense, thanks for your help!

mhps

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Activity: 516

Merit: 500

CAT.EX Exchange

Quote from: lynn_402 on June 03, 2014, 11:15:54 PM

That seems contradictory, since one of Peercoin's selling point is its energy efficiency. Is there something I missed?

You missed the "long-term" in the title. In a couple of years hash rate owned by one person will dwarf the entire network today. In the last 6 months PPC network hash power increased more than 100 times. Moores Law works. POW only makes 1/5 PPC blocks today. It will be even more marginalized.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: mhps on June 03, 2014, 11:11:17 PM

Quote from: lynn_402 on May 31, 2014, 12:00:20 PM

Quote from: mhps on May 31, 2014, 11:53:15 AM

POW is used to distribute coins more fairly. POS is used to secure the network with little energy consumption. Eventually (10 years?) POS will dominate money supply, too.

Will Peercoin's code change then for that to happen? Because as I see it, if it becomes worth a lot, there will still be many, many miners even if the block reward is 10% of what it is now.

POW reward for PPC drops steeply as network hashing speed increases. PPC is now rarer than BTC already in coin production rate. No code change needed for that.

I am aware of that. However, actually the block reward of Peercoin is about 86 PPC. If I understand correctly, for it to drop to 43, we would need the hashrate to grow 16x. So by the time Peercoin's PoW block reward is negligible, the hashrate will be quite massive.

That seems contradictory, since one of Peercoin's selling point is its energy efficiency. Is there something I missed?

mhps

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CAT.EX Exchange

Quote from: lynn_402 on May 31, 2014, 12:00:20 PM

Quote from: mhps on May 31, 2014, 11:53:15 AM

POW is used to distribute coins more fairly. POS is used to secure the network with little energy consumption. Eventually (10 years?) POS will dominate money supply, too.

Will Peercoin's code change then for that to happen? Because as I see it, if it becomes worth a lot, there will still be many, many miners even if the block reward is 10% of what it is now.

POW reward for PPC drops steeply as network hashing speed increases. PPC is now rarer than BTC already in coin production rate. No code change needed for that.

Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 57. (Read 684864 times)