Topic: PPCoin is NOT a decentralized cryptocurrency - page 5. (Read 11015 times)
lol you guys are talking about PP
I don't know why you guys resurrected 2 months old thread...
This is bullshit: white paper has little information, and it is about an old version of ppcoin. It isn't relevant anymore, and probably it wasn't really ever relevant...
After harsh criticism (including mine) Sunny King changed how PoS works...
It actually have got considerably more secure, I admit it. Still I believe it is inferior to proof-of-work and to PoS+PoW hybrids.
But what's alarming is that Sunny King is not willing to publish his security analysis. When I did some analysis on my own he showed that he is fully aware of issues involved. But he simply does not want to participate in discussion. I.e. he develops some algorithm, says that it should work and you people believe him. That's pathetic.
I support LTC, I just think as you said, it doesnt really bring anything new to the table. The information about PPC can be read on the white papers for those who are curious. 
This is bullshit: white paper has little information, and it is about an old version of ppcoin. It isn't relevant anymore, and probably it wasn't really ever relevant...
After harsh criticism (including mine) Sunny King changed how PoS works...
It actually have got considerably more secure, I admit it. Still I believe it is inferior to proof-of-work and to PoS+PoW hybrids.
But what's alarming is that Sunny King is not willing to publish his security analysis. When I did some analysis on my own he showed that he is fully aware of issues involved. But he simply does not want to participate in discussion. I.e. he develops some algorithm, says that it should work and you people believe him. That's pathetic.
The thing is, at this point Litecoin actually looks like a credible alternative currency to use along side Bitcoin. It's similar enough that people don't really have to think about it too much, and it has the added benefit of faster confirmations.
And I say this currently owning 0 Litecoins. But I think there is a demand, and probably a growing demand, for a reasonable alternative/complimentary currency to Bitcoin.
The onus is on PPCoin supporters to demonstrate why they think it is a superior choice. Because at this point Litecoin doesn't look like it's going anywhere. And all the criticism towards PPCoin does not seem too out of line from an outside perspective.
I support LTC, I just think as you said, it doesnt really bring anything new to the table. The information about PPC can be read on the white papers for those who are curious.
The criticism to PPCoin, at least the numerical / pump dump stuff isnt really credible, but, other criticisms about the PoS have merit- i think the biggest question at the moment is more offline wallets vs PoS generation, but there is a thread actively discussing which way to take this.
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Most the complaints about PPC are from smoothie, and dice/greedi. All well known LTC speculators.
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The thing is, at this point Litecoin actually looks like a credible alternative currency to use along side Bitcoin. It's similar enough that people don't really have to think about it too much, and it has the added benefit of faster confirmations.
And I say this currently owning 0 Litecoins. But I think there is a demand, and probably a growing demand, for a reasonable alternative/complimentary currency to Bitcoin.
The onus is on PPCoin supporters to demonstrate why they think it is a superior choice. Because at this point Litecoin doesn't look like it's going anywhere. And all the criticism towards PPCoin does not seem too out of line from an outside perspective.
ahh fuck off andyrossy u lil bitch
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Not really, have a look at the charts on http://www.proofofstake.com
I think compared to other currencies, PPC has the most valid argument for not being this pump/dump currency due to it's innovative minting vs difficulty construct. Could you explain why it may the opposite?
me to one? have a look at the ltc ones at ltc-charts - it's a regular cycle if you check the trade volumes.
hmmn it goes like this
-) get PPC
-) collect proof of stake reward
-) ?????
-) profit
In all fairness, the authors of PPCoin admit it is currently not fully decentralized, but they wish to remove these "broadcasted checkpoints" in a future software update - it is used for bootstrapping the coin.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
It seems to me that in order for a coin to become soiledcoin, the coin's dev must pick a fight with an uber-hacker.
Pretty much this.
And this.
Most the complaints about PPC are from smoothie, and dice/greedi. All well known LTC speculators.
anwser me on IRC bitch, or are you to bitched to do that?
Quote
19:55 -!- Greedi [~Host@unaffiliated/greedi] has joined #ppcoin
19:55 < Greedi> andyrossy, you are my little bitch, now.. go get me some beers!!
19:56 -!- DiCE1904 [[email protected]] has joined #ppcoin
19:57 < Greedi> andyrossy?, bitch.. GET ME MY BEERS!
20:01 < Greedi> andyrossy, i said, GET ME FUCKING BEERS BITCH!
[20:31] [andyrossy(+i)] [9:#ppcoin(+cgnt)] [Act: 2,3,4,5,6,8,12,13,16,17,18,19,20,22]
[#ppcoin]
19:55 < Greedi> andyrossy, you are my little bitch, now.. go get me some beers!!
19:56 -!- DiCE1904 [[email protected]] has joined #ppcoin
19:57 < Greedi> andyrossy?, bitch.. GET ME MY BEERS!
20:01 < Greedi> andyrossy, i said, GET ME FUCKING BEERS BITCH!
[20:31] [andyrossy(+i)] [9:#ppcoin(+cgnt)] [Act: 2,3,4,5,6,8,12,13,16,17,18,19,20,22]
[#ppcoin]
If you and Dice have anything to say, say it here. I know you're upset that I've called LTC out for it's pump/dump mechanic, as have amny others, and shown your LTC scam here, but no need to get childish.
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Not really, have a look at the charts on http://www.proofofstake.com
I think compared to other currencies, PPC has the most valid argument for not being this pump/dump currency due to it's innovative minting vs difficulty construct. Could you explain why it may the opposite?
where is the graph of PPC worth....where you can see that it was already pumped and dumped
ElectricMucus could be right, there still might be another one left in it.
ElectricMucus could be right, there still might be another one left in it.
No graph shows this, unless you can link me to one? have a look at the ltc ones at ltc-charts - it's a regular cycle if you check the trade volumes.
ANSWAR ME BITCH!!!!
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Not really, have a look at the charts on http://www.proofofstake.com
I think compared to other currencies, PPC has the most valid argument for not being this pump/dump currency due to it's innovative minting vs difficulty construct. Could you explain why it may the opposite?
where is the graph of PPC worth....where you can see that it was already pumped and dumped
ElectricMucus could be right, there still might be another one left in it.
ElectricMucus could be right, there still might be another one left in it.
No graph shows this, unless you can link me to one? have a look at the ltc ones at ltc-charts - it's a regular cycle if you check the trade volumes.
1000% increase and then 1000% decrease. How the fuck is it not PUMP and DUMP?
Clearly it is!
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Not really, have a look at the charts on http://www.proofofstake.com
I think compared to other currencies, PPC has the most valid argument for not being this pump/dump currency due to it's innovative minting vs difficulty construct. Could you explain why it may the opposite?
where is the graph of PPC worth....where you can see that it was already pumped and dumped
ElectricMucus could be right, there still might be another one left in it.
ElectricMucus could be right, there still might be another one left in it.
No graph shows this, unless you can link me to one? have a look at the ltc ones at ltc-charts - it's a regular cycle if you check the trade volumes.
In all fairness, the authors of PPCoin admit it is currently not fully decentralized, but they wish to remove these "broadcasted checkpoints" in a future software update - it is used for bootstrapping the coin.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
It seems to me that in order for a coin to become soiledcoin, the coin's dev must pick a fight with an uber-hacker.
Pretty much this.
And this.
Most the complaints about PPC are from smoothie, and dice/greedi. All well known LTC speculators.
anwser me on IRC bitch, or are you to bitched to do that?
where is the graph of PPC worth....where you can see that it was already pumped and dumped
ElectricMucus could be right, there still might be another one left in it.
someone linked it: http://www.proofofstake.com/
pump and dump much?
ElectricMucus could be right, there still might be another one left in it.
someone linked it: http://www.proofofstake.com/
pump and dump much?
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump.
+1...now Pump and dump that shit...lol...oh wait....no just dump lol
meh I think PPcoin has one last hickup in it, look at solidcoinII there was a short but very profitable climax for some sharky investors.
In all fairness, the authors of PPCoin admit it is currently not fully decentralized, but they wish to remove these "broadcasted checkpoints" in a future software update - it is used for bootstrapping the coin.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
It seems to me that in order for a coin to become soiledcoin, the coin's dev must pick a fight with an uber-hacker.
Pretty much this.
And this.
Most the complaints about PPC are from smoothie, and dice/greedi. All well known LTC speculators.
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump.
+1...now Pump and dump that shit...lol...oh wait....no just dump lol
The PPCoin proof of stake system does exactly what it is supposed to do:
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
Amplifying the early adopter benefit to the point where it becomes useless for any other useage except pump & dump. If you have lots of cash and think you can corner the market you can probably get quite a bit of profit by doing it.
In all fairness, the authors of PPCoin admit it is currently not fully decentralized, but they wish to remove these "broadcasted checkpoints" in a future software update - it is used for bootstrapping the coin.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
I can't say that I support the idea myself, but it doesn't smell like yet another SolidCoin to me, just leaves a bad taste.
It seems to me that in order for a coin to become soiledcoin, the coin's dev must pick a fight with an uber-hacker.
Pretty much this.
And this.
Most the complaints about PPC are from smoothie, and dice/greedi. All well known LTC speculators.
If you have a large enough stash of coins you can do a history rewrite of arbitrary size. Particularly, you can rewrite last few blocks to do a practical double-spend.
Not the case at all (see the white papers please.), and even if you it *was* the case... consider bitcoin, to buy even 10% of bitcoin market, would cost $12million. This is more expensive than a 51% attack, and, and you'd need more than 10% of the cap.
interesting thread
They hope that they'll find an algorithm to do distributed checkpointing... But that's the whole point!
So what they say essentially is: "We haven't developed the main part yet, but we hope there is some solution. Meanwhile, here's this completely centralized system with proof-of-stake used as disguise of decentralization".
I'm not claiming that they are scammers, it is just incredibly sloppy crypto design. Somebody was just too eager to release the first proof-of-stake based cryptocurrency, without thinking about security much.
So what they say essentially is: "We haven't developed the main part yet, but we hope there is some solution. Meanwhile, here's this completely centralized system with proof-of-stake used as disguise of decentralization".
I'm not claiming that they are scammers, it is just incredibly sloppy crypto design. Somebody was just too eager to release the first proof-of-stake based cryptocurrency, without thinking about security much.
The creator, Sunny Drag Queen, claims to have spent $100k-$200k of development time on PEEPEE COIN.
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