Topic: ppcoin market crash - page 2. (Read 3397 times)

All your opinion and all speculation. If people choose to accept LTC for payment, then it has value despite you believing it does not. Just like people believe BTC has no value (who don't accept it for payment) it is the same concept.

What gives something value is acceptance. Not because you say so. But because people say so.

litecoin is to expensive to transfer small amounts of value.

Bitcoin: 1 coin sent =~ 0.0005 BTC tx fee.
Litecoin: 1 coin sent =~ 0.1 LTC tx fee.

its poor ecconomics to do small  transfers of value in litecoin and given litecoin is worth less than bitcoin it is sort of self defeating.

Dooomed doesn't imply it has failed it implies it WILL (future tense) fail.  Kinda like a plane having both of its engine explode at 30K feet.  It hasn't crashed but it is doomed.

There is no purpose to LTC other than "other people got lotz of Bitcoins.  Not fair I will make a new coin and have lotz of notBitcoins".  I mean PPC is a pretty bad implementation of POS but if you believe POW isn't sustainable that means BTC will eventually fail.  POS is a competing theory for securing the chain.  BTC in theory could implode under the weight on the continual POW imposed on it (I don't believe that but it is theoretically possible) however if that happens LTC will eventually suffer the same fate.  Likewise FRC likely will go nowhere but if you buy into the theory that a central agency of wealth management is a better mechanism to distribute coins than the "mining lottery" well it presents an alternative.

LTC isn't a significant alternative to BTC.
LTC has no value as "silver to Bitcoin's gold". (Bitcoin is the silver to Bitcoin's gold)
If POW model is fatally flawed then LTC dies with BTC.

Investing in LTC as an alternative to BTC is like using gasoline soaked cash that you keep piled up in your house as a hedge so you can rebuild if your house is destroyed in a fire.

The only hedge it provides is for those who don't want to acquire too much wealth.

I don't underst3and how you can say it's doomed. I do understand why a fair amount of people consider it a pump and dump. but even with the sudden fall in price. it has not really shit canned itself. I know for a fact I haven't lost money yet in it. Maybe that's the key word? Yet?

I prefer to write on Facebook.
There I can target anybody or post a LIKE.

http://www.facebook.com/PPcoin

15 millions - is 0.75% from total 2 billions.
PPC is long term project. When the bitcoin base will be more 20 gb, the PPC sure will become valued.

Thank you wormbog, you have answered my question perfectly and left me with the feeling that I understand BTC even more now ... hehe and ty for the satoshi i'll save those for 2114 when they worth millions!! i'd send u some coins back... but i know u prob not interested in any of the altcoins i got and i'm all out of BTC at the moment... still waiting on BFL to deliver some product :/ but rest asured I never forget those who expand my knowledge and mind ... oh and if you would like some altcoins do say

By the way, I just sent you a couple 1 satoshi transactions using blockchain.info and the official client (command line), and in both cases a .0005 transaction fee was included.

There are 15 million PPC in existence. Get 10% of them selling their coins and the market will drop low. Especially considering that there aren't many buyers. There were a lot of buyers at the beginning probably because people were speculating that PPC would become useful. As time goes on and there becomes no way of using them anywhere the number of buyers drop, more people start selling them since there's nothing you can do with them but sell them, and the price drops further. As others have noted this is the story of most other alt coins.

Most miners won't include a transaction in their found blocks unless there's a transaction fee. While it's technically possible to sent a transaction without a fee, it could be a very long time before it would get any confirmation.

The standard bitcoin client has a hard-coded minimum fee of .0005 BTC. As I recall, the standard fee was originally .01 BTC, but it was reduced in the official client as exchange values started to rise, and the third-party clients followed suit. There's no reason it couldn't be dropped again in the future when bitcoins are worth a lot more.

Yeah i feel ya.... though I am disappointed I can't send 1 Satoshi from my wallet without incuring a huge transaction fee I don't know enough about the transactions fees but will this reduce over time??

Yes, LTC is also doomed to fail. Silver make sense because gold can't be broken down into small enough units for convenient everyday use. Bitcoin doesn't have that problem.

my head says I agree with you entirely but my heart says shut up and I will be a millionaire when one of the altchains takes off, just a question of which one

also I would have to add that say there was an adoption of one of the alt coins by a large merchant... say ebay liked the idea of TRC over BTC as they saw an opportunity to make money from it by running their own SR equivalent on TOR then that would surely make the value of TRC worth it... however I do have to agree that it would make more sence for them to create their own coin and launch as Ecoins where they could have the initial advantage of mining at the start rather than joining months down the line once a huge number of coins are already in existance... and even if TRC did take off in such a way i'm sure we would see the bubbles and attempted busts of the currency.... especially if ebay were to take on a coin as i think there would be an outcry of users saying not to play into ebays hands etc...

also what happened to LTC being the silver of BTC's gold?? and that people will trade in LTC as BTC are just so precious and too valuable to trade on a day to day basis.. i know we are far from that at the moment, but do you think that LTC is in the same boat as a doomed to fail currency??

Sure, you can get more PPC through PoS generation. But if nobody will accept them for transactions they're nothing more than toy money. The same thing has already happened to numerous alt-chains: IxCoin, I0Coin, CoiledCoin, SolidCoin, BBQCoin, etc.

I used to think that it would be smart to hold a small amount of the various alt-currencies in case one of them happened to get popular and take off some day in the future. Clearly that has not happened for any of them yet. Over time, I've come to realize that it never will. Why? Because once a new currency has been out for a few months, a small handful of miners can collect huge stockpiles of the new coins with relatively little effort. They're worth almost nothing, but alt-coin fans hold on to them just in case.

Let's use PPCoin as an example. Let's say that 2 years from now, Bitcoin's requirement for miners has proven to be a huge problem. The blockchain is too big for anyone to work with directly, and all mining is done by multi-million dollar quantum computers that only large institutions can afford. The banks collude to do most transactions off-chain so chargebacks are possible and anonymity is gone. The crypto community becomes disenfranchised and start looking for an alternative that the banks can't take over so easily.

Meanwhile, PPC enthusiasts have been happily improving the protocol, and it's now widely seen as the perfect solution to take crypto-currency "back to the people". The early adopters who still have their wallets with a few hundred thousand PPC are drooling in anticipation. All the waiting is about to pay off!

BUT IT WON'T. Community leaders won't start pushing PPC. All those bulging wallets will be seen as little more than a massive pre-mine. Instead, they'll grab the source, use it to create a new coin with a name that won't make all the kindergarteners giggle, change the crypto so the banks' quantum computers can't take it over, and launch it fresh.

In conclusion: if an alt-currency doesn't get merchant buy-in within the first few months of launch, it is destined to fail. Bitcoin is the only exception, and only because it was the first of its kind. Bitcoin's early adopters may very well become super wealthy some day, but alt-coins are not a path to riches. They're great for research, but terrible for investment.

Stupid people They don't undestand that this project CAN'T DEAD. Ever mining will be 0 M/h, the coins will be generate by Proof of Stake.
I'm not agree with you about NOT NEED PROMOTIONS.

Why do you think a currency needs promotion?

As far as the "panic" is concerned - I don't really see a panic, just some big currency holders jumping off the boat. As I indicated in the OP, I think this has something to do with how the code development is handled (closed). But it could also be a reaction to the lack of utility, as wormbog indicated.

I don't undestanded, who has created this panic ? (13-15 January)
The update will be in term like was annonced.
If we don't appreciate our young valute, nobody will do it.
What have you done for promote PPCoin ?

thats not a speculation, its a fact

I'm speculating that the lack of transparency in development causes developers to not bother writing the code that would allow merchants to accept PPC for actual commerce. And the lack of support from merchants causes investors to lose confidence in the currency as a long-term investment.

...so we're both right.