Litecoin will prosper. There's not much room for another one, unless it's something innovative like PPCoin. Cheap knockoffs like TRC or NVC are ultimately destined for the scrapheap.

No coin called Crapcoin would ever become massive. 

Down she goes

It will take a computer science breakthrough to find a way to beat this trade off.

I agree. Perhaps Sunny could hold a poll to get the communities opinion.

I quite like StakeCoin as a name as it captures the innovative concept of the coin in the name. Any other announcements could come along with the name change to give it extra impact. You could even say PPCoin was the 'beta' name?

PPCoin has a bright future. It's trending upwards in google searches dramatically and imo it's the only other viable alternative currency besides Litecoin.

All the code is out there in the open, anyone is free to look through it. No-one says he is a godlike coder, that is why there is a tournament being arranged to investigate any weaknesses in the system. You do realise weaknesses were found in Bitcoin too in it's early days?

Remember PPCoin isn't just a cheap knock off bitcoin clone like most other alt currencies, this is innovative work and it's still in it's infancy. Over the coming months the project is just going to continue growing.

Just like all the interest is growing - see the pictures I link to in my original post.

I'm not claiming PPCoin is the next bitcoin but I don't think it should be written off and it has a lot of potential... but I know I can't win you over, you are team LTC til you die.

Everything is on github: https://github.com/ppcoin/ppcoin and open source.  

Bravo!

See guys. It's even better than we thought. 

When can we expect the mass introduction of ASICs?

A super efficient FPGA for LTC's Scrypt algorithm would constitute an academic computer science breakthrough worthy of publication in a journal.

20-100 fold increases or decreases sounds too big to me but it will be fascinating to see how the mining ecosystem responds.

So if I am understanding your calculations correctly, mining Litecoin is twenty times more profitable on average?

Btw just to add, less than 5% of my cryptocurrency holdings are in PPCoin at present.

The more people who get attracted to mining it because of the high profitability, the better it is for PPCoin.

Nowhere do I imply it's a very safe bet either. 

Note the sentence in bold at the end where I say: Maybe I am wrong

I am thinking long term here. Let's see where the price is in 6 months time.

Not seeing where I sound naive in my quoted post  

Let's see what the coming months bring.

Nowhere did I say it's a 'very safe bet'. Please don't put words in my mouth. I've said there is a lot of new activity and interest in PPCoin and I am speculating whether it's under-priced.

There was no positive news about Litecoin when it surged upwards from 6 cents.

Right now PPCoin is the second most profitable coin to mine, on average, after Litecoin. Perhaps that is a factor. Whatever way you look at it there's a lot more interest in PPCoin than there was a month ago (e.g. look at the google search results trend) which can only be a good thing.

The developer Sunny has also proven himself quick to fix any problems. As time goes on less problems will arise, if any. This is the downside to PPCoin being so innovative instead of just another Bitcoin copy. But it will payoff in the long run. I don't blame Sunny for keeping things closed source for the time being, after all the work he has put into it... He should make it open source once it grows popular and he gets the rewards he deserves for all his hard work.

EDIT: I was wrong. In fact it is open source already. Even better!

Since I made this topic 2 hours ago PPCoin's market cap has risen further. It was 7295 btc two hours ago, now it's 8015 btc according to dustcoin.com. That's a 10% rise.

Good work 

Looking at the profitability percentage in this picture below we can see there are several coins which are more profitable than bitcoin (with bitcoin at 100% as the base rate):



What are the reasons why people don't mine these other coins and make themselves more money? And if miners dont want to trade the coins for USD, Litecoin actually has a decent marketplace of goods and services cropping up thanks to it's big rise in value.

Can someone explain?

I've done some research on this and I am using this topic to collate what I have found so far.

1. The number of people searching google for the phrase 'ppcoin' has tripled in size in march compared to previous months:



Litecoin did a similar thing recently. Terracoin which is also growing in size is also showing a trend increase.

2. There is a LOT of trading activity spiking up in ppcoin lately

Volume chart from vircurex:



BTC price graph:



PPcoin is also being mentioned more on the forums in recent days.

3. Lead developer Sunny is still extremely active and passionate about his vision with 'ppcoins'. Sunny is continually improving the code and is very receptive to new ideas and if something goes wrong you can trust him to fix it. The development is still active unlike a lot of the other alt coins which are barren wastelands. This is not a coin that is just a cheap copy of bitcoin with some tweaks, this a very dinstinctive and innovative coinn. PPcoin stands out amongst the other coins for being, in my opinion, the most innovative with it's proof of stake and low energy consumption. Which leads me onto 3:

4. PPcoin will likely scale better than bitcoin. Bitcoin is already running into problems with the amount of transactions and this will only get exponentially worse.  PPcoin will present an alternative. And not only that it should be more of a 'hedge' against Bitcoin since if a flaw is found in Bitcoin it is less likely to be found in PPcoin than other alt currencies.

5. Mining profitability is 150% on dustcoin right now and seems to hover around this mark consistently. (litecoin 163%, terra 135%)

6. It's market cap is 7295 btc, compared to 7168 for terracoin. This is very impressive considering how CHEAP these coins are (about $0.02 ie about 2 cents), much cheaper than terracoin.

7. PPcoin vulnerabilities have now been patched and further to this a tournament is being held to prove the strength of the system and to root out any minor bugs (https://bitcointalk.org/index.php?topic=152809.0) e.g. something similar to double spend for bitcoin.

8. The only downside I see is it's only on vircurex and bitparking. Btc-e don't have it (yet) but the new exchange being developed by neotrix will. The way I see it, you can buy a few k of these coins for peanuts and imo they are the only alt coin left which is cheap and has true potential. Dev coin is very cheap for example but has poor mining rewards due to 90% of the rewards going to the developers , NVC has too much of a scam image now it will never become 'big' + market cap is tiny and fishy, Terracoin is growing but imo is too similar to bitcoin and in a bubble, Namecoin was a brilliant idea but unfortunately was executed wrong and the domain names were too cheap... Actually the other downside I see of ppcoin is it uses the SHA algorithm so will probably get ASICs? This affects all coins apart from Litecoin and NVC though.

Those are my thoughts on the matter. Maybe I am wrong. But maybe I am right. I will revisit this topic in the coming months! What do you guys think