Be completely honest...It's just not a very safe bet at this time.
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. |
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The recent rise is unnatural, because there have been no positive news supporting it.
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! |
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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.
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Good work  |
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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? |
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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 |
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ASIC can mine TRC the same as BTC. In fact, a lot of algorithm are the same. BTC, PPC, TRC, FRC, ... I have FPGA (actually that I build myself from telecom cards we have at out job... that happens to not sell really well  , so I give them a second life!). I have an array of those cards and do about 2.2GHash/s (2200MHash/s). To the FPGA (and it's the same for an ASIC), he doesn't know that a workload is BTC, PPC, TRC, etc. It's the same algorithm. So, point a few ASIC at those alt coins and it will for sure choke other miners (including FPGA miners). So, once ASIC is used, the difficulty will raise to the point that it's no more profitable to mine that coin. One of the following will happen: - The coin will take value as the difficulty increase so to remain profitable. Although only to some limit. - More likely, the coin value won't raise so much, and there will be an equilibrium between mining power and coin value. When BTC is more profitable, less people will mine that altcoin. And when altcoin become more profitable, miners will mass switch to it. Eventually, miners will get tired of switching between BTC and that coin (depending on the most profitable), and the value will just slowly decrease. But in the end, there will always be an equilibrium. In fact, it has always been, even a month or two ago. I do remember seeing that even when TRC difficulty was like 400~500. Now there's a surge of power only because of the latest jump in value. In fact, that scenario 2 is reached for TRC. Keep being more or less profitable than BTC, and what do we see, value slowly decrease... This is why it's a GODSEND we have LTC. It's designed to be ASIC resistant. The article on wikipedia makes it clear that it will require a genuine computer science breakthrough for someone to find a way to parallel compute LTC's scypt algorithm ( http://en.wikipedia.org/wiki/Scrypt). Miners are the hard workers that drive the system and DESERVE to be rewarded. That's why they deserve a FAIR coin like litecoin. |
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That's because most people serious about LTC trade it on btc-e where you get the fairest market rate. Earlier this week on btc-e LTC hit over a MILLION LTC traded in a single day. Add in the ltc/usd and it hit 1.5 million. LTC 1 - TRC 0.But let's not stop there. Let's not look at pump and dump figures like trc and look at the figures that REALLY count. Market capitalisation: Litecoin: 232269 BTC Terracoin: 7325 BTC Yes that's right, Litecoin is 30 times larger in market capitalisation. Yes, thirty. (figures from dustcoin) LTC 2 - TRC 0Does Litecoin have ASICs threatening to 51% the network? No. Just the other day a user had greater than 51% of the hashing power on Terracoin. Seems very safe LOL. LTC 3 - TRC 0Do miners have it better on TRC? According to dustcoin right now: TRC Profitablility: 110% (fluctuates below 100% to above 100% throughout the day) Litecoin Profitability: Rock solid 169% LTC 4 - TRC 0Oh well. TRC has to have some services or infrastructure in place if it's so awesome right? LOL. No. TRC is pure hype coin, bubble is going to burst, no-one cares about services. Is there a silk road for TRC? No. Payment processor in the works? No. LTC 5 - TRC 0I wonder where all the bitcoin miners are going to go when ASICs flood them out? Will it be to another coin like TRC where there are ASICS already lmao or will it be to Litecoin which is designed to be as ASIC resistant as possible (maybe not foolproof but it will take a breakthrough worthy of academia to find an efficent way to parallel compute Scrypt - read on wikipedia http://en.wikipedia.org/wiki/Scrypt and see if you believe some kid in a basement can really beat that). I could go on but I have things to do. |
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Even if this was possible, wouldn't placing a bounty on this potentially be deemed as criminal behaviour?
This is like hotmail saying their encryption is uncrackable and then you offer someone $500 to hack into their network and damage it to prove it's 'faulty'
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The best alternative for FPGA miners would be to mine Terracoin, as it will be awhile (most likely at least until second generation ASIC) before ASIC miners have an economic incentive to mine TRC.
LOL |
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It looks like 200GH came from one source, up and down. Only ASICs can do that.
The question is, how difficult it is to retarget a ASIC miner from BTC to TRC?
it's as easy as editing pool config in your miner config file and restarting. Then it means the entire TRC network is at the mercy of a few ASIC owners, hoping they'll play nice. Correct? No, it means there are great opportunities for ASIC owners in securing the TRC network. This is a price signal for more people to jump in, and more people jumping in will be the result. LOL!! Great way to put on a spin on how FRAGILE the TRC network is currently. Anyone who buys TRC or invests time mining them is basically playing RUSSIAN ROULETTE. Only takes one ASIC guy who is bored and having a bad day for the network to be DESTROYED. Even if that doesn't happen, you can bet the ASIC miners will get mega amounts of coins that will be dumped onto the market as soon they're worth anything. Go for TRC it's a great investment!  Post that picture to all the people who follow your encouragement and lose their money |
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It looks like 200GH came from one source, up and down. Only ASICs can do that.
The question is, how difficult it is to retarget a ASIC miner from BTC to TRC?
it's as easy as editing pool config in your miner config file and restarting. Then it means the entire TRC network is at the mercy of a few ASIC owners, hoping they'll play nice. Correct? No, it means there are great opportunities for ASIC owners in securing the TRC network. This is a price signal for more people to jump in, and more people jumping in will be the result. LOL!! Great way to put on a spin on how FRAGILE the TRC network is currently. Anyone who buys TRC or invests time mining them is basically playing RUSSIAN ROULETTE. Only takes one ASIC guy who is bored and having a bad day for the network to be DESTROYED. Even if that doesn't happen, you can bet the ASIC miners will get mega amounts of coins that will be dumped onto the market as soon they're worth anything. Go for TRC it's a great investment! |
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I can't connect to BTC-e at all right now.
Best thing to do is to clear your cache and cookies, and not to visit the site for half an hour. I get error messages if I refresh the page too much, triggers their DDOS defense. |
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Silk Road is credited with causing a surge in the value of bitcoin. This is very good news.
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There appears to be a lot of stagnation on LTC today.
This is a good thing imo. We want stability as well as increases. |
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With the possibility of Litecoin FPGAs coming out in the next few months, and then ASICs being a year or two off, do you feel like the chain should have future optimizations to prevent FPGA or ASIC mining? Or would you be fine with ASICs/FPGAs coming out and subsequently purchasing them?
Litecoin FPGA's are a pipedream. The one person who is working on something has himself admitted it's proving a lot more difficult than he expected. I expect Litecoin FPGA's will give the user some advantage but nothing anywhere near as dramatic as the bitcoin ASICs. |
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Site is down right now. Can anyone else get on?  Been whitelisted, some days are fine others are like today |
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I know. That Wiki article is ridiculous. It was actually the first thing I ever read about LTC and I left the article thinking LTC was a scam of some sort. It's only when I found unbiased facts that I realised the truth, that litecoin has enormous potential and a definite place alongside bitcoin.
I felt the same way the first time I read the litecoin page on the bitcoin wiki. So I guess their strategy of defaming litecoin is working. I traded some physical silver for BTC with gaantr2 in Toronto at that time (BTC at $30) and I decided against owning any LTC at $0.04... still thought it was shady. The hilarious thing is, most arguments that bitcoin owners use against litecoin are the exact same arguments that people used to use against bitcoin |
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I don't know a great deal about TRC but why The hate ?
It is extremely similar to BTC and doesn't really offer anything innovative like some of the other altcoins do. and asic can mine it Exactly. There is already some dude asic mining the crap out of it. BAD idea. I know some people want to try and revive dead currencies like TRC but it's just driven by mega hoarders who have TONS of USELESS coins. I'm not a fan of Ripple for example but at least it's innovative. Btc-e should focus on improving it's platform so I get less server error messages imo. |
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Personally, my intuition tells me LTC is going to be as big as BTC, and eventually, one LTC will be worth 0.25 BTC
With great respect, I don't buy this theory I keep reading. 1 LTC = 0.25 BTC only if a litecoin is identical to a bitcoin. But it's NOT. They are very similar, but Litecoin has differences which actually give it some extra strengths.. faster confirmations, fairer mining, a cleaner public image (no silk road) etc. I hope people take on board what I say as I don't want a misconception to become common expectation.  |
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