Sure that's known as a 'hard-fork'.
What is your opinion on the alternate method of seeding by tx to non-existing addresses in the seeding block chain. That is: You seed by destroying your Bitcoin (or PP Coin...), I am sure this could be arranged if bitcoin 2.0 miners were obliged to make a new tx from the coinbase by using information from the original block chain. Would you also consider this hostile? You don't want to access external block chains from inside your altcoin client, that would be an unnecessary security burden. Or you are saying you want to keep two block chain forks on the same client? That would be a lot of trouble and less efficiency. You can scan unspent output up to a certain height in bitcoin, and aggregate them into a large genesis block. Trim the noises to make the dataset size reasonable (say only outputs >1btc). |
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Sure that's known as a 'hard-fork'.
But why? It's surely a way to declare war against bitcoin developers.
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ok i understand  but ppcoin-qt doesn't support all the configurations that ppcoind has! They both use the same ppcoin.conf configuration file. Although only a few options are exposed on UI. Also when running ppcoin-qt, you can set 'server=1' in ppcoin.conf, then you can use ppcoind <command> to do RPC queries just like when running ppcoind -daemon |
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2 days left before protocol switch to v0.3. Please upgrade to 0.3.0 as soon as possible if you haven't done so.
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Any ideas why my
/ppcoin/src/ppcoind getinfo
always shows
.....
"stake" : 0.00000000,
....
I had those coins for ages (over 4 months) but still no "stake"
When you get stake it would hold there for 520 blocks so if you check it ofter enough you should be able to see it. Use 'listtransactions' to research your transaction history, or use qt to look for transaction type 'mint by stake'. You need to leave wallet (either ppcoind or ppcoin-qt) running in order to generate stake. |
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3. I don't like to wait for DAYS to confirm a transaction (520 confirmations)
Sunny can't you do anything about the HUGE number of confirmations?
520 confirmation is only for the generation/proof-of-stake transactions. User transactions do not have such requirement. If you receive some coins, it should show on balance after 1 confirmation and then you can transfer it. To avoid stake transaction holding your coins for 520 blocks you can set 'reservebalance' in configuration. |
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Weekly Update #30 - The week saw significant market activity in altcoins. Investors should use caution in a volatile market.
- I am happy that more users are gaining interest in ppcoin and other altcoins, although this is presumably due to bitcoin's recent issues. I will continue to watch bitcoin's v0.8.1 release and follow up on the large block fork issue. To be fair, I think Bitcoin developers once again handled the situation reasonably well.
- I have received invitation from Bitcoin Foundation to join a panel on altcoin during the California Conference in May. If anyone is going to the conference and interested in presenting ppcoin please let me know.
- Another reminder that v0.3 protocol switch is scheduled for March 20th and please upgrade your client if you haven't yet done so. I will be watching the switch on Wednesday closely.
Have fun! |
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Yeah, dust method is easier, you only need to get proof-of-work difficulty via 'getinfo' or 'getdifficulty'
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When you run ppcoind getinfo, my newmint shows zero. On ppcoin's IRC channel it was confirmed this looks to be a bug.
newmint is what you have mined yourself that haven't matured. To see the block mintage you need to use ppcoind getblock <blockhash> |
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Sorry - I should clarify - it does do this. However, due to a recent break in PPCoin's code, the amount of coins in each block is not working correctly on the site. I contacted the devs and hopefully will fix that to.
All I need to do is find a blockexplorer that gives me the difficulty, coins per block and generated coins, and I can easily add new alt crypto coins.
I am not aware of any ppcoin issue right now, are you saying you have problem getting mint amount from ppcoind? Or is this a problem with your website backend? |
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- how does POW and POS interact? Is POW denial by POS miners effective?
- ...
To deny POW blocks, after checkpointing is weakened, a 20% collusion of stake minters can easily reject pow blocks about 20% of the time. To achieve much higher denial rate it would likely need to fight against honest stake minters. |
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Will a verison of ppcoin with getblocktemplate/submitblock support be coming out any time?
Yes, refresh to bitcoin v0.7 should come in the next release, likely within a couple months. I'd like to fully understand the impact of BDB limit from bitcoin's side first. |
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Here is a rough timeline of altcoins and creators bitcoin 2009/01 (satoshi)
namecoin 2011/04 (vinced)
multicoin 2011/06 (sacarlson)
devcoin 2011/08 (Unthinkingbit)
ixcoin 2011/08 (Nasakioto)
solidcoin 2011/08 (CoinHunter)
geist geld 2011/09 (Lolcust)
tenebrix 2011/09 (Lolcust)
rucoin 2011/10 (unknown)
fairbrix 2011/10 (coblee)
litecoin 2011/10 (coblee)
liquidcoin 2012/01 (Nicksasa)
timekoin 2012/06 (knightmb)
bbqcoin 2012/07 (Cubox)
ppcoin 2012/08 (Sunny King)
qubic 2012/09 (Come-from-Beyond)
terracoin 2012/10 (unknown)
freicoin 2012/12 (maaku, jtimon)
ripple 2013/01 (jed/OpenCoin)
novacoin 2013/02 (Balthazar)
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Please note tenebrix was the first altcoin using scrypt instead of sha256 for block mining. Litecoin copied the idea and code. So I couldn't see how litecoin deserves a 5 for 'innovativeness'.
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ppcoin is open-source. I don't know why people get this idea that it is not.
It's open source and same license as bitcoin (MIT). Everyone is free to fork and experiment and that's exactly what novacoin did.
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I do wonder if all the people who come up with "market cap" figures for DeVCoin are basing it on the actual minting rate of 50,000 coins per block, or on the figure the "profitable to mine chains" sites actually show for coins per block, which is the 5000 the miner gets.
Market cap is computed based on total minted money supply (50k coins per block for devcoin) regardless of how much were given to miners. |
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This is not true, mathematically, devcoins inflation % asymptotically trends to 0. And mathematically that means devcoin is as equally deflationary as bitcoin or any other alt
I am aware of that, but that's only effective after maybe a hundred years. I don't think any investor is looking at waiting a lifetime before investing. Even if you look at 100 years from now from a pure mathematical point of view, tell me which is a better investment if in 100 years namecoin and devcoin market cap reaches parity? |
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I'd like to advise potential investors that unit price of a coin does not matter. What you should be looking at is something known as 'market cap'. This is why I find dust's portal extremely helpful to investors. http://dustcoin.comYou should compare different altcoins based on their market cap vs subjective quality/potential, rather than the unit price of a coin. That is, your logic should be, hey I think market cap of xyzcoin is too low for its potential thus undervalued, it's good buying opportunity. Another important consideration is future inflation expectation, because it greatly impacts the worth of your long-term holding. In this regard devcoin is worse off than other altcoins because it adopts constant generation (no-halving) thus unlimited future supplies. |
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Yeah xorxor is doing a great service to the community. Someone needs to link to this thread from the wikipedia digital currency page.
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