Thanks for the link PenAndPaper.
I am really more concerned about the ability of Peercoin to be able to make changes to the structure of its currency unlike Bitcoin which is a fixed structure. Is this a good thing for a digital currency?

I have read that Peercoin, unlike Bitcoin, allows for an increase the supply of coin should the limit be reached. It is presently centralized in control (Unlike bitcoin) but will be de-centralized "after a large amount of users are using peercoin". If it can be controlled to the point where it can be de-centralized, why cant it be re-centeralized again? Its design seems to defeat the purpose of free digital currency..