Hi Chris, we all really appreciate your hard work which greatly helped the ppcoin market in its infancy.

Your work in the bitparking ppc exchange will always be remembered by the ppc community. Hope to see you again soon with other quality projects!

Add a 'true' at the end of walletpassphrase command:

ppcoind walletpassphrase <your_passphrase> <unlock_time_duration_in_seconds> true

In this 'mint-only' unlock mode, one cannot send transactions but can mint blocks (including both proof-of-work and proof-of-stake).

It's more secure than the general unlock mode but less secure than a locked wallet.

Faucet should be running, but it only distributes to about 10 users a day so it's gonna be hard to get given the explosion of interest the last few days.

Oops I think our seed node reached capacity. I just restarted it you should be able to connect now.

I will try to order another server for seed node tomorrow.

P.S. Anyone volunteers to have a server node listed in dns?

I don't really discriminate against premined/taxed cryptocurrencies as to whether I would help them or not, if they can survive the market backlash that is. To give Balthazar some credit, the destruction of 110K premined coins is an action not every altcoin operator would take.

As I said, I would even help an altcoin that I strongly dislike.

I try to help all altcoins irregardless whether I like them or not myself, yeah even for novacoin which is a fork of ppcoin, I know many other people would outright hate copycat projects of their creation but I have a different mindset. I think many of us don't yet realize that even though we are competing against each other in the market, we are really all part of a big team leading the world into a new era.

Looks like Andy's site hasn't been updated.

Happy to know you have a workaround in place for now.

Best way to thank me is for the terracoin fans to stop trashtalking ppcoin just because we are in competition. I advocate competing fairly with positive spirit.

Thanks,

No. Yours is a limited oscillation. This one would collapse it to 0.

Following is a summary of the Terracoin vulnerability I communicated to Gavin and Terracoin developer. It is now fixed in the latest Terracoin release.

Summary: Possible manipulation of difficulty by a miner collusion, or a direct 51% attack, to collapse the difficulty and block generation interval to almost 0.

Impact Level: Critical.

Description: because terracoin employed a very short adjustment interval of 30 blocks, while the target spacing is 2-minute, below is what I come up with as an experimental attack scenario (not tested yet but just for illustration purposes for now). The way the attack works is that a miner collusion attempts to artificially inflates the time span of each retarget section. When the collusion gains momentum theoretically for terracoin I think the difficulty will collapse and block spacing drops close to 0. This is because terracoin 1) didn't fix the time travel vulnerability 2) used a too short retarget interval.


diff --git a/src/main.cpp b/src/main.cpp
index 87b8abf..f28ea0b 100644
--- a/src/main.cpp
+++ b/src/main.cpp
@@ -1238,6 +1238,15 @@ void CBlock::UpdateTime(const CBlockIndex* pindexPrev)
 {
     nTime = max(pindexPrev->GetMedianTimePast()+1, GetAdjustedTime());

+    // If the time-travel vulnerability is present  (nActualTimeSpan is
+    // computed between the first and last block of the retarget section)
+    // the following patch can gradually attract miners to join a 'collusion':
+    // inflate nActualTimeSpan on both ends of the retarget section
+    if ((pindexPrev->nHeight+1) % nInterval == 0)
+        nTime = max(GetBlockTime(), GetAdjustedTime()) + 105 * 60;
+    else if ((pindexPrev->nHeight+1) % nInterval == 1)
+        nTime = pindexPrev->GetMedianTimePast()+1;
+
     // Updating time can change work required on testnet:
     if (fTestNet)
         nBits = GetNextWorkRequired(pindexPrev, this);


Acknowledgement: this class of attack was first disclosed by ArtForz in 2011 I think. It's well known among bitcoin developers and old-time altcoin developers.

The reduction is reasonably slow, 16x difficulty = 1 halving. Yes the mint rate would pick back up if hash rate drops, but over a period of time it just average out.

As I said, the mint rate design is very low future inflation comparable to bitcoin, but with non-deterministic money supply. It more closely resembles gold actually in my opinion.

Yes, that is known as Moore's Law and is explained in the design paper.

It's described in design paper.
http://ppcoin.org/

10 minute target for proof-of-stake blocks.

It's in the coinstake transaction, output value > input value, but the reward does not have its own output so there is no dust involved.

This is a misunderstanding. The stake reward does not have its separate output. It's added to the original amount.

You are mistaken, spacegoat. ppcoin's inflation is controlled by Moore's Law. In fact the current inflation estimate comparison is:

currency     annual inflation rate estimate (Apr 2013)
bitcoin        12%
litecoin       60%
ppcoin        40%
terracoin   250%

do the math.

Yes bitcoin 0.8 features are planned for next release.