LTC has real use. Other coins are just speculation. Yesterday I tried to build PPC client on osx, it's just painful, even I if bought some from exchange, I still have no safe place to keep them, let alone acceptance.
Mac build is not yet supported. But it will be in the future releases. For now if you cannot fix the makefile yourself then maybe try running it in a linux/windows vm. |
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I didn't get the upgrade done in time I guess. Now I've updated by following the instructions on the forum thread about how to update.
But my balance is missing a bunch of coins (~1/5th) and when I do a listtransactions it looks like I have three orphan transactions that look like they might represent my missing coins.
Will a -rescan fix this?
Another interesting thing in 0.3.0, listaccounts shows my balance roughly 5x higher than getbalance and getinfo.
Thanks!
Try ppcoind checkwalletif it reports something other than check passed, backup wallet first. and then run ppcoind repairwalletThis should fix your wallet. Let me know how it goes. |
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Yes the person who helped create it, a bible thumping Christian called luke-jr, also calls litecoin a Ponzi. Conflict of interest? Yeah, I think so.
Since when did luke-jr help create ppcoin? He only said something nice about ppcoin when we released it, still with reservation. No he hasn't participated in the project in any way. I don't know where you heard it? The were pre-mined they are centralized and they are the result of a crazy Christian... Do I need to go on?
Please don't spread lies you heard somewhere else. ppcoin has absolutely zero premine and the release was preannounced with precise schedule more than a week ahead of release. If you trusted the person who spread the lies to you you should seriously reconsider his reputation. |
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Can you elaborate on this?
Namely:
1) What stake kernel is and how it is verified, and what you mean by "block connection".
2) What a hardening point is, and what the 9-day modifier generation window is/means.
1) Stake kernel is defined in the design paper, it's the input 0 of stake transaction. As to block connection, bitcoin block is processed in 3 steps: check/orphan, acceptance, connection. Connection is when all transactions are connected and inputs verified. 2) Hardening point is where all nodes are assumed to have reached consensus on the part of block chain before this point. The stake modifier introduced in v0.3 is calculated over a roughly 9 day window. I have described this before in my weekly updates. |
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I like the innovation in the proof of stake concept in PPCcoin very much, but in the current PPCoin implementation, as far as I understand it, I see some drawbacks.
I’m also thinking about improving the proof of stake concept, therefore I have some questions:
Why using coinage for securing the network? Doesn't this make it more vulnerable to burning coin age double spending attacks?
Isn't it better to just sign with the coins itself?
(The reward of coins could be still 1% per coin age)
Isn't it better if you can secure the network at once with your coins? So why someone has to wait X days?
It's a good question. Main reasons are: 1) Using new coins to sign block could cause problem for the block chain to recover from a chain fork. This is why 30-day minimum is chosen with the assumption that any chain fork that extends that long has to be bugs, attacks, or major network partitioning incidents, and would have been resolved via developer and user intervention. 2) Stake kernel is verified before block acceptance/connection to prevent a type of DoS attack on block-chain storage. This also requires a hardening point consistent among all nodes. (As of v0.3 this hardening point is about 21 days due to the 9-day modifier generation window) I have explained in the design paper that we chose not to redesign bitcoin's data structures so the above design choices were dictated by this decision. Note the coin-age weighting is capped at 90-day age since v0.2. So beyond 90 days it's effectively generated by coins instead of coin-age. |
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Yeah there are still some clean up to be done with the bitcoin text, as well as translation text for different languages. As we get more help with these cosmetic issues things should get better for future releases. v0.3 is our first release that supports Qt.
Thanks for reporting the issue.
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Are the transaction fees calculated from the size of the transaction in bytes, like for BTC and LTC?
Another potential problem with PPC is that PoS generate a huge amount of tiny fractions of coins over time that add up to large amounts in blockchain fees when they are actually spent. Given a small amount of PPC, I imagine it is actually be a disincentive to hoard and get stake blocks for years on end because you'd just get swamped in transaction fees for the many kilobytes of inputs that you'd have to spend from.
What I really worry about in PPC's proof of stake system is the general disincentive not to save coins -- I think the maximum return for hoarding stake coins is 1% for year, while the currency inflates wildly according to the quantity of miners. Without a strong incentive to hoard coins and avoid spending them, the PoS system falls apart.
Yes transaction fee is charged on per kilobyte basis like in bitcoin. Fee rate is 1 cent per KB. And to simplify things and avoid user confusion, no fee-free transaction. Over long term the level of proof-of-stake protection should be alright, it is not expected that a majority of coins to be constantly participating in the proof-of-stake generation such that it interferes with the coin's medium of exchange functions. Think about long term with bitcoin, the cost of proof-of-work protection is shrinking as a percentage of the total money supply as the block subsidy reduces. So to reach a comparable level of security, even just a few percent of the money supply are participating in proof-of-stake generation that could have been enough to deter double spending. |
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"Minting suspended due to locked wallet" while using the QT GUI wallet. Any way around that?
If you wish to keep the encrypted wallet locked while idling then it cannot mint block (neither proof-of-stake nor proof-of-work). Otherwise you can run the qt in server mode (add 'server=1' to ppcoin.conf), and use command 'walletpassphrase' to unlock the wallet for minting. There is an extra option for mint-only unlock mode. In this mode one cannot directly send money from RPC so it's somewhat more secure than the general unlock mode. ppcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> trueIn linux you should add an extra whitespace to the beginning of the command so that it doesn't log the passphrase into bash history. |
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Is this kingmidas's faucet or yours?
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major update:
FRC is back!
diff dropped and hashrate picked up imidiately . a lesson to new coins - use PPCoin-like diff adjustment, its so much better.
Apparently bytecoin once again ignored the good advice. Expect another freicoin like episode with bytecoin. |
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These stake transactions are considered orphans just like orphaned coinbase (mined) transactions. They stay around in the wallet but the stake is released back to balance. So no need to worry about them. Currently I am not aware of a way to purge the orphaned coinbase/stake transactions from the wallet. I have noticed for the month of Feb. that I have several stake mint blocks that never got any confirmations. Would these be considered orphans? Is there a way to get the confirmations from the network or purge them altogether? Thanks.
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Weekly Update #32 - Network has been running smoothly for the week, proof-of-work difficulty stabilized at over 40000.
- I am happy that new users are showing interests in ppcoin project. The main design goal of ppcoin is to achieve energy efficient operation in the long term. I have taken some time to update the wiki instructions a bit to help out new users. I have also written a page called 'history of cryptocurrency' in ppcoin wiki, which I think is a useful summary of the main events and players in the field.
- The javascript wallet generator tool (bitaddress) is now linked from home page. Please fully test it before use, and let me know if there is any issue or non-functioning feature.
- A new mining pool vpool.us has opened with ppc support.
- Biticker now supports ppcoin.
- This week novacoin hit a protocol issue which required update. I have helped Balthazar to switch the protocol related to entropy bit generation, in order to keep the p2pool support for novacoin. ppcoin currently does not support p2pool and is not affected by the issue.
- I have been trying to help other altcoins to fix their problems too. A couple months back I offered to help freicoin to fix their difficulty adjustment when they first hit the problem (although they declined). Recently I have communicated with terracoin developer about a major vulnerability and now it is fixed via a protocol update in terracoin. Why am I doing this? I believe as a community we are all part of a big team that we really should help each other and work toward a common goal, while competing fairly with each other. It's sad to see malicious attitudes among different altcoin fans who attack each other viciously. I hope my action would bring more positive vibes to the community.
Have fun! |
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Wow, you confused me earlier. Our faucet has distributed 15 LTC in our 3 days of being live. 0.1-0.2 LTC per request. Can we agree this is a good faucet now?  I guess I am confused by your '14 cents per day' figure. If you say per request there would be no confusion. So your faucet gives each user 14 cents every day? That sounds strange for a faucet as the purpose of a faucet is to distribute small amounts to as many users as possible to help them get familiar with using the wallet. If you give an user coins every day, you can't really reach as many users. |
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Where is this faucet that gives 30 ppc a day?  I only found one for 2 ppc 30 ppc is the rough total the faucet distributes every day. Each request can get 2 ppc. |
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Really? I just tried it and it told me "Coins have recently been requested from your IP, please try again later." I think I used it once, like a month ago. So it's definitely not 'per day'.
Where did I say that you can request coins everyday from the same IP? |
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ppcoin official faucet distributes roughly 30 ppc a day, which worth more than 60 cents a day.
Plus no ads, no email.
When I have the same traffic and mining capabilities as PPcoin's official devs, I will happily match that price. At least you don't need a gmail, and at least the faucet is dripping, correct? Thanks for your feedback about the PPC faucet  Right, no email registration and it's fully automated otherwise I wouldn't have the time to operate it. |
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For viewers: 14 cents per day is the highest sustainable payout I've seen on any faucet. There is no bait and switch, all you have to say in an email or bitmessage is a sentence saying something that shows that you read the main page of the websites I link to.
ppcoin official faucet distributes roughly 30 ppc a day, which worth more than 60 cents a day. Plus no ads, no email. |
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You want the coins flowing though the economy, you don't want to give miners an even greater reason to horde.
You have taken the single biggest problem with BitCoin, the reward for hording, and made it many times worse for no benefit whatsoever.
Maybe, however in ppcoin the proof-of-stake generation serves an important role of securing the network, so unlike OP's proposal, it's earning through work and risk-taking, not reward for hoarding. |
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