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Author Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency  (Read 653840 times)
Sunny King
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April 15, 2013, 08:05:02 PM
 #981

Statement Regarding flibbr's Accusation of Large Premine at PPCoin's Launch

In response to: https://twitter.com/flibbr/status/323718244210982912

People should really do some research. There are a lot of misinformation bandied about on the web because some altcoin fans just can't handle competing fairly and squarely. I hope the creator of flibbr would realize that he was fooled by the false rumors.

ppcoin was pre-announced on August 10, 2012 in

https://bitcointalk.org/index.php?topic=99735.0;all

block chain officially started on August 19, 2012 in

https://bitcointalk.org/index.php?topic=101820.0

That's 9 days of notice to the public before release, with precise release schedule, and announced right here on the most populated cryptocurrency forum, rather than some obscure place. Check out all the other altcoins, I bet you would find that we had one of the most fair launch of all altcoins, if not the most fair launch. PPCoin has 0 premine (even genesis block has 0 mint), 0 taxation. Difficulty started at 256, unlike many other altcoins which were started with very low difficulty. Difficulty adjustment is continuous, which means there were a lot less number of low difficulty blocks.

Some people like to point out the high mintage in the first few days of the launch, this is another misunderstanding. In the first few days of any publicly released cryptocurrency the mintage is going to be relatively high because difficulty is low and lots of miners would like to participate, causing blocks to be generated much faster than usual and resulting in high mintage per day. Unlike most other altcoins, we already tried to mitigate this by starting difficulty at higher initial value of 256 and also further reducing the number of low difficulty blocks via continuous difficulty adjustment.

There are other accusations that our minting algorithm is unfair, as we didn't wait 4 years before the first halving occurrs like in bitcoin. First, our algorithm is another innovation to demonstrate that hard cap isn't required to guarantee scarcity. I am a cryptocurrency architect designing for real innovations, not out to copy bitcoin's design. Our design eliminated the sudden halving that artificially impacts the mining market. A gradual reduction in mining output is a necessary guarantee of scarcity, while providing somewhat more incentive for investors. People are often jealous about these 'early adopters', failing to realize that without their participation and enthusiasm the project might not even reach the current state. As a designer I must carefully balance all these aspects. The mint reduction rate is carefully chosen so it matches bitcoin's mint reduction rate in the longer term.

I hope this would clear a lot of misinformation regarding ppcoin. We have always tried to hold us to the highest professional standard in the industry. This is in fact shown in our handling of ppcoin's launch. I sincerely thank our supporters helping to clear our name in the market against the malicious misinformation thrown on the web.
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April 15, 2013, 09:34:32 PM
 #982

thank you sunny king for this great post!
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April 15, 2013, 09:38:30 PM
 #983

Thank for clearing this up with this much patience.

I guess some people would like an ELI5 explanation of the distribution algorithm.

It's certainly not as easy to understand than bitcoin's halvings.
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April 15, 2013, 09:50:51 PM
 #984

Is there a wallet app for PPC that works with the latest Mac OS X 10.8.3?
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April 17, 2013, 12:05:09 AM
 #985

still do not understand how to mine ppcoin? Any tutorial teaching? I am very grateful hugs
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April 17, 2013, 12:07:19 AM
 #986

still do not understand how to mine ppcoin? Any tutorial teaching? I am very grateful hugs
The same way you do with bitcoin when solomining.

https://coinotron.com support PPC
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April 17, 2013, 12:19:33 AM
 #987

CGminer also use the? could you explain how to configure it?
talk about what the PPC be economical in terms of how it works enegia Electric did not understand what exactly?

sorry for bad english
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April 17, 2013, 12:38:21 AM
 #988

CGminer also use the? could you explain how to configure it?
talk about what the PPC be economical in terms of how it works enegia Electric did not understand what exactly?

sorry for bad english
Same as with bitcoin I said.

You cannot ask for private lessons on page 50+, please start you own thread.

Ps: I did not understand your 2nd question.
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April 17, 2013, 02:31:35 AM
 #989

of the energy-Efficient ppcoin means what? did not understand that part
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April 17, 2013, 09:47:56 PM
 #990

how do I mine or generate new PPCoin?
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April 18, 2013, 02:12:09 AM
 #991

how do I mine or generate new PPCoin?
Is this a joke ? For the 3rd time , The same way you do with bitcoin, By solo-mining or pool mining.

The pool https://coinotron.com support PPC
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April 18, 2013, 03:26:47 AM
 #992

PPCoin may be the official name but I like to call it the Peercoin.

My latest nickname is Steve_1982
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April 18, 2013, 03:46:28 AM
 #993

PPCoin may be the official name but I like to call it the Peercoin.

You can call it peer-to-peer coin or peercoin if you have to. I think quite a number of users already use those. ppcoin was intended to mean peer-to-peer coin by the way.

Please don't ask me to change official name again. It's already decided that the name would stay.
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April 18, 2013, 07:32:27 AM
 #994

Sunny King

Please introduce getblocktemplate RPC in next release of PPC. Smiley
My pool is overloaded by getwork PPC requests. I would like to start PPC stratum pool.
Unfortunately merging GBT code into current version is not so straightforward as in case of LTC. Otherwise I would do it my self Tongue

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April 18, 2013, 09:11:44 AM
 #995

Just for the record.
In Russian PPC is pronounced "ППЦ". It is abbreviated form (like OMG or WTF in English) of "fucking hell" more or less. I.e. a situation like you've crashed your car and lost your job on the same day. Or your town suffered from nuclear bombing/meteor shower/tsunami/etc.

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April 18, 2013, 09:48:07 AM
 #996

Sunny King

Please introduce getblocktemplate RPC in next release of PPC. Smiley
My pool is overloaded by getwork PPC requests. I would like to start PPC stratum pool.
Unfortunately merging GBT code into current version is not so straightforward as in case of LTC. Otherwise I would do it my self Tongue

You might want to have a look at my git forks:
https://github.com/TheSeven/ppcoin
https://github.com/TheSeven/stratum-mining

Intelftw's pool (ppcoin.d7.lt) already uses those, and Vuxil's pool (vpool.me) is being switched over to that backend right now.

Please note that in the configuration file of the pool server, you have to specify a compressed pubkey in hex notation (66 digits, starting with 02) instead of an address due to the nature of how ppcoin works internally.

BTW, I'm also working on writing my own pool server right now. The work generation and share tracking parts are mostly finished, the accounting, reward calculation and frontend parts still need to be done.

I'd appreciate a donation to PMWM8mwVYKDypzmUWCJW45bpKmFkBZtnLi or 12nsad13V93jXDMi2Y5WejRkr7Z3xZ41DG if this solves your problem Smiley

My tip jar: 13kwqR7B4WcSAJCYJH1eXQcxG5vVUwKAqY
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April 18, 2013, 11:50:04 AM
 #997

Just for the record.
In Russian PPC is pronounced "ППЦ". It is abbreviated form (like OMG or WTF in English) of "fucking hell" more or less. I.e. a situation like you've crashed your car and lost your job on the same day. Or your town suffered from nuclear bombing/meteor shower/tsunami/etc.

In case PPC really takes off and gets traded by financial institutions, it may have the symbol XPC (or XPP) where X stands for international similar to how gold and silver are traded as XAU and XAG respectively.

I'm in no way suggesting an internal name or code change. Different circles may call ppc by different codes and names but at the end of the day, it is ppc.

My latest nickname is Steve_1982
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April 18, 2013, 12:59:57 PM
 #998

Just for the record.
In Russian PPC is pronounced "ППЦ". It is abbreviated form (like OMG or WTF in English) of "fucking hell" more or less. I.e. a situation like you've crashed your car and lost your job on the same day. Or your town suffered from nuclear bombing/meteor shower/tsunami/etc.

Nintendo Wii sounds like 'wee' as in 'urine'. It's sold 100 million units world wide and is marketed as a family friendly entertainment system.

If an idea is good, the name isn't important.

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April 18, 2013, 08:55:16 PM
 #999

i'm not a developer but i find your attitude infectious Sunny, especially in seeing what cryptocurrencies can really accomplish. i hope your efforts in this affect all of us (and they already are!) thank you for your work! you have a great mind that's well taken care of Smiley i have enjoyed reading your posts.
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April 18, 2013, 09:07:58 PM
 #1000

i'm not a developer but i find your attitude infectious Sunny, especially in seeing what cryptocurrencies can really accomplish. i hope your efforts in this affect all of us (and they already are!) thank you for your work! you have a great mind that's well taken care of Smiley i have enjoyed reading your posts.

Thanks for the compliment  Smiley Satoshi's work inspires me and I hope my work could inspire more people to join the exciting new field  Smiley
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