[ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency

[dust]

I still do not understand proof of stake very well.  Do miners collect transaction fees just by holding coins?

[MAD_MAD]

You get to "mine" proof-of-stake by holding-and-spending coins in a manner that maximizes their age.

In principle, the idea is rather good.

In this implementation - not so sure   

[Sunny King]

- Initial release is command line (daemon) only. If you don't know how to use it read Bitcoin wiki and our wiki or ask others for help.
- Proof-of-work difficulty starts at 256 and then continuously adjust (same as bitcoin hash algorithm)
- No premine. See the prerelease thread. Release build was published 5 minutes before block chain start time
- Checkpoint will try to checkpoint *every* proof-of-work block. This way malicious powerful miners can't kick good nodes' blocks. We will review this policy after the network begins to mature.

[FuzzyBear]

I tried to get the client running but it says something about RPCpassword and such
Anyone care to help me?
//DeaDTerra

you need to make ppcoin.conf

in ./ppcoin folder

I have made on in the roaming/PPcoin it's called ppcoin.conf
and it contains
rpcuser=bitcoinrpc
rpcpassword=
but it doesn't work
//DeaDTerra

You need to give it a password.

I gave it a password, still didn't work. Must the pass have certain characteristics.
//DeaDTerra

I have similar issue as mentioned by DeadTerra....

Message says that there is no file is there C:... /ppcoin/ppcoin.conig....blah blah

Yet I had created the file etc.. was editing it and not sure why still getting message....

RESOLVED - Looked in the folder where the config file should have been .. and there were 2 files as one wa already created... and with all the lines commented out... altered the lines

rpcuser=User
rpcpassword=pass

and that got rid of that error message


However now i just get blank screen on running ppcoind.exe

Any ideas.. setting in config i take it... alredy allowed access through firewall.

[caston]

I have been mining since release but haven't yet found a block.. I am using cgminer with a single 6950 with locked shaders and I'm on wifi to my adsl router ):

 getinfo
{
    "version" : "v0.1.0ppc-beta",
    "protocolversion" : 60001,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "newmint" : 7251.48000000,
    "stake" : 0.00000000,
    "blocks" : 170,
    "connections" : 30,
    "proxy" : "",
    "ip" : "x.x.x.x",
    "difficulty" : 332.00664925,
    "testnet" : false,
    "keypoololdest" : 1345399274,
    "keypoolsize" : 101,
    "paytxfee" : 0.01000000,
    "errors" : ""


BTW do I get anything for posting a ppcoin address?

PJRLE7zanc9eQL477z6r1CWnBpRxPpxZbu

[markm]

I haven't read anything about it being merged-mine-able, yet it claims to be energy-efficient.

I don't' see a lot of efficiency in requiring the use of more electricity instead of simply adding it to one's merged-mining lineup...

So far it thus looks less energy-efficient than Namecoin, Devcoin, Groupcoin, I0coin, Ixcoin, and Coiledcoin, all of which can all be mined at once using less added electricity in total for the lot of them  than this newfangled thing uses...

-MarkM-

[mc_lovin]

this can be mergemined with LTC someday?

edit: lol i should have read markm's post lol .  I assume so !

[markm]

I have been mining since release but haven't yet found a block.. I am using cgminer with a single 6950 with locked shaders and I'm on wifi to my adsl router ):

 getinfo
{
    "version" : "v0.1.0ppc-beta",
    "protocolversion" : 60001,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "newmint" : 7251.48000000,
    "stake" : 0.00000000,
    "blocks" : 170,
    "connections" : 30,
    "proxy" : "",
    "ip" : "x.x.x.x",
    "difficulty" : 332.00664925,
    "testnet" : false,
    "keypoololdest" : 1345399274,
    "keypoolsize" : 101,
    "paytxfee" : 0.01000000,
    "errors" : ""


BTW do I get anything for posting a ppcoin address?

PJRLE7zanc9eQL477z6r1CWnBpRxPpxZbu

Using just half the hashing power of my 5870 I got a block in minutes, I wonder how it decides how many coins to assign though, look at how many I purportedly get:

Code:

        "account" : "",
        "category" : "immature",
        "amount" : 2331.41000000,
        "confirmations" : 3,
        "blockhash" : "000000000030f4d84dbc5ca5aa7c7465f7f8ee89b5c77750acd3401ea7476166",
        "blockindex" : 0,
        "txid" : "7f9322b86c8b5d4db4af890b7bf8a8126fd73c84fda60c7374404d0752ec4c31",
        "time" : 1345424597

-MarkM-

[dust]

The block reward appears to be consistently decreasing.  The first block I mined was worth 2481.75.  Maybe it is some sort of exponential decay from 2500/block?

[markm]

The block reward appears to be consistently decreasing.  The first block I mined was worth 2481.75.  Maybe it is some sort of exponential decay from 2500/block?

That "newmint" : 7251.48000000 caston's getinfo output shows might be how many coins the next block will mint?

Maybe they set it up to give tons of coins to first few miners, less to others later?

Haven't read the whitepaper yet... (Coin first, settle down to read once coin is coming in...)

-MarkM-

[caston]

Is there anyway to find out what kind of hashing power is being thrown as this?

I am unsure if I should let it keep mining or just give up.

oh yes!! [2012-08-20 09:31:24] Accepted 00201e72.b6a12db1 BLOCK! GPU 0

[dust]

The block reward appears to be consistently decreasing.  The first block I mined was worth 2481.75.  Maybe it is some sort of exponential decay from 2500/block?

That "newmint" : 7251.48000000 caston's getinfo output shows might be how many coins the next block will mint?

Maybe they set it up to give tons of coins to first few miners, less to others later?

Haven't read the whitepaper yet... (Coin first, settle down to read once coin is coming in...)

-MarkM-

"newmint" is equal to the total coins I have mined.  It may only refer to unconfirmed generations, but since it takes 520 blocks to mature, I do not know yet.  I've mined quite a few blocks and the reward drops slightly every one.

[markm]

Is there anyway to find out what kind of hashing power is being thrown as this?

I am unsure if I should let it keep mining it just give up.

You are using normal mining, right? Not scrypt?

-MarkM-

EDIT see post just above this one; supposedly that newmint figure means you HAVE mined coins. Have you done listtransactions to see unconfirmed ones?

-MarkM-

[dust]

Is there anyway to find out what kind of hashing power is being thrown as this?

I am unsure if I should let it keep mining or just give up.

The difficulty is constantly adjusting, so it's current value is fairly representative of the total hash power.  Plug in the current difficulty (346.33 at time of posting) into http://allchains.info/calc.html to see you expected generation rate.  Currently, a single 5870 should find a block per hour.

Is there anyway to find out what kind of hashing power is being thrown as this?

I am unsure if I should let it keep mining it just give up.

You are using normal mining, right? Not scrypt?

-MarkM-

EDIT see post just above this one; supposedly that newmint figure means you HAVE mined coins. Have you done listtransactions to see unconfirmed ones?

-MarkM-

I built the "bitcoin-qt" (yes, it is still named that) version so I can see the generations and time to maturity.

[caston]

Is there anyway to find out what kind of hashing power is being thrown as this?

I am unsure if I should let it keep mining it just give up.

You are using normal mining, right? Not scrypt?

-MarkM-

EDIT see post just above this one; supposedly that newmint figure means you HAVE mined coins. Have you done listtransactions to see unconfirmed ones?

-MarkM-

ahh yess... thank you sorry my mind hasn't been in the right place lately... i've got a horrible short position that is in the red at the moment on a bank and the falling btc price didn't help either...

anyway here is the log:

chris@chris-GA-790FXTA-UD5:~/Downloads/p/ppcoin-0.1.0ppc-linux/bin/64$ ./ppcoind listtransactions
[
    {
        "account" : "",
        "category" : "immature",
        "amount" : 2493.09000000,
        "confirmations" : 190,
        "blockhash" : "0000000000e77017e94fa5d2b5915518fbd305677032fb53d762184bae4e08ea",
        "blockindex" : 0,
        "txid" : "dd545c3072e757419d48a936f722eab8e2cb6b77bd98ae8afd7f88e415a68f27",
        "time" : 1345402696
    },
    {
        "account" : "",
        "category" : "immature",
        "amount" : 2381.28000000,
        "confirmations" : 74,
        "blockhash" : "0000000000b4755b8bc9bdb650d822c00b08b0173f9d7246aa956f9ff8e41a40",
        "blockindex" : 0,
        "txid" : "c78d49072772c121e57e082dd1b7fe6db92a4a950ba1783eed0c444de8fbf2fb",
        "time" : 1345417050
    },
    {
        "account" : "",
        "category" : "immature",
        "amount" : 2377.11000000,
        "confirmations" : 68,
        "blockhash" : "0000000000918144d110636fda387440b7f45a800b14823e83c28194379ee5fd",
        "blockindex" : 0,
        "txid" : "4d806c0a3adcdbe5bf0c0b2f04ca353b3c632a161b14ab1422abee8332a63151",
        "time" : 1345418549
    },
    {
        "account" : "",
        "category" : "orphan",
        "amount" : 2316.08000000,
        "confirmations" : 0,
        "txid" : "6c834f2a6f474a6cec31cc027f7dc0150efc8ef9af97f98e8dcedf385ac44eee",
        "time" : 1345426283


Thank you!

[Luke-Jr]

Finally, a real non-scam altcoin! I'm not about to endorse it just yet, and time will tell if scammers turn it into a scamcoin, but it looks promising so far. Maybe if it keeps clean I'll even add support to Eligius in a few weeks

Also, I've created a branch with the latest bugfixes from Bitcoin-Qt 0.6.x.

[Vorksholk]

Launched the executable from the command line, set up the config file right, but I'm not able to type commands into the window, no typing shows up... did I do something wrong?

[markm]

Launched the executable from the command line, set up the config file right, but I'm not able to type commands into the window, no typing shows up... did I do something wrong?

Unless you mean a GUI window of the GUI (-qt) version, it sounds like you started ppcoind without telling it to become a daemon, thus the commandline window you used to start it is still connected to its input and output instead of being freed up to await your next command...

-MarkM-

[Vorksholk]

Launched the executable from the command line, set up the config file right, but I'm not able to type commands into the window, no typing shows up... did I do something wrong?

Unless you mean a GUI window of the GUI (-qt) version, it sounds like you started ppcoind without telling it to become a daemon, thus the commandline window you used to start it is still connected to its input and output instead of being freed up to await your next command...

-MarkM-

I launched it like this:
cd <directory>
ppcoin.exe -server -daemon

Is that correct?

[markm]

Daemon is right, for daemons. -server though is I think something for the GUI app to make it also accept rpc connections or something like that. I don't use it with the daemons, and that might be precisely because it doesn't work or does like you are seeing.

-MarkM-