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

[doublec]

Is that correct?

Open a second cmd.exe window after running ppcoin.exe in the other. Run "ppcoin.exe getinfo" in that other window and you should see something come back.

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[Bitcoin Oz]

This is certainly different enough from bitcoin to be interesting.

[Vorksholk]

Is that correct?

Open a second cmd.exe window after running ppcoin.exe in the other. Run "ppcoin.exe getinfo" in that other window and you should see something come back.

Ahh, thanks!! Will try tomorrow

[AMD FTW]

I'd appreciate it if someone could spoon feed me on how to set this up. I've spent the last 2 hours and am stumped

I intalled the ppcoin client. I see it in my appdata/roaming folder

I created a ppcoin.conf  file
inside i put

rpcuser=ppcoinAMDFTW
rpcpassword=a string of 10 numbers and letters


I saved the file, and try to run the daemon file
cd..\daemon
ppcoind


Nothing happens, its as if the cmd prompt freezes

[doublec]

Nothing happens, its as if the cmd prompt freezes

It's running. Open up another cmd prompt and run something like "ppcoind getinfo" and you'll see output as it connects to the one running in the first window.

[AMD FTW]

Nothing happens, its as if the cmd prompt freezes

It's running. Open up another cmd prompt and run something like "ppcoind getinfo" and you'll see output as it connects to the one running in the first window.

Ok well it shows i have 8 connections and a bunch of other stuff. The leads me to believe it is running. What confuses me is why my 2 7950 gpus via msi afterburner are at idle.

[doublec]

Ok well it shows i have 8 connections and a bunch of other stuff. The leads me to believe it is running. What confuses me is why my 2 7950 gpus via msi afterburner are at idle.

Are you pointing them to 127.0.0.1 port 9902?

[AMD FTW]

Ok well it shows i have 8 connections and a bunch of other stuff. The leads me to believe it is running. What confuses me is why my 2 7950 gpus via msi afterburner are at idle.

Are you pointing them to 127.0.0.1 port 9902?

It shows the IP as 98.193.75.196

How do I go about changing this?

[miscreanity]

Anyone pulling network stats yet?

[Rubberduckie]

Is a GUI client being created?

[markm]

Is a GUI client being created?

Apparently people are using the -qt client, that is GUI.

-MarkM-

[Rubberduckie]

Is a GUI client being created?

Apparently people are using the -qt client, that is GUI.

-MarkM-

Does that have to built from from source?

[killerstorm]

Finally, a real non-scam altcoin!

I wouldn't be so sure... It's based on original research and seems legit, of course.

But on the other hand, as author notes proof-of-stake of this form doesn't provide protection against double-spend attacks: stake is not lost in a double-spend, so essentially people are free to participate in double-spends.

Which makes proof-of-stake essentially useless, double-spend protection is supposed to come from centralized time-stamping.

So what we get is a currency which is protected with centralized time-stamping, and a proof-of-stake used essentially just for initial distribution of coins. Which encourage owning as much coins as possible...

I'm not claiming that authors have any malicious intents, they are probably too intelligent to be scammers...

But I'm saying that currency like that would make a lot of sense for pump & dump scheme. (More so than Bitcoin clone.)

And in a long term it makes no sense since authors hope that some future magic algo will solve all issues.

So I would only seriously consider this only after authors provide analysis of economics of double-spend attacks.

(Note that Satoshi did provide some analysis of forking costs in his paper, and he mentioned some economic aspects.)

Before that it is just a proof-of-concept, not a currency.

[iddo]

Hello Sunny King,

So a stakeholder (without investing in any high-hashpower hardware) could try to mount a double-spending attack and reverse a txn before the next checkpoint, by broadcasting a secret forked branch that he prepared with a higher total consumed coin age (a.k.a. BDD) ? Have you tried to analyse the potential for double-spending attacks in this protocol?

The centrally broadcasted checkpoints mechanism sounds like an extremely bad idea, do you concede that the entity that controls this mechanism can easily mount double-spending attacks? The whole point of proof-of-stake is that the stakeholders would establish the checkpoints in a distributed fashion, which can be done.

Luke-Jr, how come this centrally broadcasted checkpoints mechanism passed your scam smell-test so easily?

[killerstorm]

(Elaborating on my previous comment a bit.)

Let's imagine lack of centralized checkpointing to consider proof-of-stake on its own.

Any rational person who has enough stake MUST try to do double-spends. Otherwise he just leaves money at the table.

There is no downside. If his reorg did not work, he doesn't lose anything (aside from little proof-of-work) and is free to try again.

So I envision future of such cryptocurrency like this: some individual or a group will accumulate a large stash of coins, wait till they are mature and will organize a double-spending service: they will accept transactions to be double-spend and then use their stash of coins to do history rewriting for a kick-back.

It's more like a game.

Checkpointing would make deep history rewrites impossible, but then security comes from centralized checkpointing alone. I.e. it is not a decentralized currency at all.

[markm]

I am seeing a huge rate of hardware errors mining this with Diablo miner, way more than I see when using same miner to merged-mine umpteen coin types at once...

-MarkM-

[markm]

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.

I did a git clone of that, using git clone https://github.com/luke-jr/bitcoin.git since that is the cloning URL github shows for grabbing that repo; but trying to run the resulting daemon gets an error I have never seen before:

Code:

************************
EXCEPTION: NSt8ios_base7failureE       
ReadCompactSize() : size too large       
bitcoin in AppInit()       

terminate called after throwing an instance of 'std::ios_base::failure'
  what():  ReadCompactSize() : size too large

-MarkM-

[FuzzyBear]

Anyone got any step by step instructions to setting up mining on PPCoin??? I have got the script all working fine and the wallet updating with the latests blocks and transactions... but I just can't seem to get a miner configured correctly..  Any help and i'll donate the first Block I successfully mine.

Regards

Peter

[server]

Anyone got any step by step instructions to setting up mining on PPCoin??? I have got the script all working fine and the wallet updating with the latests blocks and transactions... but I just can't seem to get a miner configured correctly..  Any help and i'll donate the first Block I successfully mine.

Regards

Peter

https://github.com/ppcoin/ppcoin/wiki/Installation

[doublec]

I did a git clone of that, using git clone https://github.com/luke-jr/bitcoin.git since that is the cloning URL github shows for grabbing that repo; but trying to run the resulting daemon gets an error I have never seen before:

Did you change to the ppocoin branch after cloning?