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

[Sunny King]

We now have our own dedicated Forum for PPCoin discussion   http://ppcointalk.org feel free to join and use and give me feedback and tips please .... especially the "forum design...and general mods" 

I am really touched by the enthusiasm and dedication by the small community we have now. I will try to do my best 

[1714146480]

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[Rubberduckie]

Just signed up to the forum, but I get "You are not allowed to post new content in the forum."

[FuzzyBear]

Just signed up to the forum, but I get "You are not allowed to post new content in the forum."

I'm looking into this now thank you for joining

[Rubberduckie]

Just signed up to the forum, but I get "You are not allowed to post new content in the forum."

I'm looking into this now thank you for joining

It's working now, so all good

Good job creating the forum btw

[Tittiez]

So I saw people buying PPCoin's at 0.001 or something, what is the current profitability estimate? What is the current difficulty? I might set my backup pool when I'm not hopping to NothinG's if they are profitable. I want to see how proof of stake ends up working long-term.

[Rubberduckie]

So I saw people buying PPCoin's at 0.001 or something, what is the current profitability estimate? What is the current difficulty?

Is there an exchange up already?

Current difficulty is 3886, approx 1266 coins per block

[Tittiez]

So I saw people buying PPCoin's at 0.001 or something, what is the current profitability estimate? What is the current difficulty?

Is there an exchange up already?

Current difficulty is 3886, approx 1266 coins per block

I saw this thread

https://bitcointalk.org/index.php?topic=102329.0

He is selling them for 0.001 each.

[irritant]

ive installed it on 2 computers, now i thought it was smart to connect one miner to the other computer like this

bitcoin-miner-64.exe -t 4 -o http://ppcoinrpc:passwordblabla@192.168.0.102:9902
but it says:
HTTP 403: Forbidden
HTTP 403: Forbidden
0 kHash/s          4 CPU threads

when i use:
bitcoin-miner-64.exe -t 4 -o http://ppcoinrpc:passwordblabla@127.0.0.1:9902

it does work

Using CPU (4 threads)
12.92 MHash/s      4 CPU threads

i've added these lines in ppcoin.conf:
rpcallowip = 127.0.0.1
rpcallowip = 192.168.0.102

is that correct way to add more ips?  something seems to be wrong, anyone knows how to connect one computer miner to the ppcoind server that is running on the other?  


edit: i guess i have to setup ssl like this https://en.bitcoin.it/wiki/Enabling_SSL_on_original_client_daemon 

but havent been able to do this... because i'm on windows... , tried connecting to NothinG's pool, also does not work (same connection problems) ...

[NothinG]

ive installed it on 2 computers, now i thought it was smart to connect one miner to the other computer like this

bitcoin-miner-64.exe -t 4 -o http://ppcoinrpc:passwordblabla@192.168.0.102:9902
but it says:
HTTP 403: Forbidden
HTTP 403: Forbidden
0 kHash/s          4 CPU threads

when i use:
bitcoin-miner-64.exe -t 4 -o http://ppcoinrpc:passwordblabla@127.0.0.1:9902

it does work

Using CPU (4 threads)
12.92 MHash/s      4 CPU threads

i've added these lines in ppcoin.conf:
rpcallowip = 127.0.0.1
rpcallowip = 192.168.0.102

is that correct way to add more ips?  something seems to be wrong, anyone knows how to connect one computer miner to the ppcoind server that is running on the other?  


edit: i guess i have to setup ssl like this https://en.bitcoin.it/wiki/Enabling_SSL_on_original_client_daemon 

but havent been able to do this... because i'm on windows... , tried connecting to NothinG's pool, also does not work (same connection problems) ...

Did you do

Code:

server=1

?

[irritant]

yes ,
i got it working, had to restart ppcoind.exe  

only mining locally, want to try on your pool tomorrow, i'm going to sleep now

edit:
fyi im using poolers cpu miner for best performance, it looks like it is ~10Mhash faster

minerd -a sha256d -o http://127.0.0.1:9902 -u user -p pass

(and on the other machine i use cgminer for the gpu)

[Tittiez]

Someone want to send any amount of PPC to my address to make sure its working please? (Even .01)

PRRqRbQaoqiqfAgBD4RaTtTk3sxRpZeSBT

[irritant]

i'm getting a lot of messages like this:

******* exception encountered *******
ProcessMessages(tx, 798 bytes) : Exception 'CDataStream::read() : end of data' caught, normally caused by a message being shorter than its stated length
ProcessMessage(tx, 798 bytes) FAILED
askfor tx a23942f142d07b45a397   0
sending getdata: tx a23942f142d07b45a397

in %APPDATA%\Roaming\PPCoin\debug.log

i dont know what it means or if it is important..., miners are working correctly (at least, so it seems)

[luffy]

Someone want to send any amount of PPC to my address to make sure its working please? (Even .01)

PRRqRbQaoqiqfAgBD4RaTtTk3sxRpZeSBT

i sent 0.01
question: fee is mandatory? can't be selectable like BTC?

btw: i like your nick, i should change mine to oPPai  :p

[Sunny King]

i'm getting a lot of messages like this:

******* exception encountered *******
ProcessMessages(tx, 798 bytes) : Exception 'CDataStream::read() : end of data' caught, normally caused by a message being shorter than its stated length
ProcessMessage(tx, 798 bytes) FAILED
askfor tx a23942f142d07b45a397   0
sending getdata: tx a23942f142d07b45a397

in %APPDATA%\Roaming\PPCoin\debug.log

i dont know what it means or if it is importand..., miners are working correctly (at least, so it seems)

This is a known issue where Bitcoin tx presumably were somehow broadcasted from a node bridged with Bitcoin network. This is not affecting the block chain or your client other than dumping these exception messages into the logs.

We are working on a network protocol upgrade in v0.2 so in the future you will see clean log messages.

[Sunny King]

i sent 0.01
question: fee is mandatory? can't be selectable like BTC?

btw: i like your nick, i should change mine to oPPai  :p

Yes fee is required with default and minimum 1 cent per kilobyte. You can use listtransactions to see the exact fee paid for the transaction.

[phedny]

I think the idea of proof-of-stake is quite interesting...

I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:

• Exactly what is used as input in a coinstake transaction? My best interpretation would be that all outputs in your wallet are included, such that the correct coin-age can be computed. Wouldn't this effectively kill privacy as it links all your outputs together?
• Will proof-of-stake result in the richest people having to say the most? Exactly what decision could they force by using their PPC-wealth?
• Is it possible to keep PPCoins laying around for a long time, just to build up coin-age and use this to force some decision onto the network at a later time?
• What outputs can be used in the coinstake? Must those output be consumed already or must they still be available?

As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.

In any way, I think you're doing some good work in creating an implementation to start trying new ideas!

[Sunny King]

I think the idea of proof-of-stake is quite interesting...

I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:

• Exactly what is used as input in a coinstake transaction? My best interpretation would be that all outputs in your wallet are included, such that the correct coin-age can be computed. Wouldn't this effectively kill privacy as it links all your outputs together?
• Will proof-of-stake result in the richest people having to say the most? Exactly what decision could they force by using their PPC-wealth?
• Is it possible to keep PPCoins laying around for a long time, just to build up coin-age and use this to force some decision onto the network at a later time?
• What outputs can be used in the coinstake? Must those output be consumed already or must they still be available?

As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.

In any way, I think you're doing some good work in creating an implementation to start trying new ideas!

- coinstake does not put all your coins inside, as you observe correctly that would compromise privacy. the built-in minter only sometimes try to combine small coins from the same address/key
- yes and that's intended, just like in proof-of-work case those who own the highest hashrate having the most say. they could affect the decision in deciding main chain.
- to a very limited extent yes. this question has to be considered with our v0.2 main chain protocol, which will use proof-of-stake difficulty to score competing chains. you'd need to accumulate a *lot* of coin age to force large reorgs, my estimate is you need a large portion of all coin age currently participating in the protection of the network. So I classify this sort of double-spending attack on the same level of 51% attack on proof-of-work.
- output is no different from user transaction, only difference is it includes a reward (proof-of-stake mint) and is held for maturity (520 blocks same as coinbase)

[Vorksholk]

I've looked around and I just want to clear up one idea about this coin:

If I have more coins, am I more likely to mine coins?

Like if I have 2000 coins and 1.5GH/s, am I more likely to mine a coin than someone who has 1000 coins and 1.5GH/s? And less than someone with 10000 coins and 1.5GH/s?

Edit: that is in 3 weeks huh?

[Sunny King]

Weekly Update #1

• PPCoin has sailed through our first week with aplomb. There is a small annoyance where users see quite a bit exception messages in debug log about tx messages, and is linked to Bitcoin transactions somehow broadcasted on our network. We are currently investigating a network protocol upgrade for v0.2 to solve this problem. Block chain and user transactions have been working normally throughout the week and not affected by this annoyance.
• In v0.2 a main chain protocol upgrade is expected as I described in https://bitcointalk.org/index.php?topic=102342.0. The code of this has been done, as well as some other improvements. This protocol switch is important and will help us achieve the goal of decentralization in the future. I am also working on setting up public test network. Over next week v0.2 code would go through testing and be prepared for release.
• I didn't expect that within the first week both a mining pool (NothinG) and a forum website (FuzzyBear) were set up with the ppcoin network. Kudos to our ardent and productive supporters and I believe our still small community has great prospects.
• While the proof-of-stake blocks are still not due for another 3 weeks, our users should have already observed our difficulty adjustment is continuous. In principle it isn't that much different from Bitcoin, standard averaging techniques are used to achieve constant adjustment. This design helped a lot during our first 3 days, where difficulty climbed from an initial 256 to over 3000. The constant adjustment of difficulty also helps with protecting the kernel, but this is probably a bit premature to be discussed right now.
• First week total mintage is 3~4 million coins. We thank our supporters for contributing resources to help the network get started. I am an entrepreneurial type as well as an architect/techie, and I understand taking risks deserves matching reward. The mint curve is quite fair in my opinion, as everyone has free choice to participate in the early stages.

Have fun and next week!

[kwukduck]

Are there any exchanges? i want to exchange all my BTC to PPC, with this new bitcoin replacement bitcoin seems of the long past and has no future.