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

[AndyRossy]

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

No memory involved, only current proof-of-work difficulty determines mint: mint = 9999 / (difficulty ** 0.25)

But the difficulty is a running average, correct? IMHO, that may explain the large oscillations we've seen: Someone with huge hashing power hashes for 3-4 days and waits for a few days, for the difficulty to cool down, rinse and repeat. It's rational: In the beginning the huge hashing power is more effective since the difficulty weighting takes into account prior times for lower diff. These leads to a situation where the baseline of miners effectively pays for the efficiency gain in mining of the large entity miner...

When the large-entity miner stops, the casual miner now enjoys lowering mining difficulty levels too without any cost aswell though. 

The reason we're seeing the oscillations is, that as soon as it becomes more profitable to mine PPC compared to BTC, people move over.  It's like pool-hopping, but, on a currency level. 

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[cunicula]

So price volatility is amplified by downward sloping supply. Weird, but okay. It doesn't matter in the long-run.

[AndyRossy]

woop thanks to doublec, ppc has now been actively traded on bitparking exchange for just over a month, with most days having volumes in the hundreds of thousands

[MaximousDarwin]

Please continue the good work

Cheers!

[Liquid]

We need PPC on https://btc-e.com/ 

[luffy]

I would prefer mtgox

[Liquid]

and mtgox

[AndyRossy]

We need PPC on https://btc-e.com/  

+1, although doublec's bitparking exchange is still nice.  

[Remember remember the 5th of November]

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

[Sunny King]

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

No you don't lose the stake it's only withheld for a few days after generating a block for the network. Here stake means more like shares than the gambling stake.

For more explanations on this topic please see our FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ

[Remember remember the 5th of November]

Ok, but is it possible in future versions to add a field in listtransactions that shows the age of the coins(in days if possible)? So I can for instance calculate faster and easier how much till they are stake?
Also, in the FAQ it says it will TRY to generate a stake block, what conditions control if I generate one or don't? And how often will it try to generate a stake block?

[AndyRossy]

I am sure it's been asked a lot, but there are dozens of pages here and searching would not be effective. But can someone tell me how you generate proof-of-stake blocks?
I know that you need to let the money "rot" for 30 or so days and then automagically blocks 'might' appear, but I'd really like a better explanation.

And what about the stake part? By stake I assume gambling where it's a win OR lose meaning I could find a proof-of-stake block or lose my money?

No you don't lose the stake it's only withheld for a few days after generating a block for the network. Here stake means more like shares than the gambling stake.

For more explanations on this topic please see our FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ

I will probably in next couple weeks put all the information together and form a secondary FAQ.

[Sunny King]

Ok, but is it possible in future versions to add a field in listtransactions that shows the age of the coins(in days if possible)? So I can for instance calculate faster and easier how much till they are stake?
Also, in the FAQ it says it will TRY to generate a stake block, what conditions control if I generate one or don't? And how often will it try to generate a stake block?

It's relatively random and you don't have much control on how often you get one other than that the more idle coins you have you would generate them more often. Also their age needs to be greater than 30 days.

[Sunny King]

Weekly Update #8

https://bitcointalk.org/index.php?topic=114994.msg1272094#msg1272094

[c4n10]

Stupid question here, the wiki says that proof-of-stake blocks will be generated after 30 days and that ppcoind will attempt to find proof-of-stake shares automatically for me.

When I open ppcoin-qt I do not see the ppcoind process running in task manager. If I run ppcoind I can open my wallet (ppcoin-qt). Does the wallet automatically run ppcoind? Will my wallet attempt to generate proof-of-stake shares automatically for me?

[irritant]

Stupid question here, the wiki says that proof-of-stake blocks will be generated after 30 days and that ppcoind will attempt to find proof-of-stake shares automatically for me.

When I open ppcoin-qt I do not see the ppcoind process running in task manager. If I run ppcoind I can open my wallet (ppcoin-qt). Does the wallet automatically run ppcoind? Will my wallet attempt to generate proof-of-stake shares automatically for me?

was wondering about this also, do i need to run ppcoind and ppcoin-qt at the same time? or is one (ppcoin-qt) enough?

[Liquid]

Hey i made a PPC logo  

what do you think, no expert btw lol

[luffy]

like a pirate flag 
put more color into it

[Liquid]

Ok what about this 

[AndyRossy]

Maybe, we should put up a bounty, something to make it worth it, like 5BTC, for a competition winner.

If we have maybe 5+ candidates, then we could all vote (for PPC logo obv)