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

[Sunny King]

Is there something wrong with the PPC network today?  Only 3 Proof of Work blocks are found today and the estimated hashrate is all the way down to a low of 10 G Hash/Second!  Is there something that I am unaware of post-update 2 days ago?  

Network looks alright to me so far. Hash rate fluctuates wildly that's normal. A lot of miners have switched back to BTC due to lower profitability of altcoins.

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[Vitalicus]

I trying solo mining.

[mr_random]

I trying solo mining.

You picked a winner son 

[Sunny King]

FYI

Ron Gross's presentation on altcoin technologies.

http://www.slideshare.net/ripper234/alternative-payment-technologies-march-2013

[Sunny King]

FYI

I added a section 'history of cryptocurrency' to the ppcoin wiki

https://github.com/ppcoin/ppcoin/wiki/History-of-cryptocurrency

[mr_random]

FYI

I added a section 'history of cryptocurrency' to the ppcoin wiki

https://github.com/ppcoin/ppcoin/wiki/History-of-cryptocurrency

Nice chronological list.

[H@ml3t]

I have a proposal to fix the blocksize limit in PPCoin.


I think we should integrate a new value x in the block header. This value x must be higher or equal than one, and is a multiplier to the minimum maximal blocksize limit of 1mb. If over the last y-amount of blocks, the amount of txs with the minimum transaction fees (current 0,001 PPC I think) is less than z% (i think 50% could be a proper value), x gets raised and so the maximum blocksize limit, if the amount of txs with the minimum transaction fee over the last y-amount of blocks is higher than z% of total transactions, it gets lowered, but never below 1.

So the formula for the size of blocks not to be rejected would be blocksizelimit=x*1mb.
The formula how to determine x in the next block would be x=if(amount of blocks with minimum transaction fee within the last y blocks/total transactions within the last y blocks) is less than z, raise by t, if not lower by t. I think something way more flexibel like the current difficult adjustment would be better, but I'm not a coder, so I don't know which logic would fit the best.

By that we can keep the blocksize flexibel to allow the network scale, prevent the creation of far too large blocks, and can keep the transaction fees low. As miners are motivated to include the highest fee txs in their blocks first, it is secure that bad-minded miners don't include only low fee txs in order to harm the scalability of the network. Boosting the maximum blocksize limit by spamming txs with high fees is also not very economical.

The only flaw in this design I can see at the moment is that it might be more economical to include more low fee txs to increase the blocksize limit, so you can include more txs per block in the future and that way the miners benefit more than if they would only include high fee transactions, but I believe if the values of y and z, so as the formula how x gets raised/lowered (e.g the value if t) is choosen carefully this can be prevented.

Please post any thoughts and comments you have about this. Best regards, hamlet.

[punin]

To my understanding tx fees are destroyed in ppcoin.

[doublec]

https://github.com/ppcoin/ppcoin/wiki/History-of-cryptocurrency

Nice. CoiledCoin is the only one, of the coins that got a lot of attention, missing that I noticed.

[Sunny King]

https://github.com/ppcoin/ppcoin/wiki/History-of-cryptocurrency

Nice. CoiledCoin is the only one, of the coins that got a lot of attention, missing that I noticed.

Added coiledcoin. Thanks!

[Sunny King]

FYI

Biticker (a free chrome extension) is now supporting ppcoin

https://chrome.google.com/webstore/detail/biticker/fblekdojabihjdhndhmloalbcnnejddl?hl=en

[Vuxil]

Sounds pretty awesome, I'll be keeping an eye on this one and mine it a bit!

[Vuxil]

How do I mine PPCioin? 

Are there pools?

http://ppcpool.bitparking.com/pool
https://coinotron.com

Or try solo mining

[khamark]

can someone help me with solo configuration? i created a ppcoin.conf that i've put in the same wallet's directory, it has this inside

rpcuser = user**
rpcpassword = pass**
server = 1
rpcallowip = 127.0.0.1

also i tried adding this line:
rpcport= 9902

then i run ppcoind
then i run cgminer and introduce this:

pool:
http://127.0.0.1:9902
user: user**
password: pass**

when i hit enter it gives me error, what am i doing wrong? please help

[dreamwatcher]

can someone help me with solo configuration? i created a ppcoin.conf that i've put in the same wallet's directory, it has this inside

rpcuser = user**
rpcpassword = pass**
server = 1
rpcallowip = 127.0.0.1

also i tried adding this line:
rpcport= 9902

then i run ppcoind
then i run cgminer and introduce this:

pool:
http://127.0.0.1:9902
user: user**
password: pass**

when i hit enter it gives me error, what am i doing wrong? please help

Is your wallet encrypted?

If so, you will need to unlock it to mine:

./ppcoind walletpassphrase <passphrase> <timeout> [mintonly]

[Schleicher]

what am i doing wrong? please help

Is it actually running?
Did you change the conf while it is running?
Is it still downloading the block chain?

[Cablez]

I have noticed for the month of Feb. that I have several stake mint blocks that never got any confirmations. Would these be considered orphans? Is there a way to get the confirmations from the network or purge them altogether? Thanks.

[Sunny King]

These stake transactions are considered orphans just like orphaned coinbase (mined) transactions. They stay around in the wallet but the stake is released back to balance. So no need to worry about them. Currently I am not aware of a way to purge the orphaned coinbase/stake transactions from the wallet.

I have noticed for the month of Feb. that I have several stake mint blocks that never got any confirmations. Would these be considered orphans? Is there a way to get the confirmations from the network or purge them altogether? Thanks.

[Cablez]

These stake transactions are considered orphans just like orphaned coinbase (mined) transactions. They stay around in the wallet but the stake is released back to balance. So no need to worry about them. Currently I am not aware of a way to purge the orphaned coinbase/stake transactions from the wallet.

I have noticed for the month of Feb. that I have several stake mint blocks that never got any confirmations. Would these be considered orphans? Is there a way to get the confirmations from the network or purge them altogether? Thanks.

Ok Thanks Sunny.

[Praxis]

"Minting suspended due to locked wallet" while using the QT GUI wallet. Any way around that?