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

[romerun]

If 0.00000001 btc is one satoshi, 0.00000001 ppc is one sunny

[Sunny King]

Here is a banner

[bitpop]

What would a California roll be

[TheSeven]

If 0.00000001 btc is one satoshi, 0.00000001 ppc is one sunny

0.000001, to be exact

[Fifth_ID]

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

If you wish to keep the encrypted wallet locked while idling then it cannot mint block (neither proof-of-stake nor proof-of-work).

Otherwise you can run the qt in server mode (add 'server=1' to ppcoin.conf), and use command 'walletpassphrase' to unlock the wallet for minting. There is an extra option for mint-only unlock mode. In this mode one cannot directly send money from RPC so it's somewhat more secure than the general unlock mode.

ppcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true

In linux you should add an extra whitespace to the beginning of the command so that it doesn't log the passphrase into bash history.

Hi, I've encrypted the wallet and want to mint blocks.

After encrypting the wallet, in Windows 7 I've moved the PPCoin program folder to D:\Program Files\ and the data directory to D:\data\ppcoin

I've got a command file to start ppcoin with the words "ppcoin-qt.exe -datadir=D:\data\ppcoin"

I've created ppcoin.conf in D:\data\ppcoin and set server to 1 as well as setting a rpcuser and rpcpassword.

How do I use the command walletpassphrase while in PPCoin-QT?

How do I tell ppcoind (it's in D:\Program Files\PPCoin\daemon) that the ppcoin.conf is in D:\data\ppcoin and not in the roaming folder?

Using the command line and the words "ppcoind walletpassphrase "<passphrase>" <unlock_duration_in_seconds> true" while in  D:\Program Files\PPCoin\daemon I get an error saying it is looking for ppcoin.conf in the Windows 7 roaming folder on drive C. Using "ppcoind walletpassphrase "<passphrase>" <unlock_duration_in_seconds> true -datadir=D:\data\ppcoin" didn't work.

I kept the data folder on drive D because I didn't want to use up space in the smaller drive C partition.

[xk5]

I wrote a nice little guide for "Proof of Stake" mining that might help some of the questions here!

PPCoin Proof of Stake Minting Setup Guide

[TheSeven]

Just thought I'd announce it here as well:

I've opened an experimental Stratum PPC pool, based on a completely new pool server software written by me.
I'd appreciate any amount of testing that people can give it.
See this post for details: http://new.ppcointalk.org/index.php?topic=41.0

To the poclbm user who'se ppcoin address ends with "fdWY": You've been (unsuccessfully) sending HTTP Getwork requests to my pool server for days now. This is a stratum pool. Please use a stratum-capable mining client, or set up a stratum proxy.

[robotrebellion]

Does anyone know if there is some way that I can calculate the current block reward amount?

Or is there an API that I can use to fetch the last block reward amount?

[dreamwatcher]

Does anyone know if there is some way that I can calculate the current block reward amount?

Or is there an API that I can use to fetch the last block reward amount?

POW coinbase formula : mint = 9999 / (difficulty ** 0.25)

[FreeBit]

Does anyone know if there is some way that I can calculate the current block reward amount?

Or is there an API that I can use to fetch the last block reward amount?

POW coinbase formula : mint = 9999 / (difficulty ** 0.25)

In this formula I miss the relevant: probability of a quantified output dependent on CoinAge input in a specific time intervall.

Edit, one day later: OK, this is for POW. I am still looking for the formula of POS - without looking in the code.

[kneim]

PPC stand for power-protection-coin.

Good choice.

[romerun]

ppcoin is the future currency of ppisland (http://en.wikipedia.org/wiki/Phi_Phi_Islands) 

[punin]

Here is a banner

You mentioned something about a bounty project to promote PPCoin to retailers in your weekly update. Can I read about this somewhere? I'm willing to take this task.

[drawingthesun]

I have a question regarding investing into PPC.

Because the supply of PPC is growing faster than Bitcoin and the supply can always inflate a little, will this mean PPC will go down in value against BTC over a long period of time?

If you think so, or don't think this is the case, could you give your reasons.

Many Thanks

[markm]

Define long as in a long period of time. Since even a week or month is long compared to volatility / price-changes, I expect bitcoin to go up "long term" versus pretty much anything/everything, which is why it is so hard to find anything worth investing in using bitcoins other than just holding the bitcoins.

So to me its not so much a matter of anything else going down, its just that bitcoin is likely to go up real fast compared to pretty much anything for quite some time to come.

-MarkM-

[punin]

I have a question regarding investing into PPC.

Because the supply of PPC is growing faster than Bitcoin and the supply can always inflate a little, will this mean PPC will go down in value against BTC over a long period of time?

If you think so, or don't think this is the case, could you give your reasons.

Many Thanks

That's like asking whether you should invest into euro or dollar. PPCoin is a crypto-currency and thus a tool for transfer of value, not a investment per se. What you're talking about is speculation.

The way PPC is designed, the rate of inflation will drop once the hash-speed of the network will reach a certain level. After that inflation will converge to ~1% per year as proof of stake and work mining will find equilibrium with the PPC that gets destroyed as fees.

IMHO in the long run, we need something like PPCoin more than Bitcoin, because PPC is very energy efficient and (in theory) better protected from malicious (massive ASIC) attacks than BTC.

[markm]

Except there isn't actually any theory, is there? It is more like "in unsubstantiated marketing/PR claim" than "in theory".

The theoretical underpiinnings whitepaper / research / whatever doesn't yet exist. does it?

A cynic could say it is as if SolidCoin had split into two, one making PPCoin with the ultracool central control node aspect and the other making Freicoin with the ultracool centrally controlled vast majority of the wealth aspect...

-MarkM-

[punin]

Except there isn't actually any theory, is there? It is more like "in unsubstantiated marketing/PR claim" than "in theory".

The theoretical underpiinnings whitepaper / research / whatever doesn't yet exist. does it?

A cynic could say it is as if SolidCoin had split into two, one making PPCoin with the ultracool central control node aspect and the other making Freicoin with the ultracool centrally controlled vast majority of the wealth aspect...

-MarkM-

I was referring to the ratio of PoS blocks to PoW blocks. All one needs to take down bitcoin is to produce massive run of ASIC and deploy it. Relatively trivial for any large enough player, who's not happy about bitcoin's existence.

[JessicaMILFson]

You probably have heard it a thousand times already, but i would also like the name to be changed.

PPC has by far the most interesting design out here, but i just can't take the name seriously. It's something small, but as long as people feel weird about the name, they will really hold back on embracing it.
Rebranding (if at all possible, i don't know the details of how that would work) would probably improve the popularity a lot.
Make sure you do this right though, don't just change the name without anouncement, make sure to inform people on beforehand so they don't go like "hu where did PPC go? :p"

Kind regards

I strongly agree that a name change should be done to increase the popularity and usage of peer coin. Marketing is extremely important to generating public awareness and adaptability. I really love PPC coin and the innovation that it provides, and props to you Sunny. But the name's gotta change. Seriously.

PPC is already a hugely popular acronym in the Internet Marketing world, as it stands for Pay per click advertising. It would take a lot of resources to educate people on the distinction. The majority of the search results on Google will show listings for Pay-per click advertising. So if people here the word PPC coin and they Google this, they won't find out what they are looking for and therefore we limit the word by word marketing. Furthermore, PPCoin looks terrible and it's not as catchy as bitcoin, litecoin or feather coin. Why if paypal announces their own coin in the future? It will likely be called PPC. PayPal Coin. Because of their huge user base, our coin will go into obscurity.

I don't mind the name Peer, but the website should have been PeerCoin instead and abbreviated PRC.

Alternative would be P2P Coin; also known as Peer to Peer Coin. Or even EcoCoin. EcoCoin will draw huge amount of press!

Just looking at the rapid growth of FeatherCoin and how well it has been marketed...we can really learn some lessons from them.

Please hear us out, Sunny!

Relying on a superior technology alone does mean that it will succeed. We need more people to adapt this coin and begin accepting it as payment. I believe a marketing play is needed here. Having a name that's easy to relate to and pronounce can increase the amount of buzz generated. Furthermore, breaking down the concepts used in this coin to layman terms is key to translating the superiority of this over Bitcoin and Litecoin.

For those that say the name doesn't matter. Branding is very important. Why else would companies spend so much money on marketing and conduct all these market survey research?

Innovations in technology have not succeeded based only on the merits of their utility. Rather, it is often the ability of this new technology to relate to society that drives such successes.

What I'm afraid of happening is that someone in the future will come up with a better brandable name and rip off the same code and achieve more success.

[irishmick]

You probably have heard it a thousand times already, but i would also like the name to be changed.

PPC has by far the most interesting design out here, but i just can't take the name seriously. It's something small, but as long as people feel weird about the name, they will really hold back on embracing it.
Rebranding (if at all possible, i don't know the details of how that would work) would probably improve the popularity a lot.
Make sure you do this right though, don't just change the name without anouncement, make sure to inform people on beforehand so they don't go like "hu where did PPC go? :p"

Kind regards

I strongly agree that a name change should be done to increase the popularity and usage of peer coin. Marketing is extremely important to generating public awareness and adaptability. I really love PPC coin and the innovation that it provides, and props to you Sunny. But the name's gotta change. Seriously.

PPC is already a hugely popular acronym in the Internet Marketing world, as it stands for Pay per click advertising. It would take a lot of resources to educate people on the distinction. The majority of the search results on Google will show listings for Pay-per click advertising. So if people here the word PPC coin and they Google this, they won't find out what they are looking for and therefore we limit the word by word marketing. Furthermore, PPCoin looks terrible and it's not as catchy as bitcoin, litecoin or feather coin. Why if paypal announces their own coin in the future? It will likely be called PPC. PayPal Coin. Because of their huge user base, our coin will go into obscurity.

I don't mind the name Peer, but the website should have been PeerCoin instead and abbreviated PRC.

Alternative would be P2P Coin; also known as Peer to Peer Coin

Just looking at the rapid growth of FeatherCoin and how well it has been marketed...we can really learn some lessons from them.

Please hear us out, Sunny!

Relying on a superior technology alone does mean that it will succeed. We need more people to adapt this coin and begin accepting it as payment. I believe a marketing play is needed here. Having a name that's easy to relate to and pronounce can increase the amount of buzz generated. Furthermore, breaking down the concepts used in this coin to layman terms is key to translating the superiority of this over Bitcoin and Litecoin.

For those that say the name doesn't matter. Branding is very important. Why else would companies spend so much money on marketing and conduct all these market survey research?

Innovations in technology have not succeeded based only on the merits of their utility. Rather, it is often the ability of this new technology to relate to society that drives such successes.

What I'm afraid of happening is that someone in the future will come up with a better brandable name and rip off the same code and achieve more success.

Your alternative suggestion is a great idea. Unfortunately it is already used ;o)

PPCoin also known as Peer to Peer coin, Peercoin, PPC and P2PCoin is the first known crypto-currency based on an implementation of a combined Proof of Stake
https://en.wikipedia.org/wiki/PPCoin

The name does and doesn't matter. Take for example Kum -n- Go gas stations. Soccer moms still use them despite the name lol.

I do agree that ppcoin.org and its branding could use a revamp. I mean what's up with that plate with maple, oak, and horse chestnut leaves on it.

I'm not really sure what that signifies?