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

[mhps]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

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[Luckybit]

The fact that it trades as low as it does relative to all other alt-coins that offer nothing new to the cryptosphere tells me PPC is seriously lacking advertising, marketing and appeal to new-comers.

PPC is being forked by other new coins, and PPC is the first one on the scene in their genre sort of thing, if I understand what I read about PPC anyways. PPC has Sunny King who is regularly and diligently involved with PPC, which is much better than many of the other coins. PPC also has a track record, whereas the brand new coins coming out do not. Yes, I think PPC needs to mount an advertising campaign to let people know about PPC strong points, perhaps by hiring 10 people to work full time on advertising all over the net.

PPC has room to improve its image? The recent drop in price of PPC at btc-e.com may only be temporary. Now might be a good time to load up on PPC, and get a quick gain as other coin investors realize that PPC is undervalued and come rushing in en masse, driving PPC to the moon.


PPC is number 3.

1- Bitcoin
2- Litecoin
3- PPcoin

PPC needs to actually get a web/android wallet. It also needs a tipbot. It needs a jobs site so people can get paid in PPC for working. I think PPC can make itself different from BTC if the focus is on allowing people to work for it online.

The other thing is, if you're gonna use a bounty then the first thing you should focus on after marketing is infrastructure. PPC needs a job site, it needs chat/cam sites, etc. The first way would be to go to the people who are running these sites and offer them 300 PPC to integrate it into their site. Offer bounties for a PPC tipbot. 1000PPC to anyone who builds a tipbot functionality which works across the web. Focus on getting people to use it even if in trivial ways, and highligh the fact that it's cheaper than Litecoins.

[Luckybit]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

Where can you spend PPC? That is the problem. Where can you earn PPC? That is the problem.

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

PPcoin should take it's weakness and make it into it's strength. It's already perceived as the sort of porn coin so why not just take that entire market and monopolize that in the same way BTC and LTC took over the illegal drug market?

If each image and each movie on the porn site costs PPcoins suddenly people will be trying to buy PPCoins and if the site offers a way for people to buy these coins direct from the site then it will work.

[irritant]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

Where can you spend PPC? That is the problem. Where can you earn PPC? That is the problem.

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

PPcoin should take it's weakness and make it into it's strength. It's already perceived as the sort of porn coin so why not just take that entire market and monopolize that in the same way BTC and LTC took over the illegal drug market?

If each image and each movie on the porn site costs PPcoins suddenly people will be trying to buy PPCoins and if the site offers a way for people to buy these coins direct from the site then it will work.

hmm , if that would work would be positive, however I don't think a currency should be tied to one type of product/service

[Luckybit]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

Where can you spend PPC? That is the problem. Where can you earn PPC? That is the problem.

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

PPcoin should take it's weakness and make it into it's strength. It's already perceived as the sort of porn coin so why not just take that entire market and monopolize that in the same way BTC and LTC took over the illegal drug market?

If each image and each movie on the porn site costs PPcoins suddenly people will be trying to buy PPCoins and if the site offers a way for people to buy these coins direct from the site then it will work.

hmm , if that would work would be positive, however I don't think a currency should be tied to one type of product/service

You have to start somewhere. How did BTC and LTC start? You have to find a niche for PPC or there is no reason for people to buy it. Porn is a good niche to start with.  Besides people already think of porn when they think of PPC so it markets itself.

[irritant]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

Where can you spend PPC? That is the problem. Where can you earn PPC? That is the problem.

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

PPcoin should take it's weakness and make it into it's strength. It's already perceived as the sort of porn coin so why not just take that entire market and monopolize that in the same way BTC and LTC took over the illegal drug market?

If each image and each movie on the porn site costs PPcoins suddenly people will be trying to buy PPCoins and if the site offers a way for people to buy these coins direct from the site then it will work.

hmm , if that would work would be positive, however I don't think a currency should be tied to one type of product/service

You have to start somewhere. How did BTC and LTC start? You have to find a niche for PPC or there is no reason for people to buy it. Porn is a good niche to start with.  Besides people already think of porn when they think of PPC so it markets itself.

it also comes with the risk that it could drive some interested people away (those who are interested in it because of the green/low electricity cost, they like it for the "clean" image, and suddenly now it is a dirty porn coin..)

[Luckybit]

same as getting interest in bank, if we don't have to eat, we better leave everything in bank, but bank interest is so low that we might just want to take the saving out and flip it on some businesses, contributing to the economic growth as a whole.

I think you are talking about a fiat currency. People have to spend it to live.  There are ~20 cryptocoins out there and counting. People don't have to spend PPC to live. Most of the incentive for people to have PPC is in having it sleeping in the wallet. No?

Where can you spend PPC? That is the problem. Where can you earn PPC? That is the problem.

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

PPcoin should take it's weakness and make it into it's strength. It's already perceived as the sort of porn coin so why not just take that entire market and monopolize that in the same way BTC and LTC took over the illegal drug market?

If each image and each movie on the porn site costs PPcoins suddenly people will be trying to buy PPCoins and if the site offers a way for people to buy these coins direct from the site then it will work.

hmm , if that would work would be positive, however I don't think a currency should be tied to one type of product/service

You have to start somewhere. How did BTC and LTC start? You have to find a niche for PPC or there is no reason for people to buy it. Porn is a good niche to start with.  Besides people already think of porn when they think of PPC so it markets itself.

it also comes with the risk that it could drive some interested people away (those who are interested in it because of the green/low electricity cost, they like it for the "clean" image, and suddenly now it is a dirty porn coin..)

That assumption is assuming they aren't the same people. You don't porn stars and porn watchers don't want cheaper electricity and clean air and water?

[kalon]

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

I'll set up a site, titled and devoted to Golden Showers! The best part is that people can pay with their PPcoins 

In actuality I agree with the detractors. Nothing is stopping someone from setting up a porn site but I don't see any reason to encourage it for the purpose of promoting Peercoin.

[Sunny King]

I noticed several new altcoin oriented exchanges do not carry ppcoin. I don't know why but it's important that ppcoin gets carried by more exchanges.

send your request for ppcoin support to:
cryptsy (support@cryptsy.com)
mcxNow (mcxnow.exchange@gmail.com)
and any other that I have missed.

[Luckybit]

So lets give people places to earn and spend PPC and you solve the problem. My suggestion is PPC should become the standard coin of pornography. People might not spend money on many things but porn is something people will always stock up on and never get enough of. Unlike the drug scene, porn is actually legal so why not set up bounties for people who start porn sites which exclusively run on PPC?

I'll set up a site, titled and devoted to Golden Showers! The best part is that people can pay with their PPcoins  

In actuality I agree with the detractors. Nothing is stopping someone from setting up a porn site but I don't see any reason to encourage it for the purpose of promoting Peercoin.

Money isn't marketed by morals. Money is marketed by getting people to use it. I see enough sites and people using PPcoin and now I want to try it, even if the only people I see using it at first are porn stars and gambling  sites.

Immoral people are more attracted to PPcoin than moral people because immoral people are more attracted to cryptocurrencies generally. Conservative church going folk aren't going to be the early adopters in Bitcoin, Litecoin or PPcoin. So if it's about marketing then you gotta get whomever you can to use the coin however you can just so long as it's legal.

My suggestion is make a list like Devcoin has for all sorts of sites which need to be made based not on morals but based entirely on the amount of people that kind of site can attract to PPcoin. Porn sites attract people like flies attracted to shit.

[cadmium]

The fact that it trades as low as it does relative to all other alt-coins that offer nothing new to the cryptosphere tells me PPC is seriously lacking advertising, marketing and appeal to new-comers.

PPC is being forked by other new coins, and PPC is the first one on the scene in their genre sort of thing, if I understand what I read about PPC anyways. PPC has Sunny King who is regularly and diligently involved with PPC, which is much better than many of the other coins. PPC also has a track record, whereas the brand new coins coming out do not. Yes, I think PPC needs to mount an advertising campaign to let people know about PPC strong points, perhaps by hiring 10 people to work full time on advertising all over the net.

PPC has room to improve its image? The recent drop in price of PPC at btc-e.com may only be temporary. Now might be a good time to load up on PPC, and get a quick gain as other coin investors realize that PPC is undervalued and come rushing in en masse, driving PPC to the moon.


PPC is number 3.

1- Bitcoin
2- Litecoin
3- PPcoin

PPC needs to actually get a web/android wallet. It also needs a tipbot. It needs a jobs site so people can get paid in PPC for working. I think PPC can make itself different from BTC if the focus is on allowing people to work for it online.

The other thing is, if you're gonna use a bounty then the first thing you should focus on after marketing is infrastructure. PPC needs a job site, it needs chat/cam sites, etc. The first way would be to go to the people who are running these sites and offer them 300 PPC to integrate it into their site. Offer bounties for a PPC tipbot. 1000PPC to anyone who builds a tipbot functionality which works across the web. Focus on getting people to use it even if in trivial ways, and highligh the fact that it's cheaper than Litecoins.

+cointip Luckybit 1uPPC

here you go

[Luckybit]

The fact that it trades as low as it does relative to all other alt-coins that offer nothing new to the cryptosphere tells me PPC is seriously lacking advertising, marketing and appeal to new-comers.

PPC is being forked by other new coins, and PPC is the first one on the scene in their genre sort of thing, if I understand what I read about PPC anyways. PPC has Sunny King who is regularly and diligently involved with PPC, which is much better than many of the other coins. PPC also has a track record, whereas the brand new coins coming out do not. Yes, I think PPC needs to mount an advertising campaign to let people know about PPC strong points, perhaps by hiring 10 people to work full time on advertising all over the net.

PPC has room to improve its image? The recent drop in price of PPC at btc-e.com may only be temporary. Now might be a good time to load up on PPC, and get a quick gain as other coin investors realize that PPC is undervalued and come rushing in en masse, driving PPC to the moon.


PPC is number 3.

1- Bitcoin
2- Litecoin
3- PPcoin

PPC needs to actually get a web/android wallet. It also needs a tipbot. It needs a jobs site so people can get paid in PPC for working. I think PPC can make itself different from BTC if the focus is on allowing people to work for it online.

The other thing is, if you're gonna use a bounty then the first thing you should focus on after marketing is infrastructure. PPC needs a job site, it needs chat/cam sites, etc. The first way would be to go to the people who are running these sites and offer them 300 PPC to integrate it into their site. Offer bounties for a PPC tipbot. 1000PPC to anyone who builds a tipbot functionality which works across the web. Focus on getting people to use it even if in trivial ways, and highligh the fact that it's cheaper than Litecoins.

+cointip Luckybit 1uPPC

here you go

Wow I didn't even know this was possible. Did you just code that up?

But yeah, the tipbots are very important because I think the best way to introduce people to a new coin is to give them some. When people have coins they'll then want to know how to spend it but the best way to learn about this kind of money is to use it.

[vindimy]

You can now tip PPCoins (and other ALTcoins) on Reddit.

Announcement thread: [ANN][LTC][PPC][NMC][NVC][TRC][DVC] You can now tip ALTcoins on Reddit!.

[zoro]

Sunny, when a new client update will be available?
i see that the debug window is missing from client, it is very useful indeed

[calian]

Sunny didn't make the qt version, just the daemon. I don't know if he intends to maintain the GUI himself. Somebody should modify and port this to PPC though: https://bitcointalk.org/index.php?topic=144331.0

It would be really handy to see the priority of your coins for generating stake and be able to spend those least likely in the near future.

[kalon]

Looks like interest has died down on the design front. Is that because consensus was not met or there was little interest from the only one that matters (Sunny)?

I'm noticing that ppc is having some trouble on the charts. Perhaps the goals are a bit longer term than just the latest swings, hope so since long term ecological viability is one of the main points to ppc. Still, I wonder if there are others  like myself who are coming with high hopes and yet are dashed by stagnation on the easy to solve image problem.

It'd be nice to see the issue closed by either a democratic vote at some point (preferably sooner rather than later) or a unilateral decision by Sunny on one of the designs or some version there of.

I'd just hate to see people loose interest because there is seemingly little forward motion. Personally, I've been convinced of the technical merits. I just hope that we've got something solid which can be rallied around.

[detail3]

We do, its just a matter of getting the community involved, and as with the designs you can see how the forward momentum of a few people will carry on to several.

I've lost touch temporarily (and perhaps worn out my welcome ) with the lady who was doing designs for me, so that's my problem.  I posted on bitcointalk trying to get people remotivated as I actually think the design is something that should be hammered out as its pretty important and I honestly think we have some good ideas going.  Its just a matter of actually putting the finishing touches upon something that a majority of us can agree upon (all just will never happen with this many people).

[gabbynot]

I'm noticing that ppc is having some trouble on the charts....

It's because some people see the only activity in PPC the last few weeks is in the creation of a logo.

Maybe there's other developments, but those seem to be on the back burner.

[kong2029]

I want to put one new idea out for everyone to ponder. 

The path the crypto currency market will take in its development is hard if not impossible to predict in the very long term of 20 years or so.  However, when we shorten the time frames up and focus on steps in the development we may be able to make some predictions with greater accuracy.  Specifically, I look at the near term of the next two to five years and I see a few important trends.

1) Bitcoin is not going away in the next five years.  Maybe it won't always be the de facto standard in crypto but for now and in the near future it is the flag bearer.

2) There are too many alternate cryptos in the market now.  There is too much noise in the market with currencies that don't have and probably never will carry any real value.  This brings the value of all alternate cryptos down because it creates confusion and therefore risk in the market.

3) In the near term there will be no viable lending market in BTC or other cryptos.  Until someone buys enough of a BTC stockpile to begin a viable lending business AND they find an adequate way to secure their loans we will not see interest paid on crypto holdings or the ability to 'short sell' a crypto.  Lending crypto is very unlike traditional lending because of the anonymous nature of the holding or the ownership itself.  To secure a loan a lender would have to seek real world collateral or guarantees.  This is a structural problem in the market that I believe will eventually be resolved but the how is not immediately clear.  Certainly, if we were to see corporations begin widespread adoption of cryptos we could see a lending market quickly evolve but I don't see any way this would happen without a rapid attempt at regulation by both state and supernational organizations. 

4) The Cyprus Precedent.  There is a lot of nervous money all over the world that is vulnerable to increased and questionable government taxation.  There have always been owners of grey or shadow money that are always seeking a safer haven but for the first time there are depositors that include normal middle-class individuals that have played by the rules and are now vulnerable to having their savings seized.   

5) Global interest rates will stay low for the foreseeable future.  Every major central bank, with the exception of China's, is running a massively stimulative monetary policy.  This has two important effects.  First, without taking credit risk, it is impossible for a depositor to earn interest on a real basis for short-term deposits.  In fact, when inflation adjusted, real interest rates in many countries are negative.  Second, this kind of monetary policy increases the risk of runaway inflation. 

All of these trends lead me to the new idea that I would like everyone to consider.  I believe there is a big opportunity for PPCoin in highlighting the 1% POS minting yield and creating a unique value proposition by defining it as the 'Savers' crypto currency.  You hold your money in PPCoin and when you spend it you convert it into BTC.  I was further thinking that we might try to brand the 'big three' of BTC, LTC, and PPC along these lines:  Save in PPC, Spend in BTC, Carry LTC.  The idea of including LTC involves the digital wallet in your smartphone and the fast transfer speeds- digital pocket cash, if you will.  I don't really like the idea of advocating for LTC but it works for PPC as it provides a paradigm and context for how an individual user (especially a new user) can understand and use cryptos.  If this became the common mindset, it deals a blow to all the other alternate cryptos out there because what purpose can they serve that is not already served by the big three?  Without including LTC I don't know that we can make that argument. 

Now, getting back to the savings differentiation let's discuss the basic definition of a currency.  A currency is something that is 1) a store of value and 2) a means of exchange.  PPC is a superior store of value (assuming liquidity) to BTC and LTC because of better security against a 51% attack and the 1% POS mint yield.  As a means of exchange it is inferior at this time because BTC has greater liquidity against all other cryptos and real currencies and is accepted by a larger number of merchants.  It's inferior to LTC as a means of exchange today because of its slower transfer speeds.  I therefore believe that rather than trying to effectively compete with BTC or LTC by getting more merchants using PPC we should be focusing our efforts as a community to spreading the message of PPC as the Savers Crypto.  We focus on the key positive differentiator that PPC has over all others- 1% POS minting yield- and make this the selling point.  Of course, if merchants accept PPC that's a positive but I think the opportunity lies in evangelizing the relative advantage of PPC.

Imagine for a second what would happen if people placed even 10% of their BTC holdings in PPC.  This would be about $150 million USD of inflows into PPC.  The appreciation of the currency would be extreme, to say the least.  Now, if cryptos were to mirror the way people treat fiat currency, we would soon see much more money in savings than in liquid cash or checkable deposits.  In fiat terms M2 is multiples of M1.  The potential for PPC, if adopted as the 'savings crypto' is tremendous.  Consider also, that if people are saving even moderate proportions of their crypto holdings in PPC the need for BTC as an intermediate currency decreases.  That is, if everyone has it, merchant adoption will automatically increase because they need to save as well and neither they nor their customers want to have to pay an extra transaction cost of conversion to/from BTC.  The path to possibly eclipsing BTC starts with an adjacency that complements BTC.

One other point to make is about volatility.  When BTC trades in a range from 50 - 260 USD in just a few days, the 1% minting yield becomes irrelevant even though it beats fiat rates.  A liquid market is important but a stable market is equally important.  If you look at the lack of major volatility in BTC over the last week and in the longer periods prior to the last run-up and crash, this is the kind of market that would be ideal for PPC proliferation and adoption.  A slow increase in BTC combined with a growing belief in the superiority of PPCoin for savers would be ideal because holders would get the 1% yield and a steady capital appreciation.

The major problem with advocating PPC as I describe is that we need improvements to the wallet.  Presently, the wallet can only mint POS coins if it is unlocked.  I think Sunny is already working on this.  A further security improvement of 'cold-locked transactions' has already been proposed by Sunny though no development timetable has been released.  With these two security improvements in place we might expect faster traction of PPC adoption as a Savers Crypto.  I would put it to the community that right now getting a locked minting wallet in place is the highest priority for development of the currency.

Beyond the technology, there is everything else that can be done to promote this concept.  Building it into the presentation and messaging of the coin on the official site, into the new designs that people have been playing with, into the conversations that we all have about PPC and crypto in general...

Thanks for taking the time to read this.  I look forward to hearing your thoughts and discussing this with you all.  I will be posting this in ppcointalk.org as well.

[mhps]

I believe there is a big opportunity for PPCoin in highlighting the 1% POS minting yield and creating a unique value proposition by defining it as the 'Savers' crypto currency. 

If that works, what if someone comes up a copy of PPC and offer 2% "interest"? It will eat PPC's lunch. Actually why stop at 2% ? What about 10%? 50% ? You see my drift. In the real world you can't offer unlimitedly high interest rate because the interest rate is ultimately determined by how much return of investment you can get if you borrow someone's money to invest. If you offer an interest that is too high, you can't afford it.  Can someone tell me what prevents a crypto currency from offering a high interest rate? Is it the same factor that crippled PoW alt-coins that offer very short time between each new block (network latency)? If that is true, PPC is lighyears away from that limit. I see possibility of  a much higher interest rate.