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

[lazydna]

Might be OT so forgive if this is in the wrong place:

I recieved my first mined 'Mint by Stake' of 0.5 PPC on June 9, 2013.

Since then, my entire balance (320PPC) has been stuck? as a stake amount.  I am unable to spend any of my balance. PPCoin wallet says 'Amount exceeds your balance.' when I try.

So my balance says 0.00 PCC
Stake 320.349 PPC
Unconfirmed 0.00 PPC

It's been like that for the past 3 days. So weird.

Any one have any info to share on the situation?

There is 520-block maturity on stakes. Generally it takes about 3 days for stakes to return to balance.

Seriously? My entire PPC balance becomes unavailable for 3 days if I get "lucky" enough to mint a stake? You don't see this as a problem for any semblance of mass adoption?

Hypothetical situation: I do a deal to pay in PPC on Thurdsay.  My promise is to pay for goods delivered, on Saturday.  On Friday, I mint a stake.

Do you see where this going?

If you needed the balance, why would you mint with the balance you know you're going to withdraw? If you need the liquidity, you can stop minting by stake.

You would mint with it because you wouldn't know, like I didn't, that the minting process is going to tie up your funds for 3 days.  It's not like it's posted anywhere a person could reasonably expect to find it.

From what I can tell, the whole minting stake business is the concept that sets PPC apart from the rest of the cryptos.  Now you are saying, if you want to make use of this neat, novel, new feature, sorry, but you can't spend it.

If I wanted to spend it, I can't mint.  So what's the point of using PPC in the first place?

Perhaps there should be a FAQ on the stake minting. Minting is used to secure the network, you're rewarded stake by minting. Securing the network via stake reduces the use of electricity needed to secure the network. Minting is an investment, you give up some liquidity to earn stake and help secure the network. If you don't mint why use ppc? Because other people minting makes the ppc network more secure and less reliant on pow, thus saving electrical costs over time.

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[Sunny King]

Seriously? My entire PPC balance becomes unavailable for 3 days if I get "lucky" enough to mint a stake? You don't see this as a problem for any semblance of mass adoption?

Hypothetical situation: I do a deal to pay in PPC on Thurdsay.  My promise is to pay for goods delivered, on Saturday.  On Friday, I mint a stake.

Do you see where this going?

There is a 'reservebalance' parameter to help users in this situation. This is currently a commandline/config only parameter, in the future it would be added to qt settings so gui users can more easily set it.

If you run the client more often the stake would be split/combined into reasonable size coins so typically you wouldn't have all your balance tied in stake at the same time.

[vindimy]

Seriously? My entire PPC balance becomes unavailable for 3 days if I get "lucky" enough to mint a stake? You don't see this as a problem for any semblance of mass adoption?

Hypothetical situation: I do a deal to pay in PPC on Thurdsay.  My promise is to pay for goods delivered, on Saturday.  On Friday, I mint a stake.

Do you see where this going?

There is a 'reservebalance' parameter to help users in this situation. This is currently a commandline/config only parameter, in the future it would be added to qt settings so gui users can more easily set it.

If you run the client more often the stake would be split/combined into reasonable size coins so typically you wouldn't have all your balance tied in stake at the same time.

I hope Sunny has all these answers in a text file somewhere to copy-paste every time someone brings up an issue with POF..

[Yogafan00000]

Seriously? My entire PPC balance becomes unavailable for 3 days if I get "lucky" enough to mint a stake? You don't see this as a problem for any semblance of mass adoption?

Hypothetical situation: I do a deal to pay in PPC on Thurdsay.  My promise is to pay for goods delivered, on Saturday.  On Friday, I mint a stake.

Do you see where this going?

There is a 'reservebalance' parameter to help users in this situation. This is currently a commandline/config only parameter, in the future it would be added to qt settings so gui users can more easily set it.

If you run the client more often the stake would be split/combined into reasonable size coins so typically you wouldn't have all your balance tied in stake at the same time.

I hope Sunny has all these answers in a text file somewhere to copy-paste every time someone brings up an issue with POF..

Why not post this critical bit of info somewhere under a mystery meat icon on the ppcoin.org website in english that normal people can understand? (520 block maturity window is not something my brother would ever care to hear when I am explaining why he can't use his money for the next 2 days)

[TheSeven]

A situation like that can only turn up if you have only received a single transaction so far since you created the wallet (or spent all of your funds for the last time), and in some other rather unlikely cases. Otherwise, only part of your money would have been locked up, so this is not really a typical situation.

[Sentinelrv]

I can't believe how fast ppc is rising on MtGox. We have 32 votes now. Just yesterday I checked and it was 23. At this rate we should be passing Namecoin soon at 54 votes. Hopefully MtGox notices this. Please vote if you haven't already done so...

https://support.mtgox.com/entries/21676064-Please-Add-Peer-2-Peer-Coin-PPC-

[Sentinelrv]

A bunch of people conviced me that we're shooting for the wrong design package and after getting the ok from people here and ppcointalk.org, as well as some who have already donated, I officially changed the goal from $800 to $300. As for my reasoning behind this decision, this is my post from ppcointalk.org...

I think several people on BitcoinTalk may have convinced me that we're shooting for the wrong design package, so I need some opinions. First off, I originally chose the $800 package simply because it offered the best options and because I didn't think it would be a big deal to raise that much, but I guess I was wrong. Now that I'm rethinking it, the $299 bronze package seems better suited for what we're trying to accomplish here.

I mean, we pretty much have the logo nailed down already. Just look at the last couple designs displayed on the donation page. They're all pretty similar looking and look great. They just need to be finalized. Maybe $800 would make a little more sense if we were starting the logo from scratch, but we're not. I think all we really need are more and better quality variations of the current design for people to choose from, just to finish off what we started. That can probably be achieved for $299, plus it will be a lot easier to raise.

We're already almost halfway there! This should make it much easier.

[juggalodarkclow]

Is there somewhere that I can view the total hashrate of PPC?

[craslovell]

I can't believe how fast ppc is rising on MtGox. We have 32 votes now. Just yesterday I checked and it was 23. At this rate we should be passing Namecoin soon at 54 votes. Hopefully MtGox notices this. Please vote if you haven't already done so...

https://support.mtgox.com/entries/21676064-Please-Add-Peer-2-Peer-Coin-PPC-

Up to 42 now

[Sunny King]

FYI,

  Research and Markets published a research report on alternative currencies and listed ppcoin among top featured companies. I have no idea what it says about ppcoin though as they list the report for a cool US$2950.

http://www.researchandmarkets.com/research/s5f5c3/alternative

[TheSeven]

Is there somewhere that I can view the total hashrate of PPC?

http://theseven.bounceme.net/~theseven/pool/netstats

[juggalodarkclow]

Is there somewhere that I can view the total hashrate of PPC?

http://theseven.bounceme.net/~theseven/pool/netstats

Thanks!!

[craslovell]

FYI,

  Research and Markets published a research report on alternative currencies and listed ppcoin among top featured companies. I have no idea what it says about ppcoin though as they list the report for a cool US$2950.

http://www.researchandmarkets.com/research/s5f5c3/alternative

WOW, uhhh, that's not too expensive 

Maybe we can pay for the report in ppcoin 

[Sentinelrv]

Sunny, do you control the ppcoin Facebook page or is it somebody else?

https://www.facebook.com/PPcoin

[craslovell]

Sunny, do you control the ppcoin Facebook page or is it somebody else?

https://www.facebook.com/PPcoin

Looks like it could use a good makeover if you ask me.

[Philogus]

I wrote a paper titled "Raising the Visibility and Adoption of PPCoin". I have already sent a copy to Sunny and Scott. I also wanted to share it with the PPCoin community: https://www.dropbox.com/sh/cqaupq6sejv99wr/pr_8U-iBN1/RaisingTheVisibilityAndAdoptionOfPpcoin.pdf

Abstract
Peer-to-peer coin is a digital cryptocurrency based on Bitcoin that employs a proof-of-stake/proof-of-work system (King & Nadal, 2012).  Like Bitcoin, PPCoin utilizes a SHA-256 hashing scheme for proof-of-work, and for transactions handling. PPCoin was created by software developers Sunny King and Scott Nadal in 2012.

In this paper, I offer a proposal for how to raise the visibility and adoption of PPCoin. My idea would involve setting up a website that encourages people to use PPCoin to purchase high ticket items at a cost that is highly subsidized by advertising.  All transactions on the website would take place in PPCoin. This would encourage users to exchange other currencies for PPCoin, and it would encourage advertisers to obtain PPCoin to fund their ad campaigns. To take advantage of PPCoin's energy efficiency, the website would sell “green” high ticket items such as Chevy Volts, Toyota Priuses, Tesla Model S cars, and other symbols of green energy efficiency.

[super3]

The website really needs work... Is a new one underway? If not I can put something together if it will actually get used.

[kong2029]

I wrote a paper titled "Raising the Visibility and Adoption of PPCoin". I have already sent a copy to Sunny and Scott. I also wanted to share it with the PPCoin community: https://www.dropbox.com/sh/cqaupq6sejv99wr/pr_8U-iBN1/RaisingTheVisibilityAndAdoptionOfPpcoin.pdf

Abstract
Peer-to-peer coin is a digital cryptocurrency based on Bitcoin that employs a proof-of-stake/proof-of-work system (King & Nadal, 2012).  Like Bitcoin, PPCoin utilizes a SHA-256 hashing scheme for proof-of-work, and for transactions handling. PPCoin was created by software developers Sunny King and Scott Nadal in 2012.

In this paper, I offer a proposal for how to raise the visibility and adoption of PPCoin. My idea would involve setting up a website that encourages people to use PPCoin to purchase high ticket items at a cost that is highly subsidized by advertising.  All transactions on the website would take place in PPCoin. This would encourage users to exchange other currencies for PPCoin, and it would encourage advertisers to obtain PPCoin to fund their ad campaigns. To take advantage of PPCoin's energy efficiency, the website would sell “green” high ticket items such as Chevy Volts, Toyota Priuses, Tesla Model S cars, and other symbols of green energy efficiency.

Nice work.  Thanks for posting that.  Need some time to think on your idea.

[Philogus]

I wrote a paper titled "Raising the Visibility and Adoption of PPCoin". I have already sent a copy to Sunny and Scott. I also wanted to share it with the PPCoin community: https://www.dropbox.com/sh/cqaupq6sejv99wr/pr_8U-iBN1/RaisingTheVisibilityAndAdoptionOfPpcoin.pdf

Abstract
Peer-to-peer coin is a digital cryptocurrency based on Bitcoin that employs a proof-of-stake/proof-of-work system (King & Nadal, 2012).  Like Bitcoin, PPCoin utilizes a SHA-256 hashing scheme for proof-of-work, and for transactions handling. PPCoin was created by software developers Sunny King and Scott Nadal in 2012.

In this paper, I offer a proposal for how to raise the visibility and adoption of PPCoin. My idea would involve setting up a website that encourages people to use PPCoin to purchase high ticket items at a cost that is highly subsidized by advertising.  All transactions on the website would take place in PPCoin. This would encourage users to exchange other currencies for PPCoin, and it would encourage advertisers to obtain PPCoin to fund their ad campaigns. To take advantage of PPCoin's energy efficiency, the website would sell “green” high ticket items such as Chevy Volts, Toyota Priuses, Tesla Model S cars, and other symbols of green energy efficiency.

Nice work.  Thanks for posting that.  Need some time to think on your idea.

Thank you.

[Sentinelrv]

The website really needs work... Is a new one underway? If not I can put something together if it will actually get used.

We've been trying to raise $300 to finish off the logo with a design contest. Once that's done we can build a new website around the design of the logo, but it's been slow going in raising the money. We're currently at $95 and Reddit won't let me post about it to gain exposure. That's why I wanted to know if Sunny controlled that ppcoin Facebook page I posted above. That page could post about it to try and finish off the meter. If you or anyone else you know would like to donate to get this finished, here is the link...

http://www.gofundme.com/ppcoinlogodesignfund