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

[Sentinelrv]

Is there anyone here that posts on the ppcoin subreddit that can post a link to the fundraising thread? Here is the link...

http://www.ppcointalk.org/index.php?topic=241.0

I just need help getting it on there. Can anyone help me with this?

[Charles999]

why the recent drop in prices??

[Luckybit]

why the recent drop in prices??

Ask yourself what you can buy with PPcoins that you can't buy with USD or Bitcoins and that should answer it.

[Sentinelrv]

Regardless, it's a fantastic buying opportunity in my opinion if you are long term with ppc (5-10 years).

I'm trying to get as much ppc as I can. The only problem is that I'm just not making money fast enough to buy it at these low prices.  

[calian]

Ppcointalk.org is down. Any updates? http://www.downforeveryoneorjustme.com/ppcointalk.org

[d5000]

Up again.

[Sentinelrv]

The donation meter is full. Please help us in the logo design contest planning thread...

http://www.ppcointalk.org/index.php?topic=271.0

[Sunny King]

FYI, Daniel of The Mises Circle published a good technical article:

http://themisescircle.org/blog/2013/06/24/the-proof-of-work-concept/

[John Eden]

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.

Very cool

[canoe]

FYI, I just made an improvement to my charts website for proof-of-stake currencies.  You can now see how many stake blocks are generated over time, the separate work and stake difficulties, and how much currency was minted due to each.

http://cryptometer.org/ppcoin_104_week_charts.html
http://cryptometer.org/ppcoin_90_day_charts.html
http://cryptometer.org/ppcoin_96_hour_charts.html

About 460,000 PPC has been minted in proof-of-stake blocks.  That's about 2.3% of the total supply. (There was a bug in my code.)
About 58,000 PPC has been minted in proof-of-stake blocks.  That's about 0.3% of the total supply.

[irritant]

FYI, I just made an improvement to my charts website for proof-of-stake currencies.  You can now see how many stake blocks are generated over time, the separate work and stake difficulties, and how much currency was minted due to each.

http://cryptometer.org/ppcoin_104_week_charts.html
http://cryptometer.org/ppcoin_90_day_charts.html
http://cryptometer.org/ppcoin_96_hour_charts.html

About 460,000 PPC has been minted in proof-of-stake blocks.  That's about 2.3% of the total supply. (There was a bug in my code.)
About 58,000 PPC has been minted in proof-of-stake blocks.  That's about 0.3% of the total supply.

nice charts
does anyone know what happened to proofofstake.com ?  
I liked those charts, until they stopped updating..

[Sunny King]

460K feels a bit off, there should be less than 100K minted from proof-of-stake I think.

I think Andy hasn't been maintaining the proof-of-stake.com site since March. But Andy is around, he just recently volunteered to represent PPC in September's EU bitcoin conference.

[canoe]

460K feels a bit off, there should be less than 100K minted from proof-of-stake I think.

I think Andy hasn't been maintaining the proof-of-stake.com site since March. But Andy is around, he just recently volunteered to represent PPC in September's EU bitcoin conference.

Ok, I'll check over my code to see if I can figure out the reason for the discrepancy.

What was in the proof-of-stake.com charts?  Maybe I can provide that info.  My charts don't auto-update yet.  If they get out of date, you can message me and I'll update them.

[canoe]

460K feels a bit off, there should be less than 100K minted from proof-of-stake I think.

I think Andy hasn't been maintaining the proof-of-stake.com site since March. But Andy is around, he just recently volunteered to represent PPC in September's EU bitcoin conference.

Ok, I'll check over my code to see if I can figure out the reason for the discrepancy.

What was in the proof-of-stake.com charts?  Maybe I can provide that info.  My charts don't auto-update yet.  If they get out of date, you can message me and I'll update them.

Thanks Sunny.  I was counting blocks that had the flag "stake-modifier" as stake blocks which was wrong.  Removing those gives us about 58,000 PPC from stake.  My original post is updated.  Now I've got to update all the other stake coins.   Aaaeeeiiii!

I'm curious: the stake-modifier has to do with the hashing of the stake blocks?  Anyone care to elaborate?

[canoe]

I'm curious: the stake-modifier has to do with the hashing of the stake blocks?  Anyone care to elaborate?

Nevermind, I answered my own question by finding this nice comment in kernel.cpp:

// Stake Modifier (hash modifier of proof-of-stake):
// The purpose of stake modifier is to prevent a txout (coin) owner from
// computing future proof-of-stake generated by this txout at the time
// of transaction confirmation. To meet kernel protocol, the txout
// must hash with a future stake modifier to generate the proof.
// Stake modifier consists of bits each of which is contributed from a
// selected block of a given block group in the past.
// The selection of a block is based on a hash of the block's proof-hash and
// the previous stake modifier.
// Stake modifier is recomputed at a fixed time interval instead of every
// block. This is to make it difficult for an attacker to gain control of
// additional bits in the stake modifier, even after generating a chain of
// blocks.

[cabin]

I'm curious: the stake-modifier has to do with the hashing of the stake blocks?  Anyone care to elaborate?

Nevermind, I answered my own question by finding this nice comment in kernel.cpp:

// Stake Modifier (hash modifier of proof-of-stake):
// The purpose of stake modifier is to prevent a txout (coin) owner from
// computing future proof-of-stake generated by this txout at the time
// of transaction confirmation. To meet kernel protocol, the txout
// must hash with a future stake modifier to generate the proof.
// Stake modifier consists of bits each of which is contributed from a
// selected block of a given block group in the past.
// The selection of a block is based on a hash of the block's proof-hash and
// the previous stake modifier.
// Stake modifier is recomputed at a fixed time interval instead of every
// block. This is to make it difficult for an attacker to gain control of
// additional bits in the stake modifier, even after generating a chain of
// blocks.

There might be a few more bugs in the stake counting code.. atleast for NVC. Some blocks are minting over 400 coins:

http://nvc.cryptocoinexplorer.com/block/d503d3050ecb0011250b6cad53c093b8efd2aeb32496912d2bee4114fc663469

But the chart shows only 131.2 for the entire week:

http://cryptometer.org/novacoin_104_week_charts.html

There might be a similar bug in PPC counting too but it is probably less severe.

[canoe]

I'm curious: the stake-modifier has to do with the hashing of the stake blocks?  Anyone care to elaborate?

Nevermind, I answered my own question by finding this nice comment in kernel.cpp:

// Stake Modifier (hash modifier of proof-of-stake):
// The purpose of stake modifier is to prevent a txout (coin) owner from
// computing future proof-of-stake generated by this txout at the time
// of transaction confirmation. To meet kernel protocol, the txout
// must hash with a future stake modifier to generate the proof.
// Stake modifier consists of bits each of which is contributed from a
// selected block of a given block group in the past.
// The selection of a block is based on a hash of the block's proof-hash and
// the previous stake modifier.
// Stake modifier is recomputed at a fixed time interval instead of every
// block. This is to make it difficult for an attacker to gain control of
// additional bits in the stake modifier, even after generating a chain of
// blocks.

There might be a few more bugs in the stake counting code.. atleast for NVC. Some blocks are minting over 400 coins:

http://nvc.cryptocoinexplorer.com/block/d503d3050ecb0011250b6cad53c093b8efd2aeb32496912d2bee4114fc663469

But the chart shows only 131.2 for the entire week:

http://cryptometer.org/novacoin_104_week_charts.html

There might be a similar bug in PPC counting too but it is probably less severe.

Yes, the bug applied to all stake coins.  I just finished updating all of them so please check again now.  That NVC chart now shows 6200 NVC from stake in the last week. Sound right?

[cabin]

There might be a few more bugs in the stake counting code.. atleast for NVC. Some blocks are minting over 400 coins:

http://nvc.cryptocoinexplorer.com/block/d503d3050ecb0011250b6cad53c093b8efd2aeb32496912d2bee4114fc663469

But the chart shows only 131.2 for the entire week:

http://cryptometer.org/novacoin_104_week_charts.html

There might be a similar bug in PPC counting too but it is probably less severe.

Yes, the bug applied to all stake coins.  I just finished updating all of them so please check again now.  That NVC chart now shows 6200 NVC from stake in the last week. Sound right?

That looks more realistic and a big jump was to be expected in NVC if that was a concern.

[Sentinelrv]

The logo design contest is now up at 99designs. I need everyone here to help give feedback to the designers on what you want to see. Feedback is very important in getting a great design. I've setup a thread over at ppcointalk.org where you can post your likes, dislikes and suggestions. I notified the designers to pay attention to this thread. Here is the link...

http://www.ppcointalk.org/index.php?board=3.0

[gabbynot]

I'd be great if we could move past the logo design debate sometime within the next year or two.