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

[Sentinelrv]

1st round voting has now been completed. The clear favorite among most people is the designer Lightning with #109, followed by lesdeane with #96 and Gamekyuubi...

1st Round Designer Votes:
15 - Lightning
9 - lesdeane
7 - Gamekyuubi
6 - maxwell
4 - PhatCowDesigns
4 - Akaki

1st Round Design Votes:
7 - #109
5 - #96
4 - #35
3 - #48

We have now entered the final round, which will last three days. The six selected designers can now submit new or updated designs. We need to help them make their revisions. After these three days are up though, there will be no more design time, so this is it. We need to use this time wisely. If you have suggestions, please post them now either on the main contest page or on the new feedback thread at ppcointalk...

http://www.ppcointalk.org/index.php?topic=315.0

[mhps]

Good news. Vircurex has reduced withdrawl fee of PPC (among others) to 0.01.
https://bitcointalk.org/index.php?topic=49383.msg2674470#msg2674470

[octal42]

So I have about 35 coins which are now about 32 days old.  I have a few questions about coinstake minting.

Do my coins have 35*32 coin days or do 35*2 coin days?  In other words, does coin age only start building up after the 30 day waiting period?

My wallet is not encrypted, when I run the client, do I get any indication that the client is minting?  I would at least expect to see some CPU activity for the process, which I don't.

Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?

[Luckybit]

No offense but how do you have so many coins and not understand one of the most special things about them  

I do not know all details of the banking system or my computer's OS either but I still use them regularly. I thought stake was not relevant for me since my wallet is encrypted.

Consider me rich when, not if, PPC reaches $1,000  

PPC will never reach $1000. It might reach $10-100.
Bitcoin might reach $1000-15,000 in the same time period.

[TheSeven]

So I have about 35 coins which are now about 32 days old.  I have a few questions about coinstake minting.

Do my coins have 35*32 coin days or do 35*2 coin days?  In other words, does coin age only start building up after the 30 day waiting period?

My wallet is not encrypted, when I run the client, do I get any indication that the client is minting?  I would at least expect to see some CPU activity for the process, which I don't.

Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?

You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small.

[octal42]

So I have about 35 coins which are now about 32 days old.  I have a few questions about coinstake minting.

Do my coins have 35*32 coin days or do 35*2 coin days?  In other words, does coin age only start building up after the 30 day waiting period?

My wallet is not encrypted, when I run the client, do I get any indication that the client is minting?  I would at least expect to see some CPU activity for the process, which I don't.

Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?

You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small.

This seems odd as it would encourage people to wait the maximal amount before trying to mine a stake block, since every time you do, you lose 30 days of interest.  So under ideal conditions, the interest is not 1%, it is about 0.75% interest, and only if you can reliably mine your stake near the end of the 90 day cap period.

Any idea why my client does not appear to be stake mining? (CPU usage is zero)

[TheSeven]

So I have about 35 coins which are now about 32 days old.  I have a few questions about coinstake minting.

Do my coins have 35*32 coin days or do 35*2 coin days?  In other words, does coin age only start building up after the 30 day waiting period?

My wallet is not encrypted, when I run the client, do I get any indication that the client is minting?  I would at least expect to see some CPU activity for the process, which I don't.

Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?

You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small.

This seems odd as it would encourage people to wait the maximal amount before trying to mine a stake block, since every time you do, you lose 30 days of interest.  So under ideal conditions, the interest is not 1%, it is about 0.75% interest, and only if you can reliably mine your stake near the end of the 90 day cap period.

Any idea why my client does not appear to be stake mining? (CPU usage is zero)

Wait, there's a misconception here. It's 35*2 coin days for the purpose of difficulty, but 35*32 for the amount of interest calculation.

If you don't have many unspent txouts older than 30 days, the CPU usage will be fairly low. The whole point of proof of stake is that it reduces energy consumption by not being processing power bound, but rather time and money bound.

[octal42]

So I have about 35 coins which are now about 32 days old.  I have a few questions about coinstake minting.

Do my coins have 35*32 coin days or do 35*2 coin days?  In other words, does coin age only start building up after the 30 day waiting period?

My wallet is not encrypted, when I run the client, do I get any indication that the client is minting?  I would at least expect to see some CPU activity for the process, which I don't.

Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?

You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small.

This seems odd as it would encourage people to wait the maximal amount before trying to mine a stake block, since every time you do, you lose 30 days of interest.  So under ideal conditions, the interest is not 1%, it is about 0.75% interest, and only if you can reliably mine your stake near the end of the 90 day cap period.

Any idea why my client does not appear to be stake mining? (CPU usage is zero)

Wait, there's a misconception here. It's 35*2 coin days for the purpose of difficulty, but 35*32 for the amount of interest calculation.

If you don't have many unspent txouts older than 30 days, the CPU usage will be fairly low. The whole point of proof of stake is that it reduces energy consumption by not being processing power bound, but rather time and money bound.

Ah, thank you, that makes more sense.  Does that mean that the client intentionally throttles the stake mining thread?  Otherwise I would expect to see at least one thread at 100% if you have any coins that are 30 days or older that haven't been staked yet.

Is there a command in ppcoind that can give me confirmation that it is trying to stake mine?

[Sunny King]

Ah, thank you, that makes more sense.  Does that mean that the client intentionally throttles the stake mining thread?  Otherwise I would expect to see at least one thread at 100% if you have any coins that are 30 days or older that haven't been staked yet.

Is there a command in ppcoind that can give me confirmation that it is trying to stake mine?

The stake minter thread is automatically running as long as the client wallet is running. If it couldn't run (e.g. locked wallet) it would give a message.

Normally it shouldn't consume much cpu when it is minting.

[Sentinelrv]

The final round of voting has begun for the Peercoin logo design contest. Please place your final vote at the link below...

https://bitcointalk.org/index.php?topic=254091.0

[flound1129]

Hello all, I am in need of some testnet addnodes.  Is anyone running it?

The daemon can't connect to the only node it has, 178.33.22.20:9903

Thanks.

[Sentinelrv]

Voting is over. #199 wins the contest. Say hello to ppc's new logo! Now on to rebuilding the website!

[ninjaboon]

Voting is over. #199 wins the contest. Say hello to ppc's new logo! Now on to rebuilding the website!

I like it, green + gold is my fav combination.

[TheSeven]

Voting is over. #199 wins the contest. Say hello to ppc's new logo! Now on to rebuilding the website!

Is that available in a vector graphic format?
This particular image looks like it was scaled down by just removing lines, really crappy.
Can you make a PNG image with alpha channel and without the background available in the highest possible resolution?

[rbdrbd]

Voting is over. #199 wins the contest. Say hello to ppc's new logo! Now on to rebuilding the website!

I like it, green + gold is my fav combination.

Gentlemen (and ladies), I have for your the PPCoin mascot:



"Green is for the money, gold is for the honeys"

[Sentinelrv]

Is that available in a vector graphic format?
This particular image looks like it was scaled down by just removing lines, really crappy.
Can you make a PNG image with alpha channel and without the background available in the highest possible resolution?

Yeah, he's just awaiting the master files from the designer. I'm pretty sure Sentinelrv just threw this up for us to see.

If anyone can send him a tip, please do so. Sentinelrv put a lot of time and money into getting us this great logo. He did a great job.

Correct, this is just something I threw up to show off the winning logo. Whenever the designer uploads everything, I'll post about it on ppcointalk.org.

[Sentinelrv]

Here is the link to the files for #199...

http://www.mediafire.com/download/6s5pj7lk1ylra78/Peercoin_Logo_Files-199.zip

[Remember remember the 5th of November]

Yeah, so my last TX was 1bfcb2966c0c5095ca8c82c9a41c279eb72eaa63791be7e6898c53637f4f3a54 made in 1365213042 which is Sat, 06 Apr 2013 01:50:42 GMT, so it's been a few months, and still no PoS block...
When should I expect one?

[DarkHyudrA]

Yeah, so my last TX was 1bfcb2966c0c5095ca8c82c9a41c279eb72eaa63791be7e6898c53637f4f3a54 made in 1365213042 which is Sat, 06 Apr 2013 01:50:42 GMT, so it's been a few months, and still no PoS block...
When should I expect one?

Not everyone that gets a PoS block, there are no guarantees of minting one.

[KrLos]

Any updates of the client?