Is PPcoin "Largely abandoned" ?

[ripper234]

http://thegenerallifeblog.blogspot.co.il/2013/02/past-and-present-alternatives-to-bitcoin.html

A largely abandoned project which was poorly done but a great idea.

Any idea what is his basis for writing PPCoin is largely abandoned?

[ripper234]

Heh, I now see another line he wrote:

Litecoin is a piece of junk and no one should ever use it.

While Litecoin is many things, it's not a piece of junk. I think it's an inferior investment to Bitcoin, but it's still the largest alt AFAIK market cap wise (Let's exclude Ripple for a sec, not sure how to count it / whether it's an alt).

I guess he was wrong/lying about PPCoin as well.

[GoldenWings91]

This blog is someones opinion. Sunny King, the developer for ppcoin, is active and still developing ppcoin.

[ripper234]

Yeah, thought as much.

/thread

[Vitalicus]

The article was writen when PPCoin activity was minimal. Before 0.3 update
PPcoin is long term project, and never was abandoned.

[SRoulette]

I think you found Real Solids blog

[Vitalicus]

Sunny King answer:

Thanks John for the compliments to ppcoin project. However I'd like to point out that ppcoin is neither 'largely abandoned' nor 'poorly done'.

Yes I said ripple could potentially accomplish the energy efficiency goal as well. However the tradeoff appears to be very different. We must keep in mind that ripple in the current state is still practically centralized, with only a few validation nodes all controlled by OpenCoin. For ppcoin even though the level of decentralization is lower than that of bitcoin, for the protection of initial bootstrapping of the network, the degree of decentralization is still a lot higher than ripple as of now. Ripple's design is still far from tested as to its robustness and ability to decentralize. There is operating concerns as well regarding how many such ripple validation nodes would eventually be maintained by public since there is no clear incentive for people to do so. Also unlike ripple, ppcoin was released without any centralized issurance (that's why ppcoin kept proof-of-work). The risk profiles of the two projects are very different, both technically and politically.

Having said that, I do appreciate the work of ripple team and it's ambitions in alternative credit system (basically a return to free banking on Internet). Clearly the team behind ripple is very resourceful and brave. I sincerely wish them good luck.

But people should not interpret it as if I have 'abandoned' ppcoin project. Having just released 0.3 protocol upgrade, my long term plan is to enable database use with ppcoin. If you'd like to hear my opinion, I think ppcoin project is well-alive and promising. I feel I have it in me to contribute a lot more to the world of cryptocurrency in the future.

Best Regards,

[mech]

PPCoin unfortunately looks like the "king without a retinue".
Have an idea, but there is no any infrastructure. One pool and the two exchanges. And in fact, one with terrible text interface. Why then their mine, if you can not spend except on the two exchanges? Therefore collapse - https://ppcexchange.bitparking.com/main you can withdraw only 12 BTC on the entire system.

[Jutarul]

ppcoin is still experimental. the fact that there is a solid exchange at all is astonishing.

Once it's network security model is thoroughly revised, merchants will start to trust the system. However, this will NOT happen before centralized checkpointing is removed, IMHO. And ppcoin is still far away from that move.

[Sunny King]

PPCoin unfortunately looks like the "king without a retinue".
Have an idea, but there is no any infrastructure. One pool and the two exchanges. And in fact, one with terrible text interface. Why then their mine, if you can not spend except on the two exchanges? Therefore collapse - https://ppcexchange.bitparking.com/main you can withdraw only 12 BTC on the entire system.

Yes recently the market depth has deteriorated quite a bit on bitparking. At one point it had 400 BTC buy order, but that's before the ramp up of BTC recently.

I think it's a natural cycle in the life of altcoins. Every altcoin faces this problem to some extents. Of course I do hope more of our users set out to help establishing a market for ppcoin. Sometimes I do feel that our user group is technical-inclined and intelligent, but not as loud as some supporters of other altcoins with no real stuff but a lot of noise

But in any case I will do my part to find the kingdom 

[Sunny King]

ppcoin is still experimental. the fact that there is a solid exchange at all is astonishing.

Once it's network security model is thoroughly revised, merchants will start to trust the system. However, this will NOT happen before centralized checkpointing is removed, IMHO. And ppcoin is still far away from that move.

Not necessarily true. NVC is pretty much running on the same system, with the same centralized checkpointing policy, and it is claimed that there is good interest of support from merchants. I don't know if it's true though, we'll see how it develops for NVC.

[Jutarul]

ppcoin is still experimental. the fact that there is a solid exchange at all is astonishing.

Once it's network security model is thoroughly revised, merchants will start to trust the system. However, this will NOT happen before centralized checkpointing is removed, IMHO. And ppcoin is still far away from that move.

Not necessarily true. NVC is pretty much running on the same system, with the same centralized checkpointing policy, and it is claimed that there is good interest of support from merchants. I don't know if it's true though, we'll see how it develops for NVC.

Looks like NVC merchants are on a suicide mission then...

What's the history behind NVC? Simple copycat?

[mech]

Not a hindrance. Would have been possible these coins even play in the casino, and the interest would be the currency is much higher.

Somebody bring me two pizzas for 10 000 PPC?

[Sunny King]

Looks like NVC merchants are on a suicide mission then...

What's the history behind NVC? Simple copycat?

Yes it is directly forked from PPC and switched block hash from sha256x2 to scrypt. Made two parameter changes (5% proof-of-stake mint rate and ^(1/6) proof-of-work mint rate reduction).

It probably has good support from Russian community, I don't know. The release was announced first in the russian subforum so they had a couple thousand blocks headstart on it while the difficulty is started extremely small (first block pays 100, now about 15). btc-e support is added almost on the launch day, with over 3000 BTC buy orders (now more than 4000 BTC buys). Btc-e then destroyed 110k coins that Bathazar deposited with it, after smoothie and others voiced strong objection to the premine nature of NVC and immediate support of btc-e. Then a DDoS attack was launched by some party against btc-e and coinotron (who first added NVC mining support and is apparently still under attack). I suspect that majority of coins are held in the russians' hands right now, both from the first day mining and the buying on btc-e (total volume so far is huge, probably more than the entire money supply since its launch).

It seems that NVC is beginning to pose some threat to LTC. Yes you can say NVC is copycat but if they are not a pump-and-dump and will do marketing better than PPC I have no problem with NVC challenging LTC first (NVC market cap about 4000 BTC right now, LTC 35000 BTC, PPC 1500 BTC, with NVC network hash rate probably around half of LTC right now)

[Vitalicus]

NVC is more ortodox coin than PPC.
It's just for russians

[AndyRossy]

not abandoned.  nope.

[Balthazar]

Yes it is directly forked from PPC and switched block hash from sha256x2 to scrypt. Made two parameter changes (5% proof-of-stake mint rate and ^(1/6) proof-of-work mint rate reduction).

Also there are a few incompatible changes in the protocol, BIP34 + modified block signing policy. Some other changes planned soon, but the main idea will be the same.

[Limie]

Heh, I now see another line he wrote:

I think it's an inferior investment to Bitcoin

whats the roi on average for litecoin? (not trolling, legit question)