PPCoin showing a lot of activity lately, under-priced?

[mr_random]

I've done some research on this and I am using this topic to collate what I have found so far.

1. The number of people searching google for the phrase 'ppcoin' has tripled in size in march compared to previous months:



Litecoin did a similar thing recently. Terracoin which is also growing in size is also showing a trend increase.

2. There is a LOT of trading activity spiking up in ppcoin lately

Volume chart from vircurex:



BTC price graph:



PPcoin is also being mentioned more on the forums in recent days.

3. Lead developer Sunny is still extremely active and passionate about his vision with 'ppcoins'. Sunny is continually improving the code and is very receptive to new ideas and if something goes wrong you can trust him to fix it. The development is still active unlike a lot of the other alt coins which are barren wastelands. This is not a coin that is just a cheap copy of bitcoin with some tweaks, this a very dinstinctive and innovative coinn. PPcoin stands out amongst the other coins for being, in my opinion, the most innovative with it's proof of stake and low energy consumption. Which leads me onto 3:

4. PPcoin will likely scale better than bitcoin. Bitcoin is already running into problems with the amount of transactions and this will only get exponentially worse.  PPcoin will present an alternative. And not only that it should be more of a 'hedge' against Bitcoin since if a flaw is found in Bitcoin it is less likely to be found in PPcoin than other alt currencies.

5. Mining profitability is 150% on dustcoin right now and seems to hover around this mark consistently. (litecoin 163%, terra 135%)

6. It's market cap is 7295 btc, compared to 7168 for terracoin. This is very impressive considering how CHEAP these coins are (about $0.02 ie about 2 cents), much cheaper than terracoin.

7. PPcoin vulnerabilities have now been patched and further to this a tournament is being held to prove the strength of the system and to root out any minor bugs (https://bitcointalk.org/index.php?topic=152809.0) e.g. something similar to double spend for bitcoin.

8. The only downside I see is it's only on vircurex and bitparking. Btc-e don't have it (yet) but the new exchange being developed by neotrix will. The way I see it, you can buy a few k of these coins for peanuts and imo they are the only alt coin left which is cheap and has true potential. Dev coin is very cheap for example but has poor mining rewards due to 90% of the rewards going to the developers , NVC has too much of a scam image now it will never become 'big' + market cap is tiny and fishy, Terracoin is growing but imo is too similar to bitcoin and in a bubble, Namecoin was a brilliant idea but unfortunately was executed wrong and the domain names were too cheap... Actually the other downside I see of ppcoin is it uses the SHA algorithm so will probably get ASICs? This affects all coins apart from Litecoin and NVC though.

Those are my thoughts on the matter. Maybe I am wrong. But maybe I am right. I will revisit this topic in the coming months! What do you guys think  

[smoothie]

I'm not convinced that Sunny King actually fixed all EXPLOITS of the Proof Of Stake algorithm, because of the simple fact he refuses to talk about it publicly.

As far as I am aware, PPC is still using checkpointing to prevent a forking by someone with enough computational power. This implies PPC is broken. Centralized checkpointing is not decentralized.

[efx]

Well, I think he feels it would be targeted. In all fairness, that aspect isn't any more broken than bitcoin. The problem arises from centralizing a coin to implement a system that is highly untested. You break one *very* important feature to implement something that should honestly still be on a testnet.

I say, if Sunny can give at least a little better documentation and actually decentralize securely, then we shall see. You still have a problem with sha256 asics, though.... The rolling average doesn't prevent malicious use of an asic to rocket up the diff over a period of time (1% max per block, I believe) and watch it slowly fall by the same percentage. It may take a little longer to ramp up, but it's going to take just as long to settle down. So, PPC must not only fight against more established coins for market interest, but it must also fight against its self in a more asic resistant form. I'm somewhat saddened by this because Sunny King deserves whatever profits PoS generates from whatever stake he holds in his creation. It wasn't premined, so I don't have a problem with that aspect. Maybe if NVC takes off in relation to PPC, Balth will send him some coins  .  


Anyways...It's interesting. I really think PoS needs a more thorough workout before people will feel comfortable investing large amounts. We will see what the PoS stake generation test shows. Keep in mind, the current methods of attack or those utilized by the generators are certainly not the only possibilities. The same could be said about any coin, I suppose.

[mr_random]

Since I made this topic 2 hours ago PPCoin's market cap has risen further. It was 7295 btc two hours ago, now it's 8015 btc according to dustcoin.com. That's a 10% rise.

[bushstar]

I'm not convinced that Sunny King actually fixed all EXPLOITS of the Proof Of Stake algorithm, because of the simple fact he refuses to talk about it publicly.

As far as I am aware, PPC is still using checkpointing to prevent a forking by someone with enough computational power. This implies PPC is broken. Centralized checkpointing is not decentralized.

Perhaps Sunny is taking a belt and braces approach

[Jutarul]

The recent rise is unnatural, because there have been no positive news supporting it. My bet is on newcomers who do not understand the importance of network security for the viability of a coin in the longterm. If the fix Sunny introduced is shown to have the same devastating effects on the stake generation capability, we'll see the price collapsing back to reasonable values, otherwise the price is justified.

It is worth noting, that it isn't necessary that the stake generation power (blocks/time) is proportional to the stake only. It can be allowed to be augmented by computational means. However this augmentation must be capped in terms of effectiveness. In other words, it must not be linearly proportional (that would be POW). To compare it to a lottery: If buying tickets always costs you a set amount, then buying 10 should increase your costs by 10, but not increase your chance by 10.
Maybe it is worth investigating how the target equation can be improved towards it sampling features. Currently it has POW properties (N tickets -> N times the chance).

[mr_random]

The recent rise is unnatural, because there have been no positive news supporting it.

There was no positive news about Litecoin when it surged upwards from 6 cents.

Right now PPCoin is the second most profitable coin to mine, on average, after Litecoin. Perhaps that is a factor. Whatever way you look at it there's a lot more interest in PPCoin than there was a month ago (e.g. look at the google search results trend) which can only be a good thing.

The developer Sunny has also proven himself quick to fix any problems. As time goes on less problems will arise, if any. This is the downside to PPCoin being so innovative instead of just another Bitcoin copy. But it will payoff in the long run. I don't blame Sunny for keeping things closed source for the time being, after all the work he has put into it... He should make it open source once it grows popular and he gets the rewards he deserves for all his hard work.

EDIT: I was wrong. In fact it is open source already. Even better!

[efx]

"I don't blame Sunny for keeping things closed source for the time being, after all the work he has put into it... "
What?  Premining is great, too!



Sarcasm aside, if the coin is centralized, then we have nothing. Ripple credits, anyone? You are blindly repeating things that you have read. I prefer coin devs to show some modesty and not over-hype their product by advertising features that are in a beta state, at best.



"the developer Sunny has also proven himself quick to fix any problems. As time goes on less problems will arise, if any. This is the downside to PPCoin being so innovative instead of just another Bitcoin copy."

Those are all complete assumptions. Honestly, I think it's time to lay off the PPC noise, it's obvious you are trying to hype it further for 'unknown reasons'. Bitcoin forked just the other day...not immediately after release.

Be completely honest...It's just not a very safe bet at this time.

[Jutarul]

The developer Sunny has also proven himself quick to address any problems.

fixed that for you. Whether it's a "fix" has not been confirmed.

As time goes on less problems will arise, if any. This is the downside to PPCoin being so innovative instead of just another Bitcoin copy. But it will payoff in the long run. I don't blame Sunny for keeping things closed source for the time being, after all the work he has put into it... He should make it open source once it grows popular and he gets the rewards he deserves for all his hard work.

I agree on you that there has to be a reward for pushing innovative concepts. However, I urge you to revise your trust policy. You sound naive.

[mr_random]

Be completely honest...It's just not a very safe bet at this time.

Nowhere did I say it's a 'very safe bet'. Please don't put words in my mouth. I've said there is a lot of new activity and interest in PPCoin and I am speculating whether it's under-priced.

[efx]

Heh, never said you did. Adjectives are important, as are implications. 'Tis possible that it might jump to TRC price but some serious bubble bursting is going to happen all 'round, very soon.

[mr_random]

As time goes on less problems will arise, if any. This is the downside to PPCoin being so innovative instead of just another Bitcoin copy. But it will payoff in the long run. I don't blame Sunny for keeping things closed source for the time being, after all the work he has put into it... He should make it open source once it grows popular and he gets the rewards he deserves for all his hard work.

I agree on you that there has to be a reward for pushing innovative concepts. However, I urge you to revise your trust policy. You sound naive.

Not seeing where I sound naive in my quoted post  

Let's see what the coming months bring.

[mr_random]

Heh, never said you did. Adjectives are important, as are implications. 'Tis possible that it might jump to TRC price but some serious bubble bursting is going to happen all 'round, very soon.

Nowhere do I imply it's a very safe bet either. 

Note the sentence in bold at the end where I say: Maybe I am wrong

I am thinking long term here. Let's see where the price is in 6 months time.

[efx]

Nowhere did I imply that you think it's a 'very' safe bet. You think it's worth risking, no?


...Oops...yes I did...Sorry, hahaha.

No bet is safe (the nature of a bet), they are all consist of varying degrees of safety, influenced by countless factors. I just mean this one is rather dubious, at this time.  

[ehoffman]

Actually, if the profitability remains at 200%, I'd say it's either overpriced, or undermined (in the sense we would expect more people mining it)!

Anyway, I'm currently FPGA-mining it at 2.2GH/s  Much more stable lately in profitability than TRC.  Can get me around 15~20$/day

[Jutarul]

As time goes on less problems will arise, if any. ...

Not seeing where I sound naive in my quoted post  

here

[efx]

Actually, if the profitability remains at 200%, I'd say it's either overpriced, or undermined (in the sense we would expect more people mining it)!

Anyway, I'm currently FPGA-mining it at 2.2GH/s  Much more stable lately in profitability than TRC.  Can get me around 15~20$/day

Mining is a whole new game though, you are just watching the buy orders and calculating profits based on selling now without much speculation long-term.

Unless you hoard.

[mr_random]

Actually, if the profitability remains at 200%, I'd say it's either overpriced, or undermined (in the sense we would expect more people mining it)!

Anyway, I'm currently FPGA-mining it at 2.2GH/s  Much more stable lately in profitability than TRC.  Can get me around 15~20$/day

Mining is a whole new game though, you are just watching the buy orders and calculating profits based on selling now without much speculation long-term.

Unless you hoard.

The more people who get attracted to mining it because of the high profitability, the better it is for PPCoin.

[mr_random]

Btw just to add, less than 5% of my cryptocurrency holdings are in PPCoin at present.

[ehoffman]

Mining is a whole new game though, you are just watching the buy orders and calculating profits based on selling now without much speculation long-term.

Unless you hoard.

Actually I don't hoard PPC!  I take what I can now, before it goes back down in price.  I do believe in BTC, not in other alt-coins (apart maybe LTC for GPU miners).  I come and take a ride while it's worth it, then I move along when the show is over

For me, the long term is Bitcoin, not [put prefix here]coin...