PPCoin is the only ALTcoin

[bootlace]

I've been researching the different altcoins for a while now, and it seems to me there is actually only one real ALTERNATIVE to Bitcoin. What I mean by that is if some flaw, vulnerability, or weakness was found in Bitcoin and an alternative was required to step up and take its place, PPCoin would be the only viable option. The simple reason for that is that all other 'altcoins' are based on Bitcoin code so I fail to see how they're real alternatives. The changes proposed by the other 'altcoins' would be akin to someone saying a fake dollar bill or a yellow dollar bill or a slightly smaller dollar bill (NOT issued by the government) is a good alternative to the original dollar bills issue by the US government. From what I hear advantages promoted by these so called other altcoins are not even advantages, like how Litecoin boasts of being faster but apparently there was a legit reason why Satoshi made the block speed at 10 minutes. Even the biggest of these (Litecoin) doesn't have ONE single article in Google News so it's not like the attention is warranted.

Also, after following the media's recent reaction to Bitcoin, two major flaws are pointed out and will be pointed out, which PPCoin seems to address:

-The fact that Bitcoin is deflationary and as such always gains value and does not make people want to spend it as currency (PPCoin would have slight inflation that would I guess grow somewhere in line with population growth and therefore make it actually usable as a currency in the long term. It would immediately be preferred by the economists who shape world economic policies, whether they're correct or not is another matter.)
-The fact that Bitcoin would take tremendous amounts of computing power just to maintain in the future at a time when environmental and energy concerns increase (which I hear PPCoin addresses somewhat and is more energy efficient with its PoS approach)

There's other advantages to PPCoin but I wanted to focus on the term 'altcoin' that has been thrown around. It's sad to see that so little resource and attention is being given to what seems like the only real alternative . How is the cryptocurrency scene going to grow when so much attention is given to complete copys like Bytecoin (I'll admit, I even briefly jumped on the train) and innovations like PPCoin are largely ignored.

What does concern me though is the creator seems hellbent on helping everyone around him (including copies of his work like NVC or recent competitors like TRC) instead of focusing his limited time on his own project. It's not like PPCoin is perfect and has everything ready and in place (they don't) - so I really don't understand this approach by the creator which frankly concerns me.

TLDR: If some critical flaw is found in the Bitcoin code (and there's alot of eyeballs now looking at it with malice), PPCoin is the only alternative that can step up to fill its place right now (and essentially keep the whole cyrptocurrency concept afloat), so more attention should be given to it.

[nwbitcoin]

I tend to agree - however, one of the great things with open source projects is that new people can take over a project once the previous person has done their thing.  Its one of the myths of life that the same person who has the idea, is the one best suited to running that idea all the way through to cash cow status!

We are all good at something, and awful at other things - and its knowing when to hand over the reigns is a skill in itself!

I hope P2PCoin takes off - oh, and I do hope it starts getting called P2PCoin too! 

Or maybe P2coin, as that sounds really cool

[bootlace]

Someone was saying that P2PCoin (prefer that name too) was not decentralized - is the creator taking on too much responsibility at this point which is halting progress?

[smoothie]

PEE PEE COIN....

May as well call it DO DO COIN. 

[bootlace]

PEE PEE COIN....

May as well call it DO DO COIN. 

As a trader, you should be one of the ones supporting this coin - its the only true hedge against Bitcoin at this point. Even when the economy was doing alright, it was advised to keep some gold in the portfolio as a hedge against unforeseen developments. I see PPCoin serving a similar function for Bitcoin

[Faraday]

I agree. PPCoin actually has some value as an idea unlike most the other alt-coins which are only expensive because of people pumping the price up in the hopes of easy money, I bet most of them don't even research these alt-coins before they invest in them, they probably couldn't even tell you the differences from BTC.

[FreeBit]

Two of the bitcoin properties are:

* It is deflationary.
* Is is decentral and not controlled by goverment/central bank/bank/company.

This two properties are independent from each other. It is possible to have a decentral and uncontrolled crypto currency without inbuild deflation. PPCoin demonstrates this.

The slight inbuild inflation of PPCoin reminds me of the very sucessful monetary politics of the Deutsche Bundesbank (German Central Bank) in former decades, when they were much more independent from politics/EU/NWO and much more concerned about the value of the Deutsche Mark and the german economy. Every country around germany was pissed off because of the hard and successful politics of the Deutsche Bundesbank in stabilizing the value of the Deutsche Mark.

The concept of PPCoin reminds me of the former Deutsche Mark. The difference is, that the Deutsche Bundesbank was hacked by politics/EU/NWO. Something that can be avoided by the decentral crypto currency concepts.


Many people don't like the name PPCoin (PeePee-Coin or PiPi-Coin  ) .

If SunnyKing reads this - I vote for a name: dCoin. Which can be officially interpreted as digitalCoin. For insiders it can also mean deutschCoin, in memory to the Deutsche Mark.

I also vote for - if necessary, I cannot say so much in specific about this - of a adaption/improvement/redesign of PPCoin to mimic more of the good properties of the Deutsche Mark.

I can also imagine a new fork to implement/establish something like the dCoin. For example the implementation of scrypt may make sense. NovaCoin(?) has implemented inflation and scrypt, but the people behind NovaCoin do not convince me.

If someone or some people as a team, serious and reliable (I like the very constant element in Sunny King daily updates) would do this (I cannot do this, not enough specific knowledge about cryptography/technology/economy/public relations), I would like to be informed to be able to profit from the early adopter bonus.

I think that a decentral and uncontrollable crypto curreny with slight inflation will  provide a lot to the economic well being of mankind in 21st centrury ...

[No_2]

Can anyone succinctly explain the moderate inflationary mechanism behind PPC? I was half way through their white paper last night and fell asleep - I did not fully understand the mechanism.

[sangaman]

I don't think the fact that ppcoin has a 1% annual return for creating proof of stake blocks makes it not deflationary, it's really no different from bitcoin in that way. First of all, the new coins go to the holders of coins so there still isn't the incentive to spend that inflation normally creates. If an apple is $1 today and will be $1.01 tomorrow, but my $1 will turn itself into $1.01 by tomorrow, then I'm in no hurry to buy that apple today. Second, ppcoin would have max 1% money supply growth long term (probably less since not all coins make stake) and you'd still have deflation with that I believe. The money supply for fiat currencies grows a lot faster than that over time.

All that said, I think the deflationary model of these coins is fine. AFAIK the only coin that doesn't have this "problem" is freicoin. People have wants and needs in the present and they will spend their coins (or convert them to other currencies then spend) even if they expect that they might be able to buy a bit more stuff if they wait a year.

[chriswen]

1% annually is currently very far away.

[smoothie]

What you PEE PEE fan boys forget:

1. PPC has not proven to have fixed the previously found vulnerabilities exposed by jutarul and have not proven the 'new' POS algorithm to be well tested for exploits.

2. Shady development.

3. Sunny's ineptitude to discuss publicly his design of the NEW POS algorithm.

Dont take something as truth just because you heard it was "energy-efficient" etc.

What is the point of energy efficiency if their is an exploit that still needs to be fixed within the code?

I prefer not to touch this coin until Sunny comes out and addresses my three points above with 100% transparency.

 

Oh and as a TRADER, I know what not to touch/invest in when the writing is on the wall.

[No_2]

Thanks smoothie, noted.

[samson]

Who is this guy ? Some kind of joker ?

Quoted for posterity.

What you PEE PEE fan boys forget:

1. PPC has not proven to have fixed the previously found vulnerabilities exposed by jutarul and have not proven the 'new' POS algorithm to be well tested for exploits.

2. Shady development.

3. Sunny's ineptitude to discuss publicly his design of the NEW POS algorithm.

Dont take something as truth just because you heard it was "energy-efficient" etc.

What is the point of energy efficiency if their is an exploit that still needs to be fixed within the code?

I prefer not to touch this coin until Sunny comes out and addresses my three points above with 100% transparency.

 

Oh and as a TRADER, I know what not to touch/invest in when the writing is on the wall.

[bootlace]

What you PEE PEE fan boys forget:

1. PPC has not proven to have fixed the previously found vulnerabilities exposed by jutarul and have not proven the 'new' POS algorithm to be well tested for exploits.

2. Shady development.

3. Sunny's ineptitude to discuss publicly his design of the NEW POS algorithm.

Dont take something as truth just because you heard it was "energy-efficient" etc.

What is the point of energy efficiency if their is an exploit that still needs to be fixed within the code?

I prefer not to touch this coin until Sunny comes out and addresses my three points above with 100% transparency.

 

Oh and as a TRADER, I know what not to touch/invest in when the writing is on the wall.

Yes we are aware there are some problems, one could find a bunch of complaints relating to Bitcoin as well (such as who the heck is the creator?!) but the important thing should be potential. I'd definitely like to hear Sunny address some of these direct complaints because it seems the community is stuck on some minor points and can't move on to see the bigger picture.

[mr_random]

Lmao at people listening to Smoothie. He is a self proclaimed troll

What you PEE PEE fan boys forget:

1. PPC has not proven to have fixed the previously found vulnerabilities exposed by jutarul and have not proven the 'new' POS algorithm to be well tested for exploits.

2. Shady development.

3. Sunny's ineptitude to discuss publicly his design of the NEW POS algorithm.

Dont take something as truth just because you heard it was "energy-efficient" etc.

What is the point of energy efficiency if their is an exploit that still needs to be fixed within the code?

I prefer not to touch this coin until Sunny comes out and addresses my three points above with 100% transparency.

 

Oh and as a TRADER, I know what not to touch/invest in when the writing is on the wall.

1. All the vulnerabilities have been fixed, just like Bitcoins early problems were fixed. Go ahead and exploit one of these vulnerabilities you are talking about? It is true that the other alt coins have the advantage of being so similar to Bitcoin they haven't got to worry much about exploits. Sunny is an extremely active developer unlike a lot of the other coins and he even found an exploit in Terracoin this week. Just like Bitcoin, the longer PPCoin is 'stress tested' out in the wild with real users, the more secure it is. PPCoin is going from strength to strength, it's only getting better. And it's innovative.

2. The development is anything but shady. It's open source, with weekly updates (there is a weekly update topic). Because PPCoin is not a cheap clone of Bitcoin and requires a lot of work it's hardly surprising he doesn't have time to do everything you say yet he is still very active in this community unlike certain other devs I won't name. Anyone here don't believe me? Go to his profile and click on recent posts - https://bitcointalk.org/index.php?action=profile;u=63182, he is answering tons of questions daily

3. You can actually find the algorithm quite easily in the source code, I found it and I only have basic programming knowledge. It's all there for you or anyone else to read.

[mr_random]

Yes we are aware there are some problems, one could find a bunch of complaints relating to Bitcoin as well (such as who the heck is the creator?!) but the important thing should be potential. I'd definitely like to hear Sunny address some of these direct complaints because it seems the community is stuck on some minor points and can't move on to see the bigger picture.

I doubt Sunny the developer will address Smoothie, he probably put him on ignore 6 months ago due to his endlessPPCoin trolling (I am semi joking semi serious).

[and0r]

lol @ PPC

yeah no, you're really wasting your time trying to promote ppc
this artificial hype attempt is so hilarious

ppc is just a lame attempt at devaluing the ltc so the btc wont have a solid backup currency acting as a lower denomination

banking shill detected
goback2africa

[FJBourne]

If anyone wants to buy some PPCoin for TRC let me know. Have about 4.5k to trade

[mr_random]

lol @ PPC

yeah no, you're really wasting your time trying to promote ppc
this artificial hype attempt is so hilarious

ppc is just a lame attempt at devaluing the ltc so the btc wont have a solid backup currency acting as a lower denomination

banking shill detected
goback2africa

You produce no arguments or discussion in your post. You shouldn't fear it, it's very different to Litecoin and Bitcoin (both of which I own).

And there is a lot of interest in PPCoin, look at this google trends graphs showing the number of people searching PPCoin vs the number of people searching Terracoin:



(PPCoin has double the amount of searches and is trending upwards heavily).

[bootlace]

lol @ PPC

yeah no, you're really wasting your time trying to promote ppc
this artificial hype attempt is so hilarious

ppc is just a lame attempt at devaluing the ltc so the btc wont have a solid backup currency acting as a lower denomination

banking shill detected
goback2africa

Which part is artificial? Go back to BTC-e to trick newbies into buying your LTC and leave the serious discussion to adults.