[QIQ] PPCoin so circa 18M is all the PPC ?!!

[jubalix]

It seems there is a lot of misunderstanding about PPC that I would like cleared up. Now I may be wrong but one very bit misunderstanding is the number of coins.

As things stand I think there are around 18 m PPC and if you look at the graph it appears very very few as effectively negligible new coins are now being created, eg 5 a day, 14 a day 0 a day?

http://www.proofofstake.com/

so while there is hard cap of 2 Billion, in fact after a certain miner uptake/hash or something like usage, no more coins are made or coins are rarely made.

it seems that a slight new number of coins seem to be made to account for reduce circulation

Anyway I hope sunnyking comes and explains this but the Take home is, there are about 3 Million less coins in PPC than there will be in BTC and PPC is now rarely makeing any new coins since about 25 MARCH

Everyone seems to think PPC is pumping out new coins but it seems quite the opposite

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[Sunny King]

There are a few points to note

• ppcoin inflation rate is currently close to or lower than litecoin
• inflation is regulated by Moore's Law and will approach very low level in the future regardless of adoption
• short term coin production fluctuates a lot. last week there were quite a number of coins produced due to heavy mining. this week not so much.
• forget about the 2 billion figure, it's only used for consistency checking, has nothing to do with future money supply.

[dcl595]

Hi Sunny,

If you dont mind, what are your short medium and long term proposals/goals for PPcoin, perhaps I missed a thread already discussing this?

Thanks

[Luckybit]

There are a few points to note

• ppcoin inflation rate is currently close to or lower than litecoin
• inflation is regulated by Moore's Law and will approach very low level in the future regardless of adoption
• short term coin production fluctuates a lot. last week there were quite a number of coins produced due to heavy mining. this week not so much.
• forget about the 2 billion figure, it's only used for consistency checking, has nothing to do with future money supply.

I like the design of PPcoin and I support the effort but why on earth create billions? Why not 11 million so that it's even more deflationary than Bitcoin? Basically I like everything about PPC except the fact that it wont be scarce enough to be valuable enough in purchasing power. I think Bitcoin is deflationary and I think that system seems to work but it's not deflationary enough in my opinion because it's not going to last for 100 years or more but maybe it will last for 15-20. So making only 11 million coins total would make it much more scarce but also on the prediction that none of these cryptocurrencies are going to last for 100 years.


Depending on what happens with AGI, the technological singularity, superintelligence, or any number of emerging technologies or even competition from other better cryptocurrencies I would say they all will have a relatively short shelf life similar to web browser dominance or how Apple dominated the 80s, Microsoft the 90s, and now Apple is making a comeback again. I think AGI (artificial general intelligence) will be the ultimate game changer and may totally change our economics entirely. I do like that PPcoin is energy efficient.

Anyway can you explain why 1 billion+ coins were chosen instead of 21 million (or 11 million as I suggest)?

[Sunny King]

Anyway can you explain why 1 billion+ coins were chosen instead of 21 million (or 11 million as I suggest)?

Don't believe the FUD on the web, I never said there will be billions of ppcoin. ppcoin inflation will stay below litecoin for maybe at least next 10+ years. It's designed to simulate gold, so don't let the fact that it doesn't use a hard cap confuse you. It's basically comparable to bitcoin's inflation.

For those of you who have to have simple numbers, just regard it that ppcoin's money supply would track closely to litecoin.

[chriswen]

PPCoin is not meant to be as deflationary as Bitcoin.

Now going back to money supply.  Currently there is almost 18.5 billion ppcoins.  The mint rate is currently ~450 ppcoins every 30 minutes.  That's 37.5 ppcoins every 2.5 minutes.  That's less than litecoin.  And as ppcoin gains value and gets more popular the mint rate will decrease even more.

[mr_random]

Anyway can you explain why 1 billion+ coins were chosen instead of 21 million (or 11 million as I suggest)?

Forget about the 2 billion figure, it's only used for consistency checking, has nothing to do with future money supply.

The coin cap is not pre-determined it depends on market interest in PPCoin. Higher market interest = less coins produced. Based on current market interest PPCoin looks likely to follow Litecoins supply growth I believe (Litecoin has 84 million coins as it's cap).

[Luckybit]

Anyway can you explain why 1 billion+ coins were chosen instead of 21 million (or 11 million as I suggest)?

Don't believe the FUD on the web, I never said there will be billions of ppcoin. ppcoin inflation will stay below litecoin for maybe at least next 10+ years. It's designed to simulate gold, so don't let the fact that it doesn't use a hard cap confuse you. It's basically comparable to bitcoin's inflation.

For those of you who have to have simple numbers, just regard it that ppcoin's money supply would track closely to litecoin.

Thanks for clearing that up. That is what I wanted to hear. I read there were gonna be billions.

[chriswen]

Also, eventually PPCoin's 1% annual interest will eventually surpass the PoW mining rate.  This means that by then the currency will be growing at less than 2% per year.  That's low inflation.  You seem to think that PPCoin discourages hoarding, but the 1% annual interest only applies if you don't spend the coins for more than 30 days and then you have to wait and get lucky.  So, actually ppcoin sort of encourages hoarding (abit).

[jubalix]

The thing is the 2 billion is confusing a lot of people as to supply

also  I understood that almost no new coins were being made right now, from the link I used.

There are a few points to note

• ppcoin inflation rate is currently close to or lower than litecoin
• inflation is regulated by Moore's Law and will approach very low level in the future regardless of adoption
• short term coin production fluctuates a lot. last week there were quite a number of coins produced due to heavy mining. this week not so much.
• forget about the 2 billion figure, it's only used for consistency checking, has nothing to do with future money supply.

[Invest0r]

PPC is the future cryptocoin guys.