Will ASIC adoption bring PPC to the forefront of alt currency?

[tacotime]

PPC network hash rate has doubled in the past few 30 days.

http://bitinfocharts.com/comparison/difficulty-ppc.html

PPC reward halves with every 16 (2^4) fold increase in hash rate of the network.  If the network hash rate continues to increase at this rate, that means we'll see block reward halving within a few months.

I don't think it's going to continue to do that.  I think network hash rate is going to increase much faster.  I plan to point my Bitfury devices to the PPC network when they arrive.  The second generation of ASICs will bring with it about a 1000 fold increase in efficiency as compared to video cards.  If even one fifth of that goes towards the PPC network, we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

If Sunny King foresaw this and created the reward algorithm in PPC to spur on adoption of his PoS methodology: kudos, nice idea.

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[Etlase2]

we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

I do not think that this is a guaranteed result by any stretch. Bitcoin has the network effect going for it, PPC does not. Strangling the supply so early on in its adoption could result in it simply being avoided.

[teddyb797]

i think ppc price will = the cost of production.

so if the difficulty continues to rise we will see price increasing as well.

[QuantPlus]

we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

I do not think that this is a guaranteed result by any stretch. Bitcoin has the network effect going for it, PPC does not. Strangling the supply so early on in its adoption could result in it simply being avoided.

I tend to agree with this... PPC = 0.00148 Sept 21 = end of summer...
Let's check it in a few months.

Slashing supply of something that is completely unnecessary...
And easily replaceable with dozens of other equally unnecessary alts...
Does not increase it's value in any rational economic universe.

Please show me coin with large supply deflation in first 6 months...
That went up after the initial pump and dump.

[coolbeans94]

It doesn't make sense for people to be mining it, unless the price is going to be going up.

Why are people mining it so hard?

Difficulty is supposed to follow price, correct?
So why has the difficulty gone up so much if the price is still low? They must think the price is going to up?

My only guess is that there is a lot of anticipation for the PPC v0.4 release. It should be coming out in a few weeks and should make it a lot easier for mainstream acceptance. I hear it is going to feature many improvements, and make PPC awesome.

Price has been going up:

[tacotime]

we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

I do not think that this is a guaranteed result by any stretch. Bitcoin has the network effect going for it, PPC does not. Strangling the supply so early on in its adoption could result in it simply being avoided.

Well, I don't think it'll be another Mincoin or SC2 though because the long expanse in which PPC has been issued since its genesis was reasonably fair and the change in reward is based partially on the userbase and partially on an arbitrary algorithm released by the original designer, rather than just the latter.  When the deflation isn't 100% dictated by the designer and is effectively created by the work of the userbase, I think it's a different scenario.

I don't think it's a guaranteed result either, but I'm happy to mine it when I know that dumping my ASICs onto it decreases the supply of the currency more than it does for Bitcoin.

We've yet to see what happens with elastic reward coins when hash rate increases exponentially.  I think it's silly to call PPC "worthless" too, as it was the original PoS coin and most of the other current PoS coins are just clones of it.  The same argument went for LTC and LTC has experienced more growth than I ever anticipated.

[QuantPlus]

we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

I do not think that this is a guaranteed result by any stretch. Bitcoin has the network effect going for it, PPC does not. Strangling the supply so early on in its adoption could result in it simply being avoided.

We've yet to see what happens with elastic reward coins when hash rate increases exponentially.  I think it's silly to call PPC "worthless" too, as it was the original PoS coin and most of the other current PoS coins are just clones of it.  The same argument went for LTC and LTC has experienced more growth than I ever anticipated.

Hey, I'm very pro-Alt...
It's the lab for the future of money...
And it's only 5 minutes after midnight.

But other than maybe LTC...
Every other Alt has value only in it's convertibility to Bitcoin...
And a very small value as a trading/entertainment vehicle...
Most people would consider them otherwise economically "worthless".

That will likely not be the case 2-3 years from now.

But I'd still love hear about a "highly deflationary" coin that wasn't a Pump and Dump...
And gained and sustained value after mining was slashed 6 months post launch...
It just seems counterintuitive.

[tacotime]

By the looks of it, PPC just may achieve that.  I think purchasers have more confidence in a market they can manipulate themselves by simply adding more ASICs to the network.

[wantrepreneur]

Yes taco; PPC is gaining ASIC market-share.

[fiddelingones]

That will likely not be the case 2-3 years from now.

Why? Do you expect there will be services/products paid only with these altcoins 

[fendlestick]

That will likely not be the case 2-3 years from now.

Why? Do you expect there will be services/products paid only with these altcoins 

I have 4 stores that only take coins, no fiat allowed ever! in the next few years more new stores will be around and we will be celebrating our 3rd birthday.

[wantrepreneur]

similar to the way LTC used to benefit from bitcoin GPU miners;

PPC is now benefitting from the switch to ASICs.

[smoothie]

Where is the merchant adoption? Any good links?

[QuantPlus]

we're looking at massive supply deflation in the next sixth months, and a subsequent mass increase in valuation against fiat.

I do not think that this is a guaranteed result by any stretch. Bitcoin has the network effect going for it, PPC does not. Strangling the supply so early on in its adoption could result in it simply being avoided.

Well, I don't think it'll be another Mincoin or SC2 though because the long expanse in which PPC has been issued since its genesis was reasonably fair and the change in reward is based partially on the userbase and partially on an arbitrary algorithm released by the original designer, rather than just the latter.  When the deflation isn't 100% dictated by the designer and is effectively created by the work of the userbase, I think it's a different scenario.

I don't think it's a guaranteed result either, but I'm happy to mine it when I know that dumping my ASICs onto it decreases the supply of the currency more than it does for Bitcoin.

We've yet to see what happens with elastic reward coins when hash rate increases exponentially.  I think it's silly to call PPC "worthless" too, as it was the original PoS coin and most of the other current PoS coins are just clones of it.  The same argument went for LTC and LTC has experienced more growth than I ever anticipated.

3 weeks later you are looking good...
PPC tripled to 0.004 on heavy volume...
Then lost about 25% to 0.003 in one day (today Oct 7).

This thread addresses central concepts that will define the future of crypto-currency...
Concepts that can be counter-intuitive... keep it coming, baby.

[matt608]

Yes, this is a big part of what is going on with PPC, bravo on the prediction OP.

[reb0rn21]

pure pump and dump, PPC is a failed coin easy to pump and make ppl be stupid

[matt608]

pure pump and dump, PPC is a failed coin easy to pump and make ppl be stupid

There is pumping going on for sure, but PPC is far from "pure" pump and dump.  Theres a natural market correction upwards going on too due to ASIC adoption as well as LTC weakening and the upcoming client update, and people becoming more aware of bitcoins electricity consumption, which is only going to get worse and worse.  Asic adoption is going to keep increasing, and so PPC is going to keep rising even faster than bitcoin. 

I predict PPC will reach 0.005 by Christmas, maybe a lot sooner.

[tacotime]

Looks like my predictions on supply were correct.  The average network hashrate is now about 13 TH/s, up from 1 TH/s a couple of months ago.  When it hits 16 TH/s, the block reward will have effectively halved.

[Yurizhai]

Nicely done.

[tacotime]

http://bitinfocharts.com/comparison/hashrate-ppc.html

whoa

congrats to whoever just brought 38 TH/s to the network

Which strangely coincides with some massive buys...