[PPC] The Future of Peercoin - Sunny King

[PeercoinEnthusiast]

About 2 weeks ago, the Peercoin community put together a series of questions for Sunny King about the future of PPC. In an effort to start up conversations surrounding the coin and crypto in general, we'll post some of Sunny's responses to the Q&A that was hosted and hopefully develop a great dialog.

http://www.peercointalk.org/index.php



Update Nov 14

The intention of this thread was to have a great debate while also handing a few free coins for fun. Unfortunately, most people just posted wallet addresses.  Please see the main PPC giveaway for free coins, we're happy to give them out to the community. This thread will remain focused on debate.

[1713531029]

1713531029

[1713531029]

1713531029

[1713531029]

1713531029

[1713531029]

1713531029

[loveys]

agree!

PLdAZnFqK4GiyAB2rCxooDveNG7Xjucdd5

[Viscera]

Wow, Thank you Sunny King for you thoughtful answer. I strongly agree with this egalitarian view that the rich and poor can BOTH get richer together. Thanks to everyone who is encouraging this discussion, may it continue to be thoughtful and positive

PPC Address PWkWQsevUnEcheoy8wbsbfAy56iVeCwg5W

thanks

[super3]

Agree! No free PPC needed. Thanks though.

[golikcoin]

I agree 

PUk6uH6CRCuTfHzjFbK78voo89Ka3QzdkP thanks

[Klubknuckle]

Agree and thanks for the free coins

PPC: PQBXdb1Zm8J9ocMg8MTPJMwcyejj7DnrM9

[freecoins]

Agreed!

PEoUkHsdvcqiNQAKP6nmqn8chm2dLr1KqL

Thanks!

[anonymous_acc]

PP852ymANqNLeUKEnbWShieiN1tWmwePxc

Thank You !

[ropyu1978]

i agree

PDSrJsTsEhND4Paqb2DPfdkxpjQXdR6fYF

[testz]

Agree!

[rtorfeh]

Agreeeee

PDf8fANsn6spJBB93PcvWyQRgt65zUNpxL

[PeercoinEnthusiast]

"To encourage participation, the first 15 meaningful responses ."

The idea was to engage in a discussion, the PPC was just a token 'thank you'.  I don't mind giving out PPC out of my pocket, I just want to get your opinions and why.  The only way the Peercoin community can address critics is to know what they disagree with in the first place.

A few sentences is fine, tell us what you think!

[belltown]

I disagree. PPC PoS is like stock split. Let's say I had 100 MSFT shares and they split 1:2. So now I have 200 shares not because I did something to earn more shares, but just because I owned shares. Did I actually get any richer? Not at all. I still own the same part of the company I did before, and share price appropriately dropped 50%. I think same should happen with PPC PoS. If people receive new coins as PoS the value of each coin should drop. So both rich and poor  shouldn't get any richer just because of PoS.

PGgQ1LxP5VLpVkeAdyKuVxiACGbWgULP27

[wunkbone]

Agree

PCSnBB5ZsJarozph3aeddtLk39gKLiPvZ8

[wachtwoord]

Hey, you guys rebranded the name!

I disagree with removing PoS because it is the main differentiators of PPC.

I disagree with the statement because using PoS is open to all. Everyone can do it and no-one is excluded.

PLRxLq3tjWpQHmF38iRAcy3UctrHC3TksN

Edit
I Received the bounty

[hellscabane]

I agree.  Those with stake are both providing a service and taking on a particular type of risk.  They are serving the network by always having a set amount of stake; and they are also taking on risks by not having their money circulate (opportunity risks, dependence on others to provide the monetary velocity needed to support the economic value of PPC, and so forth).

I wouldn't say that PPC acts like centralized banking since money isn't collected and distributed to and from, but indeed some of the financial functions that are arrived from the way it works are similar.

[pmconrad]

I think "the rich get richer and the poor get poorer" is stupid ideological nonsense in the first place. In a pure PoW coin, the rich get richer too. Or do you think the poor can afford high-end mining hardware?

In addition to what belltown has said I'd like to point out that PoS most likely makes a coin more stable than PoW with a hard cap on coin supply. Cryptocoins, like "real" money, get lost (in the sense that once a private key is lost the coins belonging to its address are effectively removed from the market). Therefore, pure PoW coins with a hard cap on coin supply effectively suffer from deflation. This is countered by PoS minting.

PJe3dhXv4hBwtCSf6PSf9i68Hf3uqdTAyd

[ple]

agree

PVKVjGNWeAsn6LAH5QF7nE9CCYWypFRv8i

[PeercoinEnthusiast]

SENT

1. Viscera
2. belltown
3. wachtwoord
4. hellscabane
5. pmconrad
6. Digicoiner
7. cc5alive
8. KrLos
9. flound1129
10.
11.
12.
13.
14.
15.

Let's get some additional debate moving!

[sumantso]

Ageed of course!

PCMuiYYxAeMT2SjyCsxgevjqBsNzyqjks1  Thanks

[magnificat_mafia]

ha, of course he said that, Sunny King and his friends premined millions of coins.  But don't worry, they will get richer at the same rate as everyone else....

[viriat0]

Agreed!

PXTeVKETY7nYm216eUwQn9XehtfCMFVRS5

thanks

[Digicoiner]

I agree.  Both those rich in PPC and poor in PPC increase their holdings through PoS.  It's also providing a service to the network.  Although it could lower the overall velocity of PPC which might not be a good thing although I'm not sure about that.

PFfhb9oEnpQY28HQt4FXhEKX1k9h91pVeB

Thanks

[PeercoinEnthusiast]

ha, of course he said that, Sunny King and his friends premined millions of coins.  But don't worry, they will get richer at the same rate as everyone else....

That is a lie. We proved there was not a premine at http://peercoinmyths.com/. 9 day announcement before launch, no pre-mine. Nice try.

[cc5alive]

Assuming the rich and poor are both saving, let's look at how PoS affects relative wealth.  Person A has 1000 PPC, B has 500 PPC, C has 98 PPC, D has 2 PPC.  There is a total of 1600 PPC in this example, thus the distribution of wealth is as follows:
A = 62.5%
B = 31.25%
C = 6.125%
D = 0.125%

Assuming that each person gains 1% interest (and yes, this simplifies priority of PoS minting determined by coin age), the new totals of each person are as follows:
A = 1010/1616 = 62.5%
B = 505/1616 = 31.25%
C = 98.98/1616 = 6.125%
D = 2/1616 = 0.125%

The main point here is that in its most simplified version, the rich and poor do increase wealth proportionately.


PPC
PMoc8U23c9FCft4m9N3Myqzdiv1SztTBtN

[Pitstop]

PLVexegF62BwgueGD9Nn4ptMobN16BA8e9  TKS

[KrLos]

I really think that the statment "the richier get richer and the poorer get also richier" is a really good one, cause is very diferent this system compared to the actual economical system, I totally agree with sunny's toughts.

PRYVVXHnh2RaMHoEV1jRUBwkBpKN9TLbuC

[flound1129]

Proof of stake is not like interest at all.  It's a compensation for the effort of the miners to keep their wallets open which expands and strengthens the network.

You are not lending money to anyone when you generate a PoS block.

Otherwise agree.  PLDEx3yKPKgwWyiGWwpv9PNWNYorUcTskE  thanks!

[PeercoinEnthusiast]

Sending coins right now.

- If you received your coins, please let us know
- If you typed up an opinion and didn't receive coins, please let us know
- If you just said agreed or disagreed, please re-read my original post

SENT

1. Viscera
2. belltown
3. wachtwoord
4. hellscabane
5. pmconrad
6. Digicoiner
7. cc5alive
8. KrLos
9. flound1129
10.
11.
12.
13.
14.
15.

[artiface]

I agree and disagree. It's not black and white really. In a PoS system it is not really "the rich get richer and the poor get poorer" or "the rich get richer and the poor get richer".

When new coins are generated by PoS the money supply is increased so the value of each coin (in theory land) goes down proportionally.  If everyone lets their coins earn PoS at the same rate the rich and poor stay the same amount of rich or poor. If you don't let your coins generate PoS then you get poorer because you will very slowly have less percentage of the coin. If you are too poor to allow your coins to generate PoS because you need to spend them, while a rich person has enough to hoard away, well then yes the rich will get richer and the poor will get poorer, so in some cases the criticism is true, but not always.

PJyCZXM3vakfwVpEtnZX27X61uESC5kDir

[cc5alive]

@PeercoinEnthusiast

I received my PPC
Thank you.

[irritant]

Hey, you guys rebranded the name!

I disagree with removing PoS because it is the main differentiators of PPC.

I disagree with the statement because using PoS is open to all. Everyone can do it and no-one is excluded.

PLRxLq3tjWpQHmF38iRAcy3UctrHC3TksN

maybe i didnt read carefully, but where does it say something about removing PoS?

[wigglyuk]

I'm not sure how Proof-of-stake works but here is what I can add if it hasnt be added:

I agree with Sunny but I think there needs to be a reassessment of the phrase "same rate" and "Proportional". Sure they have the same figure of interest but the richer get richer faster than the poor get richer, although they will always be the same ratio between their incomes and therefore proportional, the amount of total income gained between the rich and poor is not proportional.

I am fine with this solution, but I do think there should be another coin to counteract this coin.
A coin where the rate of interest is significantly less for the rich as it is for the poor. Such that the poor have a larger rate of interest than the rich but as the poor become rich the rate is decreased. Thereby to bridge the gap and make the total income gained proportional rather than the rate of interest.

PUd4CSdnrFrNgNa3sMgSSNfHSaynYFvvhJ
thanks for the unique giveaway.

EDIT: Received 1PPC

[Sentinelrv]

I agree and disagree. It's not black and white really. In a PoS system it is not really "the rich get richer and the poor get poorer" or "the rich get richer and the poor get richer".

When new coins are generated by PoS the money supply is increased so the value of each coin (in theory land) goes down proportionally.  If everyone lets their coins earn PoS at the same rate the rich and poor stay the same amount of rich or poor. If you don't let your coins generate PoS then you get poorer because you will very slowly have less percentage of the coin. If you are too poor to allow your coins to generate PoS because you need to spend them, while a rich person has enough to hoard away, well then yes the rich will get richer and the poor will get poorer, so in some cases the criticism is true, but not always.

I'm not an expert by any means, but I think I agree with you. I believe what you're saying is that both the rich and the poor that are holding their ppc and generating stake with it will become richer. At the same time, both the rich and the poor that are transacting with their ppc and NOT generating stake are becoming poorer. They're becoming poorer because they're not using their ppc to generate stake and are losing value through the 1% inflation.
 
So to sum it up, whether you're rich or poor, if you generate stake you will become richer. At the same time, whether you're rich or poor, if you don't generate stake you will very slowly lose value through 1% inflation and become poorer.
 
And if this is correct, I don't see any problem with it. As Sunny said in the last sentence of his response...
 
"Meanwhile, those who transact in the network with high velocity pay the security cost via low inflation." - Sunny King
 
...The people who are not generating stake and transacting with their money pay this fee to those who are generating stake because they're providing the service of securing the network. It's only fair that those who are guaranteeing security get paid by those taking advantage of their service.

[belltown]

A coin where the rate of interest is significantly less for the rich as it is for the poor. Such that the poor have a larger rate of interest than the rich but as the poor become rich the rate is decreased. Thereby to bridge the gap and make the total income gained proportional rather than the rate of interest.

The rich are not just rich, but they are usually SMART. So if I have a lot of coins and you would want to penalize my interest because now I'm considered "rich" then I will just create hundreds of small wallets so I can receive full interest on my money, same as "poor" do. So rich will end up receicing the same interest as poor anyway despite the attempt to regulate PoS interest.

[wigglyuk]

A coin where the rate of interest is significantly less for the rich as it is for the poor. Such that the poor have a larger rate of interest than the rich but as the poor become rich the rate is decreased. Thereby to bridge the gap and make the total income gained proportional rather than the rate of interest.

The rich are not just rich, but they are usually SMART. So if I have a lot of coins and you would want to penalize my interest because now I'm considered "rich" then I will just create hundreds of small wallets so I can receive full interest on my money, same as "poor" do. So rich will end up receicing the same interest as poor anyway despite the attempt to regulate PoS interest.

Interesting, I didn't think of that. I'm not saying a new coin of this type would work, but it would be an interesting experiment.
In that case I would apply the Tor bitcoin network model, in which case you can only make a new wallet every X many hours and only Y many wallets can be added to the network every block (X and Y would not be constant). This would limit the attempt to feed off the poor's interest. But it would still be a valid strategy to create every possible wallet you could to receive the maximum interest thereby early adopters would have the largest maximum. Regulating the PoS interest would be hard, but I don't think it would be impossible.

[Snail21]

Agree. Holding the coins therefore providing defense against 51% attacks is a service for the network. People who holding coins instead of selling for BTC basically investing into the network. Bigger investment certainly means bigger return.

PT6fFzE265RbpszmxDVekqVgDd82AfUVCr

[belltown]

Interesting, I didn't think of that ... Regulating the PoS interest would be hard, but I don't think it would be impossible.

Let us create a big government and many regulations so we help the poor... Hmm, that didn't work. So what's the solution? Correct! We need more and better regulations, we need bigger and better government.

BTW. Thanks for the coin! I did receive it.

[KrLos]

Recieved! thanks a lot

[Lederstrumpf]

Agree with Sunny, primarily because this accusation is not PoS specific. It can in the very same way be argued that PoW mining favours those that are able to afford better mining rigs because their share of new coins generated is greater. Moreover, as with PoS, this income is proportional to the actual investment the party has made into the currency, whether this is buying coins or running hardware.

I guess it could be argued that PoW has more variables that are related to the actual time investment of the party - i.e. mining rigs have to be fine tuned to mine at the greatest hash rate, cards must be undervolted to save on electricity bills, etc., all of which gives the poorer man a bit of headroom to outsmart his richer neighbour and improve his overall position. But yet again, the greater the mining rig involved, the greater the payoff of the extra time investment, so you run into the same issue that PoS is accused of.

PVnznVteB312yvWWDcxZocWRzR3pM5PLQT
Thanks, this is a welcome method of encouraging discussion!

[mhps]

I think in reality if PPC is to become a real currency people use to pay daily expenses, then [EDIT] in a percentage sense [/EDIT] not only the rich will get richer and poorer get poorer, but also that determined people who own most PPC will own most of the PPC in the world. I explained it here http://www.peercointalk.org/index.php?topic=152.msg4987#msg4987 and here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106.  I update it here again:

Given that
1) POS is generated only by stakes -- the ppercoins in a wallet that haven't moved in 30 days. If we consider compound interest, the POS income rate is slightly higher than 1% per year.
2) PPC are mostly minted by POW today but the goal is that eventually most of peercoins in the world are generated by POS.
3) There is no cap of the total amount of PPC, therefore, there is no limit in how many new POS peercoins will be created.
4) If PPC is to become a real currency which people use their PPC to pay daily expenses, the poorer people tend to have most of their PPCs in curculation, and the richer people can afford to side aside more PPCs as POS generating stakes. Just look around, the poorer poeple have less in their saving account.

We get:
1) Most of the peercoins in the world will go to the POS stake owners.
2) Those who are determined not to spend their PPC will not only receive most of new peercoin in the furture, they will eventually own most of PPC in the future (certainly more than 51%).
3) Those who spend the coins will own less and less percentage of the PPC money in the world. They may or may not be poor in term of purchase power, depending on how well the economy does. But in term how much PPC they own, those who have to spend will loose out slowly but surely. In this sense one can say the rich get richer and the poorer get poorer.

I agree that the POS miners should be compensated for keeping the network secure. But should they autmatically own the world eventually,  at not cost and no risk? This is a social question.

Then many have the question who are these poeple who could own the PPC economy? Will they be a few people that could be a weak link in the security of network? The answer appears to be no after some research. Since mint rate of POW is still about 40 times higher than POS now ( http://cryptometer.org/ppcoin_104_week_charts.html ), we are still quite some time away from the point when the POS money supply overwhelms POW money supply. Currenly the total POW minted coins is 2500 times more than that from POS. So there appears enough opportunity to allow spreaded ownership of PPC. Concentration of PPC ownership is probably no worse than POW coins. What I originally said in the last paragraph here was wrong.

I proposed a solution to this eventual problem here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106 , basically by eliminating the 30-day waiting period for discussion.

[jackyrozario]

PUMAgXmBCYX553JU1JRSYco5vSy4krxEjs


                  I Agree.

[claycoins]

good for early miners - week 33 - 17.8mil ppc.  week 59 - 20.4 mil ppc.

[TrippyPippy]

Agreed
PHrGAwGF2BYchTnNLTG3agBeMaxUj6Qh2K

[000518]

Agreed
PULeTevbE9EdtBm4PG5eu5ed4WEuMEfUeD

[maka]

Doesn't the same logic also apply to banking?  Rich people can save more money in banks so they got steady increase on their assets while poor people use up most of their money with little savings to generate new money.  Yet the bank system has been running for centuries.

I think in reality if PPC is to become a real currency people use to pay daily expenses, then [EDIT] in a percentage sense [/EDIT] not only the rich will get richer and poorer get poorer, but also that determined people who own most PPC will own most of the PPC in the world. I explained it here http://www.peercointalk.org/index.php?topic=152.msg4987#msg4987 and here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106.  I update it here again:

Given that
1) POS is generated only by stakes -- the ppercoins in a wallet that haven't moved in 30 days. If we consider compound interest, the POS income rate is slightly higher than 1% per year.
2) PPC are mostly minted by POW today but the goal is that eventually most of peercoins in the world are generated by POS.
3) There is no cap of the total amount of PPC, therefore, there is no limit in how many new POS peercoins will be created.
4) If PPC is to become a real currency which people use their PPC to pay daily expenses, the poorer people tend to have most of their PPCs in curculation, and the richer people can afford to side aside more PPCs as POS generating stakes. Just look around, the poorer poeple have less in their saving account.

We get:
1) Most of the peercoins in the world will go to the POS stake owners.
2) Those who are determined not to spend their PPC will not only receive most of new peercoin in the furture, they will eventually own most of PPC in the future (certainly more than 51%).
3) Those who spend the coins will own less and less percentage of the PPC money in the world. They may or may not be poor in term of purchase power, depending on how well the economy does. But in term how much PPC they own, those who have to spend will loose out slowly but surely. In this sense one can say the rich get richer and the poorer get poorer.

I agree that the POS miners should be compensated for keeping the network secure. But should they autmatically own the world eventually,  at not cost and no risk? This is a social question.

Then many have the question who are these poeple who could own the PPC economy? Will they be a few people that could be a weak link in the security of network? The answer appears to be no after some research. Since mint rate of POW is still about 40 times higher than POS now ( http://cryptometer.org/ppcoin_104_week_charts.html ), we are still quite some time away from the point when the POS money supply overwhelms POW money supply. Currenly the total POW minted coins is 2500 times more than that from POS. So there appears enough opportunity to allow spreaded ownership of PPC. Concentration of PPC ownership is probably no worse than POW coins. What I originally said in the last paragraph here was wrong.

I proposed a solution to this eventual problem here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106 , basically by eliminating the 30-day waiting period for discussion.

[mhps]

Doesn't the same logic also apply to banking?  Rich people can save more money in banks so they got steady increase on their assets while poor people use up most of their money with little savings to generate new money.  Yet the bank system has been running for centuries.

I am not saying it won't run, or necessaily wrong. I am saying POS, as it is implemented now, does not distribute POS reward evenly.

[Eli0t]

the rich miners with more equipment would get more PoS if they held but they tend to sell asap. most of the time PoS isnt worth anything to them but people who support the coin or cant mine much would tend to hold longer and get a nice PoS bonus for their dedication

PPi6JbX56uaPjUFgtmo4ZgGSkTjhZ7fUdM

[og kush420]

i am convinced peercoin should and will replace litecoin as the second most valuable crypto coin pretty soon. it is the only altcoin to offer anything signifigantly new or original... even primecoin isn't extremely original, and it is controlled by botnets so it isn't likely to face anything but a decrease in value

peercoin, or perhaps another proof of stake coin, (or even some other original and different coin) will replace litecoin in less than a year, maybe even early 2014. thats my hope, anyway, since i would hate to see bitcoin clones worth more than improved, original currencies.

[claycoins]

i am convinced peercoin should and will replace litecoin as the second most valuable crypto coin pretty soon. it is the only altcoin to offer anything signifigantly new or original... even primecoin isn't extremely original, and it is controlled by botnets so it isn't likely to face anything but a decrease in value

peercoin, or perhaps another proof of stake coin, (or even some other original and different coin) will replace litecoin in less than a year, maybe even early 2014. thats my hope, anyway, since i would hate to see bitcoin clones worth more than improved, original currencies.

it depends if you believe that POS is an improvement, sure it adds something different, but is it better?

[wonglinux]

Agree and thanks for the free coins

PRUeaVvLJVKkKSie8ZjPvkbdTyaXq4Vsdb

[teddyb797]

i am convinced peercoin should and will replace litecoin as the second most valuable crypto coin pretty soon. it is the only altcoin to offer anything signifigantly new or original... even primecoin isn't extremely original, and it is controlled by botnets so it isn't likely to face anything but a decrease in value

peercoin, or perhaps another proof of stake coin, (or even some other original and different coin) will replace litecoin in less than a year, maybe even early 2014. thats my hope, anyway, since i would hate to see bitcoin clones worth more than improved, original currencies.

it depends if you believe that POS is an improvement, sure it adds something different, but is it better?

It Is

pos can be use as security feature for starter.
with enough demand (we need very huge demand for this to happen) of ppc, it can go pure pos. fraction of the cost of bitcoin to maintain the network, and keep it alive.

i also believe that ppc will soon take the second spot.

[og kush420]

i am convinced peercoin should and will replace litecoin as the second most valuable crypto coin pretty soon. it is the only altcoin to offer anything signifigantly new or original... even primecoin isn't extremely original, and it is controlled by botnets so it isn't likely to face anything but a decrease in value

peercoin, or perhaps another proof of stake coin, (or even some other original and different coin) will replace litecoin in less than a year, maybe even early 2014. thats my hope, anyway, since i would hate to see bitcoin clones worth more than improved, original currencies.

it depends if you believe that POS is an improvement, sure it adds something different, but is it better?

even if its not... at least it is original and different, i would prefer a coin that worked very badly that had a new original idea, over a generic clone that has no unique properties

also... its hard to define improvement... its a relative term.. perhaps it was not a good choice of words

but in one way, at least, it is definitely better: the environment. not wasting as much electricity as POS. there may be other improvements, but like i said, there are too many generic c+p alt coins, we need something new and original and peercoin is the lead contender IMO. if something better comes out, i will support it more. but for now, i see no alt-coins as original in design.

[umairsaleem]

PHmT171bXpHsrUcEUKoxmp65S6giUsZxXy

agree and thanks

[PeercoinEnthusiast]

Discussion Question 2:

"About how many more weeks until PPC v0.4 comes out? What will be the new features? (Alertness)"


Sunny's Answer:

"Merge with bitcoin v0.8 is more work then I thought. Meanwhile I am evaluating whether to provide the cold-locked transaction feature in v0.4, as it has become a higher priority item. But v0.4 would get most bitcoin v0.8 features for sure. I think it's at least still several weeks away. "

What features would you like to see in an upcoming release of Peercoin?

First 5 people to most a meaningful response gets 1 PPC.

SENT

1. Snail21
2. Jimmy
3. mhps
4. galbros
5. 5Dzz

------------------------------------------------------------------------------------------------------------------------

Discussion Question 1:

SENT

1. Viscera
2. belltown
3. wachtwoord
4. hellscabane
5. pmconrad
6. Digicoiner
7. cc5alive
8. KrLos
9. flound1129
10. artiface
11. snail21
12. Lederstrumf
13. Eliot
14. mhps
15. *

[Snail21]

As zerocoin is still in alpha maybe some I2P or tor functions would be useful.

PT6fFzE265RbpszmxDVekqVgDd82AfUVCr

Edit:

PPC is actually a pretty good coin, so I can't see too much room for improvements at its current use. Maybe some preparation for the future could be nice, e.g. implementing colored coins and mastercoin like features for creating a lower, medium and higher value - like PPC-gold, PPC-silver and PPC-copper - coin family on the same blockchain... plus a distributed exchange for exchanging all of these coins.

Edit 2: Oh yes... and services, more services and further services .

[more]

PPiWH7eNszwPT3QwhchQ4hwPUSSqT9kzk6

Thanks

[PeercoinEnthusiast]

PPiWH7eNszwPT3QwhchQ4hwPUSSqT9kzk6

Thanks

Please read first post.

[Jimmy2011]

Stratum support is a must in V0.4. As more and more people come into ppc, and more and more retired ASIC equipment come into here and have a try this "new" "innovative" coin, stratum support is in the top priority so the miners can mine it and more pools can be built. More pools is beneficial for the promoting peercoin.

In addition, a detailed peercoin specification is necessary. So many people can't fully understand its virtue, so it should be explained carefully and the wiki should be done.

[mhps]

I would like to have coin control -- being able to control which coins to send, and to get coinage information.
I hope "merge with btc v0.8" means that v0.4 have all the features that the latest btc wallet v0.8 has.

[galbros]

Well you really need a mobile wallet.  PPC still doesn't even have a good OS X wallet yet .  While those users may be few in number and I realize these are not wallet features, this hurts PPC.

Imagine giving PPC away at the Star Trek convention and letting people load it right onto their smartphones and then have someone right there willing to pay them cash for it, even if nobody took them up on it, it would send a powerful message about PPCs viability.

Good Luck!

No idea if this is what you were looking for but...

PTKz2PmBHYm8cRRiZKLG9T5QGBRi8bTdGv

Thanks all the same, I'm rooting for PPC!

Edit: Coin received, THANK YOU and Go, Go, Go PPC!

[5Dzz]

A Qt auto update feature could be useful. Have it so it could be optionally turned on and off.
Some people I've spoken to about alt coins seem confused or lack the knowledge to update the software, so it might be helpful to them.


PBoxcb67mNtg8oWKzAEcszHX8NQgvQQ9ri

[PeercoinEnthusiast]

Well you really need a mobile wallet.  PPC still doesn't even have a good OS X wallet yet .  While those users may be few in number and I realize these are not wallet features, this hurts PPC.

Imagine giving PPC away at the Star Trek convention and letting people load it right onto their smartphones and then have someone right there willing to pay them cash for it, even if nobody took them up on it, it would send a powerful message about PPCs viability.

Good Luck!

No idea if this is what you were looking for but...

PTKz2PmBHYm8cRRiZKLG9T5QGBRi8bTdGv

Thanks all the same, I'm rooting for PPC!

Great information! Mobile wallet will be ready before the event, that's something we'll be shifting to as a community shortly. Already have funds lined up to add some encouragement.

[Snail21]

Stratum support is a must in V0.4. As more and more people come into ppc, and more and more retired ASIC equipment come into here and have a try this "new" "innovative" coin, stratum support is in the top priority so the miners can mine it and more pools can be built. More pools is beneficial for the promoting peercoin.

In addition, a detailed peercoin specification is necessary. So many people can't fully understand its virtue, so it should be explained carefully and the wiki should be done.

There's a lot of detailed how-to on http://www.peercointalk.org. (I've just discovered yesterday .)

[bobbahope]

PHFfBuBA1W2D8hxeSNqfCw2hpPqNbnMWBy


Regarding new features, A possible interesting feature could be a built-in messaging system by which you could write a message to the block chain or send a message to another address. A recent coin Neocoin was built around the idea, but it hasn't gotten anywhere. If such a feature could be added to PPC it would be useful, especially for online retailers.

A second point, I think a bounty should be setup to encourage a Bitpay type service for PPC. Perhaps not for big businesses yet, but if one were setup for small businesses, it could really help with PPC's popularity.

[MisO69]

PRrzy22FpWdAN67hNjCa4atXjQsU3NpkyV

Anyone mining should have equal opportunity to mint PoS blocks. I don't believe in giving the rich anymore perks than they already have.

[iamcuan]

PFYnJ6RgXuDSkiCX3TJLuEksdH32XSPZrx
Thanks buddy.

[PeercoinEnthusiast]

Will offer the next batch of coins on Nov 8th and a new q/a from Sunny King.

[jeniferqueen0409]

PRuvX3di5KamcwL4tLaZBQQNYxBYyTKjkn
Thanks!

[bitwarrior]

PAB2Xt9Zh91Tk6dcRjvrZsnPtDJMhnQ7Ub

thanks

[mhps]

Will update the next batch of coins later tonight and a new q/a from Sunny King.

Thanks. Received my 1PPC for the 1st batch.

[muto]

...

Great information! Mobile wallet will be ready before the event, that's something we'll be shifting to as a community shortly. Already have funds lined up to add some encouragement.

Looking forward to tat, please keep us updated!

[JessicaSe]

PGt21ixJLRzaHZ3k8RmEwttvGQAGJukcgz

Tq

[mert1337]

PVNTm3hKDDgYvduYZ8Jj5hhu3DmvU2QAqo

Thank you.
PPC is the futures coin i think.

[liexel]

PT3j8i7EUdD6BN7qdksMbcJ4LHkeD67LQW

thank you!

[cassimares]

PB2vFgjQi1W9EFLMkxqj9tGuAg9xiQ6bVm

Tq

[petersiddle98]

PEH6VFtE1CaLuCWZ3YCvsodKXno9bkL63m

Tq

[Bitcoin!]

PMjLAtHKxwBTo4REhB2XmnS9Dabn4N9DMy

Thanks!

[Ruzka]

Thanks!
PVQqGkTrkGTJ58P46kV6FsPn55ZNRWvMiH

[viboracecata]

online wallet will brought PPC to the future, to hold a local wallet is so boring.

PHMDnZKTr4e5JCPQvSp923qSxWDj1G7Yfh

thx.

[leannemckim46]

PJcwapgKp7qjLDTMBQwwrsLLf9rqmhGTDn

Thanks...

[aldrin]

PKtJGGe29tF9Xn39cF5qgZ5GEHP3tKehoF

POS is better than POW. It obviously favors those with bigger stakes. So what, it's still better than POW - that favors ASIC insanity!

[kylie.v]

Agree!

PENa7J9ZtDTLLbnPaDkWPp5kRoL3uERkp1

Thanks

[MelodyRowell]

PPDFaHn8b3Fg9hMdFdP5vK7K8NsGkTgQst

Tq

[waltermot321]

PCsszTVWJUNLE9kAq3zRJoRtUKgtT7JLnk

Tq

[Kimowa]

PCsrqLLV1pX9xQAvCMwr6vbdYEwynEihpz

Tq

[Nixzor]

PLS8WqEu7Fff5QTr1gX5jGUmpM8nbkrNu1
thanks

[PeercoinEnthusiast]

Coins updated, new coins will be available with the next q/a.

[Exocyst]

Neither the rich nor poor are getting richer with proof-of-stake—PPCoin is an inflationary currency. Some people are losing due to inflation, though—those who are not minting with their coins (such as, cryptocurrency traders holding coins in online wallets).

PWDBH1BcbEEo5B3Ed5f4smoj7eZpgNspWb

Edit: Sorry I answered an old question.

[Kimowa]

PS4QNQejRQ1JgR2Nm61EvxVFGFoMDP7LTQ

Tq

[Sythyn]

P9TK2SeW92xqqrkocx2H9k2Fdx8QahwNzn

Tq

[Klubknuckle]

PPiWiveKwgxaknU5pD7mEC7CZ4UKoEE4WP

TQ

[SquallLeonhart]

PBqMGHo3ENuTgVp9CBFxswchCq4nJ32XsY

Tq

[Emzor]

PWz8G3WDMrSC9UvC7mcA2XkkxpYLYyrHy1

Thanks !

Im mining with erupters @ d7

[Zawamiya]

PJFcjHsa7Ln5Ck12yrgqwHLLV6vwvbtCzk

Tq

[Gorgoy]

I think "the rich get richer and the poor get poorer" is stupid ideological nonsense in the first place. In a pure PoW coin, the rich get richer too. Or do you think the poor can afford high-end mining hardware?

In addition to what belltown has said I'd like to point out that PoS most likely makes a coin more stable than PoW with a hard cap on coin supply. Cryptocoins, like "real" money, get lost (in the sense that once a private key is lost the coins belonging to its address are effectively removed from the market). Therefore, pure PoW coins with a hard cap on coin supply effectively suffer from deflation. This is countered by PoS minting.

PJe3dhXv4hBwtCSf6PSf9i68Hf3uqdTAyd

I absolutely agree, Miners are not poor, at the current hashrate do you think  poor person with a slow CPU could mine anything? Where is the democracy in that? POS is fair and I like it. I do not own much PPC but I agree with the concept and POS. Is you have people holding onto the coin, it gives the coin value, they believe in it and are holding it. They are also proving block chain work with POS so are making the network much more stable and safe, they deserve to get some coin for the work that they provide and the total overall stability to the network that they provide.

[sdp]

It is impossible to favor the poor with out some kind of identity system for a rich person can simply spread his crypto-money amoung several wallet addresses and appear to be many poor people.  PoW favors those with more money much more so than PoS. 

The Bitcoiin economy is very deflationary right now, I think even as adoption levels out to whatever it will be: 3%, 30%, whatever.  There is a force driving up its price: new people joining the economy providing labor for fewer and fewer bitcoins.

[Jimmy2011]

Thanks.
Received my 1PPC for the 2nd batch.

[TheDragonSlayer]

PT6sfHtQTPN7PSPNxT6pg6TBW6ypTVZ3Ab

TQ

[JessicaSe]

PEMnkKxHgD39EL68ghLnxVwM4D53JGeUnW

Tq

[BitcoinHeroes]

PJn7YpYwbqAcKtjM96uxoMr9HPL1wvA1PQ

Tq

[Muddied.info]

PS44s9hzGdhBVX98gpKfcTruZLFMGJgztR

 

[beegatewood]

PAdxSoqwM4qtKhTcQ9kASJTE3AJZE879U2

TQ

[n00ber]

PRTxr42wySuahddDNQcXNv2F4NMsVfwEbn

thanks

[miffman]

PSxDTJR7xvZVNixbSVwm2b6aXuczvZL7PG

ty 

[ScryptAsic]

PNmBgV9zxz6KG982FptqzbsvQ6kpQSiJpo

Thanks...

[Gumbork]

PGnBZ7C6xQB12YAQnVYtVNw7R2xR1RshKe

TQ

[infoporter]

PHSU9vrscxTpAVusMiKfpBZ7BLtor2syso

[portice]

PAbUUSGdFK3cbGL2rNkNS7KXzbBVSoCVjD

[masterOfDisaster]

May it be the case that some didn't read the initial post in this thread (what in general can be a good idea, and definitely is in this case)?
For convenience: https://bitcointalk.org/index.php?topic=322051.msg3448964#msg3448964

And for even more convenience:

[...]
November 2nd - Discussion Question 2 [CLOSED]

First 5 meaningful responses get 1 Free PPC
[...]
October 31st - Discussion Question 1 [CLOSED]

To encourage participation, the first 15 meaningful responses (agree or disagree) gets a free PPC.
[...]

And as there has no new discussion started yet, you might save your time and your wallet addresses for later.
...I doubt it is conidered meaningful posting barely more than an address

[thew3apon]

PFg5EFp7jzKy6GM18AfCLYCTWehHnJKxJ9

Tq

[masterOfDisaster]

lol

[wunkbone]

PXqiVyfsSNhTizgcjiF4WPBJFAStNYh1GR

TQ

[johncarpe64]

PPDVMKzKSktGpRKPDZnzNPw82uvzqUdZGg

TQ

[SquallLeonhart]

PXroy5R6oK79fFwaRGdHvNs7SrRRxGXQU1

TQ

[Golph]

PC2WgHSuKR8oaeemF4P54UCLW8ibfaQSDp

TQ

[OneMoreHuman]

http://cdn.meme.li/i/pak0p.jpg
PWsieDv55YbVpR8dpU96EQPx5RQsNWYh3t

[clout]

I don't agree with this at all. We need to understand that these networks and the protocols represent real world phenomena. In respect to bitcoin, the network is a virtual representation of the gold mining process. Gold mining in the context of the gold rushes in America, just like bitcoin mining when the software first came out, was a very democratic process in which almost anyone could attempt to search for gold. As the more easily reachable gold became collected it meant that miners needed more expensive equipment to acquire the gold beneath the earths surface. This transition lends itself to the monopolization of gold mining, in the same way that there is a monopoly in the bitcoin mining today. There are two mining pools that already comprise more than 50% of the network hashrate. This does not augur well for the security of the network, which is why I am more of a proponent of the ppc network.

Looking at peercoin we also see a similar phenomena of unfairness, as the network ostensibly stands as a virtual representation of our current economic system. The network protocol uses POS to both encourage saving while simultaneously encouraging spending through the 1% inflation. If our societies, particularly developed nations such as the US where economic systems of this sort have traditionally been implemented, are becoming more an more stratified through these systems, what would make someone think that in the virtual realm this phenomena would not also hold true?

With these network protocols we have the means by which to implement fully automated economics systems that achieve the re distributive properties that are attempted through taxation and welfare. Perhaps if coin age and the number of coins saved did not equally factor into stake, there would be a more equitable system.  

[Feneusens]

PTtMMWWmeRGrV3zKAAiZAcqeUMnfEHKJFH

TQ

[Omikifuse]

PLqozZmEHjbVKF4mKGsWqMxMG2VgWoc8ak

TQ

[Corenin]

P9HCGCko7t92yazv6QwDYMBdJDrpLw6hHd

TQ

[True___Blue]

Has anyone released a Peercoin QT that makes minting easy? I'm still confused how to mint and how to tell if my PC is minting.

[hl5460]

Has anyone released a Peercoin QT that makes minting easy? I'm still confused how to mint and how to tell if my PC is minting.

I believe that Sunny is working hard on PPC QT 0.4 ATM.
However the following tutorial might help you get PoS coins:

https://bitcointalk.org/index.php?topic=187714.0

[Thenen]

PSsKUWniyCLqYdk7Mhr8MfcpVbSDKMyhUP

TQ

[CaribbeanBitcoin]

PLuyeRfWb72FP9UwerdDXTN2AiNmB7FqVU

Thank you! 

[Sythyn]

1JSDfT2An7xv6Xpjc7FFQaLBXkNjwxctQC

TQ

[jago25_98]

PPCoin and Prime coin. Great to see. Sunny King is definitely the best dev out there in altcoin land.

Well... really, stating the obvious, it would be nice PPCoin used the same proof-of-work aspect as PrimeCoin. It would be nice to see an altcoin combining all the progress of other projects.

You could also build each network node as proof. In fact, could merged mined proof of work be used to boot strap a protocol and then gradual switch to proof-of-stake and network node proof (quorum)?

In terms of immediate PPCoin direction there are a few things that would get the attention a lot more. None are particularly low hanging fruit but SunnyKing is quite the developer!

- multisig. If you could beat Bitcoin to a enduser implementation that would get a lot of attention
- reducing blockchain size. Again, this could get a lot of attention if marketed right.
- transition to even less dependence on proof of work. I don't think this would get as much attention but it would be interesting.
- a very light wallet implementation, command line on your Raspberry Pi, or VPS


The obligatory begging address!
PSJ4WkbKeRGJW1qFqUJTgdpHCsTyZ7aSSb

[MilesJohan]

i685aSsMToYGSJPtfBvFDSk8c7hjCcVGrJ

Thanks..

[Johanna]

1FG655kcR4Gx8cuCUzc1asip3pLB8yKXU4

TQ

[Feneusens]

1BZ9eqQJBrRRMoL44uhE4gWhgfLPcYzp8G

thx

[chaosknight]

oHDzHiNDyEiV5jhHxAAnQW2ynW5Ensn42N

Thanks..

[digit]

PeerCoin based securities can now be created at CryptoTrade.  Link in my signature  

[Undefeatable]

iBU1j1P6R8cb5ers4muscXxTsBH4pZ1Gt2

Thanks

[MarketTime]

iJfcmJr8xTfB2FHrVr52HXWMXgisenAZG7

Thanks..

[whitemage]

iBQ2JagSt5M1PYGiePE2d9HkyxmEE3sNG6

Thankss

[-Flux-]

Late to this party and new to cryptocurrencies.  Just took two cryptography courses and find them to be fascinating.  Good luck to PeerCoin!  The concept is sound and it should prove to be one of the better cryptocurrency options.  Cheers!

-Flux-
PH3mVEGpjVuKyAAGHeSsbrkSXkbuzn1RXD

[coinbitty]

Feeeed Meeee 

PBSpto5ZC7ng2A4Q7NcaGhGB8njgHKj2vg

[kelly153]

 

PQ1nCtjv1KrhYHV48nXYeuE21GHqYdCsiV

Thanks

[liexel]

PT3j8i7EUdD6BN7qdksMbcJ4LHkeD67LQW

please, thank you!