[PPC] Peercoin - Indicium Logo & PeerAssets Diagram Released

[porcupine87]

From my perspective, this NuBits thing is simply too complicated and 'blessed' with the need for human interference. I wish them best.

hm, and Bitcoin is not complicated?

It is, and now imagine with ^2 on top.

But if the idea is sound and the execution sufficient, I will learn eventually 

I don't see much difference. If you understand Bitcoin it is not too complicated for that person to understand Nu. A person who knows about Bitcoin has the technical abilities to understand Nu easily. But for others? They don't understand how the internet works neither but they use it.

[ThomasVeil]

All in all, much simpler CoinoUSD seems to be much more viable to me.

Glad I'm not the only one thinking this.

If I had the option between decentralized pegged USD and centralized, then I would 100% go for the former.
But let's get real: BitUSD has a developer that can just turn off the market and change the code around. Then hides that behind complex and fragile constructions of unreliable collateral and trust in some delegates. NuBits doesn't seem all that different ... so it's "custodians" now instead of "delegates"?

CoinoUSD are centralized, and open about it - thus more understandable and reliable.

[masterOfDisaster]

All in all, much simpler CoinoUSD seems to be much more viable to me.

[...]
CoinoUSD are centralized, and open about it - thus more understandable and reliable.

Being centralized and open about it (being open about it is an important aspect!) may lead to a better understanding.

But I don't understand how something centralized is expected to be necessarily more reliable than something decentralized.
How do you prevent someone with bad intentions (bad guys, blackmailers, people with an own agenda, competitors with power, etc.) from attacking the central point?

[Sentinelrv]

Here is an excellent post on how NuBits helps Peercoin...

http://www.reddit.com/r/peercoin/comments/2hb4cn/why_the_revolution_devours_its_children_is_not/

Plus this quote in case anyone missed it...

Peercoin holds a very important role in the design of NuBits. It is the incentive to build a better and stronger Nu Network. If Peercoin is not doing well then NuShare holders will lose out on their own incentive.

This will in time prove to be a beneficial symbiotic relationship between the coins. Improving the usability and utility of Peercoin is good for the NuShares holders as well.

[ThomasVeil]

[...]
CoinoUSD are centralized, and open about it - thus more understandable and reliable.

Being centralized and open about it (being open about it is an important aspect!) may lead to a better understanding.

But I don't understand how something centralized is expected to be necessarily more reliable than something decentralized.
How do you prevent someone with bad intentions (bad guys, blackmailers, people with an own agenda, competitors with power, etc.) from attacking the central point?

That's what I tried to say: A properly decentralized USD peg would be best. It's still a risk, especially with these unpredictable financial construction, but the trade-off is worth it.
It's this kinda fake-decentralization that is more dangerous. The attack vectors are more hidden (exist though), and there will be no single entity taking responsibility.

[masterOfDisaster]

That's what I tried to say: A properly decentralized USD peg would be best. It's still a risk, especially with these unpredictable financial construction, but the trade-off is worth it.
It's this kinda fake-decentralization that is more dangerous. The attack vectors are more hidden (exist though), and there will be no single entity taking responsibility.

If you are talking about the NuShares implementation when saying fake-decentralization, I can't follow. What part of it is fake-decentralized? The NuShares are distributed. They are not in the hands of one single entity. This is what I'd call decentralized. One may argue about the degree of decentralization. It will for sure be more decentralized once the early days of Nu are over and the NuShares are wider spread, but I can't call them centralized - not even now.

...you are saying it yourself: "there will be no single entity...".
But responsibility will be taken: by the NuShares holders. If Nu fails they lose their investment. They are responsible for the benefit of Nu.

[river333]

Hey everyone,

The Peercoin community has been running a project for a while now that tips people for setting up Peercoin nodes on a Raspberry Pi. Today we reached the milestone of 50 new nodes!

The project is mostly just for encouraging the use of Peercoin on Raspberry Pi, as well as showcasing some of the benefits of Proof of Stake. And obviously it is also nice to have lots of new nodes on the network distributing the blockchain 

If you have a Raspberry Pi and would like to get 10 PPC just for setting up a node, head over to the thread on PeercoinTalk. There are guides to help you out if you're not an expert, and feel free to ask any questions here.

Cheers

[jontrue]

my wallet PPCoin doesnt sync...., addnode ?

any solution?

[masterOfDisaster]

What version do you use (here's some choice: http://peercoin.net/wallet)?
What operating system are you on?
Have you checked firewall settings?
Here are some nodes that are currently connected to one of my wallets:

Code:

addnode=77.57.212.33:9901
addnode=62.207.0.49:9901
addnode=176.9.138.113:9901
addnode=78.46.41.178:9901
addnode=71.211.131.57:9901
addnode=24.64.97.145:9901
addnode=91.64.26.77:9901
addnode=173.255.211.166:9901

You can try to put these lines in your "ppcoin.conf" file (only works if they are still on when you try it with them). Depending on your operating system it can be found at different places.
MacOS (folder might be hidden):
~/Library/Application\ Support/PPCoin/

Windows:
%appdata%\PPCoin

Linux
~/.ppcoin

[canary]

Here is an excellent post on how NuBits helps Peercoin...

http://www.reddit.com/r/peercoin/comments/2hb4cn/why_the_revolution_devours_its_children_is_not/

Plus this quote in case anyone missed it...

Peercoin holds a very important role in the design of NuBits. It is the incentive to build a better and stronger Nu Network. If Peercoin is not doing well then NuShare holders will lose out on their own incentive.

This will in time prove to be a beneficial symbiotic relationship between the coins. Improving the usability and utility of Peercoin is good for the NuShares holders as well.

Thank you for this motivator article, hope to see these predictions about Peercoin becomes real soon!

[LifeDies]

Nushares is a very interesting compliment to Peercoin.

[masterOfDisaster]

How Sunny King perceives Nu ("...the first major DAC project in peercoin ecosystem..."):

Have a look here:
http://www.peercointalk.org/index.php?topic=3440.msg33283#msg33283

or here:
https://bitcointalk.org/index.php?topic=114994.msg9032957#msg9032957

[Sentinelrv]

How Sunny King perceives Nu ("...the first major DAC project in peercoin ecosystem..."):

Have a look here:
http://www.peercointalk.org/index.php?topic=3440.msg33283#msg33283

or here:
https://bitcointalk.org/index.php?topic=114994.msg9032957#msg9032957

Yes, here is the whole quote...

Weekly Update #110

• NuBits project (http://nubits.com/) is now released by Jordan and NuBits team. NuBits is a first implementation of Peershares, utilizing its share and dividend system. NuBits introduces fiat equivalent currency unit, pegged via share holder voting and interest system, with high degree of decentralization. Compared to centralized bank notes, such as exchange fiat balance, it has much better decentralization and privacy property. In my opinion, NuBits is a highly interesting experiment in the cryptocurrency field, providing a class of digital currency with differing set of properties from centralized notes and cryptocurrencies.
• Congratulations to NuBits team on completing the first major DAC project in Peercoin ecosystem!

Have fun!

[masterOfDisaster]

...the quote is correct, but the link is wrong...
Seems that you mixed up the bitcointalk and peercoin talk addresses and the topics/messages

[TinEye]

That's what I tried to say: A properly decentralized USD peg would be best. It's still a risk, especially with these unpredictable financial construction, but the trade-off is worth it.
It's this kinda fake-decentralization that is more dangerous. The attack vectors are more hidden (exist though), and there will be no single entity taking responsibility.

If you are talking about the NuShares implementation when saying fake-decentralization, I can't follow. What part of it is fake-decentralized? The NuShares are distributed. They are not in the hands of one single entity. This is what I'd call decentralized. One may argue about the degree of decentralization. It will for sure be more decentralized once the early days of Nu are over and the NuShares are wider spread, but I can't call them centralized - not even now.

...you are saying it yourself: "there will be no single entity...".
But responsibility will be taken: by the NuShares holders. If Nu fails they lose their investment. They are responsible for the benefit of Nu.

Its anything but decentralized. Selling in lots to your own group buddies is centralization.

[masterOfDisaster]

Its anything but decentralized. Selling in lots to your own group buddies is centralization.

There is no centralized entity of "group buddies".
You can expect the people who hold NuShares to be from all over the world. And you can very well expect the NuShares to be traded, once the system is established. And even now the NuShares are distributed to more and more people with each day that goes by.
So it already gets more and more decentralized each day.
Until now it's an amazing experiment and the "group buddies" pay the bill, if all blows up.
You can very well send a message to Jordan, if you think you can contribute to the success of Nu. You'll find his Bitmessage address in this post: http://discuss.nubits.com/t/undistributed-nushares/125

It shouldn't be too hard to understand that protecting this experiment against malevolent behaviour in its early days is necessary.
It would be just too cheap to kill it by intentionally giving bad votes.
As you might be aware - NuShares holders decide which way the system goes by voting.

You say this is centralized?
What do you think of other cryptos where you can't influence the direction by voting?
What do you think of the financial and geographical centralization of PoW coins?
What do you think of foundations determining what is good and what is bad without having anything at stake?

There might be a lot to do until the Nu ecosystem runs well. But centralization is one of the lesser problems.
Nu might not be perfectly decentralized, but more than most other crypto coin related stuff around us...

[coin@coin]

Great new thread! Looking forward to more activity on Peercoin, one of the first cryptocurrencies in the world and the first with POS

[arieq]

There's shaken confidence in ppc right now and the fact that nubits has to be utilized for PPC to have real value. also consumers don't want to pay high ppc prices so nushare holders get better prices.

[masterOfDisaster]

There's shaken confidence in ppc right now and the fact that nubits has to be utilized for PPC to have real value. also consumers don't want to pay high ppc prices so nushare holders get better prices.

The real value of Peercoin lies in its design, being highly sustainable and secure with little costs.
Nu might be not the last to rely on Peercoin's design...

But I don't get what you mean by saying "consumers don't want to pay high ppc prices so nushare holders get better prices."
Can you please explain that?
If this is about the dividend payment (of NuShares) in PPC, then you are putting the cart before the horse. NuShares holders might profit from rising PPC prices. But the rise of those prices is simply determined by supply and demand. For sure consumers have no incentive to raise prices in terms of satisfying NuShares holders; so don't buy PPC if you don't want them

...others might say: buy them as long as they are still cheap.
But as I'm neither qualified to give "investment" advice nor I'm willing to do so, I just say: we'll see!

[TinEye]

Its anything but decentralized. Selling in lots to your own group buddies is centralization.

There is no centralized entity of "group buddies".

Thats what he is doing. Selling in 5m lots behind doors to all those who convince him. Sounds like an elaborate keep it in his own hands scheme.

If he really wants a decentralized, put it on exchanges and let the normal market take over.