Which high-quality minority coins are likely to break through and become mainstream cryptocurrencies?

Which high-quality minority coins are likely to break through and become mainstream cryptocurrencies?
The veterans who often visit the currency forum may have heard a sentence: long bitcoin, short all the alts. The meaning is obvious, the status of Bitcoin is almost unshakable, but the mainstream currency has changed from wave to wave.
Blackcoin, Futurecoin, and PPcoin that were hot in the early years have now been thrown out of the mainstream currency rankings, and almost no one cares. According to coinmarketcap data, only Litecoin, Dogecoin and Ripple in the top ten market capitalization list survived and are temporarily among the mainstream coins.
The picture shows the cryptocurrency quotation of an exchange in 2014. In 2017, the exchange suspended its services.
After experiencing generations of cryptocurrency, what would replace the present-time mainstream cryptocurrency?
The data above is the top 20 in the global market capitalization so far, and the data comes from coinmarketcap. We can see that bitcoin is still at the top of the ranking, and there are many new faces in the ranking after 2017.
From the perspective of the number of cryptocurrency types, platform coins for 15%, Bitcoin and its fork for 15%, digital cross-chain assets and platforms for 35%, stablecoins for 10%, and the remaining digital payment for 25%. Of course, this kind of statistics is not scientific, because the statistics are only based on the number of rankings, without taking into account the weighted impact of market value, but we can still glimpse the market trend of cryptocurrencies in recent years.
The earliest cryptocurrencies are not as complicated as they are today. They are just a cryptocurrency and have no other role than payment. Through the latest cryptocurrency rankings, we can understand that cryptocurrencies are moving towards diversification.
Since the cryptocurrency broke out in 2017, we have heard countless concepts: cross-chain, decentralized operating system, decentralized Internet, DEFI, DAO... Some of these concepts have evolved into reality, some concepts are on the way to becoming a reality.
We can say that 2018 is a watershed moment for this industry. Cryptocurrencies have stepped out of the pure P2P payment field and are moving towards a diversified ecological development.
So, back to the topic, what is diversification, how do we judge whether a digital currency has the conditions to enter the mainstream currency?
I think that the basis for judgment is very simple. The following points are for your reference:
First, the distribution process needs to be transparent and fair. If there is an institutional investment, can the organization's bargaining cost and time cost adapt to the project development, and how can the organization be prevented from cashing out in a short time? If there is no institutional investment, is the amount of pre-mining of the project reasonable, or is it fair to users holding currency?
Second, whether the project has market demand for corresponding industry solutions. Not all industries in this world need blockchain. Recognizing the reality that blockchain is not a panacea is the primary condition for entering the cryptocurrency market.
The third point is whether the project has a certain foundation. The foundation here includes two aspects: community foundation and cardinal basis. It is recommended to identify the project from these two aspects.
I have been observing the digital currency market for a long time. Among them, a mining currency ETX (Ethereumx·NET) with a POW+DPOS proof mechanism has attracted my attention. After understanding that the currency is not pre-mined, the distribution mechanism is very fair.
In addition, there is an optional anonymous transfer mode, which protects the privacy of users to a greater extent than ETH. On this basis, you can also undertake ETH dually: undertake ETH2.0 elimination of computing power; seamlessly transplant all application ecology of ETH. The most remarkable thing is its dual economic model of POW+DPOS, which locks a certain circulation and distributes newly-produced coins fairly, stably increasing the value.
Cryptocurrency is a thriving world, but it is also a dangerous world. Welcome to follow me and explore potential projects. There are risks in the market, so you need to be cautious when entering the market.
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Found an old wallet.dat. What are the chances of anything being in it?

I was thinking of formatting my macbook and decided to search for wallet.dat's in case there's anything of value here that I forgot about.
Looks like back in 2013 I went through a bit of an experimental phase with cryptos:
/Users/john/Library/Application Support/Bitcoin/testnet3/wallet.dat /Users/john/Library/Application Support/Bitcoin/wallet.dat /Users/john/Library/Application Support/Feathercoin/wallet.dat /Users/john/Library/Application Support/Litecoin/wallet.dat /Users/john/Library/Application Support/PPCoin/wallet.dat 
Some look empty but Litecoin's wallet is 66KB.
Also in the same folder was this rather large debug log:
It looks like I was just downloading the block chain but I'm wondering if anyone who is more familiar with Litecoin sees anything of interest in there?
Is it worth trying to recover? How difficult is this process? Is wallet.dat still compatible with the latest version of Litecoin?
submitted by johnprime to litecoin [link] [comments]

Coin-a-'Week': Peercoin (PPC)

Coin-a-Day Jan 3rd
Well, it's been more than a month since my last post, so I figured it's time to finally do this. I'm barely updating these, but I think it's somewhat interesting to see the changes that have happened over the almost half a year since I first wrote these.
Welcome to the third Coin-a-DayCoin-a-Week post! So far in this series we have talked about bitcoinbitcoin and dogecoindogecoin, which are proof-of-work coins. Today's coin is Peercoin (PPC), which is a "proof-of-stake" coin (actually a hybrid; more below).
• ~22 million available currently [1]; ~35 million in 2025, ~50 million in 2045, 1% annual inflation permanently [2]
• All-time high: ~$7 [3]
• Current price: ~$0.50; ~0.0017 BTC$0.30; 0.00128 BTC [1]
• Current market cap: ~$10.9 million $6.6 million [1]
• Block rate (average): 10 minutes [4]
• Transaction rate: 520 408 transactions in the last 24 hours, estimated ~$213,000 $83,600 [5]
• Transaction limit (currently): 7 transactions / second (?) [6]
• Transaction cost: Fixed at 0.01 PPC edit: per Kb [2]
• Rich list: Top 100 addresses hold 59.25% 59.52% [5]
• Exchanges: BTC-E mostly; BTC38 (Chinese); some volume on Cryptsy, The Rock Trading, and BTER as well [7]
• Processing method: Hybrid; proof-of-work and proof-of-stake
• Distribution method: proof-of-work block rewards and 1% inflation through proof-of-stake
• Community: Moderately active. [8]
• Code / development: ; appears inactive, last release in April, last commit five months ago; however, developer Sunny King continues to give weekly updates and has announced an upcoming "cold-minting" feature [14] EDIT: Active pull request in progress. pull request; announcement; I was informed about this from the comment below; thanks Thireus !
Latest 0.5 version will be a mandatory upgrade with a two month release window. [15]
• Innovation or special value: First coin with proof-of-stake
So far we have covered two proof-of-work coins. This was the original type of coin. Peercoin introduced the concept of "proof-of-stake", where authority to generate a block was determined based on a brute-force hashing to reach a value less than a certain amount. In Peercoin's proof-of-staking, there is only one to check per unspent wallet-output per second, so there is very little demand for processing power and energy. The difficulty is decreased with increased coindays [9].
This model is argued by Peercoin supporters to be more efficient, since it obviates the need for a hardware arms-race and allows transaction processing by all stakeholders. The incentive for the stakeholders to "stake" (process transactions through proof-of-stake) is two-fold: first, in order to collect their 1% per coin-year reward, and second, to support the network they hold coins in, since the value of the coin is presumed to be related to the stability and reliability of its network.
There are a number of attacks which are argued to be possible in proof-of-stake which are not possible in proof-of-work [10]. There was a vulnerability which allowed generating a larger number of proof-of-stake blocks with a very small stake which took four months to close after public disclosure [11]. I wish I could provide a definitive answer about the security or vulnerability of this coin, but I am simply unaware of a good source at this point [12]. I have not found a "smoking gun" critique of the current system, but absence of proof, particularly when my "research" (googling) is so limited, and my exposure is so brief, is absolutely not to be taken for proof of absence. Today's challenge will focus on the security of Peercoin, and there will be a small reward for the best defense and the best critique.
Compared to the question of "is it secure?", I think the rest of the nuances like price history are relatively insignificant. In general, I expect that secure coins will continue to be transacted at some price level, and that they will often share a certain level of correlated price. Remember that I am not giving advice, but that's my take on it. So if there is no vulnerability to proof-of-stake, I expect it will continue to exist. And just as bitcoin has a strong place from being the first and having an active community, I expect that Peercoin would continue to have a place as the first proof-of-stake along with its smaller but also active community.
I had my concerns about the security resolved when this was posted. Like a whiny chump I'd gone through and deleted all of my stuff in a fit of pique, but the useful comments by TotalB00n are still there and may be useful reading.
The inactive development may not be an issue for now if there are no serious threats to Peercoin. Additionally, its blockchain is quite small, about 1/3rd of a Gigabyte currently[13], so the major feature of bitcoin's latest release, parallel block downloads, may be less relevant for peercoin.
[Note that the edit above on the code section is from the original time around. I'm too lazy to even look up whether or not there has been further development since, but it was at least somewhat active before, and perhaps didn't really need much.]
Peercoin's community on Reddit (/peercoin) is relatively small, with less than 4k subscribers and no more than a couple posts a day. However, it appears on-topic and high-quality. looks active and significant. It is not comparable in size to a central hub like bitcointalk, but it is by no means dead.
There are additional community links on which I haven't explored.
[3] I couldn't find anything just stating the number. And the UI here is terrible. But this approximately matches the coinmarketcap ATH in BTC with the BTC/USD at the time.
[4] ; I wasn't sure if this accounted for PoS accurately as well, but given the last few hours shown at it does appear to be close ; don't ask me how it works, haven't taken the time to grok the whitepaper in detail yet ([9])
[6] I wasn't able to find a source addressing this. I'm presuming that since it's based on bitcoin and has 10 minute blocks, that it also shares the 1 Mb blocksize limit and that transactions are about the same size and thus the same 7 transactions / second current limit applies. I could absolutely be wrong about this; if you know better, please let me know and I will update. Given that this allows 604,800 transactions per day, and there weren't 0.1% as many transactions in the last 24 hours, I think it's safe to say this isn't a limiting factor for peercoin in the foreseeable future.
[8] Not as active as doge or bitcoin, but it looks like there's activity on, and /peercoin is quiet but not dead.
[9] ; also available in many other languages (
[10] 110101002 makes allegations along these lines. However, none of the critiques seem to be relevant and aware of the current Peercoin code. The claim is made that it was made centralized but I'm not aware of a Peercoin source that seems to make this claim. There are probably far better critiques and defenses of the security of Peercoin's proof-of-stake out there. I don't know how to best find them. This will be the topic for the challenges for this article.
[11] disclosure; acknowledgement; fix
[12] I have heard claims about "nothing-at-stake" attacks, which are based on the idea that a user might have stake in the system, then get the stake back, sell it, and then try to make their own chain building off the point where they had stake. This seems conceivable to me, but I do not know anywhere near enough to be able to make a reasonable argument one way or another. Unfortunately, most of the discussions on Proof-of-Stake seem more about ... well, there's no way to phrase it politely, but they don't seem to be reasoned consideration of the merits but just static. - This is an example of a critique which is shot down. Is it valid? You decide. From reading their view of it, it sounds like not.
[14] I found this relatively late in my process glancing over /peercoin. The details of this feature will be considered out-of-scope for this article, already taking longer than I anticipated (as usual).
Additional Reading - main site; informative and useful links
/peercoin - somewhat quiet but still active and informative - Peercoin discussion thread
Peercoin whitepaper - (other languages available)
• - Main discussion forum
Daily challenge
~~Every day I post a challenge worth about $1. The first two day's are still unattempted. Yesterday's has been awarded.
Today's challenge focuses on Peercoin security. A changetip $0.50 tip will be awarded to the comment which in my opinion provides the best information about vulnerabilities in Peercoin's current consensus algorithm / implementation. This may be a link to a source that provides this information or a comment, but a comment referencing fixed problems or simply asserting issues without support will not be accepted as qualifying.
On the other side will be a 1 PPC reward sent to the Peercoin address of your choice for the best argument supported with evidence that Peercoin's consensus algorithm is not vulnerable to any attack. This is a very broad claim, and I wouldn't know how to support it myself, but that's why I'm throwing it out there for discussion.
Making an argument for both sides is allowed and encouraged.~~
[I don't remember if I ever paid up on this. I think I might owe TotalB00n a couple PPC...]
Donations and Disclosure
It has come time again for me to note that I am not an authority nor should my words be used for anything other than entertainment. I am not providing investment advice and you should do your own research independently before you make any investment decisions. Cryptocurrencies may lose all value from technical flaws or simply a loss of faith in their value. Store your treasures in heaven, not on earth nor even in a blockchain. Be gentle and loving in deed and in thought.
I currently hold about 17 PPC.
If you would like to donate PPC to me directly, you may do so at: PDcpAFGWEAJDTey6ghY4FRvvphXv9zkjmn
Thank you all for reading and all of your support! This has already been a great experience for me and I'm looking forward to the excitement still to come.
Well, it doesn't get much lazier than that. Apparently PPC has dropped in price rather significantly since January. I don't know any of the news on it. Informative, eh?
...okay, I'll do a mild amount of "research". One moment.
Well, they have a new release coming out. [15] But I don't see anything obvious from a quick glance at top stories in that subreddit over the past year to see why it crashed over the last five months.
So...hey, let's go really lazy. Rather than me giving you the answers, why don't you tell me wtf happened here? xD
Up next: Nyancoin!
submitted by coinaday to CryptoCurrency [link] [comments]

List of all crypto currencies that have ever existed

I've attempted to list all the crypto currencies ever, which took many hours and much searching. If I missed any, which I'll be extremely surprised if I didn't, please tell me and I'll add it to the list.
66 Coin
Amazon Coin
Bitcoin sCrypt
Copper Bars
Cryptographic Amomaly
Deutsche eMark
Electronic Benefit Transfer
Flappy coin
Florin coin
Geist Geld
Gold Coin
Gold Pressed Latinum
GPU Coin
Imperial Coin
Insanity Coin
Kimoto Gravity Well
Klingon Darsek
Lottery Tickets
Magic Internet Money
Mason Coin
Mint coin
MMM coin
No Coin
One last coin
PKR coin
Popular Coin
PyBy Coin
Quick Quick Coin
Rare Coin
Sauron Rings
SHIT coin
Sun Coin
UFC StarTrek
UFO coin
Union Coin
Yuan Bao Coin
submitted by turtlecane to dogecoin [link] [comments]

I rewrote the sidebar text

Markdown (source): First, Rev 1, Rev 2, Rev 3, Rev 4, Rev 5, Rev 6. Use RES or orangered me to get latest.
Changes (First->Latest): (excl. minor edits)
“third” to “fourth” “annum” to “year” Remove “to” Restore paragraph split Restore since it's back online Numbered list to bullet points Edit descriptions of exchanges Update link Add marketplace Clean up Link to Bitcoin, Litecoin, and Namecoin Wikipedia pages (last Rev 6 edit) Link to Proof-of-{Stake,Work} explanations Edit cointip text Change FAQ/wiki links Add example screenshots Remove until they come out of testing Add link to service list BTC-e now supports two-factor authentication Add Mt.Gox Add important facts link 
Screenshots: current sidebar vs suggested sidebar.
Comment with any suggestions or ideas you have.
PPCoin or Peercoin is the cryptocurrency with the fourth highest market cap after Bitcoin, Litecoin, and Namecoin. It is the first known iteration of a combined proof-of-stake/proof-of-work coin.
It is designed to be energy efficient in the long run, have a steady inflation rate of one percent per year, and (through proof-of-stake) be free of dependence on miners.
/PPCoin FAQ, wiki
Official website, FAQ, wiki
Wikipedia article
Important facts
Getting started
Walkthrough for Peercoin wallet setup faucet (free Peercoins)
PPCoinTalk marketplace
List of exchanges and other services
All support two-factor authentication.
USD converter (
Cryptocurrency value tracker (
Ticker for Chrome (Creator's announcement thread)
Ticker for Firefox (Creator on reddit)
Forums (alternative currencies section)
Related subreddits
BitcoinTip (Quick Start Guide)
BitcoinTip and ALTcoinTip enabled on /PPCoin.
submitted by AnonymousEntity to ppcoin [link] [comments]

An analysis of the state of ppc at the moment.

Disclaimer; Do not overly rely on the information below, a large part of this is speculation, and while I have done a bit of research I do not claim to be any kind of authority on PPC.
If you find any mistakes please inform me and I will attempt to fix them ASAP.
What ppc has going for it
  1. PPC is relatively fast compared to most other crypto currencies, and has a fixed transaction fee unlike other crypto currencies such as bitcoin.
  2. Is so far the only crypto coin built on the idea of proof of stake(yet).
    [Why should this matter?; In cryptocurrencies based of proof of work, things like confirmations(e.g; a lot of exchanges require 3 to ten confirmations before they accept your bitcoin) are done when blocks are mined, this is fine as long as blocks are being mined, but when an error occurs(like TRC yesterday) where a difficulty adjustment results in a large amount of the miners leaving, the currency grinds to a halt and no transactions can be completed. With proof of stake coins which have allready been mined carry out these functions, so ppcoin can continue to function even in the absence of miners.]
  3. Energy Efficency; This leads to Peer to Peer Coin's third advantage, not being dependent of miners like other crypto currencies PPcoin is free to be energy efficient.
    Explanation; Bitcoin miners are buying bigger and bigger machines and using more and more electricity to generate Bitcoins, while not too much of a problem on this scale if Bitcoin ever becomes as big and as accepted a means of payment as credit cards or paypal the amount of power being consumed globally would be staggering, and very very inefficient(as all this is being wasted aside from the generation of Bitcoins.) PPC however adjusts difficulty geometrically as the popularity of PPC grows. So in such a scenario while the value of PPcoin might be astronomical, difficulty would scale so that it would be financially unprofitable for too many people to be mining. And thanks to proof of stake PPcoin would continue to function in such a situation.
  4. Growing acceptability; PPC is being adopted by bigger exchanges such as BTC-e on the fifth of april, as well as hints of ppc at mtgox. Additionally PPC now has the third hightest Market Capitalization
Summary; PPC is fast, reliable, resistant to scenario's which cripple other altcoins, and is designed for the long term, and seems to be slowly growing in acceptability.
What is going against PPC
  1. While it has potential very few places currently exist which accept PPcoin. Bitcoin is now becoming accepted in several "real" shops, while litecoin now has it's own silkroad in the form of Atlantis. PPC unfortunately(like many of the other altcurrencys) does not yet have any such marketplace, and its only current use is the purchase of bitcoins.
  2. PPC's value is currently fluctuating heavily, Vircurex's server issues right before BTC-e's implemetaion of PPC resulted in PPC experiencing its first major bubble in its first few hours unlike most other altcurrencys first few weeks.*
    *[mostly speculation; This might be as people knew that the supply of ppc would rise as soon as Vircurex came online, and were determined to sell before this lowered the value of ppc. Combined with people focusing on TRC as it was added to BTC-e first, and being suprised when due to the miner issue PPC reached the market first, and overbidding in their haste.]
  3. A more temporary issue; PPC might soon be flooded as Vircurex comes back online, and if people panic and flood the market with this additional supply. HOWEVER given that the current price of PPC is currently equal or below the level of ppc prices before Vircurex closed, and additional currencies are in Vircurex the price of ppc might not actually fall all too much as people might refuse to sell at a loss.
Conclusion; While PPC is designed to be used on a wide scale, and seems to be growing in acceptability, it doesn't yet have enough services, and is facing a risk of collapse. So if PPC survives its current difficulties it should grow to equal and eventually exceed litecoins, but only if it manages to weather it's current pricing issues.
edit; so if you want to help PPC succeed, please build services which accept ppc.
edit 2; Issue three has passed. Hooray.
submitted by bagog to ppcoin [link] [comments]

Elliott Wave analyst's thoughts on Bitcoin

(NB: typos mine; crappy OCR software. If anyone wants to see the Eliott Wave he's discussing and I'll make it available.)
Bitcoin Bubble or Bitcoin Breakthrough? How about both?
by Elliott Prechter
December 20, 2013 in the Elliott Wave Theorist
EWT discussed Bitcoin for the first time in August 2010, when the currency traded at six cents. As far as we know, EWI was the first financial publisher to discuss it. Bitcoin was unknown to the general public and off private investors’ radar. Even the earliest adopters did not take it as seriously as they should have. The most notable example of this is the man who paid 10,000 BTC for a pizza. This pizza purchase is now famous (, and many continue to track its price in USD terms via the “Bitcoin Pizza Index," which recently hit an all-time high of over S12 million.
Fast forward to today, and the currency is regularly featured in financial news and social media. Bitcoin Magazine has become popular, Congress is holding hearings on the currency, Germany has defined its role in finance, China is ruling on its legality, and the business world is adopting it. The most prominent business to embrace Bitcoin is Virgin Galactic, one of the many creations of billionaire Richard Branson (
EWT readers were prepared for all this. When Bitcoin was still in the shadows, the August 2012 issue said,
Presuming bitcoin succeeds as the world’s best currency-and I believe it will-it should rise many more multiples in value over the years. -EWT, August 2012
The big question on the minds of investors is not what Bitcoin has achieved, but should they buy Bitcoins now? It’s amusing that so many people ignored Bitcoin upon hearing about it in 20 1 0, but now that its price has gone up 20,000 times, they want to invest. Notwithstanding the currency’s potential, this shift in attitude is a signal saying now is not the time to buy. Let’s look at four areas of evidence:
1) Optimism is off the charts. Past issues of The Elliott Wave Financial Forecast discussed people selling their homes and borrowing money to invest in Bitcoins. That was near the peak of wave Now the desire to buy has grown even more extreme. Bloggers are calling for Bitcoin to reach S1 million. . .soon. One young investor borrowed a million dollars from his father and without his knowledge invested it in Bitcoin ( The other day I walked into a convenience store wearing a Bitcoin T-shirt, and the owner asked me if he should invest now. I felt like I was living in 1929.
2) Investors have recently been rushing to buy a rash of 95 (at last count; see https://bitcointalk. org/index.php?topic=l34179.0) new clones of Bitcoin that have recently emerged: Litecoin, Namecoin, Zerocoin, BBQCoin, PPcoin, PrimeCoin, NovaCoin, FeatherCoin, TerraCoin, Devcoin, Megacoin, Mincoin, DigitalCoin, Anoncoin, Worldcoin, Freicoin, IxCoin... and more. (That they are clones is obvious from the lack of imagination in naming.) This rush of clones is reminiscent of the South Sea bubble of 1720 and the dot-com mania of 1999, when shares of zero-profit, copycat companies (and even fake ones) sold like hotcakes. Virtually every week now, the Bitcoin code is forked into a new coin that investors bid up. lt’s as if buyers feel the world will run out of cryptocurrency, which in fact is infinitely and freely duplicable.
3) The Elliott wave pattern from Bitcoin’s inception shows five waves up. The December ll Short Term Update noted that a major top was potentially in place: The peak [in Bitcoin] came 10 days after U.S. officials, ranging from an assistant attorney general with the Department of Justice to Fed Chairman Ben Bernanke, “spoke approvingly of the potential of virtual currencies." So, here again, the government is getting on board at the very tail end ofa long rise. Since we posted that comment, Bitcoin has fallen an additional 40%, bringing it down nearly 60% from its all-time high.
Will this prove to be just another brief, sharp correction or something larger? Take a look at the completed impulse pattern shown in Figure 3. The structure begins very near the inception of the currency three-plus years ago, when it was selling for a penny. Notice that wave @ is a triangle (see text, p.49), which typically comes in the fourth-wave position. Wave a thrust, carried to the all-time high of S 1242 on November 29. The reversal from that point should mark the start of the largest bear market to date in the currency. This forecast is in tune with the anticipated bear market in the broader stock averages, which have strongly correlated with Bitcoin’s pattern.
The chart is in log scale to show the returns one would have achieved in each impulse leg of the pattern. Wave Q) achieved a stunning 3 19ox gain. Wave ® achieved 59.3% (a Fibonacci 3/5) of the gain of wave Q). Wave ® (measured from the low of wave @) achieved 39.3% (a Fibonacci 2/5) of the gain of wave (D and 66.3% (a Fibonacci 2/3) of the gain of wave Therefore, while each upward move has been large, each successive wave has been decelerating in log terms relative to past waves, in each case by a Fibonacci multiple. Also notice that Bitcoin trades more like a commodity than a stock, with its blow-off tops and extended fifih waves. Most of the gain since early 20 12 has been within (5) of ® and the final wave all of which is probable retracement territory.
4) Most people involved in this mania seem oblivious to Bitcoin’s fundamentals. In my experience, raising these issues publicly earns scorn for spreading “FUD.” But there is a good reason-now widely ignored-that Bitcoin is beta software. Our August 2010 piece explained how Bitcoin operates, but it’s worth revisiting some details to understand just how out-of-touch investor expectations are with the reality of Bitcoin technology. Specifically, let's examine the limitations of Bitcoin’s blockchain.
The blockchain is the heart of Bitcoin. In its simplest form, the blockchain is a public ledger of all transactions that happen in the Bitcoin network. Each block is composed of individual records that track the ownership of each coin. The transactions “fit” together cryptographically. A block is created about once every 10 minutes by the network. Each block is then cryptographically linked to the previous blocks in the chain, forming a history of all transactions that-to Bitcoin’s credit-cannot be forged. To the extent that Bitcoin currency is real, it could be said that the blockchain is the Bitcoin currency.
Yet the core problem with the blockchain is that it grows over time and must be shared by every fiill Bitcoin node. Today it is nearing 13 GB in size. Now, 13 GB doesn't sound too large, but at the current rates of exponential growth the blockchain is projected to become over a terabyte in size in just three years. What's more, the amount of accompanying data required to handle just a fraction of Visa-level traffic would overwhelm even the fastest Internet connections. This technical hurdle makes the “Bitcoin is going to a million” commentary seem premature.
The hope for Bitcoin’s future lies in its open-source nature, allowing it to be improved, and Moore’s Law. Moore’s Law is colloquially used to signify the exponential increases in computer-hardware efficiency over time, including network capacity. But Moore’s law-which calls for a doubling of computer speed every two years-has hit a snag in recent years: the rate of improvement in performance has dramatically slowed, causing many experts to call for the end of the operation of Moore’s law. (For the record, Moore’s Law was never intended to refer to computer hardware performance, but the media have confused the term to the point where it is now generally used in this context. Originally, it was intended to refer to the increase in the number of transistors that are packed into microchips.)
The past four years have been an exciting ride for Bitcoin. But the evidence says the Bitcoin bull market is done for now. It would be best to put Bitcoin out of your mind for the duration of the deflationary wave that is curling toward the financial world. Due to the psychology surrounding Bitcoin, as well as its correlation with the stock indices, it is too risky to buy now. Due to its open-source nature, however, Bitcoin’s infrastructure should continue to improve over the years.
For the long run, I agree with Roger Ver, the CEO of memory dealers and one of Bitcoin’s earliest adopters, who recently said, “It is just getting started." But one could have said that about the U.S. stock market in 1966. It would have been visionary only if you were patient and willing to hold through a very deep valley. Our position is that Bitcoin will never again sell for 6 cents, as it did when EWT first wrote it up. But there will be another time to buy it for relative peanuts alongside stocks, real-estate, gold and silver. When the time comes, no one will be interested.
Elliott Prechter's primary task at EWI is working on EWA VES, our in-house artificial intelligence softwarefor analyzing Elliott waves.
submitted by Indy_Pendant to Bitcoin [link] [comments]

Early PoS developer Cunicula wise words on Peercoin, PoS and PoW

"It doesn't make sense to select an alternative based on current adoption because bitcoin's advantage along this dimension is so overwhelming. The point of investing in an altcoin is to jump in before other adopters. If you want high returns, you need to anticipate adoption, not just jump on the bandwagon. If you invest simply because others have already invested, it defeats the whole point (i.e. you should just invest in bitcoin).
Consider instead 1) differentiation 2) track record of developer 3) economic usefulness of the differentiating property
1) Peercoin (and its clones) & Primecoin have significant unique properties (not just parameter tweaks or new hashing algorithms).
2) Sunny King develops and maintains both Peercoin & Primecoin (he is the only developer (so far) who has released coins with significant innovative properties.)
3) Peercoin (and its clones) do not require expenditures on mining equipment and electricity; ultimately this means lower txn fees which is a major economic benefit.
The only coin that satisfies all of the three criteria listed above is Peercoin."
"Peercoin is the only coin with a legitimate value proposition (different security model). All the other coins are either unfinished or extremely similar to bitcoin but just with weaker networks.
For now, peercoin and keep your eyes out for new opportunities (eg mastercoin if it suceeds in implementing some of its promised features)."
"I hedge with PPCoin until some better version of proof of stake comes along. PPC has security features that bitcoin lacks. Bitcoin has security features that PPCoin lacks. And therein lies the hedge.
Disclosure: I have about 70% value in bitcoin, 30% value in PPCoin, and no other coins (well a few primecoin purely for the novelty value)"
"PPCoin is a fully PoS altcoin. The PoW isn't actually relevant for blockchain validity, only PoS matters. PoW is just used as a marketing device to distribute coins.
A pure PoS altcoin has the following properties: 1) The incentives to attack are the minimum possible achievable for any coin design.
2) The capital cost of attacking is relatively high.
3) The marginal cost of attempting an attack is 0. An attacks can be attempted as many times as you like at this cost.
The first point is ideal for PPCoin. The second point is generally good in all PoS coin designs, but could be much higher than what exists in PPCoin. Interestingly there is a trade off between (1) and (2). Improvements on point (2) have negative effects on point (1). PPC has gone for essentially the absolute extreme on point (1). No coin could do better in this area. I would prefer to trade a little bit of point (1) for some more of point (2).
Point (3) makes people want to include a bit of PoW. I'm not convinced it's necessary, but I think it makes sense to err on the side of caution here.
Another way of putting it is this: Minimization of attack incentives means that PPCoin is extremely safe from rational attacks relative to a PoW based currency. The lack of any marginal attack cost means that PPCoin is more exposed to irrational terrorists relative to a PoW based currency.
Irrational terrorism is the traditional threat model in computer science and this makes the core development community very skeptical of PPCoin. Rational attacks are the traditional threat model in economics. Since I am an economist, I view PPCoin much more favorably. In my opinion, the computer science threat model is ill-suited for analysis of bitcoin mining. It makes more sense for low value systems.
I believe that it is best to use a mixed system (which is simple to do but no one has been motivated to do it), but I also believe that pure PoS is better than pure PoW."
"Did some more analysis. Nxt is vulnerable to a type of sibyl attack. Will post the math later. Sorry I missed this earlier. Can we get the developer to rise from the dead so we can fix the mining algorithm? "
submitted by crypto_coiner to peercoin [link] [comments]

This is what traders think of Peercoin

/!\ FUD ALERT - Some of those comments may be incorrect, inaccurate or even trolling statements /!\

Sometimes it is interesting to have an overview about how people outside of our community see Peercoin. Traders are people who are also contributing to Peercoin's success.
This is a small compilation of what traders said about Peercoin on BTC-E's chat box during the past 7 days.
kkaspar: I like PPC more then BTC because it has a better community... more educated and less greedy... BTC is full of taxi driving gamblers who are looking for shortcuts on becoming rich
eugen3: They chose PPC because PoW is not future proof.
aldaamercury: eugen3, if ppc is going up, then pos is good. else pos is bad
BTB: PPC is an inflation coin, it will not hold its value relative to Inflation Resistant coins, FACT.
BTB: nope, I have no idea how the block reward works on PPC, I am not holding any ppc and do not plan to hold any, in the future.
BTB: ppc can be mined to infinity, what is ppc market cap?
eugen3: PPC is a combined pow+pos. Bitcoin community is far too convinced that PoW is flawless to make that switch though.
IncreaseMyT: Someone want ppc down but no one selling
woodlands1: lets drop PPC down to .26/coin so i can buy one with my leftover change
dscpt: can someone dump some ppc please i've got a bot to test
bitcoiner_ch: guys i know how to "redeem" my btc cold storage, but i have no idea where i can do the same with ppc and ltc...
promoJo: lets be honest here. 80% of crypto people do not know nor care about peercoin
DBOOTYNABBER: people don't know what PPC is? Whats the market cap on that coin anyway?
eugen3: In one year, PPC holders will be retired. Sunny King isn't a person. He is the ruler of the tropical island that you can buy a plot on for 1 PPC in late 2015.
MikeyBee: I got lucky enough and bought in PPC at .00185 and sold at .002 Gonna stay out while I can say I was profitable
MrWong: ppc whale is back and panic sell bc of stamp being down. market is falling till they return! scoop them cheap coins at the bottom yall
eugen3: With PPC, the network just works. No need to worry about big holders killing the asset they are invested in.
bitc0n: i dont buy ppc, i mint them
smedia2010: what if sunny dies? how is going to maintain PPC?
bitpiranha: (It's worth noting that there are better ways to implement proof-of-stake, it's just that method used in PPCoin is flawed. )
smedia2010: GoldDrive, PPC is centralized
bitseer: i downlaoded a fresh ppc wallet. on a 4core laptop over wifi i synched in 1 hr.
kkaspar: I like PPC, and I think that I'll buy it back when the storm settles
sirnoname: When ppc pumps I usually jump in as well, when I have time to monitor since it feels like suicide
submitted by Thireus to peercoin [link] [comments]

What is PPCoin's coin cap? Easy to understand answer in here

This is from speaking to the developer Sunny and reading on the Wiki.
Very short answer: Similar coin cap size to Litecoin, but not guaranteed.
Short answer: PPCoin has no pre-determined coin cap. The size of the coin cap is totally dependent on market interest and user adoption of PPCoin. BUT to give a rough answer if the current market interest remains the same the supply growth of PPCoin will remain the same as Litecoin for a very long time. If the market interest increases then the supply growth of PPCoin will decrease, so a huge increase in adoption will hugely lower the growth in coin supply.
Long answer: Unlike bitcoin, ppcoin does not have a fixed money supply cap. However this does not mean that ppcoin is significantly more inflationary than Bitcoin. The minting design attempts to better mimick gold than Bitcoin does in our opinion. Gold does not have a known money supply cap either, but we know it's reliably scarce. For many years annual inflation of gold is around 1-3%. In ppcoin there are two types of minting, proof-of-work and proof-of-stake. The proof-of-work minting rate is regulated by Moore's Law, which dictates that our ability in proof-of-work grows exponentially. We are aware that Moore's Law eventually has to end, but by that time inflation in ppcoin is likely already approaching gold's level. The proof-of-stake minting introduces at most 1% annual inflation. Meanwhile ppcoin's transaction fees are destroyed to counterbalance these inflationary forces. So overall ppcoin's minting design is still a very low future-inflation design comparable to Bitcoin.
There is a 2-billion coin max value in the source code, however that is only used for consistency checking and is not meant to be part of the minting design.
submitted by webdev84 to ppcoin [link] [comments]

1st BTC/Altcoin Mining Guide, Feedback Welcome!

When I decided to write this guide, I was throwing cryptocurrencies around like they were nothing. I was foolish in the fact that I disregarded the exchange fees that are attached with the services that those exchanges provided. I'm in by no means a cryptocurrency genius, and I'm still not extremely seasoned at it, but I've learned enough about cryptocurrencies in the past month that I feel confident to pass on the knowledge I have learned and to help those who are overwhelmed on where to start.
So what exactly is a cryptocurrency? According to technopedia (n.d.) a Cryptocurrency is a type of digital currency that is based on cryptography. Cryptocurrency uses cryptography for security, making it difficult to counterfeit. Public and private keys are often used to transfer the currency from one person to another.
When mining cryptocurrencies, one important concept needs to be established, and that's hash rate. Hash rate is simply a unit of measurement of processing power. The more your hash rate is, the more profitable mining becomes.
This guide uses specific sites and software, chosen by myself, as a great springboard into the cryptocurrency world. These sites and software are extremely flexible, easy to use, and integrate very well together. The mining pools I've chosen are multiple currency pools, designed to consolidate a major of the cryptocurrencies together, and instead of using several mining pools, you use three.
These are the things you'll need to get started: MultiMiner
Accounts at Coinotron, The Mining Pool Co., and BitMinter
Accounts at Cryptsy and Coinbase
There are a few different ways to mine for cryptocurrencies, the common of which are using your Central Processing Unit (CPU), Graphics Processing Unit (GPU), and Application Specific Integrated Circuit (ASIC) devices. CPU based mining is not profitable any longer, and will cost you money in the end by increasing electricity costs. GPU based mining is still popular, but losing steam against ASIC based mining. If you choose to use your GPU for mining, AMD/ATI based graphics cards (especially the Radeon HD 79xx series of cards), are the most efficient. If you have an nVidia based graphics card, I'm sorry. You can still mine on nVidia cards, but your hash rates are going to be much slower when compared to their AMD/ATI counterparts. If you chose to use GPU mining, Black Friday or Cyber Monday are you best bets for upgrading your equipment. ASIC based mining is quickly losing value with the changing difficulty on all networks, but it's the most cost effective way to increase your hash rate, and see a positive return on any equipment purchases. If my math is correct, using the methods in this guide, in order for any ASIC device to yield a positive cash flow, you've got to get a device that has at least a 5Gh/s rate (such as the Butterfly Labs Jalapeno).
Now for the fun part, explaining how everything in this well greased machine is going to work. Patience plays a big part in the cryptocurrency world, and when I first started, I had none. I was so eager to see the amount of Bitcoin go up, regardless of how much I was getting penalized in fees from trading. So, that's the first step on your journey. PATIENCE. I CANNOT emphasize this enough. Sometimes, you've just got to hurry up and wait, the effects of waiting things out on the cryptocurrency market WILL PAY OFF.
Step one of this machine is signing up for all three pools (BitMinter, Coinotron, and Mining Pool Co.). This is so that you can actually get server addresses to plug into MultiMiner, after signing up for these services though, you've still got a ways to go.
Step two is sign up for Cryptsy. I chose Cryptsy because of the features they're going to offer at a later time, as well as support for 60 cryptocurrencies (which covers all but one of which we can mine). When your Cryptsy account is setup, you will need to go into the Balances portion of Cryptsy, and find all of the currencies in which you will be mining from the pools. Once Balances are loaded up, you will need to click on the Actions button next to the currency, and click Deposit / Autosell, and then Generate Address. There's a small clipboard near the address it generated, and that will copy the address for pasting in the mining pool websites. You will want to copy, and paste all of them to a text document, along with which currency it belongs to. Not only does this keep you from juggling back and forth trying to figure out things, but it helps for reference and setting up MultiMiner.
Once you have those accounts setup, you'll want to sign up for Coinbase. A WORD OF WARNING FOR THOSE WHO ARE PARANOID... Coinbase will want to link to a bank account, this is mandatory if you want to trade your currencies for cash. If you want to trade currencies, just for the sake of trading, then you can skip Coinbase altogether. You can transfer your Bitcoins from Cryptsy straight into Coinbase, and then sell the Bitcoins from Coinbase, and straight into your designated bank account.
MultiMiner, oh how amazing you are. For every cryptocurrency available in all pools, you will need to add these coins, along with server addresses, log-ins and passwords. To do so, click on the drop down next to the Settings button, and click Coins. From there, click on Add Coin, and choose each coin from a pool. This will list it in the box to the left, and give you the ability to add information on the right. You can add multiple servers as well, in case the current server you're mining on goes down. After all your coins are setup, you'll need to setup your Strategies. Click the drop down next to Settings, and chose Strategies. Check the Enable Strategies check box, choosing Straight Profitability from the drop down, and checking the Strategy every five minutes (that way you're not losing money by mining something that has dropped in price). This aggressive price checking makes it to where you're always on top with whatever you're mining. Also make sure you have Mine the Single Most Profitable Coin selected. Stick with CoinChoose as your price source (under Settings), as CoinWarz charges for there services beyond a certain point. Click Start, and take a vacation.
Reading the charts on Cryptsy can be a little tricky, and scary if you've never saw those types of graphs before. Those graphs are called Candlestick Charts, and are used primarily in the stock market. I won't go in to great detail on this, however, you can find a nice cheat sheet on the subject here.
I hope everyone enjoyed the guide, sorry for being punctual and brief, but there isn't anything too elaborate of complicated about searching for cryptocurrencies. I love mining as a hobby, mining's fun, and if there is any money to be made off of mining from my end, great, if not, I had fun mining.
While compiling a spreadsheet of the minable currencies in this guide, if everything is set up correctly (and assuming servers aren't down), you should be able to mine the following:
And while Mining Pool Co. offers ASICcoin and Unobtainium, ASICcoin isn't supported in MultiMiner, and Unobtanium isn't supported in Cryptsy. I still mine for Unobtanium in hopes that Cryptsy will include it one day.
Cryptocurrency. (n.d.). In technopedia. Retrieved from
submitted by ford0415 to BitcoinMining [link] [comments]

Thoughts about Proof of Stake coins (NovaCoin,PPCoin)

I've done a little bit of research into these coins because the basic goal is pretty neat: Long-term they aim to be energy enefficient, meaning less power consumption to secure the network. While this might not seem like a very important goal, if you think about bitcoin becoming mainstream and generating a trillion dollar market cap, with billions of dollars in fees, the cost of the bitcoin network becomes roughly equal to the cost of electricity in relation to fees (meaning mining would cause a significant increase in power consumption world wide, making electricity more expensive and slowing down the economy).
The way proof of stake solves this is by "burning" coin days to mine a proof of stake block. While I'm not entirely sure how this would work (would you need lots of coins to mine PoS, would you donate coins to a pool with others to mine PoS?) what this means is that the cost of a 51% attack is roughly equal to half of the coin stake that's being donated to secure the network, offsetting the cost of hardware/electricity to the value of the coin itself.
The problem with PoS is the question of how do you distribute the innitial amount of coins in the network? While both NVC and PPC promiss about 1% inflation per year as your "reward" for mining you can't start at 0 coins because you can't generate 1% of 0. So the way NVC and PPC solved this is by distributing an initial base of coins through traditional proof of work mining. Except instead of using a planed, known release schedule like BTC/LTC, they released coins as a function of hashing power where more hashing power = less coins per block. Bassically when there were only one or two miners during the first couple days of the release they were generating thousands of times as many coins amoung themselves as later miners would get. This is different from BTC/LTC because no matter how many people are mining, the block reward for BTC/LTC remains the same. PPC/NVC on the other hand respond to additional miners by dramatically reducing the block reward so that a majority of the total number of coins that will ever be produced were mined by the first couple miners.
The theory here I think is that more miners means more electricity consumption so to compensate, the amount of coins generated decreases, removing any incentive for more miners to join the network.
I, like many others, see this as incredibly unfair and in fact early NVC miners were forced to "destroy" coins because people saw it as a premine. You can see this premine of PPC here: (from AndyRossy's PPC Charts).
The actual code / methodology for the mining process, while realtively easy to find for NVC, required a bit of digging before I could make sense of PPC's algorithm.
nBlockReward = 100 / (nMaxTarget / nCurrentTarget) ^ (1/6)
Roughly understood to be reward = 100 / (difficulty ^ 1/6)
Source: NVC faq and generous, well explained comments in the source code.

blockReward = 9999 / (bnProofOfWorkLimit / bnTarget) ^ (1/4)
Roughly understood to be reward = 9999 / (diffificulty ^ 1/4)
Source: Poking around in obscuficated code that looked similar enough to NVC's to make sense of. PPC appears to attempt to hide the specifics of their block reward algorithm while NVC, despite being bassed on PPC's code, is very open about it, even posting an explanation in their FAQ.

For comparison, BTC's block reward algorithm looks like this:
blockValue = 50 / 2 ^ (nHeight / 210000)
Where 210000 blocks is roughly 4 years.

Another difference is instead of adding fees to the block reward, PPC/NVC simply destroy transaction fees. This is enforced by the network to be 0.01, not by the market / miners, regauradless of the size of your transaction, reguardless how old your coins are, reguardless how much the coin is actually worth, the fee is always 0.01 (although I assume devs can adjust this in the future).
Because of their honesty I would probably trust NVC before trusting PPC, although I think both coins are misguided and potentially scams. Had they used scheduled releases like BTC/LTC the story might be a little different. The problem of course is that PoS only really kicks in after PoW (proof of work) making PoS mostly inactive until the coin actually matured. Meaning you'd either be stuck with a premined coin or a coin that wont use PoS until years into the future. If someone can figure out a way to mint a PoS coin without a premine it might be worth while.
Also one other thing that was pointed out to me recently is that it would be fairly trivial for bitcoin (or any other coin) to add PoS if it were deamed necesary in the future. Granted most people would probably be against it but if it were shown to have actual benefits it could be easily added.
  • Proof-of-Stake attempts to secure the coin from 51% attacks by adding stake blocks which "burn" coins in the process.
  • The main benefit of this is reduced power consumption.
  • All current PoS coins are pre-mined and pre-mining is basically built into the code and is required for initial minting.
  • Fees, which are hard enforced by the network, are simply destroyed (for no good reason as far as I can tell).
  • For what it's worth NVC appears to be a more honest coin than PPC which attempted to obfuscate their minting process. NVC devs also destroyed a lot of their coins from early minting whereas PPC devs still have their coins (which were being minted at 2,000,000 per day).
  • It would be very easy for BTC/LTC/TRC or any other PoW (proof-of-work) coin to add PoS in the future if it were found to have actual benefit for cryptocurrencies.
submitted by sup3 to CryptoCurrency [link] [comments]

***QUESTION: Are Other Crypto-Currencies Killing The Momentum Behind Bitcoin? Seriously.

I will not claim to be an expert on Bitcoin or any other crypto-currencies. Truth be told, I've done very little research on the other options out there beyond Bitcoin.
From what I understand of the market, Bitcoin acts as Gold, Litecoin equates to silver, and PPCoin is the copper of digital cash.
There are others: FeatherCoin, ZeroCoin, Terracion... the list goes on.
Does this have a negative impact on Bitcoin as a currency? There is no argument against Bitcoin being the contender. I do not know enough about the others to understand which one has the most beneficial traits, but this is how I see it:
Bitcoin is by far the leader. You can argue how you like, but it obviously has the farthest reach, the largest user base, the highest value.
However, there are drawbacks. The primary one, beyond the recent regulatory issues, is the fact that there are so many different alt-coins popping up. It dilutes the market (IMO). They are all competing for the same user base. I think this has a lot to do with human nature. I call it ego. The other coins are extensions of someone else's idea for the type of 'coin that they feel is "the best".
I'm not calling anyone out. I haven't done the research. I'm wondering what other alt-coins have been released anonymously and in free form? In the sense that it was given to the world without want of recognition or status.
To my knowledge, Bitcoin is the only one.
Here is the problem:
The crypto-currency explosion works more towards collapsing the system than benefiting it. Think about it. The crypto-currency world is trying to do too much at once, instead of becoming great in what it was intended to do. And that was to create a true peer-to-peer, digital cash system that is open, transparent and secure.
If the entire community got behind a single protocol it would accelerate adoption and add momentum. Widespread adoption makes using crypto-currencies more convenient and easy to use. And that is the only way to make it an appealing currency to the non-internet dweller. Plain and simple. It's getting more pigeonholed as an investment in the media, for speculation - not a useful currency.
Bitcoin hasn't reached a point of 'critical mass'. Is it moving closer? I think so. It has been legitimized. This is evidenced in the U.S. registering Mt. Gox as a money transmitter and the Winklevoss' Twins recent filing with the SEC. I could also point out Germany's progressive move regarding taxes.
And didn't Canada create their own 'coin, too? What's up with that?
Either way, I think that this entire movement (or whatever you want to call it) is better off taking a concerted approach to widespread, real world adoption. Don't fight for the same userbase. Focus on competing against fiat currency.
submitted by bitcoinwebhosting to Bitcoin [link] [comments]

What is PPCoin's coin cap? Easy to understand answer in here

Hi all, I posted this for the PPCoin subreddit and it was suggested I cross-post it here. This is from speaking to the developer Sunny and reading on the Wiki. Hopefully it clears up some misconceptions and also demonstrates some of the differences from Bitcoin and it's siblings.
Very short answer: Similar coin cap size to Litecoin, but not guaranteed.
Short answer: PPCoin has no pre-determined coin cap. The size of the coin cap is totally dependent on market interest and user adoption of PPCoin. BUT to give a rough answer if the current market interest remains the same the supply growth of PPCoin will closely match Litecoin for a very long time. If the market interest increases then the supply growth of PPCoin will decrease, so a huge increase in adoption will hugely lower the growth in coin supply.
Long answer: Unlike bitcoin, ppcoin does not have a fixed money supply cap. However this does not mean that ppcoin is significantly more inflationary than Bitcoin. The minting design attempts to better mimick gold than Bitcoin does in our opinion. Gold does not have a known money supply cap either, but we know it's reliably scarce. For many years annual inflation of gold is around 1-3%. In ppcoin there are two types of minting, proof-of-work and proof-of-stake. The proof-of-work minting rate is regulated by Moore's Law, which dictates that our ability in proof-of-work grows exponentially. We are aware that Moore's Law eventually has to end, but by that time inflation in ppcoin is likely already approaching gold's level. The proof-of-stake minting introduces at most 1% annual inflation. Meanwhile ppcoin's transaction fees are destroyed to counterbalance these inflationary forces. So overall ppcoin's minting design is still a very low future-inflation design comparable to Bitcoin.
There is a 2-billion coin max value in the source code, however that is only used for consistency checking and is not meant to be part of the minting design.
submitted by webdev84 to CryptoCurrency [link] [comments] (Donate to Primecoin Projects - Developers Earn Tips)

What is Prime4Commit? With you can add projects from GitHub and donate Primecoins (XPM) to the ones that interest you the most. Anyone that submits code changes and has them accepted will receive Primecoin tips. This helps in providing an incentive for developers to work on important projects that will benefit Primecoin in the future. Prime4Commit was adapted by Sigmike from Tip4commit.
What is a Commit? Each time someone adds changes to the source code of a supported project, they receive 1% of the project balance. A set of changes is called a "commit". Here is an example commit for Primecoin merge with Bitcoin v0.8.6:
How do I Receive a Tip for my Commit? We use the email address included in the commit to identify the author and notify him. To receive the tip, the author must follow the link in the email he received and set his Primecoin address. If he doesn't do that within 1 month, the tip goes back to the project balance.
How do I Donate to a Project I Like? You can see all supported projects here: To donate to a specific project, open up the page for that project and just send Peercoins to the address that is displayed. For an example, check out Primecoin's main project page: If the project you want to donate to is not supported yet, go to the supported projects page and just copy/paste its GitHub URL (For example: into the input box above the list. Anyone can add a project to Prime4commit, even if you are not the project maintainer. 99% of your donation will be given as tips. 1% will be kept to host the website and pay the transaction fees.
How do I Push my Commits? Getting write access to the "Master" of a project involves that the project maintainer provides access to you in Github. This type of access would only be given to people trusted by the maintainer. If you already have write access to the project, just push your commits to the default branch of the project as usual. Otherwise, you'll have to fork the project (i.e. Start your own project based on the supported project), make some changes and create a pull request to propose your changes. If your pull request is accepted (Merged), you'll receive one tip per commit. If the changes are simple enough, you can do them in your browser by editing the files on GitHub. Otherwise, you'll have to use Git to clone your fork, make some changes, commit them and push the commits to GitHub. You can find a lot of information about that on GitHub help and on the web.
Make Sure You Read the Project Charter & Tipping Policies Before Starting: Project maintainers can refuse your commits for several reasons. It is important to read the "Charter" of the project on its GitHub page, which usually provides guidance on which commits and under what rules they would be accepted. For example, there are very strict rules for contributing to the official ppcoin/ppcoin project. A good way to ensure the maintainer is willing to merge your changes is to first create an issue explaining what you're going to do and ask if they would merge a pull request. Wait for an answer before starting. The project owner can also edit the Tipping Policies section on their Prime4Commit project page to include more information on what kind of commits will be tipped. So it's important to read both the project charter on GitHub and the tipping policies that are listed on Prime4Commit.
Can Project Owners Change the Amount Donated to Each Commit? Yes, they have a new button "Change project settings" on the project page along the project name. In this screen they can change 2 things (for now):
When the checkbox is active, each new commit generates an "Undecided" tip and the authors are not notified. The project owners can then click on a new button on the project page to decide the tip amounts. They have these choices:
The authors are notified when the tip amount is decided (Unless they have recently been notified already, or if they said they don't want any more notification, or if they have configured their Primecoin address). The 2 buttons are only available to project collaborators (Those who can push changes to the supported repository). There should be more options in the future. Your ideas are welcome.
What Measures Have Been Taken to Secure the Funds on Prime4Commit? The project funds are isolated in different accounts in the wallet, so if someone ever finds a way to get more tips than the project balance, Primecoin will not take the funds from another project and will refuse the transaction. Projects with a high balance have part of its funds moved to cold storage. This is still a manual operation, but will soon be automated. The website runs in an isolated virtual server running only this service.
Do You Have an Audit Page Setup for Prime4Commit? Yes, Prime4Commit does have an audit page. It shows different information, such as amount donated, available balance, transaction fees, amount in cold storage and includes addresses for each project. You can view the page here:
Conclusion: The commit may not be the best item to identify the value of a contribution, but it's a very convenient way to identify contributors and send them donations. The maintainer of the project doesn't even have to do anything. Supporters can add a project from GitHub and start donating without any extra work on the project side (Except setting their address if they want the tips). A commit can include very important changes that took a very long time to build (Like the v0.8.6 changes) or a very small change like adding a comma.
Contact: If you have any questions, either post them in this thread, message Sigmike on Reddit: on;u=30141 or open an issue on GitHub:
Fork: Pull Request: Git: Github Help:
Comment: Modified for Prime4Commit based on original post written by Sentinelrv
submitted by Sebsebzen to primecoin [link] [comments]

Three new cryptocurrency technologies [show ideas]

There is lots of information out there on bitcoin now, but I don't hear too much about other cryptocurrencies. I'd specifically like to hear more about three other cryptocurrency technologies.
Chris Odom and the developers of Open Transactions claim to have built a system which offers truly anonymous digital cash transactions. This is something the bitcoin cannot do at the moment. In a recent Reddit link there was talk of using Open Transactions with BitMessage to start implementing a P2P currency exchange.
I have heard a lot of interesting use cases for Namecoin, which is essentially a "peer-to-peer generic name/value datastore system", from user authentication systems, issuing stocks, to a USD backed currency. A good interview on about the system might be Hiro White, if you can get in contact with him on IRC. I'd love to know what new systems are available to use which are based on namecoin or even a intro on how namecoins can be used to create your own .bit domain name.
Ripple is the system I know the least about. I have tried to trade for bitcoins with the system, but I feel like I'm using the system wrong, or it is not completed yet. I also wonder about whether ripple is a decentralized or uses a block chain. Is there a spokes person for the project that could explain the system?
I also enjoy hearing about any of the other alt blockchains as well including litecoin, ppcoin, devcoin, teracoin, etc..
Thanks! I look forward to more big shows!
submitted by dmp1ce to planbshow [link] [comments]

In Case you Haven't Read the 2nd Community Interview with Sunny King Because you Haven't Signed up at the Forum yet, Here it is...

Some people have not signed up at yet and don't have access to Sunny's interview, so here it is...
Sunny King: hi all
JustaBitofTime: Hey Sunny, nice to have you with us. Are you ready to get started?
Sunny King: Yes John I'm ready.
JustaBitofTime: Coolbeans94 wanted to know about Peercoin's long term approach, he asks "27. Is its design more for long-term security and sustainability? How does that relate to Bitcoin’s longterm vision?(Coolbeans94)"
Sunny King: @Coolbeans 94. Both PPC and XPM are designed to last. PPC is designed with energy efficiency, XPM is designed with energy multiuse. Bitcoin has a long term uncertainty as to whether transaction fees can sustain good enough level of security. Before that the main concern is how to balance transaction volume and transaction fee levels. Currently I get the feeling that bitcoin developers favor very low transaction fees and very high transaction volume, to be competitive against centralized systems (paypal, visa, mastercard etc) in terms of transaction volume, to the point of sacrificing decentralization. This also brings major uncertainties to bitcoin's future.
Sunny King: @Coolbeans 94. From my point of view, I think the cryptocurrency movement needs at least one 'backbone' currency, or more, that maintains high degree of decentralization, maintains high level of security, but not necessarily providing high volume of transactions. Thinking of savings accounts and gold coins, you don't transact them at high velocity but they form the backbone of the monetary systems.
Sunny King: @Coolbeans 94. Pure proof-of-work systems such as bitcoin is not 100% suitable for this task. This is because transaction fee is not a reliable incentive to sustain network security. If the mining generation amount is kept constant (there have been several such attempts in altcoins) it would work better security-wise but then it would also significantly weaken the scarcity property of the currency. XPM's inflation model is designed in such a way that it could serve as backbone currency better than bitcoin if needed, because it could maintain high security reliably for longer, with reasonably good scarcity property as well. Of course that's only from architect's point of view, whether or not it would be chosen by the market is a whole different matter.
JustaBitofTime: Along those lines the community wanted to know ""If the tax fees are to remain fixed at 0.01 and Peercoin becomes widely adopted, (Thus a sharp rise in value) the fees could become too much for microtransactions. What would happen in this case? What solutions do you imagine to get around the microtransaction issue?"
Sunny King: @Coolbeans 94. PPC is designed to serve even better as a backbone currency. The proof-of-stake technology in PPC is not only energy efficient; it also maintains high level of security without relying on transaction fee. Thus PPC could be safely designed with strong scarcity property yet serving well as backbone currency.
Sunny King: @Coolbeans 94. Both PPC and XPM use protocol enforced transaction fees, which reflects my preference that high transaction volume is discouraged in favor of serving as backbone currencies.
JustaBitofTime: Speaking of security, there's often quite a bit of debate surrounding the PPC vs XPM checkpointing. 27.5 Will checkpoints be optional like they are in XPM in the next client version?
Sunny King: @transaction fees: Right now if we are talking about micropayments in the US$1 range, both PPC and XPM still handle them with much lower overhead than credit card network. In the long term micropayments should be provided by centralized providers, or a less decentralized network optimized for high capacity transaction processing.
Sunny King: @transaction fees: On the other hand there is no promise that minimum transaction fee wouldn't be adjusted. If processing capacity of personal computers continues to advance at the current pace, both max block size and minimum transaction fee could very well be adjusted at some point. However I do take a very cautious approach to adjusting transaction fees, as opposed to bitcoin devs. The impact to the fitness of the currency as a backbone currency is of great concerns to me.
Sunny King: @checkpoint: Decentralization of PPC checkpoint is currently planned to begin in v0.5. It would be a gradual process.
JustaBitofTime: I can tell you from my own Libertarian leaning, being able to add some layer of anonymous transactions is important to me. 47. Can you tell us more about 'sendtoaddressfrom' and Avatar mode? Will this be released in the next client version? (JustaBitofTime)
Sunny King: @JustaBitofTime Yeah this is still at conceptual stage. It shares some similarity to coin control. However from user point of view I'd like them to think in terms of avatars instead of addresses and coins, it's simpler and better for privacy.
Sunny King: The main rule is that in avatar mode the client doesn't automatically assemble coins from different avatars into the same transaction but it can still do so within an avatar
JustaBitofTime: One of the challenges the Peercoin community faces is breaking down all the technical nuances of the coin. Alertness asks "60. Could you please explain exactly how the level of PoW and PoS difficulty is calculated? (Alertness)"
Sunny King: so you probably need to specify which avatar the money should come from in a send
Sunny King: I would wait to see how coin control is introduced in bitcoin first. If bitcoin implements similar concepts first that would be nice too.
Sunny King: @Alertness For simplicity we can think of the difficulty adjustment of PoW and PoS blocks independent of each other. Basically it uses some technique called 'exponential moving' to keep the block spacing relatively constant. It adjusts on every block and smoother than bitcoin's adjustment, responding to change of network hash rate much faster than bitcoin, but at the same time not too fast to make difficulty manipulation exploits difficult.
Sunny King: @Alertness PoS blocks have a constant 10-minute spacing target. PoW blocks have a variable spacing target, between 10-minute and 2-hour, but on average it's about 30-minute when PoS block spacing is close to the 10-minute target. This serves to reduce the variation of block spacing.
JustaBitofTime: Along those lines, 60.5 Could you please spend some time talking about the environmental impact of Bitcoin vs Peercoin now and then in the future? (JustaBitofTime)
Sunny King: @JustaBitofTime I don't like to paint bitcoin in a negative picture because it's indeed a brilliant system with high integrity and reasonably good inflation design. High energy consumption is only a minor blemish. To say that it's gold 2.0 I think is quite reasonable.
Sunny King: But if we can solve one of the issues with gold and gold 2.0, their environmental impact, that would be very nice, wouldn't it? We all want to live on a cleaner and happier earth, right? So we should take this task more seriously and PPC provides a possible solution.
Sunny King: On the other hand we should also respect other people's free will. For example we should not force other people to not mine bitcoin or participate in distributed computing projects, because of the environmental cost. So XPM complements the goal here as it produces additional scientific value from the consumed energy. So people who like to mine cryptocurrency for whatever reason have a better choice to mine, to get more benefit out of the mining activity and environmental cost.
JustaBitofTime: For our non-technical users, how does PoS factor into the environmental impact? In other words, 1 friend is mining Bitcoin and the other is mining Peercoin. How does that look now and how does it look in 1 year?
Sunny King: Currently PPC market cap is still small, so the effect is still small. If PPC becomes as successful as BTC, then the energy saving would be significant, and more and more so as difficulty rises
JustaBitofTime: As difficulty rises, what is the net effect? I feel this is an area that many new to the coin have trouble making the connection.
Sunny King: A caveat here is that the energy consumption on bitcoin mining might drop in the long term as well, due to lack of incentive in mining. However this would drop bitcoin's security level
JustaBitofTime: You spoke about producing additional scientific value from consumed energy with XPM. 55. What are your thoughts about [email protected]? Do you see a place for it in crypto coins?
Sunny King: Difficulty increase in PPC reduces inflation rate, which also reduces the energy consumption. This is assuming market capitalization stays the same
Sunny King: It's hard to say, I am not an expert in protein folding algorithms but I can imagine it would be hard to completely decentralize. There has been a proposal of a less decentralized solution whereas traditional hashing provides network security and half of the minting, whereas folding computation provides the other half of the minting using the existing centralized distributed computing network. This approach is not limited to [email protected] though, people are also thinking about other networks such as BOINC.
Sunny King: The problem with this system is whether trust is required on the centralized distributed computing network to not abuse the system and counterfeit. Without solving such problems it's not a serious currency system in my opinion, but on the other hand we do see existing systems in operation with centralized minting, such as DVC and FRC. So this type of systems definitely has some niche in the market.
JustaBitofTime: Shifting gears here, Jimmy asks "Q1 New: When will the development team release the official ppcoin specification? (Jimmy) Clarification “We got the paper last year, but we need a protocol specification detail similar to , especially for POS and the integration of POW with POS. The specification is important to developers and the general users who are interested in ppcoin.”
Sunny King: @Jimmy There is no set plans for this yet. If the demand is strong I could look into getting a summary of difference between bitcoin protocol spec and ppcoin protocol spec.
JustaBitofTime: Between 2 different coins, you obviously have your hands full. Romerun asks "Last interview sunny say if he somehow disappears Scott will fill in. But up till now we don't really know who he is, or how much commitment of him to the project / etc. There could be the issue of impostor too, so it would be benefit to the community to clear this up. And wouldn't it be better to have a few more key devs to PPC."
JustaBitofTime: My understanding was Scott was capable of filling in, however, has not worked on PPC recently?
Sunny King: That's right. For some reason Scott isn't as motivated as I am. I also look forward to having more developers with ppc, right now I think xpm team is in good shape, quite a number of people are working on xpm miners which requires a good understanding of the innerworkings of primecoin.
Sunny King: So I think as our community grows there will be more talents showing up. I am still pounding scott to be actively involved as well
JustaBitofTime: As your development team expands for XPM, Muto asks "35. Do you plan to release another currency? (Muto)"
Sunny King: @Muto 35. No such plan right now. I have recently turned down a few invitations to work on other currency projects due to my responsibility in PPC and XPM. I am committed to further improve PPC and XPM's competitiveness in the market.
JustaBitofTime: Speaking of competitiveness in the market, Romerun would like to know "What are the development priorities/future features of PPC/XMP in Sunny's mind? online wallet? etc."
JustaBitofTime: I understand marketing and overall community development/involvement is a big part of the overall plan.
Sunny King: I have touched a few things last week I think, there are other things I have in mind but don't wish to talk about yet. I am constantly evaluating market situation to figure out what's the best features to compete in the market
JustaBitofTime: Let's change it up again 8. Who are your business and personal heroes? (MeBeingAwesome)
Sunny King: As to services and apps I usually leave those to the market to support. If I were to be involved in a service somehow I think it needs to have profit potential
Sunny King: and not divert too much of my resources and time
Sunny King: @MeBEingAwesome Right now I am in the business of cryptocurrency As to my heroes, I think Satoshi qualifies as one. We know that before bitcoin came into existence, several pioneers in the digital currency world have made sacrifices, such as Douglass Jackson the founder of e-gold, Bernard von NotHaus the founder of Liberty Dollar, among many others. These efforts are part of the same movement to decentralize the control of money, from potentially rising oppressive governments. Gold was demonetized to mainly facilitate centralized power, that gives governments power to do a lot more damage, to do whatever they want. Through history we can see the corruption of morality of governments, for example, in the 1860's US governement still had the integrity to return to gold standard after civil war, while in the 1930's it no longer had such integrity after an economic depression. Not only that, it developed audacity to blame the depression on gold. It's very difficult to restore morality of governments.
Sunny King: The cryptocurrency movement, arising from the lessons of e-gold and liberty dollar, gives people a powerful tool to peacefully return to the principle of limited government. We all thank Satoshi whose brilliant mind and effort enabled this movement. Of course there are a lot more things going on in the societies outside cryptocurrency world, to preserve mankind's freedom, to elevate mankind's morality and spirituality, so there are many heroes around us.
JustaBitofTime: I completely respect your desire to remain anonymous. If the code is open, that should speak for itself. With that being said, there are people that claim you might be someone involved with the Satoshi team early on. Can you speak to that rumor? Also, did you have any involvement with Satoshi directly?
Sunny King: I wish I were as that would have made me very rich I am also curious to who Satoshi really is, what led him to such great achievement. But on the other hand I also wish him a peaceful life not having to endure such hardships like NotHaus
JustaBitofTime: For those not familiar with NotHaus, please look into Liberty Dollar.
Look in the comments for the rest...
submitted by Sentinelrv to peercoin [link] [comments]

How valuable is Coin Age?

I've seen several discussions about the relevance of coin age. There are many reasons why it could be important or interesting. I've seen people use it as an indication to see how confident early adopters are or that it may be used in the calculation of fees in certain clients. There is even a crypto-currency called PPCoin which seems to value older coins less that recently "spent" (transferred) coins. I understand that for an economy to flourish, money must flow and for a currency to be successful it must be used and you'd want to give people incentives to spend.
My question is how this relates to Bitcoin. I would like to know all arguments on whether older coins in the blockchain are MORE, LESS or of EQUAL value to an owner for any reason. Be it technical, risk, influence, etc.
Of course you could just move your coins around in your wallet, but I'm trying to figure out whether that devalues the coins.
submitted by alsomahler to Bitcoin [link] [comments]

PPCoin moves up to third position for market capitalisation, only behind Bitcoin and Litecoin!

Great news for PPCoin holders! PPCoin has overtaken old favourite Namecoin and moved into third position for market capitalisation! Market cap is an important economic indicator which numerically represents the size and 'value' of the coin.
Note that Novacoin which has a high price is languishing way down in position number 7.
Here is the list:
Bitcoin - 10,999,725 btc
Litecoin - 283,207 btc
PPCoin - 51,642 btc
Namecoin -51,642 btc
Devcoin - 51,642 btc
Terracoin - 12,656 btc
Novacoin - 6,258 btc
See the list at
submitted by webdev84 to ppcoin [link] [comments]

Oh great, another coin.

I have a suggestion for a coin, but as i am not a programmer i need advice.
Basically its a ppcoin clone with a few differences.
  1. The program should have a built-in voting protocol (one coin, one vote) so that you could split the coin like when companies split a stock. That is, when the value of the coin rises (hopefully) you could vote for a split to better enable small transactions. And this would also ensure that the value of the coin remained relatively stable ( obviosly the value would halve if you did a 1-2 split ). As i understand bitcoin, and bitcoin-like protocols the smallest transaction possible is fixed which i think is stupid as none of us can imagine how small transactions will be needed in the future.
  2. Perhaps i havent understood the "proof of burn" principle, but would it be possible to demand the burning of one coin to unlock the wallet. Im sure we all worry a bit about wallet-stealing software but dont these programs simply try millions of combinations precisely because its free. If each password guess cost one coin wouldnt that make it far more secure.
  3. Is it possible to have the program come with a built-in i2p-router for better anonymity?
English is my second langauge so please forgive grammatical clumsiness. Love to hear your thoughts.
submitted by Anti-karl to CryptoCurrency [link] [comments]

Time Traveller's Prediction for Bitcoin Price 2019 Gold, Silver, and Bronze Metal Bitcoin Coins - YouTube BITCOIN : QUELLE VALEUR PEUT-IL ATTEINDRE LORS DU PROCHAIN BULL RUN ? Bitcoin - Litecoin - PPCoin - Feathercoin - Crypto ... How Does BitCoin Work? - YouTube

Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. See in real time cryptocurrency prices and bitcoin value currently. Use bitcon converter to USD, view top crypto exchanges, top crypto gainers and losers, top volume, bitcoin charts price, bitcoin charts live, bitcoin charts history, bitcoin calculator, read articles on bitcoin scams, bitcoin trading, cryptocurrency by market cap, cryptocurrency where to buy, info on cryptocurrency wallets ... BTC EUR: Aktueller Wechselkurs von Bitcoin BTC und Euro EUR mit Chart, historischen Kursen und News auf BÖRSE ONLINE. Unlike Bitcoin, Namecoin, and Litecoin, Peercoin does not have a hard limit on the number of possible coins, but is designed to eventually attain an annual inflation rate of 1%.There is a deflationary aspect to Peercoin as the transaction fee of 0.01 PPC/kb paid to the network is destroyed. This feature, along with increased energy efficiency, aim to allow for greater long-term scalability. Peercoin Primer. The Peercoin Primer is a short five part video series covering the basic fundamentals of Peercoin. Learn about important topics such as Peercoin's initial distribution, how proof of stake consensus works and the many benefits it offers, Peercoin's economic model and its use of limited inflation to produce sustainable security.

[index] [49234] [18848] [5945] [18147] [25586] [14853] [36039] [42881] [36215] [47885]

Time Traveller's Prediction for Bitcoin Price 2019

Bitcoin (BTC) price analysis prepared by BNC's Josh Olszewicz. The Bitcoin (BTC) market cap is currently US$163.8 billion, with US$7.46 billion traded in the past 24 hours. The current spot price ... Journal du Coin est le média francophone de référence concernant la blockchain et les cryptomonnaies. A travers ses articles et ses vidéos, il vous permet de suivre toute l'actualité afin de ... As an Amazon Associate I earn from qualifying purchases. Get the gold coins here... Get other gold coins here... Back in 2013, an anonymous figure posted on the r/Bitcoin subreddit claiming to be a time traveller from the year 2025. He made a series of predictions for the price of Bitcoin in future years ... Bitcoin Cryptocurrency Crash Course with Andreas Antonopoulos - Jefferson Club Dinner Meetup - Duration: 1:12:22. Jefferson Club Silicon Valley Recommended for you 1:12:22