Best way of getting Peercoin is to buy them and mint them. Not mine them

I think with the recent price movement, it’s obvious people have figured out that the best way of obtaining Peercoin is to buy some, hold them, and mint your own coins.

Mining PoW was always for fair distribution of Peercoin initially, and those that mined them via SHA256 ASIC miners kept dumping them on the market. Which means any one could purchase them.

However, as Bitcoin miners flood the PoW mining for Peercoin, it increases the difficulty and makes mining tough to do. A lot of these miners didn’t realize that keeping Peercoin instead of selling them might have been a smarter decision long term.

You’d be much better off just buying Peercoin, holding them for 30 days until coinage starts to accumulate and then mint your own coins with proof-of-stake

Even if you don’t mint any coins on day 31 because you don’t have enough Peercoin, you will still get your amount due when you do mint if it takes longer, because your coinage and stake are still known by the network.

For instance, if I had one small transaction of only 2 ppc sent to my wallet, the likelihood of me minting coins based on that in 31 days is very low. However over a long period of time, the amount of coins I can mint when I am successful still goes up over time, even if it took me 4 years to get lucky with such a low stake for that particular transaction.

Buying a lot of Peercoin (more than 2 ppc) increases my chances of minting. To realize I can buy 100 ppc for only $47 usd is quite amazing.

At these prices, almost any one could buy a significant amount of Peercoin, hold them and start minting 47 cent coins without owning any mining hardware at all.

(Historical fact. As of March 6, 2017, Peercoin is currently trading at 47 cents USD each)

Most of us have always known the benefits of Peercoin. I suppose the market just wanted to see how stable we were since 2012. As you can see, Peercoin holds up to the test of time and will continue to do so. :slight_smile:

You an look at my small humble wallet. If I could afford more, I’d buy more. But look at the coins I’ve minted:

1 Like

I myself have always bought them, never mined any. It’s so much easier and I don’t need to worry about the hardware becoming obsolete. I also sat on my Peercoin for a long time and was afraid to mint because of security issues, but once I finally tried it I was glad that I did. Now I check my wallet and see I mint blocks every other day, sometimes multiple times a day. It’s fun to watch.

If you own a lot of Peercoin, I’d put it on a second computer that you don’t use every day. This way you can keep that second computer devoted to minting and holding your coins.

It’s hard to maintain security when you’re constantly installing new software, browsing the web, going to websites, downloading email, etc.

On your peercoin minting machine, just run the Peercoin wallet and stay off that computer. Don’t look at porn, don’t play online games with it, etc. Keep the security updates current. The less you have running on it, the better.

Yes, this is what I do. I have a separate laptop dedicated only to minting Peercoin. I used to run Nu and B&C on it also, but no longer. I only use the internet on it to download wallet updates.

Also wanted to mention that it is straightforward to run Peerbox on a virtual machine. There are also Vagrant install scripts here.