I was glad to find this PPC oriented forum, great work FuzzyBear. Hopefully we will not have any more hiccups with the site going down. We need a PPC specific forum as bitcointalk is being overloaded with new topics and other Alt-Currencies. Just wanted to offer some comments that I have about PPC. I am not asking for any specific answers and it is not my intent to put anyone on a spot, just wanted to share few thoughts.
What I donâ€™t like about PPC:
- I would argue that to this point PPC has a single point of failure: Sunny King. By visiting bitcointalk I understand that he discusses solutions with other programmers & the PPC paper includes reference to Scott Nadal but I donâ€™t see any of their in depth involvement (I might be wrong here). It is obvious that â€œSunny Kingâ€ is a nickname (ppcoin.org website registered in China) and if he steps aside like Satoshi did who will carry this multi-million dollar project over the next few years?
- PoS is at the moment questionable. Some programmers pointed out that at the current stage it is a â€œconceptâ€ not a working solution. Even Sunny agreed partially with it by posting his new proposal on bitcointalk for solving this.
- There were 1,8 mln PPCs mined on 29 Aug 2012 (I think the date is right) are those initial adopters able to do 51% PoS attack now?
- There are more than 33,000 McDonalds in the world if they start accepting PPC and do on an average 1 PPC transaction per minute thatâ€™s 10 x 33,000 = 330,000 transactions per block, can PPC handle that? (Bitcoin can only do about 2,500 transactions per block â€“ based on the transaction size)
What I like about PPC:
- 1% inflation with PoS. It does not have to rely on the miners forever.
- Unlimited supply. I believe this concept is widely misunderstood, very few people took a look at inner workings of the currency to understand block creation awards vs time.
- We are here to make money, PPC has a very strong case for it.
On the logo: The simpler the better, they might offer keyboards with the â€œPPâ€ sign in few years.
On the Name: While â€œPee Peeâ€ sounds a bit funny in English, it is perfectly innocent in other languages. I would suggest to steer the acceptance signs to something like this: â€œPPC accepted here, Peer to Peer Coinâ€ thus marketing “PPC” vs “Pee Pee Coin”.
Sunny markets PPC on bitcointalk heavily, nothing wrong with that, but I think Satoshi was right when he urged early adopters to have the bitcoin gain ground slowly and work on the strengthening the security and improving the inner working of the coin. If it fails hard once, it will be very difficult to regain peopleâ€™s faith in it.
The forum is missing a Developer discussion: Is there an E-Commerce solution for PPC? Any open source software that allows easy website integration?
PPC is a very good concept but in the current state in cannot be a major player on the crypto-currency market; however it has a GREAT potential. Kudos to Sunny and all that helped out.
I do not own very many PPCs (unfortunately).