Interview With Sunny King #5 (Delayed)

General
1

Hey everyone. The interview was scheduled for June 28, but it seems something came up for Ben at the last minute, so he’ll need to postpone it. We’ll post the new date when we have one.

The 5th community interview with Sunny King will be held on June 28th at 18:00 UTC. There may be others from Sunny’s core dev team that join this time, such as Sigmike and the current developer for Primecoin, mikaelh. The interview will be held in the PeercoinTalk chat, like usual.

[quote=“Ben, post:15, topic:2410”]We will use the #Peercoin Freenode channel as the “sidebar” discussion room, during the interview with Sunny.

https://webchat.freenode.net/?channels=peercoin

If you would please use your PeercoinTalk username (or a recognizable variation of it) as your IRC username, I would appreciate it.

The intent of the sidebar is to allow the community to propose follow-up or clarification questions in response to Sunny King’s answers, but I reserve the right of final discretion for the questions that are moved from the sidebar into the interview chat, as the moderator, in order to maintain the flow of the interview.

A transcript of the interview will be posted as soon as possible after the conclusion of the interview.

Thank you all for posting the questions, and I look forward to hearing from Sunny King! See you after the interview![/quote]

2

I wonder what Sunny thinks about the current coin fashion of anonymous payments…

3

Just to let everyone know, today’s interview has been postponed. Ben has informed us that something came up. The interview will be rescheduled to a later date.

4

Just saw, changed the first post.

5

Sunny’s thoughts of pos pools
http://www.peercointalk.org/index.php?topic=3029.0;topicseen

6

Has a reschedule date been set yet? Where is the best place to propose questions prior to the interview? I think giving Sunny King a list of questions ahead of time would be much more efficient. Maybe there can be a vote for the top 5-6 questions.

P.S. This is my first post, but I have been invested in PPC and lurking on this board for a long time. I am excited to see the recent pick-up in activity!

7

[quote=“fredrick, post:6, topic:2583”]Has a reschedule date been set yet? Where is the best place to propose questions prior to the interview? I think giving Sunny King a list of questions ahead of time would be much more efficient. Maybe there can be a vote for the top 5-6 questions.

P.S. This is my first post, but I have been invested in PPC and lurking on this board for a long time. I am excited to see the recent pick-up in activity![/quote]

Hi, voting on the questions for this interview series was completed a while ago. I haven’t had time yet, but I want to get with Ben to talk about doing the next interview via email, allowing more time for proper responses to questions and then posting it later in a thread.

8

maybe we should set something up to gather important questions and SK can answer them periodically, there will always be some new things to talk about

9

I think this makes a lot of sense. There is too much latency in the chat format for thorough discussion… although I do enjoy the idea of a live event.

10

Yes, I was thinking about this recently. I’d have to ask Sunny about it though. It could be a thread setup specifically to ask Sunny King and the Peercoin core dev team questions. Sunny wouldn’t need to go around the forum to answer questions. Everyone could just post all their questions in this one thread.

11

Yes, I was thinking about this recently. I’d have to ask Sunny about it though. It could be a thread setup specifically to ask Sunny King and the Peercoin core dev team questions. Sunny wouldn’t need to go around the forum to answer questions. Everyone could just post all their questions in this one thread.[/quote]

Sounds like a really good idea to me. All the questions and answers could also be hosted on the peercoin.net wiki in a dedicated FAQ section.

Also I think we should keep these recurring live chats to be able to ask for explanations and clarifications on some specific points and talk about the future.

12

Is it just me or did this interview never happened???

When is the next one?

13

My question is: POS = Linux, you never sell high price because anyone can download/compile /modify it freely, thus scarcity is impossible, you cannot convince people to buy PPC @10$ while another copy version @1$, because these two share almost same quality/security level.

However, POW=Linux+ hardware, although software is free, the 300P hash rate hardware network is scarce.

14

[quote=“sabreiib, post:13, topic:2583”]My question is: POS = Linux, you never sell high price because anyone can download/compile /modify it freely, thus scarcity is impossible, you cannot convince people to buy PPC @10$ while another copy version @1$, because these two share almost same quality/security level.

However, POW=Linux+ hardware, although software is free, the 300P hash rate hardware network is scarce.[/quote]
Not sure, as far as I’m aware I can also fork Bitcoin when I can get a few miners together, a few changes to the client and voila, very secure Bitcoin clone. The only reasons why the miners wouldn’t mine my Bitcoin clone is that it doesn’t have a community and developers and therefore any value would plummet quickly and with no expectations no one would mine.

So l think most of the value is derived from the developers and community working on it and with it and the expectations for the future. Security is just one of pillars for the value of the coin imo.

15

[quote=“sabreiib, post:13, topic:2583”]My question is: POS = Linux, you never sell high price because anyone can download/compile /modify it freely, thus scarcity is impossible, you cannot convince people to buy PPC @10$ while another copy version @1$, because these two share almost same quality/security level.

However, POW=Linux+ hardware, although software is free, the 300P hash rate hardware network is scarce.[/quote]

The 1$ copy has not the same community (higher the number of users better the security of the coin).
The 1$ copy has not the same liquidity.
The 1$ copy has no infrastructure.

Google for network effect or try to copy/paste facebook and convince people to switch to yout clone, see what happens.

16

[quote=“Thireus, post:12, topic:2583”]Is it just me or did this interview never happened???

When is the next one?[/quote]

It never happened because everyone got busy. I don’t want to give a specific date when the next one will be available, but hopefully within the next couple months.

17

[quote=“Cybnate, post:14, topic:2583”][quote=“sabreiib, post:13, topic:2583”]My question is: POS = Linux, you never sell high price because anyone can download/compile /modify it freely, thus scarcity is impossible, you cannot convince people to buy PPC @10$ while another copy version @1$, because these two share almost same quality/security level.

However, POW=Linux+ hardware, although software is free, the 300P hash rate hardware network is scarce.[/quote]
Not sure, as far as I’m aware I can also fork Bitcoin when I can get a few miners together, a few changes to the client and voila, very secure Bitcoin clone. The only reasons why the miners wouldn’t mine my Bitcoin clone is that it doesn’t have a community and developers and therefore any value would plummet quickly and with no expectations no one would mine.

So l think most of the value is derived from the developers and community working on it and with it and the expectations for the future. Security is just one of pillars for the value of the coin imo.[/quote]

Everything else being equal…

If with enough innovation and good developers/community, A PoW fork like Primecoin may grow up and build its high hash rate in future. Perhaps not so valuable as bitcoin, but still has its own market share.

However, even with enough innovation and good developers/community, a PoS coin like Peercoin has less probability of becoming success than Primecoin. Because PPC is much more vulnerable to the copy cats than Primecoin.

What a pity our community favorites PPC more than XPM! I’ll say PPC is a very interesting experiment, but has little future, for example, Nubits has already easily copied PPC’s source code and reach the same security level. Is the GOLD so easily copied? :slight_smile:

Last but not least, Linux community is big and good quality, they have Linus Torvald and much much more volunteer developers than the whole crypto currency community, but Linux has no price although it is a VIP in software world. Just because linux has no scarcity at all. What we do is trying to build a business, not a free software development. In future, perhaps many cryptos utilize/copy the excellent fruit of PPC, but none of them will pay for it, and PPC is just as cheap as Linux.

18

[quote=“LeChatNoir, post:15, topic:2583”][quote=“sabreiib, post:13, topic:2583”]My question is: POS = Linux, you never sell high price because anyone can download/compile /modify it freely, thus scarcity is impossible, you cannot convince people to buy PPC @10$ while another copy version @1$, because these two share almost same quality/security level.

However, POW=Linux+ hardware, although software is free, the 300P hash rate hardware network is scarce.[/quote]

The 1$ copy has not the same community (higher the number of users better the security of the coin).
The 1$ copy has not the same liquidity.
The 1$ copy has no infrastructure.

Google for network effect or try to copy/paste facebook and convince people to switch to yout clone, see what happens.[/quote]

Yes, network effect.

Facebook is free, so why people shift from a old free platform to a new free one? Is PPC free? What if Facebook charges 100$ per month and a new platform is free while providing same service?

How can you assure some other developers will not modify PPC’s source code and get a wider distribution than PPC? After all, PPC is open source from the beginning and only several hundreds complete nodes after 2-3 years. Doesn’t free market feel stupid to pay 100$ for every ppc and 1$ for similar products with same quality? People can easily shift from expensive PPC to a cheap one, free software changing is so easy, while changing from PoW to another PoW involves hardware(investment,business) problems.

19

I didn’t buy peercoins because I thought it was a safe investment. I bought it because if it works, the upside incredible. Many altcoins have lost purchasing power, so it’s not strange that peercoins have too. When the flaws in the Bitcoin design becomes more apparent, awareness of Proof-of-Stake will spread. When that happens, Peercoin will be the oldest PoS secured chain. I believe there is speculative value here.

If Bitcoin works as intended, then both Peercoin and Nubits will be redundant and fade away along with most other coins.

It’s just a bet and as the price of peercoins declines, the lottery tickets becomes cheaper.