Is the coin dying?

I am worried about the future prospect of the coin.

  • the price has plummeted recently

But the most worrying part is the lack of update from Sunny King.
What is his plan for primecoin?

I would also be interested in an answer. The Wikipedia page says XPM cannot be mined with GPUs, yet that is exactly what is happening now and perchance killing off all the cloud CPU players.

Dying? We are in the #24 spot of crypto. Not actually that bad. People seem to want to do a rebranding effort, and it has a near spotless record so I see promise.

Price of all crypto has fallen on the back of the falling BTC prices.

At the moment we are at the bottom of a downwards movement on XPM/BTC on 4 hour / 1 day candles from looking at the MACD / MA.

I think we are going to see BTC consolidate around this area, and probably all other crypto do the same. I would expect XPM to get back to 0.00055 at some point but that looks to be the floor.

After that there’s no reason not to expect it to reach 0.0008 or higher again as the markets recover.

XPM is still very GPU and ASIC adverse compared to other coins, but is the only coin with a useful PoW combined with extremely fast confirmation times. When used in conjunction with Peercoin it could be a very valuable coin for payments while Peercoin remains locked up as a savings / backbone coin.

A wallet that combines both coins with a decentralised exchange allowing you to swap between PPC/XPM almost instantly would be a massive step forward.

That would be a great combination. Will need to work harder on XPM acceptance though.

I don’t think so because something doesn’t have to be in number 1 spot to be alive.

I don t think the coin is dying at all now. In fact I got a few days ago an update from Sunny King saying some infrastructure projects are on the agenda.

I think it’s because of bitcoin price declining. Not currency dying.

Yes, PPC is linked to BTC. Bots are driving the market and keep the PPC/BTC ratio stable. If you want to know if PPC is dying, refer to the BTC/PPC ratio.

PPC/BTC ratio going up: People investing in PPC.
PPC/BTC ratio going down: People divesting from PPC.

PPC/BTC ratio is still above the pre-Nubits panic. Which means people invested in PPC for Nubits and kept their coins.

A slow PPC/BTC ratio going down is the fact that people are mining/minting PPC to convert their profits for BTC and that there is not enough buyers to maintain a stable price. Stabilization is reached when miners don’t make more profit mining PPC for BTC (check for that).

At the moment BTC is above PPC for mining profit. Which means the PPC/BTC ratio will remain stable or will eventually go up soon.

So PPC is not dying, but because BTC is dying it has an impact on PPC USD price.

People getting out of PPC (the huge red towers that you may see on BTC-E) are people who got tricked by bots. :slight_smile: PPC is a long-term investment and also the idea that PoS will be accepted by everyone (which may happen very soon when people will realize PoW only is not the answer).

Great post Thireus - Btw, this thread is about XPM

Oops :slight_smile:
Thanks for pointing that out! I’m always so confused about other cryptos we can see on peercointalk, especially when not explicitly shown in the topic’s title :wink:

Well I guess my comments can also apply to XPM, the same methodology analysis can be used (but I’m not into XPM so I can talk).

Great post for someone new to PPC!

I think that if I was a big fan of Primecoin I would want it to move away from Peercoin and start a new forum. I don’t have a problem with the two forums combined, but I just think that it would help them develop their own identity and community.

I think you are right. Cryptocoiner seems to be in charge of primecoin’s marketing. Maybe he has something to say about that.

but because BTC is dying it has an impact on PPC USD price.[/quote]

can you elaborate on why you think so?

I don’t want to start a big debate here. But to be short, we’ve reached BTC’s bubble end of life.

BTC mining will be more and more centralized, no more BTC amateur miners (c.f. the recent difficulty little drop and the massive BTC mining equipment sold on websites like Ebay which are proving it,
The coin’s price was mainly due to hype and people who wanted to become rich (mainly noobs who still prefer FIAT than crypto). On top of that, now that the U.S. gov is after any sorts of new “Silk Road” business, mainly to steal their coins and sell them back in auction, which has a huge impact on the price and is driving it down, there will be less and less blackmarket economy. Which by the way was greatly contributing to the BTC’s market (I’m not saying blackmarket is a good thing, of course it’s not, drugs are bad). But selling crypto that was not hardly earned by its owner has the same impact as stolen crypto or early adopters’ coins being sold.

Again when we’re saying BTC is dead, we are mainly saying that BTC’s bubble popped. Like Litecoin, its price will stabilize way lower than it is now (I expect it to be under $100). Such low price will be painful, but hopefully will not stop crypto’s expansion and development. I think it will probably be a good thing as it will wash away all those noobs and will bring less attention of unwilling governments who are still close-minded and want to protect their FIAT centralized banking system.

What I’m hopping for is that people start realizing that one of the BTC’s death factor is centralized PoW. Hopefully they will hear about PPC or other PoS-based coins, instead of leaving crypto now (investments from BTC -to-> PPC would be good to see).

I agree on the fact that peercoin is much more sustainable (as well as primecoin by the way) on the long run as a decentralized blockchain but that does not mean that automatically bitcoin will be discarded.
First of all the network can raise tx fees in order to pay miners. It would not be a death blow since bitcoin is not appropriate as a currency (the same applies to peercoin). But even if miners vanish in case they do not have the right economic incentives, there is a timeline in which bitcoin could thrive as a purely centralized digital asset or commodity because a large portion of users do not give a s…t to decentralization.
That is why I am rather skeptical regarding its total dismissal right now. I tend to think that bitcoin (and litecoin) will last at least 10 y from now…

Other PoS? which one?
As for Bitcoin becoming “dead” - that is acceptable if there’s a something to take its place, steadily.
Perhaps we are facing a turning point now with Peercoin and its NuBit ecosystem and 1st ATM project

I don’t think that PPC is dying. I just think it is making ground and growing its base users while bitcoin shows its huge problem of mining centralization.

for the moment I’m buying ppc every 2 weeks, because I think PoS is the best way to go for cryptos. And now with the android wallet, it is time for PPC to be used in commerces.

Why every 2 weeks?