As someone that holds a significant amount of Litecoin, I would rather see their community get organized and move ltc forward than focusing on childish snips at Peercoin.
Meanwhile, Peercoin continues to organize and make significant steps forward.
They are seeing PPC as the threat to their number #2 coin. I don’t see LTC gaining more value against btc in medium term, it’s clearly way overpriced. I converted all my LTC to BTC at 0.045-0.033, and still hodling tight on PPC.
What value LTC had in offering a safe haven alternative to bitcoin and the risks of SHA256 mining dominance, forks or errors etc has quickly diminished with the release of BETTER code that addresses the situation in a different and better method. We should not be afraid of ASIC devices… merely the possibility of too much power falling in the hands of too few individuals. SHA256 is the way to POW mine. So much $$ investment and R&D gone into mining devices… why recreate the wheel only forcing yourself to use different harder materials to achieve the same goals??
POS has shown it has traction with coins like NXT purely POS coins being released, but they have found the distribution element hard to decentralize. That is why I like Peercoin so much. It has been round long enough to have big holders come and go… myself included, I could have over 1,000 BTC had I held all my PPC that i mined.
I think people realize as well that by holding btc in ur wallet (or LTC, FTC, TRC any none POS coin) u are never going to see your coins go up in your wallet like you do the money in your bank year on year from interest. I think that the BTC price is too volatile for investors just to hold their coins and wait for the exchange prices to increase. People want to see their coins doing something in their possession or they will invest it elsewhere (say stocks and shares for dividend payout, or buying mining hardware to try mine more btc than they spend). With PPC there is an incentive to hold a large pile of coins and try live off the POS blocks mined (essentially this is what I am trying to set myself up for) This way you feel your total coins continue to grow and u can cash some out when needed and the price is right.
With fewer PPC being minted per day than BTC and the price PPC traded on the exchanges pushing new all time highs its not surprising to see the top 100 addresses cash some PPC out, but its a trickle into the market so the speculation is that the price will go much higher and this steady growth I think will continue for a long period of time. I would expect an increase in the POS difficulty as well soon and this may have other knock on effects… all pushing the PPC price higher in my estimation.
Sorry to hear LTC is not rising as PPC has been of late, but invest where you believe the future is not where you have large holdings in a coin!! I would have liked to see the LTC community come together with PPC to offer merchant packages and adding to exchanges of both LTC and PPC maybe Gox would listen in a 2 pronged attack. But threads like that from the LTC community suggest that they would not be very welcoming to us or open minded about promoting more than just their currency. I would be more inclined to get together with the FTC community in light of this and having met their representative at london conference… was great to see the LTC team there!! (sarcasm btw :P)
What have been the big advancements that has put LTC above and beyond PPC services wise? better pools? block explorers? more stores accepting? from what I remember and can see there are not really many LTC stores … agreed not many PPC but not as if they have a massive majority there. Better exposure from Max Keiser i guess… and they have more pools and nodes running for the client. I think we really need to get 0.4 PPC out, and push the latest action items and in 6 months time PPC will be just as strong on the network side of things. One concern i had and was raised by others is pool dominance in PPC… we need to keep diversification on the pools and everyone make sure u have back up pools set for your miners… but wait with POS its less of an issue but we sort this as well and there are no weaknesses for anyone to poke a hole in or try and make a fuss out of.
Keep up the excellent work Peercoiners and don’t let angry others get u down or make u angry. Stick with what you believe in and agreed this is actually just wasting time that could have been spent developing a cool new merchant API for peercoin or litecoin so keep it all in perspective. SunnyKing had a LOT of harsh critism when he launched Peercoin and he got bogged down in it as a few users started to get to him… if u find urself in moment like this, best to do as he did, step away for day or two and do something completely different. Come back with new eyes on the subject.