Can a client (node) mine using proof-of-work and mint using proof-of-stake both simultaneously? I suppose that it cannot, but don’t see a reason as to why it could not.
You can. But mining with a CPU while everyone is using ASIC is meaningless, even intend to you use your computer as a electric heater.
You can. But mining with a CPU while everyone is using ASIC is meaningless, even intend to you use your computer as a electric heater.[/quote]
No, I don’t intend to mine.
I know that at the moment it is more profitable to mine (using ASICs). But my question is more from a protocol standpoint: Given that mining is meant simply to distribute PPC and that eventually all new coins are to be generated by minting alone, why should the client continue to mine if it has enough stake to mint? Thanks.
The client will not mine at all unless told to, which a user wouldn’t do without dedicated mining equipment, not a typical PC. A user could mine and mint at the same time, if they had mining equipment and peercoins, but they would probably use separate devices for each purpose due to the inefficiency of mining with a CPU.
Also note that the PPC distribution via mining approaches zero, but will not reach it, unless some change is made to the underlying protocol. The reward from mining is in inverse proportion to the total hash power of the mining network.
Regardless of whether or not mining and minting are happening on the same device, what would happen if, hypothetically, this client generated a PoW block and a PoS block at the same time. Will both blocks be accepted by the network? If not, then which block would be accepted and which would be rejected, and why?
Also, are the addresses for POW mining and POS the same or different?
Again, I don’t intend to either mine or mint right now, but want to understand the Peercoin protocol well.
I haven’t tried but I think both block will be accepted independently. They will have different addresses.
If you unlock your wallet for minting, or don’t set a passphrase for the wallet at all (non-encrypted), you’ll attempt to mint.
If you include the command “gen=1” in your ppcoin.conf file, or type it in from the debug console, you’ll start to mine with your computer.
There’s no protocol-enforced limitiation for using them together.
Regardless of whether or not mining and minting are happening on the same device, what would happen if, hypothetically, this client generated a PoW block and a PoS block at the same time. Will both blocks be accepted by the network? If not, then which block would be accepted and which would be rejected, and why?
They are separate blocks, so, in the ultra-rare situation that you find yourself doing it on the Peercoin Live network, both blocks would be accepted, and you would receive a block reward for the PoW block (at the current payout for that block’s difficulty) and a block reward for the PoS block (based on your stake’s total accumulated coin age).
You could conceivably recreate this on a private testnet, but I’d wager that the probability of it occuring in the wild at the current PoW and PoS difficulties approaches zero.
Is it possible to mint from more than one computer (with the same unspent outputs)? Does that have any benefits?
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.[/quote]
Do you get the package sooner?
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.[/quote]
Do you get the package sooner?[/quote]
You don’t. Either person might find the package in your mailbox first, but you still only get one mailbox with the same number of packages.
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.[/quote]
Do you get the package sooner?[/quote]
If it worked, POS would be POW.
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.[/quote]
Do you get the package sooner?[/quote]
If it worked, POS would be POW.[/quote]
Okay. I get it now. What is the cap of peercoin (i.e. Bitcoin has 21 million). What will happen to the 1% annual return when the cap is reached (if there is a cap)?
It’s like having two people check your mailbox at the same time. It works, but you don’t get twice as many packages.[/quote]
Do you get the package sooner?[/quote]
If it worked, POS would be POW.[/quote]
Okay. I get it now. What is the cap of peercoin (i.e. Bitcoin has 21 million). What will happen to the 1% annual return when the cap is reached (if there is a cap)?[/quote]
There is no cap.
There is no cap, but inflation stays low, so your investment still retains its value against inflating supply.
This currency model is actually more stable than Bitcoin’s hard cap. For more information on that, check this section of the Intro to Peercoin video. The rest of the video is lengthy, but it might answer some of the questions you’re about to ask. 
There is no cap, but inflation stays low, so your investment still retains its value against inflating supply.
This currency model is actually more stable than Bitcoin’s hard cap. For more information on that, check this section of the Intro to Peercoin video. The rest of the video is lengthy, but it might answer some of the questions you’re about to ask. :)[/quote]
Very cool, thank you. Last question for now: I understand the PoS/PoW hybrid peercoin has, my question is: are people using ASICS for the PoW (like old bitcoin BFL’s, or maybe a peercoin specific ASIC)? Or is GPU mining still feasible?
yep ASICS, same as with Bitcoin
Peercoin mining uses the same algorithm as Bitcoin mining, so GPUs are not power efficient enough to compete with ASICs. Anything that’s true of Bitcoin mining would also typically be true of Peercoin mining. There’s no such thing as a “Peercoin-specific ASIC” since the two algorithms are the same.
Peercoin mining uses the same algorithm as Bitcoin mining, so GPUs are not power efficient enough to compete with ASICs. Anything that’s true of Bitcoin mining would also typically be true of Peercoin mining. There’s no such thing as a “Peercoin-specific ASIC” since the two algorithms are the same.[/quote]
You should put this text directly to the mining page of the peercoin site.
The written portion is pretty much set in stone, but I’ll try to integrate this into the mining video. Good idea!