New Peercoin Thread on BitcoinTalk

General
1

Is the original launch thread our only long-term presence on BitcoinTalk? If so, then we should create a new thread to have all discussion of Peercoin developments in one place, as well as helping new people to get started with links to downloads and guides etc. I saw a few requests for this in the original thread and noticed several other established coins starting new threads as well.

Do you agree that this is a good idea?

I will start building material here for the new thread. You can help out by doing some of it yourself or by posting suggestions of things you would like to see.

2

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Peercoin is the original Proof of Stake cryptocoin, offering increased security and sustainability.

Peercoin.net - PeercoinTalk Forum - Chinese Forum - Reddit - Twitter - Facebook

Freenode IRC: #Peercoin - QQ group ID: 288203224

New Peercoin Video - Peercoin Presentation [/center]

[size=12pt]Getting Started

Client Downloads
Peerunity (Recommended) - Community client with added features - Downloads for Windows, OS X and Linux - FAQs
Official v0.4 Reference Client - Downloads for Windows and Linux - Download for OS X

Minting
Minting secures the network with Proof of Stake and receives a 1% annual reward.
Proof of Stake Calculator
Minting Guide

Mining
Peercoin retains Proof of Work for a fairer distribution than an IPO or brief initial mining phase.
SHA-256. Mining Pools: Blockmines, Ecoining, D7, Fixx, Coinotron

Peercoin Tools and Services

Exchanges
BTC-e
Vault of Satoshi
Cryptsy
Bter
btc38
Vircurex

Block Explorers
bkchain
blockr
peerchain
hibitcoin

Merchants
CoinURL
TorGuard

Online Wallets
HolyTransaction
bkchain (experimental)

Peercoin Developers

Core Development: Sunny King and Sigmike
Peershares Development: Jordan Lee, Sigmike, FuzzyBear, Ben, Pennybreaker, SirCoinGame, David [/size]

[size=12pt]Why Peercoin?[/size]

[size=12pt]Peercoin is based on Bitcoin’s revolutionary technology. Like Bitcoin, Peercoin has an anonymous developer or team of developers going by the pseudonym of “Sunny King”. Peercoin was developed in 2012 in response to growing concerns being raised on the Bitcoin forums about its sustainability and long-term health. One of these concerns is how Bitcoin’s distributed network will be maintained. Bitcoin uses what’s called “Proof of Work”. Peercoin introduced the concept of “Proof of Stake” as a long-term replacement for Proof of Work.

The main advantages of Proof of Stake are its extraordinary resistance to centralization…the so-called 51% attack that you may have heard about. In addition, Proof of Stake greatly reduces the energy demands of the distributed network.

Here’s how it works: Each node in the network has but one task – verify transactions. Anyone with a Peercoin wallet can participate. Participants are rewarded based on the number of Peercoins they hold. This is called “minting” and produces a 1% annual return, which is the reward for their Proof of Stake. So little computing power is required to maintain Peercoin’s network that even hardware with minimal capability such as a Raspberry Pi can participate.

There is no longer any reason to pool together computing resources and form alliances, so the threat of a 51% attack essentially vanishes. To gain control of the Peercoin network, an entity would need to acquire 51% of mintable coins. Attempting to purchase the amount of coins necessary to carry out an attack would drive the price up to astronomical levels, making it counter-productive for an attacker because they would be forced to risk their entire investment.

Peercoin uses a hybrid or blend of Bitcoin’s PoW and the PoS systems. Peercoin launched as PoW but has been gradually transitioning to PoS. It will become entirely PoS after a number of years. Why the combined approach? The reason is PoS doesn’t have a fair way of introducing coins into the community user base. It’s critical to prime the system with an initial distribution to get it going. One option is to generate all the coins immediately and sell them to the earliest adopters, but this isn’t very fair. Despite its shortcomings, PoW is very good at jump-starting the system in a fair way.

It is important to state that Peercoin is not intended to be a replacement for Bitcoin or Litecoin. Each currency is good at some things and not-so-good at others. Peercoin was designed to be a store of value. A rough analogy is that Peercoin is a savings account while Bitcoin and Litecoin are more like checking or spending accounts.

Peercoin has a fixed fee of 0.01 PPC per transaction. This amounts to several cents at current exchange rates. It is important to note that the fee is immediately destroyed, which offsets new coin generation due to minting. In this way, Peercoin is neither inflationary or deflationary. It also makes the currency very stable by design and potentially a long-term store of value. Another advantage of the fee is to limit frivolous, micro-sized transactions that can result in an enormous blockchain.[/size]
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Peershares.net - Peershares GitHub Wiki - Quick Introduction Video

Peershares Test Client Downloads for Windows, Linux and OS X
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[size=12pt]Peershares are an inexpensive and decentralized ledger to be used by businesses for tracking share ownership and distributing dividends in an automated fashion. Shares can be transferred and held just like other cryptocurrency units, such as Peercoins or Bitcoins.

Using Peershares, individuals, businesses, or organizations of any size could raise funding through an initial offering without depending on a third party such as a stock exchange. While trading shares through exchanges will be useful to provide liquidity, Peershares can be traded on any number of exchanges just as Peercoins can.

Each business using Peershares will have their own blockchain that is independent of all others. Blockchains can be secured cheaply and easily using Peercoin’s Proof of Stake, once the initial (issuer-controlled) shares has been generated using Proof of Work.

Issuers can distribute dividends as Peercoins, which can then be held by the investors, or if they would prefer, can then take those dividends and convert them to another cryptocurrency or fiat through their preferred exchange.

A share issuer is not vulnerable to the failure of single stock exchange such as BTC Trading or Litecoin Global.

Most importantly, Peershares are accessible by anyone. The template is open-source, and free to download.[/size]

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Peer4Commit.com
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[size=12pt]Contribute to open-source Peercoin projects & earn tips at Peer4Commit.com. It is a website where people raise funds for any kind of project. The goal is give the initiative to the people, and not only to those who are able to achieve projects.[/size]

[size=12pt]View the original Peercoin launch thread here[/size]

3

Let’s hold off talking about NuBits, for now, please.

4

Ok, no problem.

5

I don’t even use the old thread. A new one containing updated information would be a good idea. I’d like to be the one to post it if possible, so I can keep it updated. We can also use it to link to new announcement threads we create. I’ll take a look at this later to see what else we can include in it. Can you link to some of the other threads that different coins have made? I’d like to see how they setup their threads.

6

Yes it’s fine if you post it. Examples: Worldcoin, Nxt.

There are a few other nice ones but I can’t remember which coins they were. Also, many of these threads seem to be self-moderated, not sure if we want our’s to be.

7

This is a good idea!

8

I have been watching that thread and consider it the official Peercoin thread on bitcointalk.com. I don’t see problem using it. It has history. I suspect I am not the only one. Apparently much of the talks about Peercoin is happening here at peercointalk.org. That is the reason why little is happening in the bitcointalk thread. I don’t see opening a new official thread on Peercoin at bitcointalk will help. But I can be convinced if there is a good case for a new official thread.

9

I have been watching that thread and consider it the official Peercoin thread on bitcointalk.com. I don’t see problem using it. It has history. I suspect I am not the only one. Apparently much of the talks about Peercoin is happening here at peercointalk.org. That is the reason why little is happening in the bitcointalk thread. I don’t see opening a new official thread on Peercoin at bitcointalk will help. But I can be convinced if there is a good case for a new official thread.[/quote]

The point of this new thread would be so we can include important information and links in the first post for people new to Peercoin. We could also alter its contents and add things whenever necessary. We can always link to the old announcement thread in the first post, so people can still access that history.

10

Wow, I really like the way they setup the NXT thread, lots of information and links all organized and attractive looking graphics. I think we should model that thread. It looks like you’ve already started to do that River.

11

OK, I can see the value of a community-maintained Peercoin information and support thread. The NXT thread is nice.

It will inevitablly become a discussion thread. Many people at bitcointalk have excellent insight in POS coins and they may not always have good things to say about Peercoins. We can debunk myths and correct misinformation.

12

Definitely support this, but we need to be careful not to create another discussion platform. I would see it more as informational and a marketing tool like NXT uses it. Like a Facebook or another portal beside the website. I noticed that real NXT discussions still happen on their own forums.

Always link to discussions on peercointalk.org or peercoin.net or open a thread to continue very specific discussions. It should be about spreading information and busting FUD in the first place as others have said in their posts.

13

[quote=“Cybnate, post:12, topic:2558”]Definitely support this, but we need to be careful not to create another discussion platform. I would see it more as informational and a marketing tool like NXT uses it. Like a Facebook or another portal beside the website. I noticed that real NXT discussions still happen on their own forums.

Always link to discussions on peercointalk.org or peercoin.net or open a thread to continue very specific discussions. It should be about spreading information and busting FUD in the first place as others have said in their posts.[/quote]

Totally agree. I can use it as another way to spread information and news besides Facebook, Twitter and Reddit. That would allow me to constantly bump the thread.

14

I made loads of changes. I realize that there is quite a lot of text but I think it shows that Peercoin actually has substance compared to other coins, who would struggle to write a couple of paragraphs about why they should even exist. I’m open to suggestions though.

It could probably also be improved visually but I’m not sure what to add. The links don’t look great in blue so I changed most of them to black but with the important ones in green. There might be a better way to do this.

I hope this is on the right track at least…It took a long time to make.

15

I think it looks good and I like the green :wink:

Maybe split up the 3rd paragraph under Why Peercoin at There. Shorter paragraphs read easier.
Thought about headers, but don’t think that works as you already have a lot of other headers

BTW I thought our coin had a slightly inflationary tendency due to the mining, but I might be wrong.

16

Yep, that’s exactly what we can see on this chart: http://cryptocities.appspot.com/peercoin-blocks-rewards-stats.html

Still more than 2000 PPC are mined everyday even if it’s decreasing slowly.

(and one guy on ecoining pool gets about 25% of them https://peercoin.ecoining.com/index.php?page=statistics&action=pool)

17

I might want to try out a couple things to make this look better when I get some extra time. I won’t touch your post River, I’ll make a new one if I have to.

18

Yes. I took most of the Peercoin text from sportscliche’s notes for the presentation. I think it was meant as attempting to strike a balance between deflation and inflation, but maybe I should change it to make it clearer.

Sure, make any changes you want.

19

Sentinelrv’s great new thread is now up: https://bitcointalk.org/index.php?topic=793142.0

Please keep it bumped. It is important for us to regain a presence on BitcoinTalk.

20

[quote=“river333, post:19, topic:2558”]Sentinelrv’s great new thread is now up: https://bitcointalk.org/index.php?topic=793142.0

Please keep it bumped. It is important for us to regain a presence on BitcoinTalk.[/quote]

Thanks River. I used your thread here as a reference for different things, so it was not in vain.