Parallels with NXT


#1

source: https://nxtforum.org/general-discussion/what-are-the-worst-events-that-ever-happened-to-nxt/msg218015/#new

Found interesting post on NXT forum.

The worst "event" was the slow and steady drain of human capital. Talented and/or engaged people left completely or went on to do their own projects. That showed that the DAO of original stakeholders didn't work due to tragedy of the commons aka hodling. The social experiment of relying on original stakeholders self-interest to fund the development and marketing failed. Also a global consens on what development and what marketing to fund couldn't be reached. IMO it is good to go more corporal instead of decentral with allocating 50% of transactional token to the core team. Company-like organisations are more probable to survive than decentralized organisations under the current anthropological conditions. Decentralization is only needed and necessary for verification of transactions!

Do you see the parallel with Peercoin?
What do you think about this?


#2

I think there is a parallel. I would guess that the reason this thread received no replies in 7 days is exactly in your quote: “Talented and/or engaged people left completely or went on to do their own projects.” ::slight_smile:


#3

Maybe they’ll come back some day? :slight_smile:


#4

It’s true. Even I am not even here.

Oh, wait! I am. :slight_smile:

What I appreciate is that PPC still has yet to release v1.0

What does that say about us vs many of the other competing coins? Sunny purposely designed Peercoin to fulfill a need that isn’t quite here yet obviously.

This is a long term coin, with a long term use.


#5

I actually disagree that there is much of a parallel. The reason I never really got excited about NXT is because its value proposition at the time of launch was based on planned development and “blockchain as service.” In that regard it was more a progenitor of Ethereum and bound to always be supplanted as technology evolves…

Peercoin, on the other hand, is designed fundamentally as a scarce asset with low transaction cost. It was never promoted as a rapidly evolving software suite. It cannot easily be supplanted because of its place in blockchain history and the fact that fair and meaningful distribution becomes more and more elusive over time.

Once you have a bounded and well-distributed resource like Peercoin, any number of decentralized services can be layered above it when the time is right.

Let’s face it, there has never been a large panel of talented and engaged developers working on Peercoin (NOT to detract from the few who have made and are making tremendous contributions!). Partly, this is due to the fact that it has historically been much more profitable to launch a new coin than to contribute to a public good like Peercoin.

Investing in Peercoin requires looking toward the bigger picture and thinking on a larger timescale. Sunny King has established a very conservative pace and as a result the project has spread into many hands without ever being castrated by a rollback. It is a rare mind that can be both brilliant and disciplined. Just look SK’s weekly updates going back almost 4 years - that’s approaching twice the length of time Nakamoto stayed involved with Bitcoin!


#6

[quote=“ppcman, post:4, topic:3923”]It’s true. Even I am not even here.

Oh, wait! I am. :slight_smile:

What I appreciate is that PPC still has yet to release v1.0

What does that say about us vs many of the other competing coins? Sunny purposely designed Peercoin to fulfill a need that isn’t quite here yet obviously.

This is a long term coin, with a long term use.[/quote]

Yes.

I dare say that if Bitcoin works, then there is no need of Peercoin. If Bitcoin doesn’t work and it is PoW that is at fault, then Peercoin is the oldest hence most proven coin, to run using an alternative to PoW. Even if there is no need of Peercoin, it could still catch the network effect if interesting cool things happens here.

Anyway… if Peercoin was a pure PoW coin it would die because no-one would spend enough resources securing it. As it is, it will be able to sustain itself because its basically free cost of securing it once you bought the coins, but ensured loss not securing it.

I.e. am saying that Peercoin can probably survive a nuclear crypto winter and still come out on top. Not 100% sure, but with the price of Bitcoins right now, buying peercoins right now as a hedge is very cheap.

Buy some peercoins, not to many, so you don’t have to worry too much and H a v e F u n !


#7

Have the same feeling