Right. Peercoin is designed should this happen, even with the 0.01 transaction fee included.
No. If you want to buy Candy, then use Litecoin, or something else even faster, with a different design.
Yes. This is why 0.4 has been developing over the last 3 or 4 months and is going to be released soon. I’m excited to see what it contains.
It might help the article to be more specific in terms of actual energy efficiency comparison. At the moment Peercoin is running about 75% more energy efficient than Bitcoin in terms of value being secured vs energy output and cost to secure it. I venture to guess that this will be a huge deal in a few years. And as time goes on the ratio should get even better. Peercoin will get more and more energy efficient as time goes on relatively speaking in terms Value Secured/GigaHashes
My advice for marketing strategy:
Emphasize the similarity of Peercoin and Gold. Gold is heavy to move, similar to a relatively high transaction fee. Gold is for store of value, so is peercoin. Gold became a natural choice of value reserve due to its features, so will peercoin.
Also the 0.01ppc transaction fee is a minor counter balance of the 1% ‘inflation’.
Another random thought: Peercoin is more like DNA, bitcoin/litecoin more like RNA. RNA does all kinds of job, but for long term information store DNA is the only choice because it is more stable.
I think the design of peercoin is influenced by Austrian school of Economics. Maybe we should emphasize this aspect? Hayek’s idea about ideal monetary system is to have several currencies circulating and let them competing in the market. If people begin to appreciate this ‘competing currency’ idea I think it will give peercoin more chance.
I totally get what you are saying, and it reminded me a thought I had last night.
Rather than a “competition” between currencies, I believe it’s in Peercoin’s best interests to market itself as a “complementary” currency.
It may be semantics, but if we’re the ones who make sure to talk about the cryptocurrency ecosystem, in whole, where different monetary instruments serve particular purposes, I’m certain that we’ll get the message across about Peercoin’s usefulness.
Let other communities carry on with their divisive talk, but as advocates for what Sunny designed to be the “moral coin,” we need to hold ourselves to a high standard.
Sorry if this ranges off-topic a bit, but there seems to be a central tension between the saving account concept and the inherent inflation in PPC that I haven’t quite figured out yet.
PPC is inflationary. Along with other features of the coin, this would seem to serve to keep the value coins much more stable (including minting). I believe this is a positive feature to encourage general use as a currency. Contrast this with Bitcoin. It is designed to be deflationary, therefore people will hesitate to spend and tend to hoard. Already, then, Bitcoin seems to more naturally fit the savings account while Peercoin has stabilizing properties that would seem to make it perfect as a frequent medium of exchange.
The odd property out would seem to be the inflexible transaction fee which discourages frequent transactions. I understand how such a feature would benefit a gold-like asset, but I’m not sure, given the current situation, how Peercoin would make that jump. Someone invested in cryptos right now will look at the two and prefer Bitcoin for that role, and I’m not sure what situation would change their minds. It would seem that Peercoin could only make that transition as long as BTC hits a very long period of miniscule growth with little future potential. I don’t see that point coming very soon.
I’m really curious to hear more thoughts on this.
[quote=“Ben, post:24, topic:1026”]I totally get what you are saying, and it reminded me a thought I had last night.
Rather than a “competition” between currencies, I believe it’s in Peercoin’s best interests to market itself as a “complementary” currency.
It may be semantics, but if we’re the ones who make sure to talk about the cryptocurrency ecosystem, in whole, where different monetary instruments serve particular purposes, I’m certain that we’ll get the message across about Peercoin’s usefulness.
Let other communities carry on with their divisive talk, but as advocates for what Sunny designed to be the “moral coin,” we need to hold ourselves to a high standard.[/quote]
I like this. It’s also true. The dollar and gold complement each other. One is for microtransactions. The other is for long-term store of value. The relationship between Bitcoin/Litecoin and Peercoin should be the same. Marketing it this way as a complementary cryptocurrency also gives us the benefit of not having to engange in marketing warfare with the other cryptos. A lot of people are supporters of different cryptos and as soon as you start criticizing their favorite coin and promoting your own they stop listening to you and get defensive. This recent video is a perfect example…
http://www.youtube.com/watch?v=g6E_ajlGlPc&feature=youtu.be
If we marketed Peercoin as a complementary cryptocurrency, I don’t think that person would be as defensive as they are in the video. We need to let them know that they need Peercoin just as much as we need Bitcoin/Litecoin. It’s not a competition for us. It’s a symbiotic relationship. What do you think?
It seems to be a lot of different things to a lot of different people. If BTC is the currency to PPCs gold – i.e., a better store of value with currency characteristics that make it better for larger purchases – then perhaps that is the space we should try to own. It’s the investment/savings account that is used for large purchases.
This actually makes a lot of sense. Like any true ‘investment’, it is used for the big purchases in life. I don’t sell stocks, bonds or gold to buy paper towels – I sell stocks, bonds and gold to buy a car or a house. Now we are talking ‘better future new asset class’ vs BTC and should be thinking along the lines of high finance.
[quote=“Sentinelrv, post:1, topic:1026”]Cons:
• .01 Peercoin transaction fee means that Peercoin is less liquid and less multifaceted in use than competitors. It would be impractical to use in everyday transactions, a stock market, or anything with high transaction volume. This will only become more true as its value increases.
[/url].[/quote]
I disagree – this should not affect its ability to be traded through an ETF, hedge fund or stock market. Anything with a secondary market where shares are traded according to NAV on top of an underlying asset - the underlying asset should not change hands very much. And if it did, it would be huge transactions of which .01 PPC would be minuscule.
I agree with others in that it takes time to wrap one’s head around PPC. I think this is because everyone initially became familiar with BTC, and one could not have assumed there would be so many different facets to PPC (one doesn’t know what one doesn’t know). I do not consider myself a ‘B) Early opportunist’ although headlines do initially peak my interest. I am very familiar with conducting research. The differences in BTC and PPC have not been clearly communicated and I am not sure I know all of the ins and outs.
I would say that NOW is the right time to streamline the message because it is very difficult to make up for missed opportunities. The message needs to be tight so it’s there when the time is right because we often do not get ‘do overs’ and who knows what the next few months will bring. Although I have an extremely long term view – I tend to think that the near term is key as to the cultivation and survival of alt-currencies.
You should care about B & C because they propelled BTC and are currently making alts rise in relation to BTC. I’m not a fan of blind speculation but it is very much needed to get to where we need to be. Luckily, in the short term PPC goes along for the BTC ride so I guess that buys a little time.
PPC needs to complement. But what is the complement? The basic question Barrios posed is the same question that others will be asking.
[quote=“Sentinelrv, post:26, topic:1026”][quote=“Ben, post:24, topic:1026”]I totally get what you are saying, and it reminded me a thought I had last night.
Rather than a “competition” between currencies, I believe it’s in Peercoin’s best interests to market itself as a “complementary” currency.
It may be semantics, but if we’re the ones who make sure to talk about the cryptocurrency ecosystem, in whole, where different monetary instruments serve particular purposes, I’m certain that we’ll get the message across about Peercoin’s usefulness.
Let other communities carry on with their divisive talk, but as advocates for what Sunny designed to be the “moral coin,” we need to hold ourselves to a high standard.[/quote]
I like this. It’s also true. The dollar and gold complement each other. One is for microtransactions. The other is for long-term store of value. The relationship between Bitcoin/Litecoin and Peercoin should be the same. Marketing it this way as a complementary cryptocurrency also gives us the benefit of not having to engange in marketing warfare with the other cryptos. A lot of people are supporters of different cryptos and as soon as you start criticizing their favorite coin and promoting your own they stop listening to you and get defensive. This recent video is a perfect example…
http://www.youtube.com/watch?v=g6E_ajlGlPc&feature=youtu.be
If we marketed Peercoin as a complementary cryptocurrency, I don’t think that person would be as defensive as they are in the video. We need to let them know that they need Peercoin just as much as we need Bitcoin/Litecoin. It’s not a competition for us. It’s a symbiotic relationship. What do you think?[/quote]
Expanding on this, I think we’d need a new slogan that represents the idea better. Right now it’s “The Sustainable and Secure Cryptocurrency”. I vote for the following slogan…
“The Gold Standard of Cryptocurrency”
That pretty much sums up what Peercoin is trying to be right?
Platinum
It’s rarer than gold, and (currently) commands a higher price per troy ounce.
If the past had the “Gold Standard,” and the current narrative is that “Litecoin is the silver to Bitcoin’s gold,” why not position Peercoin as the future’s “Platinum Standard” and keep ourselves out of the comparative fray completely?
Very true. It seems that many of the popular up and coming alts have tight messages that are more valuable than their technical specs. We need to agree and vigorously expound on a message now (whether it is the existing sustainability/efficiency claim or something else) before another coin breaks mainstream headlines with it.
[quote=“Sentinelrv, post:28, topic:1026”]Expanding on this, I think we’d need a new slogan that represents the idea better. Right now it’s “The Sustainable and Secure Cryptocurrency”. I vote for the following slogan…
“The Gold Standard of Cryptocurrency”
That pretty much sums up what Peercoin is trying to be right?[/quote]
I feel like the term Gold Standard implies sustainability and security, but isn’t transparent/explicit enough to hook an average Bitcoin user today, or prod them into investigation Peercoin. I’ve known about PPC since it was released but only started to analyze its brilliant technical aspects after this recent wave of great PR
[quote=“Ben, post:29, topic:1026”]Platinum
It’s rarer than gold, and (currently) commands a higher price per troy ounce.
If the past had the “Gold Standard,” and the current narrative is that “Litecoin is the silver to Bitcoin’s gold,” why not position Peercoin as the future’s “Platinum Standard” and keep ourselves out of the comparative fray completely?[/quote]
I understand exactly what you’re saying here and the reasoning behind. I’m just not sure “The Platinum Standard of Cryptocurrency” has the same ring to it. I’m not saying it doesn’t. I’m saying I’m unsure. People recognize the gold standard and what it represents, but I’m not sure if they’d immediately make the same connection if you called it the platinum standard. Wouldn’t it be best to go with what more people are familiar with?
First, do people think this is the right direction to go with the slogan? I think it’s the perfect fit for what Peercoin is trying to achieve. Second, if this is the direction we want to go in, do you think it would be best to put it up for a vote? I could make a new thread solely about this issue.
Edit: Plus there’s the fact that our logo is gold, not platinum. The logo and slogan wouldn’t match. Not sure if this is a big deal though.
[quote=“trny, post:30, topic:1026”][quote=“Sentinelrv, post:28, topic:1026”]Expanding on this, I think we’d need a new slogan that represents the idea better. Right now it’s “The Sustainable and Secure Cryptocurrency”. I vote for the following slogan…
“The Gold Standard of Cryptocurrency”
That pretty much sums up what Peercoin is trying to be right?[/quote]
I feel like the term Gold Standard implies sustainability and security, but isn’t transparent/explicit enough to hook an average Bitcoin user today, or prod them into investigation Peercoin. I’ve known about PPC since it was released but only started to analyze its brilliant technical aspects after this recent wave of great PR[/quote]
Is reserve currency more explicit to you?
“The Reserve Cryptocurrency”
“The Reserve Currency of Crypto”
They sound more explicit, but I don’t think they sound as good. The last one sounds like I’m talking about the planet Crypto, lol!
Rather than painting ourselves into a marketing lingo corner, let’s wait for 0.4 (due out within the next couple of weeks)
Once we all see what Sunny King has delivered, we might come up with a better way to market Peercoin.
In the meantime while thinking about it, be sure you have a short description and long description ready.
For instance, if you said “The Gold Standard of Cryptocurrency”, be ready to back that up with a prepared statement both (1 line sentence and a short paragraph as well)
The Gold Standard of Cryptocurrency - here is a one-line sentence that defines the tagline further
…and also a short description too:
The Gold Standard of Cryptocurrency - here is an even longer “short paragraph” of the tagline that could be used as a brief paragraph or summary. So that any altcoin who attempts to use a similar “catch-phrase” would have to explain why they use that, similar to this paragraph here. It should be 3 or 4 sentences.
Media likes this stuff too… Imagine a newspaper or radio talk show, with the following “fill in the blank areas”
“Peercoin refers itself to as [tagline] because of [one-sentence reason], and while we are discussing it today, we’ll include [short paragraph description]”
Are these descriptions that would go on the website?
They are descriptions that you’d have in your Presskit or Mediakit available on the front page of the website.
Especially since, all it would take is for some moron in bitcointalk to go: “Hahahahaha Peercoin says it is [tagline/slogan]. Why would they make such a claim?”
…then you simply pull out the longer description(s) of your tagline from your mediakit or presskit (available on the frontpage of the website)
Also, if any of you have filled out an AddURL for your website before on a search directory, or included your blog in a directory listing, what is they usually want:
site name:
tagline / one line description (slogan):
short description (one paragraph):
keywords: …etc.etc…
If you want press, you should have “Royalty-free images, video, descriptions, and content” ready for use with a Creative Commons “attribution” license that is easily accessible from the main page of your website.
This way a journalist or TV news team who has an 8 hour deadline to put something together quick, can go find, and grab what they need quickly. They don’t have time to go read forums as to why Peercoin calls itself [tagline]. If it is not readily available in the mediakit link from the main website, then it doesn’t get published.
If you want media coverage, think like they do. Most of the time, daily news has mere hours to cover the latest story. A presskit helps them immensely.
Sure, magazines, or columnists and bloggers can research a story for a few days before publishing. Maybe they have time to figure out why Peercoin claims it is [slogan/tagline]
If there is a sudden surge in price in Peercoin, this stuff has to be ready NOW.
It’s common for any large company to have an official PressKit package ready to go, so that the news media can use the materials from it, and quote from it, without worrying whether or not the information they are getting is official or not.
I like this…it’s an immediate classic.
ppcman, if this has to be ready now in case of a price surge (Which could literally happen at any time) then we can’t wait until Sunny releases the next version of the client. I don’t really see what waiting will do anyway. We already know what Sunny’s intentions for the coin are. Unless we are misunderstanding him in some significant way, I think we should put some slogans up for a vote and get this done. We can then fill in the sentence and short description after voting is over. What do you think?
Here is another submission from Locomocco on Reddit…
“The Green, Gold Standard of Cryptocurrency”
“What I like about “The Green, Gold Standard of Cryptocurrency” is that we have both green and gold in the logo. The two play off each other nicely. On top of that, that slogan states what I believe are the two of the top three great attributes of PPC that Sunny was striving to create in the first place: 1) minimal energy 2) acts like gold 3) very high security/decentralization.”
[quote=“Sentinelrv, post:38, topic:1026”]Here is another submission from Locomocco on Reddit…
“The Green, Gold Standard of Cryptocurrency”
“What I like about “The Green, Gold Standard of Cryptocurrency” is that we have both green and gold in the logo. The two play off each other nicely. On top of that, that slogan states what I believe are the two of the top three great attributes of PPC that Sunny was striving to create in the first place: 1) minimal energy 2) acts like gold 3) very high security/decentralization.”[/quote]
The “comma” after the word green is too annoying and complicated when speaking it out loud.
Try:
“The Green and Gold Standard of Cryptocurrency”
– small description of why: Green for energy savings, and Gold for security and high value coin storage
– longer paragraph description: ???
Someone else pick up where we’ve left off here please. I’m taking a needed break.
If anyone has anymore submissions for the slogan please post them now. I’d like to create a voting thread today at some point. Right now we have the following:
Any more I can add to a voting thread?