I believe the maximum coin age is 90 days.
Help needed. In-depth knowledge about PoS required! This post might sound a bit dramatically. Forgive me, I try to awake people 
For those who don’t want to by confused by my thoughts, please read the bold paragraphs only!
I have another discussion going on regarding PoS and how it works. I’d really like to defend this concept better, but I lack the hard facts. Is anyone able to counter the allegation posted here with facts: https://bitcointalk.org/index.php?topic=326216.msg3527194#msg3527194 ?
Allegation (an attack vector based on creating fraudulent PoS blocks):
“If the attack is unsuccessful, the coin age is not consumed. It is therefore instantly reusable to attempt the attack again. So even if you have only a 1% chance of succeeding, you WILL succeed eventually.”
I’m sorry that I can’t disprove that. The allegation sounds reasonable to me; although you have a low chance of performing a successful attack with a minority of coins in the PoS process, the chance seems to exist. I don’t know enough about PoS to tell why this is wrong.
Do you need majority of coin-age being spent for bringing a fraudulent block into the chain? Or can you achieve it with a minority of coin-age?
I still don’t know whether coin-age is being capped at some point.
It would be good for the integrity of the PoS process if the coin-age was capped at some point (is it the 90 days that limits the coin-age?) and if you did need a majority of aggregated coin-age to create a PoS block.
By having a maximum coin-age that can be aggregated by a coin and by needing some relatively high minimum total amount of coin-age to practically be able to create a PoS block, you had some sort of defense against this attack (because you might need coinage from others to reach that minimum).
But this is completely theoretical. I stil understand creating a PoS block as a kind of raffle with coin-age being the tickets. From this understanding I consider a low-coin-percentage-attack being completely possible. But I don’t know enough about it. I can’t counter the allegation plausibly… I lack the knowledge to do so properly. Help would be very much appreciated.
Problem:
If we can’t defend PoS reasonably against those allegations, we can’t claim PoS being superior to PoW…
Possible solution:
Profound knowledge about the details of PoS!
Failure of PoS:
Allegation can’t be disproven; attack vector is existing.
Have you read the posts on this topic yet? http://www.peercointalk.org/index.php?topic=591.msg7635#msg7635
Does that help?
It helped. Wanna consider joining the discussion at https://bitcointalk.org/index.php?topic=326216.0
It might be crucial to reliably explain why PoS is at least as safe as PoW to finally attract people as this might be one of the biggest concerns for them…
You could argue that a 1-confirmation of ppc is somewhat weaker than 1-confirmation of btc. But that’s not necessarily a failure of proof-of-stake. Market should self adjust to a reasonable number of confirmations for comparable level of security to bitcoin. Keeping in mind, as number of confirmations increases, the difficulty of the attack increases exponentially, as demonstrated by Satoshi.
Also remember, in the longer term the security provided by proof-of-stake might exceed the security provided by proof-of-work. This is because the level of security provided by proof-of-work is dropping lower in terms of ratio to money supply, due to the reduction of inflation rate, whereas for proof-of-stake this level remains fairly constant in terms of ratio to money supply.
[quote=“masterOfDisaster, post:6, topic:648”]Help needed. In-depth knowledge about PoS required! This post might sound a bit dramatically. Forgive me, I try to awake people
For those who don’t want to by confused by my thoughts, please read the bold paragraphs only!
I have another discussion going on regarding PoS and how it works. I’d really like to defend this concept better, but I lack the hard facts. Is anyone able to counter the allegation posted here with facts: https://bitcointalk.org/index.php?topic=326216.msg3527194#msg3527194 ?
Allegation (an attack vector based on creating fraudulent PoS blocks):
“If the attack is unsuccessful, the coin age is not consumed. It is therefore instantly reusable to attempt the attack again. So even if you have only a 1% chance of succeeding, you WILL succeed eventually.”
I’m sorry that I can’t disprove that. The allegation sounds reasonable to me; although you have a low chance of performing a successful attack with a minority of coins in the PoS process, the chance seems to exist. I don’t know enough about PoS to tell why this is wrong.
Do you need majority of coin-age being spent for bringing a fraudulent block into the chain? Or can you achieve it with a minority of coin-age?
I still don’t know whether coin-age is being capped at some point.
It would be good for the integrity of the PoS process if the coin-age was capped at some point (is it the 90 days that limits the coin-age?) and if you did need a majority of aggregated coin-age to create a PoS block.
By having a maximum coin-age that can be aggregated by a coin and by needing some relatively high minimum total amount of coin-age to practically be able to create a PoS block, you had some sort of defense against this attack (because you might need coinage from others to reach that minimum).
But this is completely theoretical. I stil understand creating a PoS block as a kind of raffle with coin-age being the tickets. From this understanding I consider a low-coin-percentage-attack being completely possible. But I don’t know enough about it. I can’t counter the allegation plausibly… I lack the knowledge to do so properly. Help would be very much appreciated.
Problem:
If we can’t defend PoS reasonably against those allegations, we can’t claim PoS being superior to PoW…
Possible solution:
Profound knowledge about the details of PoS!
Failure of PoS:
Allegation can’t be disproven; attack vector is existing.[/quote]
In terms of ratio to money supply, will the ratio for PoW supply over PoS supply approach to around 1? Thanks!
[size=14pt]I found this image on the web of proof of stake earned in a ppcoin-qt wallet.[/size]
The receiving wallet address of this screenshot was PNywpYi6qMMQLTmE9f4bbM7diatb5Wvt8a
If he successfully minted 5.72 coins on 6/15/2013, and his coins were a minimum of 30 days old, he had around 14,000 coins in his wallet at the time of the successful mint.
I might completely wrong (oops?) … but this is what I have figured out in the last 3 minutes.
[size=10pt]It looks like he started successfully minting coins EVERY DAY! Sometimes he minted multiple coins in the same day! [/size]
Depends on the coin age. So who knows, right?
is there a way to have total amount of wallet always in PoS?
or else do we have to transfer it from wallet to wallet once (lets say) a month? 
yes, i haven’t understand anything about PoS!
[quote=“seki, post:13, topic:648”]is there a way to have total amount of wallet always in PoS?
or else do we have to transfer it from wallet to wallet once (lets say) a month?
yes, i haven’t understand anything about PoS![/quote]
If I understand things correctly, the following statements are all true:
The coins in your wallet automatically earn Stake after 30 days if they sit there, and are not transferred out.
As soon as you transfer a coin, it loses its coin-age (or stake) and it resets back to 0 days again.
If you plan on spending some of your coins in the near future, you should keep some of them in your “reservebalance” so they don’t get used as stake during the minting process. Otherwise, you might have to wait 520 block confirmations to get access to your original coins that were used to mint new coins.
If I’m wrong, someone please correct me. Thanks.
Yep, that’s correct.
Initially, for my own use, I was going to set up a document that walked through the current setup for PoS on a PPCoin-QT wallet, and then a description and model of how PoS worked, in practice. As soon as I get a partial draft up, I’ll share it here, because I’d love for you all to validate that I’ve got it right. Expect something in the next day or two.
waiting
It’s on my list to get finished off. I’ll see if I can spend some time this evening to get the initial content down.
It's on my list to get finished off. I'll see if I can spend some time this evening to get the initial content down.Ben would love to see this as I prep for the London conference
I’ve posted the first (simple) draft and set of questions showing how Peercoins move through a Proof-of-Stake minting flow. Here’s the link to the topic:
I’d really like your feedback. Thanks!
thanks. then PoS is always working for sitting PPCs without the need to move them around once in a while.
and you have no control over the PoS amount. (i mean to put all the PPC to PoS via commands)
please confirm
Right now, if you have a locked wallet, you need to update your ppcoin.conf file to enable Proof-of-Stake minting. I know it’s on the roadmap to have this feature built into Peercoin-Qt, but right now, it’s a manual process.
Once it’s enabled though, the app will take care of Proof-of-Stake minting without you having to do anything else.
Will all peercoins have a coinage or is it something you choose to do? To commit your coins to be minted and gain a bonus 1 PPC after 90 days for example like some kind of short term bond? And this powers the mining instead of PoW?
Yes, all coins accrue a coin-age value based on how long they’ve sat in a wallet without being moved. You do not have to do anything to have that happen.
However, in order for your coins to be used “as Proof-of-stake” towards minting new coins your wallet has to be online, and unlocked for minting purposes after your coins are 30+ days or older to allow the minter process to begin.
If you have 3 coins, and they are 90 days old, you would have 270 coin-age days as stake.
However, if you had 30 coins, and they were only 30 days old, they would have 900 coin-age days as stake
I know it sounds a little complicated. Some more information is forthcoming, videos, etc. A new wallet client, and more.
Basically you should buy as much Peercoin as you can and hold on to them. As those coins exceed past 30 days, you will be able to get new coins minted just by holding them, running the wallet and letting the minter part of it do the work for you.
The rate works out to about 1% annually I am told. But those new coins you mint, can be used towards minting more new coins later. So it is compounded over time.
If I’m wrong, I hope someone corrects me. This is how I understand it so far.