(script draft) Peercoin Primer #5: Mission

[RobertLloyd]

@Sentinelrv

@Chronos the 2nd “achieved” was originally “attained” before it was changed. I think simply switching it back would solve the issue.

Rather than using “attained”, try “accomplished” in place of the second “achieved”.

[Sentinelrv]

That’s ok. Let’s do that.

[Chronos]

What is the best source to use for Sunny’s quote?

From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.

[Sentinelrv]

Sunny posted this answer in an interview in the chatbox of Peercointalk.org. We no longer have a history record of the chatbox, but I did post the interview myself on this forum shortly after it took place…

PeercoinTalk's Community Interview With Sunny King #2 - October 24, 2013

Sunny King: Hi all. JustaBitofTime: Hey Sunny, nice to have you with us. Are you ready to get started? Sunny King: Yes John I’m ready. JustaBitofTime: Coolbeans94 wanted to know about Peercoin’s long term approach, he asks “27. Is its design more for long-term security and sustainability? How does that relate to Bitcoin’s longterm vision?(Coolbeans94)” Sunny King: @Coolbeans 94. Both PPC and XPM are designed to last. PPC is designed with energy efficiency, XPM is designed with energy multius…

[Sentinelrv]

It looks like the quote has been slightly edited from its original form to sound better…

Original…

From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, or more, that maintains high degree of decentralization, maintains high level of security, but not necessarily providing high volume of transactions.

Newer version in the script…

From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.

I’m not sure when these slight edits happened.

[Chronos]

Thanks, that’s all I need for now.

[Sentinelrv]

Now that I think of it, I think I might have made those edits when I placed the quotes in Peercoin University. As I mentioned, they were originally made in chat, so it was not professionally edited before Sunny posted them. I believe I wanted to present the quotes in a better light, so I made some slight edits to them.

[Chronos]

For the section below, I’m writing an onscreen summary of each point.

Points:

1. Removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks;
2. Achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity, attaining geographical decentralization of block producers;
3. Allowing for 1% annual inflation to prevent deflation and to incentivize minting;
4. Replacing transaction fees with a continuous block reward, as a means of compensating block producers.

Onscreen summaries:

1. Stakeholder Security
2. Efficient Blockchain
3. Reliable Supply
4. Continuous Reward

Any feedback, thoughts or suggestions?

[Sentinelrv]

@Chronos

attaining geographical decentralization of block producers;

This was actually a separate point on its own. So make it #3.

3. Geographical Decentralization

[Sentinelrv]

@Chronos

Reliable Supply

@RobertLloyd does this sound fine to you, or should it be limited inflation?

[RobertLloyd]

Limited inflation is good - but an alternative is “Inflation permitted”, which puts a positive spin on it.

[RobertLloyd]

@RobertLloyd

Limited inflation is good - but an alternative is “Inflation permitted”, which puts a positive spin on it.

Actually, scrap “Inflation permitted”. The protocol makes inflation mandatory.