Script Writers Needed for Professional High Quality Peercoin Video Project

In case you didn’t see it mentioned in any of my other threads, Tripper311 is a motion graphics artist and is offering to make us a professional high quality video for Peercoin that will compete with Bitcoin’s animated video. He needs people knowledgable in Peercoin to help him form a script before he can do anything though. Here is an example of his work…

This video will be listed on the main website and will be used to convert lots of people to Peercoin. It’s very important that we get this done. [size=3]If you want to help with this project, please go to this thread…

Please also upvote this thread about it on Reddit so we can get more people to help…

Peercoin is a secure and sustainable digital currency. Much like Bitcoin, Peercoin is also decentralized. It allows users to transact directly from one person to another, instantly, anywhere in the world.

However, Peercoin and Bitcoin have major differences. Peercoin uses a hybrid Proof-of-Work and Proof-of-Stake to secure the network. Hold on, don’t panic. These fancy words are very easy to understand. You may have heard of “mining” Bitcoins. People who have specialized computers run their machines 24/7, 365 days to compete for bitcoins which we’ll term a block reward. They may also charge transaction fees for additional profit. These people are the ones responsible for the security of Bitcoin. Bitcoin was designed to be hard to acquire to encourage competition because if there was not enough competition, the whole Bitcoin network may be in great danger. This is the so called 51% attack that haunts bitcoin since its inception. If one entity has more than 51% of all the mining power, that one entity would have the ability to spend his/her bitcoins multiple times. And so, work was designed into bitcoin to make it hard and expensive for a person/group to have a large share, thus the term Proof-of-Work.

However, Proof-of-Work alone introduces new problems.
Number 1, the miners running their machines 24/7 waste a lot of energy which could have had been used for more productive activities.
Number 2, mining Bitcoin was once possible with ordinary CPUs but now specialized computers are required. Only the people who have access to these specialized computers would have the ability to mine - talk about decentralization.
Number 3, the block reward to mining was designed to half every four years. As the rewards get smaller, miners may charge higher and higher transaction fees because they get lesser bitcoins from the block reward. They will ofcourse try to break even with their investments.
Number 4, as the incentive to mining gets lower, there would be lesser competition and so it becomes easier to gain 51% of the total mining power. Thus, the security of the network may also taper in the future.

These problems in Bitcoin are usually overlooked. However, an innovative cryptocurrency, called Peercoin, was designed to be more sustainable while still preserve decentralization, and security over the longer term. Rather than buying specialzed hardware and using up large amounts of electricity to acquire coins, one can simply hold coins to acquire more coins much like interest. No “work” is required as in Proof-of-Work algorithm. Only aged coins are needed, a stake in the total coin supply, thus Proof-of-Stake. Peercoin started with Proof-of-Work to initially distribute the coins fairly but it is designed to transition to purely Proof-of-Stake.

The major advantages of Proof-of-Stake over Proof-of-Work are:
Number 1, We don’t abuse Mother Nature just to run a payment system. Tons of energy can be saved.
Number 2, No specialized computers are needed. Anybody who has Peercoins have the privilege of security the network and get a constant reward.
Number 3, The security of the network relies on adoption. In Bitcoin, the more the miners, the greater the security. In Peercoins the more the people who use it, the greater the security.
And finally at Number 4, Unlike Bitcoin, the block reward to secure the network doesn’t taper and so in Peercoin, transaction fees won’t go higher so using Peercoins would be far cheaper to transact. It also costs essentially nothing to secure the network and so it may also cost nothing to transact.

The currency of the future is here. Peercoin, the secure and sustainable cryptocurrency.

Note: It’s a bit hard to explain why Peercoin is secure without explaining a 51% attack. I hope this will be useful. You can edit it, just get the thought framework, or even just get bits and pieces. Good luck.

Great scripts. That’s what I perceive PPC to be.
Is it possible to mention that the complete PPC blockchain is only around 0.3G, which provides potential for more decentralization. Many ppl just give up downloading the 16G BTC blockchain.

I would make any posts in the thread I linked. That’s where the video maker made his thread.

I would like to add some of my own notes to the script.These are just suggestions. Although I’m not going to write it in the manner of someone speaking it.

  • The foundation of every crypto-currency is the security of its own network. Security is accomplished by PoW and/or PoS. Solving blocks in the blockchain secures the network. To get people to secure the network, people need an INCENTIVE to solve these blocks. For peercoin, there are two incentives to secure the network.
  1. Everyone has the option to solve a block (no special equipment is needed, this is encouraging for people who want to contribute), so this will employ the people who believe and want to protect the coin’s worth and its security.

  2. Minters who solve PoS blocks with coinage are rewarded with a fraction of their amount of coins at stake. Basically, you are rewarded for solving the PoS block. Also, considering your amount of coins and the price of PPC, it is likely to be profitable to do some minting (solving PoS blocks) {earned ppc through PoS minting - the cost of running your household computer).

P.S. PPC is meant as a store of value, so I suggest we don’t compare it to BTC too much. :slight_smile:

Everyone, Tripper checked people’s feedback on his thread and posted a reply. Please check it out in the thread linked in the OP and give him feedback. Without feedback, nothing gets done.