State of the Coin : Feedback needed!

[masterOfDisaster]

@intristin

The post I made was me giving my perspective as a newcomer

Thank you for giving us your perspective!

@intristin

I’m in no way saying that I am 100% right

No one is 100% right - be careful if somebody claims to be

@intristin

I can only express my perception on the information I have.

That’s what we all do.

I started visiting this forum because of Primecoin. I git interested in Peercoin and got stuck here.
There have been ups and downs, but over time my belief in the long-term potential of Peercoin increased.

I’m glad that Peercoin is no business and can just be.
But I need to admit that I look forward to seeing PeerApps on top of Peercoin or off-chain transactions

[mably]

Related thread on Nu forum: State of Peercoin: [Dire] - Economics - NuBits Forum

[quote=“cryptog”]I was an investor into peercoin from sep 13 up till nov 14 and I sold all my stash for nushares when I saw that peercoin’s purpose was in fact to give birth to a PoS mechanism that could be used in a blockchain where stake was equivalent to share: stake is not aligned with store of value but aligned with share.
Peershares (Nu, B&C, and others to come) is the way to capitalize on peercoin.[/quote]

@tomjoad

I was originally 100% Bitcoin until I discovered Peercoin, and then 100% Peercoin until I discovered NuShares. My crypto holdings are 100% NuShares now. Each is an iterative improvement over the previous generation. Peercoin’s development has been glacial during a time that Nu has accomplished a great deal.

[glv]

@Sentinelrv

I’ll tell you one thing that needs to be done. A new version of Peerunity needs to be released which includes this theme that we finished back in January. Ever since Jordan and the Nu team left, Peerunity development has been at a standstill. We should at least make the client look nice, since the change has been ready for almost an entire year.

If you know how to compile Peerunity, you can try the Peerunity version in GitHub - glv2/peercoin: Community Peercoin client development tree.
It includes the new theme SigmundAlpha made, and a few improvements and bugfixes (colors in minting table, etc.).
It also includes the changes for the protocol v0.5. I was thinking of making a pull request to the official Peerunity repository after the changes for v0.5 are tested and validated.

[mably]

@glv

[quote=“Sentinelrv, post:18, topic:3660”]I’ll tell you one thing that needs to be done. A new version of Peerunity needs to be released which includes this theme that we finished back in January. Ever since Jordan and the Nu team left, Peerunity development has been at a standstill. We should at least make the client look nice, since the change has been ready for almost an entire year.

If you know how to compile Peerunity, you can try the Peerunity version in GitHub - glv2/peercoin: Community Peercoin client development tree.
It includes the new theme SigmundAlpha made, and a few improvements and bugfixes (colors in minting table, etc.).
It also includes the changes for the protocol v0.5. I was thinking of making a pull request to the official Peerunity repository after the changes for v0.5 are tested and validated.[/quote]

Hi [member=30128]glv[/member], I was wondering if it would be hard to add the possibility of appending a custom user defined token to the coinbase scriptSig when minting a block.

Somewhere probably around here: https://github.com/glv2/peerunity/blob/master/src/main.cpp#L3998
Could be at first initialized from a command line argument: https://github.com/glv2/peerunity/blob/master/src/init.cpp#L618-L619

Some block explorers display the scriptSig value as text like PeerCoin Explorer http://i.imgur.com/Ci8giig.png

It’s the solution adopted by BIP-100 to allow block size voting by miners: https://github.com/jgarzik/bip100/blob/master/bip-0100.mediawiki

It would allow minters (and possibly miners) to express themselves about the future of Peercoin for example.

What do you think? Could it be added to Peerunity? Thanx for your answer.

(Sorry if it’s a bit off-topic)

[masterOfDisaster]

[quote=“mably, post:22, topic:3660”]Related thread on Nu forum: State of Peercoin: [Dire] - Economics - NuBits Forum
[…]

@tomjoad

I was originally 100% Bitcoin until I discovered Peercoin, and then 100% Peercoin until I discovered NuShares. My crypto holdings are 100% NuShares now. Each is an iterative improvement over the previous generation. Peercoin’s development has been glacial during a time that Nu has accomplished a great deal.[/quote]

tomjoad chose a road I consider more dangerous than staying invested in Peercoin.

I understand the motivation for moving from Bitcoin to Peercoin.
At the moment Bitcoin is successfully selling hope for a future in which Bitcoin will be really useful.
But for what?
For payments it’s not well suited. The volatility makes keeping BTC risky. You need payment processors that convert the BTC to USD or other stable (compared to BTC) tokens to enable BTC payments.
As a backbone for off chain transactions it’s not well suited. How shall the Bitcoin network be sustained if the transactions are off the network? Only with the coinbase rewards? Let’s see what the next coinbase reward halving does to Bitcoin.
Peercoin is as useless as Bitcoin is for payments (but instead of Bitcoin by design), but well suited to be a backbone currency, a reliable store of keys.

PeerApps and off chain transactions work well with Peercoin, but not good with Bitcoin (not technically, but economically).

As you see, I can give you reasoning for moving from Bitcoin to Peercoin.

Nu is a different animal.
It’s a business.
It can make revenue in other ways than Bitcoin or Peercoin can make revenue.
But it can fail in other ways than Bitcoin or Peercoin can fail.
That’s why I consider Nu way more risky than Peercoin or Bitcoin.
The development of Nu was impressive, but each step forward could have brought Nu closer to the edge of an abyss.
It worked impressive so far and I tend to believe that it will stay this way for some time.
The peg to USD was kept for over one year. People start to get some confidence in Nu and NBT.
So far Nu didn’t make much revenue, but all forms of dividends combined (PPC and BKS) Nu provided early investors (who kept their NSR) with approximately 25% return.
Not bad!
Let’s see what happens when Nu releases additional pegged currencies. By design all or at least a big part of the money Nu receives for selling CH-NBT and EU-NBT needs to be distributed to NSR holders.
The motion to introduce additional products is up for voting.
This might be another step towards Nu’s success or towards Nu’s end - I don’t know.

But I believe that Peercoin will be here in years from now - because of the low efforts to sustain the network and - I know this sounds strange - because of the slowness of its development.
With slower development you have less chance to ruin something that proved to run secure and fine for the last years (more than three years!). This is only true as long as urgent security issues get fixed. But as far as I can tell that was the case so far.

[mably]

[quote=“masterOfDisaster, post:25, topic:3660”]But I believe that Peercoin will be here in years from now - because of the low efforts to sustain the network and - I know this sounds strange - because of the slowness of its development.
With slower development you have less chance to ruin something that proved to run secure and fine for the last years (more than three years!). This is only true as long as urgent security issues get fixed. But as far as I can tell that was the case so far.[/quote]

Hi [member=11595]masterOfDisaster[/member], do you really think Peercoin can keep up with competition just by staying in the current state for years to come? Even if nobody is using it?

[Jimmy]

Don’t blame or push Sunny King. There are the direction, thought, theory problems in the dark, and I think Sunny is good at thinking, reasoning and he doesn’t say a lot. For a long run, right now it’s still the booting time in Peercoin era. I’m wondering whether there are some apparent changes in PoS state, mining and minting, coin distribution, tx distribution, system security and other measures during the last 1.5 years. So some Peercoin blockchain big data analysis may extract something. I’m looking forward to V0.5 before the end of this year, and of course it’s not so strange that we need an additional 1.5 years for the arrival of V0.6. Anyway, I’m here and I’m long on Peercoin.

[CapR]

I wouldn’t worry about Peercoin’s price in the context of Bitcoin’s latest price rise, which I would consider minor. If Bitcoin makes a 200 dollar move and Peercoin doesn’t move at all, then I would start to worry. Peercoin has a more modest community compared to others which may be more exciting but in a superficial way IMO. Peercoin will eventually show its merits as a backbone currency since that’s what it’s optimized for. You can see more and more “backbone” or “settlement” talk in the Bitcoin community lately and I think that’s because people are realizing high volume transactions isn’t Bitcoin’s forte nor any other blockchain based currency. They will eventually realize that overlay networks like sidechains and lighting will siphon tx fee revenue from the miners on top of the fact they’re mining rewards(subsidies) will be cut in half next year. Bitcoin will prove to be too expensive and impractical to maintain.

You have to see 2-3 steps ahead of everyone else in order to make a good investment and who know for sure if Peercoin will be one of these investments. However, it certainly qualifies as a candidate.

[masterOfDisaster]

[quote=“mably, post:26, topic:3660”][quote=“masterOfDisaster, post:25, topic:3660”]But I believe that Peercoin will be here in years from now - because of the low efforts to sustain the network and - I know this sounds strange - because of the slowness of its development.
With slower development you have less chance to ruin something that proved to run secure and fine for the last years (more than three years!). This is only true as long as urgent security issues get fixed. But as far as I can tell that was the case so far.[/quote]

Hi [member=11595]masterOfDisaster[/member], do you really think Peercoin can keep up with competition just by staying in the current state for years to come? Even if nobody is using it?[/quote]

What competition in the fields of backbone currency does Peercoin have to fear?
Name one competitor that is nearly as old as Peercoin, that can be sustained as easy as Peercoin and that didn’t suffer from (successful) attacks
Even with competitors Peercoin would be one of the top currencies, one of the top blockchains for what it was designed.

But Peercoin is already being used or might soon be used:

[ul][li]it’s being traded by people who want to make money with trading it[/li]
[li]it’s being held in wallets to mint with it (my RaspberryPi 1 with 256 MB doesn’t complain about ppcoind and some PPC minting)[/li]
[li]it’s being used as a kind of insurance against Bitcoin and PoW failing[/li]
[li]it’s being used for dividends at Nu[/li]
[li]other PeerShares implementations based on the original template with PPC dividends might follow[/li]
[li]I could imagine finding Blocks&Chains Exchange dividends being extended from BTC to PPC. And even if the dividend payment at BCE remains only BTC, some of the dividends will end up as PPC generating PPC buy pressure at exchanges sooner or later (remember where a lot of the Nu and BCE shareholders come from!)[/li]
[li]Emeth’s PeerApps is just waiting for Peercoin 0.5 to be released[/li][/ul]

What else do you need?

[backpacker69]

i’ve been following peercoin since november 2013 and it’s great, i don’t mind the speed of development of PPC, cold minting is a nice thing to have, but not a deal breaker and i am sure that it will arrive sooner or later. i’m hoping to get into the development of PPC and things around it more, to be useful to the community.

for starters, is it true that it’s been a year since new theme was designed for peerunity? are we sure that it hasn’t been finished and just not pushed to the main repo?

[intristin]

[quote=“backpacker69, post:30, topic:3660”]i’ve been following peercoin since november 2013 and it’s great, i don’t mind the speed of development of PPC, cold minting is a nice thing to have, but not a deal breaker and i am sure that it will arrive sooner or later. i’m hoping to get into the development of PPC and things around it more, to be useful to the community.

for starters, is it true that it’s been a year since new theme was designed for peerunity? are we sure that it hasn’t been finished and just not pushed to the main repo?[/quote]

From what I understand it’s ready, it just hasn’t been released yet because it’s designed to work with peercoin 0.5 which hasn’t been released yet. From what I understand there are a lot of things ready that are waiting on 0.5. Please someone correct me if I’m wrong.

[mably]

@masterOfDisaster

What else do you need?

To be as optimistic as you are I guess

[masterOfDisaster]

@mably

[quote=“masterOfDisaster, post:29, topic:3660”]What else do you need?

To be as optimistic as you are I guess ;)[/quote]

This is something I can’t give you, but if you allow it, I might be able to talk you into it
Peercoin is here to stay!

If you want something with more (development) speed, consider contributing to Nu or BCE - if you want to stay close to Peercoin.
I bet there’s development stuff you can contribute and you could even request payment for it!
Take that payment and buy more PPC!

Not being optimistic doesn’t make things better!

[Sentinelrv]

@backpacker69

for starters, is it true that it’s been a year since new theme was designed for peerunity? are we sure that it hasn’t been finished and just not pushed to the main repo?

The theme was designed by me and SigmundAlpha. It was finished when he posted it in that thread I linked, which was back in January, but the Nu team got very busy and stopped managing the releases for Peerunity. I’m not technically inclined, so I’ve been hoping somebody else would take it up.

[Chronos]

@intristin

Those videos on the main site is what ultimately convinced me to choose peercoin, but after reading the market forum I found out the guy was paid to make them.

Well, I’m still a Peercoin supporter. Who knows if I would have done the same work, without being paid?

I’m glad you enjoyed the videos. Welcome to the community!

[rootsical]

just chiming in to say i am still about and watching with interest all that is happening. crytocurrency was such a new space for me when i first learnt about bitcoin that i still spend much of my free time learning about it and learning about programming etc. perhaps i will be of use in the future on this front, perhaps not. but i’m still very much a peercoin supporter!

[intristin]

Ok guys, I’m gonna be lurking in these forums. I have converted all my peercoin holdings to bitcoin in the last hour. I have repointed my miners to Antpool. I really do belive that peercoin could be the future of cryptocurrency. But the truth is peercoin needs more development, it needs a roadmap, it needs CPR at this point. The development is dead, the community is dead, but at first sign of life I will be back. I really belive your code is better than Bitcoin, your future can be better, but this is a financial product at the end of the day, and a year and a half between releases is unacceptable. The lack of communication is unacceptable. The lack of even a public roadmap is unacceptable. Maybe it’s acceptable to all of you, but not for me. Good luck, I hope you guys can turn it around, and if you can, I will be back. :-/ Hire more developers, I have no doubt that Sunny King is a Genius, but one man, no matter how smart he is can not bring this back, he needs help. Get him help, or this coin die.

PS: And for god sakes, fix the ticker or remove it from the template, it makes this website look like a 4th grade project that got a D-.

[mably]

[quote=“intristin, post:37, topic:3660”]Ok guys, I’m gonna be lurking in these forums. I have converted all my peercoin holdings to bitcoin in the last hour. I have repointed my miners to Antpool. I really do belive that peercoin could be the future of cryptocurrency. But the truth is peercoin needs more development, it needs a roadmap, it needs CPR at this point. The development is dead, the community is dead, but at first sign of life I will be back. I really belive your code is better than Bitcoin, your future can be better, but this is a financial product at the end of the day, and a year and a half between releases is unacceptable. The lack of communication is unacceptable. The lack of even a public roadmap is unacceptable. Maybe it’s acceptable to all of you, but not for me. Good luck, I hope you guys can turn it around, and if you can, I will be back. :-/ Hire more developers, I have no doubt that Sunny King is a Genius, but one man, no matter how smart he is can not bring this back, he needs help. Get him help, or what this coin die.

PS: And for god sakes, fix the ticker or remove it from the template, it makes this website look like a 4th grade project that got a D-.[/quote]

I guess that’s at least what most newcomers would say when discovering Peercoin.

Most of the people remaining here are long term bag holders or early fans like me.

But new blood is definitely needed to keep things alive.

Thanx [member=32683]intristin[/member] for waking up this forum a bit

EDIT: Most important to me, the high quality of the Peercoin community, people here are nice and respectful to each other and always willing to help, hoping it will stay like that for the years to come.

[intristin]

I really love the idea of this coin, and that last post was painful to make. But reading some of the responses in this thread was painful. Set down the koolaid, and back away from the table. There is a problem, and it needs to be addressed.

[mably]

@intristin

I really love the idea of this coin, and that last post was painful to make. But reading some of the responses in this thread was painful. Set down the koolaid, and back away from the table. There is a problem, and it needs to be addressed.

Looks like you are the realistic kind of guy we also need here, thanx for your contribution [member=32683]intristin[/member]