The alt-coins war is raging, will Peercoin survive?

PPC/BTC rate keeps going down: 0.00420 on BTC-e this morning. :beye:

The alt-coins war is raging. Which coins will stand at the end? Will Peercoin be among the survivors? :surrender:

What’s your point of view? ???

I think that raging war is pretty lame, we have seen worse in the past. Except for Darkcoin which is being heavily pumped and Ripples getting a hit as people now understand what a central crypto with just a handful owners means, not much changed in the top 10.

The ppc/btc rate is indeed a bit of a concern, BTC seems to be very strong and I haven’t figured out what changed since last week. There were a couple of announcements, but nothing out of the ordinary. Maybe it still has to come…

I don’t know if I can agree.

This is the PPCBTC chart…
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ppc-btc&market=btc-e

…and it looks similar to BTCUSD…
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=btc-usd&market=btc-e

Am I worried about BTCUSD? No. Am I worried about PPCBTC? No, it looks the same. Judging from the ppc btc exchange rate I don’t see any worries. I see buying opportunity.

That said, if Peercoin was all about a cool new meme, some kind of new hype, had some hyped up feature or something - then yes, perhaps I would be worried that the hype is fading.

When I hear about Peercoin on the podcasts… wait… do I ever hear about it on podcasts? Hmm, lets see. This Bitcoin 2.0 thing… do I perhaps hear about PeerShares? Hmm no…

So if I kind of never hear about Peercoin / Peershares on the social forum, then why the h3ll is it still here? If there is no hype that is fading, then why are people buying?

The answer I suspect, is that “the thing about Peercoin” is that it will outperform Bitcoin in the long run, as it solves issues that Bitcoin doesn’t yet have, but could/will have in the future.

Which means that the hype will come sometime in the future, it has not happened yet. Most people still don’t understand it.

As late as today, I heard in this show:

that Proof-of-Stake, was a hype that is now old? PoW doesn’t work (it centralizes the network) and PoS has the potential to solve this issue (PoS will most likely be more decentralized over time). How is this a hype? Are everyone talking these days about how Bitcoin doesn’t work? Nope. The “hype” is still to come.

Finally I would just to go a little bit :pbjt:

I think PPC is in race with NXT. NXT is not a clone it’s real coin with good design, strong community etc… They both have advantages and disadvantages but market cap difference between them is small and anything can happen. At the end I believe there can be only one. I also went trough and inspected all other coins there is nothing else at the moment just these 2.

Yes, petar87. Personally I put my money into Peercoin. Peercoin was first to market and because of POW for money creation, it is much more fairly distributed than NXT. Fair distribution is important and I think that is the reason why Litecoin became so popular.

Yea I agree with what you said, still that’s not all there is to it. From my perspective I think it can go either way, I also invested in PPC but will buy some NXT when it comes at price under 55 it’s to expensive right now. But I am not scared of darkcoin/blackcoin/litecoin/dogecoin etc as I don’t see future in any of them.

This could be great opportunity for all of us that missed buying btc back in 2011 now we have our moment. But it is key to follow situation and to be smart enough to recognize which coin could take over btc market cap.

Yea I agree with what you said, still that’s not all there is to it. From my perspective I think it can go either way, I also invested in PPC but will buy some NXT when it comes at price under 55 it’s to expensive right now. But I am not scared of darkcoin/blackcoin/litecoin/dogecoin etc as I don’t see future in any of them.

This could be great opportunity for all of us that missed buying btc back in 2011 now we have our moment. But it is key to follow situation and to be smart enough to recognize which coin could take over btc market cap.[/quote]
It seems that the 72 persons of NXT = Federal Reserve Bank.

You could make similar argument with ppc btc or most other coins, early adopters have much more then everybody else. I agree that this is a bit more with nxt and that is a flaw of nxt, but I don’t know if that is going to be crucial point. NXT has some big advantages over ppc in it’s design, but ultimately we will see what market will decide.

Also SK has said that for success of crypto currency it is crucial to change and evolve over time, so having that in mind ppc could improve it’s design and win the race.

It will be a key point. When I found out that only tens of people spent 21 BTC and get all NXT. I won’t be fool to buy it and raise the price for them. And I have to say, Java is not a suitable program language as C++ for currency which is serious mean for the future.

You can write nxt client in C++ that is not much of an issue. But people perspective towards coin is, if everybody thinks it’s scam then it will fail for sure. I don’t like idea that 1 NXT can’t be divided. If NXT would to be worth 5x more then bitcoin currently, then smallest unit would be worth around 30$

On btc/usd day chart of btc-e https://bitcoinwisdom.com/markets/btce/btcusd there was a break out from the upper border of a downward channel formed since Jan 2014. That is why the 30% rally of btc/usd. In the week chart the breakout is happening in the last few days (still unconfirmed IMO). Many owners use this rally to exit their alt/fiat position. That is why the downward pressure of many altcoins including ltc and ppc.
I think when a upward trend of btc/usd is established alt/fiat alt/usd will rally.

PPC/BTC going down further: 0.00388 BTC on BTC-e today. :not: As many other alt-coins.

I’m worried that you are worried because you have bought to many coins and can’t really handle the volatility. I would advice you to sell as many peercoins as you must, to not be worried anymore. Generally speaking, worry can easily turn into panic and panic can easily lead people to things that one regret afterwards.

Just do what I do and you will not have to worry anymore: buy some bitcoins, buy some usd and buy some peercoins. If PPCUSD goes down, use your USD to buy peercoins. if PPCBTC goes down, use some of your bitcoins to buy peercoins. If peercoins go up, hold onto them. Profit.

Doing so, you will now hope that PPCUSD crashes and that PPCBTC crashes. If it doesn’t crash, it means that you are making money. :dance:

EDIT: yes, I’m sitting at a sizable bitcoins postion and are desperately hoping that BTCUSD goes up and PPCBTC goes down. I don’t think that peercoins will go :pbjt: before we have real issues with PoW pools. Right now VC, dish, overstock and what not, all thinks that Bitcoin is super secure, has no issues and so forth and so on. People who see the value in Peercoin usually strongly disagree but are in the minority.

In the future we will see more of this:
“Just wanted to compliment the Peercoin community for having the foresight about Proof of Work. I’m done with PoW coins. A 51% attack is far too serious to risk your money on and you can’t circle-jerk yourself into making that reality disappear. Goodbye Litecoin. I sold it all for Peercoin today. Of all the PoS coins, PPC is the only one that isn’t pre-mined and shady as f*ck. Sunny King and all the devs here seem to be top notch. I’m glad to be here and will see what I can contribute.”
(http://www.reddit.com/r/peercoin/comments/2659lz/im_done_with_ltc/)

Thanx pillow for your answer. I’m 60% PPC and 40% BTC at the moment, may be I should go back to 40% PPC and 60% BTC to be less worried :wink:

Peercoin 2.0 (Cold minting, constant reward, etc.) might put the coin back on track to be a serious contender to BTC in a near future :dance:

[quote=“mably, post:14, topic:2418”]Thanx pillow for your answer. I’m 60% PPC and 40% BTC at the moment, may be I should go back to 40% PPC and 60% BTC to be less worried :wink:

Peercoin 2.0 (Cold minting, constant reward, etc.) might put the coin back on track to be a serious contender to BTC in a near future :dance:[/quote]

Glad I could help easy your worries. Yes, if it helps you I think you should sell some peercoins for bitcoins with the plan of buying back those peercoins when the price goes down. So you should consider them to be like Bitcoinspeercoins and when the price drops to 0.0035 you use 10% of the bitcoins to buy peercoins and when it drops to 0.0025 you use 10% of the bitcoins to buy more. Doing so, you will always have some fractions of bitcoins left to buy ever cheaper peercoins. This is called averaging in at lower prices and it a kind of doubling down (but you’re not actually doubling). If you really believe in Peercoin this is a good strategy to profit a lot.

That said, I would like to stress that I personally don’t see huge profits in PPCBTC in the close future. I think that as BTCUSD goes up, PPCBTC will go down even if PPCUSD goes up. Then, when the next wave of average six pack Joe learns about Bitcoin and make some money, they will want to repeat the process, they will learn about altcoins and Peercoin being one of the few more known ones will get its share of fresh money.

Meanwhile, the Bitcoin network will continue to degrade into super centralization. No-one will think that it is an issue, until suddenly it is and then it will be to late to buy Peercoin (or other PoS alts) because the smart money (that’s us guys n girl) have already bought the lion share.

EDIT: actually I think everyone should dedicate some USD and BTC or whatever, to use when the price of peercoins fall. I’ve written about this earlier, but it seems to me as though not many people here really gets the drift. That’s unfortunate. I’m doing it myself anyway, because I will make loads of money of it (again, if you also did this, you too could stand to profit handsomely). Creating a valuable coin is not about buying and just holding on to it. It’s about selling when its to expensive and buying when its to cheap - establishing a stable price with an upwards trajectory. :pbjt:

NXT is centralized. Also have serious flaws in it.

Just sold a bunch of PPC after reading your message. A few hours later 3 big sells brought PPC/BTC rate down to 0.00355 on BTC-e. Thx :wink:

LiteCoin and DogeCoin are also going down, DarkCoin is going back up and surprizingly NXT too soon relegating Peercoin to 5th place on coinmarketcap.com:

Still a strong believer in PPC and POS. Eagerly waiting for Peercoin 2.0 :pbjt:

Just sold a bunch of PPC after reading your message. A few hours later 3 big sells brought PPC/BTC rate down to 0.00355 on BTC-e. Thx :wink:

LiteCoin and DogeCoin are also going down, DarkCoin is going back up and surprizingly NXT too soon relegating Peercoin to 5th place on coinmarketcap.com:

Still a strong believer in PPC and POS. Eagerly waiting for Peercoin 2.0 :pbjt:[/quote]

A big issue with NXT is that there are a few big bag holders that could easily sell to much to quickly, bringing down the price - just like it happened to Ripple. There are other issues with NXT as well, but I got to tell you; their marketing is good and the are offering features that not many other networks have. Personally would would much rather use OT (OpenTransactions) then NXT and I think we will see other people coming to this realization in the future. Darkcoin is not doing something that Bitcoin DarkWallet isn’t doing, besides creating forks and so forth and so on.

In summary, I still don’t want to sell my peercoins for any other coin.

I’m happy that you sold peercoins for bitcoins. Now please remember to buy back some peercoins so you get some of them cheap coins.

Yes. I am still holding Peercoin much more than Bitcoin. In Peercoin, we trust.

I believe, in a long term prospective, Peercoin will show its unique value.

I guess it’s time to find some volunpeers for a “Saving Private Peercoin” mission: :wink: