Weekly Update #202

Weekly Update #202

[ul][li]Bitcoin reached its 2nd halving this week (congratulations!). As expected peercoin’s proof-of-work difficulty is pushed up due to influx of miners. Currently peercoin’s proof-of-work difficulty is about 700M, roughly doubling the difficulty before bitcoin’s halving.[/li]
[li]There is a discussion regarding merge mining (https://www.peercointalk.org/index.php?topic=4655.0). I am still of the opinion that merge mining does not provide any security benefit to peercoin as peercoin’s security is pure proof-of-stake. Additionally supporting such feature involves significant development and maintenance overhead.[/li][/ul]

Have fun!

my vote is -->>king

Peercoin’s market cap has fallen to No.24. Honestly speaking, it is very hard for those people who have been investing in Peercoin to have fun.
In my opinion, it is worth considering to have a company which can support some developers to make developments for Peercoin.

This new requirement:


and with a little advertising, PPC would be the best.

two chains together. the ppe must be separated by Bitcoin.

Unfortunately, it’s the end of the Bitcoin.

king should do succumb

our time very, very little

[quote=“caribou, post:3, topic:3979”]Peercoin’s market cap has fallen to No.24. Honestly speaking, it is very hard for those people who have been investing in Peercoin to have fun.
In my opinion, it is worth to consider to have a company which can support some developers to make developments for Peercoin.[/quote]

I assume that your opinion of investors in having fun, is either:

[ul][li]Watching their investment grow[/li]
[li]Selling and taking profits along the way[/li][/ul]

Both of these following two statements are true:

[ul][li]Watching there investment grow, is working. It is now harder to obtain peercoin by mining than it has been ever before. This make s the coin even more rare[/li]
[li]Selling and taking profits is some thing too early for Peercoin. If you buy into peercoin, you should expect to hold a portion for a very long time. (Unless you are trading daily, and own enough peercoin that a volatility jump of a few cents is a big deal[/li][/ul]

There are plenty of coins for day traders (with high volatility) to make money on.

Peercoin generally isn’t a day trading coin. What the general market values peercoin today is no where near where it will finally end up. Over the last couple of years, I keep hearing people say “darn! I should have bought more when Peercoin was cheap”. I keep shaking my head. Peercoin is cheap right now.

You got half of this right:

I think with a little tweaking, this statement could held to be a little better:

In my opinion it is worth a company to consider to support some developers to make developments that make use of the Peercoin blockchain, which is a proven chain, with fair distribution.

Not only will that company benefit, but so will the growth of peercoin too. Starting out by building on top of a reliable chain (instead of introducing yet_again another coin/token, gives a company a severe advantage.

Keep in mind, that Peercoin isn’t a transactional currency for day to day transactions. It’s primarily a store of wealth, that money moves not as often as what you see with Bitcoin. It’s a completely different concept that is obviously under-appreciated at the moment. However, this is a future need that is going to become evident.

We already see what happens when developers release things in the wild without enough foresight of what possibilities can happen.

As I write this right now:

[ol][li]steemit is down for maintenance[/li]
[li]The Ethereum has investors worried about long term affects of its misunderstood “touring complete” language[/li]
[li]NXT is “trying” to make a come back after losing many of it’s larger, long-term investors[/li]
[li]Ripple never dominated the crypto world like everyone though it would[/li]
[li]Cryptsy, who held out through the Mt. Gox crisis even died[/li]
[li]Neucoin what? Look at the charts[/li][/ol]

(…and the list goes on and on)

…and here you have Peercoin sitting here in the corner, shining brightly more now, than ever. It’s a gem in the rough that I fully believe will get its attention at the right time.

But what we need is to see more of these other “new” tokenized developments to see, that if they had concentrated on peering with Peercoin’s chain, they could have started with a solid footing and focused more on their application and solution. Instead many of them spent more time creating their coin, their mining and distribution plans, handling their forks, finding nodes, Voting for witness nodes, etc, etc…

…that is an awful lot of development work, time and effort spent to create their new coin or token, that could have been better used in creating their application or solution.

Right now, in my estimate, less than 1% of the world, really understands cryptocurrency or how it works. This is why large scale software companies aren’t using it yet.

Every day this percentage changes. At some point, some one is going to acknowledge the opportunities of Peercoin’s chain, and make use of it. They’ll be really smart to do so…

Until that happens, we’ll have investors who waited for peercoin to go from $0 to $100 a coin, complaining that it didn’t happen fast enough. I’m sorry, but the world is slow to adopt new technologies.

[size=14pt]To understand this better, wrap your head around where horses were, and when automobilies were first introduced…[/size]

The first people who drove automobiles were laughed at… The technology was so new. “I’d rather have a horse they’d say. Much easier to maintain. Can your car give birth to more cars? No? My mare and my stallion can do that… Ha ha ha… the automobile will never become popular…”

This is exactly where cryptocurrency is… (Peercoin too). With one significant difference. We’re evolving at a much faster rate. But we’re not speaking a few months, or a couple years. Financial industries generally move a lot slower than everything else does.

Make a new food slicer? Sure, that can go viral on TV.

Make a new token or coin? That goes viral briefly, but long term, it really takes a lot longer to get the acceptance it deserves.

I suggest you do not put “all your money” in to Peercoin. Put some, enough to “have fun” with, and see where it goes. I think this is why Sunny King insists people “have fun” with it.

If your not having fun anymore, then it means you either invested too much, or you expected too much, too soon.

P.S. It shouldn’t be Vitalik Buterin OR Dan Larimer OR Jean-Lu OR Chris Larsen as separate entities. They should be on the same team. They’re all visionaries with talent.

All of them joinly should be making an application/solution together, with Peercoin as it’s backbone. What we have is a sharing of effort that is fragmented. This is why coinmarketcap has as hundreds of coins jumping all over the place. We don’t need to have so many coins. What we need is more collaboration efforts by similar minded, and talented people. That hasn’t happened enough yet. But I think it will.

This is a complex problem, that the world is very immature about. So that’s why Peercoin’s price is what it is…

It takes a lot longer for the world to “grow up” and mature.

Technology always advances very fast. However, our developments were slow because the donations are far not enough to support developers as full time developers. The worse thing is that most of peercoiners are not willing to make donations under the circumstance of losing money.

So I think as below:

  1. Have a company like Xxxxxstream to support developers;
  2. The transaction fee will not be destroyed but be collected as fund to support developments;
  3. After PeerAssets release, can we consider to collect some issue fee of assets to support developments?

[member=11274]ppcman[/member] great post! I couldn’t agree more.

Well said. Thank you for taking the time out of your day to write it :slight_smile:

I’ve noticed this is the case, and regardless of all the mental gymnastics I could not find the reason why do people feel like donation is a loss.
AFAIK, crypto’s are valued by their technology. Donating to a dude who will improve the technology is raising the price of the rest of your pile of Peercoins. You did “lose” some coins but you did not lose any value.

Thx for pointing this out publicly.

and what is the result?

                                                         and what is the result?

Result of halvening? Result of funding a dev team? Result of donating ppc? What result are you asking for and why do you think anyone can answer such questions succinctly or satisfactorily?

how does halving in peercoin work?

You raise the difficulty by factor of 16. In the meantime block reward will continue to drop as it is inverse to mining difficulty.

and what is the result?
a great innovation
need something new to investors.

Please stop asking ‘what is the result’ if you aren’t going to say of what. No one can answer a question that has no context like that.

English is not his first language.