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I vote for PPCoin - the eco-friendly coin that promises to get rid with the $4.5 million per month power consumption.

by zby 14y ago

lucb1e 14y ago
Could you explain how that works, or link to a good tldr article? I've read something about that it works based on amount of coins that you have rather than how much gpus/cpus/asics/..s you have, but I still don't really get it. Also what keeps Bill Gates (or his equivalents) from mining 90% of the coins? Or is mining different there? What about double spending attacks? Lots of questions... any good place explaining this? Thanks :)
- zby 14y ago
  Here is the whitepaper: http://www.ppcoin.org/static/ppcoin-paper.pdf http://www.ppcoin.org/static/ppcoin-paper.pdf And here is a FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ https://github.com/ppcoin/ppcoin/wiki/FAQ It is all very new - so sure it's not a bitcoin replacement yet and it might still have many holes in the protocol.
  - lucb1e 14y ago
    Whitepapers take forever to read and the FAQ still doesn't clear anything up...
BrokenPipe 14y ago
Could you explain why would I ever want to use a centralized currency like that ? It can't be trusted.
- zby 14y ago
  It is not centralized - have a look at the whitepaper: http://www.ppcoin.org/static/ppcoin-paper.pdf http://www.ppcoin.org/static/ppcoin-paper.pdf
  - BrokenPipe 14y ago
    It is, look at the implementation. https://bitcointalk.org/index.php?topic=101954.0 https://bitcointalk.org/index.php?topic=101954.0
    - zby 14y ago
      Interesting - I have to admit I did not get into these details before.
    - bugle 14y ago
      the "checkpoint" centralization is only meant to be temporary as a means to protect from a 51 percent attack during the mining phase and while the coin (hopefully) becomes more widely accepted. unfortunately, trust must be given to the devs that centralization will indeed be phased out in the future.
krichman 14y ago
It promises to give benefits for hashing to PPCoin holders. Won't it be even harder for poor people to get ahold of when the currency is the means of production?

I vote for PPCoin - the eco-friendly coin that promises to get rid with the $4.5 million per month power consumption.

by zby 14y ago

I vote for PPCoin - the eco-friendly coin that promises to get rid with the $4.5 million per month power consumption.

Could you explain how that works, or link to a good tldr article? I've read something about that it works based on amount of coins that you have rather than how much gpus/cpus/asics/..s you have, but I still don't really get it. Also what keeps Bill Gates (or his equivalents) from mining 90% of the coins? Or is mining different there? What about double spending attacks? Lots of questions... any good place explaining this? Thanks :)

zby 14y ago
Here is the whitepaper: http://www.ppcoin.org/static/ppcoin-paper.pdf http://www.ppcoin.org/static/ppcoin-paper.pdf And here is a FAQ: https://github.com/ppcoin/ppcoin/wiki/FAQ https://github.com/ppcoin/ppcoin/wiki/FAQ It is all very new - so sure it's not a bitcoin replacement yet and it might still have many holes in the protocol.
- lucb1e 14y ago
  Whitepapers take forever to read and the FAQ still doesn't clear anything up...

BrokenPipe 14y ago

Could you explain why would I ever want to use a centralized currency like that ? It can't be trusted.

zby 14y ago
It is not centralized - have a look at the whitepaper: http://www.ppcoin.org/static/ppcoin-paper.pdf http://www.ppcoin.org/static/ppcoin-paper.pdf
- BrokenPipe 14y ago
  It is, look at the implementation. https://bitcointalk.org/index.php?topic=101954.0 https://bitcointalk.org/index.php?topic=101954.0
  - zby 14y ago
    Interesting - I have to admit I did not get into these details before.
  - bugle 14y ago
    the "checkpoint" centralization is only meant to be temporary as a means to protect from a 51 percent attack during the mining phase and while the coin (hopefully) becomes more widely accepted. unfortunately, trust must be given to the devs that centralization will indeed be phased out in the future.

krichman 14y ago

It promises to give benefits for hashing to PPCoin holders. Won't it be even harder for poor people to get ahold of when the currency is the means of production?