Analyzing the 2013 Bitcoin fork: centralized decision

An analysis of the state of ppc at the moment.

Disclaimer; Do not overly rely on the information below, a large part of this is speculation, and while I have done a bit of research I do not claim to be any kind of authority on PPC.
If you find any mistakes please inform me and I will attempt to fix them ASAP.
What ppc has going for it
  1. PPC is relatively fast compared to most other crypto currencies, and has a fixed transaction fee unlike other crypto currencies such as bitcoin.
  2. Is so far the only crypto coin built on the idea of proof of stake(yet).
    [Why should this matter?; In cryptocurrencies based of proof of work, things like confirmations(e.g; a lot of exchanges require 3 to ten confirmations before they accept your bitcoin) are done when blocks are mined, this is fine as long as blocks are being mined, but when an error occurs(like TRC yesterday) where a difficulty adjustment results in a large amount of the miners leaving, the currency grinds to a halt and no transactions can be completed. With proof of stake coins which have allready been mined carry out these functions, so ppcoin can continue to function even in the absence of miners.]
  3. Energy Efficency; This leads to Peer to Peer Coin's third advantage, not being dependent of miners like other crypto currencies PPcoin is free to be energy efficient.
    Explanation; Bitcoin miners are buying bigger and bigger machines and using more and more electricity to generate Bitcoins, while not too much of a problem on this scale if Bitcoin ever becomes as big and as accepted a means of payment as credit cards or paypal the amount of power being consumed globally would be staggering, and very very inefficient(as all this is being wasted aside from the generation of Bitcoins.) PPC however adjusts difficulty geometrically as the popularity of PPC grows. So in such a scenario while the value of PPcoin might be astronomical, difficulty would scale so that it would be financially unprofitable for too many people to be mining. And thanks to proof of stake PPcoin would continue to function in such a situation.
  4. Growing acceptability; PPC is being adopted by bigger exchanges such as BTC-e on the fifth of april, as well as hints of ppc at mtgox. Additionally PPC now has the third hightest Market Capitalization
Summary; PPC is fast, reliable, resistant to scenario's which cripple other altcoins, and is designed for the long term, and seems to be slowly growing in acceptability.
What is going against PPC
  1. While it has potential very few places currently exist which accept PPcoin. Bitcoin is now becoming accepted in several "real" shops, while litecoin now has it's own silkroad in the form of Atlantis. PPC unfortunately(like many of the other altcurrencys) does not yet have any such marketplace, and its only current use is the purchase of bitcoins.
  2. PPC's value is currently fluctuating heavily, Vircurex's server issues right before BTC-e's implemetaion of PPC resulted in PPC experiencing its first major bubble in its first few hours unlike most other altcurrencys first few weeks.*
    *[mostly speculation; This might be as people knew that the supply of ppc would rise as soon as Vircurex came online, and were determined to sell before this lowered the value of ppc. Combined with people focusing on TRC as it was added to BTC-e first, and being suprised when due to the miner issue PPC reached the market first, and overbidding in their haste.]
  3. A more temporary issue; PPC might soon be flooded as Vircurex comes back online, and if people panic and flood the market with this additional supply. HOWEVER given that the current price of PPC is currently equal or below the level of ppc prices before Vircurex closed, and additional currencies are in Vircurex the price of ppc might not actually fall all too much as people might refuse to sell at a loss.
Conclusion; While PPC is designed to be used on a wide scale, and seems to be growing in acceptability, it doesn't yet have enough services, and is facing a risk of collapse. So if PPC survives its current difficulties it should grow to equal and eventually exceed litecoins, but only if it manages to weather it's current pricing issues.
edit; so if you want to help PPC succeed, please build services which accept ppc.
edit 2; Issue three has passed. Hooray.
submitted by bagog to ppcoin [link] [comments]

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After a discussion on #bitcoin-dev, it seems trying to get everyone on the old chain again is the least risky solution. If you’re a miner, please do not mine on 0.8 code. Stop, or switch back to 0.7. BTCGuild is switching to 0.7, so the old chain will get a majority hash rate soon. The infamous Mt. Gox saga will finally meet an end in the Japanese Courts on 15th March 2019. The owner of the exchange, French Mark Kerpeles, 33, is accused of ‘faking digital data and embezzling millions of dollars ($3 million).’; If found guilty he will be heavily penalized and might serve a sentence of ten Mt. Gox’s MagicalTux is back, oblivious as ever killhamster bitcoin , buttcoin , funny , magicaltux , mt. gox , twitter 0 Comment June 20, 2014 After months of silence following the totally unexpected and catastrophic collapse of the Magic: the Gathering Online eXchange , its CEO Mark Karpeles (AKA MagicalTux) has returned to the internet Mark Karpeles (@MagicalTux) Mark Karpeles is the owner of the world's largest bitcoin exchange, MtGox. As of April 2013, the Tokyo-based MtGox handles 63 percent of all bitcoin transactions Bitpay fired 9 people which was good for bitcoin because reasons. Cloud miner CEX.io have halted mining because they couldn’t make any money on it any more. That was when the price was still at $270. So there’s no money to be made by cloudmining at $270. The current price of $230 will surely be great for bitcoin and miners.

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