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Here is the PowerPoint: http://www.piedpiper.com/app/themes/pied-piper/dist/images/Gilfoyle_s_Crypto_PowerPoint_-_Digital_Edition.pdf
My favorite excerpt: "There is a 98.745% chance of making 100x profit"
EDIT: Oh man, you should also check out the main page of the website. They even have a ticker: PPC PiedPiperCoin $0.07 USD Market Cap: $94,500 Volume: $7.14
PPC, of course, is Peercoin: https://peercoin.net/ (too late)
A lot of your questions can be answered in the first PoS implementation:
https://peercoin.net/assets/paper/peercoin-paper.pdf
The rich get richer claim is not true for PoS because anyone that owns coins can mint and get a % based reward. i.e. a minting account retains the same % ownership over the total marketcap through time. So if there are 100 coins one year, and you own 1, then next year when there are 101 coins, you will own 1.01 and the price/coin will theoretically go down by ~1%.
Some coins think it is a better strategy https://peercoin.net/
That said in both ADA and BTC it will be awhile till all coins are minted. Also gold has been used for thousands of years. That is a deflationary currency (store of value) and people still spend it.
2140?ish for BTC not sure about ADA. But its also nice for a store of value
Your Antivirus is likely blocking your download. You are trying to download from the official website right?
Disable your AV, download the file, upload to virustotal.com and verify the SHA-256 checksums are equal to the ones published on the website under "+ Signatures". If the checksums are equal, you're good to go and can install. After that whitelist the wallet-qt in your antivirus.
The official Peercoin-qt wallet still contains code for mining Peercoin which gives a false positive in antiviruses. My guess is that your other wallets are SPV clients or just don't have any mining code for their respective coins.
After 5+ years of running, peercoin.net have never had an incidence of getting their software compromised by hackers.
Of course you should always try and verify the published checksums once you do download, you never know if today is the day somebody managed to hack the devs.
The published SHA256 signatures are:
> File SHA-256 Peercoin_v0.6.1_win.zip 04ec0e385577ee21f6cd11f2c5b88efa2e4d129bea1198ef53e8c6ba828785fc Peercoin_v0.6.1_osx.zip 5ac49505633a64da0957f9615392afa1597d9d9f80609c0ffc3fbdf02f9565f1 Peercoin_v0.6.1_linux.zip c3e42572a1e62d7625051ddc75aea48171dba96d7a0c16a9fccdcd02ed8d8fa8
Peercoin is the original Proof of Stake coin and has been around the longest. It addresses the energy problems faced by Bitcoin and other fully Proof of Work coins. Many other coins have since followed suit, including Ethereum and the other various coins mentioned in this thread.
Proof-of-Stake (PoS) is an alternative consensus model invented by Sunny King back in 2012 and implemented in Peercoin. In PoS those who own coins can use their wallets to validate transactions on the network, staking their own coins. It takes almost no energy to do this, and as a reward the wallet owners get a small reward for staking their coins.
Peercoin 0.5.4 Release
https://www.peercointalk.org/index.php?topic=4569.0
Peerunity download
https://peercoin.net/download-peerunity
Please backup your wallet.dat and keep your wallet.dat, and then delete blockchain and redownload blockchain.
He certainly designed Casper with the knowledge of the existence of DPOS, but there were already a bunch of much older PoS schemes ( used by Peercoin in 2012 among others ) I think inspired him equally or even more.
> PPC, of course, is Peercoin: https://peercoin.net/
They really need to revise the voiceover work in that “What Is Peercoin?” video on their intro page. I don’t know if it’s because I watched it under context of a comedy show like Silicon Valley, or if the narrator actually has an ironic tone, but the majority of the video came across as a parody of crypto, haha, just because of the guy’s inflections.
It sounded like he was making fun of how many coins/tokens there are out there, blind investors, and major fears of crypto users. (The really robotic, cartoon graphics/sounds didn’t help much either, haha.) Kinda reminded me of the product advertisements found in those old Fallout games. I had to look up Peercoin on CryptoCompare and CMC just to be 100% it was an actual thing — not a knock on the technology itself or anything, just the tongue-in-cheek that intro video gave me.
P.S. – About Peercoin itself though, there were some facets of the tech described in that video that reminded me a little bit of IOTA; would you happen to know if they are competitors or even just overlap each other a bit? Sorry for the immediate “coin vs coin”-type question, haha — I’m just a long term holder and haven’t been keeping up with new hot topic coins or anything for a while, and I don’t have time to go through their whitepaper or anything until later tonight probably. You don’t have to answer if you don’t want to, but just thought I’d get a “nutshell” response to that question while I’m here. Thanks for the consideration :)
Hello gravityguide,
The questions you are asking are two different ones. To answer your first question, yes you can easily move your wallet to an external hard drive or even a usb. What you would need to do is download the peercoin wallet here and install it on your desktop. Create a wallet and sync it to the peercoin network, then create a seed and make sure to back-up the wallet by copying the wallet.dat file onto an USB stick or external harddrive. Then you can send the peercoins to your wallet. After that you can delete the desktop wallet and when you need the funds you can recover the wallet again.
The second question would be whether you could put the full blockchain on your external hard drive. This process you are describing is possible but depends on the size and speed of your external hard drive. You could do it but it would probably not be as usefull since it would be disconnected from the blockchain each time you unplug it. This means that you need to manually resync and update your wallet everytime you reconnect it. This can be done however the exact instructions are hard to find. You could check instructions of how to sync the bitcoincore from an external hard drive since their wallets are similar. These instruction can be found here.
With kind regards,
The Anycoin Direct team
The calculated SHA-256 checksum your total scan shows for Peercoin_V0.6.1_win.zip does NOT correspond with the one posted on Peercoin.net.
This I would say is a bit concerning, how exactly did you proceed? The hash you should be getting is: >04ec0e385577ee21f6cd11f2c5b88efa2e4d129bea1198ef53e8c6ba828785fc
Honestly, because scams today are so elaborate and complex it's hard for me to go through their GitHub repo's, ICO websites etc. and know wtf is going on.
I earn my bread and butter on the yearly trades, I've held XMR and LTC since the beginning but I'm starting to get worried about the long term consequences of PoW only consensus systems as outlined by Sunny King in his white paper. I'm not convinced PPC has it right, hence my investment into other coins as well, but I'm confident that SegWit in BTC is only a temporary solution and in some years, we'll see the "fee wars" return.
It's sort of a weird hybrid.
From their website: > Proof of Work mining is used to spread the distribution of new coins, while the security of the network is maintained entirely by Proof of Stake minting. This means that Bitcoin mining vulnerabilities such as Selfish Mining do not impact Peercoin security.
The original PoS idea was completely different. It's described in the Peercoin paper (pdf).
Basically it's like PoW except instead of consuming electricity, you consume "coin age," which is your number of coins, multiplied by the amount of time since they moved. Doing this sets coin age to zero. The chain with the most accumulated coin age consumption is the winner. There's no betting or potential loss of coins, just a reliance on the idea that people with a lot of stake are motivated to defend the currency.
The "nothing at stake" problem is that a staker could consume coin age on lots of different chains without penalty.
Although I am hoping the increasing use of renewables will make Bitcoin greener in the long term, I think it's important to note that one of the motivations for Proof-of-Stake instead of Proof-of-Work was lower energy consumption.
From the Peercoin whitepaper (that pioneered Proof-of-Stake as long ago as 2012):
A peer-to-peer crypto-currency design derived from Satoshi Nakamoto’s Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. Security level of the network is not dependent on energy consumption in the long term thus providing an energy-efficient and more cost-competitive peer-to-peer crypto-currency.
https://web.archive.org/web/20171211072318/https://peercoin.net/assets/paper/peercoin-paper.pdf
Although I am hoping the increasing use of renewables will make yours a moot point, I think it's important to note that one of the motivations for Proof-of-Stake instead of Proof-of-Work was lower energy consumption.
From the Peercoin whitepaper (as long ago as 2012):
>A peer-to-peer crypto-currency design derived from Satoshi Nakamoto’s Bitcoin. Proof-of-stake replaces proof-of-work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. Security level of the network is not dependent on energy consumption in the long term thus providing an energy-efficient and more cost-competitive peer-to-peer crypto-currency.
https://web.archive.org/web/20171211072318/https://peercoin.net/assets/paper/peercoin-paper.pdf
We actually released our wiki along with our website yesterday. There are 3 main educational resources to choose from...
CfB was the first to implement a full PoS system, but did not "invent" PoS -- even he will admit this himself. He shared this PDF from 2012 when asked about the source of PoS: https://peercoin.net/assets/paper/peercoin-paper.pdf
Claiming CfB invented PoS makes the community seem uninformed. CfB never said he invented PoS.
Thanks for the note on the misspelling CookieDoh. We will get that fixed.
MOIN's utility has not yet been revealed publicly but the underlying technology for MOIN is explained in the following whitepapers:
Shadow - Encrypted messaging & Anonymous tokens
thanks again for finding that error
+/u/mointipbot @CookieDoh 2 moin
**deleting and posting this again because i got the tipbot synatx wrong the fist time
Thanks for the note on the misspelling CookieDoh. We will get that fixed.
MOIN's utility has not yet been revealed publicly but the underlying technology for MOIN is explained in the following whitepapers:
Bitcoin Peercoin Shadow - Encrypted messaging & Anonymous tokens
thanks again for finding that error
+/u/mointipbot @ CookieDoh 2 moin