Post
Topic
Board Bitcoin Discussion
Re: Should we support altcoins ?
by
MaxBTC1
on 08/11/2013, 18:41:45 UTC
Yes 100%

But its important to support the right coins.

For me these are Litecoin (silver to Bitcoins gold) and Peercoin.  Peercoin is a really nice alternative.

For those wondering about Peercoin (PPC):
Whereas proof of work generates bitcoins using computational power, proof of stake relies on the coins that people already have in their possession.

The network gives people more coins based on how many they already have, under a minting algorithm that acknowledges the age of a coin (giving a whole new meaning to the phrase ‘old money’).

The idea is to create a system that uses less electricity than a proof of work-based system. Other benefits also include low inflation – transaction fees are destroyed to offset inflation from proof of stake minting – and longer-term stability.

taken from: http://www.coindesk.com/peercoin-vault-of-satoshi-deal/