Although many still criticise it with 'instamine scam' labels, that is actually just a load of b.s. Even the distribution issue is now getting sorted out because the recent process have attracted high volume off-exchange buyers which have split the original holdings many times and these are finding their way into the lower tiers.

One argument that is constantly brought up is that the original holders made "too much money". I'd like to know what "too much" actually means other than as an expression of jealousy. It's noticaeable that such critics never have the balls to come out and state categorically that it's unethical and why it's unethical.

I can tell you why that is - because an "unethical" distribution would amount to taking money for something which has no market value, or who's market value is about to disappear and that isn't what's happened here. In fact the opposite is the case. No investor since it's launch is down on their investment unless you bought within a tiny timeframe during the last few days when the price peaked - and even then you'd only be down about 10%. Critics keep saying that the original holders are going to "crash the market" and leave everyone penniless and it keeps not happening and has less chance of happening with each month that the currency gets traded.

So all this 'scam' stuff is just empty garbage trotted out by the world-improver mining community thinking they're on some kind of ethical crusade but who are in fact clueless about how markets really work. Thankfully, there's only the odd one left now because the rest are all invested  

URGENT: All Peercoiners, starting tomorrow we'll be having a huge 3 day PR push. We'll need everyone possible to join in and help us out. Please check www.peercointalk.org tomorrow for all the details. You should also be receiving an email about it tonight if you're part of the forum, 2 emails if you're part of the team.

For non-team members, watch the Peercoin General Discussion board for threads by JustaBitofTime. He's the one directing this effort. Please help out if you can!

I think in reality if PPC is to become a real currency people use to pay daily expenses, then [EDIT] in a percentage sense [/EDIT] not only the rich will get richer and poorer get poorer, but also that determined people who own most PPC will own most of the PPC in the world. I explained it here http://www.peercointalk.org/index.php?topic=152.msg4987#msg4987 and here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106.  I update it here again:

Given that
1) POS is generated only by stakes -- the ppercoins in a wallet that haven't moved in 30 days. If we consider compound interest, the POS income rate is slightly higher than 1% per year.
2) PPC are mostly minted by POW today but the goal is that eventually most of peercoins in the world are generated by POS.
3) There is no cap of the total amount of PPC, therefore, there is no limit in how many new POS peercoins will be created.
4) If PPC is to become a real currency which people use their PPC to pay daily expenses, the poorer people tend to have most of their PPCs in curculation, and the richer people can afford to side aside more PPCs as POS generating stakes. Just look around, the poorer poeple have less in their saving account.

We get:
1) Most of the peercoins in the world will go to the POS stake owners.
2) Those who are determined not to spend their PPC will not only receive most of new peercoin in the furture, they will eventually own most of PPC in the future (certainly more than 51%).
3) Those who spend the coins will own less and less percentage of the PPC money in the world. They may or may not be poor in term of purchase power, depending on how well the economy does. But in term how much PPC they own, those who have to spend will loose out slowly but surely. In this sense one can say the rich get richer and the poorer get poorer.

I agree that the POS miners should be compensated for keeping the network secure. But should they autmatically own the world eventually,  at not cost and no risk? This is a social question.

Then many have the question who are these poeple who could own the PPC economy? Will they be a few people that could be a weak link in the security of network? The answer appears to be no after some research. Since mint rate of POW is still about 40 times higher than POS now ( http://cryptometer.org/ppcoin_104_week_charts.html ), we are still quite some time away from the point when the POS money supply overwhelms POW money supply. Currenly the total POW minted coins is 2500 times more than that from POS. So there appears enough opportunity to allow spreaded ownership of PPC. Concentration of PPC ownership is probably no worse than POW coins. What I originally said in the last paragraph here was wrong.

I proposed a solution to this eventual problem here http://www.peercointalk.org/index.php?topic=152.msg5106#msg5106 , basically by eliminating the 30-day waiting period for discussion.

There is no need to calculate anything exactly, just look at frequency of PoS and PoW blocks on explorer and compare with situation
not so long ago (around a year, to be precise) when there were only PoW blocks which were mined at insane speed, each returning
around 2500 PPC. Complete daily generation right now is something Sunny and Co. mined in just few minutes less than a year ago.

PPC block 1 > http://ppc.cryptocoinexplorer.com/block/00000000000be4e024af5071ba515c7510767f42ec9e40c5fba56775ff296658
PPC block 2 > http://ppc.cryptocoinexplorer.com/block/0000000000fdfc564b25df5858ad9f5e3378d9102a22d5c785f9ab92ec3a304a
PPC block 3 > http://ppc.cryptocoinexplorer.com/block/000000000055f87a91082072032be5debae41a799e8a0c41a0f9d02ccc8977b7
PPC block 4 > http://ppc.cryptocoinexplorer.com/block/00000000002180942a935d0a81e94694c90dc76d35304b347096e60fd281041a

Around 10k PPC mined in like 8 minutes, check it up. And it went so much worse in next few weeks. Have you ever checked generation
over time graph? I doubt it because it does not actualy interest you and many others here to know the truth. All you actualy know are
irrelevant bullshits and propaganda which you yourself and alikes are now repeating because it suits your interests. I know that you
would love, just like real world scumbags, to hide the truth and make big money off those made oblivious of it but that won't ever work
here because there is damn publicly available ledger of all transactions, and there are people like me who will point to it occassionaly.

I don't see you are learning anything from stuff I'm posting so I'll cancel debate on topic, for now.


On eco matters, saving the planet and similar shits, see http://www.youtube.com/watch?v=EjmtSkl53h4 for the cold hard truth, BRO!

One major misconception on this coin is people think it acts like any other coin out there... in one way it does, but for the most part it doesn't.  Bitcoin, Litecoin, etc, all use a hash.  Since the hash needed is random, it takes time to find.  This is the only area where primecoin is like the others, in that it is a random chance to get the right variable to find a prime.  Where primecoin diverges is that it can never reuse a number already found.  Bitcoin and Namecoin can use the same hash and be 'merged mined', primecoin alone can never be merge mined.

The basis behind blocks is finding Cunningham Chains of length N where N is the difficulty rating.  What does this mean?  The smallest known length 9 chains are:85864769  and
857095381 (1st and 2nd kind).  The proof of work on this coin is such that once a prime chain has been found, it cannot be reused.  So each prime found means the one less prime that can be found.  Look at the records primecoin has found in length 9 chains: 2030793138184474269420052163338592688212588454185304749794006580858788424425799 69*179#-1 is 151 digits long!  In a way, the nice thing on this is that as time goes by and the length of these primes gets up into the 1000+ digit range, difficulty will start coming down as they become harder to find and we'll start finding larger 8 chains and larger 7 chains.

Therefore the metric for finding blocks is ever changing, you can't count on what works today being the best thing to do in 2 weeks time as well.  This is an ever changing coin and people really need to start thinking outside the box.

That would explain the difficulty decreasing by .001 over the last 3 hours.

Now that CPU mining has hit it's limit, what will GPU mining bring?

Block time seems to be roughly around or above 1 minute now.

Are all the botnets priming away? Or  is that why the block times are so normal?

EDIT: nvm seems it was only for a few blocks.

What I can do, to be protected from this in the future?

I had my first found blocks from 3 days, when change with new client and all go to orphan. I understand if any immature stay unconfirmed forever, but all to go to orphan?! Explain! if it's not SCAM?

How do you see the orphans?

Gold has an inherit store of value.

Bitcoins have value because you can buy stuff with them and they now have a track record of enabling both on and off the record 'fiscal' transactions.

Finding cunningham chains for fun while generating primecoins as a by product does not produce a *demand* to purchase coins- which is what is required to drive price - but merely increases *supply*.

i was just thinking the same exact thing. no block for 10hrs so far with 2100pps~  

ty, how do I do that? google/reinstalling primecoin isn't helping.