https://blog.p2pfoundation.net/peercoin-crypto-with-price-stability/2013/12/05 Researching, documenting and promoting peer to peer practices Sat, 25 Oct 2014 10:41:47 +0000 hourly 1 https://wordpress.org/?v=5.5.15 https://blog.p2pfoundation.net/peercoin-crypto-with-price-stability/2013/12/05/comment-page-1#comment-573370 Fri, 13 Dec 2013 07:11:29 +0000 http://blog.p2pfoundation.net/?p=34590#comment-573370 […] Peercoin is a cryptocurrency inspired by Bitcoin and built on the same concept, but with some important differences. Peercoin has introduced a less calculation intensive concept called “proof of stake” which is more economical with computing power. Peercoin’s programmers have found a way to counteract the deflationary spiral that is characteristic of Bitcoin. The currency is programmed to have a yearly inflation rate of 1% – quite in line with and actually better than most of the fiat currencies we are using today.  […]

]]> https://blog.p2pfoundation.net/peercoin-crypto-with-price-stability/2013/12/05/comment-page-1#comment-569601 Fri, 06 Dec 2013 02:00:27 +0000 http://blog.p2pfoundation.net/?p=34590#comment-569601 One misconception that I feel may pose a problem is the matter of the .01 fee. Sunny King has stated that Peercoin is to be a “backbone” currency rather than a day to day currency for buying bread as an example. Other currencies with lower fee structures are in a better position to be adopted by consumers and merchants for this purpose. Therefore the argument for Peercoin as a transactional currency misguided unless Sunny/the majority choose otherwise. With Peercoin they are not looking to be the one and only crypto currency but a complement to others living in symbiosis. Peercoin is here to say, it’s full potential is yet to be realized.

]]> https://blog.p2pfoundation.net/peercoin-crypto-with-price-stability/2013/12/05/comment-page-1#comment-569580 Thu, 05 Dec 2013 23:54:35 +0000 http://blog.p2pfoundation.net/?p=34590#comment-569580 Laudible intentions and clearly some improvements to bitcoin, but I don’t think it really addresses the fundamental problems of bitcoin.
Its great that there is an elastic limit, although the engineers perhaps don’t realise the importance of the political process behind that limit.
Why is any inflation desirable or necessary?
Other cryptocurrencies sound more exciting, which for example clear payments faster or provide better anonymity.

]]> https://blog.p2pfoundation.net/peercoin-crypto-with-price-stability/2013/12/05/comment-page-1#comment-569536 Thu, 05 Dec 2013 21:22:09 +0000 http://blog.p2pfoundation.net/?p=34590#comment-569536 Great article, thanks. You can also say that Peercoin will be more decentralized than Bitcoin because a few high-powered miners in the future will secure the Bitcoin network while average people (many, many more) all over the world will secure Peercoin. Cryptocurrencies have flourished largely because people desire a decentralized international currency. Bitcoin is not designed to fulfill this mission. Peercoin is.

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