Primecoin Prerelease

[calian]

Honestly I feel bad for recommending PPCoin to a bitcoin business earlier in the week. Do you believe in PPC or have you become disillusioned with it?

[Sunny King]

I think I have explained it clearly. It's expected some of our supporters and investors would not take well with this decision to release a complementary coin.

Even though I am doing most of the work currently, I expect Scott to return to the team at some point, and there are occasional interest from other developers to help with development as well. And yes I will look to expand the team with marketing and apps talents as well.

Maintaining two blockchains wouldn't be as bad as some of you thought, because most of the work in maintenance is redundant.

[lovecraftian]

After getting over the initial shock, I like this decision. This is a bold strategic move to gain market share of the existing demographic that favors PoW, which can then be transitioned to PPCoin in the future.

This.

I think there is a fantastic opportunity here to market & develop PPC by directly linking the two currencies as being from the same family but having significant innovative differences ie. we're not looking at "yet another clone" but a technological progression that complements its older sibling. I'd very much encourage that ppcoin.org is used as the official site of the new coin and that this forum also transitions to handle PrimeCoin. It would also be nice to have a collective name for the two coins to emphasise the link. This is a good move on Sunny's part, it gives us a chance to significantly grow mindshare and community.

[craslovell]

On the fence about this right now, but I will definitely be watching.

[FuzzyBear]

I have consistently been impressed with SunnyKing's work and PPCoin, I would support him with other currencies that he released and I would like to see this forum also support Primecoin so would people be interested in me adding a Primecoin section here? Already had one response but feel that the community may feel a little divided right now, so please feel free to PM me your thoughts or I can start a thread for that.

I feel that as much as there is concern for one person to be taking the sole responsibility for a blockchains core development, I have to agree that new devs will come, and that most of the work for PPCoin is either done, or does not necessarily need the core developer to do the work right??

Would like to see some benefit to the PPCoin community for supporting PPC and Primecoin, but not sure how that would work without people crying out something not fair... any thoughts?

FuzzyBear

[sahkan]

I have consistently been impressed with SunnyKing's work and PPCoin, I would support him with other currencies that he released and I would like to see this forum also support Primecoin so would people be interested in me adding a Primecoin section here?

I think it would be appropriate to add the section because it does not matter if you like it or not it will still happen.

I must say, I am not a big fan of trying to do too many things at once but after initial thoughts I am ok with this new coin. When I see people write about different coins they use words like "rival", "compete", "take away from", "replace" etc. and when I think of bitcoin vs alt-coins I lean towards words like "complement", "improve" and "support". I think that over time crypto currency market will become more like a stock market where instead of multiple companies you will have multiple trading currencies. Innovation will only improve the coins over time, the weak coins will die anyway as they are already being killed with 51% attacks. This is ground breaking technology and it is good that we continue to improve.
I would like to know what will be the block reward and target amount of the new coins? I can also see that it might be somewhat popular with a younger generation that does not own any asic/gpu rigs ... now I am just hoping that instead of getting primecoin market place next we will get the updated client for PPCoins...

[Excelsior]

My thought is that we might embrace this new coin and help it and then discover one day that it completely destroys ppc. It's not clear to me if Sunny hopes this new coin to be a kind of temporary WMD to bitcoin's dominance (and thus a huge clever ploy to strengthen ppc) or an actual legitimate long-term currency that may or may not completely displace ppc (because what does he care? He'll own millions of each coin anyways).

Which is it Sunny? What is your intention really?

[Sentinelrv]

My thought is that we might embrace this new coin and help it and then discover one day that it completely destroys ppc. It's not clear to me if Sunny hopes this new coin to be a kind of temporary WMD to bitcoin's dominance (and thus a huge clever ploy to strengthen ppc) or an actual legitimate long-term currency that may or may not completely displace ppc (because what does he care? He'll own millions of each coin anyways).

Which is it Sunny? What is your intention really?

I don't really see how this would destroy ppc. In my opinion it's as Sunny said, a temporary coin to be used while energy intensive coins are in fasion. But in the future that fasion will most likely switch to favor energy efficient coins. I haven't seen anything to assume Sunny has evil intentions, so I'm going to take him at his word.

[Sunny King]

Yes I would love to see primecoin and ppcoin communities to stay close to each other as well. As I said primecoin is meant to be in a strategic synergy with ppcoin. So we definitely want to constantly remind people that both innovations come from the same team and this strengthens our reputation, further differentiating us from the army of copycats.

I believe pure proof-of-work cryptocurrencies have limitations that prevent them from attaining sustained domination. This applies to primecoin as well, so even if it does become a successful project I don't think it could 'destroy' ppcoin. litecoin's success did not destroy ppcoin either. Both ppcoin and primecoin have the potential to do well.

After primecoin release the ppcoin v0.4 release would take priority. Although you should be able to trade primecoin for ppcoin on ppc marketplace before any exchange support 

[jubalix]

if i read this right I think Sunnyking is trying to make a bridge to PPC in someways with PrimeCoin

aslo sunny looks a bit board with himself, eg the fact he can help so many other coins, shows he has spare capacity that can not be consumed by PPC

[Excelsior]

Okay, that kinda makes sense. It seems like you Sunny created something almost too ahead of its time (ppc) and realized that you could create a better coin for 'right now'... and use its success toward helping ppc, ultimately. In a strange way though, that makes Primecoin like a slow-motion pump and dump scheme... since you believe it will fail ultimately. That doesn't lend Primecoin a whole lot of legitimacy. Seems most investors in Primecoin would not be in it, knowing that, for the long haul. They would be trying to get in early and get out before the 'dump' happens (unless they don't believe in pos and in that case, are simply jumping to a better bitcoin for all time).

It's then, truly, a technically brilliant and innovative slow motion (years even) pump and dump coin that aims to boost ppc in the far-off end. Am I wrong? Isn't that what it is in a nutshell?

Something we can all get rich off of by getting in early... and use to strengthen ppc, our beloved best coin (which then itself will make us rich again, 5-10 years from now and change commerce around the world)?


If so, then why not. Let's embrace it and have fun with it. Let's combine it with PPC's webpage and forum. But Sunny... you gotta stop making coins then, okay? I only have so much investment money! 

[irritant]

from a marketing point of view it is genius, people talking about the coin created by the creator of ppcoin, people who haven't heard about ppcoin will learn about it, and to show the skills of the developer(s) that it is possible to really make something new instead of just copy/paste, from technical point of view .. still have to wait and see, it could have faster transaction confirms but I don't know, and maybe other cool features (namecoin kind of stuff?) 
so, can this daughter currency have a daughter forum on its parents currency forum?

[D3tail]

from a marketing point of view it is genius, people talking about the coin created by the creator of ppcoin, people who haven't heard about ppcoin will learn about it, and to show the skills of the developer(s) that it is possible to really make something new instead of just copy/paste, from technical point of view .. still have to wait and see, it could have faster transaction confirms but I don't know, and maybe other cool features (namecoin kind of stuff?) 
so, can this daughter currency have a daughter forum on its parents currency forum?

Well, this is pretty true...as a marketing move its pretty good.

I'm not totally sold on the idea, I'll admit it...however, Sunny has earned my trust and I've come to realize that he actually thinks through his moves like a master chess player up to 8 moves in advance....its really quite refreshing in many ways as its so uncommon for people to do that...all I'm saying is that I'll support this coin as well, even if I don't totally get it because Sunny, without exception, has known what he's doing in the past.  I see no reason to think that has changed here.

I'm having trouble understanding the move for a coin that Sunny has stated himself believes will fail in ~five years, so I'm just going to assume that there is some play that I'm not seeing clearly here.  If its just a project to generate revenue faster (ie a year or so) for holders I get it, then those funds could go to the development of PPC overall...meaning time for Sunny to do it.  I just know, as do most other PPC backers that a few million five years from now is a hell of a lot better than a few thousand in a few months.  I'm thinking Sunny has to realize that as well. 

Note: Its not a blind zealotry type of faith I have in Sunny, its just that I think he's been right enough in the past to grant him this one. 

[Sunny King]

I never said primecoin would fail in 5 years, what I mean is that it should give us a better overall grip at the market in the next 5 years. It is designed to last longer, as long as bitcoin and litecoin that is. I would not say this is sort of 'WMD' to bitcoin's dominance, that would be arrogant for me to say and I have too much respect for Satoshi and the current bitcoin development team. It's really a tool to help us position against litecoin, which now has a too strong momentum for ppcoin to challenge by itself alone in the short term. If primecoin is successful, it could demonstrate the limitation of pure proof-of-work systems and help to level the playground faster.

The thing that perplex me somewhat is that, there are many decent developers and other talents around, but at this point most of them just want to start their own clone coin. I hope this is just a transient fad because of the recent success of litecoin, and later on people would realize it's more fruitful to just take a stake in a good coin and join an existing capable development team. For example, talents like Robert (dreamwatcher currently running explorer and leading JKC), and like Peter Bushnell (currently leading FTC who seems to be good at marketing and management), and many others who are capable of doing apps like basic auction site, escrow, games etc that think they can clone a coin and then leverage their app skill on it. In my opinion if the app is that good you don't need to start a coin, you can just support most popular coins out there already and become a market leader for that particular app.

I believe as we approach 100 altcoins competing in the market soon the attitude in the market would change a bit, then we would be able to see more talents interested in joining ppcoin/primecoin team.

[Excelsior]

I think a lot of them do it for the ego thrill. It feels pretty bad-ass to start your own coin. I think you are more mature than most developers and therein, selfless.

I knew you might bristle at the WMD comment, and I mean no disrespect by it, but to me it's just semantic of a reality. I think going after Litecoin is very much going after Bitcoin (they are so similar in design). I know you highly respect others in this field and I like that you do, but in the end, the designs compete and your creations very much could 'destroy' others' hard work. Call it an evolution, call it a team effort of experiments tried and failed, but it's also brutal and combative in essence.

You could always pm the other developers and simply try to convince them to join us (especially when their coins are failing). You have a respected name around here and your own direct, personal plea could do wonders I think. The right words and ideas have always stirred many hearts in history.

And this is history, no?



There's never any harm in asking. There's nothing to lose.