It's only been 4 years and already people forget how FAST things change. You should see this!!
Bitcoin was only $111.87 back then.. and Litecoin was only $3.38
Where is Peercoin? THERE IS NO PEERCOIN?
Yes there is at #3 it was called "ppcoin" which meant Peer-to-Peer Coin.
Unfortunately a lot of people kept pronouncing it pee pee coin and all the young traders just kept laughing at the name. The technology was sound, and the name "Peer-to-Peer Coin" was pretty good. But the abbreviation of pee-pee just turned people into giggles and they wouldn't follow it based on just the name.
ppcoin is now just called PEERCOIN but the trading symbol is still PPC
So where did it go? Why is Peercoin so low on the coinmarketcap list? That's right. Today it is #55 on the list...
...but the value is no longer 28 cents any more. Today Peercoin is trading at $2.33 which is not bad at all.
There seems to be a simple fact that people don't realize ..
- If you had 50 Bitcoins in 2013, in 2017 you would still have 50 Bitcoins
- If you had 200 Litecoins in 2013, in 2017, you would still have 200 Litecoins
- If you had 2000 Peercoin in 2013, in 2017 you would have MORE THAN 2000, because simply holding Peercoin in a wallet and running it, allows you to mint FREE coins every 30 days if you are lucky enough find a block.
(The longer you hold coins, the more coinage it accumulates until 90 days. After that, your reward owed keeps incrementing too. So if you hold your coins even longer, you eventually will get paid every thing that is due to you)
Peercoin awards its holders approximately 1% a year, which doesn't sound like a lot, but it does add up pretty good. The more you own, the more you can mint. This is the network's way of rewarding you for supporting the network.
For example, if you found a PoS block, and you had 2,000 coins, you would MINT 20 peercoin for free.
Now let's pretend for a moment that Peercoin was worth $2613 like Bitcoin was right now... and it's not far fetched either, because 4 years ago, when Bitcoin was $111.87 no one expected it would be worth $2613 either.
...so if you bought in 2,000 Peercoin and you minted 20 PPC, you could mint $52,260** USD just by holding Peercoin in your wallet.
** That's if Peercoin is worth what Bitcoin is worth today.
A lot of early adopters of Peercoin (which I will call Peercoiners) already did their research on this, and know this... but they have been spending a lot of time waiting for every one else to "get it"... well I'm not waiting for it. I'll share the Peercoin situation with every one publicly right now, so you can discover Peercoin before the inevitable happens. Peercoin is (and always has been) the next best thing to Bitcoin in my opinion, and many thousands of Peercoin owners agree.
Peercoin is a much better design than Bitcoin for store of value, and movement of wealth. If people would get past the pee pee thing... they would have seen this 4 years ago. (It takes people time to warm up to some thing new and it's happening as you read this)
What's also interesting is that if no one mined Peercoin with SHA256 and ASIC miners (because it is a dual coin, it does both PoW and PoS)......
Peercoin's network will still run!
So huge proof-of-work mining houses, like the huge ones in China could never ever mine a Peercoin block ever again, and that doesn't stop Peercoin's network. Peercoin continues to run because of its Proof-of-Stake system.
Bitcoin does not use proof-of-stake
Litecoin does not use proof-of-stake
Peercoin DOES use proof-of-stake as its primary method of securing the network at a very low, economical cost. Even an old laptop can use its slow cpu and still mine coins.
Let's say you had $2500 to invest in cryptocurrency today...
You could not even own 1 single Bitcoin
You could only own 50 Litecoins
BUT! With $2500 you could own 1,072 PEERCOIN (PPC) @ $2.32/coin
- Now let's say that Bitcoin goes up $20, you made $20
- Now let's say that Litecoin goes up $20, you made $1000
- Now let's say that Peercoin goes up $20, you just made $21,440
So when buying coins with a low investment, it makes more sense to put your money into some thing with a long history like Peercoin than it does buying the most highest price expensive coins out there.
Do you know that people already send funds with Peercoin instead of Bitcoin? The PPC network is rarely late with its blocks and is really low transaction volume even if it can support a LOT more.
If the August hard forking of Bitcoin causes problems I would expect Peercoin to take over a lot of that transaction load.
So in 4 years, Peercoin is up: 832%
What a great investment it has been for people who have held it that long. What will we see happen in the next 4 years?
It would make even more sense to buy vericoin, stake 3% and mine verium on top of that. Well, I guess it was beside the point.
Vrc = 50 cent
Do the same math tricks, adjust for a mcap that is 15 mill usd
And you can achieve the same with less capital.
Blackcoin is a fork of Peercoin
Vericoin is a fork of Blackcoin
Both of those are proof-of-stake coins, copied from the original Peercoin source code.
More coins (3%) isn't necessarily good. There was Netcoin for instance, that was 45% year interest. When you get too much interest, people sell them all and now Netcoin is worthless.
Peercoin is the original proof-of-stake coin written by the original programmer.
Peercoin is underrated. I think is has proven to be a very stable network as first of its kind.
The 2013 listing brings back sweet memories. I noticed Devcoin on the list. Devcoin still exists, although barely alive. In some way, Devcoin could be considered a kind of predecessor of Steemit: by the community for the community. Although much more loosely organised, Devcoin also had a website for writers to post articles and earn Devcoins, called Devtome. Writers and artits earned Devcoins for creating value (items/services etc).
As a matter of fact, the Devcoin community recently started an initiative to relaunch this coin. If you are interested, you can visit the official Bitcointalk thread here.
I remember Devcoin from the old days. Good to see it's going through a revival - I was sure it had died! I'll check out that Bitcointalk thread, and if it looks promising, might have to invest a little. Who knows if it could be the next Steemit ;)
Nice one. I also believe PPC has a bright future :)
So do I. :)
Ah Peercoin, an old and reliable classic. I still have a few hundred that I don't plan to sell until PPC reaches the moon. The great thing about this coin is that you know it will still be around years from now. Wasn't it the first coin to do proof-of-stake? There's real, solid innovation here.
Yes it was. The github for Peercoin was forked like 200 or 300 times by every new coin stupid pump and dump altcoin that got created. The problem is, most of them didn't even know how proof of stake worked.
(Which is embarassing, but that is how many dumb coins exist)
Peercoin is the first, and the best at what it does... The rest of them are just "copycat coins, with poor execution"
Peercoin isn't just a proof-of-concept, it's a real coin that has stood the test of ages and is still functional to this day.
As Bitcoin scales poorly (and it does), Peercoin is ready to pick up some of that slack.
Buy and hold baby!
I bought around 500 peercoins in 2014 and kept them in a wallet on an old mining rig that I have since unplugged and stored away. I've been thinking about getting that up and running again but was not sure about whether to keep holding onto the peercoins or reinvest those funds into other cryptos. Thanks for the article, much appreciated.
You'd be really wise, in my opinion, to get your minting rewards and hold on to them and mint again right now the price looks like its doing well again and who knows where it is going next.
Make sure you upgrade to 0.5.4 of the wallet and resync. Your wallet might be too old if it has been that long. Export your private key and save it in a safe place.
Thanks, for the tip. I'll look into doing that!
Very good
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Great great post!!!
Nice article. I was about to post a similair thread. Buy and hold for the upcoming 2 to 5 years and the market will find it's way. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). Besides coinmarketcap.com there is: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. For example: https://www.coincheckup.com/coins/Peercoin#analysis For a complete Peercoin Investment and research analysis.