Vintage coins for the Modern Trader
In digital currency, Peercoin (PPC) ranks third after Bitcoin and Litecoin in the market capital. The value of each coin is around $6 and there are about 21 million such Peercoins that are in circulation in a total market cap of $126 million. When I started out with the Peercoins, I managed to get a hold on Peercoins thanks to my various experiments. I mean, everybody knew that Bitcoin uses the proof-of-work concept while Peercoin makes use of proof-of-work (POW) combined with proof-of-stake concept (POS), right? But not many know that POS is required for the maintenance of network security in the long POW is required by the Peercoin for its original minting. So in one word they proofed to be a vintage coins for the modern traders.
The best thing about Peercoins:
The chief advantage is that mining power does not relate to the integrity of this system. The attacker or the selfish miner would have to own 51% of the currency which is not an easy task. I mean, everything is really expensive in the real world. The Peercoin is also more economical as the total cost of mining is less as it does not include energy intensive network maintenance or hardware. The statistics that I saw recently were unbelievable, and by that I mean over-expensive.
Mining with Peercoins:
The Peercoin ranks just ahead of Bitcoin where mining profitability is concerned. In other words, both are not profitable for the miners as BTC cost $0.94 while PPC costs $0.92. There is a very meager difference between the two and this non profitability is also its drawback. Overall, mining costs us some bucks; it is preferable going for the cheaper mining. An almost exact copy of the Bitcoin template is used in the Peercoin mining. In terms of trading, PPC has gained a significantly higher trade in comparison with BTC. But recently it has climbed down from its recent high of 0.01 BTC to 0.0075 BTC i.e. from ($9.20) to ($6.90) from the beginning of this year 2014. The decline in the value of BTC was due to the 51% scare which has however not shaken the functioning of the PPC as indicated by its core design.
Using Peercoins or any other crypto currency for that matter is a lot like making a backward transition to the ‘coinage’, but just for the better. Peercoin is the perfect system where the Age of Information, Technology, meets with the Age of Hard work, Coinage.