With so many coins out there it's hard to put across reasoning as to why a particular coin is better than another. This is not the case with Peercoin. Peercoin is incredibly undervalued at the moment and heres why:
1. Peercoin was released in 2012 before the first big spike in Bitcoin at a time when crypto was not seen as a get rich quick scheme by many.
2. There was no premine.
3. You can 'mint' your coins offering up to a 1% yearly return.
4. Currently just over 24,000,000 coins are currently in existence.
5. The supply of coins decreases by 0.01 PPC per transaction.
6. The first proof of stake coin.
7. There is a big community behind the coin.
With the coin trading around $1.60 at the time of this post I believe this to be a good point to enter and will continue to buy more up to $3.
Of course having a pool of currencies is the way to go and the above is merely my opinion.
Can you explain how minting works?
Sounds like something interesting, thanks for posting!
Proof of stake minting works on how many coins you hold as opposed to your processing power and is therefore a lot more energy efficient.
I would say that the 0.01 works as a fee coming out of the coin supply.
Ahh, so there is minting and transaction voiding. So more transactions means less coins.
That's right. When people move Peercoin around, 0.01 gets burned and taken out of circulation. So yes, less coins the more you use it. Which brings the value of Peercoin up a little more as time goes on.. since the coins get more scarce. :)
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