So... did Cryptsy drop Devcoins?  I'm not finding them listed there.  I've never had an account there.  Is Vircurex really going to be the only place to buy/sell DVCs now?

That really STINKS!

EDIT:  Right now there are 11,092 accounts, which means that the number of users who are on the site to buy or sell Devcoins could be a significant percentage of that.  There probably is no better time to reach out to RS and tell him why you're there.  Even those who don't have an account can reach out.  If what Jag says is correct about mcxNOW being a significant reason for the recent increase in value in DVC, then that benefit has been felt by non account holders too.

I sent off a note to RS about this.  I've noticed people trashing Devcoins in the chat window but I guess I never saw anything that indicated they might actually take it off the platform.  And lately there's been a lot of movement in Devcoin, so I suspect they might already be rethinking this idea, if it ever was a serious one.  I don't see why they can't just add Namecoin without removing anything else anyway.  But it can definitely not hurt to write in and say that we love having Devcoins there

Thank you very much!

This is truly AWESOME news because I live in a state that is not supported by the Amazon affiliate program, as in I can't be an affiliate on my own.  I went ahead and submitted my user ID.

I have a question about it.  Amazon allows you to link to specific products or specific types of products.  So for example, if I was writing a book review on my blog, I could also include a link to that specific book in the post.  I would like to know if this could become possible in this system, where there is a way that I could submit an amazon page I want to promote and then have someone create a unique affiliate link to that page for me.  At this point it sounds like it would be a lot of work for someone, or it would require allowing all of us to log into the account, neither of which seems like a good idea.  But I wanted to bring this up anyway, because maybe someone will think of a way to make this feasible.

So you're saying it's even more of a scam than I gave it credit for.  I remember studying compound interest in high school math classes, but that was a while ago.  I really should brush up...

TradeFortress, since you're on this thread I am intrigued by something.  With CL, I know the basis is loans to people.  Who takes out loans at 22 percent interest or more, that CL can offer that back to people with accounts as fee rebates?  That's comparable to carrying a balance on a credit card, and I can see paying it when for whatever reason you don't pay off your balance, but who would take out a loan with that interest rate deliberately?  In other words, how are you able to offer your good return?

Hey, even I called that one--didn't even need to consult TF.  Do the math.  Six percent monthly return means 72% annual return.  And that's not counting all the extra bonuses from affiliate referrals.  Who pays out that kind of "interest" rate?  If they're seriously making that much money off of their "investing" then what do they need to pay us for?

I will say that I am making some money off them.  They're running a slick marketing campaign on BitVisitor and CoinAd and I'm more than happy to collect earnings from viewing their site.  But I'll invest those earnings somewhere else, thank you.

Be careful out there.  Watch out for scams!

I have a list too, but I am only creating new accounts for people who PM me.  So... if your username starts with G-O, then please message me and I will work my admin magic

Scam.  They all start looking the same after a while.  If you have not been burned yet, please learn from my mistake.  If you have been burned please learn from your own mistakes so it only happens once.

Yup, Mining United all over again.  Since you got burned once, why are you doing this again?

It's Mining United all over again!

Actually, round 28 doesn't close until block 109,300 so you have another week or so.  But, round 26 just finished paying out and now round 27 has begun paying out.  That transition took place at 108,000.  I know it's confusing, but it will make sense soon enough.  You do have another week or so to take a shot at getting paid out in round 28

It will happen.  Thanks everyone in advance for your patience as we work through this part.  So nice to have an update

I was using the price that Notabot said he paid for an ounce times the price of Devcoins which this morning was 40 sat, then multiplying that by the Mt. Gox price for Bitcoin (which I know is higher than it should be).  In my estimation, I still thought it was a good deal, even at $50, but if my math was wrong, then definitely set the record straight

You have my kudos for offering silver for Devcoins.  I hope you get lots and lots of business, and that this works out really well for you

Good luck

Fin, have you ever sold silver before?  If you deal in physical silver, there's no way around marking it up, because you have to consider your replacement cost, and some profit for you.  You're already dealing with a very volatile market (silver spot price can fluctuate wildly) which makes it risky to keep any inventory on hand.  When you add taking Devcoins for it, then you're adding another fluctuating market (which at this point trends downward) on top of that.  So unless you want to sell at a loss, you are going to have to either sell in bulk (thousands of ounces a day), or you have to mark up over spot price substantially.  And after all that you will run into customers who want to insist that you give it away for a buck or two over spot, and once you try to sell it, you learn very quickly why that is not reasonable unless that customer is willing to buy 1000 ounces at once, and even then, only if you have a supplier who is willing to sell to you at 75c over spot.


Until the circle closes, where everyone with Devcoins has a place to spend them, and probably for some time after that, there will be holes where people have to trade out Devcoins, and people have to hedge against their potential losses.  I think it works best in the long run if people buy things based on wanting what's for sale rather than out of altruism, although I might bend that with the silver--it's really not that much of a markup when you consider all the things that go into selling silver--and as one who has sold silver and who isn't prepared to offer it for Devcoins at this point (too much risk and I'm too small), I appreciate that this dealer offering it for Devcoins is taking a big risk, and I do think in this case it's worth paying a bit more for my silver to help make it pay off for him.  I'd very much like to see him offering silver for Devcoins next month too.  He said October was a trial period.

You have to start somewhere.  Of course he's going to trade out his Devcoins... until someone else opens up a shop with a product or service he would want to spend them on.  Why don't you call him up and ask him what he would like to buy with his Devcoins?

That works out to $50 an ounce going by mcxNOW last price of 40 sat/DVC and Mt. Gox's price of $145/BTC.  That is a little high, but actually well within the range of what I'd call acceptable.  If I were writing in exchange for silver I would be happy to take it at a rate of $50 per ounce (you always mark it up for bartering purposes), and if you're writing for Devtome, that's essentially what you'd be doing if you then spent your DVC on this silver.

Also consider that Mt. Gox prices are inflated so in reality it's probably less than $50/ounce.  I deliberately used Mt. Gox in the calculation so I'd get a sense of "worst case scenario."

The price includes shipping, which means that in all likelihood if you bought 2 or more ounces, shipping wouldn't change much so you'd come out even further ahead if you bought up to 10 or more ounces.

Sounds like a great deal

Welcome!  There are lots of ways to get into Bitcoin, and it's fun experimenting.

Welcome!  Glad you are joining the conversation