Still wondering how to get out your newbie status? Take a look at Devcoin (DVC)

[Leojane]

Hello guys.

Still wondering how to get out of your newbie status? I'd like to recommend some threads for you to pass your 4 hours.They're all about Devcoin(dvc).
(Also,you can reply this thread to get your 5 posts. Post your questions about dvc here, I'll try to answer, or you can simply 'bump' this thread )

First, a brief introduction. Devcoin (abbreviated as DVC) is an alternate cryptocurrency, based on SHA256(the same algorithm used by BTC). As BTC comes to the sights of common people, alternate cryptocurrencies are becoming popular, too. More and more new alternate cyptocurrencies are blooming. I am personally (by saying 'personally', I mean this is only my opinion, you can agree or disagree with me, or ignore me, it's all your choice. ) optimistic about DVC, because:
1) DVC is one of the earliest alternate cypotocurrencies (since July, 2011)
2) There's a good community of DVC, http://www.devtome.com/doku.php?id=devcoin
3) Exchange site like vircurex supports it.

Here are some threads for you to get started:
Main dvc thread
List of all cryptocoins
DVC faucet

Also,
you can start to earn DVC by writing, check more info here:
http://www.devtome.com/doku.php

I hope you'll enjoy this thread, thanks.  

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[BelMarduk]

bump

[Twisted6]

what is the maximum coins for DVC?  ie. bitcoin max out at 21M. 
This is the first time hearing about it.  Sorry if i'm such a noob. 

[spectre]

Are devcoins mined similar to BTC?

[mat5x]

honestly, the donation amount is quite huge. if it doesnt pay for my power use why would i mine it?

also vicurex  once took 18 hrs to credit my account after sending TRC's in, and i missed an opportunity. i asked them and support never replied, and no response on the forums. so I wouldnt use them. btc-e unfortunately, the masteraltxchg.

[kittycatman]

why is it worth my time? whats your elevator pitch

[Leojane]

what is the maximum coins for DVC?  ie. bitcoin max out at 21M. 
This is the first time hearing about it.  Sorry if i'm such a noob. 

Well, the max of DVC is rather huge, it's 21B if I remembered right.

Are devcoins mined similar to BTC?

honestly, the donation amount is quite huge. if it doesnt pay for my power use why would i mine it?

also vicurex  once took 18 hrs to credit my account after sending TRC's in, and i missed an opportunity. i asked them and support never replied, and no response on the forums. so I wouldnt use them. btc-e unfortunately, the masteraltxchg.

DVC can be merged mined with BTC, which means that you can mine dvc while you're mining BTC, because they're using the same algorithm.

why is it worth my time? whats your elevator pitch

You're free to choose your own choice.

[tpenepete]

cool story 

[weisoq]

why is it worth my time? whats your elevator pitch

It's worth your time because it pays to get involved. Devcoin aims to help fund open source projects - software, hardware, writing, art, music, film, marketing and other ideas you may have - and all not necessarily related only to devcoin.

By incentivising and rewarding time and effort spent working it also supports real development and action today, rather than just the hope of an early mover payback tomorrow, so it's sustainable. It’s merge-mined with bitcoin, so getting involved is optimising for maximum earnings.

There’s a growing community of people already regularly contributing to the growth and economy, people using devcoins for payment and receipt, projects backed by existing devcoin loans across the development and gaming community, and so it’s not going away.

I think it's a great concept with legs. Take a look: Background on Devcoin

[thebitboy]

why do we want to have an alternate coin to BTC?

[weisoq]

It's not so much an alternative to as an addition to bitcoin. When you buy devcoins you're contributing to developments including those for bitcoin as it goes. The way I look at it is as a more direct investment in projects and in myself if I'm being paid for work, while also expecting the value to grow longer term as take up increases. If I need the money I can always sell them, otherwise I retain the devcoins, give a bit back and watch things grow. There's no reason why devcoin or bitcoin need to undermine each other.

[BitshireHashaway]

I'm already out of my newbie status, however I am still interested in checking out Devcoin they are a very interesting currency. The thing I'm interested in is if you can put all your hashing power to Devcoins or to Bitcoins how does the profitability of Devcoins compare to Bitcoins. I'm thinking they'll be a better deal once the hashing power of BTC goes way up from Asics.

[weisoq]

I'm already out of my newbie status, however I am still interested in checking out Devcoin they are a very interesting currency. The thing I'm interested in is if you can put all your hashing power to Devcoins or to Bitcoins how does the profitability of Devcoins compare to Bitcoins. I'm thinking they'll be a better deal once the hashing power of BTC goes way up from Asics.

I don't really know much about mining specifics. I'm stuck with nvidia for now so don't. From what I understand there's no loss of hashing power by mergemining devcoin, although I'm not sure about relative profitability. Devcoin works by rewarding development over mining, which is why the mergemining approach seems a win-win. Perhaps you could look at any devcoin return as a modest income stream to cover some expenses, but the brains in the main devcoin thread will be able to answer specific questions if you're interested https://bitcointalk.org/index.php?topic=34586.0

[Twisted6]

what is the maximum coins for DVC?  ie. bitcoin max out at 21M. 
This is the first time hearing about it.  Sorry if i'm such a noob. 

Well, the max of DVC is rather huge, it's 21B if I remembered right.

  21B? thats a crap load of coins! are you sure? or is it 21 million? 

[rubixskewed]

Is this suppose to be an alternative for BTC or working in conjunction with BTC

[weisoq]

Is this suppose to be an alternative for BTC or working in conjunction with BTC

I'm not sure there is a 'supposed to be'. In my opinion both could exist without the other but both also add value to the other, a strength of devcoin over some other currencies (I'm not making any general point there about other alts, I know very little about them all).

[Leojane]

Thanks for the wonderful explanations, weisoq 

[Leojane]

21B? thats a crap load of coins! are you sure? or is it 21 million? 

You can sent Unthinkingbit(the author of DVC) a message for a confirmation. In my memory, the amount of DVC is much more than BTC.
But it doesn't matter too much I think.

[anyroll]

DVC is another alt currency that will fall into oblivion!

[Leojane]

DVC is another alt currency that will fall into oblivion!

I don't think so.
DVC is nearly 2 years old, and more and more people are getting to know it.
Merged mining is one of its advantage. Why not get some extra coins while mining BTC? I think people would love to use merged mining as long as they know about it.
And besides the purpose of helping open source community is really charming.