Time to BUY DEVCOINS (1 penny each or less)

[achillez]

Devcoins rock!

[1715667176]

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[1715667176]

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[FinShaggy]

Devcoins rock!

True Shit

[jaywaka2713]

I've got me a nice ~140k DVC locked away in TrueCrypt. Set a random password that I don't know and have the computer cracking it. It's 8 characters with any symbol, letter, or number on the keyboard. Good way to force yourself to go long. When it's opened ill see where Devcoin is at

[FinShaggy]

Picked up a few myself.

Nice

[alyssa85]

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.

I am a dev, and of course I'd love to receive 90% of the profits the miners do. I'm just having a hard time trying to picture a miner saying "Oh, hey, let's mine this coin which is 90% less profitable than any other cryptocoin that I could mine with this hardware, just for the heck of supporting developers, art and culture".

The idea in itself is not bad; I'm not against supporting creators. The problem I see is that it can't hardly grow if people are greedy, which they are.

You’re correct, people are greedy. But at some point a whole load of people are going to wake up to the fact that bitcoin et al are like a game of pass the parcel, except in this replicable deflationary game of increasing real interest rates in trade the person holding at the end loses. Like you I’m playing that game, and I think it's a fantastic revolutionary stepping stone. But as I don’t know when it ends and because I don’t have the time, inclination or capital to risk all I prefer to mostly stick with the admittedly slower but sustainable greed that comes from getting paid for doing something or receiving something wanted. I think others will come to realise this over time. Time will tell.

+1

Miners are essentially accountants - their job is really to keep the ledger, and they get coins each block as a reward. If we called them "accountants" rather than "miners" would they seem as glamorous?

Also - imagine an economy where the people who actually do stuff - create art, books, software, hardware, tools, grow food, build houses, make furniture etc - are paid nothing and only the accountants got the lions share. That sort of society would collapse - unless the model was restricted to a very narrow one where there were just two players - the speculators and the accountants...

[weisoq]

I open everyone to have a discussion regarding this without any rhetoric. Just the principles of economics.
...
Regardless of whether you have been paid or not, you will eventually get that 20 million coins, so my point isn't moot.

I'm interested in having a discussion on economic principles, so I will try to answer your point with a question:

How can long-term value as a currency (not a commodity, store of value, but a currency) be assigned to a replicable deflationary asset such as btc?

[weisoq]

...
What are your thoughts on the hyperinflationary currency of Zimbabwe?

http://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

Is this directed at me, if so I'm not sure what you're asking?

[weisoq]

On your points about supply and demand, I think we’re talking at cross purposes. You’re referring to price I’m referring to value. Value as a currency. I’ve yet to read any explanation of why, in an environment when the price of btc rose above x (where x is a level regarded as prohibitively expensive to transact in) any particular trading group interested in btc’s benefits wouldn’t simply replicate the blockchain for their own purposes of trade. Or perhaps the abundance of recent altcoins is testament to this growing reality?

On what I think is your inference about Devcoin, it’s mostly arbitrary. The price of dvc was initiated with more decimals to facilitate whole numbers (ie btc/1000) in simple terms, and so the matter of quantity has to be referred to in terms of market capitalisation in reference to something, say btc, or usd.

That the supply of dvc is not limited is, in my opinion, its strength not weakness. Devcoin is purposefully a token currency. Token as in notes or coins. In order to maintain a currency, a medium of exchange, there must be facility to lend and borrow, short and long-term. Devcoin achieves this without reference to banks and debt money. But this aspect is ruinous for adoption of btc and deflationary cryptos beyond hoarding and perhaps facilitating the transfer of other currencies. I don’t think most people appreciate this yet, or perhaps they do and it really is pass the grenade? What is the natural equilibrium price of a replicable deflationary asset? What is the natural equilibirum price of a devcoin? I don't know. Devcoin initiates payment/reward and creates skin in the game beyond the prayer of first mover advantage, which is why I'm interested in it longer term.

[FinShaggy]

I have no secret stash of Devcoin, anyone can become JUST as invested in Devcoin as me, FOR FREE, by joining http://Devtome.com

http://devtome.com/doku.php?id=devcoin_advertising_campaign

 Devcoin was created by developers, and supports independent developers and artists. Meaning, this coin supports the creation of FREE TO USE: Games, Music, Videos, Stories, Graphics and more.

 Most coins when mined, all go to the miner. When Devcoin is mined, 90% of the coins generated go straight to Devtome which is a project that helps developers and artists earn Devcoin.
 
I write on Devtome, and I am earning 20,000,000 Devcoin for writing 64,000 words this month.

 20,000,000 DVC trades for 40 Bitcoin
 40 BTC trades for over $4,000... for 64,000 words
 Which makes every 1,000 words worth over $50. Who can afford NOT to do this, lol.

 The eventual goal of Devcoin and Devtome can be found by looking at the Devcoin bounties. There are tons of projects listed, including: Creating a village, creating vehicles and creating a 1 seat rocket that can enter and exit space multiple times.

 These projects will help not only Devcoin, but Bitcoin come to the light as a charitable and progressive cause.

Right now there is a word limit of 80,000 words per person, per round right now To make sure shares don't get too small

http://devtome.com/doku.php?id=devcoin_advertising_campaign

It seems like it's an infinite supply of the coin, which makes it very hard to acquire value. Shaggy, please state our conflict of interests. Obviously you have millions of coins and want it to acquire in value so you try to pump up the hype for this coin so we will all by. But the fundamentals behind the unlimited nature of this coin really make it difficult to make it achieve anything significant. I open everyone to have a discussion regarding this without any rhetoric. Just the principles of economics.

Wrong, I don't have millions of coins. I JUST learned about Devcoin last month, and I still haven't been paid by Devtome. I am simply trying to help people.

And it is not hard for the coins to acquire value. It would if they were just random coins like Bitcoin, but Devcoin is supported by Devtome and the Boutnies. The more popular devtome is, and the more bounties get done, the more the coins are worth.

Regardless of whether you have been paid or not, you will eventually get that 20 million coins, so my point isn't moot.

Your point IS moot, because I already explained that ANYONE can become just as invested as me by writing on Devtome this month.

I am not "pumping and dumping" which was your point, and it is moot because this thread is NOTHING but sharing information to get people on my level. Not so that I can be above anyone.

[jaywaka2713]

Devcoin's payment route realistically is much better than bitcoin. Look at the bigger picture. With bitcoin, mining is currently the ONLY way to earn bitcoin. With Devcoin, you are paid for your work, and miners get money as well. If it can be adopted to all forms of work with a fair system of payment, it would be more ideal than bitcoin

[achillez]

Personally I like devcoin - think it's a great concept

[Praxis]

Those of you who write on Devtome - how much do you earn per word, how often do you get paid?

[FinShaggy]

Devcoin's payment route realistically is much better than bitcoin. Look at the bigger picture. With bitcoin, mining is currently the ONLY way to earn bitcoin. With Devcoin, you are paid for your work, and miners get money as well. If it can be adopted to all forms of work with a fair system of payment, it would be more ideal than bitcoin

They are working on letting video makers get paid, and the bounties offer a lot of variations of things to do for payment.

You can get paid for posting pictures right now as well.

[FinShaggy]

Those of you who write on Devtome - how much do you earn per word, how often do you get paid?

1,000 words is 1 share. There are 180,000,000 coins per round, evenly divided into the shares.

[Luckybit]

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.

I am a dev, and of course I'd love to receive 90% of the profits the miners do. I'm just having a hard time trying to picture a miner saying "Oh, hey, let's mine this coin which is 90% less profitable than any other cryptocoin that I could mine with this hardware, just for the heck of supporting developers, art and culture".

The idea in itself is not bad; I'm not against supporting creators. The problem I see is that it can't hardly grow if people are greedy, which they are.

You’re correct, people are greedy. But at some point a whole load of people are going to wake up to the fact that bitcoin et al are like a game of pass the parcel, except in this replicable deflationary game of increasing real interest rates in trade the person holding at the end loses. Like you I’m playing that game, and I think it's a fantastic revolutionary stepping stone. But as I don’t know when it ends and because I don’t have the time, inclination or capital to risk all I prefer to mostly stick with the admittedly slower but sustainable greed that comes from getting paid for doing something or receiving something wanted. I think others will come to realise this over time. Time will tell.

+1

Miners are essentially accountants - their job is really to keep the ledger, and they get coins each block as a reward. If we called them "accountants" rather than "miners" would they seem as glamorous?

Also - imagine an economy where the people who actually do stuff - create art, books, software, hardware, tools, grow food, build houses, make furniture etc - are paid nothing and only the accountants got the lions share. That sort of society would collapse - unless the model was restricted to a very narrow one where there were just two players - the speculators and the accountants...

Of course you are correct but is Devcoin the answer?  Many people have mentioned that there are infinitely many Devcoins and that is the main problem with the idea. Perhaps a fork should be made and it should be renamed Workercoin instead because Devcoin sounds too nerdy. At the end of the day we all need a way to earn coins and Bitcoins don't seem to provide many avenues to work for coins just yet which is part of the problem with Bitcoins. If more people could actually work for them more people would use them and it wouldn't be so easy to manipulate the price.

Devcoin does not seem to be the answer though. While you may need billions of coins if its merge mined with Bitcoin, to have an infinite amount of coins seems unnecessary. One thing should be clear, Devcoins are not a traditional currency they are a token currency. You can create infinite tokens, tokens are only used to determine who did what work so if it's 1 token per share or a trillion tokens per share it does not really make any difference. For the barter exchange of time for labor any token will work. Devcoin just in particular isn't working because we aren't all writers and programmers so how do musicians, artists, mathematicians, and those who offer products and services get paid?

When the market is expanded so more than just writers and programmers can get paid, but podcasters, models, and anyone who offers any digital content can get paid, that is when Devcoin will work. Devtome isn't really a good enough site either, there has to be many sites like Devtome for it to work and different sites have to fill different niches.

[Luckybit]

Those of you who write on Devtome - how much do you earn per word, how often do you get paid?

1,000 words is 1 share. There are 180,000,000 coins per round, evenly divided into the shares.

How much is this in USD per share? How much is 1000 words worth in Devcoin economics today and into the future?

[Luckybit]

Devcoin's payment route realistically is much better than bitcoin. Look at the bigger picture. With bitcoin, mining is currently the ONLY way to earn bitcoin. With Devcoin, you are paid for your work, and miners get money as well. If it can be adopted to all forms of work with a fair system of payment, it would be more ideal than bitcoin

They are working on letting video makers get paid, and the bounties offer a lot of variations of things to do for payment.

You can get paid for posting pictures right now as well.

The payment route has to be much more streamlined. Maybe some developers can work on streamlining it into a sophisticated E-lance site where individuals can work under a pseudonym but at the same time have all the accounting and tax stuff handled in the background, also of course escrow and the ability to use digital signatures so a person can verify they produced whatever work they produced, perhaps the ability to do independent contracting paid in Devcoins and eventually salaries and not just bounties. Bounties can only take you so far, people will want smart contracts and a sense of stability.


The only problem with Devcoin is it's difficult to determine exactly how the market determines how much a job is worth. How much is 1000 words supposed to be worth? How exactly do we control how much anything is worth when there are infinite amounts of Devcoins? We all know every word is worth something but how much seems to be difficult to determine and Devcoin hasn't solved it. $70-500 is a very large range, so perhaps a rating system can be built in at some point so that really talented writers can get bonus shares in proportion to their rating. This rating system would have to rely on digital signatures and could not be done anonymously though so it would have to be traced to real people and that is hard.

[weisoq]

Luckybit - I don't have all the answers, but it's not just for developers and writers. The ethos is just one of open-source content. Music, art other ideas included, although admittedly that gets more complicated re. real open-source.

The portals are under constant development as far as I know, including a newer main site. There are also plans to introduce a rating and pageview/advertising element to differentiate between articles for example.

The currency and generation issue - can only speak for myself here but I have quite a different view on cryptos generally than most it seems. I don't think btc/ltc etc are currencies at all, they're commodities in terms of means and ease of particular transaction facilitations. This is in large part because they're finite and replicable. Devcoin avoids these problems, although not saying anthing's perfect. There didn't have to be billions of dvc, as far as I'm aware it was a conscious decsion to eliminate the decimals issue. I think it's completely arbitrary.

A share is a function of how many people wite and how much, how many people develop and how much etc. In the latest round for example it worked out to about 360k when factoring all and seems to falling each round as interest grows.

Gauging worth - determing npv requires an account of future cash flows. Whether generation is limited or not isn't the issue as long as it's forecastable and therefore able to built into decisions and transactions. The word issue for example - if the earnings fall to a level where it's not considered worth contributing, nobody will, so there'll be fewer articles of fewer words and the share will rise. etc

Anyhow I'm not a spokesperson for devcoin, but I do find it worth some of my time. If you have ideas/suggestions/questions, including on payment route, to contribute post them on the main devcoin thread. The more people are involved, the more decentralised, the better: https://bitcointalk.org/index.php?topic=34586

[acs26]

I recommend mining YacCoins, and then turning those into TerraCoins. In TerraCoins they cost about .001-.01 each. I bought several thousands of them using this method.

[FinShaggy]

Holy shit, I just looked at Devcoins and you can get SOOO many for 1 Bitcoin right now. Over 800,000