Best Way to get Tons of FREE coins :)

[kevindeangelis]

I recently created a little site to help show conversions and earning info for each type of coin.  The site is at http://www.WhereToMine.com  I'm open to any comments/suggestions for it - seeing that I just launched it the other day.

[FireBlazzer]

hmmmmm..... interesting

[wiser]

The way it works is this:

Each round there are 180,000,000 coins for writers
Each 1,000 words you write gets you 1 share
If only 1 person writes something, they get the whole 180,000,000
If 2 people each write 1,000 words, they each get 90,000,000

Right now there are 25-ish publishers
There were 550,000-ish words written.
So each share was over 300,000 DVC this round

So I went ahead and joined and started contributing content to the Devtome.  UnthinkingBit sent me a spreadsheet which shows unofficial word counts to date, and I estimated earnings based on the above formula.

My concern at the moment is that the value of Devcoins relative to the dollar is falling rather rapidly--it now takes almost a million devcoins to buy one bitcoin (up from 500,000 when I first started following the exchange rate a week or two ago), and at this point Bitcoins are fairly stable in value at right around $128 to one bitcoin.  So regardless of how you look at it, the value of Devcoins seems to be dropping.  I'm thinking that situation is made worse by the fact that each round an additional 180 million of them get put into circulation just from Devtome.  That seems like an awful lot of units to place into circulation and I would expect the value to go down with each new round unless there is a corresponding rise in demand for Devcoins.

With this in mind, what is being done at this point to help increase the value of Devcoins relative to Bitcoins (and dollars)?  How is the currency being promoted so more people get interested?

Right now, if there were a payout following the last estimate of word count, it would still be good money, especially for writing Internet content.  I just wonder how long that's going to last.

Any thoughts?

[FinShaggy]

The way it works is this:

Each round there are 180,000,000 coins for writers
Each 1,000 words you write gets you 1 share
If only 1 person writes something, they get the whole 180,000,000
If 2 people each write 1,000 words, they each get 90,000,000

Right now there are 25-ish publishers
There were 550,000-ish words written.
So each share was over 300,000 DVC this round

So I went ahead and joined and started contributing content to the Devtome.  UnthinkingBit sent me a spreadsheet which shows unofficial word counts to date, and I estimated earnings based on the above formula.

My concern at the moment is that the value of Devcoins relative to the dollar is falling rather rapidly--it now takes almost a million devcoins to buy one bitcoin (up from 500,000 when I first started following the exchange rate a week or two ago), and at this point Bitcoins are fairly stable in value at right around $128 to one bitcoin.

Bitcoin is not stable. It was just $115-120 last week, that is why there is a difference. And someone dumped 7 million Devcoin, but about 6 million of that has already been bought.

It will stabilize soon

Now is the perfect time to buy devcoins though. They are cheap, and buying the ones that are posted for sale helps the market.

[wiser]

So who dumped 7 million Devcoin?  Was it one of the Devtome writers?  What did he/she trade it for?  That's likely to happen as long as Devcoin (provided one has enough!) can directly or indirectly be traded for USD and used to pay bills.  But even so, that seems like a drop in the bucket compared to 180 million being generated for Devtome writers each round.

Sure, BTC is not exactly stable as it does fluctuate, but lately it's been holding a value of between 120 and 130 USD and not really changing much.  It's certainly more stable now than it was back in March!

I hope you're right, that Devcoin will stabilize and gain traction as a currency.  Is there a Devcoin equivalent to the Bitcoin card?

[FinShaggy]

So who dumped 7 million Devcoin?  Was it one of the Devtome writers?  What did he/she trade it for?  That's likely to happen as long as Devcoin (provided one has enough!) can directly or indirectly be traded for USD and used to pay bills.  But even so, that seems like a drop in the bucket compared to 180 million being generated for Devtome writers each round.

Sure, BTC is not exactly stable as it does fluctuate, but lately it's been holding a value of between 120 and 130 USD and not really changing much.  It's certainly more stable now than it was back in March!

I hope you're right, that Devcoin will stabilize and gain traction as a currency.  Is there a Devcoin equivalent to the Bitcoin card?

Dude, Bitcoin has not been stable at 120-130, maybe in the past 2 weeks. But it was 90-110 like ONE month ago.

[wiser]

OK, I won't argue with you about the relative stability (or lack thereof) of Bitcoin.  But what about the other questions I brought up in my last message?  :-)

[FinShaggy]

OK, I won't argue with you about the relative stability (or lack thereof) of Bitcoin.  But what about the other questions I brought up in my last message?  :-)

I don't know who dumped the coins. I haven't got paid yet, and no one I invited could have either.

[nmersulypnem]

great

[wiser]

OK, I won't argue with you about the relative stability (or lack thereof) of Bitcoin.  But what about the other questions I brought up in my last message?  :-)

I don't know who dumped the coins. I haven't got paid yet, and no one I invited could have either.

When do you expect to get paid?

[slackers]

this dont look real

[wiser]

this dont look real

LOL!  The Devtome is being managed by some highly respected members of this forum, so... while that's certainly no guarantee, these members would stand to lose a lot of reputation capital if it turned out they were running a scam operation.

But even if they were, all any of the writers have contributed has been content, which is very easy to remove and repurpose elsewhere if the other end of the deal wasn't held up.

You can publish any content you want on Devtome, so my advice to anyone on the fence... go ahead and sign up (it's free), go through the steps you need to get a Devcoin wallet and all that (BTW, it has to be a wallet that sits on your hard drive, can't be web based), and then submit some content that you were going to write anyway (or have already written).  And then see how it pans out.  If it doesn't turn out the way you wanted it to, or it's not for you, then you aren't on a contract or anything and don't have to contribute any more content.

I have concerns about whether Devtome (or even Devcoin for that matter) is sustainable, but I'm reasonably confident that the people who run it are running an honest operation.  It might ultimately fail, but it's not a scam in my opinion.

[FinShaggy]

OK, I won't argue with you about the relative stability (or lack thereof) of Bitcoin.  But what about the other questions I brought up in my last message?  :-)

I don't know who dumped the coins. I haven't got paid yet, and no one I invited could have either.

When do you expect to get paid?

Mid June. This coming payment round.

[wiser]

When did you start writing for Devtome?

[laikig]

Nice! Will read more

[FinShaggy]

When did you start writing for Devtome?

About 2 months ago, maybe 1 and a half. Around 4/20 I think.

[cmandeiro]

I'm skeptical about that ....

[FinShaggy]

I'm skeptical about that ....

About what?

[FinShaggy]

https://bitcointalk.org/index.php?topic=234437.0