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Author Topic: [DVC]DevCoin - Official Thread - Moderated  (Read 848798 times)
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ranlo
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December 15, 2015, 06:38:55 AM
 #6441

Any updates on the Devtome issue that was brought up here several weeks ago?

Now as far as I'm aware. I feel like DVC is in a black hole right now, and TBH, I'm not even sure how to (technically-wise) pull out of it anymore. There have been great ideas tossed around over the past many months, but nothing has been put into action due to inability to or other things. I feel like it may be worth setting up a sort of "round table" of sorts, with a new domain/setup/etc. to start anew (not the coin, but things like the forums and Devtome), to push forward the ideas people have had for resurrecting it.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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December 15, 2015, 03:04:17 PM
 #6442

Any updates on the Devtome issue that was brought up here several weeks ago?

Now as far as I'm aware. I feel like DVC is in a black hole right now, and TBH, I'm not even sure how to (technically-wise) pull out of it anymore. There have been great ideas tossed around over the past many months, but nothing has been put into action due to inability to or other things. I feel like it may be worth setting up a sort of "round table" of sorts, with a new domain/setup/etc. to start anew (not the coin, but things like the forums and Devtome), to push forward the ideas people have had for resurrecting it.

I'd be up for that. In the mean time, I am still getting some DVC because I do a few little things admin-wise. I was hoping to write some more, but last I checked I can't update my invoice page or some of my previously published pages.
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December 15, 2015, 10:33:56 PM
 #6443

Any updates on the Devtome issue that was brought up here several weeks ago?

Now as far as I'm aware. I feel like DVC is in a black hole right now, and TBH, I'm not even sure how to (technically-wise) pull out of it anymore. There have been great ideas tossed around over the past many months, but nothing has been put into action due to inability to or other things. I feel like it may be worth setting up a sort of "round table" of sorts, with a new domain/setup/etc. to start anew (not the coin, but things like the forums and Devtome), to push forward the ideas people have had for resurrecting it.

I agree on start anew, since the community built on Devtome deserves to continue growing and flourishing.

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December 17, 2015, 07:15:20 AM
 #6444

Devcoin is not functional now and hasn't been for awhile. Apart from the technical issues surrounding devtome, the inability to add new recipients to the receiver files has made devcoin dysfunctional. How can new bounties ever be paid out if a person can't be added to the receiver files? Not only is devcoin unable to get anyone to do any bounty work because of this, but devtome suffers the same fate, not being able to attract new writers. Additionally devtome has become a secondary failure due to technical faults blocking many (of the few) writers from earning any coin. At this point there might be 1 or 2 writers still going forwards and earning all 180,000,000 devcoins per month.

Come on guys, this is not a functioning ecosystem. It is a closed ecosystem with only a few earning coins, either for non existent admin duties with maybe 1 or 2 earning the majority of coins each round. The concept of devcoin, a currency that anyone can earn, anywhere in the world, has failed. How do you reform a system where no new recipients can be added? Can't do it.

The last paragraph at http://www.devtome.com/doku.php?id=devcoin reads;
Quote
"The primary concern is that in the long term, most organizations become corrupt, regardless of the intentions of the founders. The single best defense against the corruption of an organization is competition. Devcoin would be the first currency to give part of its generation to developers. However, developers are welcome to fork it in turn, and create say a reformcoin, that also gives generation to developers, but starts with another set of founders. If the reformcoin is less corrupt than devcoin, people will sell the devcoin and buy reformcoins. Even if most people remain with devcoin, just the possibility that people could move to reformcoin would tend to rein in the corruption of the devcoin...."

Unthinkingbit considered that forking may be necessary, and to continue with his vision, which is why we all are here, this option should be considered. I don't like to be proposing this but I dislike how the system has broken down more.

The potential for a currency that anyone can earn is still extremely good. A few ideas would be to have a better platform (wordpress or similar) that writers use. And why not make it so that readers get paid a small amount to vote for their fave writers, and the top voted ones would receive more pay, and ones down the rank get considerably lower pay. This would bring in traffic and bring the cream to the top.

Please consider the forking, as continuing down this path is not working ATM. 





 

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December 17, 2015, 07:21:04 AM
 #6445

Devcoin is not functional now and hasn't been for awhile. Apart from the technical issues surrounding devtome, the inability to add new recipients to the receiver files has made devcoin dysfunctional. How can new bounties ever be paid out if a person can't be added to the receiver files? Not only is devcoin unable to get anyone to do any bounty work because of this, but devtome suffers the same fate, not being able to attract new writers. Additionally devtome has become a secondary failure due to technical faults blocking many (of the few) writers from earning any coin. At this point there might be 1 or 2 writers still going forwards and earning all 180,000,000 devcoins per month.

Come on guys, this is not a functioning ecosystem. It is a closed ecosystem with only a few earning coins, either for non existent admin duties with maybe 1 or 2 earning the majority of coins each round. The concept of devcoin, a currency that anyone can earn, anywhere in the world, has failed. How do you reform a system where no new recipients can be added? Can't do it.

The last paragraph at http://www.devtome.com/doku.php?id=devcoin reads;
Quote
"The primary concern is that in the long term, most organizations become corrupt, regardless of the intentions of the founders. The single best defense against the corruption of an organization is competition. Devcoin would be the first currency to give part of its generation to developers. However, developers are welcome to fork it in turn, and create say a reformcoin, that also gives generation to developers, but starts with another set of founders. If the reformcoin is less corrupt than devcoin, people will sell the devcoin and buy reformcoins. Even if most people remain with devcoin, just the possibility that people could move to reformcoin would tend to rein in the corruption of the devcoin...."

Unthinkingbit considered that forking may be necessary, and to continue with his vision, which is why we all are here, this option should be considered. I don't like to be proposing this but I dislike how the system has broken down more.

The potential for a currency that anyone can earn is still extremely good. A few ideas would be to have a better platform (wordpress or similar) that writers use. And why not make it so that readers get paid a small amount to vote for their fave writers, and the top voted ones would receive more pay, and ones down the rank get considerably lower pay. This would bring in traffic and bring the cream to the top.

Please consider the forking, as continuing down this path is not working ATM. 





 


+1 to the fork. I haven't done much in months because it's so broken. Forking has a negative stigma but at this point it's not an option. Do what needs to be done.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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December 17, 2015, 09:00:29 AM
 #6446

Why can't new recipients be added to receiver files?
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December 17, 2015, 01:25:51 PM
 #6447

Pardon my technical ignorance, but why would Devcoin need to be forked just to have it working the way it used to work? I mean, at one time (and for a long time) it was working just fine from the technical perspective. What changed and why has it been nonfunctional for so long?
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December 17, 2015, 03:44:11 PM
 #6448

Pardon my technical ignorance, but why would Devcoin need to be forked just to have it working the way it used to work? I mean, at one time (and for a long time) it was working just fine from the technical perspective. What changed and why has it been nonfunctional for so long?

Hey Wiser, the big problem we have is that essential services are being run by people who just have no interest in keeping them ticking, and don't respond when you try to get them to do their job.

I suspect a falling price has a lot to do with that, along with lackluster leadership. I take responsibility for my part, but there's nothing I can do about the price. Devtome was great, but it was a black hole. It never even close to paid for itself, and the price whittled away, making it even harder to get people to make an effort. Even moving the site into other's hands has proven futile, and now it's in no mans land. I'm still trying to get this working again, and the last communication I received was that there was progress. My share proposal was too little too late, as the damage to the coin was already done. The unlimited shares devtome could earn meant developers ran for the hills.

To add to that, both of the only exchanges that deal with dvc have both recently stopped working. Cryptsy hasn't sent out btc for a month according to the forums, and Vircurex hasn't been processing deposits for a while apparently.

I'm more than happy to step aside and let someone else take charge if they believe they can turn this ship around. The only reason I could think of to fork devcoins would be to decentralize everything. Absolutely nothing that relies on one person alone to do their job.

I believe the key to that problem lies in DACs - Distributed Autonomous Corporations, and the only thing holding that back, as far as I can see, are that domain registrars don't allow domain purchases via API *and* bitcoins yet.

HB

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December 17, 2015, 04:35:18 PM
 #6449

You may want to fork bitshares amd have earners run delegates as workers... Its a bit more decentralized through voting.

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
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December 17, 2015, 04:44:34 PM
 #6450

Pardon my technical ignorance, but why would Devcoin need to be forked just to have it working the way it used to work? I mean, at one time (and for a long time) it was working just fine from the technical perspective. What changed and why has it been nonfunctional for so long?

Hey Wiser, the big problem we have is that essential services are being run by people who just have no interest in keeping them ticking, and don't respond when you try to get them to do their job.

I suspect a falling price has a lot to do with that, along with lackluster leadership. I take responsibility for my part, but there's nothing I can do about the price. Devtome was great, but it was a black hole. It never even close to paid for itself, and the price whittled away, making it even harder to get people to make an effort. Even moving the site into other's hands has proven futile, and now it's in no mans land. I'm still trying to get this working again, and the last communication I received was that there was progress. My share proposal was too little too late, as the damage to the coin was already done. The unlimited shares devtome could earn meant developers ran for the hills.

To add to that, both of the only exchanges that deal with dvc have both recently stopped working. Cryptsy hasn't sent out btc for a month according to the forums, and Vircurex hasn't been processing deposits for a while apparently.

I'm more than happy to step aside and let someone else take charge if they believe they can turn this ship around. The only reason I could think of to fork devcoins would be to decentralize everything. Absolutely nothing that relies on one person alone to do their job.

I believe the key to that problem lies in DACs - Distributed Autonomous Corporations, and the only thing holding that back, as far as I can see, are that domain registrars don't allow domain purchases via API *and* bitcoins yet.

HB

Thanks for the explanation, HB. I wasn't particularly asking about the price--I realize that is largely out of our control, though I can see it having an effect on the motivation of admins.

A fork that would decentralize things more sounds like a good idea. It seems human beings are the weak link in a crypto system. Let me know if there is anything I can do to help. PM me and I can give you my email address. Otherwise, please keep posting updates here. This thread seems to work the best for that purpose.

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.
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December 17, 2015, 05:15:29 PM
 #6451

Pardon my technical ignorance, but why would Devcoin need to be forked just to have it working the way it used to work? I mean, at one time (and for a long time) it was working just fine from the technical perspective. What changed and why has it been nonfunctional for so long?

Hey Wiser, the big problem we have is that essential services are being run by people who just have no interest in keeping them ticking, and don't respond when you try to get them to do their job.

I suspect a falling price has a lot to do with that, along with lackluster leadership. I take responsibility for my part, but there's nothing I can do about the price. Devtome was great, but it was a black hole. It never even close to paid for itself, and the price whittled away, making it even harder to get people to make an effort. Even moving the site into other's hands has proven futile, and now it's in no mans land. I'm still trying to get this working again, and the last communication I received was that there was progress. My share proposal was too little too late, as the damage to the coin was already done. The unlimited shares devtome could earn meant developers ran for the hills.

To add to that, both of the only exchanges that deal with dvc have both recently stopped working. Cryptsy hasn't sent out btc for a month according to the forums, and Vircurex hasn't been processing deposits for a while apparently.

I'm more than happy to step aside and let someone else take charge if they believe they can turn this ship around. The only reason I could think of to fork devcoins would be to decentralize everything. Absolutely nothing that relies on one person alone to do their job.

I believe the key to that problem lies in DACs - Distributed Autonomous Corporations, and the only thing holding that back, as far as I can see, are that domain registrars don't allow domain purchases via API *and* bitcoins yet.

HB

The first step is to start the conversation and it is great that you jumped in HB! IMHO forking is an option to evaluate along with other options that community can propose.

Regarding you step aside if someone else wants to take over, perhaps you feel a bit unmotivated by current situation of Devcoin, what you really need IMHO is help from the community, that is part our fault as a community but you can also make something, leadership is about moving together towards a vision. Hopefully Devcoin has clear vision, now is time to start over, we are still alive!

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December 18, 2015, 11:10:39 AM
 #6452

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.


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December 18, 2015, 07:03:40 PM
 #6453

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.



If anyone couldn't see this coming, I'm not sure what to say. I wiped my Cryptsy balances about a month ago when a flood of reports started coming out about not being able to withdraw. If people didn't heed that warning and know something was about to happen... well, this is going to happen again. You'd think people would have learned from Mt. Gox, Smiley.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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December 21, 2015, 12:05:48 AM
 #6454

You may want to fork bitshares amd have earners run delegates as workers... Its a bit more decentralized through voting.

Forking Bitshares is an option but it's also an option to build on top of Tauchain or Ethereum. It depends on your time frame.

Devshares would be a not bad idea but then it's not mined. Tauchain would allow for mining. Ethereum would also allow for mining.


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December 21, 2015, 12:08:25 AM
 #6455

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.



If anyone couldn't see this coming, I'm not sure what to say. I wiped my Cryptsy balances about a month ago when a flood of reports started coming out about not being able to withdraw. If people didn't heed that warning and know something was about to happen... well, this is going to happen again. You'd think people would have learned from Mt. Gox, Smiley.

I contacted someone here. What you should do is contact Open Ledger so that DVC can be traded on a decentralized exchange. It's win win because Open Ledger needs the liquidity and DVC needs an exchange which is resilient. There is also Metaexchange to contact.

https://www.openledger.info/
https://metaexchange.info/
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December 21, 2015, 12:17:41 AM
 #6456

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.



If anyone couldn't see this coming, I'm not sure what to say. I wiped my Cryptsy balances about a month ago when a flood of reports started coming out about not being able to withdraw. If people didn't heed that warning and know something was about to happen... well, this is going to happen again. You'd think people would have learned from Mt. Gox, Smiley.

I contacted someone here. What you should do is contact Open Ledger so that DVC can be traded on a decentralized exchange. It's win win because Open Ledger needs the liquidity and DVC needs an exchange which is resilient. There is also Metaexchange to contact.

https://www.openledger.info/
https://metaexchange.info/

Open Ledger is a p2p exchange? but i thought is needed to go through bitshares, i mean it have not direct exchange dvc/btc it can be a little embarrasing for no technical users
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December 21, 2015, 01:11:26 AM
 #6457

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.



If anyone couldn't see this coming, I'm not sure what to say. I wiped my Cryptsy balances about a month ago when a flood of reports started coming out about not being able to withdraw. If people didn't heed that warning and know something was about to happen... well, this is going to happen again. You'd think people would have learned from Mt. Gox, Smiley.

I contacted someone here. What you should do is contact Open Ledger so that DVC can be traded on a decentralized exchange. It's win win because Open Ledger needs the liquidity and DVC needs an exchange which is resilient. There is also Metaexchange to contact.

https://www.openledger.info/
https://metaexchange.info/

Open Ledger is a p2p exchange? but i thought is needed to go through bitshares, i mean it have not direct exchange dvc/btc it can be a little embarrasing for no technical users

It's a P2P exchange which goes through Bitshares 2.0. Bitshares 2.0 is not like Bitshares 1.0.

I guess their marketing isn't very good or is non-existent which is why no one knows it's even a decentralized exchange.

You can do direct exchanges through Metaexchange which is based on Bitshares 2.0 also. Try Metaexchange and see for yourself.

https://metaexchange.info/markets/ETH/BTC
https://metaexchange.info/markets/NXT/BTC

As for centralization, depending on the asset it can be completely decentralized or not but the way it works is you have IOU assets like OpenBTC, TradeBTC, etc, which represent Bitcoin on the Bitshares Blockchain. This allows Open Ledger and Metaexchange to both trade real Bitcoin on their exchanges. The risk is in the fact that you're dealing with IOUs but this is currently how centralized exchanges or Ripple does things, it's always with IOUS.

The Gateways redeem the IOUs for the actual tokens when people cash out. It's decentralized based on the fact that there is multisig control of the IOUs like OpenBTC, TradeBTC, etc. It's not centralized, so there is no website you can take down to take all the IOUs out of the system. If Metaexchange goes down you'd still be able to trade on Open Ledger or anything else.

It's about as decentralized at this time and still maintain the functions of an exchange. You can directly trade BTC for DVC on Bitcointalk but you can't do it from an exchange interface and you'd have to trust that person. On Bitshares you're indirectly doing it because you're exchanging OpenBTC, TradeBTC, etc, in exchange for OpenDVC, TradeDVC, etc, which are IOUs which all get redeemed at withdraw. Your risk is that the multisig accounts which control the pool of BTC and DVC can be compromised but ownership is decentralized. Even ownership of Metaexchange and Open Ledger is decentralized by Meta fee shares and oBits.

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December 21, 2015, 01:49:58 AM
 #6458

As for Cryptsy, it seems parts of it are working fine. You can still send deposits and those go through fine. You can use your BTC to buy and withdraw many altcoins (hence their high price relative to other exchanges), and then you can move out the altcoins. The DVC price was at the level it's at now before Cryptsy started having its issues and the price hasn't gone down since. If a different exchange traded in DVC, then I suspect its Cryptsy price would also be inflated. I got off Vircurex quite a while ago, and had forgotten they were even still online, because I started encountering more and more hiccups with deposits and withdrawals and I worried that they might be Goxing. With Cryptsy, I think they are having genuine issues and they are genuinely working to mitigate them, but their poor PR and communication is making matters worse and leading to FUD, etc.


Cryptsy was hacked, or an insider job, whatever, at least according to rumors I've heard. There's an article allegedly about cryptsy http://forums.prohashing.com/viewtopic.php?f=11&t=655&p=2477 . I have coins I'm unable to withdraw from there and my support tickets get closed. Now they don't even respond to them. Playing with fire if you deposit coins there. Strongly advise don't do it.



If anyone couldn't see this coming, I'm not sure what to say. I wiped my Cryptsy balances about a month ago when a flood of reports started coming out about not being able to withdraw. If people didn't heed that warning and know something was about to happen... well, this is going to happen again. You'd think people would have learned from Mt. Gox, Smiley.

I contacted someone here. What you should do is contact Open Ledger so that DVC can be traded on a decentralized exchange. It's win win because Open Ledger needs the liquidity and DVC needs an exchange which is resilient. There is also Metaexchange to contact.

https://www.openledger.info/
https://metaexchange.info/

Open Ledger is a p2p exchange? but i thought is needed to go through bitshares, i mean it have not direct exchange dvc/btc it can be a little embarrasing for no technical users

It's a P2P exchange which goes through Bitshares 2.0. Bitshares 2.0 is not like Bitshares 1.0.

I guess their marketing isn't very good or is non-existent which is why no one knows it's even a decentralized exchange.

You can do direct exchanges through Metaexchange which is based on Bitshares 2.0 also. Try Metaexchange and see for yourself.

https://metaexchange.info/markets/ETH/BTC
https://metaexchange.info/markets/NXT/BTC

As for centralization, depending on the asset it can be completely decentralized or not but the way it works is you have IOU assets like OpenBTC, TradeBTC, etc, which represent Bitcoin on the Bitshares Blockchain. This allows Open Ledger and Metaexchange to both trade real Bitcoin on their exchanges. The risk is in the fact that you're dealing with IOUs but this is currently how centralized exchanges or Ripple does things, it's always with IOUS.

The Gateways redeem the IOUs for the actual tokens when people cash out. It's decentralized based on the fact that there is multisig control of the IOUs like OpenBTC, TradeBTC, etc. It's not centralized, so there is no website you can take down to take all the IOUs out of the system. If Metaexchange goes down you'd still be able to trade on Open Ledger or anything else.

It's about as decentralized at this time and still maintain the functions of an exchange. You can directly trade BTC for DVC on Bitcointalk but you can't do it from an exchange interface and you'd have to trust that person. On Bitshares you're indirectly doing it because you're exchanging OpenBTC, TradeBTC, etc, in exchange for OpenDVC, TradeDVC, etc, which are IOUs which all get redeemed at withdraw. Your risk is that the multisig accounts which control the pool of BTC and DVC can be compromised but ownership is decentralized. Even ownership of Metaexchange and Open Ledger is decentralized by Meta fee shares and oBits.




I don't know much about these two exchanges but from what you say it sounds like a good idea to get DVC on there. It's good to have multiple options, so that if one exchange has problems it's easy to just move over to another one.
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December 21, 2015, 09:24:11 AM
 #6459

Hi guys!

Vircurex guy put the wallet service back up, it had been down for a while and had not had the ability to check the wallets.
 Everything is working again!

Twitter: Apis Apis @infinitypump
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December 21, 2015, 03:04:07 PM
 #6460

Hi guys!

Vircurex guy put the wallet service back up, it had been down for a while and had not had the ability to check the wallets.
 Everything is working again!

You made my day! Thank you!

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