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Author Topic: [DVC]DevCoin - Official Thread - Moderated  (Read 633735 times)
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HHWlife
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August 05, 2017, 08:57:21 PM
 #7021

Yeah I helped Unthinkingbit create this coin, and I still run the receivers script for him each cycle creating the receiver and account files that he then sends out to the other custodians....ch caused by some new update of bitcoin....

DeVCoin, IXCoin and I0Coin are still on exchanges and DeVCoin has still not gone down to one Lite-satishi nor one DOGE-satoshi so it is far from dead.

-MarkM-


so you are waiting for this coin to be really really dead since  its not down to one Lite-satoshi?

even though ppl appreciate all the work you put into dvc and you deserve to be compensated for it, usually any coin over 2billion, unless it has a superstar devs or strong dedicated team, will be looked upon as a pumpanddump coin (exception: dogecoin but even that coin is not taken seriously. unlike dvc ripple and stellar got dedicated team) where the starter devs' only interest is to make quick bucks and get out. this coin has shown that(look at our historical chart). all the evidence shows dvc has not been for the community.

however, we can change that. if you are serious about reviving this coin and get compensated for your past and future work, i recomend that you either 1) create new coin(for ex. creating a new erc20 coin on ethereum blockchain or wave platform) with the same name and let the holders swap where the total new coin is 100mil to 1billion; or 2) if you want no new coin at least burn the total coin supply and reduce to no more than 1billion total supply, or find other ways to reduce the supply.

i dont necessarily disagree with anything you said other than the total coin supply reduction bc we dont seem to have full time active dev at the moment.  ppl would feel more confident to invest if whales dont have so much percentage of total coins to manipulate the price.  nobody wants to be victims of pump and dump which is pretty common in the crypto world.  
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August 05, 2017, 09:12:19 PM
 #7022

100% support them. not maybe or maybe not support them. thats what i meant. support them 100%

But on your statement - why should you or I be 100% supported for doing basically nothing for X years beyond waiting and hoping?

the fact that ppl bought the coin is something not nothing. most ppl will not get involved actively. they took the initiative to buy/mine the coin. they spent money. its like ppl who bought bitcoin very early and got lucky. they didnt do diddle either but at least they got in early and got rich.

ppl who bought or mined  dvc early should be compensated 100% for believing in this coin if we swap.
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August 06, 2017, 06:06:01 AM
 #7023

even though ppl appreciate all the work you put into dvc and you deserve to be compensated for it, usually any coin over 2billion, unless it has a superstar devs or strong dedicated team, will be looked upon as a pumpanddump coin (exception: dogecoin but even that coin is not taken seriously. unlike dvc ripple and stellar got dedicated team) where the starter devs' only interest is to make quick bucks and get out. this coin has shown that(look at our historical chart). all the evidence shows dvc has not been for the community.
You're thinking of this coin as if it is like other coins, but my understanding is its history is different. It was created to reward people working on open source software or writing articles on devtome. It wasn't created to "make quick bucks" or to pump and dump. The way it works is open source developers get their devcoins and they sell it as a way to make an income off their software efforts People who want to support the open source devs buy devcoins. By buying devcoins they are creating price support for the devs selling it. Buying devcoins is like donating to open source software. That few people are propping up the price is probably more a reflection of not understanding the reasoning behind the coin.

New developers should define what they want the new coin to be. Is it the above, or something different? If it's different, they should create a new coin. Markm being an original designer of the coin doesn't need to start a new coin to continue it - they already have it. What's the point of calling a new coin 'devcoin' if it's completely different from current devcoin and is just like every other coin?

An understanding of why devcoin hasn't gotten more popular would be a good discussion. I see lack of keeping the client updated, the distribution of coins to developers isn't very transparent, devtome authors got large amounts compared to others, devtome didn't pull in the advertising income that was expected and the lack of understanding that buying devcoins off developers is a way of donating to them.

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August 06, 2017, 06:36:17 AM
 #7024

I still have some leftover coins from the yester years.Any working exchange to trade them?

                                 
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August 06, 2017, 02:19:37 PM
 #7025

Don't forget Cryptsy. I lost over 134 bitcoins that were the buy-side support for DeVCoin, IXCoin, and I0Coin on Cryptsy.

Recovering from that loss of capital is taking time, but recovery is happening, take a look at IXCoin and I0Coin now; DeVCoin I have only in the last few days started on because I had not wanted to own any Litecoins nor any DOGE, and until some recent time, I am not sure when, there was no market of DVC vs BTC. Now I see there is DVC/BTC again but price has gone so low it is not practical yet to work on that market so I am working in Litecoins for now until we get prices back up some.

I suggest that things like what happened with Cryptsy are bigger problems than most are aware, and that the coin is being blamed for what really is mostly just the effect of the theft of the project's working-capital by Cryptsy.

If we still had the 134+ BTC and 800k+ IXCoin and I cannot recall offhand how many hundreds of millions of DeVCoins that Cryptsy stole we would be in far better shape than we currently are. Give us time to recover.


I still have some leftover coins from the yester years.Any working exchange to trade them?

Some place called CoinGather, no idea if it is just another bunch of thieves though.

-MarkM-
 

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August 06, 2017, 05:20:47 PM
 #7026

the fact that ppl bought the coin is something not nothing. most ppl will not get involved actively. they took the initiative to buy/mine the coin. they spent money. its like ppl who bought bitcoin very early and got lucky. they didnt do diddle either but at least they got in early and got rich.

ppl who bought or mined  dvc early should be compensated 100% for believing in this coin if we swap.
Then the obvious retort is to ask why we deserve a bailout for a losing choice?

Otherwise, many perhaps most dvc holders 'earned' rather than bought them. As mmpool outlines, Devcoin's rationale is different to most. The mechanics were wrong but a bailout would take failed methodology (for reasons where we may disagree) and again underwrite it in a new endeavour. That's asking for more of the same.

How to differentiate between varying interest? I have no idea, but that's one reason I doubt a new coin forcing deletion of the old is a good idea. Another is swap-or-not is secondary to successful mechanics and incentives.

Earn Devcoins by Writing | Devcoin Video
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August 07, 2017, 09:55:47 PM
 #7027

how did you come up with 1mil:1? whats the total supply now? i think 1000:1 seem more realistic. we dont want to reduce the coin too much. i think new total supply should be around 100mil to 1bln. anything more than 10bil. looks like a pump&dump coin(unless we have superstar team working on it) and appears to mainly cater to whales.

Because at current market price:
BTC/USD: $3,356.00
LTC/BTC: 0.01302011
DVC/LTC: 0.00000045

Doing some math:

IF 1,000,000.00 DVC = 1 nDVC THEN

1,000,000.00 DVC * 0.00000045 * 0.01302011 * 3,356.00 = 19.66 USD = 1nDVC

Let's say that TODAY we do the hardfork and we launch the Devcoin Renewal Service, then 19.66 USD is worth 1.00000000 New Devcoin (nDVC), so that:

100,000 DVC = 0.10000000 nDVC = 1.97 USD
10,000 DVC = 0.01000000 nDVC = 0.20 USD
1,000 DVC = 0.00100000 nDVC = 0.02 USD
500 DVC = 0.00050000 nDVC = 0.01 USD

People holding less than 500 DVC have nothing to worry about, and they could still get some nDVC back.

Now look at the extreme scenario. If we do the exchange rate 1:10000000000 (1 nDVC per every 10,000,000,000 DVC):

500 DVC = 0.00000005 nDVC = 0.01 USD
1,000 DVC = 0.00000010 nDVC = 0.02 USD
10,000 DVC = 0.00000100 nDVC = 0.20 USD
100,000 DVC = 0.00001000 nDVC = 1.97 USD
1,000,000 DVC = 0.00010000 nDVC = 19.66 USD
10,000,000 DVC = 0.00100000 nDVC = 196.62 USD
100,000,000 DVC = 0.01000000 nDVC = 1,966.29 USD - Throw your Bitcoin away!
1,000,000,000 DVC = 0.10000000 nDVC = 19,662.97 USD - Total Bitcoin destruction
10,000,000,000 DVC = 1.00000000 nDVC = 196,629.70 USD - What is Bitcoin buddy?

Seriously speaking, I guess that few people is willing to create a coin that is worth more than Bitcoin, but it is still an exchange rate that will not left people behind. That is the only reason

There you have the numbers people, do your own math and please propose your preferred DVC/nDVC exchange rate and state WHY!

i ill say drs should be no longer than one month. this coin has been around over 4yrs. we cant wait forever. lets move fast and ignore naysayers. decentralization means we go democratic and dont heed one or two persons biased argument. just like after many years of debate we finally did the segwit wtnss adoption, lets stop being lazy and start moving.

One month is really a short term IMHO, how about 3 months or maybe 3 old Devcoin cycles?

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August 15, 2017, 04:58:47 PM
 #7028

OK, one week with no feedback or complains, then just stay with this exchange rate:

1,000,000.00 DVC = 1 nDVC

(One million old Devcoin per 1 new Devcoin)

From Step 0 to Step 1

This was the original plan:

1. Define a new Rewards Distribution System (RDS) for new generated Devcoins (a new policy for the receiver_xx.csv files)
2. Define a new Inflation Rate Strategy (IRS O_o!), no more wild generation of Devcoins!
3. Implement RDS & IRS in tesnet
4. Hardfork Devcoin

Then @Sidhujag and @weisoq noted that we should resolve what to do with currently generated Devcoin. That is why we had this long discussion regarding old and new Devcoin.

There might be more to say in the future, but for now KEEP MOVING ON!

Rewards Distribution System (RDS) and Inflation Rate Strategy (IRS)

I'm wondering about a fair RDS. New Devcoin (nDVC) should be sustainable if we want it to prosper. The mission of this project should always be in the core. Devcoin was created to support developers of Free/Libre Open Source Software and artists (poets, writers, painters, etc.). Let's call them: creators. This makes Devcoin an organization with an strong mission, one that can make a difference on peoples lives.

If we want to help others, we should help ourselves first! For example, if you see a person suffering hunger and you have no bread to share, and you are suffering hunger as well, how could you help the other person? Go get some bread, eat and share with the other person! What if you see a hundred people suffering hunger? Do you have budget for 100 breads? Should you split your little piece of bread into a hundred little tiny pieces? Should you instead pick one person from the hundred?...

Devcoin project is supposed to help people but we didn't have clear who to help and how to help. Sometimes we make things worst when we try to help people. That is why RDS and IRS are the actual implementation of Devcoin's mission.

Let's meditate about past happenings with Devcoin, does it really helped people or the reverse? Devtome for example, there was a big campaign calling for creators, they believed they could get some money back from their time investment. Some might got something back, but the truth is that Devcoin not helped much. This kind of situations only produces frustration and drives people angry.

Conclusion? Devcoin is in debt with lots of people that trusted the project. We should not left them behind!

With things above in mind, I want to ask you:

1. IRS approach: How could we bring some stability to Devcoin as a currency?
2. RDS approach: How many people and how much should Devcoin project help?

I look forward to your feedback!

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August 16, 2017, 08:23:07 AM
 #7029

Feedback is impossible until you make firm proposals/justification. What changes you want, why and how.
Reiterating a purpose and focusing on secondary issue of a swap is not a plan.

Earn Devcoins by Writing | Devcoin Video
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