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Author Topic: [DVC]DevCoin - Official Thread - Moderated  (Read 634514 times)
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smeagol
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September 02, 2013, 03:08:26 AM
 #821

..
Yeah, I view the system as kind of flawed in this perspective. For each new person we bring on board, our earnings decrease. It's counter-productive to recruit because of that. For example:

We each write 1k words. We have 10 people. Each share is then 10% of the total (18m).
We each write 1k words. We brought on 10 more people. Each share is then 5% of the total (9m).

The more people we bring on, the more work it takes each person in order to keep equal with their past earnings, :p.

The more people we bring in, the more devcoin is worth, because the worth of a coin network increases in proportion to a power of the number of users. According to Metcalfe's Law:
http://en.wikipedia.org/wiki/Metcalfe%27s_law

it is according to the square of users. Although that's not a precise law, the power is certainly higher than one. In the case of devcoin, the more writers we have the higher our page rank, the more people know about the coin and the more businesses we have, which increases the coin value faster than the number of writers. Lately the value has been low, but that's from the whim of the market, if we had fewer writers, the price would be even lower.

In other words, more writers means more shares, but each share is worth more.


I think that we should delay payouts even longer so they can be more valuable to writers, rather than just selling as soon as they land it the wallet.  The longer people have to wait, the more they will say, "savor" their payout and the less likely to sell!  Also recruiting is good too.  The smaller the share, the harder you need to work for the same payout.  As seen in this "quotable quote."

“The longer you have to wait for something, the more you will appreciate it when it finally arrives. The harder you have to fight for something, the more priceless it will become once you achieve it. And the more pain you have to endure on your journey, the sweeter the arrival at your destination. All good things are worth waiting for and worth fighting for.”
-Susan Gale

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September 02, 2013, 08:06:53 PM
 #822

..
Yeah, I view the system as kind of flawed in this perspective. For each new person we bring on board, our earnings decrease. It's counter-productive to recruit because of that. For example:

We each write 1k words. We have 10 people. Each share is then 10% of the total (18m).
We each write 1k words. We brought on 10 more people. Each share is then 5% of the total (9m).

The more people we bring on, the more work it takes each person in order to keep equal with their past earnings, :p.

The more people we bring in, the more devcoin is worth, because the worth of a coin network increases in proportion to a power of the number of users. According to Metcalfe's Law:
http://en.wikipedia.org/wiki/Metcalfe%27s_law

it is according to the square of users. Although that's not a precise law, the power is certainly higher than one. In the case of devcoin, the more writers we have the higher our page rank, the more people know about the coin and the more businesses we have, which increases the coin value faster than the number of writers. Lately the value has been low, but that's from the whim of the market, if we had fewer writers, the price would be even lower.

In other words, more writers means more shares, but each share is worth more.


Also its exponential as people have incentive to hold instead of dump. As more ppl come on price rises ppl hold it rises more.

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September 02, 2013, 10:09:11 PM
 #823

Hey guys, Devcoin is past block 104000. My first devtome payment will be in this round 26 payments. When is the usual payout time for devtome?

There is no "payout time". Each block sends out 90% of its minted coins to people on the recipients list. So where you are on the list determines which block will be one in which you are the recipient or one of the recipients that block, and it keeps looping through the list if there are not as many entries on the list as there are blocks in the 4000 block span of time the list is about.

Used to be you'd thus get some coins daily, but if there happen to be 4000 shares this month each would only get paid out once during the month.

Was nicer when there were way less than 4000 shares as, for example, if there are 400 shares each would end up being paid ten times in order to fill out the month of 4000 blocks of payouts to share out.

-MarkM-



Yeah, I view the system as kind of flawed in this perspective. For each new person we bring on board, our earnings decrease. It's counter-productive to recruit because of that. For example:

We each write 1k words. We have 10 people. Each share is then 10% of the total (18m).
We each write 1k words. We brought on 10 more people. Each share is then 5% of the total (9m).

The more people we bring on, the more work it takes each person in order to keep equal with their past earnings, :p.

There's a flip side to that which unthkingbit touched on.  This is a fiat currency and if you look at the formula for valuing any fiat one very important variable is the velocity of money. This is the turnover rate.  That means the larger your user base the more devcoins are being turned over (over the same given timeframe) thus creating an effective higher demand and a higher value for that underlying fiat.

This phenomenon does take time but the model devcoin has in play is sound and we should see results.  There are no guarantees but this coin is very promising if you're looking out a couple years.  I plan to accumulate with actual cash and I feel confident once Bitcoin gets the ETF license we'll see a much bigger and vast global hype and massive sudden rise in awareness which will dwarf the spike in April of this year.

It's coming and it's gonna be a monster media blitzkrieg like we haven't seen since the Internet boom, only this will be much bigger, volatile and downright violent!


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September 02, 2013, 10:16:31 PM
 #824

Twobits made new builds, at:
http://dls.21stcenturymoneytalk.org/dls/devcoin/

He is also maintaining the source at:
https://gitorious.org/devcoin/devcoin/source/4e23c180945785c49bbab682b7f6c6e1eda29b05:

For this he is now a Source Administrator, and will get administrator pay as long as he maintains devcoin. The applicable links on the devcoin page:
http://www.devtome.com/doku.php?id=devcoin#download

now point to his work. If anyone finds an incorrect link in the download section, please message me.

..
Although I haven't used it, there is another online devcoin wallet at https://yacoin.com/coins which you can not only store devcoins in, but also bitcoin, litecoin, namecoin, ixcoin, feathercoin, bbqcoin, yacoin, and terracoin. It is a multiple coin wallet that deserves some attention, particularly as it includes devcoin.

Thanks for the info, I added a link to that at:
http://www.devtome.com/doku.php?id=devcoin#web

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September 02, 2013, 10:34:37 PM
 #825

I am waiting for the time devcoin will be 0.10 usd. A dream? Well, now there are in existence more the 5 billion dvc, at 0.10 usd each, the total value of devcoin would be 500 million usd, just a tiny fraction of fiat-based economy. Even if we continue to inject 250 million usd / year, it's not going to be a great deal.

Now, let's suppose one of us would be (or already is) in the position to organise a public conference in order to explain this coin to the  world, letting masses know about its existance. If you should tell someone that investing 100 usd now he could get 100.000 usd in a few years, and doing this would even support no profit and humanitarian projects, don't you think he would do it?
If your devcoin should be 1000 time the actual value, would you still care so much about the number of writers flocking in?
We can decide: just wait to get more chances to collect more devcoins, or do our utmost to attract new devcoiners now. One thing i know: the other altcoins are not waiting for us.

$.10 is a definite possibility and I think it's actually quite probable.

Given the illiquid nature of all alt-coins it wouldn't take a lot of interest to spike the price to $.10. 

A good example is Litecoin, it went up for no obvious reason from $.07 in January to over $3 in April.  And Namecoin jumped from $.001 to over $1 in April.  None had anything to offer other than the fact alt coins got a spike in awareness thanks to bitcoin jumping to $266.

It wasn't bitcoin which gave the biggest returns back in April but these other little coins which nobody talked about.  Likewise, I'm focusing my energy and investments on the little mostly ignored coins as I expect a repeat of what happened in April - the little coins which you expect the least from should return much more than the bigger coins which everyone seem to favor.



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September 03, 2013, 08:23:04 PM
 #826

Update!

You can now buy a $10 gift card without any fees, directly with devcoin!  $1 gift cards are not available at the moment.

http://dvc4giftcards.us/store.html

If you want to receive the bounty for buying and writing a review, I suggest you do it now!
"Also 2 shares for the first person who writes about a post at least 50 words long about buying the gift card from each business, and a one share award for the second person."

A question to Unthinkingbit: Once somebody buys a card, does this count towards "Three shares for a devcoin non mining business" as well?

Thank you!

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September 03, 2013, 11:49:16 PM
 #827

Hello, Devcoiners!

I am the founder of the Parabola Project!  We are aiming to create an innovative new coin with multiple services on launch, such as stores, faucets, exchanges, and more!  To support that, we are creating a 5% dev fund, in which every 94th block has six times the coins, but 5/6 of those coins go to the dev wallet.  I have noticed that devcoin has the same thing, though with a 90% dev fund.  I am interested in the mechanism of that fund and how we can implement it into parabolas!

Thanks
xsquared

A parabola (plural parabolas or parabolae, adjective parabolic, from Greek: παραβολή) is a two-dimensional, mirror-symmetrical curve.  y = x2
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September 04, 2013, 01:07:16 AM
 #828

Update!

You can now buy a $10 gift card without any fees, directly with devcoin!  $1 gift cards are not available at the moment.

http://dvc4giftcards.us/store.html

Great!

..
A question to Unthinkingbit: Once somebody buys a card, does this count towards "Three shares for a devcoin non mining business" as well?

I didn't think of that when I wrote the gift card bounty, it's ok by me. Three shares isn't really enough to start a business anyways, so I'd like to use up those bounties.

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September 04, 2013, 03:33:47 AM
 #829

UnthinkingBit,

Would you consider a bounty for someone who sets up a solid business (and I like non-mining too Smiley ) and also creates a DVC-denominated security so that people can invest in their venture?

I'm not looking to get the bounty if it's offered, but I would like to buy a greater variety of DVC-denominated stocks.

If this idea takes off and a bunch of people do this, then it would also be worth someone setting up a DVC trading platform that is just like BTCT.co (maybe the creators would share their script?).


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September 04, 2013, 05:11:29 AM
 #830

Would you consider a bounty for someone who sets up a solid business (and I like non-mining too Smiley ) and also creates a DVC-denominated security so that people can invest in their venture?

There are already is one, although it's small:
http://devtome.com/doku.php?id=devcoin_bounty_now#non_mining_business

Quote
..
If this idea takes off and a bunch of people do this, then it would also be worth someone setting up a DVC trading platform that is just like BTCT.co (maybe the creators would share their script?).

You can already trade devcoin denominated stocks on vircurex, what more is required?

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September 04, 2013, 07:58:54 PM
 #831

Whoot!  Another update!

Both $1 and $10 are on sale, selling with NO fees!  Just hop on over to http://dvc4giftcards.us/store.html, buy a gift card and write your 50 word review!
The $1 gift card is only about 27,000 DVC.  The share award last round was 210,000 DVC, and you must be thinking of a good way to spend it!

"Two shares for the first person who writes about a post at least 50 words long about buying the gift card from (the amazon gift card) business, and a one share award for the second person."

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September 04, 2013, 08:04:14 PM
 #832

Im still confused about devtome. (pardon my ignorance) but, last round started paying out at block 104000. I recieved 2 payments since then which totaled around 90000. Is this all I will be recieving for round 26? I wrote a nice bit, and if this is all I recieve, it doesnt even equal 1 share (Once again Pardon my ignorance). So I am confused. Can someone spread a bit of light on it for me?

Edit: also, I was looking at the round 26 word count CSV sheet. It says I have 5-  Word Count. What does that mean?  Huh  Huh

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September 04, 2013, 09:25:00 PM
 #833

Im still confused about devtome. (pardon my ignorance) but, last round started paying out at block 104000. I recieved 2 payments since then which totaled around 90000. Is this all I will be recieving for round 26? I wrote a nice bit, and if this is all I recieve, it doesnt even equal 1 share (Once again Pardon my ignorance). So I am confused. Can someone spread a bit of light on it for me?

Edit: also, I was looking at the round 26 word count CSV sheet. It says I have 5-  Word Count. What does that mean?  Huh  Huh

Shares are generated in 45K DVC chunks (one block of DVC= 50K coins - 5K for the miners = 45K for you). You'll get shares according to your addy placement in the receivers file. Every block that's created throughout round 26 will go to the addies in that list in order. You may get your full shares in just a few blocks or it could take all month to get all of them.

The 5 - Word count bit is how many shares you earned and what for. You earned 5 shares (which I believe are 5x45K chunks this round) so you'll get 25 payments of 45K DVC each as the month progresses.
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September 04, 2013, 10:08:58 PM
 #834

A share was closer to 200K coins so 5 shares is about 1 million devcoins paid out in 45K chunks.

It's actually nice to get Paid everyday all month long.


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September 04, 2013, 11:00:51 PM
 #835

Im still confused about devtome. (pardon my ignorance) but, last round started paying out at block 104000. I recieved 2 payments since then which totaled around 90000. Is this all I will be recieving for round 26? I wrote a nice bit, and if this is all I recieve, it doesnt even equal 1 share (Once again Pardon my ignorance). So I am confused. Can someone spread a bit of light on it for me?

Edit: also, I was looking at the round 26 word count CSV sheet. It says I have 5-  Word Count. What does that mean?  Huh  Huh

Shares are generated in 45K DVC chunks (one block of DVC= 50K coins - 5K for the miners = 45K for you). You'll get shares according to your addy placement in the receivers file. Every block that's created throughout round 26 will go to the addies in that list in order. You may get your full shares in just a few blocks or it could take all month to get all of them.

The 5 - Word count bit is how many shares you earned and what for. You earned 5 shares (which I believe are 5x45K chunks this round) so you'll get 25 payments of 45K DVC each as the month progresses.

Ahh nice. Thank you for laying it out in easy terms lol. Smiley

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September 05, 2013, 01:50:53 AM
 #836


There are already is one, although it's small:
http://devtome.com/doku.php?id=devcoin_bounty_now#non_mining_business


So it includes having a security associated with it?
..
If this idea takes off and a bunch of people do this, then it would also be worth someone setting up a DVC trading platform that is just like BTCT.co (maybe the creators would share their script?).


You can already trade devcoin denominated stocks on vircurex, what more is required?


I think you meant to say Cryptostocks, and you are right.  I just really prefer the BTCT.co setup.  It's cleaner, has far fewer glitches, keeps better records, has a nicer layout...  I'd love to see something like that just for DVC securities.  In the mean time I do use Cryptostocks for all my DVC investments.

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September 05, 2013, 03:45:02 AM
 #837

You can already trade devcoin denominated stocks on vircurex, what more is required?

How/where on Vircurex?

I have Vircurex open all the time, usually on the DVC/BTC page, but looking at all the links I can click from there I do not see anything about shares?

There are of course some dDVC-denominated assets on the Digitalis Open Transactions server, which seem to have been doing okay:

http://galaxies.mygamesonline.org/plotdvc.html
http://galaxies.mygamesonline.org/plotsharesindvc.html

http://galaxies.mygamesonline.org/indevcoins.html
http://galaxies.mygamesonline.org/sharesindvc.html

-MarkM-

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September 05, 2013, 03:52:18 AM
 #838

You can already trade devcoin denominated stocks on vircurex, what more is required?

How/where on Vircurex?

I have Vircurex open all the time, usually on the DVC/BTC page, but looking at all the links I can click from there I do not see anything about shares?

There are of course some dDVC-denominated assets on the Digitalis Open Transactions server, which seem to have been doing okay:

http://galaxies.mygamesonline.org/plotdvc.html
http://galaxies.mygamesonline.org/plotsharesindvc.html

http://galaxies.mygamesonline.org/indevcoins.html
http://galaxies.mygamesonline.org/sharesindvc.html

-MarkM-


I'm sure UnthinkingBit meant Cryptostocks, which is run by the same group that runs Vircurex.  Thanks for the heads up about other DVC-denominated assets.  I will definitely check them out.  So far the only ones I've known about are the ones on Cryptostocks.

DNotes 2.0 - Bridging the Gap Between the Centralized and Decentralized World - https://bitcointalk.org/index.php?topic=1924858.0
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September 05, 2013, 05:59:29 AM
 #839

..
So it includes having a security associated with it?

Any devcoin business, with or without a security.

Quote
You can already trade devcoin denominated stocks on vircurex, what more is required?

I think you meant to say Cryptostocks, and you are right.

Indeed I meant Cryptostocks.

Quote
I just really prefer the BTCT.co setup.  It's cleaner, has far fewer glitches, keeps better records, has a nicer layout...

Bounties are a blunt tool, only good for getting objective, easy to define requirements. Quality is subjective so bounties aren't suited for that.

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September 05, 2013, 02:52:50 PM
 #840

Whoot!  Another update!

Both $1 and $10 are on sale, selling with NO fees!  Just hop on over to http://dvc4giftcards.us/store.html, buy a gift card and write your 50 word review!
The $1 gift card is only about 27,000 DVC.  The share award last round was 210,000 DVC, and you must be thinking of a good way to spend it!

"Two shares for the first person who writes about a post at least 50 words long about buying the gift card from (the amazon gift card) business, and a one share award for the second person."

bump for buyers
0 customers so far

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