[DVC]DevCoin - Official Thread - Moderated

[sidhujag]

I didnt know that, cool... I was actually looking at one that seems to be professional and better than the others I looked at... its $899 on ebay original price of $1200: http://www.ebay.ca/itm/171047705105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

There are others like: http://itechscripts.com/quibids_clone.html which is $240 + $160 for source and $70 for SEO package. I think the first one has some better featurs, but the second one would do the job as well.

THe first one (if we plan to allow fiat) would have ability to set tax codes up or just simply enable it and the current tax rates would be applied to where you live... and the second one allows you to simply say hey, your in USA? Sucks to be you, you cant register.

An important thing to remember is that I suggested a penny auction, not just a normal auction. These style of quibids style auction sites generate insane profit and are easily organized since the company is the only one who is doing the selling. What we want to leverage is the share system so that we can buy things and put them up for sale and generate profit on the go. Report these profits monthly, and spend the profit either to buy up the exchange rate or on another resource like maybe funding bounties or something.

By leveraging the share system we actually seperate ourselves from a traditional business so you can answer the question, "Why dont I just start this business my self without the help of Devcoin?", well devcoin is funding it so unless you have a continous funding stream good luck, with Devcoin we have it and so we use it to try to bring in a profit.

Im not sure what the right number is, but we need for it to grow as demand increases. Either the price rises of devcoin to allow for this or the number of shares are increased and sold at market to buy the things needed to sell. Anyways I'll try to start a writeup.

Not sure if non free open source off the shelf is the way to go. Who would be the legal entitity owning the license-to-use-it?

As to using shares to buy products, I say no. I say sell the damn bids first, then buy products to put up for auction using the money the bids were sold for, since until people have bids they cannot bid anyway so there is no point auctioning anything anyway. Let the sale of the bids finance buying the things to auction. Shares will be eaten as it is just for simple one share per round admins and auctioneers and site-maintainers and maybe even for creating of new features or for modifying any features the admins cannot themselves for some reason modify.

-MarkM-

The source is given to you in either case and you are free to use it for any purpose you desire. If we use fiat then yea maybe we have to create a legal entity for Devcoin and for the business, but for coins do we need to register an actual company? I dont think so, its like an exchange offering only crypto's like crypto-trade.com  or cryptsy ( i think they dont do deposits / withdrawls of fiat)

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[markm]

I think that is the way quibids works and I would imagine this would work. You buy points using coinpayments, and you use these points to make a bid. Each point would cost say $0.60 and each bid would move price by $0.01 (translated to some metric, like devcoin or maybe stay in fiat?) This way you can sell points packages aswell right, and someone may end up getting a package for 500 points for less than $500*0.60, alot less depending on their luck

I don't think the business model is in question, quibids makes money they way they have thier site set up. No doubt. Handling the payments after they are won, or handling adding auctions, and where they are sent and the database and the security of the site will be the big time sink in this I would think. Scripts are nice, but you still have to build them and then hone them. Not to mention the initial design of the site. And then advertising to get people there. If it isn't right the first time, word of mouth will travel faster then your advertising.

About the start off with scraping, not going to happen, no one is going to take that job on.

I think the business model is indeed in question.

What will it take to convince people to use our actions instead of famous ones, ones that have lots more items up for sale at all times, ones that do not require muscking about with cryptocoins even maybe. Already people with bitcoins can supposedly use a widget in their browser that lets them buy anything at any normal (or major?) website, with the website only seeing the fiat it wants and the bitcoin user actually paying the magic card people (who make the browser plugin) in bitcoins. Cannot such services work on auction sites as well as retailing sites? If so, why not just use such a service and go to the real quibids or whatever and use your cryptocoins there?

Etc.

-MarkM-

[sidhujag]

I didnt know that, cool... I was actually looking at one that seems to be professional and better than the others I looked at... its $899 on ebay original price of $1200: http://www.ebay.ca/itm/171047705105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

There are others like: http://itechscripts.com/quibids_clone.html which is $240 + $160 for source and $70 for SEO package. I think the first one has some better featurs, but the second one would do the job as well.

THe first one (if we plan to allow fiat) would have ability to set tax codes up or just simply enable it and the current tax rates would be applied to where you live... and the second one allows you to simply say hey, your in USA? Sucks to be you, you cant register.

An important thing to remember is that I suggested a penny auction, not just a normal auction. These style of quibids style auction sites generate insane profit and are easily organized since the company is the only one who is doing the selling. What we want to leverage is the share system so that we can buy things and put them up for sale and generate profit on the go. Report these profits monthly, and spend the profit either to buy up the exchange rate or on another resource like maybe funding bounties or something.

By leveraging the share system we actually seperate ourselves from a traditional business so you can answer the question, "Why dont I just start this business my self without the help of Devcoin?", well devcoin is funding it so unless you have a continous funding stream good luck, with Devcoin we have it and so we use it to try to bring in a profit.

Im not sure what the right number is, but we need for it to grow as demand increases. Either the price rises of devcoin to allow for this or the number of shares are increased and sold at market to buy the things needed to sell. Anyways I'll try to start a writeup.

Not sure if non free open source off the shelf is the way to go. Who would be the legal entitity owning the license-to-use-it?

As to using shares to buy products, I say no. I say sell the damn bids first, then buy products to put up for auction using the money the bids were sold for, since until people have bids they cannot bid anyway so there is no point auctioning anything anyway. Let the sale of the bids finance buying the things to auction. Shares will be eaten as it is just for simple one share per round admins and auctioneers and site-maintainers and maybe even for creating of new features or for modifying any features the admins cannot themselves for some reason modify.

-MarkM-

Problem is noone would buy bids until they "see" something they desire. Through word of mouth or advertising, hey someone was able to buy an ipad mini for a fraction of the cost, ok let me buy some bids and try it myself!

If you sell the bids first every time, then the user has to assume you will put something up that they like, and if that changes you lose their trust. You need to offer the good first (initial risk) as with any business, you must take an initial hit hoping the market will come to you. With this business model , I am highly certain that there is a market for it especially being only in crypto's and not having to register as a business? No tax?

[markm]

I didnt know that, cool... I was actually looking at one that seems to be professional and better than the others I looked at... its $899 on ebay original price of $1200: http://www.ebay.ca/itm/171047705105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

There are others like: http://itechscripts.com/quibids_clone.html which is $240 + $160 for source and $70 for SEO package. I think the first one has some better featurs, but the second one would do the job as well.

THe first one (if we plan to allow fiat) would have ability to set tax codes up or just simply enable it and the current tax rates would be applied to where you live... and the second one allows you to simply say hey, your in USA? Sucks to be you, you cant register.

An important thing to remember is that I suggested a penny auction, not just a normal auction. These style of quibids style auction sites generate insane profit and are easily organized since the company is the only one who is doing the selling. What we want to leverage is the share system so that we can buy things and put them up for sale and generate profit on the go. Report these profits monthly, and spend the profit either to buy up the exchange rate or on another resource like maybe funding bounties or something.

By leveraging the share system we actually seperate ourselves from a traditional business so you can answer the question, "Why dont I just start this business my self without the help of Devcoin?", well devcoin is funding it so unless you have a continous funding stream good luck, with Devcoin we have it and so we use it to try to bring in a profit.

Im not sure what the right number is, but we need for it to grow as demand increases. Either the price rises of devcoin to allow for this or the number of shares are increased and sold at market to buy the things needed to sell. Anyways I'll try to start a writeup.

Not sure if non free open source off the shelf is the way to go. Who would be the legal entitity owning the license-to-use-it?

As to using shares to buy products, I say no. I say sell the damn bids first, then buy products to put up for auction using the money the bids were sold for, since until people have bids they cannot bid anyway so there is no point auctioning anything anyway. Let the sale of the bids finance buying the things to auction. Shares will be eaten as it is just for simple one share per round admins and auctioneers and site-maintainers and maybe even for creating of new features or for modifying any features the admins cannot themselves for some reason modify.

-MarkM-

The source is given to you in either case and you are free to use it for any purpose you desire. If we use fiat then yea maybe we have to create a legal entity for Devcoin and for the business, but for coins do we need to register an actual company? I dont think so, its like an exchange offering only crypto's like crypto-trade.com  or cryptsy ( i think they dont do deposits / withdrawls of fiat)

They let you give out the source to anyone?

I thought they sold you a license to use the source, which brings up the question of what legal entity is to serve as that "you".

That is, who exactly, among all the billions of people on the planet or among all the domains on the web or however they structure it, is licensed to run the code? For how many users? On how many domains or URLs or physical servers?

There is no "Devcoin project" as a legal entity. Would we form such an entity? Or form a "Devbids Incorporated" entity? Or both since even given we form an auctioneer entity we might still find it useful to have a Devcoin Incorporated entity that can seed projects before spawning them off into separate new corps of their own...

With free open source we could even form the project, have music dev-auctions site, sculture dev-auctions site, paintings dev-auctions site etc, or even just two different teams or ten different teams each of which wants to evolve the code in a different direction...

-MarkM-

[dalamar96]

I think the business model is indeed in question.

What will it take to convince people to use our actions instead of famous ones, ones that have lots more items up for sale at all times, ones that do not require muscking about with cryptocoins even maybe. Already people with bitcoins can supposedly use a widget in their browser that lets them buy anything at any normal (or major?) website, with the website only seeing the fiat it wants and the bitcoin user actually paying the magic card people (who make the browser plugin) in bitcoins. Cannot such services work on auction sites as well as retailing sites? If so, why not just use such a service and go to the real quibids or whatever and use your cryptocoins there?

Etc.

-MarkM-

Exactly,

  What is stopping Quibids from using your coins at somepoint and having the user base and auctions already running compltely undermining your site. Even if they don't use coinbase and get the cash then go to quibids instead. it is a lot of work, and research that has to be done to make a site that can compete with quibids or the other one that does similar auctions and the advertising and what not to get seen and the acceptance of crypto. I don't think this is feasible for one person to take on (Even a small group of people unless they are in it heart and soul and care not about the chance of failure and no profit just to build it because they can like the open source community does. That is why I joined, way back. Because I could do it, why not.)  

[dalamar96]

Problem is noone would buy bids until they "see" something they desire. Through word of mouth or advertising, hey someone was able to buy an ipad mini for a fraction of the cost, ok let me buy some bids and try it myself!

If you sell the bids first every time, then the user has to assume you will put something up that they like, and if that changes you lose their trust. You need to offer the good first (initial risk) as with any business, you must take an initial hit hoping the market will come to you. With this business model , I am highly certain that there is a market for it especially being only in crypto's and not having to register as a business? No tax?

creating as a business (at least in the US) is not just to create a business, it is for covering your personal assets and what not if someone sue's you (which they prolly will in this case) and also to get a lower tax rather then at full personal tax rates.

[markm]

Problem is noone would buy bids until they "see" something they desire. Through word of mouth or advertising, hey someone was able to buy an ipad mini for a fraction of the cost, ok let me buy some bids and try it myself!

If you sell the bids first every time, then the user has to assume you will put something up that they like, and if that changes you lose their trust. You need to offer the good first (initial risk) as with any business, you must take an initial hit hoping the market will come to you. With this business model , I am highly certain that there is a market for it especially being only in crypto's and not having to register as a business? No tax?

Did you not follow this thread?

I gave samples of things to auction and already had one person say they wanted to bid on at least one of the bundles I mentioned.

Each day you specify what will be auctioned next and how many bids need to be sold before it gets auctioned, along with news about any cool new additional things the previous day's sales of bids have provided us enough capital to also offer for auction.

So people always know some things that will be auctioned, they just might not know how long it will take for us to sell enough bids to make it feasible for us to actually start the auction aka to actually afford the thing we plan to auction.

So like we could say the first auction will be a 2015 Ford Taurus. Once we have sold X bids that auction will start. If you want it to start soon, buy bids fast.
Once we have sold enough bids to buy the car, we start the auction.

It is very similar to a charity raffle, actually. Instead of buying raffle tickets they are buying bids.

Very soon we should have profits out of which to buy more things over and above these scheduled in advance things.

Like "wow well done folks, you bought so many bids we will not only auction the Taurus, we will also auction a Mini Cooper!"

-MarkM-

[sidhujag]

I didnt know that, cool... I was actually looking at one that seems to be professional and better than the others I looked at... its $899 on ebay original price of $1200: http://www.ebay.ca/itm/171047705105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

There are others like: http://itechscripts.com/quibids_clone.html which is $240 + $160 for source and $70 for SEO package. I think the first one has some better featurs, but the second one would do the job as well.

THe first one (if we plan to allow fiat) would have ability to set tax codes up or just simply enable it and the current tax rates would be applied to where you live... and the second one allows you to simply say hey, your in USA? Sucks to be you, you cant register.

An important thing to remember is that I suggested a penny auction, not just a normal auction. These style of quibids style auction sites generate insane profit and are easily organized since the company is the only one who is doing the selling. What we want to leverage is the share system so that we can buy things and put them up for sale and generate profit on the go. Report these profits monthly, and spend the profit either to buy up the exchange rate or on another resource like maybe funding bounties or something.

By leveraging the share system we actually seperate ourselves from a traditional business so you can answer the question, "Why dont I just start this business my self without the help of Devcoin?", well devcoin is funding it so unless you have a continous funding stream good luck, with Devcoin we have it and so we use it to try to bring in a profit.

Im not sure what the right number is, but we need for it to grow as demand increases. Either the price rises of devcoin to allow for this or the number of shares are increased and sold at market to buy the things needed to sell. Anyways I'll try to start a writeup.

Not sure if non free open source off the shelf is the way to go. Who would be the legal entitity owning the license-to-use-it?

As to using shares to buy products, I say no. I say sell the damn bids first, then buy products to put up for auction using the money the bids were sold for, since until people have bids they cannot bid anyway so there is no point auctioning anything anyway. Let the sale of the bids finance buying the things to auction. Shares will be eaten as it is just for simple one share per round admins and auctioneers and site-maintainers and maybe even for creating of new features or for modifying any features the admins cannot themselves for some reason modify.

-MarkM-

The source is given to you in either case and you are free to use it for any purpose you desire. If we use fiat then yea maybe we have to create a legal entity for Devcoin and for the business, but for coins do we need to register an actual company? I dont think so, its like an exchange offering only crypto's like crypto-trade.com  or cryptsy ( i think they dont do deposits / withdrawls of fiat)

They let you give out the source to anyone?

I thought they sold you a license to use the source, which brings up the question of what legal entity is to serve as that "you".

That is, who exactly, among all the billions of people on the planet or among all the domains on the web or however they structure it, is licensed to run the code? For how many users? On how many domains or URLs or physical servers?

There is no "Devcoin project" as a legal entity. Would we form such an entity? Or form a "Devbids Incorporated" entity? Or both since even given we form an auctioneer entity we might still find it useful to have a Devcoin Incorporated entity that can seed projects before spawning them off into separate new corps of their own...

With free open source we could even form the project, have music dev-auctions site, sculture dev-auctions site, paintings dev-auctions site etc, or even just two different teams or ten different teams each of which wants to evolve the code in a different direction...

-MarkM-

Im pretty sure they give you the source but you can't repackage up the thing and sell it to asomeone else, there is a key associated with each customer. So we use it, we can modify the source to our app, people can see our source, but they can't take it and start their own because the original company wouldn't give them a serial number that works for them. They would need to purchase a serial from them. Why does that matter anyway? We are operating a site to bring in profits, like devtome who has the source for that? How come its not published? Most of the businesses dont have to showcase their code, they can and you can see it, but we are limited by the source code originator in this case, so it is a drawback but Id still take it over doing it myself which would take a long time.

[dalamar96]

If they give you the source, you can get around the licencing. Therefore they probably don't give you the full source you need to make the changes you want.

Anyhow, I agree with Mark  on the auctions for the items coming after a certain amount of bids are sold. I don't think that was ever in question, just the people behind it and the "business side of things".

[sidhujag]

Problem is noone would buy bids until they "see" something they desire. Through word of mouth or advertising, hey someone was able to buy an ipad mini for a fraction of the cost, ok let me buy some bids and try it myself!

If you sell the bids first every time, then the user has to assume you will put something up that they like, and if that changes you lose their trust. You need to offer the good first (initial risk) as with any business, you must take an initial hit hoping the market will come to you. With this business model , I am highly certain that there is a market for it especially being only in crypto's and not having to register as a business? No tax?

Did you not follow this thread?

I gave samples of things to auction and already had one person say they wanted to bid on at least one of the bundles I mentioned.

Each day you specify what will be auctioned next and how many bids need to be sold before it gets auctioned, along with news about any cool new additional things the previous day's sales of bids have provided us enough capital to also offer for auction.

So people always know some things that will be auctioned, they just might not know how long it will take for us to sell enough bids to make it feasible for us to actually start the auction aka to actually afford the thing we plan to auction.

So like we could say the first auction will be a 2015c Ford Taurus. Once we have sold X bids that auction will start. If you want it to start soon, buy bids fast.

-MarkM-

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for capital upfront, and I am not aware of an initial offering phase they went through to allow for this.

Look at it this way:

with your way if no bids are sold, no auction. Everything stops.
with my way, if noone is buying bids, an auction still takes place, someone gets something for real cheap, people find out they make sure they are ready the next time. Forces people to come in.

The loss is eaten up as a CODB, its nothing different then assigning a share to anything else we give today. We are not earning profit from it, but it may help us out in the future.

[dalamar96]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

[sidhujag]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

Yes and I am proposing we use ALL of the profits to help devcoin exchange rate, not to recycle in the business which takes away the whole point of why I wanted to do this.

You need the items to be available to be bid enough in a timely manor that is convenient to the users, any user. So thats why I said we should start with a few and stagger them across the week. That way we have like one good auction a day to start. Later as we grow we can have more and more.. and all profits go to the right proceeds.

[markm]

Ok, this is a complete departure from the initial discussion. If someone were to build the site themselves and do the research and what not, what would be the motivation besides the "possible profits".

Why would any motivation other than a cut of (or all of) the profits be needed?

If it is not going to be profitable we don't want to finance it, surely?

If the person who will do it does not think it will be profitable ought we not know that about them instead of getting sucked in by some glib talker who offers to do it even though they themselves think it will not be profitable?

Maybe we should go about this a different way entirely:

Tell people that if they incorporate a corporation to startup such a venture, then Devcoin Venture Capital project or corporation will seriously consider investing in it when it reaches its proof of concept / first call for venture capital stage?

Maybe we would be better off setting up a Devcoin Venture Capital corporation than any particular type of project that might be worth venturing Devcoin capital on?

Devcoin Angels maybe could help with the startup, in an angel round, before the big venture capital firms such as Devcoin Venture Capital Incorporated are invited to participate in an 'A' round?

That seems to be the way Bitcoin is going.

-MarkM-

[dalamar96]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

Yes and I am proposing we use ALL of the profits to help devcoin exchange rate, not to recycle in the business which takes away the whole point of why I wanted to do this.

except that the person that writes this site and does the work will not want to just put that money back into Devcoin (at least not all of it) and will keep it. Therefore not helping DevCoin in that manner, other then the auction site itself.

[sidhujag]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

Yes and I am proposing we use ALL of the profits to help devcoin exchange rate, not to recycle in the business which takes away the whole point of why I wanted to do this.

except that the person that writes this site and does the work will not want to just put that money back into Devcoin (at least not all of it) and will keep it. Therefore not helping DevCoin in that manner, other then the auction site itself.

No no you dont get it, the profits will be visible to anyone. Just like share dispersion, admins can log in and see, all of the profits will be in a wallet with a known public key that you can see balance of on the blockchain. If there is corruption then it is shutdown or rectified simple as that... same goes for anything in devcoin.

[dalamar96]

Ok, this is a complete departure from the initial discussion. If someone were to build the site themselves and do the research and what not, what would be the motivation besides the "possible profits".

Why would any motivation other than a cut of (or all of) the profits be needed?

If it is not going to be profitable we don't want to finance it, surely?

If the person who will do it does not think it will be profitable ought we not know that about them instead of getting sucked in by some glib talker who offers to do it even though they themselves think it will not be profitable?

Maybe we should go about this a different way entirely:

Tell people that if they incorporate a corporation to startup such a venture, then Devcoin Venture Capital project or corporation will seriously consider investing in it when it reaches its proof of concept / first call for venture capital stage?

Maybe we would be better off setting up a Devcoin Venture Capital corporation than any particular type of project that might be worth venturing Devcoin capital on?

Devcoin Angels maybe could help with the startup, in an angel round, before the big venture capital firms such as Devcoin Venture Capital Incorporated are invited to participate in an 'A' round?

That seems to be the way Bitcoin is going.

-MarkM-

Now that i am 100% behind! DevAngles I can get behind!

[dalamar96]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

Yes and I am proposing we use ALL of the profits to help devcoin exchange rate, not to recycle in the business which takes away the whole point of why I wanted to do this.

except that the person that writes this site and does the work will not want to just put that money back into Devcoin (at least not all of it) and will keep it. Therefore not helping DevCoin in that manner, other then the auction site itself.

No no you dont get it, the profits will be visible to anyone. Just like share dispersion, admins can log in and see, all of the profits will be in a wallet with a known public key that you can see balance of on the blockchain. If there is corruption then it is shutdown or rectified simple as that... same goes for anything in devcoin.

No it won't, becuase the person will have to pay for the item after they win the bid, and that will most likely be in USD rather then DEV. Therefore there is no record in the wild of the transaction. Not to mention that they are an entity of thier own and you can't shut them down, they jsut won't get shares from the project, by that time it is too late, they got their shares and put up a for profit site that is making them money either way.

[markm]

Look at it this way:

with your way if no bids are sold, no auction. Everything stops.
with my way, if noone is buying bids, an auction still takes place, someone gets something for real cheap, people find out they make sure they are ready the next time. Forces people to come in.

The loss is eaten up as a CODB, its nothing different then assigning a share to anything else we give today. We are not earning profit from it, but it may help us out in the future.

That is exactly why I never started such a site myself, totally regardless of crypto vs fiat.

I figured what would happen would be people would keep it secret because they like the fact we keep trying to drum up business by in effect giving away stuff cheaper than what we paid for the stuff.

There is no incentive for them to tell anyone about it unless maybe someone they care about really likes something we offer that they don't want themselves and also don't want to pick up dirt cheap to give to that other someone as a present next present-giving-occassion.

(Heck they could buy all our stuff dirt cheap then go sell it on ebay at a profit!)

Frankly you (*) strike me as being all about getting a bounty rather than about you running a profitable business which one way or another happens to benefit Devcoin.

If it is not a great enough idea that someone will do it anyway without a bounty maybe it is not a great enough idea to bother doing at all.

Devcoin was originally about rewarding them for great free open source they already did, not bribing people who aren't going to do it or aren't going to do it as free open source into doing something.

Seems like too many people are about creating bounties, preferably for things they themselves can do, instead of about just doing something that needs doing.

This auction site idea seems less and less like something that needs doing.

* Not sure exactly who, its a general impression garnered across the whole thread.

-MarkM-

[sidhujag]

I get it and I know what you are saying, but just that I dont know how that would work and its another variable. Yes it would eliminate the need to have an upfront cost, but it also eliminates possible demand. Alot of people join up on quibids because they see that there is an auction to be started in 4 hours and it will last 2 hours and they can have a new TV for real cheap. With this model its not possible unless bids are always bought at a certain rate, especially for bigger things. I don't see this as viable long term, but it may be... if this was the way to go, im questioning why quibids has auctions all the time and they didn't go this route since this would eliminate need for captial upfront.

It isn't that that one auction will make them money, it is that overall the 100's they do / day will make them money. 1 bid being .6$ or 1020 DVC will give them enough income for that auction (even if the auction hit 10$ that is about 600$ for them which covers that TV easily, they order it and send it off to the winner. No big deal.

Yes and I am proposing we use ALL of the profits to help devcoin exchange rate, not to recycle in the business which takes away the whole point of why I wanted to do this.

except that the person that writes this site and does the work will not want to just put that money back into Devcoin (at least not all of it) and will keep it. Therefore not helping DevCoin in that manner, other then the auction site itself.

No no you dont get it, the profits will be visible to anyone. Just like share dispersion, admins can log in and see, all of the profits will be in a wallet with a known public key that you can see balance of on the blockchain. If there is corruption then it is shutdown or rectified simple as that... same goes for anything in devcoin.

No it won't, becuase the person will have to pay for the item after they win the bid, and that will most likely be in USD rather then DEV. Therefore there is no record in the wild of the transaction.

They pay for the item before they win the bid, the bid is the payment. We convert the coins used to pay bids we get back for devcoins via marketplace like vircurex. If its USD we go to btc first.

So if you need to see an audit, then thats why I said end of each month a report would be issues with what was sold for what etc, im sure these systems I mentioned offer that. From there you can see that if all the auction closing prices match, then this much profit was made, you can derive it yourself and see if that balance matches whats in the wallet.

[sidhujag]

Look at it this way:

with your way if no bids are sold, no auction. Everything stops.
with my way, if noone is buying bids, an auction still takes place, someone gets something for real cheap, people find out they make sure they are ready the next time. Forces people to come in.

The loss is eaten up as a CODB, its nothing different then assigning a share to anything else we give today. We are not earning profit from it, but it may help us out in the future.

That is exactly why I never started such a site myself, totally regardless of crypto vs fiat.

I figured what would happen would be people would keep it secret because they like the fact we keep trying to drum up business by in effect giving away stuff cheaper than what we paid for the stuff.

There is no incentive for them to tell anyone about it unless maybe someone they care about really likes something we offer that they don't want themselves and also don't want to pick up dirt cheap to give to that other someone as a present next present-giving-occassion.

(Heck they could buy all our stuff dirt cheap then go sell it on ebay at a profit!)

Frankly you strike me as being all about getting a bounty rather than about you running a profitable business which one way or another happens to benefit Devcoin.

If it is not a great enough idea that someone will do it anyway without a bounty maybe it is not a great enough idea to bother doing at all.

Devcoin was originally about rewarding them for great free open source they already did, not bribing people who aren't going to do it or aren't going to do it as free open source into doing something.

Seems like too many people are about creating bounties, preferably for things they themselves can do, instead of about just doing something that needs doing.

This auction site idea seems less and less like something that needs doing.

-MarkM-

I said it before I would be more pleased to get a profitable business up and running! I dont see how it is bribing at all, I dont see how you can correlate that with what I said. You don't seem to get the concept at all. Alot of people im sure buy stuff on quibids and resell it.. why are they still in business? If I was all about the bounty then wouldn't I also be the one to be dumping everything I earn? I told you I never sold any.

Yes people may keep it a secret sure, but its the same with any business at all, if your getting a deal keep it to yourself? Its up to us the admins of devcoin to get the word out, and eventually it will spread (like any other business that works). That seems to be a heck of a better problem then not having a profitable business in the first place is!

LOL now you are saying that its a bad idea because noone would do it without a bounty? cmon Mark get real! so writers should be given no coins then for writing? Lets see if they keep writing for the love of it because "its a good idea".. you want to pay people for open source for good will, but forget that its the business side of things that will help raise the exchange rate, not donations.