[DVC]DevCoin - Official Thread - Moderated

[dalamar96]

Hi a DevTome question for a change

Are there any Policy documents on DevTome explaining what can and cannot be published there?

Thanks

On a different note a way of finding people that will take DevCoin as payment for services (ie a plumber or choose your own example ) would be useful.

A good way to get this in the hands of the smaller businesses would be to have a way to do something like Square or Paypal with the credit card reader that will accept DevCoin *Like the Android Client* but will also allow them to either immediately or at thier whim exchange to USD *coinbase* etc.

[markm]

BTW I am writing something up... so atleast I am dedicated enough to trying to do something instead of trying to "recycle" coins for a profit? Which one do you think is more beneficial to the project in the long run? I thought you were a programmer, atleast your a source admin, yet you can't even review my code to ensure everything is working properly? Or run the latest software to test the boundary conditions? Right, you don't have time for that, just like you didn't have time to update the source to 0.8.5 before.

I have been working for years on the Galactic Milieu project, but it doesn't get much in the way of bounties, writing about it probably accounts for most of the shares I have managed to get in relation to it. Though the Digitalis Open Transactions Server is also part of it so the small bounty it got as a devcoin exchange (twelve shares, maybe, was that?) is also part of the Galactic Milieu project's share earnings.

The Galactic Milieu will be big too, it is like Crystal Space (or whatever that darn 3d open source RPG is called) combined with Second Life with lots more thrown in too. But that doesn't mean devcoin should throw shares at it over and above what its documentation can earn by being posted to devtome.

Maybe you could write all your business plans, research findings, privacy policies, help pages, user agreements and so on and so on on devtome to earn enough to buy a script license?

The Open Transactions server has taken years and we still do not have clients for grandmas to make it easy for people to use it yet it is only worth that initial few shares bounty and the one share per round I get as a developer working on Open Transactions. (Though maybe my developer share might equally well be intended to be for my other development work on various coins and such too or instead? Cannot remember the details.)

So sure go ahead and start an auction site and try to get it done before the bounties for starting devcoin businesses have all been snapped up.

Or maybe if auction sites are a super-big deal another round of bounties could be done, six shares for first auctions site, five for second, four for third etc or something, but that will make more sense once a free open source auctions system is available so people going for the bounty will have code they can use to run their sites.

-MarkM-

[Bittzy78]

novacadian, that is a sweet idea! In fact I thought I would give it a try for you. There is no need for a web sight down in the islands. You can do it on any forum. This one or the new forum that is getting underway if no one has any objections. If anyone does then I will try to figure out somewhere else that payment hashes can be posted.

What I have in mind is this....

Each ticket on the raffle is 100,000 devcoins. You will send me that amount and the hash of that payment will be assigned a number. First payment I will make number 1, the second payment will be number 2. You get the idea. Every time someone buys a ticket I will post it to the forum so there is no funny business. You will see the number and the hash so you will know it is your ticket. You will also know how many tickets have been purchased and the payoff to expect. At the end of the week I will make a draw using a random number generator or maybe something more random and totally out of my control in case there are doubters in the crowd. Hmmm.... let me think on that. I will also make a wallet for this express purpose so there is no confusion. Anyone sending 100,000 devcoins to that wallet will get a ticket on the raffle. When the winner is picked I will send half of the devcoins collected to the winner. I will buy more devcoins with the other half at the going rate to steady the market. I will post the wallet hash once it is created and we can get this baby up and running.

PS. Just shout out if you don't want the postings to go to new forum and I will find somewhere else where I will just post the hash payments and leave the link where everyone can find it.

Stay tuned for the devcoin raffle!!!!!!!

This is idea sounds interesting but the 100,000 amount is  a little high for a chance at Devcoins. If the price goes back up to the 0.00000150 range, you are talking about roughly 15% of a Bitcoin to buy ONE raffle ticket. Maybe it should be in the 10,000 range.

Also..

Why not just have 1st, 2nd and 3rd places prizes and given the majority of the Devcoins collected to the participants?

Bittzy78

[dalamar96]

Meh, I think 100k is good, if you make it 10k then those with 10-50mill will just get the raffles every time.  Just my 2 cents.

[dalamar96]

roflmao, I just saw a Quibids commercial on TV Just sayin...

[markm]

How much does such a commercial cost?

Cost of customer aquisition compared to average money gained from each customer is a big thing, an analysis of such things is probably a big part of any reasonable business-plan.

-MarkM-

[dalamar96]

How much does such a commercial cost?

Cost of customer aquisition comapred to average money gaiend from each customer is a big thing, an analysis of such things is probably a big part of any reasonable business-plan.

-MarkM-

"A sharp, catchy TV spot can easily cost anywhere from $100,000 or more to produce" Then it can cost anywhere from 250-3000$ / spot to show it on cable during prime time depending on he channel, time and what shows are being shown etc.

Chad

[Unthinkingbit]

..
Are you talking about incorporating Devtome so that income can be reported? It would be difficult to do it otherwise.

Neither devtome nor devcoin will be incorporated. Any ventures which need incorporation would be separate organizations.

[novacadian]

novacadian, that is a sweet idea! In fact I thought I would give it a try for you.

With my blessings Raffleman.

- Nova

[smeagol]

How should I factor Devtome income into my tax return?

According to Forbes, cryptocurrency income is taxable!

[Bittzy78]

..
Are you talking about incorporating Devtome so that income can be reported? It would be difficult to do it otherwise.

Neither devtome nor devcoin will be incorporated. Any ventures which need incorporation would be separate organizations.

Ok, thanks. I was thinking that neither could be incorporated but wasn't sure.

[Bittzy78]

How should I factor Devtome income into my tax return?

According to Forbes, cryptocurrency income is taxable!

I just read through that article that you are referencing. There are people pumping out these altcoins with reckless abandon and most are not even featured on exchanges. I would be shocked if any government could even nail down a value on Devcoin for taxing purposes. I think the taxing occurs when you exchange them for Bitcoin and they end up in a bank account as fiat currency. I mean seriously, how can you say that something has real tangiable value if there isn't a single place in the world that will pay you money for them.  Bitcoin is a tiger of different stripes, there are many places to turn Bitcoin into fiat currency.

Since Devcoins are being given to us for our work, you simply need to put a cost basis of 0.00 on your tax forms.

~ Ninja edit #2 ~

I could be wrong on this but there is no way any government could say that the exchange sites that we use (such as crypsy) are real exchange sites. They could just as easily be gone tomorrow as they are operating today. The sites themselves might incur tax obligations but seriously, they provide no hard terms, no real security, no real recourse for grievances and most are not licensed money exchangers. They are simply non-entities from a governmental perspective. All trade records on these exchanges are pretty much worthless for filing taxes.

http://www.forbes.com/sites/cameronkeng/2013/12/16/bitcoin-is-not-anonymous-is-always-taxable/

~ 2 cents and not tax advice ~

[novacadian]

How should I factor Devtome income into my tax return?

According to Forbes, cryptocurrency income is taxable!

Once you withdraw currency from an exchange into government cash it would be taxable, by my understanding of my county's tax, as capital gains. You would be wise to then keep a record of how much you purchased the coins for and how much you sold them. The difference would be tax-able. In my country you are permitted something like $100K capital gain tax free. Your first time home, if sold, is also considered capital gains tax free. These rules would vary from jurisdiction to jurisdiction no doubt.

A record system of buys and sells would make for a great open source project. Something many of us will need in the future. My approach is to keep crypo as just that until there is need of it in the future. That would be very much like having a stock that pays no dividends. One cannot be taxed on it until you sell it. At that time it is considered capital gains.

My advice is to consult an accountant in your local jurisdiction. Consider my remarks as hearsay.

- Nova

[emfox]

hello,

recently, some idiots in some Chinese forums said that, devcoin is a black-hearted coin that 90% of the coins goes to DEVELOPERS OF THE COINS, and this kind of expression of opinion spread very fast, thus now many Chinese coin investors beleive that devcoin is non-sense and rubbish. they are poor in English, and have no patient to deeply understand the truth.

I'm considering to lauch a promotion activity and change people's view of devcoin, like, first I'll start a call for articles of "Devcoin and I", let people write article about devcoin, then I give some devcoins of my self to them as bounties. There will be later activites.

Can I have statement that, these activites I hold was approved by, and  represented official devcoin develop team? what about your opinion, Unthinkingbit? and our admins?

[Unthinkingbit]

..
Can I have statement that, these activites I hold was approved by, and  represented official devcoin develop team? what about your opinion, Unthinkingbit? and our admins?

I'm for it! For the PR work, people should ask Psybits' for shares, which are on top of devtome payments for writing.

[markm]

I have said before that trying to explain that Devcoins are for developers seems to have been full of pitfalls.

Are they even reading stuff that says Devcoins are for developers of free open source art, music, writing, hardware and software or something like that as meaning it is for the developers of the coin?

Maybe developer(s) is just a bad word to be using anywhere in promotions since people will likely repeat that word leaving out all the details as to "developers of what" ?

On the other hand I would not put it past trolls to deliberately try to stir up such miss-understandings.

The next step anyway for the naysayers would be to say that regardless of who the coins ultimately go to it is decided by an elite group (like the Freicoin's foundation for example to point to a situations some have seen as quite similar).

-MarkM-

[bit-fxtrader]

which of the 3 windows clients here do you guys use? http://www.devtome.com/doku.php?id=how_to_get_setup_earning_devcoins_by_writing

[emfox]

..
Can I have statement that, these activites I hold was approved by, and  represented official devcoin develop team? what about your opinion, Unthinkingbit? and our admins?

I'm for it! For the PR work, people should ask Psybits' for shares, which are on top of devtome payments for writing.

Thanks.

So I apply for some shares to be as the bounties sending to the best article writers. Psybit, is 5 or 6 shares appropriate? The more shares, I'll set more bounties and  more later activities.

[ThinkI]

How should I factor Devtome income into my tax return?

According to Forbes, cryptocurrency income is taxable!

Once you withdraw currency from an exchange into government cash it would be taxable, by my understanding of my county's tax, as capital gains. You would be wise to then keep a record of how much you purchased the coins for and how much you sold them.

...

- Nova

Look up the tax handling for LETS in your area. LETS is a pre-digital versions of an alternative currency. Its been around a long time so the tax man has already tried to take as much as he can.
See:
http://en.wikipedia.org/wiki/Local_exchange_trading_system
http://www.letslinkuk.net/home/theory.htm
For info on LETS.

Its highly likely that the tax man will look on Crypto-currencies in a similar way to start with.

Of course this is not TAX advice just my opinion.

[ThinkI]

Maybe developer(s) is just a bad word to be using anywhere in promotions since people will likely repeat that word leaving out all the details as to "developers of what" ?
...

-MarkM-

I agree with MarkM the term 'developer' has all the wrong associations in the averages Joe's mind. Joe does not see Joe as a developer and probably never will.
The word 'developer' was a put off for me when I first came across DevCoin. With so many to investigate it knocked DevCoin down to the bottom of the list.

The problem is creative people use different titles in different areas and they all have negatives in Joe's mind.

Creator has a nice ring to it though. Sounds like we are all Gods

ThinkI