[DVC]DevCoin - Official Thread - Moderated

[weisoq]

Not really because that assumes every new Devcoin generated is immediately sold at market, whatever the price. Like all exchange it comes down to the value placed on the effort to acquire a tradable thing vs. that of something else. As 90% of Devcoins are earned through non-hashing it then becomes about the implied value of the service performed or goods produced to acquire them and perceptions of longer term value. Volume and velocity obviously help though.

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[sidhujag]

Is it still true that we have about 7.2 million new devcoin being created every day? This will never change since devcoin doesn't have blockhalving etc, right?

So to keep the price at 10 satoshi we need a buying power of 0.72 BTC every day to compensate for the selling pressure.

This also means that to keep the price at 100 satoshi we would need 7.2 BTC, etc...

In general yes... I always think in worsed case too... so we need atleast 1 btc buying everyday. However with new services we implement we may increase buying power exponentialyl as speculators start to come in when we have actual business/services providing a valuable community service as well as providing income.

[georgem]

Yes, I agree with you guys. It was just a thought experiment.

It is possible that devcoin reaches a high pricelevel without big trading volume (no more dumping, many people holding the coin longterm)
and it's also possible that devcoin has a low pricelevel with large trading volume. (everybody basically just trying to get rid of the "hot potato" nobody wants)

And all other combinations are also possible:
higher pricelevel + big volume. (mania, devcoin recognized as big player.)
lower pricelevel + low volume (worst case, no activity, except us   ... basically what we have now.)

[RodrigoHenrik]

Devcoin still alive?

Devcoin still alive? What are the exchanges which transact Devcoin? There are still many users by mining? How is the interest of people for coin?

[Nik1ab]

Devcoin still alive?

Devcoin still alive? What are the exchanges which transact Devcoin? There are still many users by mining? How is the interest of people for coin?

I really hope it stays alive. I think Devcoin has enormous potential compared to other coins.

[weisoq]

Yes, into fourth year now

Bold doesn't make a message any more or less valid mate, but as you asked:

Network one of the most secure.
Earning info here
Progress ongoing:
https://www.cryptsy.com/
https://vircurex.com/
https://crypto-trade.com/
https://bter.com/
https://mcxnow.com/

Could do better? Of course, but this one's for the long run. It's about human work so it's what people make of it.

[sidhujag]

Devcoin still alive?

Devcoin still alive? What are the exchanges which transact Devcoin? There are still many users by mining? How is the interest of people for coin?

I really hope it stays alive. I think Devcoin has enormous potential compared to other coins.

I am excited to announce that devcoinauctions.com is now using an innovative web technology (realtime.co) which uses websockets to optimize user experience by allowing bidirectional communication between client and server. Now if you open up the debug window in your browser there is no more ajax calls to the backend to update your screen.. now data is pushed to the clients that need updating based on which auctions just got bid on... its more efficient by a mile. The server should be able to handle 10k users at once.

[georgem]

I don't understand some people. No one would point at a four year old child and say: "is it still alive?"

Do you judge a toddler for not being able to walk yet? Oh look, it can't walk yet, why is it still alive?

All cryptocurrencies are so young, they have barely broken up the eggshell...

...must be the daytrader mentality that makes people think a week is as long as a year!  

"Why doesn't the price rise 20x again? Why no movement? Is it dead? Is it still alive?"

[sidhujag]

Those ppl wont make any money they are impatient

[georgem]

Those ppl wont make any money they are impatient

Patience is key.

There is nothing like the price increase coming from a wider adoptionrate...

Everything else is daytrader masturbation, nothing I want to involve myself in.

[Vlad2Vlad]

Why is Devcoin going up on heavy volume?  I'm seeing people say it's from wonder adoption rate but I doubt that would be such a sudden thing. 

Has any news coming out or is something big supposed to be announced?


Thank you!

[georgem]

Since all the sudden volume is coming from vircurex alone, I am not so sure what to think of it.

http://coinmarketcap.com/volume.html#dvc

I thought vircurex was near dead, they still owe a lot of people litecoins etc... still a lot of frozen accounts there.

So I would be surprised if this isn't just a little market manipulation.

The big devcoin price swing we had a few months ago was ALSO mostly vircurex.
It has always been the exchange with the most devcoin volume.

[Arbitrageur]

it's vircurex, today there have been anomaly volumes, someone paying up 100% premium and over on ppc, dvc, nmc (even 3x here), and ltc. don't know what to say, btc withdrawals seems to be working, so it's not people getting rid of stuck btc due to problems with withdrawals. yes there are still 5000 btc equivalent frozen (mostly of which on ltc) on vircurex. be careful. I lost a ton in there back in march (over 40 btc equivalent).

[weisoq]

Patience is key.

There is nothing like the price increase coming from a wider adoptionrate...

Precisely. The vircurex thing is odd though - before the problems there bid volume was about 50btc and liquidity problem hammered pricing. As arbitrageur says someone's just lifting offers across all the older coins, as if holdings are unfrozen, but I haven't read anything about them unfreezing assets?

[georgem]

... as if holdings are unfrozen, but I haven't read anything about them unfreezing assets?

Me neither, I just logged in to check if something changed, and it still says: "Your account has frozen funds"

Last (unrelated) announcement by vircurex was on 11th june.

[Vlad2Vlad]

But why would anyone bid double or triple when they can buy for much cheaper on other exchange, like Cryptsy?

And of the same thing is happening for NameCoin, PPC, etc then what gives?

And why isn't anyone then bidding up other older merge mined coins like i0Coin and iXcoin?


Very odd.

[Arbitrageur]

utterly odd, I wrote to customer support, no answer (as usual). I forgot to mention dogecoin, that was paid up pretty well too.

[Hunterbunter]

Patience is key.

There is nothing like the price increase coming from a wider adoptionrate...

Precisely. The vircurex thing is odd though - before the problems there bid volume was about 50btc and liquidity problem hammered pricing. As arbitrageur says someone's just lifting offers across all the older coins, as if holdings are unfrozen, but I haven't read anything about them unfreezing assets?

The only rational explanation for the volume on vircurex is that they are freshly deposited coins. You can't trade with frozen funds.

As to why...it could be someone just decided to start investing a ton of money in alt-coins, with or without the intention of selling them back on cryptsy as others become interested and start speculating. There's been very little down pressure on those coins lately, so they may have had enough waiting.

[Vlad2Vlad]

Patience is key.

There is nothing like the price increase coming from a wider adoptionrate...

Precisely. The vircurex thing is odd though - before the problems there bid volume was about 50btc and liquidity problem hammered pricing. As arbitrageur says someone's just lifting offers across all the older coins, as if holdings are unfrozen, but I haven't read anything about them unfreezing assets?

The only rational explanation for the volume on vircurex is that they are freshly deposited coins. You can't trade with frozen funds.

As to why...it could be someone just decided to start investing a ton of money in alt-coins, with or without the intention of selling them back on cryptsy as others become interested and start speculating. There's been very little down pressure on those coins lately, so they may have had enough waiting.

Ok, so why pay double or triple?

Is it that hard to open an account on other exchanges or are Vircurex customers so loyal to vircurex after having all their funds frozen?

[Hunterbunter]

Patience is key.

There is nothing like the price increase coming from a wider adoptionrate...

Precisely. The vircurex thing is odd though - before the problems there bid volume was about 50btc and liquidity problem hammered pricing. As arbitrageur says someone's just lifting offers across all the older coins, as if holdings are unfrozen, but I haven't read anything about them unfreezing assets?

The only rational explanation for the volume on vircurex is that they are freshly deposited coins. You can't trade with frozen funds.

As to why...it could be someone just decided to start investing a ton of money in alt-coins, with or without the intention of selling them back on cryptsy as others become interested and start speculating. There's been very little down pressure on those coins lately, so they may have had enough waiting.

Ok, so why pay double or triple?

Is it that hard to open an account on other exchanges or are Vircurex customers so loyal to vircurex after having all their funds frozen?

Yeah, that's a good question. It's possible vircurex is doing it themselves to drum up volume, but any other normal trader would surely buy from all exchanges simultaneously (as we have seen in the past). Certainly fishy.