The price is constantly dropping. 350k USD as market cap? Three years of work equivalent to 680 Bitcoin?
Unless you make something serious to get DVC known, involving the public, you will continually assist to a deadly decline.
What is more sad, I really believed something good could have been achieved through this project.
But you have failed in getting no-profit organisations involved, using them as traction to the project itself.
You are so busy in rewarding writers, when much more could have been accomplished. Imagine to support any kind of art and humanitarian project, asking receivers to expose the dvc logo. They would be the first to promote the use of dvc, since it would mean more support and value to their coins.
Can you imagine someone receiving devcoin for painting, assisting elderly ones, helping youths in developing countries, etc.? Writing is just a minor aspect.
"Devcoin is an ethically inspired cryptocurrency"
Ethical: 'fair, and just dealing with people...'
DVC will be ethical when it will really strive to give to anybody the same opportunity to be supported in their art, in developing a social project, in expressing their creativity.
Since DVC has limited itself mainly to programmers and writers, that't why it's sinking.
I've just taken the reigns from UTB, and I assure you I'm working to address many of these issues.
A distinction has to be made, though, that devcoins are not a charity, but rather a vessel for encouraging works to be released for the general public good.
Initially devcoins were centered around open source software only - that's where the 'dev' comes from, short for developers. It was eventually realized, however, that the spirit of creative commons licensing was almost identical to the spirit of open source software. eg: "A Creative Commons (CC) license is one of several public copyright licenses that enable the free distribution of an otherwise copyrighted work. A CC license is used when an author wants to give people the right to share, use, and build upon a work that they have created."
If people were willing to give others the right to share, use and build upon their writing, art, music the same way that open source developers do, then it is reasonable to include those under our umbrella. This is different to one-to-one charity work, because of the scale. OS/CC helps everyone on Earth equally, whether they make use of it or not, and that will remain the focus of devcoins (seriously, it's huge as it is). So far we've got a basic system of OS development support, and now have writing support. Aural and Visual support will be implemented over the coming year or two.
Ultimately, devcoins, just like bitcoins, only have a value the free market attribute to it. They're both just secure distributed ledgers at heart, with different generation algorithms. Anyone can completely ignore the dvc/btc price and simply code/write for the public good, and get devcoins for it, and they could be worthless. Some people actually do that, and don't care about the price. The free market decides the price for that free to share and reuse work, and even at the current price, it has decided that it's not worthless. While there are tricks we can perform to increase the attractiveness of the coin to speculators, they're all counter-productive to our actual mission: proliferating open source development and arts under creative commons licensing. It's not a problem with writers earning too much, because if devtome had never existed, there would have just been more OS software being released through bounties and that would still have driven the price down. It's a transaction coin, not a value storage coin. The transaction is between people doing work (earning shares), and the general public who like what they do for the greater good, and pay them for it by buying dvc. Understand this, and you'll understand the devcoin price; any big price rise/fall are part of a pump/dump that the administrators have no control over, although the benefit it brings is that we have a greater output of work during that time. There is still potential for massive wide-scale adoption of devcoins as a transaction coin, but even if that was the case, it absolutely won't guarantee a higher price, only more transactions (and likely more people getting paid for os/cc work with a cryptocurrency).
My work over the next few months is rebalancing the OS/CC output, so it's not just 100% writing and nothing else. The actual value writers, developers, and artists place on the devcoins they receive are entirely up to them. The administration can only provide the rules for earning
devcoins, not the rules for when people should or shouldn't buy devcoins with btc on the free market. That is completely out of our control. Granted, with more eyes on the project the more likely investment will come, but that will always simply increase production output rather than increase the price over time. The project will always provide the cheapest way of adding content to the OS/CC cloud of work out there, and that's our huge value to the world. The only people who should be buying devcoins long term, are those who wish to see more open source code and creative commons art released. Speculation on the price is still possible, and even welcome, but people have to understand devcoins are fundamentally different to bitcoins in this way. It's not a value due to scarcity coin, but a create more os and cc coin. Any money you put in, will be converted into open source or creative commons work.
It will trend towards zero but will never hit it; the production of os/cc work (shares) is self-managed by the earners themselves. Less work gets done the lower the price is, and there are always people who do it just because they love it (and don't need the money).
Pump and dump schemes are largely out of our control. When the price goes up, the number of earners we get increases and drives it down.
There's a distortion in that chart, by the way, that you need to consider. BTC has gone up 5-10 fold during that time period too. You should be looking at a dvc/usd chart:
http://dvcusdchart.blisteringdevelopers.com/dailyIf 1 btc was worth $120 today, which is what it was a year ago, 1 dvc would be worth about 40 satoshis right now, so only 10% down over the year.
