Devcoin

[jasinlee]

Its a video game with in game companies, they have contracts and such for those in game alliances and you may equate it I guess to eve online. Except the currency has a direct outlet outside the game unlike eve online. The in game companies took out loans on several of the less commonly used coins and devcoin which are nigh impossible to repay due to interest.

I'm sorry, I'm still really in the dark.  I've never heard of EVE online, I didn't even know there was a game called eve so you can see this is all completely new.

So I still don't understand.  These companies which sound like well backed and maybe in a few cases with millions of dollars in cash, took out devcoin loans and they're paying interest as well?  does anybody have any idea about the total number of coins which have been lent out?  100 million?  4 billion devcoins?  just a rough idea.

and what do you mean by "nigh" impossible to repay due to interest?  Not impossible you mean?  Well, why can't devcoin enforce the contract, why can't they force them to repay the devcoins by forcing them to go on the open market and buying the coins?  There must be a solution where these companies have to somehow repay the devcoins they borrowed, either via a straight purchase of devcoins and delivering them or and outright cash offering or other assets which then devcoin management can use to buy back devcoins on the open market and retire those coins in order to add value to the remaining devcoins.

Thanks for your response - although I'm still confused about the entire matter and especially what potential outcomes can legally and realistically come from this large outstanding devcoin debt.  The latter is the most important part.  This i'm sure is a first time thing in the world.  Cause I've never even heard of anything like it - for so many virtual coins to be owed to one company by so many gamers, developers and game owners. 

How does something like this play out, legally? 

What options to the debtors have to satisfy their devcoin debts and what timeframe, how much time to they have to resolve their debts?  TIA

Its a video game, there are no legalities, this was all done before devcoin or other coins truly had value. They used a system like ripple to trade the debt, there were not any actual devcoins (except for a small fraction) actually taken/borrowed.

[Vlad2Vlad]

well that means there's no way for devcoin to ever get their debt repaid.  No legal way.

so then it doesn't even matter that there's say 5 billion devcoins out there on loan.

I wonder what legal options devcoin would have given its coins are not legally monetized.

very confusing.

[Vlad2Vlad]

Anybody know how many hours of logged in time one needs for the next level up from Jr. to 3 coins?  I'm at nearly 19 hours now.  I know to go from one coin to Jr. status so you can post is like 5 or 6 posts and 4 hours.  It's pretty hard to gain hours.  Very smart system they have in place - as soon as you stop surfing the site the clock stops.  I've never seen anything so accurate.  smart.

[jasinlee]

Anybody know how many hours of logged in time one needs for the next level up from Jr. to 3 coins?  I'm at nearly 19 hours now.  I know to go from one coin to Jr. status so you can post is like 5 or 6 posts and 4 hours.  It's pretty hard to gain hours.  Very smart system they have in place - as soon as you stop surfing the site the clock stops.  I've never seen anything so accurate.  smart.

Dont take it to mean you should trust anyone, it means practically nothing and you can get 4 coins immediately by donating (thats what that little colored mark means) and lots of people scam, get a scammer tag, make a new account and then donate the next day and get 4 coins again. Dont trust it, just figure everyone is a scammer and use escrow to keep yourself safe.

[Vlad2Vlad]

Anybody know how many hours of logged in time one needs for the next level up from Jr. to 3 coins?  I'm at nearly 19 hours now.  I know to go from one coin to Jr. status so you can post is like 5 or 6 posts and 4 hours.  It's pretty hard to gain hours.  Very smart system they have in place - as soon as you stop surfing the site the clock stops.  I've never seen anything so accurate.  smart.

Dont take it to mean you should trust anyone, it means practically nothing and you can get 4 coins immediately by donating (thats what that little colored mark means) and lots of people scam, get a scammer tag, make a new account and then donate the next day and get 4 coins again. Dont trust it, just figure everyone is a scammer and use escrow to keep yourself safe.

Jaisn,

I'm not sure what you're referring to.  you have like 4 coins below your name which shows how long you've been here and it also gives you priviledges like where you can post and to upload a picture to your avatar.  I can't do any of those things cause I'm new, I've only been on this site for about 2 weeks so my total login time is almost 19 hours and I have 61 posts.

so my question was how many posts and hours does one need to go to the next level up which i'm guess is the 3 coin level since I'm now a 2 coin Jr level.

Cause I would like to at least add a picture to my avatar and to be able to upload pics and diagrams to the papers I write and post on devtome.  I'm also not sure what you mean by donating 4 coins?  I'd gladly donate 4 coins to get upgraded.  And who commits fraud and goes through the touble of creating a new ID for a mere 4 devcoins?  That's bizzare.

[Unthinkingbit]

..
Wait a second, am I understanding this right?  We haven't received our round 23 coins yet because of 1 guy whose computer or wallet got hacked?

The round 23 coins are going out at block 92,000. The only thing that is changing is that the receiver files will be generated later than usual. The delay from block 89,000 to 89,800 was in part because several people had to change from the devda wallet to a wallet on their computer. The extra delay from 89,800 to 90,100 is because of the hacking, even with that delay we'll still have 6 days to upload the files, which is enough.

[Vlad2Vlad]

On a side note, I wish python was smart enough or programmed to count relevant quality words posted on these devcoin threads.  Sometimes I get caught up in a conversation or get too involved while writing a post and have numerous times posted huge posts  - some probably close to 700 or maybe even more words.  Even though some are relevant posts and in regards to devcoins and digital currencies in general, it feels petty of me to copy and paste these large posts into devtome for share credit.

I feel so fortunate to have stumbled on this opportunity which I consider still an early enough (just barely, I bet not long ago 1 share for writing was 1 million coins or more) time that I wouldn't want to abuse the trust I'm given and lose the priviledge of this great new way to earn digital coins, at a time when mining has become so difficult.  So I do my best to post relevant or at least interesting and new stuff on devtome, stuff that I feel a diverse number of Americans (and foreigners as well) would at least find interesting or educational to read.

Never before has a person been able to get paid something of real value by doing something as easy as mining from your computer or earning real coins with real potential value for doing something which is basically an everyday thing.  I truly feel this devcoin thing is the beginning of something new and great which will change many things in the near future all around the world.  And the way product life cycles have evolved, this change, which 50 years ago would have taken 2 to 4 decades will now take one-tenth the time.  It's just the natural progression of the way business cycles and products have changed and evolved which is why you can now become very rich by investing in the right company like facebook or google for example.  

Had you been able to get in early, you would have made in 5 years what took an investor 40 years a few decades to earn simply because of the nature of the way everything is done has changed - it has moved from very mechanical and material (brick and mortar stores built one one) to very streamlined and virtual (amazon with 1 virtual storefront can reach the entire planet which took a fraction of the time to build compared to all the walmarts for example) and now with digital currencies, this is the next (and I believe the final) stage where value can be created nearly instantly as there is nothing to be truly built - just an image of a coin and the perception of value which the marketing guys will figure out how to create the next great coin and package it and sell it as an investment to wallstreet.  this is why I think the billionaire VC put $5 million into coinbase - he wants a headstart and what better way to make money than to be the nasdaq of digital coins.  

Trading nothing but numbers, imaginary coins.  It sounds so good that it's almost a scheme, too good to be true but it's not, it's real and now that it's out the business model will be perfected and rolled out to the masses in the next 6-12 months.  And I believe besides the VC's, banks and retailers giving these coins credibility, I think the biggest move which will get the masses jumping on board will be the government passing some kind of bill which will endorse, back and support the release, growth and distribution of digital currencies and that's when you'll get what I call the crypto (currency) revolution and hundreds of new currencies will appear on the market nearly overnight and these new, early movers will gain the most as too many people will not be able to wait for new currencies in fear they'll miss the next great one (greed) so they'll all rush to buy every digital coin there is and it doesn't take a lot of investors buying just a couple thousand dollars per person to make every existing currency today worth much much more.  And my feeling is all of this will begin to happen in a big way in the next 12 months which doesn't leave many of us newbies a lot of time to find a way to accumulate as much of the various currencies out there in some meaningful amount.  Mining used to be the best way but now is nearly impossible so I'm very grateful to have ran across devtome.  

Good luck to all the fortunate early visionaries!

regards,

Vlad

[Vlad2Vlad]

..
Wait a second, am I understanding this right?  We haven't received our round 23 coins yet because of 1 guy whose computer or wallet got hacked?

The round 23 coins are going out at block 92,000. The only thing that is changing is that the receiver files will be generated later than usual. The delay from block 89,000 to 89,800 was in part because several people had to change from the devda wallet to a wallet on their computer. The extra delay from 89,800 to 90,100 is because of the hacking, even with that delay we'll still have 6 days to upload the files, which is enough.

Thanks for the explanation, that makes sense and it's more than fair.

When does round 24 end as far as posting articles, marketing links, etc?  I first thought it was a date or timeframe calendar thing but now I get the feeling everything, including the last day of each round is dicated by a certain block number?  I want to know just so I can accurately time my work so I'm not left with a ton of things to do at the last moment.  Thanks.

[jasinlee]

Vlad your misunderstanding. Those donations are in bitcoins on this forum since it is the bitcointalk forums.

[Vlad2Vlad]

Vlad your misunderstanding. Those donations are in bitcoins on this forum since it is the bitcointalk forums.

Wow, now 4 coins, bitcoins, now that buys you a ton of devcoins.


So what does one have to do to get a 4 bitcoin donation (I've never gotten a donation of any kind, but nor have I given any to anyone) or are you saying people are giving them, donating them in order to jump up in ranking quicker?  Thanks for the explanation.

[jasinlee]

I meant 5 coins not 4, my bad. That is correct, to jump rank.

[Vlad2Vlad]

Are the devcoin team here Brits?  Cause I noticed they have quick response times at such late hours of the night (which is the only time I can get any writing done) and that's a bit odd unless they're just working 18 hour days or rotating but it seems most of them are up at even 5am so I'm wondering if maybe they're in the UK.  I just assumed devcoin was American like Bitcoin and the other coins I've looked into.

Kinda odd the bitcoin inventors/founders are billionaires and still no pictures, no interviews, no real life nothing.  I find that so peculiar, first time I've seen successful billionaires in my life which are anonymous.  and no, some name on the internets is nothing, that's anonymous.  Makes one wonder what is going on since that's just not a normal human characteristic and has never happened in the history of the world.  Successful people, especially billionaires want to bask in all their glory and even if they're shy the media finds them and gets them to talk.

but these bitcoin guys, there's two of them supposedly, 2 shy anynymous billionaires.  Interesting indeed.

[Vlad2Vlad]

I meant 5 coins not 4, my bad. That is correct, to jump rank.

So people were paying $500 to $1,000 to jump rank?  wow.  why?  I mean it's nice but you don't really get anything.  And so how were they scammers, I mean they were giving money away so why then open up new email accounts?  Unless you're saying scammers were approaching newbies with new email addresses pretentding to be moderators in order to get the 5 bitcoins and then open a new account and scam a few more people.  At $120 a coin that's a good living.  And for people who mined those coins not long ago when they were finding even 20 coins per day that's not a big deal.

I read one guy forgot his computer turned on in his garage mining away for the last 3 years and when bitcoin blew up he went and checked it and he had 111,000 bitcoins.  can you imagine, a bitcoin then was $250, that's like waking up and realizing you have $25,000,000 sitting on your computer.  imagine how many guys had tons of bitcoins but erased their drives to make room for porn or gave their laptops away not even caring or thinking about it.  I bet therres some truly tragic stories out there these guys will be telling the rest of their lives.

I'm hoping we're not too late.   I'm hoping we're still in phase 1 or more like 1.5, where awareness is still truly in its infancy.  I don't think even 1% of Americans whom are well informed know, I mean truly know and understand what digital currency is.  The few that think they know have simply heard of bitcoin but they don't have any idea how to get them or that there's others or that they're here to stay or what it means for the future.  totally clueless which is when you want to get in on any new business idea but often the timing is the hardest part and for once, the first time ever, I may, just may be in the right place at the right time.  I've missed 3 huge lifetime opportunities because they came when I wasn't ready or I just didn't see it due to inexperience.

well, at the rate at which things are now changing and growing it won't be long before we find out one way or another.

I have a question for MarkM or any other digital coin programmer. but i'll post it in a new post.

[jasinlee]

I am in florida, but we are all over the place. I often have meetings with people in spain or other countries so I keep odd hours.

[Unthinkingbit]

..
When does round 24 end as far as posting articles, marketing links, etc?

Block 93,300.

Edit: earlier I wrote 95,300, but that was wrong. The correct number is 93,300, 4,000(round - 1) + 1,300.

Kinda odd the bitcoin inventors/founders are billionaires and still no pictures, no interviews, no real life nothing.

It makes sense to be anonymous when you're doing anything in competition with banks. For example, Michael Burry, infamous for his 'Big Short' into the subprime crash, later asked a broad swath of politicians, economists, and professional 'seers' why they didn't see 'It' coming? Soon after asking that uncomfortable question, he got multiple IRS audits:
http://www.zerohedge.com/news/2013-05-16/what-happens-when-you-ask-too-many-or-wrong-questions

[Vlad2Vlad]

to:  MarkM or any seriously good Programmer

MarkM, you said you were hired to code for devcoin.  To me this means you've got to be good otherwise every first year programming student would be putting out their own currency right now.

so my question is this.  Since I know very little about programming ( I only took 1 computer class in college) I cannot grasp how difficult it is to create and launch a new currency is.

for example I have a good idea that it's very very hard even with billions of dollars to put out a competing and new operating system.  It takes a true genius and it happens once per generation which is why gates bought DOS and in 4 decades there's nothing really new except maybe now android (and the variations of Linux).

With each new industry once demand spikes it creates obscene profits which brings in a lot of new competition out of which most go out of business and then pfofit normalize.  this happened in the auto industry where at one point there were over 100 auto manufacturers and the dot com boom where thousands of dot com companies came, made huge salaries and went under and once a couple more coins go boom and demand really spikes and the currently supply won't bre enough that will bring in lots of new talent to try and cash in on this demand for digital coins.

so my question is, how difficult is it?  FAcebook wasn't hard to create it was just a good idea at the right time so to me that wasn't a genius programmer just a very good programmer at the right time with the right idea.

so by comparison, how difficult is it for a very good programmer or does it take 3 or 30 to create a new currency like a bitcoin and then to also launch it? Can one good programmer do it out of his garage in  a few months and also launch it with the hopes it will take off or is that impossible?  I have no idea how many lines of code we're talking about, so the workload itself - is it simple or massive, and then is there any difficulty in the actual creation of a new currency or is that also an easy thing to copy?  and the launching of a new currency - do you just announce it on some blogs and release the code or blocks into the wild and hope you get lucky or is there a lot of programming and work to do there?

Again, I'm not asking what it takes to get a successful currency, that's very difficult cause it has to do with factors you cannot predict nor control, I'm just referring to the actual creation of a new currency and launching of it.  that gives me a good idea as to the number of new currencies to expect on the market as soon as awareness goes up as a result of some unexpected event.

thanks for the feedback.

regards,

vlad

[Vlad2Vlad]

..
When does round 24 end as far as posting articles, marketing links, etc?

Block 95,300.

Kinda odd the bitcoin inventors/founders are billionaires and still no pictures, no interviews, no real life nothing.

It makes sense to be anonymous when you're doing anything in competition with banks. For example, Michael Burry, infamous for his 'Big Short' into the subprime crash, later asked a broad swath of politicians, economists, and professional 'seers' why they didn't see 'It' coming? Soon after asking that uncomfortable question, he got multiple IRS audits:
http://www.zerohedge.com/news/2013-05-16/what-happens-when-you-ask-too-many-or-wrong-questions

Oh, it's a fact the IRS is used as a political tool.  Most if not all conservative talk show hosts get audited by the IRS to the point of harassment.

But let's be real.  The IRS is gonna find you cause you gotta pay taxes, and they have your names and any bank with even a small budget will find you so you're only hiding from the masses not the big guys like banks and the govt.

but if this digital coup was a govt plan then it makes sense to be anonymous which would then be very easy to predict what will happen next.  This is partly why I think my predictions will come true with good accuracy cause the banks and the govt want digital money to come true but it will never happen unless you, me and everyone on earth first embrace the idea. 

Imagine these guys sitting around a table and asking each other:  How in the world are we gonna get the masses to accept a virtual currency, something invisible for real hard cash in their hands?  How are we gonna get the masses to give up on the freedom that comes with hard money as opposed to a digital one?  The obvious answer that pops to my mind is:  Well, we'll give it away.  In the end it won't matter as we'll adjust the real value and so what if a few hundred or a few thousand new millionaires are made in the beginning?  We'll give it away, make it so anyone can get it for free and create such a mass frenzy that people will go crazy for virtual money so much so that they'll see paper money as worthless, which is actually is.

and if I'm right they're gonna create a massive media blitz to pump these currencies to the sky and get everyone to want it and love it.

the banks have invested billions in partnerships with each other and with tech giants like google, apple and Microsoft to get NFC to be mass accepted.  At one point they were giving the terminals for free to retail stores to get the network ready and most smartphones now are NFC ready and apple will put the final nail in the coffin with the next ipohne which will also have biometric fingerprint scanner so people will feel safe putting their money.

So yes, visa, mastercard, CITI and all the banks formed various partnerships because they all want a piece of the easy money that comes from everytime you swipe your NFC phone but lets face it, digital currency is the best way to go for all of them for many reasons, some of which I outlined in one of my papers.

For banks it's a dream cause you'll never hide your money from them again and as well as the govt.  No more tax evasion or overseas accounts.  they can take their money out with their keyboard from anywhere.  You'll never pay anyone ever again without paying taxes so the $2 trillion dollar black markets are gone overnight.

the benefits to banks and govt are endless and retailers also have a lot to gain.  and in some ways it's good for society but it will cost us a lot in privacy loss and freedom loss as the system can be abused by any oppressive govt.  and once everyone accepts digital cash on their phones the next step is something more permanenet and impossible to lose, you can't lose your head.  Microchips from companies like digital angel have been ready for years to store all your medical and financial data.  It even warns you that you may be getting sick if your temperature spikes.

Like it or not that's where it's all going and if i'm right bitcoin was just the dry run by the govt to see what it takes and how people react and now they're getting ready for the next one which will be much bigger.  and this is the one that I think will bring in the masses as awareness will spike like crazy and everyone will want to get rich overnight but there's only gonna be a few currencies to buy so they'll all rush to get their share. 

And if I'm right this will all start happeing, in a big way in the next 6-12 months cause it's gonna become painfully apparent the dollar (and euro) is in serious trouble no more than 2 years from now.  So if you can get the masses to love these new digital currencies in the next 1-2 years then it will be easy to get them to switch to a new currency.  Not because the dollar is worthless, no, because it's easier and safer to have a digital currency.

you think that's crazy?  Think how many people, who know about bitcions today would refuse to turn in their entire dollar bank account for a 1 to 1 swap?  or even a 1/10th to 1 dollar swap.  The govt doesn't care cause it's not real.  Just like it looked like a great deal when they gave people paper money in 1933 in exchange for their all their gold as a new law was passed making owning gold illegal so now they'll make it look like a sweet deal to get some new popular digital money for you dollar cause they know once you accept it there's no going back and unlike the dollar where they have to print it and transport it, with digital money they'll dilute your new money into nothing in 5 seconds with one push of a button.

So these anynymous billionaires aren't hiding from the banks or the govt, they are the govt and phase 2 is coming soon.  If you expect it then you can profit greatly from it, don't ell your currencies at the beginning of the craze even though it's gonna look like a great deal - for the masses to accept toy video game money for their real money the govt along with the banks and the media will have to create a foaming at the mouth craze for digital coins.  I'm so certain about this I just can't prove it but I'm putting my money where my money is.  This is part of the hope and change americans voted for and in a couple years they won't believe what's really happened.  buy now and hold on tight.

good luck.

regards,

vlad

[Vlad2Vlad]

Ok, I'm done chatting, I have to get some work done.  Although it's way more fun to talk about interesting things I've gotta earn some coins since there's only so many I can buy given my very limited unemployed budget.   And although devcoin is my number one pick to be the next big one or one of the very big ones, I have to cover my basis and so some of my budget goes toward buying a few other currencies like IXcoin.  I have to stop checking this thread cause every time I do there's something else I have to ask or say.  So good night to everyone and I'll check your responses to my questions tomorrow when I wake up.

Good luck to everyone!

regards,

Vlad

[Vlad2Vlad]

I am in florida, but we are all over the place. I often have meetings with people in spain or other countries so I keep odd hours.

Man, I said I was gonna stop posting but then I saw your post.

what meetings?  regarding digital currencies?  devcoins?  Sounds interesting.  What's the goal or scope of these meetings?  Are you finding that in Europe the masses are just as clueless so far as far as awareness goes as in the US?  I think it's gonna first blow up here and then spread to Europe so I expect Europeans to actually know less than americans right now.  But I'd be curious to find out what percentage of them really know and not just read or heard something and what they're planning to do or what they're doing in response as a reaction to bitcoin and what will soon be a super bitcoin 2.0.

My guess or estimate is that less than 1% of Americans know about digital currency to the point of answering questions.  So not just, oh yeah, I read or heard something about a coin or bitcoin.  that's not awareness.  Awareness is knowing something material about the subject and as far as that goes I think it's way down, maybe even one-tenth of 1%.  imagine a 100 fold jump in awareness in a country like America where americans from middle class and up are very stock market savvy and most easily have a couple grand for a speculative investment.  if I'm right then a 100 fold jump in awareness only puts us at 10% and that's where I think the inflection point is where these coins go from a fad to a must have and the next great market I can't believe it was there all along and I missed it.  lol....

Ok, I really gotta turn in a decent sized paper tonight and it's already almost 3am.  Man.....these threads are a time killer and I'm only level Jr.  You probably need like 50 hours for the next level.  that or 5 bitcoins and I don't even have 5 litecoins.  I mined for nearly 2 days straight with a dual 7850 GPU $1700 rig and all I got was 1/2 of a litecoin.  lol.

no way man, devcoin and their way of letting everyone earn something is the way to go.  I wouldn't be surprised if my conspiracy theory was correct if they hand picked devcoin as their currency for the masses.  It simply has all the attributes which attract the masses, at least at first, and the fact there's already a few billion coins is actually a good thing.  I mean, why start a new coin when you can just hijack an existing one with all the goods built in including the large user base and the good reputation. 

[Vlad2Vlad]

I just checked and one of my orders went through.  I was able to add to my devcoin position which I bought about 10 days ago at .00041.  I thought I got an unreal deal back then but I just added just over 1 million more devcoin coins for nearly half that, .00022.  And that's high, the next guy is bidding a ridiculous 10 times less at .00004000.  There's no way it will go that low, at least I hope not.  So it looks like I'll be earning way less than I expected for writing for round 24 for but for me the dollar value doesn't matter, just the number of coins, as I don't plan to sell until my theory is proved one way or another which could take up to 1 year although I think we'll see something serious enough to at least confirm it in the next 60 days 

So maybe this is a blessing in disquise, since most writers etc probably earn coins to immediately sell them then maybe there will be less people competing for round 24.


can anybody who's been here longer then a few week tell me if devcoin tends to drop this time of month when people get millions of coins from the previous round, dump them, taking the price lower temporarily, and then the price goes back up in the next week or two cause the price has dropped nearly 50% in less than 10 days since I first bought coins which is a bit odd given there's been nothing but positive developments so my guess is that we're seeing downward pressure from individuals and developers who depend on the income from these coins so they have no choice but to sell at any market price they can get.  maybe that's why some guys is sitting at a ridiculously low price, hoping he can poach nearly free shares from desperate sellers.   I bid .00022 earlier today figuring I'd have to get the shares when sellers looked at my bid compared to the next best one which was highway robbery.  .0000400, that's the shameless bid of the week.

 lol, I'd almost feel bad if I got coins at that price considering lots of people get these coins as a benefit to society.  I really do hope I'm right and devcoin will be the next big winner if not one of them, I can't think of another coin which would directly and indirectly reward and help so many individuals.....and of course, the video game players who borrowed billions of coins.  lol, what would happen to those guys if they have say 5 million devcoins in their video game world?  That's a new one for the civil courts.

I'm starting to think I'm not gonna get much done in way of real work tonight.  And the weekend is here so there goes 2 more days.  Good think block 95000 is probably 3 weeks away.

If devcoin goes any lower than .00022 I'm gonna start selling things in my house to buy more coins.  Ha!  Things I don't need of course.....like my hair....summer is here and it's too hot anyway.  lol