Devcoin

[Unthinkingbit]

Devcoin now live for trading at https://mcxnow.com/exchange/DVC

Could the developer please post or message me, or could someone who knows him ask him to, so I can see how much of the bounty he qualifies for:
http://devtome.com/doku.php?id=devcoin_bounty_now#exchange

He gets at least four shares for the basic exchange, I want to know what requirements he's met:

1) Strong passwords are required.

2) If there are repeated attempts to login, login should be slowed or a captcha should be used if it's not already.

3) Passwords should be hashed at least 10,000 times.

4) There should be an off site backup, at least 100 kilometers away from the site.

5) Deposits need at least six confirmations before they can be exchanged.

[kibu]

Can someone explain why DVC hasn't taken off like Namecoin did? I think it's an awesome coin with a great concept. It's on 2 exchanges, but it's still worth almost nothing (read: cheap!)

[jasinlee]

Unthinkingbit, the user hambos if I recall correctly is the dev. But that is on btc-e.com I dont know if he uses the same name here.

[champbronc2]

Can someone explain why DVC hasn't taken off like Namecoin did? I think it's an awesome coin with a great concept. It's on 2 exchanges, but it's still worth almost nothing (read: cheap!)

I think there are WAY too many DVC is the issue.

Also, Unthinkingbit, the developer of MCXNow is the user "coinhunter" on here. He goes by "realsolid" on mcxnow.com and can be seen in the chatroom semi-frequently as well.

[jasinlee]

oh snap realsolid has resurfaced!

[xchrix]

i have just added DVC data from mcxnow to cryptocoincharts.info
http://www.cryptocoincharts.info/#jump-dvc-btc

really good news that finally there is an alternative to vircurex

[twobits]

That's what digital coins are.  The entire planet will soon find out about them and will want them but there's no way to get them cause mining now requires very expensive hardware but that's not the problem, 10% of Americans would spend the money, I did and I'm not even working right now, but the software, that's the real problem, it's so difficult with all the varioius pools and all the various mining programs to get the right one and it never works until you mess with it for days and most people just aren't good enough with computers or software to do that.  So then the only thing left is to buy coins on the exhanges.  problem with that is americans are scared people - they don't like risk.  most would never buy off an exchange like vircurex that's been attacked and down twice in 45 days.  And most americans won't buy coins until they feel it's safe.  

What has you fixated on mining, and thinking it is just a matter of it being made easier?   Did you learn about bitcoin from the weusecoins site?  I noticed it has had this effect on a few people   I know.

So why don't a few of you smart guys who are obviously good programmers write some code for mining programs that will work with any PC or at least a higher end PC.  It can't be harder than hacking into NASA or the pentagon.  laborsome, perhaps, but not more difficult.  I guarantee you the flood gates will open and people will easily pay $50 for a download they can trust or a disk with a software that makes mining easy.  and once you do that you have done 2 HUGE things:  a) you have brought digital coins to the masses for free (while making a killing off selling a $50 DVD) and b) you will make yourselves crazy rich cause as 5 million or 10 million mine your coins that will make them more rare and as more people mine them successfully they will brag about it and it will catch fire and this will lead to a massive explosion in mass acceptance as well as the price in many of the coins being mined.

Mining used to be very simple.   You just checked a box in the client for it.   It was taken out though, becuase it has become a negative value to try and mine on the cpu and most gpus.  Soon it may be all gpus.

Take a look at this graph..   http://bitcoin.sipa.be/

getting miners has not been a problem, hence little value to improving the ease of it.

Cause I really don't understand, you guys have a product and you want everyone to get a piece of it because that kind of popularity will lead to mass acceptance but when a normal person off the street tries to find these coins, any coins, in just a few days they find out that's it's practically impossible.  If you guys are real programmers and it seems that you are and good ones at that why in the world don't you have a download somewhere on this site for a miner which downloads devcoins?  A simple download where any computer illiterate guy can just push a button and that's it.  Why not make devcoin the first easily mined coin cause right now there is no such thing.  you guys might think it's easy but in the real world in every job I've had I was considered computer literate and quite often I was the guy in charge of training the other teams on new proprietary software because I leanred it the quickest and let me tell you, it's been a month and this stuff is still confusing to me and out of all the coins I tried to mine I was only able to mine litecoin which was a failure.

Most people are going to have to find another way than mining to get their coins.   You said your litecoin mining was a failure, not because you could not mine, but because you did not get enough reward.  The reward is going to go down more as more people try and people invest in dedicated minters.

Devcoin's problem from a business standpoint is that it has too many coins and this kills the value and this is only going to get worse.  How long would it take to write a program for an easy to use miner and just put it out there.  once it gets popular you can even charge for it.  The more people own devcoins the less devcoins are floating around, and the more

It would take almost no time to reactive the option to mine.  It would be worthless though to the people who use it. They would see the same thing you did,  little return and a higher electric bill.

[ondratra]

Can anyone tell me what a share will be worth of in round 23? Calculation appreciated

[FinShaggy]

I have the same question: what is a share in round 23?
Thankx in advance for the answer!

293637-ish DVC
Which is 613 (613,000 words) divided into 180 million. So 180,000,000/613=293637
And I guarantee it'll be even smaller next round.

[weisoq]

where does the 613 come from?

[FinShaggy]

where does the 613 come from?

Here's the link:
http://devtome.com/doku.php?id=daily_script_results

This is what it said:
Original Word Count: 554,969 Total Word Count: 613,324 Total Weighted Word Count: 572,523

And I did the math for "worst case scenario".

[FinShaggy]

where does the 613 come from?

Here's the link:
http://devtome.com/doku.php?id=daily_script_results

This is what it said:
Original Word Count: 554,969 Total Word Count: 613,324 Total Weighted Word Count: 572,523

And I did the math for "worst case scenario".

But there is still the possibility of:

180,000,000/554=324909
180,000,000/572=314685

[weisoq]

where does the 613 come from?

Here's the link:
http://devtome.com/doku.php?id=daily_script_results

This is what it said:
Original Word Count: 554,969 Total Word Count: 613,324 Total Weighted Word Count: 572,523

And I did the math for "worst case scenario".

But there is still the possibility of:

180,000,000/554=324909
180,000,000/572=314685

oh right. I'm pretty sure it would be the weighted count (as collated = *0.3), but then you have to add in admin shares, exchange shares, developer shares, logo, marketing etc. I had guestimated at around 297k per share, but when applying that method (extrapolating devtome earning % to the total) to previous rounds it doesn't work. Be good if somebody could explain how we can keep track from unthinkingbits files, as I can't find one file that summarises everything.

[FinShaggy]

I don't think there is anything to worry about though:

1. Shares are smaller than anyone expected (even me) so people are going to be hording.
2. Shares are smaller than anyone expected, so everyone will try to sell each coin for more and the price will go up.
3. Next round shares are going to be even SMALLER. So coins are about to start going up even higher in value the next few rounds. Plus more people have coins now, and more people will get coins, making more possibilities of stores, forums, exchanges, wallets and more to promote the coin

[weisoq]

I don't think there is anything to worry about though:

1. Shares are smaller than anyone expected (even me) so people are going to be hording.
2. Shares are smaller than anyone expected, so everyone will try to sell each coin for more and the price will go up.
3. Next round shares are going to be even SMALLER. So coins are about to start going up even higher in value the next few rounds.

I'm not worried and I don't want to sell them. I'm just the sort of person who has to understand everything I can myself, and I can't work out a rolling methodology yet.

[Unthinkingbit]

I just checked how many lines there would be, changed the account file location for the quote below and uploaded the summary:
https://raw.github.com/Unthinkingbit/charity/master/receiver_summary.txt

The account file is at:
https://raw.github.com/Unthinkingbit/charity/master/account_23.csv

There were 501 original receiver lines, so the average generation share was worth 180,000,000 dvc / 501 = 359,281 dvc. Administrator pay is 26.0 shares, 5.2 percent of the total.

People on that list will start getting those coins in round 23, starting at block 92,000. The procedure for generating the receiver files is at:
http://devtome.com/doku.php?id=devcoin#generating_the_files

It would be good if someone ran all the files once in a while automatically with a cron job. It has to be automatic, because doing it manually every day is too much work.

[weisoq]

I just checked how many lines there would be, changed the account file location for the quote below and uploaded the summary:
https://raw.github.com/Unthinkingbit/charity/master/receiver_summary.txt

The account file is at:
https://raw.github.com/Unthinkingbit/charity/master/account_23.csv

There were 427 original receiver lines, so the average generation share was worth 180,000,000 dvc / 427 = 421,546 dvc. Administrator pay is 26.0 shares, 6.1 percent of the total.

People on that list will start getting those coins in round 23, starting at block 92,000. The procedure for generating the receiver files is at:
http://devtome.com/doku.php?id=devcoin#generating_the_files

It would be good if someone ran all the files once in a while automatically with a cron job. It has to be automatic, because doing it manually every day is too much work.

thanks, is it 427 or 501 lines? (.txt refers to 501)
edit: and what is meant by 'average share'? Average share per line, meaning per individual?; Average share with all shares being equal? Is there a straightforward way to monitor one simple 'share' of the total, or am I misunderstanding it? Trying to get how 572k words + other disbursements gets to 427 or 501 shares.?

[Unthinkingbit]

..
thanks, is it 427 or 501 lines? (.txt refers to 501)
edit: and what is meant by 'average share'? Average share per line, meaning per individual?; Average share with all shares being equal? Is there a straightforward way to monitor one simple 'share' of the total, or am I misunderstanding it?

Thanks for catching that, it is 501 lines. The mistake was because I copied that text from an earlier version of receiver_summary.txt. I edited my original quote to correct that.

It's average devcoins per share, I'll update the account output to say that. So if someone gets one generation share, they'll get around 359,281 dvc, if they get ten shares, they'll get around 3,592,810 dvc.

[FinShaggy]

..
thanks, is it 427 or 501 lines? (.txt refers to 501)
edit: and what is meant by 'average share'? Average share per line, meaning per individual?; Average share with all shares being equal? Is there a straightforward way to monitor one simple 'share' of the total, or am I misunderstanding it?

Thanks for catching that, it is 501 lines. The mistake was because I copied that text from an earlier version of receiver_summary.txt. I edited my original quote to correct that.

It's average devcoins per share, I'll update the account output to say that. So if someone gets one generation share, they'll get around 359,281 dvc, if they get ten shares, they'll get around 3,592,810 dvc.

Awesome

I'm gonna be mining after this
And getting some pretty cool community oriented stuff going
And I'm going to drive traffic to Devtome

[weisoq]

..
thanks, is it 427 or 501 lines? (.txt refers to 501)
edit: and what is meant by 'average share'? Average share per line, meaning per individual?; Average share with all shares being equal? Is there a straightforward way to monitor one simple 'share' of the total, or am I misunderstanding it?

Thanks for catching that, it is 501 lines. The mistake was because I copied that text from an earlier version of receiver_summary.txt. I edited my original quote to correct that.

It's average devcoins per share, I'll update the account output to say that. So if someone gets one generation share, they'll get around 359,281 dvc, if they get ten shares, they'll get around 3,592,810 dvc.

got it thanks again. So just for my understanding, if there were 572k+ weighted words + all the other shares, how does that output 501 lines? I've tried running the script but my python amounts to CS101 and so far computer says no.

EDIT: sorry just realised that 572k is cumulative, it's 326k + other.