Devcoin

[EmilianoZ]

Devcoin is a great idea, but I am sure I read somewhere that creating any sort of money limitless is a problem for that currency, since it never aquires value

So, what is the maximum number of DVC ever to be mined (like 20 million for BTC) ? I searched for the answer, but it seems confusing. The official sites say that it is 21 billion (1000X number of BTC), but now I hear it is unlimited - is that true ? Did the software get changed sometime after first release ?

The maximum number of coins in any one wallet or address or in general any arithmetic/total, but coins will keep getting created, 50,000 per block, forever. So some century or other maybe larger than 64 bit integers will have to start being use if more than 21 billion ever need to be added up in any one arithmetic operation.

-MarkM-


Are you saying the limit is not 21 billion total, and it is unlimited ? Is there a document which says that ? The source code seems to indicate 21 billion total ever to be produced.

No, the source code indicates no individual variable containing a count of coins can count up to more than 21 billion.

Nowhere does the code add up all coins ever minted, it only adds up wallet, "account" and address totals. So as long as no individual wallet, "account" or address has more than 21 billion there could be billions of times that many coins total. It would just eventually need larger integers at some point if someone did try to add up all the coins in the entire blockchain.

Search for "subsidy" in main.cpp, it just does 50,000 coins per block forever, there is no halving and there is no block at which it stops minting.

-MarkM-


So the price of coins is basically just based on the projects and the rarity of the coins as more people come on board.

[FinShaggy]

Devcoin is a great idea, but I am sure I read somewhere that creating any sort of money limitless is a problem for that currency, since it never aquires value

So, what is the maximum number of DVC ever to be mined (like 20 million for BTC) ? I searched for the answer, but it seems confusing. The official sites say that it is 21 billion (1000X number of BTC), but now I hear it is unlimited - is that true ? Did the software get changed sometime after first release ?

The maximum number of coins in any one wallet or address or in general any arithmetic/total, but coins will keep getting created, 50,000 per block, forever. So some century or other maybe larger than 64 bit integers will have to start being use if more than 21 billion ever need to be added up in any one arithmetic operation.

-MarkM-


Are you saying the limit is not 21 billion total, and it is unlimited ? Is there a document which says that ? The source code seems to indicate 21 billion total ever to be produced.

No, the source code indicates no individual variable containing a count of coins can count up to more than 21 billion.

Nowhere does the code add up all coins ever minted, it only adds up wallet, "account" and address totals. So as long as no individual wallet, "account" or address has more than 21 billion there could be billions of times that many coins total. It would just eventually need larger integers at some point if someone did try to add up all the coins in the entire blockchain.

Search for "subsidy" in main.cpp, it just does 50,000 coins per block forever, there is no halving and there is no block at which it stops minting.

-MarkM-


So the price of coins is basically just based on the projects and the rarity of the coins as more people come on board.

That's not true. There is "limitless" oxygen, yet it sells when you purify it and put it in tanks.

As long as devcoin is working towards something, it has value to whoever wants those things done

[EmilianoZ]

I would say cryptocurrencies are like fiat money
Commodity monies (precious metals,
stones, or arrowheads) have values that are
independent of what they will buy. Fiat
money (paper currency) is valuable only
because it is money; its use is based on
faith.
Meaning their value is based on faith, faith tho the system creating the money, and faith to the people backing its value

[FinShaggy]

I would say cryptocurrencies are like fiat money
Commodity monies (precious metals,
stones, or arrowheads) have values that are
independent of what they will buy. Fiat
money (paper currency) is valuable only
because it is money; its use is based on
faith.
Meaning their value is based on faith, faith tho the system creating the money, and faith to the people backing its value

Except devcoin is not just faith, it has investment in the future (through the bounties). I guess if you consider "believing in the future" some form of "faith", then yeah it's just faith.

[EmilianoZ]

The example you offered is confounding the commodity of money with the resource it is based on.

That's not true. There is "limitless" oxygen, yet it sells when you purify it and put it in tanks.

As long as devcoin is working towards something, it has value to whoever wants those things done

[FinShaggy]

The example you offered is confounding the commodity of money with the resource it is based on.

That's not true. There is "limitless" oxygen, yet it sells when you purify it and put it in tanks.

As long as devcoin is working towards something, it has value to whoever wants those things done

Oxygen when put into tanks can fuel things.
Devcoin when put into people can develop things.

The simile is there, it's not that hard to understand.

[EmilianoZ]

What I am saying is the money's value is based on the backing society gives to it that is the faith part, you have to belive society would keep using that money.
 

[FinShaggy]

What I am saying is the money's value is based on the backing society gives to it that is the faith part, you have to belive society would keep using that money.
 

Or,
You just have to keep developing things society wants, and back it with the coin like shares.

Since this coin is limitless it could become the "Solar System Coin" suggested in another thread.

[EmilianoZ]

Again I am not saying it is not useful to have this coin, I am just stating the properties of other currencies through history.
I mean currency is not by any chance a new invention. Actually history shows there are several civilizations which add to different attempts to invent different kinds of money

[FinShaggy]

Again I am not saying it is not useful to have this coin, I am just stating the properties of other currencies through history.
I mean currency is not by any chance a new invention. Actually history shows there are several civilizations which add to different attempts to invent different kinds of money

And some traded seashells, which are basically infinite.

[FinShaggy]

Just so everyone knows, the BEST way to raise the value of Devcoin is to offer things for sale in exchange for devcoin. If people need devcoins to buy something, devcoin has value.

And if you invent something, only sell it in exchange for devcoins first.

I plan on working towards building solar/wind mining rigs and ASIC miners that can be sold for DVC.

[EmilianoZ]

And some traded seashells, which are basically infinite.

Yes there are many examples, and we can apply past experiences to new projects

[FinShaggy]

I'm going to try to make a way for kids to earn Devcoin. I remember when I was a kid (like 14-17), I used to search for "How to make money online" all the time.

[twobits]

Any real devs willing to take this on and try to resolve the issue? Or is this a speculators thread?

I spent some time in April trying to improve the new user startup experience.   I put the builds up the start of this month, and they have had a few hundred downloads, and I have not had any issues reported yet.      https://www.box.com/s/1mqfk22gyqq97ytdmifi

[FinShaggy]

Devcoin follows eastern tradition...
"Once you can see the mala as more spectacular than gold, you win at life."

[Vlad2Vlad]

I really need some help.

I had 1,000,000 devcoins on one of my computer's C drives and I wanted to transfer it to a different G drive so I could keep that drive unplugged (hot swappable) just for added security.  So I cut and paste my entire user file from C to G cause I wanted to make sure everything was copied over.

Problem was some files would not transfer saying they were in use even though I closed everything that had to do with devcoin.  some of these files were log files and some dat files.  I think what happed was the wallet.dat file didn't transfer over cause when I tried to pull up the wallet in the G drive my entire 1 million coins were gone.  I paid $400 for these coins 2 weeks ago so this is costing more than that desktop is worth.

so then I realized the mistake I made and saw that the wallet.dat file was still on the C drive because I did NOT delete anything.  So I then copied and pasted everything from G back to C hoping it would just combine everything missing with everything that got left over.  

But no, when I open the devcoin wallet it's a totally new wallet with different address and my previous addresses are gone and so is the 1,000,000 devcoins  

I didn't delete anything so the coins have to be on there somewhere.  Can anybody help me out.  I really don't wanna lose this many coins.  Thanks.

[Unthinkingbit]

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and so got the ninth, one generation share signing bonus for writing:
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There is now one, one share bonus remaining. The writer will also get earnings per word:
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[FinShaggy]

I really need some help.

I had 1,000,000 devcoins on one of my computer's C drives and I wanted to transfer it to a different G drive so I could keep that drive unplugged (hot swappable) just for added security.  So I cut and paste my entire user file from C to G cause I wanted to make sure everything was copied over.

Problem was some files would not transfer saying they were in use even though I closed everything that had to do with devcoin.  some of these files were log files and some dat files.  I think what happed was the wallet.dat file didn't transfer over cause when I tried to pull up the wallet in the G drive my entire 1 million coins were gone.  I paid $400 for these coins 2 weeks ago so this is costing more than that desktop is worth.

so then I realized the mistake I made and saw that the wallet.dat file was still on the C drive because I did NOT delete anything.  So I then copied and pasted everything from G back to C hoping it would just combine everything missing with everything that got left over. 

But no, when I open the devcoin wallet it's a totally new wallet with different address and my previous addresses are gone and so is the 1,000,000 devcoins 

I didn't delete anything so the coins have to be on there somewhere.  Can anybody help me out.  I really don't wanna lose this many coins.  Thanks.

I would check the recycle bin.

[jasinlee]

If you have the wallet.dat you are safe.

[Vlad2Vlad]

If you have the wallet.dat you are safe.

That's what i'm thinking but I don't think they're connecting.  

So I tried to copy the wallet.dat file and directly paste it on top of the devcoin client thinking maybe it wasn't finding it and then I get an error saying to change the password to <password> and it gives me a path to follow but when I get to appdata it's not there.  appdata part of the path so I can't get to devcoin to change the password in order to manually add the wallet.dat file.  I think it's all messed up so that's probably why it created a new wallet with different receiver wallet numbers than what I had.





Well, if devcoin ever gets up there in price then it will be worth to hire someone to come in and find it.  cause right now I'm more likely to mess it up worse.

I tried to restore from an earlier session but there are none, I just this old server 2 weeks ago and installed windows 7 pro so there's no back up yet which would have probably worked.