Ok so we seem to be in agreement then that it’s about cryptos generally, not bitcoin. In which case to bring this full circle and as a statement rather than question this time: why would anyone who doesn't fulfill that lucky category of early adopter choose to acquire and use btc as currency. Probably worth some thought, and then what that may mean for the issue of relative inflation of growing numbers of so-called other crypto currencies vs devcoin's. And speaking of survival strategies, unemployment and crypto adoption, there just so happens to be a coin to assist in addressing that
I pre-apologize for this long post but it is all very relevant to the future of devcoin and it involves the risks and benefits of all who contribute to devcoin, now and in the future.
Amin, weisoq, short term, Devcoin is hitting on all cylinders. Right time and right place, they're in the hyper growth phase right now so cutting back on printing coins is not possible, nor a good idea, now or in the near term.
We have High global unemployment and devcoin is everywhere offering jobs with real pay. This is why I said the upward pressure variables will grow exponentially and some logarithmically while the downward pressure factors such as dilution and selling will only grow linearly which will result in large to enormous upward pressures on the devcoin price.
My only issue is that it looks like we're paying third world country contributors first world country shares. That will wreak havoc on the system in a matter of months. I hope there's a plan to pay a triple the national average salary (which is generous, i wish i could get triple the national averafe here) in those countries which is generous and will help stem abuse, poor contributions and a mass exodus of educated top notch first world country talent.
One other thing that happens when you pay a 3rd wold country person a full to 2 years of wages in a single month is that he will undoubtably dump it all on the market cause he's never seen anything like it and knows something that good will never last and word of mouth will spread and the damage will be near instant. It's like deccoin giving us $50,000-$80,000 worth of real dollar coins for 1 month of programming or working. Who wouldn't sell it all, for many it's life changing money? That's how it is in 3rd world countries, I know I lived there for many years.
So besides the destruction of total share value a secondary negative effect caused by paying 3rd world countries equal shares will be a sudden and massive implosion of the devcoin price. Where in America, Germany, etc even $3,000 in a month of wages is not a lot to most and at worst most would only sell a portion and in many cases like mine, since I can pay my bills in other ways, I won't sell any coins.
So 3rd world country people who desperately need the money would most always dump all their coins which would further drops the price of devcoin. This is the second reason share payouts in 3rd wold countries should be generous but in line with their national average incomes and cost of living there.
I'm seeing devcoin has already gone global so I hope they have a fair and sound business solution for this. It might sound unfair but these countries also have, for the most part, also 1/10th the cost of living expenses to go with the 1/10th the income of the US, and any person there would feel lucky to sit at home and make 2-3 times the national average instead of digging ditches or weighing tables with a computer science degree.
Let's keep our compassion in check and do this thing right. Devcoin is the first real CryptoStock in the world and I'd hate to see poor yet simple decisions destroy this beautiful thing which is, I believe, on the brink of catching global fire and really taking off. How many remember what a logarithmic graph looks like from high school? Think Hyperbole!!!! It's a short lived and rare phenomenon which can make people very rich and I think the situation and factors for devcoin are all near set up but one major miscalculation could prove a huge setback.
This type of success is truly possible with devcoin and soon, it could start in 3-6 months, but we have to keep good top notch content coming and I suggest unthinkingbit et al putting some system in place to first warn then potentially fire people who don't rightfully earn their coins with good service and or content. This system is new and like all new systems it's ripe for abuse.
I realize by saying this I could get myself fired as I'm not a pro writer although I try to do a large variety types of articles since I don't know what works - if short, long, music, politics, green energy, economics, conspiracy theories, or poetry works best, given the vast and diverse US population, so until we get the page counter going I tried to hit on all of the above. I'm trying to cover the occasional reader up to the millions of college students looking for long research papers - just one of the research papers I wrote was 36 pages and I have no way of knowing if all that labor was worthless and if a few much shorter articles on Michael Jackson and Prince would bring in 10 times as many readers.
so for all i know i may be one of the ones who deserves to be put on notice or fired but there should be a protocol for this for the sake of all the good and great contributors. At any rate, Fair Quality control with steps for disciplinary action up to termination has to be put into effect ASAP to stem abuse and what would result in a real and effective theft of shares from everyone else.
Besides the argument of coin dilution, ad nauseum, this is another major issue that has been on my mind so I hope, like the coin printing issue, devcoin management has some kind of plan in the works.
Regards,
Vlad
You are stressing too much. There's already been a levelling out in global developer salaries (that's why a third of Google engineers come from India!). So I don't think there'll be a rush to develop Devcoin from those countries unless they close down all the Microsoft/Intel/Google etc business parks in Bangalore! It's actually the eastern european developers who are lagging behind in pay and that's mainly because they arn't an English language country like southern India. But once Silicon Valley gets over it's anti-English prejudice and opens business parks in Romania etc, that will change.
The main problem Romania has is the way it is portrayed in the press. If you say Bangalore to people, they instantly think "software". But if you say Romania (a place with similar population to Bangalore), people think "gypsies". It's pure prejudice - and totally wrong. One of the reasons for keeping Devcoin open to all comers at the same wages is that it helps talented people who are shut out of the global market simply because people are prejudiced about their country of origin and won't even look at their skills or talent. Devcoin to change the world!
