Devcoin

[Kumala]

Out of curiosity, what is everybody's take on the purpose and goals of devcoin? (Especially Unthinkingbit's opinion)

The way I see it it's a token currency to allow open source projects to trade resources and to pay people for contributions. When you start an open source project you have ideas that there will
be lots of people helping you just because you made it open source yet the reality is that many projects have just one or two developers doing most of the work. Devcoin allows people to help kickstart new or further develop existing projects and get some outside help.

Thanks for the response.  It seems to me that devcoin has a fatal flaw-- 90% of the benefits go directly to a select group of people (approved by whom?), thus ensuring it would never get adopted as a currency/means of barter by the greater population. Also, what is the motivation to mine it for the greater population?  Or perhaps I'm not understanding it correctly?

I believe the idea and concept in general is an excellent one, everyone nowerdays talks about supporting opensource, but how many people actually support those releasing opensource software? Here we have a means of supporting a broader range of people and projects without having to transfer funds "somehow" to each and everyone individually. You could argue that this can also be done via BTC or any other of the existing alt-chains, but the main difference here is, one can now support a larger group of projects with one purchase of DVC rather than having to transfer coins to several projects. Similar to the Red Cross, I guess, you entrust them with donations and expect them to manage it properly by funding individual cases. You want to support opensource, go buy a couple of DVC of the exchanges, keep them or throw them away, doesn't matter, with the purchase of DVC, you have most likely bought them of someone who received them as being part of the opensource community group that is supported by the DVC.

Is the 90% too high or too low? Time will tell, we need a starting point somewhere. My take is that the majority of the coins need to go to the Opensource commonity because they get supported by selling their coins to those who want to support the projects, and not the miners selling them. Yes of course most miners mine to make money or at least cover their operational costs, so obviously a fair share needs to go to them too. 

Most likely there will only be a few miners unless we get merged mining up and running and convince some pools to use it. That sounds easier than done, strangely some of the big pools are not even merge mining BTC/NMC yet.

The ultimate goal is to support the Opensource community, right? Most people dont want to go and mine to support, they'll probably just want to go buy some DVC to support the overall community and then possibly donate them to a specific project.

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[Unthinkingbit]

At the time of this writing the bitcoin difficulty is 1,203,461:
http://allchains.info/

The devcoin difficulty varies because it uses a continuous average difficulty, but it's typically around 35:
http://107.20.193.62:2750/chain/Devcoin?count=500

Because only one tenth of devcoin generation goes to the miner, the effective difficulty value is 35 / 0.1 = 350.

Devcoin blocks are one thousand times bigger than the bitcoin blocks, to avoid potential problems people have dealing with large currency units:
http://forum.bitcoin.org/index.php?topic=9299.0

So the value from difficulty of devcoin relative to bitcoin is the devcoin difficulty / bitcoin difficulty / 0.1 / 1000, which simplifies to:
devcoin difficulty / bitcoin difficulty / 100

Currently, the devcoin difficulty exchange rate is:
35 difficulty / 1,203,461 difficulty / 100 * 1 BTC/DVC = 0.000000291 BTC/DVC

The inverted exchange rate is:
1.0 / 0.000000291 BTC/DVC = 3,438,460 DVC/BTC

The last devcoin trade on vircurex:
https://vircurex.com/

was at 50,000 devcoins per bitcoin at the time of this writing.

So people are buying devcoins at way too high a price compared to generation.  While I want people to get devcoins, I don't want people do so at way too high a price.  I want people to know what they are getting into and know that the block size is fifty thousand devcoins.

Note:
I still don't want people to trade a lot until there is devcoin merged mining; but it would be good to see a realistic devcoin price in the meantime, even though the market is tiny.

[Unthinkingbit]

Out of curiosity, what is everybody's take on the purpose and goals of devcoin? (Especially Unthinkingbit's opinion)

Devcoin is a token currency to fund open source developers who create software, hardware, articles, music, and other stuff:
https://github.com/Unthinkingbit/charity/wiki/Devcoin-Description

Another way of looking at devcoin is to compare it to Ithaca Hours:
http://en.wikipedia.org/wiki/Ithaca_Hours

I posted a link to the wikipedia article rather than the Ithaca Hours website because the Ithaca website is badly designed or broken.


Ithaca Hours are paper money, which costs roughly 0.1 USD to make:
http://consumerist.com/2011/03/rising-cotton-costs-make-paper-money-more-expensive-to-print.html

which is roughly 1% of their 10 USD value.

Devcoins are electronic coins for which the miners get 10% of the value.


Ithaca Hours are granted to Ithaca non-profit organizations:
http://en.wikipedia.org/wiki/Ithaca_Hours#Economic_development

Devcoins are granted to developers on the bitcoin donation list:
https://github.com/Unthinkingbit/charity/blob/e5621e493d6a44472d3aa4679420f1bacce16039/bitcoindonationinformation.html

the devcoin share list:
https://github.com/Unthinkingbit/charity/blob/e5621e493d6a44472d3aa4679420f1bacce16039/devcoinshare.html

and devcoin bounties and in future other open source bounties:
https://github.com/Unthinkingbit/charity/wiki/Devcoin-Bounty


There is confusion about devcoin, but devcoin is just a token currency like Ithaca Hours, or the Christiania coin:
http://www.utopiskehorisonter.dk/engelsk/comcur.htm

Worgl Schillings:
http://www.globalideasbank.org/site/bank/idea.php?ideaId=904

United States Notes:
http://en.wikipedia.org/wiki/United_States_Note
http://www.john-f-kennedy.net/thefederalreserve.htm

Colonial Script:
http://www.kamron.com/Liberty/colonial_script.htm
http://1zipmont.wordpress.com/the-status-quo/the-founding-fathers-colonial-script-the-federal-reserve-and-the-national-debt/

Devcoin is simply the first electronic, peer to peer, token currency.

[cablepair]

I am having some problems compiling devcoin

If anyone could offer some help I would appreciate it...

make -f makefile.unix bitcoind
g++ -c -O2 -Wno-invalid-offsetof -Wformat -g -D__WXDEBUG__ -DNOPCH -DFOURWAYSSE2 -DUSE_SSL -DUSE_UPNP=0 -o obj/nogui/main.o main.cpp
In file included from main.cpp:11:0:
receiver.h:3:23: fatal error: curl/curl.h: No such file or directory
compilation terminated.
make: *** [obj/nogui/main.o] Error 1

thank you

[Kumala]

receiver.h:3:23: fatal error: curl/curl.h: No such file or directory
compilation terminated.
make: *** [obj/nogui/main.o] Error 1

Try this one
sudo apt-get install libcurl4-openssl-dev

[cablepair]

any plans for Devcoin to be merged mining compatible?

I am running a poolserverj 0.40 rc7 pool right now with btc/nmc merged and I really want to add a third coin!

[cablepair]

we at BTCWebHost.com are proud to announce hosting of the Devcoin wiki!

http://devcoin.btcwebhost.com/wiki/

! Dedicated Devcoin domain name coming soon!

[markm]

Who is actally running devcoin with incoming port open?

I just got rid of my three spare computers thgat had all been running all the various blockchains, and now, without other machines of my own for my devcoind to talk to, I am only able to mine for about an hour or less before devcoind starts claiming to have zero connections.

I stop it and restart it - am thinking of using cron or just a timing loop to do that automatically even it seems so reliable - and get 3 or 4 connections, but within an hour or so it is back to zero and I have to restart it again.

What could cause that? Are the other machines out there only tolerating a connection from me for a while then rejecting me or what?

Or is no one running 24/7 with an open port so they can be connected to?

It seems weird, if it is just random coming and going of people who only appear on the IRC channel briefly then leave or something, that I can so consistently get 3 or 4 connections again when I restart. I do even manage to get a block sometimes before the connections evapourate.

Would having more 24/7 nodes with open port help, or are the connections going to keep evapourating regardless?

I have not noticed this yet with any of the other blockchaisn I have been runnning, but I haven't actually gone through them all checking yet either.

-MarkM-

[Shattienator]

Who is actally running devcoin with incoming port open?

I just got rid of my three spare computers thgat had all been running all the various blockchains, and now, without other machines of my own for my devcoind to talk to, I am only able to mine for about an hour or less before devcoind starts claiming to have zero connections.

I stop it and restart it - am thinking of using cron or just a timing loop to do that automatically even it seems so reliable - and get 3 or 4 connections, but within an hour or so it is back to zero and I have to restart it again.

What could cause that? Are the other machines out there only tolerating a connection from me for a while then rejecting me or what?

Or is no one running 24/7 with an open port so they can be connected to?

It seems weird, if it is just random coming and going of people who only appear on the IRC channel briefly then leave or something, that I can so consistently get 3 or 4 connections again when I restart. I do even manage to get a block sometimes before the connections evapourate.

Would having more 24/7 nodes with open port help, or are the connections going to keep evapourating regardless?

I have not noticed this yet with any of the other blockchaisn I have been runnning, but I haven't actually gone through them all checking yet either.

-MarkM-

Check this post with the nodes and their addresses: https://bitcointalk.org/index.php?topic=34586.msg451400#msg451400

These three nodes are running 24/7 and all required ports are open.
If any problems connecting these nodes - please PM.

[Kumala]

I am trying to get a devcoind running on my PC at home running ubuntu 11.04.

I compiled everything and the daemon is running and downloading blocks. Once it reaches block 11999 I get the error message (using getinfo):

Errors: WARNING: Displayed transactions may not be correct! You may need to upgrade, or other nodes may need to upgrade.

The version shows "32400".

Any ideas?

[cablepair]

Official Devcoin Wiki is up!

http://www.devtome.org

[Unthinkingbit]

I am trying to get a devcoind running on my PC at home running ubuntu 11.04.

I compiled everything and the daemon is running and downloading blocks. Once it reaches block 11999 I get the error message (using getinfo):

Errors: WARNING: Displayed transactions may not be correct! You may need to upgrade, or other nodes may need to upgrade.

The version shows "32400".

Any ideas?

Twobits tried making a windows version a while ago and ran into the same problem at block 11999.

I don't know why there would be a problem on windows and not on Linux.

[Unthinkingbit]

Cablepair has been awarded the bounty for developing the devtome wiki:
http://devcoin.btcwebhost.com/wiki/index.php?title=Main_Page

Devtome is an open source wiki where the contributors get a share of the advertising revenue, converted to devcoins, plus a devcoin generation share. There are no notability requirements for the wiki, only the usual no malware, porn or scammy stuff.

At first, anyone can register for the wiki, and if someone adds scammy stuff they'll be booted off. Eventually as the wiki becomes more popular, scammers will purposely target it, so to stop scammers new writers after that will have to send an email with their first article to register.

All contributions to devtome are considered to be released under the Creative Commons Attribution-ShareAlike License (wikipedia license). You are welcome to contribute stuff from your own website or blog, you just have to show that you have the rights to whatever you're contributing, or the original license is compatible with the ShareAlike license.

Now everyone can write an article on any subject, and get paid for it in devcoins.

Please port over articles from your website or blog.  The more stuff you bring over to devtome, the more revenue will go into devcoin, and the sooner your devcoins will be worth a lot.


Cablepair wanted the 4 share or 40 BTC bounty in bitcoins, so I sent him 40 BTC:
153627 - 40 BTC - http://abe.john-edwin-tobey.org/tx/b20bad415825253283aae67449c259899eef2a59e7d11504d7f135ba4b3f577f

and provisionally I will in turn get four extra generation shares in round 6.  If anyone wants up to four extra shares, I will trade them at 10 BTC/share, until block 20,500.  The round 6 receiver file will be made at around block 21,000.

I sent the 10 BTC for the domain names out of my own bitcoins.

If anyone else makes a devcoin wiki, they will get 3/4 of the bounty, the next 2/4 and the last 1/4.

[Unthinkingbit]

Hi Kumala,

I am trying to get a devcoind running on my PC at home running ubuntu 11.04.

I compiled everything and the daemon is running and downloading blocks. Once it reaches block 11999 I get the error message (using getinfo):

Errors: WARNING: Displayed transactions may not be correct! You may need to upgrade, or other nodes may need to upgrade.

The version shows "32400".

Any ideas?

On second thought, it may have something to do with the receiver files.  In your windows machine, try trashing the devcoin folder and trashing the devcoin folder in your home directory (which contains the wallet file and receiver files).  Then reload devcoin from Galactic Milieu:
http://sourceforge.net/projects/galacticmilieu/files/

and download these files into your devcoin program:
https://raw.github.com/Unthinkingbit/charity/master/receiver_2.csv
https://raw.github.com/Unthinkingbit/charity/master/receiver_3.csv

naming them receiver_2.csv and receiver_3.csv, they should be in the same folder as receiver_0.csv and receiver_1.csv.  Then run devcoin again and post what happens.

[Kumala]

I deleted the wallet and the DB files as well as downloaded the CSV files as you mentioned. It works now.

An observation I made during the loading of the blocks. from block number 11199 onwards I get to see the following error message a couple of times:
 Number of pages in getCommonOutputByText: 3
 Insufficient identical pages in getCommonOutputByText.
Could not get the page: http://galaxies.mygamesonline.org/receiver_4.csv
Exception: Host not found (authoritative)

From then onwards the block download speed drastically reduced to a few blocks per second only.

[Kumala]

Mining away at10KHash/sec. After not finding a block for 24 hours I was wondering how long it would take (statistically). I came across the following extract

time = difficulty * 2**32 / hashrate

from the page at https://en.bitcoin.it/wiki/Difficulty

Does this formula also apply to Devcoin?

If it does, then I am getting worried cause: Getinfo shows difficulty of 592 -> time=592*2**32/10000 = ~3000 days

[cablepair]

Hello!

If you are interested in Pooled Devcoin mining I have an option for you:

http://pool.devcoin.org

It is not 100% completed yet but it is very close, and you should be able to register a worker mine dev coins and get a payout with no problem

for now point miners to pool.bitminersunion.org port 8999

Let me know what you think!

[Kumala]

Mining away at10KHash/sec. After not finding a block for 24 hours I was wondering how long it would take (statistically). I came across the following extract

time = difficulty * 2**32 / hashrate

from the page at https://en.bitcoin.it/wiki/Difficulty

Does this formula also apply to Devcoin?

If it does, then I am getting worried cause: Getinfo shows difficulty of 592 -> time=592*2**32/10000 = ~3000 days

Ignore this question, for some odd reason I was under the impression that it's CPU mining chain. Powering up my GPUs, that should do the trick.

[cablepair]

The Devcoin Block Explorer is Now Live:

http://explorer.devcoin.org

[Unthinkingbit]

The Devcoin Block Explorer is Now Live:

http://explorer.devcoin.org

Cablepair has been awarded the two share bounty for making the third devcoin block explorer:
https://bitcointalk.org/index.php?topic=34586.msg540071#msg540071

He'll get the shares in round 6.  The current round 6 bounty shares are at:
https://github.com/Unthinkingbit/charity/blob/master/bounty_6.csv