Some thoughts regarding the future of this economy (coin)I intentionally wrote economy (coin) instead of coin, as a coin is just a name to measure the value of a certain economy devided by the amount of units of its total supply. The reason so many coins rise and fall is because of the speculative value of the coins but not because of their fair representation as share of the economy that uses that coin. In fact, most of the coins don't have a real economy, spendability or any safeguards against just being abandonned. The coins are led by people who have a single objective: maximum rewards for minimum effort. Notice how this board is filled with all type of suggestions, each different on number of blocks and way the coins get distributed. However, none of these coins have a system in place that backs the currency or gives it real base value.
Satoshi Poker's role in starting the economySpendabilityIn order for the DeuceCoin economy to succeed and grow, SP will keep pushing these coins and SP will always force any client on the network which we are building to accept the coin to ensure spendability of the coin. We are soon to announce our first client(s) on the network with in that case multiple people marketing while sharing the player's pool. Also the coins already in existance can (for now) only be used on this network, creating a spike in traffic and thus value of the coin among poker players. This will both ensure spendability of the coin, and except for supply also create demand by poker players who want to play these games.
Creating a base valueBesides just offering games in this coin, we are working to set up multiple systems which gives base value to the coin to be able to counter a pump and dump and guaranteeing a base minimum on it. At Satoshi Poker we currently have Cash Game Points, which is basically a VIP point system. One CGP represents 1 chip in rake (1btc/10k). We will set up a system in which players can exchange their CGP for DeuceCoin and use Deuce to buy bonusses, tournament tickets and merchandise in DeuceCoin. However, the tournament tickets that will be offered, will also contain entrance to BTC tournaments. At first this will be a cost for Satoshi Poker, as it has to provide the bitcoins for the prize pool, but when a poker tournament of max 100 players compete for a 1BTC prize pool, who all paid 1DEUCE for entrance, with guarantee that this tournament will be held daily/weekly it creates value for the coin as its value will be equal to 0.01BTC to any poker player. This is just an example of the possibilities to lock coin value when it is running in a poker client.
Amount of people contributing to the economyAs a poker site, supporting growth of a coin that offers its base value not just in trust from the community but interrelated with other cryptocurrencies (just as the global fiat community works) creates a more stable environment for the economy to grow in. When some multipools decide to dump their coins as soon as listed on an exchanger, the poker players that know what we are working on will buy up this coins. I mean, if they can buy it for 0.0000001BTC at cryptsy, knowing that we will start promotions which safelocks the coin at 0.01BTC they would be crazy not to buy a shitload of coins. And guess where they will spend the coins in the mean time? My skype, facebook and gmail have exploded with the number of people who are following this coin because they see value in it as poker player, not just as MPD (miner, pool or dev). In the end the MPD's are the mills, and thus far the competitive mills have failed to create a market. Economy consists of supply and demand, but demand from the creators and technically supporters of a coin is nothing compared to the demand from 1000 players playing daily with the coin on a poker site, who backs the value of the coin in BTC. That will ensure that the people contributing to the economy are not only the people who support the growth of the coin, but also the people who use it just to play the games they want to play.
ExchangerWhen sitting in the 2 hospitals (Aranyaprathet hospital at Thai/Cambo border, and then Satuk hospital close to my gf's home) I have had a few days without any real access to internet while seeing my girl having her miscarriage. As she was asleep most of this period, whether natural or narcosis, I was sitting on the floor next to her bed with plenty of time to step out of the entire project and analyse it from a 3rd person's point of view. Here I began to form an idea which has not left my mind from the moment it got into it. Most coins try to get on an exchanger as soon as possible to ensure the coin can be exchanged for either bitcoins or litecoins. However, this brings with it the problem of multipools cashing out and destroying the value of the currency. Any serious currency must have possibilities for cashout to either BTC, LTC or Fiat, but it is a fundamental need for DEUCE, because serious poker players don't like to play in a currency that can't end up in their bank accounts and poker players are the bare base of this economy at its start.
My first thought was: f**k getting into any exchanger and lets build up the value within the SP system itself. On second thought, no economy (coin) can survive without either being locked into other economies (like most fiat and LTC), have too many people who invested in it (BTC) or a community depending on it for purchasing their base essentials (closed economies like for example Cuba or North Korea). As we don't have the foundation of a community depending on the coin and we don't have the amount of money invested as BTC, we are forced to have the DEUCE economy locked into other economies. Conclusion: DEUCE has to get listed on an exhange. Considering the need for poker players to cash out and have a minimum security that their funds are safe, and to secure the safety of the coin at exchanges, DEUCE only has one option: It has to get listed on Cryptsy and further analyse the other exchanges to make sure they offer a stable market with enough volume and enough trust by the community to get listed. I am working on that end.
However, with listing on an exchange comes also the risk of dumping by multipools as mentioned by other members here. I would have the option as SP to buy up these amounts to keep the price stable and distribute them back to the main community (poker players) in a stable way. However, I have a second, way more out-of-the-box option, by locking the price at a certain rate against bitcoin (see creating base value above), which would get the poker community to jump on the coins in case pools try to dump. In that case a healthy market of supply and demand is generated. Any breakeven poker player would jump into exhanges buying a coin for 0.0001 BTC when he knows it has a buyin value of 0.01 for recurring poker tournaments which are paid out in a currency that allows him to get the winnings on his bank account within at most a few hours.
Conclusion: DEUCE will be listed on Cryptsy soon and we are working with BitJohn towards getting it listed, but before it is listed and announced, we will make a guarantee towards it's relative price to bitcoin for games in our Room/Network.
ConclusionFor the people that dropped comments like 'dev has been away for 72 days, I am moving on' I suggest you do so and hope you will prosper in what you do. The people in here that are educated in the fundamentals of economics know that an economy isnt built in 72 hours. I have started DeuceCoin because I believe in it and because I believe Satoshi Poker gives it the ultimate possibilities and perspective to make it a coin to be reckoned with. If it was just for the fact that the coin was built buy somebody who actually does give a f**k and has a vision. You might not agree with that vision, but a project led by a vision will outgrow any project that just focusses on short term profits.
Thats kinda what i had to get of my chest
