Devcoin, the third ever altcoin turns 10 years old, 7/22/2021. It remains active

[realdantreccia]

HAPPY 10TH PUBLIC BIRTHDAY DEVCOIN - SINCE JULY 20/22, 2011. GENESIS AND BLOCK #1!

Perhaps the turtle wins the race this year. There has to be value for secure chains. And efficient ones at that in this new "green" world.

Under the radar 10 years, but still actively developed in the past year and still has the founder around.

Go Devcoin, go.

Regardless of Spot prices on one exchange, we still get written about in 2021:

https://copper.co/insights/what-do-the-top-10-cryptos-of-the-last-10-years-tell-us

7 years ago, we were known to Yahoo Finance...

https://finance.yahoo.com/news/longest-running-bitcoin-alternative-devcoin-050500319.html



Time to kick it in gear... unless waiting is the winning strategy. No one has ever told me, but here I am.

The thing is, behind the scenes many brilliant developers are already rolling out Devcoin's proposals into the pubic little by little and one day it will be here. So do I love my cheap DVC? Do I love marketing and working for the dev team? You bet.

Governance and the value of long and well thought out distribution is coming.

How nice (sarcasm)of Vitalik to plug our innovation and move on to Ethereum even using their own proposed governance system which ripped off that which Devcoin created...

What do we care. Our chain is under the radar, the most of the most secure - and no doubt, our devs from the co-founder with us today to our South American whiz kid and others who work on other projects yet help us immensely like Traxo and Vlad from iXcoin.

We are so very close. The distribution is almost optimal. Time for the next step...

A little Vitalik at Devcon when he must've read some good MarkM or Unthinkingbit posts on Bitcointalk.org the night before...

SocialCoin and the One World “Government”


The existence of a decentralized “real name” system allows for a large number of possibilities that have so far been unexplored in the cryptocurrency world. One attractive possibility is SocialCoin, the cryptocurrency that pays everyone in the world a “world citizen’s dividend” of 1000 units per month; another, similar alternative is to plug the system into a Devcoin-like system, allowing people to come together and vote on projects that the money should be spent on, thereby creating what is essentially a (voluntary) “world government” that funds itself from the revenue from generating new currency units. How much money could such a government get while still maintaining a low inflation rate? Here, there are two factors to keep in mind: people dying and losing their coins forever, and actual inflation.

Currently, when someone dies, their property automatically goes to their children or spouse by default. In a cryptocurrency, however, by default a person’s monetary savings simply become inaccessible since their passwords are lost. This destruction of coins creates a deflationary pressure; given the current death rate of around 8 per 1000 per year, multiplying by a factor of 2 to account for the fact that people tend to be somewhat wealthier than average at the time of their death, and then again dividing by 3 to take into account the fact that many people will have a system set up to ensure their wealth will go somewhere when they die (currently, about half the population has wills, and the divider can be bumped to 3 since people with more money are more likely to have them), we can get an estimate of 0.5% coin loss per year.

This, combined with a low target inflation rate of 1.5%, means that we can “print” 2% of the current money supply every year. Since cryptocurrencies will massively reduce the amount of fractional reserve banking in the world (as the cryptocurrency base unit is online, so individuals no longer “need” to store their money in banks in order to maintain savings accounts and make long-distance transactions), we can expect much of the world’s M2 and M3 money supply (ways of calculating money supply that include bank deposits) to become part of the base money supply of a cryptocurrency. The M2 money supply of the world is estimated at around $40 trillion, giving our world government a budget of $800 billion per year to play with – or, in the case of SocialCoin, a universal dividend of $114 per person per year.

In theory, a world government can do a lot with $800 billion per year; in practice, it remains to be seen how free from corruption such an institution would be, although in this case the fact that it will be controlled by direct democracy, and have no power to tax, can potentially serve as powerful restraints on abuse. It would essentially be a government in the sense of being an entity tasked with maintaining social infrastructure, but would lack the power to coerce and compel that might make it particularly dangerous. Or, we can simply stick with SocialCoin, and leave it up to each individual to improve their lives the best that they can with $114 per year – almost nothing to most people reading this article, but a very substantial amount in many underdeveloped countries. If the system can be made to rely on no centralized institutions and no tax revenue, it can secure a level of political neutrality that would allow it to be trusted by the entire world. Will it happen? Well, either wait and see to find out, or start implementing it yourself.

See also:

http://bitcoinmagazine.com/7050/bootstrapping-a-decentralized-autonomous-corporation-part-i/

http://bitcoinmagazine.com/7119/bootstrapping-an-autonomous-decentralized-corporation-part-2-interacting-with-the-world/

Source: https://blog.ethereum.org/2013/12/31/bootstrapping-a-decentralized-autonomous-corporation-part-3-identity-corp/

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[BTCITA187]

What's the website?

[realdantreccia]

What's the website?

devcoin.org
and our project
devtome.com (pre-alpha vs of Steemit some say)

[hornetsnest]

Huzzah Kudos!

[realdantreccia]

Huzzah Kudos!

WE'RE STILL HERE! DIFFICULTY MUST MEAN SOMETHING TO BLOCKCHAIN!

[BTCITA187]

What's the website?

devcoin.org
and our project
devtome.com (pre-alpha vs of Steemit some say)

And what's is the token address?

[leea-1334]

Wow, totally never heard of this,,, but I think OP you have to admit, it may be active now but it was inactive for a long time if most people have never heard of it and most exchanges (I want to say all but let us just say it could be listed somewhere now) do not have it.

I have lately been seeing a few new old coins popping up and reactivating. Wishing you all good luck.

[realdantreccia]

deleting double post in 24 hr. Sorry.

[realdantreccia]

And what's is the token address?

https://testnet.bscscan.com/address/0x12dee872521b652f1b3f8bc447b44fa2cd82027a

Since you asked for the token address wise guy. I actually found one just no idea who put it in testing haha.

Wow, totally never heard of this,,, but I think OP you have to admit, it may be active now but it was inactive for a long time if most people have never heard of it and most exchanges (I want to say all but let us just say it could be listed somewhere now) do not have it.

I have lately been seeing a few new old coins popping up and reactivating. Wishing you all good luck.

Thank you for your input. But it's never truly been "inactive". I've been in DVC discussion since early 2018 with the devs and the co-founder (who never left or stopped updating in each DVC topic and then some since 2011!!! look for "markm" on the forums). They let me do Social Media posts bc I'm an enthusiast. But we also have been on Keybase, a private forum from an old dev that he lets us use, Telegram, and even Discord.

Remember this - lack of updates do not mean dead coin. The software since I deposited my first DVC in early 2018 was the same software released last on GitHub in 2014 with the "Bitcoin and Devcoin Developers" - which was done by both Bitcoin and Devcoin devs concurrently from 2010-2014 by the Dev who went off to start the wildly successful and EVM bridged Syscoin project and CTO of Blockchain Foundry (a public traded company in CSE and American OTC).

DVC was originally payment for Bitcoin devs but Bitcoin had a head start getting its first $ value thru a crazy route OTC thru online New Liberty Exchange and paid out in PayPal (can we call those real USD$, ask Elon lol):

https://www.bullionstar.com/blogs/ronan-manly/dawn-of-bitcoin-price-discovery-2009-2011-the-very-early-bitcoin-exchanges/

So as time went on Devcoin ended up exchanging all their DVC for BTC to pay devs in Bitcoin because they desired it more... crazy rollout. But also sneaky in that we can assume either Bitcoin devs preferred cash to BTC (purists my ass! ) or DVC devs crushed the DVC spot price to exchange for BTC themselves... prob as a plan to secure the chain. It worked.

FYI

So Devcoin had a purpose in part to fund Bitcoin devs as their first use case. But they even exchanged DVC to get more BTC to pay devs. That is fascinating and shows how close the two are tied at their source value.

Back to when fiat entered BTC rates:

As time moved forward and Sirius (Martti Malmi's) first Bitcoin for $1 trade was done OTC by sending to the New Liberty Standard for the amount it was with in a virtual/measurement? asset called "Pecunix Gold" (rate posted the night before for the next day) and a 48 hour turnover was completed in which Sirius received the US $ amount for his Bitcoin exchange with New Liberty Standard after NLS used Pecunix gold rates from their online money changing services to convert what they valued Bitcoin:PUnixGold and then the amount of Pecunix Gold for $$$ - Bitcoin acquired its first transitive price in dollars. But there was a 48 hour delay and also Sirius was paying a rate posted a day before and done in September on GMT time - I can't go down that rabbit hole yet.

In early October 2009, there was also an historic Bitcoin / USD transaction which consisted of a Finnish programmer and early Bitcoin supporter named Martti Malmi selling 5050 BTC to NewLibertyStandard for US$ 5.02, which was the equivalent of 9.94 US cents per 100 Bitcoins.

Read the whole post its amazing: https://www.bullionstar.com/blogs/ronan-manly/dawn-of-bitcoin-price-discovery-2009-2011-the-very-early-bitcoin-exchanges/

The reason I bring that up is because all Devcoin had in value was that it merge mined with Bitcoin and that gave it value when it entered spot exchanges of the early years from miners who now had invested mining power into something that had started at a $ price with Sirius and NLS exchange in Fall 2009, so I guess you could say DVC started with its best value relative to Bitcoin (if they even had satoshis back then in DVC/BTC pairs)... but it hasn't revealed its true value yet and I can speculate all day, but in the end gotta redeem block 0 to make sense of it myself. For what? I do not know. Lets just hope it isn't movie tickets. =P



Devcoin's genesis block only periodically appears online when our dev emfox can get the site d.evco.in online. Appears to be down right now but the other place u can find it is hardcoded into our Windows software (in my own experience) right after you start it up fresh and check the debug log. It'll print right out just like the pic.

But that's another rabbit hole for another rabbit to explain. You're OG you get it.

[Sentinelrv]

it may be active now but it was inactive for a long time if most people have never heard of it and most exchanges (I want to say all but let us just say it could be listed somewhere now) do not have it.

This is not necessarily true. I don't know about Devcoin's history, but Peercoin (the first PoS coin) turns 9 years old tomorrow. The only reason Peercoin is not on a lot of exchanges is because centralized exchanges and services charge exorbitant sums of money for listings. Being a decentralized project with no way (or desire) to print new funds into existence, it can only function through voluntary donations, which is difficult to raise for listing fees in the hundreds of thousands or millions.

I would recommend that Devcoin move toward developing trading support for decentralized exchanges like Peercoin is doing to get around the walled gardens. We're developing wrapped token functionality so trading can be done through Binance Smart Chain and Ethereum on popular DEXes like Pancake Swap and Uniswap. Entry to these markets are permissionless and only depend on the talent of the dev team for integration.

[DaveF]

Heh, back in the day when I had a P2Pool node running on a PC in my office I would up with some DVC.
Never did anything with it since at that time since it was really not worth anything.
Wonder if I still have an image of the drive with the wallet. Would be interesting to see how much is sitting there.
Actually forgot about the till I saw this post I think it was late 2013 or early 2014 but I don't even remember what year it was that I mined them.

-Dave

[nisakhairun]

is this really a bounty project that is about to be released or has this project been released, and where can I see about the project