DVC will soon be traded on MCXnow.com
coming soon
ViCurEx.com is trading dvc right now, I'm certain as I already purchased some, and I'm logged in as we speak looking to add some more devcoins and maybe IXcoins. Any and all, please advise as to which are your top 3 favorite coins to buy and why. Mine are Devcoin Devcoin, Litecoin, and IXcoin - in that order. The explanation to the why would probably take a few pages so I'll perhaps write an article about it, but the similarities between stocks and these digital currencies are greater than the similarities they share with other fiat currencies, like the dollar which is very strange and unique and when it comes to investments and completely new markets which is what we have here, that is a very, very unique and great quality.
At any rate...
And to verify my devcoin wallet works I transferred 100 dvc into my home laptop devcoin wallet and I'm seeing 100 but also '3/unconfirmed", now it says "15 confirmations +100 so I think it worked but why are there 15 confirmations and how do I get any and all my coins off this laptop an onto a cold drive or a USB drive? I only did 1 simple transfer of 100 coins which also cost me 100 coins as a fee (from Vircurex), lol. I guess cash-wise that's dirt cheap and instant compared to banks.
Also, has anybody here received their round 23 devcoins? I haven't so I'm trying to see if I've got everything set up right, which is why I tested it out with my vircurex coins. What's amazing man this stuff is instant, better than anything banks can do. Add that to one more reason this thing is gonna start a crypto revolution. When I transfer money to buy coins it takes 3 days. It's as if these banks have to do pony delivery. Of course everyone knows they're sitting on your money and when it comes to hundreds of billions sitting in bonds and other fixed income instruments that 3 days is free money for the banksters, a lot of free money.
But seriously try vircurex. I know they were down twice now since I've come onboard, 30-45 days, but they're supposed to be the best and they are fast and courteous.
One more exchange you should consider is Coinbase as they just got a $5 Million cash backing from a top VC. I opened an account with them and man, it was so simple and streamlined and they give you a free app with creates a new login credential every 20 seconds. Vircurex offers something similar but you have to buy the yobekey which I just did, so now I have to set it up and not lose it. Ha.
Additionally, regarding Coinbase, as of a few days ago when I signed up they only traded Bitcoin and those are too expensive for me but with the $5 mil they just got I expect them to become the top tier, number 1 currency exchange in the next 6 months. Another nice thing Coinbase offers is you can link your banking account with them so you can then transfer cash via their ECH offer instead of going through AurumXchange and buying a voucher but first having to pay $60 in wiring fees to wire them the money for the voucher and then transfer the voucher to Vircurex, etc. By the time that's all done you're out $60 just for the wiring fees ($50 for the banksters and $10 for Vircurex) and you lose nearly a week and the way these digital coins can move that 1 week can cost you a massive amount in potential profits. My personal theory is: open up various accounts with the top 2 or 3 exchanges and spread out the risk between all of them - dilute the potential risk from hackers or sheer incompetence.
Hope this helps anyone looking at signing up with an exchange. I've been active in the stock market 20 years and I gotta say, there's quite a learning curve at this poing with digital currencies. I predict someone will come along and streamline the entire process, especially the mining part, and make millions in the process. That's cause I'm considered in the higher end of computer literacy where I've worked in the past and in my family and the last 30 days have been incredibily difficult. The good thing about that is competition will be limited for a while longer so mine, buy and earn all the various coins you can while the getting is good cause once this entire new market is first, discovered by the mass market, you can expect an influx of humans en masse, as they all make a run for their chance at getting money for nothing ("and chicks for free"). I personally expect this inflection point to happen in the next 12 months and quite possibly as early as in the next 6 months. Butterfly Labs, if it's the real deal will be the first mover in creating this revolution I wrote about in my first article. Congrats and good luck to all you visionaries who have found or, like myself, accidentally stumbled on the most amazing thing since the dot com era only this market, the digital coin market, will move and mature much more quickly than anything before it. There at too many powerful entities which have much to gain from digital money while doing away with the old, archaic and personalized paper money which in their minds is too cumbersome, inneficient (paying a nickel to make a penny, 12 cents to make a 5 cent nickel, billions in transportation costs, etc) and let's face it, allots we the citizens with much too much freedom to pay anyone we choose "under the table", stash our cash under our mattresses (do people still do that? ha!), paying our overdue taxes when we're able to or feel like it, etc. The government is an animal which will always seek total domination and it appears the separation of powers is losing its effectiveness via directive orders and the too powerful subjective conclusion which can be made by the very few men and women in the US supreme court.
Finally, don't go selling your devcoins cause their value is so low. Like stocks and other fiat currencies one must look at other attributes and characteristics of devcoin. Keeping in mind the Euro is not backed by anyone and no central bank (the the dollar is backed by gold and the Fed) one has to wonder why the euro is worth more than the dollar. It's all about perception - people buy where they believe there is or will be value. And the biggest this devcoin has going for it is that it has the widest ownership base. That not only lends it credibility but also stability. The only reason devcoin is probably the if not one of the cheapest digital coins out there right now is the perception that so much regular dilution will eventually drive the value to zero. Although I would agree that this type of dilution cannot go on forever - I also recognize that the current float or coins outstanding is not extraordinary when compared to many successful stocks and other fiat currencies. Off the top of my head I don't know how many devcoins exist, in total, today but I would venture a guess of approximately 4 maybe 5 billion. That is a lot compared to 21 total (in 2140) for Bitoin or 84 total for Litecoin, etc., but please look at Microsoft who has over 8 billion shares and yet it's trading at $33 per share. Or the US dollar which off the top of my head I'd venture a guess that there are currently over $30 trillion floating around and who knows how many more trillions have gone out the back door, unless you think the Fed and congress tell us every move they make and when they make it. On top of being so widely held, devcoin is the only coin I know of that is trying to behave like a stock, trying to earn revenues which then will share with its share/coin holders. This is truly unique and I think once more people are aware of this as well as digital currencies in general there will definitely be a mad rush to mine and buy every digital coin there is because most coins out there have a very limited number of coins available it wouldn't take a lot of incremental awareness to create enough demand for alternative digital coins which will result in all boats rising, all coins going much much higher than anyone here imagines. I remember buying some cheap worthless dot com stocks when I was just out of high school and I made a 10 fold on them, but didn't have the experience to sell in time, but I still made a lot of money (relatively, for a kid making $6 per hour) but since I had never seen anything like that before, to be able to make money on nearly any dot com stock you bought regardless of that asset's real value or credibility, simply because the entire world and all the rich mutual and hedge funds were chasing the only few hundred dot com stocks there was now too much demand and too few internet stocks to buy which cause a massive bubble. To put things in perspective, right now there are less digitial coins by at least a factor of 1,000 which means if even a handful of the population, 5-10% or a handful of hedge funds wanted to speculate in digital currencies, a digital currency bubble would inflate incredibly fast and it will go much higher than the true, real potential of each currency.
That said, the time to buy and to hold any and all currencies you have is now - it may be risky but from an Economist's point of view with a lot of personal stock market experience I absolutely see digital coins as a new market that will change investing and change many aspects of how we conduct business in general. Everybody here should consider yourselves extremely fortunate to have been in the right place at the right time - but timing and chance do not make decisions for you, it is up to each individual to make their own investment choices and for that I recommend doing your own Due Diligence and don't be led by fear, put fear and greed aside and then make an objective decision regarding these gold nuggets lying in a river stream with 99% of the people around you being oblivious to the fact.
Ok, I got a little carried away, that was supposed to be a 3 sentence response to help with finding a good exchange based on my personal experience and DD. This is how excited I am about Devcoin and digital currencies in general - I can't stop talking about them to everyone I meet and 99% of the people I meet are 100% clueless. The above points are important to anyone looking to invest in digital coins and there's more to it but I felt I was overdoing it for what belongs on a thread so perhaps I'll just write an article on the current exchanges and most of all what, why and how can these unknown digital currencies go mainstream and make many more millionaires overnight, just like it already happened with Bitcoin, as most [population] now are still sleeping, calling the Bitcoin phenomena a mere fluke or a scam.
Thank God for learning curves (and masses with small minds who have lost most if not all their imagination and thus cannot believe or imagine something to be true until you provide exorbitant proof and it's that kind of certainty, in investments, which ends up costing you lots of money because you waiting much too long to get in) - it's buying everyone here a few extra months while regular people who can't or don't have the time to figure out how all this works give up and await the soon to come streamlined and easy way to mine and buy any digital coin of your liking. And that brings one other important factor to mind regarding Devcoin. Devcoin needs a unique and beautiful coin since people do fall in love with their eyes, men especially, and that would go a long way when new entrants try to decide which coin to buy. I'm personally working on designing a new devcoin but I can't draw at all so it's been very difficult but so far I have 2 coins about 50% completed (If I knew photoshop the remainder would be the easy part) and I advise anyone with any artistic talent to try and create something totally new, not just another bitcoin copy cat as there is nothing truly unique about Bitcoin's coin anyway. Remember, it's digital, there's no concerns about practicality or supply and logistics.
Finally, can a few guys on here chime in on whether or not you have received your dCoins (my favorite way of calling Devcoins) distribution from round 23, because I have not and I'm not certain my wallet is setup properly even though I did follow the instructions? Thanks in advance.
I hate to do this because it makes me feel like a panhandler but hey, finding a good job has been much harder than I ever expected so in a sense maybe I'm not far from becoming the guy with the sign: "Will Work for Coins". But seriously, to keep in-sync with what most here seem to be doing, here are my wallets, I have a few others but they're at vircurex so I'm reluctant to give those out. AT any rate, here are my two donation wallets. Man, it just feels crappy even thinking that, but regardless here they are:
"Shameless TIP Jar" for devcoins: 12KvDbW9nUdymE9tUyjMjC5UdqmBipanQH
"Shameless TIP Jar" for Litecoins: (Yes, you must already be a millionaire to mine Litecoins as a $1700 dual GPU computer proved futile): LRLVkWEvLToRnh4qKc6vJYjFTH1sbff913
Thank you! to all the guys on here who have helped me so much over the last couple weeks but especially over the last 3 days - Unthinkingbit was especially and incredibly helpful and patient with my barrage of newbie questions, always replying with a lightning quick response - the kind of customer service you can only dream of in the real world.
Good luck to everyone on here and let's hope that even half of my optimism and predictions come true as that would mean we are all about to embark on a truly once in a lifetime opportunity.
Best wishes and regards,
Vlad