Topic: [DVC]DevCoin - Official Thread - Moderated - page 147. (Read 1059181 times)

If you want to make people less eager to dump their coins, give them a reason to hold them.
Or wait for the free market (services, products) to provide a reason for the traders/miners to convert the devcoins into something usefull without having them dump it and negatively influence the DVC/BTC rate.

Am I the only one who is HAPPY AS A PIG IN SHIT that all those miners are dumping their DVC for basically nothing?

We are young (well, admitedly ALL cryptos are, lol), but devcoin today is like bitcoin was in 2011.... I say let's continue accumulating and be damn happy about this opportunity.

A long time ago I printed out this devtome graph (don't know who created it)...
I laminated the paper, so that I can have it on my desk at all times, grab it and look at it whenever I want to dream about the future of devcoin...  



Everything about this coin is well balanced already.
All this would change, if we start messing with the block reward.

Devcoin is already fine, total available amount of coins will even in 500 years (lol) stay in the hundreds of billions, and converge towards a very stable 3% inflation.
hundreds of billions is what the marketcap of a very large company is like, so this makes sense for devcoin who strives to become an alternative way of financing creativity and development...

All this makes total sense.

This baby isn't even fully born yet.... I can only see the head and half of the torso... this is not the best time to change anything in the specifics.

Sure, let's update the version and fix problems, but the coin specifics are PERFECT the way they are now.

It will remain the same.. it will only change if community agrees on a consensus.

No ipo it will help all devcoiners in the longrun i think. Im updating code to newest bitcoin (done) now testing it.

I want to do a testnet to test features and I want to think about any new features like voting etc see if its possible or even if we should do it. Once we agree on what the next version should look like (few weeks) then we can implement and test.

Questions:

What's the ETA on the new version?

How will the block reward be cut? (gradual or immediate decline)

Will the coin be 'new'? (DVC2, or will the chain remain the same?)

If immediate, will there be an exchange?  (e.g. 1000 DVC for 100 DVC2)

Finally, will there be any sort of DVC2 IPO?

Not immediately but over time is may have a higher marketcap because at low
blockrewards there is incentive to hold or
buy which there isnt currently as we see in any rise. As we saw
with shares increasing with the price rises we saw dumping As a result because the people earning the coins valued their work so little ($20 per share).. this wont rise until there is more incentive.

We have seen time and time again that as the price rises
a bit more people join up to get in and a few people tske the time to understand devcoin and realize the potential and stick around. However those same people are leaving because there is no price incentive to hold their coins.. Even as I started the auction site not many people came and
bid i think they would rather wait until the price rises to make profit than to spend their coins.. something that didnt happen. The marketcap doesnt affect the increase of new receivers as much as the price rising did at times of pumps.


It would be fine if more receivers were
lining up because shares offer so many coins now but it isnt happening we are seeing them leave for reasons im guessing that the ones who wished to hold dont see anything materializing in terms of price. Every pump is met with a bigger dump becsuse of the implied value being so much lower. If we continue down this path we will have less and less people willing to support the receivers again no incentive to do so.

Check out diedcars writeup about creating the incentive via
hoarding although im offering a more general solution than writers:
http://devtome.com/doku.php?id=ponzify_devtome

If we do reduce block reward, I think we should make a staggered decline, maybe 1% per week until it reaches our target amount.

Anyway, since the coin is worth so little, we should try to experiment and see what works.

There are much more factors, and who knows how traders psychology is going to make them act.

Are they going to dump, do they like to hold, etc...

I think it's completely wrong to try and see a formula for success when all is pretty much psychology.

I wouldn't mess with the coin block reward AT ALL.

Isn't it the amount being created compared to the amount already existing which the block reward changes and which does influence price, rather than the total number of coins which exist at any given point?

But scarcity in this case is purely mathematical, and is a relative factor anyway?

Meaning it's exactly the same to have 1000 coins (of 1 billion) being valued 1$ each, or to have 1 coin (of 1 million) being valued 1000 $.
The amount of coins has nothing to do with its price discovery.
Having fewer coins will not suddenly make devcoin overall more valuable, will it? The marketcap will not change at all.

We will probably vote for it manually on a thread on coinzen.. Its not
about satisfying market its about trying to bring in some sort of scarcity which is scalable to not
choke the system when more people enter it. The number of coins is fine when therr are sufficient people onboard but with so little people getting all the coins its not good imo.. Anyways its something we can agree or disagree as a community.

so I heard some people here are actively thinking about reducing the block reward in some upcoming potential fork?

I think it's a bad idea... you should never change a coin to "satisfy the market"....

Numbers are completely arbitrary anyway... what if we have 10 million or 10 billion coins, it's just a question of decimal place.

Go to http://coinzen.net/ or http://coinzen.org/  (2 domain names, same forum)

Which forum? can you paste the link here please?

Great!  PM me, there is a new forum, we can discuss and I can get you caught up.

Sorry for the total inactivity guys... I will try and be more active with devcoin now. Lets get this coin to be worth something again!
-AM

Can't wait for the new release, it sounds like its going to be just what Devcoin has been needing!

Awesome, sounds great! 

Well decentralized voting, maybe the reciever file stuff... all things we can think about...

We an also start to think about the block reward, maybe reduce it based on the number of recievers there are for the round. Less recievers less block reward so that when few people are earning they dont get all the coins... this will make more coins as more people join...

Like right now there should be less coins per block because only a few people are recieving, and as a result we are very low in price, and market shifts to a buyers market where investors can buy without worrying about writers or devs dumping , while later on when more people are writing, there are more coins in more hands and chances of less dumping even if price was low..but chances are that price would rise as more people start to contribute (more devs, more writers, more revenue on devtome, devcoinauctions.com) and thus the cycle starts.... we are suffocating under the block reward right now because we cant get the cycle started, but once it does it will be exponential.

Voting, wow!

I'm trying to learn cpp so maybe I can help some time.

I did the port now we have unit testing snd stuff.. mostly me belovachap and develcuy over at ..

https://github.com/coinzen/devcoin

Feel free to drop by on our irc channel #devcoin on freenode.net  we are always there!