Topic: [DVC]DevCoin - Official Thread - Moderated - page 230. (Read 1059181 times)

Ok, thanks. I was thinking that neither could be incorporated but wasn't sure.

How should I factor Devtome income into my tax return?

According to Forbes, cryptocurrency income is taxable!

With my blessings Raffleman.

- Nova

Neither devtome nor devcoin will be incorporated. Any ventures which need incorporation would be separate organizations.

"A sharp, catchy TV spot can easily cost anywhere from $100,000 or more to produce" Then it can cost anywhere from 250-3000$ / spot to show it on cable during prime time depending on he channel, time and what shows are being shown etc.

Chad

How much does such a commercial cost?

Cost of customer aquisition compared to average money gained from each customer is a big thing, an analysis of such things is probably a big part of any reasonable business-plan.

-MarkM-

roflmao, I just saw a Quibids commercial on TV Just sayin...

Meh, I think 100k is good, if you make it 10k then those with 10-50mill will just get the raffles every time.  Just my 2 cents.

This is idea sounds interesting but the 100,000 amount is  a little high for a chance at Devcoins. If the price goes back up to the 0.00000150 range, you are talking about roughly 15% of a Bitcoin to buy ONE raffle ticket. Maybe it should be in the 10,000 range.

Also..

Why not just have 1st, 2nd and 3rd places prizes and given the majority of the Devcoins collected to the participants?

Bittzy78

I have been working for years on the Galactic Milieu project, but it doesn't get much in the way of bounties, writing about it probably accounts for most of the shares I have managed to get in relation to it. Though the Digitalis Open Transactions Server is also part of it so the small bounty it got as a devcoin exchange (twelve shares, maybe, was that?) is also part of the Galactic Milieu project's share earnings.

The Galactic Milieu will be big too, it is like Crystal Space (or whatever that darn 3d open source RPG is called) combined with Second Life with lots more thrown in too. But that doesn't mean devcoin should throw shares at it over and above what its documentation can earn by being posted to devtome.

Maybe you could write all your business plans, research findings, privacy policies, help pages, user agreements and so on and so on on devtome to earn enough to buy a script license?

The Open Transactions server has taken years and we still do not have clients for grandmas to make it easy for people to use it yet it is only worth that initial few shares bounty and the one share per round I get as a developer working on Open Transactions. (Though maybe my developer share might equally well be intended to be for my other development work on various coins and such too or instead? Cannot remember the details.)

So sure go ahead and start an auction site and try to get it done before the bounties for starting devcoin businesses have all been snapped up.

Or maybe if auction sites are a super-big deal another round of bounties could be done, six shares for first auctions site, five for second, four for third etc or something, but that will make more sense once a free open source auctions system is available so people going for the bounty will have code they can use to run their sites.

-MarkM-

A good way to get this in the hands of the smaller businesses would be to have a way to do something like Square or Paypal with the credit card reader that will accept DevCoin *Like the Android Client* but will also allow them to either immediately or at thier whim exchange to USD *coinbase* etc.

Hi a DevTome question for a change

Are there any Policy documents on DevTome explaining what can and cannot be published there?

Thanks

On a different note a way of finding people that will take DevCoin as payment for services (ie a plumber or choose your own example ) would be useful.

See, this is why I am out... Good luck to whomever gives it a try for bounty or not...

Do it like Satoshi dice and all the other provably fair lottery/gambling sites.

For example hash all the hashes along with the hash of the block at which the "draw" is scheduled to happen. That resulting hash determines the winner in some deterministic well defined way.

Isn't there free open source code for provably fair dice / roulette / raffle / etc games yet?

Maybe we could do a raffle per round, with the hash of the last block of the round being hashed together with the hash of each ticket purchase to determine the winner by using the last ten or sixteen or whatever digits of the hash as a random number by putting a decimal point in front of it?

Unthinkingbit could probably whip up a python script that would not only do that but also, in addition, use the hashes of the receiver transactions to give all receivers one ticket per fifth of a share or something like that so that everyone on the shares gets gets a free raffle ticket. The decision of who won could be part of the scripts we run at end of a round to determine the shares people get in the next round.

So the announcements that the new receiver files are all uploaded could also include an announcement of who won the lottery.

Heck we could raffle shares instead of direct already mined coins, so the tickets become even more attractive because once you win, you will be getting more tickets too since you will be getting shares and shares get free tickets.

Well maybe not shares plural as prize, we already are giving out large enough numbers of them that granularity is probably starting to make noticeable variances in incomes. But maybe one share, and have the price for buying tickets be much cheaper than 100,000 devcoins.

-MarkM-

novacadian, that is a sweet idea! In fact I thought I would give it a try for you. There is no need for a web sight down in the islands. You can do it on any forum. This one or the new forum that is getting underway if no one has any objections. If anyone does then I will try to figure out somewhere else that payment hashes can be posted.

What I have in mind is this....

Each ticket on the raffle is 100,000 devcoins. You will send me that amount and the hash of that payment will be assigned a number. First payment I will make number 1, the second payment will be number 2. You get the idea. Every time someone buys a ticket I will post it to the forum so there is no funny business. You will see the number and the hash so you will know it is your ticket. You will also know how many tickets have been purchased and the payoff to expect. At the end of the week I will make a draw using a random number generator or maybe something more random and totally out of my control in case there are doubters in the crowd. Hmmm.... let me think on that. I will also make a wallet for this express purpose so there is no confusion. Anyone sending 100,000 devcoins to that wallet will get a ticket on the raffle. When the winner is picked I will send half of the devcoins collected to the winner. I will buy more devcoins with the other half at the going rate to steady the market. I will post the wallet hash once it is created and we can get this baby up and running.

PS. Just shout out if you don't want the postings to go to new forum and I will find somewhere else where I will just post the hash payments and leave the link where everyone can find it.

Stay tuned for the devcoin raffle!!!!!!!

Great, yes, what do they respond when asked when they will start accepting devcoin?

Also here is yet another idea for your auction site: set it up then see if you are by then too late to get one of the "starting a business that accepts devcoin" bounties.

How much were/are the bounties for setting up businesses that accept devcoins? I forgot. Six shares? Maybe it was twelve for the first few? Yet you want 45 or more?

-MarkM-

The demo looks usable, I used it not problem. If the ebay one is not good there is another link I gave. Either one will do the job we are looking to do. If we market it people will come. If there is a bounty I will do it and prove it.

Well that is another option, invest in many small risk:small reward projects, I just think we need to do something. The auction site would give HIGH margins and profits, but is alot of work. Funding smaller projects with less work less reward, but put more shares towards it is another way to bring in profit. Just that if you can assess that the risk is less than that with what I am dealing with here I think it maybe better... most of the projects on like cryptostock.com I think all carry a high degree of risk no?

BTW I am writing something up... so atleast I am dedicated enough to trying to do something instead of trying to "recycle" coins for a profit? Which one do you think is more beneficial to the project in the long run? I thought you were a programmer, atleast your a source admin, yet you can't even review my code to ensure everything is working properly? Or run the latest software to test the boundary conditions? Right, you don't have time for that, just like you didn't have time to update the source to 0.8.5 before.

If the guy who wrote the commercial script was running a site he would point at it, he only seems to run a demo.

We don't even have a free open source script for it yet so thinking about whether to actually run such a site is maybe premature.

Or lets do a real startup. We get a devcoin venture capital corp going then look for projects worth investing devcoins into.

A number of shares could be set aside for the devcoin project (if it existed: setting it up as a legal entity able to own shares and such would also be useful maybe) to buy shares of the venture capital corp so there will definitely be some capital available and so the devcoin project itself can directly benefit from the success of the venture business and thus indirectly from any ventures it finds worthy of investing in.

Meanwhile still if someone does make a free open source auctions script maybe that will provide the code lots of people will find is the inspiration they need to think about doing an auction site startup.

So far giving away shares to try to finance a site seems to have only brought us people, not profits.

Maybe if we just keep on running devtome eventually one of the people it finds for us will turn out to be the kind of totally dedicated person it takes to found a startup, though whether an auction site will turn out to be what they plan to dedicate their life to remains to be seen.

Currently the person who seems most dedicated to the idea of running an auction site seems not to even find the idea of doing enough writing for devtome to finance his dream to be worth doing thus does not seem a dedicated enough person to found a startup.
 
Even Shaggy was more dedicated than that!

-MarkM-

I would love to see this. I can almost guarantee you that the person that started Quibids, didn't do it on their own and they are spending a hell of a lot more then 40 hours a week making sure it got started. They may not be doing so now, but it has been years since they wrote the initial code.

Well maybe you could develop such software, prove it and all that, then try to convince us that we need it as much as bitcoin and open transactions so that you can get away with only working on it ten hours a month instead of forty and still get one share per round for being a developer?

Or even if we don't need it that badly, maybe by the time you have it done our market cap will be high enough that we will again be willing to put people on the shares list who spend forty hours a month working on free open source stuff that the devcoin project itself doesn't particularly need?

-MarkM-