Topic: [DVC]DevCoin - Official Thread - Moderated - page 234. (Read 1059181 times)

LOL no lie, I will be looking for a flat somewhere outside of London at that point.

On the ebay auction thing, careful about this: You must request the free VPS rental in order to receive it with purchase, Each additional month is billed at 49.99 dollars USD.

Heh we all know that as soon as we start making any sort of good money that we will get noticed, and who will be the first ones on our backs?

Ok, I take it back, I don't want to work with you LOL :-p

I didnt know that, cool... I was actually looking at one that seems to be professional and better than the others I looked at... its $899 on ebay original price of $1200: http://www.ebay.ca/itm/171047705105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

There are others like: http://itechscripts.com/quibids_clone.html which is $240 + $160 for source and $70 for SEO package. I think the first one has some better featurs, but the second one would do the job as well.

THe first one (if we plan to allow fiat) would have ability to set tax codes up or just simply enable it and the current tax rates would be applied to where you live... and the second one allows you to simply say hey, your in USA? Sucks to be you, you cant register.

An important thing to remember is that I suggested a penny auction, not just a normal auction. These style of quibids style auction sites generate insane profit and are easily organized since the company is the only one who is doing the selling. What we want to leverage is the share system so that we can buy things and put them up for sale and generate profit on the go. Report these profits monthly, and spend the profit either to buy up the exchange rate or on another resource like maybe funding bounties or something.

By leveraging the share system we actually seperate ourselves from a traditional business so you can answer the question, "Why dont I just start this business my self without the help of Devcoin?", well devcoin is funding it so unless you have a continous funding stream good luck, with Devcoin we have it and so we use it to try to bring in a profit.

Im not sure what the right number is, but we need for it to grow as demand increases. Either the price rises of devcoin to allow for this or the number of shares are increased and sold at market to buy the things needed to sell. Anyways I'll try to start a writeup.

It would almost be easier to start with your own system. Godaddy doens't have one that I would personally start with.

if you search for auction on GoDaddy, you get: (this is for plesk, not cpanel)

webauction v0.3.10
Web Auction is a simple auction designed for organizations or individuals who want to hold an auction.

You know what, after that post, I would work with you if you were to do all the crap that was required for setting up a real business and not just throwing together an idea on a forum.

As I just edited into my previous post, maybe first an admin can click install on each of the auction systems that are available from the website hosting panel of their hoster, so we can all look at what is available off the shelf and start discussing whether it would even be possible to modify such a thing to do anything that we actually want.

In the process what we do actually want might become clearer.

Also maybe people could research all free open source auction packages to see if maybe the ones hosters offer on their panels aren't actually the closest existing ones to what we want.

Adding mods can wait until first we see what already is in whatever code we choose to start out from.

Such things can be part of site-admin.  It is maintenance, if we even can initially get anything even close to what we want.

If we cannot, then we might have to first determine whether trying to modify something that wasn't even designed to do what we want would be worthwhile compared to starting totally from scratch.

-MarkM-

I agree guys,

and noone said anyone is going to start without a proper agreed business plan. It is essential. People get excited its natural. I think an estimate should be done too, I dont think its "very little time" to install the auction system since I think we may or may not need to add rules and/or optimizations or changes based on our needs. I think after some research an estimate can be done. I am not even concerned with the amount of shares I would get aslong as its fair, but if I was to do it I woul dbe happy just to get a business that brings in profits! Getting the value of devcions up feels almost as sweet as getting paid. It would simply increase the value of the coins I hold today the same as getting paid via bounty. I can start a business template and we can all work on it.

I dissagree with this as well, for all the reasons put out above. First you have to change the "open source" auction site to accept and handle things the way you want with Crypto Currencies. Then still have the legal problems, the tax problems, the business and data problems. It is larger then just throwing a site up and expecting people to love it.

It should take very little time to install an off the shelf auction system.

After that, maybe put four people on one share a round as admins for it, ten hours per month each, and let them gradually modify it fancy it up etc toward doing anything we want/need it to do that, off the shelf, it doesn't already do.

If that seems to be making progress but not fast enough, consider adding some more one share a round admins to it, to increase the number of hours a month being put into it.

-MarkM-

EDIT: It might even be that installing an off the shelf auction system is done simply by clicking one button in the cpanel or whatever panel the hosting company provides to the website admin. So maybe someone who already admins one of our domains and uses cpanel or other similar type of panel can click on each auction site the panel offers then we can all look and see if any of them have anything useful and if not which is closest to being able to be modified/forked to produce what we want?

I agree that 50 would be good if it were done correctly, 100 - 150 would be better if it were done correctly. The thing is that through all the talking about it, the only thing that really stuck out was the idea was brought up and the first thing people wanted to talk about about was the name of the site. Really?! What about legal, the business rules / document, the data requirements, the security requirements, the payment processing and tax implications on the business. These are just a few of the things that have to be thought about. Is it going to be developed as an open source project and then let out in the wild for others to implement with their business rules? Was it going to be a business venture? There was no discussion about any of that, just really how the auctions would be held (which can't compete with Quibids, period) and about the name of the site. Can't see that being worth 50 shares when it was done. There would be too many problems with it. That is just that one particular project.

If there is a good project planned and put into action, I don't have a problem with giving them 200-500 shares if it is done correctly and shown that it will be maintained in the best interest of Devcoin. If iti s a piece of crap thrown together to get a bounty, then that isn't going to be in the best interest of the community in any way what so ever. It will just show that the community is out to make money at any cost (and I believe that 80-90% of the contributors are in this category) and the quality and effectiveness will suffer greatly.

With crapcoins like all (save maybe, possibly, litecoin) of the scrypt coins and all the non merged mined SHA256 coins trying to buy them back is, or is going some day to be, the proverbial "catching a falling knife": someday they will dive and never go back up to the price you bought them at.

But with all eight merged mined coins (BTC, NMC, DVC, GRP, IXC, I0C, CLC and XGG) you are looking at long term investment coins that most likely are going to be diving to a higher floor on each dive than they dove to on the previous dive. So for those you have the opposite problem: once you sell, will you ever get a chance to buy them back for less than you sold them for?

Luckily for us, right now we are still in a period in which even the merged mined coins still do go through up and down cycles, so as long as you sell at the peak instead of the trough you still have a good chance of being able to buy back lower than you sold at.

But this is why I say to put a huge spread of offers. That way you buy all the way down and sell all the way up, plus I also place my high offers way the heck higher than I expect them to go because it is the peaks that I don't expect that make me the majority of my profits. So I try to have "insanely" high offers out there ready to catch those.

Even luckier for we DeVCoin folk, we can actually earn coins. So even if we cannot buy back, we can write more articles.

Plus, of course, bear in mind again that I have been at this a couple of years or so: all my stuff on exchanges is pure profit, I already took home everything I started with plus lots of profit.

-MarkM-

But bounties are one-offs unless you think the mistakes are being repeated, then bring it up to the bounty admin and we should review how much a bounty should be worth. But at the same time we shoudl review how much each word is worth with bounties in mind as well?

I think the auction bounty of 50 shares is fine, its probably more alot more if we have to create it from scratch, I think 50 is good for starting from a template adding coin payments, setting up initial share offerings etc, all the ad banners and marketing. Its not just 1 person unless noone wants to do it. The benefits also outweigh the bounty as you have to think long term that if the business ends up being profitable that it will help anyone who holds the coins. Likewise with any business that we can come up with that would be funded via shares in some form or another.

Agreed.

No devcoins left at value X aka dumping at market? Anti-thesis of: Keeping some on the table for 2X while paying rent today?

Another factor you have to consider is IF price will ever let you recover your coins + profit. Like with any strategy that is probably the risk.

I don't want to get in an argument about it right now as I am not thinking exactly straight. But, from what i have seen of the bounties here with the "months worth of work and testing" for things isn't quite there. The main thing I have seen for development is lets get an idea and throw code at it without thinking about it. I am not saying that the writing is of par either, there are a LOT of article I wouldn't have given 1/5th a share to that got 10, but the coding isn't on par either with the bounties that have been given out that i have seen. I am sure there are a few that have been worth it, just like some of the writing. Just as an example the way the auction bounty has been discussed (and now dropped it seems) was handled. Not interested in working on it at all, and do not think it would be worth the proposed bounty were it to come to light in the current form.

Seems awfully strange that when a round ends and payments begin that there are large dumps every time. Maybe not you but in general. There were not really many bounties before so we ruled out developers as noone even bothered developing when you can write yourself a share per hour and in a week have yourself more shares than a months worth of developement and testing, having to worry about bugs/redevelopment/retesting cycle that takes usually much longer.

Maybe you haven't been here for long enough to see it, but I am generalizing based on what I have experienced and it is a shared point of view.

(Re post before last):

Well doesn't that work out to "I prefer to have no devcoins left but with them having a value of X than to have half my devcoins left and them have a value of two times X" ?

Or "I prefer to have no devcoins left and have them be worth X than to have 90% of my devcoins still so that they are worth 10 times X" ?

-MarkM-

Ok, I am drunk and a little sick of people putting all this crap on the writers.

Everything here is based on the writers just taking what they get and dumping it at market. The people that are writing at the moment, at least most of them, are not just dumping at market. They know the price has been upwards of 300 satoshis and will not dump all their earnings at 50 just because that is what it was at when they recieved. I am writing as well, and yes it is different then most of what I have seen on the wiki, but still, i am also doing the day trading thing like Mark is. That is the only thing I plan on doing with my DVC. I don't dump at market and I do buy back. Just pisses me off to see the anti-writer thing going on over the past weekend. Sorry for the rant.

Ofcourse it would make sense that price would skyrocket if everyone simply had intentions of buying back if they sold and even having that mindset allows for bullish behavior in a market. For example, if I earn a few million for writing code with original intentions of paying rent in fiat then if I now have intentions of paying rent but recycling the rest as reserves for a rainy day in the market then as before I would have probably just said heck with it I will just sell all of my coins and have a little extra spending money, or just leave the coins on the side not doing anything. It actually will help raise price I agree.

However since writers earn a heck more per hour than anyone else and seems the value for work is not there to allow for rising prices, then any rise the writers will quickly take profits and have that "extra spending money" instead of intentions of "recycling".

I think this will only change if they see a reason to have intentions of recycling instead of dumping... the change in mentality is a big one as in one your dumping for "whatever you can get" essentially equating the price to garbage or 0, and in the other you are saying "I would like to keep my devcoins" in some form or another. The reasons may come from new ways to spend that are actually interesting enough for them to change their mind. We have shares why not spend them to do such a thing? By not doing so we are essentially letting the price drop in the same way that not "recycling" doesnt create a base level to work off of for future price rises.