Topic: [DVC]DevCoin - Official Thread - Moderated - page 235. (Read 1059181 times)

Yeah for sure. But I have less than a billion DeVCoins, out of several billion. That is a lot of bitcoins someone(s) got if they already sold the billions, with which just as many billions could be bought back cheaper than they were sold for if only they would use those bitcoins to "back" the currency.

Sure the floor they could sustain would drop and drop as more coins are minted, but at least some floor could be sustained.

Take a look at http://galaxies.mygamesonline.org/digitalisassets.html

All the currencies on those tables and plots that are worth way the heck more than bitcoin - every one of them - did it by actually backing their currency instead of just dumping it.

That is, each coin they sold they kept the vast majority of what it was sold for to use as "reserves" with which to buy it back.

Bitcoin should never have dropped lower in price than those, they all expected bitcoin would skyrocket. But no, too many miners dumped their bitcoins it seems without holding the majority of what they sold them for as "reserves" with which to buy them back (albeit a little cheaper than they sold them).

So it kind of looks like the answer to "why are some of those currencies worth lots of bitcoins per coin" is "because they actually stand behind their currency with their 'reserves' instead of just dumping it".

-MarkM-

I think there being so many doge coins its really speculation on if people are holding or if they are just looking to make a quick profit. Since there is a max of 100 billion but it is inflation controlled per minute (diff adjustement) then it is limited supply vs demand problem that will drive price. Volume is high enough it looks like to justify higher prices here, aslong as there is a seller there is a buyer in a transaction. However 6-10 billion are already mined so someone is sitting on a big chunk(s) waiting to dump and then the floor is going to be tested.

Problem with creating floors in devcoin is that yea statistically your likely to keep price from falling below 1 or 2 satoshi's in your example but not mathematically since there is no supply cap. You have to innovate to drive price up truely... which is what I am trying to do instead of simply selling and then buying again. I will bet that since everyone is trying now to do the same thing you are that the cycle will break sooner rather than later, IF and only IF we get a business going that will start to drive in profits (bringing in some solid speculators, to set a new floor). Once devtome gets some real competition we will start seeing rises in marketcap and bigger projects/businesses being funded. Then the people putting floors at 1 or 2 sat's will be kicking themselves for selling because the cycle doesn't repeat,  but it rhymes and it didnt get low enough to capture your bids again. It makes sense in your case as you already have a large enough stash on the side so you won't be kicking yourself but in most of our cases we would be as we would be playing with our entire stashes to do anything meaningful.

Well bear in mind that bots, being always-on 24/7, probably imagine they can afford to not actually place their low offers until the price actually gets low.

Also they are foreced toward that at least somewhat on Vircurex by their limited number of offers they are allowed to have on file at any given moment, whereas we web-browser uses can have thousands upon thousands of offers on file waiting for the bots to get around to them.

So bots let people re-cycle their capital faster, needing/using less total capital to in practice effectively cover more range of price with less capital than we who must place all our offers ahead of time so we can afford to nap once in a while.

The capital the bot has is its limitation though. Anyone with more capital can blow right on past the bots to reach our long-standing highball and lowball offers that, when they do get reached, make us much more percentage profit per offer than the bots get playing within just the gap between our lowest remaining highball offers and our highest remaining lowball offers.

-MarkM-

Your thought pattern and speech impress the hell out of me!

Anyhow on the subject. I have about 100k to play with at the moment and all are selling over 75 satoshis (at steps of 5), I have about 50k in buy starting at 50 (going down in steps of 2) satoshis. Nothing is moving today, must be the holiday But I am keeping up with it as long as I can! Love your outlook and insight, keep it coming!

This requires that you take the bitcoins or litecoins or whatever that you sell your devcoins for and use them to place buy offers, offering to buy back your devcoins for less than you sold them for.

One or more large holders of DOGE are doing that with DOGE. Basically each time a bunch of suckers buy DOGE at high prices, almost all the bitcoins or litecoins or whatever they buy them for are put back onto the buy-offers side of the order book, which is the side that most of the profitability sites and such look at. (Though probably they really should be looking at the 24 hour volume-weighted moving average or something like that, which I haven't so far seen available anywhere.)

On Vircurex I have been trying to do this for DeVCoin, piling up so many buy offers that so far the effective floor on price might now be closer to 50 Satoshis than to 30 Satoshis. Last cycle I did not have enough offers piled up in the under fifty Satoshis price-range to keep the price at 30 or more Satoshis; it fell under 30 for a while. This time though it didn't fall much under fifty before seeming to show signs that it might be going back up, and I have piled even more buy offers down in that range to hopefully provide even more resistance next time around.

But it is going to take a larger and larger pile of offers under fifty to support moving the floor any higher; basically in order to double the buy offer that is sitting at fifty is going to require doubling the buy offers sitting at each Satoshi of price lower than that. Or more even since it seems to make sense to have the resistance (aka the size of the buy order at a given price) climb much faster than the price lowers so that each Satoshi lowering of price will take way the heck more dumping than the previous Satoshi of price did.

So lets try to get five or six billion DVC of buy offers at one Satoshi per DVC price so we can support having two and a half or three billion DVC of buy offers at two Satoshis per DVC of price so that we can support 1.66 to 2 billion DVC of buy offers at three Satoshis per DVC of price and so on, gradually building up the level of the price floor.

(Actually if we can manage enough buy offers to be offering to buy every DVC that exists plus all those to be minted over the next few hours or days, that whole offer could serve as a floor without needing more offers lower under it to support it. But until we get there building a pyramid of offers seems more effective so instead of one big wall at one price, that someone with more coins than the wall offers to buy could smash through, we instead make it take more and more and more coins to smash through each satoshi of price of resistance.)

In essence the person or persons supporting the DOGE price is evidently of larger pockets or larger desire/intent of actually supporting his her or their currency than DeVCoin receivers in the aggregate seem to be. They pump it to move it higher on the mining-profitability charts so that it attracts more miners and buyers, which raises it on those charts so it attracts more and so on. As long as the largest receivers of DeVCoins do not bother to do similarly but prefer to just dump the more DOGE can be expected to do better than DeVCoin.

DOGE is of course going to drop back down after its peak of this cycle. I wonder how strong a pile of buy offers they will have waiting at and under 50 Satoshis per coin to prevent it going even lower next time than it went this time?

Are they even building a floor that has a drop dead solid foundation, or mostly just pumping, putting offers to buy up high but without back-fill solidly beneath it such that each Satoshi lower of price has more buy offer waiting than the price above it does?

I have been choosing how large a buy offer to place at each Satoshi starting from one Satoshi by dividing the offer at one Satoshi by the price in Satoshis, so that I am offering to buy half as many at two than I am at one, and a third as many at three as I am at one, and a quarter as many at four as I am at one, all the way up to a fiftieth as many at 50 as I am at one...

Even that might be too smooth though since it really says I am willing to spend at each Satoshi of price the same number of bitcoins.

I suspect that better would be to be offering to spend more bitcoins per price as the price offered goes down.

Like maybe offer to buy a quarter as many at two than at one, a sixth as many at three than at one, an eighth as many at four than at one, a tenth as many at five then at one, all the way up through a hundredth as many at 50 than at one...

-MarkM-

Beer and Coffee! As a developer mostly Coffee or JOlt or something. And e-cig juice.

Groceries. Either through gift cards to retailers like Wholefoods (or an option to buy gift cards for smaller retailers).

Wow. I just read that once, and have been drinking and couldn't quite wrap my head around it!   I will read it again and comment a little more on that one!

doge to the moon!
and devcoin too!

Doge is now doubling devcoin and 10x the volume, cmon guys stop dumping lets get it up just like she said.

Actually I think it is a total wordcount since forever, minus the shares already paid since forever, so for example if you later edit an article down in size by 1000 words after having already been paid for it, then next round post a new 1000 words or edit an existing article upwards in size by 1000 words, the grand total since forever will still not have increased.

So it is not simply how much you posted in a given round it is how much your grand total of words that are still there has increased.

Then too there is now a quality factor. So if someone had been paid for a lot of words whose poor quality had not yet been reflected in their quality factor, then some reviewers looked at it and rated it as poor quality, the new total shares it would evaluate them as having earned would be lower so there would be a shortfall to make up - more words wanted - before their total actually paid out was exceeded again by the total earned.

They get paid any shares outstanding in excess of what they have in total been paid already, using the latest rules and quality-ratings to determine how much such work of theirs as is still present that round is nowadays calculated to be worth.

(Which unfortunately would complicate any change of how many shares people ought to be paid, since right now it is based on words still present now not on during which rate of pay's era the words were written. If we did decide authors should get 1/5 of a share per 1000 words for example oops that would be retro-active. Trying to track which words were present during which payscale era could get very hard... People would suddenly have a huge backlog to make up just to appear as having earned what they already got. I guess maybe though that could be kludged by simply reducing by 1/5 their purported grand total already paid. Hmm yeah maybe its not so hard afterall... just would need a kludge like that which then accountants and so on might go hmm at until the kludge is explained to them.)

-MarkM-

You have a limit of 50k words per round. If you write more than that, it will be counted for the next round.

There really is not a limit on article or page, "Writers should write what they know best. Non fiction articles must have proper punctuation, spelling and grammar. In fiction, the spelling, grammar and punctuation of quotes should be what the characters would use. For poems, the style is up to the writer. In all the cases, the writer must proof read their work." Just meet these requirements and your page is good! Add as much on the topic as possible but for little know topics you will not need as much. Most pages though are between 1,000 - 2,000 though.
Keep up the great work!
-AM

So every word is counted in the total but the payout will be rounded up to the nearest 1k, got it.

Any info on the limit per article / page? Is there any?

Ah that makes sense haha I was looking at the wrong sheet.
Thanks,
-AM

I would think the only places that could decide to do that were the online wallets that know how much is in them. No way to really tell what people have in their wallets.

This may be unfeasible, but if devcoin paid stake, wouldn't it encourage people to hold, therefore cutting back dumping?

Sorry if this is a stupid question.   

I believe it will give you a new address everytime one is used (best practices and all). I found it annoying too, but the old addresses are all there in the address book and you can use them all you want, it will just keep making new ones for you though

It is done in blocks of 1k. There are no decimal shares. Though 1.8k words will give you 2 shares. It is a total word count of all articles that round, so if you have 1 for 1.2k and another for .6k then you have 1.8k which rounds to 2 shares.

Chad

Thank you.