Guys, when do you think devcoin could pop, I'm talking $0.10+.
I have been seeing many threads about what coin will pop in 2014 but nobody ever mentions dvc..
I have been seeing many threads about what coin will pop in 2014 but nobody ever mentions dvc..
That's because DVC is unlike every other crypto-coin, and I think most don't realize how it works, or it's potential yet, just like when bitcoins first started (there are thousand of people who rightfully belong on the bitcoin or devcoin share lists, but they just don't know about it yet). It's doing to open source what mining did to digital currency. The analogy is that of the 200M coins created per round, they're distributed based on the number of people doing work to earn them, instead of machines - with btc everyone competes for the transaction pot with hardware. With dvc, it's essentially the same thing but instead of calculating hashes, people are creating things. As time goes on, the btc hashes get more difficult as the number of miners increase, and similarly dvc payouts become harder to earn because the initial work has already been done, and more difficult work lies in improving it (as well as more people doing work). Collaboration on work is similar to how mining pools operate, and there is an opportunity for people to develop ways to make collaboration between strangers easier.
The only downside is that most of the value from cryptocoins come from speculative demise - that the coins are always going to become rarer, whereas devcoins are created indefinitely (and rightly so, since creative work is not used in the "transaction" system like with bitcoins et al). The upside is that speculation can still exist with dvc, with the added bonus that we get great open source stuff to share and improve. I honestly believe this is stuff that will make headlines once journalists get their heads around its nuances. It probably won't ever be as mainstream as bitcoins, because those are very easy to mine in comparison to this - this requires actual human effort from everyone trying to earn generation shares.
As for the price, for it to hit $0.10 people need a reason to buy them, and there is always going to be selective pressure towards more deflationary currencies over this one, because they are, after all, more deflationary - devcoins take this hit in exchange for allowing the philanthropists/advertisers a way in. Assuming maybe 50-80% of the payout is being cashed out each round, people have to be buying 100M-160M coins from the market with cash or another cryptocurrency every month. This means it needs an in-flow of cash around $10-$20M per month to support everyone selling the coins they earned @ $0.10. That doesn't sound impossible to me, especially if the seriously rich philanthropists who strongly believe in FOSS decide to back it. For it to get there, we need to give people amazing stuff that they just can't get enough of. That means great writing, great media, great software, great websites, etc, and if http://www.devtome.com and it's ilk become as popular as something like wikipedia I don't see why it won't disconnect from the value of other cryptocurrencies and take its own life - the price could very well be $1/coin in 3-10 years time.
Wow, thanks for the awesome answer hunter, I got into these coins because they were cheap and I like what I read on the devcoin site. I however did not know that these coins had no cap. I happen to own about 10 million dvc and I got them from a speculative standpoint. I think the no cap issue may hold these back for a while but I have strong hands, ether I get uber rich or they go to nothing. Either way I'm in!
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