Topic: [DVC]DevCoin - Official Thread - Moderated - page 326. (Read 1059181 times)

Thank you, Unthinkingbit and weisoq!


psybits, are you part of Bitcoin PR Buzz?  That's awesome!

There have been no objections, so Smeagol gets 48 shares for the bounty. He also gets 2 shares from Weisoq:
https://bitcointalksearch.org/topic/m.3094460

for a total of 50 shares, in round 30:
https://raw.github.com/Unthinkingbit/charity/master/bounty_30.csv

Hello let me try to "win" you over

90% of the mining goes to developers and admins for work. Developers signed up to devtome will only receive coin via writing or developing bounties.

As of now bounty sizes are assigned with consensus but I argue that allowing bounties to grow as more coins are mined gives chance for market forces to take over allowing a more efficient price discovery mechanism that will allow for greater work output.

Regarding coin generation there is no cap.. and this may seem counter intuitive to new comers in crypto since most coins have a cap ( mostly to make money as early adopters ) but the long term ramifications of having no inflationary force driving price may lead to less adoption of the masses when crypto coins blow up to the average joe level... What I mean is that when mining stops after cap is reached we do not know if transaction fees offer enough incentive to continue keeping the network secure enough for a global system.

Devcoin doesnt have to worry about that issue... also looking deeper you can see that as more people use it (demand increases) and supply is static.. this created deflation amd drives price up uniformly. Each year the amount of coin being created is exponentially less and less in ratio with total supply so it becomes scarce as people adopt and as time goes by.. this is why its a steal at these prices.

Do a google on devcoin and see what the news section says u get that for free.

Those are just marketer media articles. All you have to do is pay and you can have those links. Just sayin

Then you guys are well intergrated, :-) what,s your slogan over there,  "if it ain,t dutch it ain,t much " 
 Just kidding :-)

There's a lot of info here: Devcoin. Dinkleberg's post was right, except that the number of generation shares earned per round (month) will vary depending on how much work someone does and what that work is. Deciding on 'how much' bounties or earnings are is mostly about suggesting something and seeing if other people agree, consensus. The process is getting more detailed over time.

(I'm in the process of trying to collate info for a sort of FAQ so you could look at this devcoin summary, but bear in mind some of that is just my opinion only).

Good. Yes I do, problem is nobody, well nearly nobody outside Holland speaks dutch, including the Dutch.

90% does go to the developers, the developers get 180,000,000 devcoins a month in total.

As an open source developer, you'll get one generation share a round, as long as you keep developing. You'll also have the option to rate writers which will earn you devcoins.

Check this link out for more info:

http://www.devtome.com/doku.php?id=earn_devcoins_by_developing


The generation is constant at 50,000 coins per block, which is 1,000 times higher than the bitcoin starting rate. At a typical rate of 144 blocks a day, 1,008 a week, roughly 4,000 a month, that means the 200,000,000 devcoins are generated each month.
The generation is unlimited, the transaction limit is 21 billion devcoins, that is to stop someone from breaking the system by overflowing an integer.

Check out for more info:
http://www.devtome.com/doku.php?id=devcoin#generation_rate

hello,

can someone who is very fimilar with devcoin give me some answers why devcoin is worth to support? (exept the gaining value)

I have some questions i never find a quick answer.

1. i read 90% of the mining goes to the developpers.
  like i understood he has a registration site where open source developper can register and become devcoins for free.
  is that correct?

2. Who / how many persons decide how much each open source project becomes?

3. Is there a kind of fee/tax/demurage involved to grap value from other persons exept the miners?

4. How much coins will be genereated, is the a cap or a soft cap? (xxx million + 1 million per year for example)

Good work!

http://online.wsj.com/article/HUG1747587.html?dsk=y

http://finance.yahoo.com/news/devcoin-dvc-value-increases-300-073504074.html?soc_src=copy

Great article man!

Ik begrijp het nu :-)

Thanks for you second answer, thats a bit better for me to understand, do you have dutch roots? Because you Saïd you don,t speek dutch any more, or was that Google translate :-)

Long-shot, but in early 2012 I mined about one million devcoins at pool.devcoin.org, any chance in hell I can get them back?

Solid writeup!! I think if we are intending non geeky ppl to read it we need to identify some of the terms with explanations and outside links and sources to info.. I proof read and made my comments with (** and closed my comment with **) please see below:


In 2011 the unique digital currency Devcoin was launched; an ethically inspired open source project based on the Bitcoin protocol, with the unique mission of funding open source projects created by programmers, hardware developers, writers, musicians, painters, graphic artists and filmmakers worldwide. When the market cap(**Talk about how traditional market cap is different than crypto currency and that the caps are growing fast because it is emerging market**) of Devcoin reaches a certain point, a significant reward will be offered for the development of an open source spacecraft. Devcoin is one of the longest running blockchain based digital currencies(**What does this mean? what is a blockchain digital currency??**), which means the currency’s network itself is well established and has proven itself to be robust and reliable(**How? Talk about the connection between network hashrate and security of transactions ?**). The main difference between Devcoin and Bitcoin is that Devcoin is merge mined(merge-mined) with Bitcoin(**how many merge-mined coins are there? talk about piggy-backing bitcoins security with connection to information above**); Bitcoin miners can mine Devcoin and Bitcoin simultaneously, essentially earning “free coins” for supporting the Devcoin network.

In the last month, Devcoin has risen in value from 0.00000014 per BTC to 0.00000053 per BTC(**Maybe talk about price in mBTC not BTC, hard to read all those zero's, maybe mention what mBTC means and use it below**). Each block of DVC yields 50 000 Devcoin (**What is a block? **) – so Devcoin is often traded in lots of 1 000 0000 or more: 1 000 000 DVC(**mention the mBTC thing here instead of saying 1 million dvc**) has increased in value over 300% from $145 USD to $548.90 USD(**price in mBTC?**) in the space of two weeks. Devcoin’s market capitalization is currently $3 239 000 USD. (**Talk about the need for crypto currencies to standardize over mBTC in the future because of the argument that the value of a bitcoin will be too high so phsycologically we will want to use mBTC instead of BTC values, maybe provide a link to the discussion somewhere on bitcointalk.org, talk about how Devcoin already solved this issue by starting off with 1000x the block size of bitcoin**)

Being an established alternative digital currency( **To bitcoin, acts more like a partner rather than a competitor **), Devcoin has a healthy and growing ecosystem with over 15 merchants and exchanges supporting DVC. Books, precious metals, jewellery, computer hardware, hard cash, press releases, writing services, lotto tickets, digital currency investments and much more can all be purchased with DVC. Online merchants worldwide can easily accept DVC as a payment method by using CoinPayments, for integrated Devcoin payment at checkout and invoicing in DVC. The popular digital currency exchange platforms Vircurex and Crypto-Trade both support Devcoin and Bitcoin trading, while Cryptsy offers a Devcoin to Litecoin currency pair.(**Talk about how earning devcoins is the only ways to work to earn crypto currencies right now, including bitcoin. Only way to acquire any kind of crypto currency without fiat is to work for Devcoins**)

At the current market cap, significant bounties payable in Devcoin are being offered for an open source aircraft (a hot air ballon which is at least 3 metres in diameter), medicine, fortified food, a boardgame, and a new open source toy. When the market capitalization of Devcoin reaches a certain point, a massive bounty will be offered for the development of an open source 1 seater spacecraft which can exit and enter the Earth’s atmosphere. Digital currency enthusiasts who are also passionate about easier access to space for all of humanity, can support this cause in a practical way by supporting Devcoin.

Anyone worldwide who wants to work and produce open source material can earn Devcoins: writers can sign up to Devtome(****), Devcoin’s open source wiki and be paid in DVC for their work. Devcoin is also currently reaching out to open source developers in IT, engineering, arts, sciences and humanities who wish to receive Devcoins for their work. Anyone, anywhere can apply for funding by joining the bitcointalk forums(**Online chat forum bitcointalk.org **) or contacting [email protected](**through e-mail**). Devcoin ensures that no one on the planet who wants to work needs be completely out of money: anyone who does good work will get some Devcoins. In this way Devcoin levels the playing field for anyone worldwide to earn digital currency and participate in this erupting space.

With its unique paradigm changing mission, its network integrity through being one of the first and most established Bitcoin alternatives, and its recent 300% value increase: Devcoin is a wise choice for investors, enthusiasts, open source developers and visionaries worldwide looking to engage with the explosive digital currency space(**add something about how they can be early adopters**). As the emerging digital currency industry continues to experience a break out, Devcoin is better positioned than ever to begin delivering in an even bigger way on its unique and world-changing mission.


For the technically minded here are the Devcoin (DVC) protocol details:
   
    Similar to Bitcoin, Devcoin uses the SHA-256 cryptographic algorithm
    10 minutes block target.
    50 000 DVC per block reward, to ensure there is no deflation this block reward never decreases. 5000 DVC goes to miners (who can merge mine DVC for free when they are mining Bitcoin), and 45 000 DVC goes to the open source developers and projects on the receiver files.

(**Network strength coming from thousands of specialized asic hardware distributed through the world, puts it in a positon of being one of the strongest and most secure crypto-currencies next to bitcoin)..this might make them think this is the next best thing!**

Devcoin Press Release is out: http://bitcoinprbuzz.com/devcoin-dvc-experiences-value-increase-of-over-300-in-two-weeks-the-ethical-merge-mined-bitcoin-alternative/

It'll be on Wall Street Journal, Yahoo Finance etc shortly!

Awesome!    If I may I would like to propose a bounty for an open-source toy.  Since the market cap is over 1,000,000, the toy bounty can now be funded.  http://www.devtome.com/doku.php?id=devcoin_bounty#capitalization_1_000_000_usd  The toy's design would have to be public in order to get the bounty.

Also, if there are no objections:

The bounty will be paid out tomorrow.  I am working on changing the music, so don't worry! 

According to http://coinmarketcap.com/ devcoin has increased from the 22nd largest market cap to the 19th largest market cap, at $2,879,152 and with an increase of 18.88% in the last 24 hours.

I'm not sure but I think you have to download everything in Unthinkingbit's charity repo, put it in a folder, and run the target script.