Topic: [DVC]DevCoin - Official Thread - Moderated - page 368. (Read 1058949 times)

I was using the price that Notabot said he paid for an ounce times the price of Devcoins which this morning was 40 sat, then multiplying that by the Mt. Gox price for Bitcoin (which I know is higher than it should be).  In my estimation, I still thought it was a good deal, even at $50, but if my math was wrong, then definitely set the record straight

You have my kudos for offering silver for Devcoins.  I hope you get lots and lots of business, and that this works out really well for you

When the spam accounts were deleted, most of the users were accidentally deleted, including all of the admins. We just found out how to get back into devtome. Accounts will have to be restored manually. If you can not login to devtome, please message your sign up admin, if your name starts with A-F, please message FuzzyBear, if your name starts with G-O message Wiser, and if your name starts with P-Z message Worldinacoin. You should include your email address, but not your old password.

They'll restore your account, and send you a new password. Then you should login, and change your password to what it was.

Because the sign up admins will get many messages, it may be a while before they can get around to restoring your account.

I'm also not sure where you guys are getting $70 or even $50 per ounce

The silver is $37 per ounce and that includes shipping...coinpayments updates automatically to the market price, it's not like I have anything to do with it. Like I said, it's all percentages and it's a constant. That doesn't change

http://www.igotspots.com/walkingliberty.html

Nowhere does it say $50 or $70...

We only make about 5% on a single coin being ordered. We work on percentages not dollars

The packages are insured and shipping is a flat rate

Good luck

Devtome looks the same as it did when I checked a few days ago. 

Any progress to report? 

1. I have dealt in measurements

2. I know I will have to mark it up (compared to what I pay), but it will not be 2x + The regular price at the time.

3. I don't feel like reading a block of text where the beginning had 2 such unfounded arguments.

Fin, have you ever sold silver before?  If you deal in physical silver, there's no way around marking it up, because you have to consider your replacement cost, and some profit for you.  You're already dealing with a very volatile market (silver spot price can fluctuate wildly) which makes it risky to keep any inventory on hand.  When you add taking Devcoins for it, then you're adding another fluctuating market (which at this point trends downward) on top of that.  So unless you want to sell at a loss, you are going to have to either sell in bulk (thousands of ounces a day), or you have to mark up over spot price substantially.  And after all that you will run into customers who want to insist that you give it away for a buck or two over spot, and once you try to sell it, you learn very quickly why that is not reasonable unless that customer is willing to buy 1000 ounces at once, and even then, only if you have a supplier who is willing to sell to you at 75c over spot.


Until the circle closes, where everyone with Devcoins has a place to spend them, and probably for some time after that, there will be holes where people have to trade out Devcoins, and people have to hedge against their potential losses.  I think it works best in the long run if people buy things based on wanting what's for sale rather than out of altruism, although I might bend that with the silver--it's really not that much of a markup when you consider all the things that go into selling silver--and as one who has sold silver and who isn't prepared to offer it for Devcoins at this point (too much risk and I'm too small), I appreciate that this dealer offering it for Devcoins is taking a big risk, and I do think in this case it's worth paying a bit more for my silver to help make it pay off for him.  I'd very much like to see him offering silver for Devcoins next month too.  He said October was a trial period.

Oh, I wasn't disagreeing, just playing devil's advocate. I too have begun offering items for sale via DVC and I too would cash some out if I needed to. Any more places to spend DVC are good, I just don't want anyone to waste their efforts laboring under the false pretenses.

Hmm might download a wallet soon.

yup its good news and creates money velocity.. Thats what will drive demand.

You have to start somewhere.  Of course he's going to trade out his Devcoins... until someone else opens up a shop with a product or service he would want to spend them on.  Why don't you call him up and ask him what he would like to buy with his Devcoins?

Too bad buying from iGotSpots isn't a hedge against dumping--what do you think he's going to do with those DVC? Keep them because he 'cares' about the cause? Wrong. He's going to dump them on Cryptsy or Vircurex and take his BTC from them because he's got to pay the bills.

His metals for crypto business is great on the surface--if you feel like paying more than market value for little bits of metals. As a hedge against DVC (or any other coins) its not sustainable, as he raises and lowers the price (and market padding) daily depending on what he can trade out the coins for. Just food for thought...

I never even heard it dropped to 60, so my guess would be because when it was at 60, it didn't stay there long enough to effect the price of DVC.

Awesome!  I was going to buy one but unfortunately 800k DVC is about 40% of my total DVC savings... 

It would effect devcoin the least in absolute price than any other alt besides infcoin. So what about when btc dropped to 60 a few times why didnt dvc rise? They are correlated since dvc is a token but dumping throws it off. At most devcoin would have moved 3 cents in response to btc moving up or down $10. Has nothing to do with it is what im saying... price stability is more inversly correlated with devtome dumpers for now... who knows wat the future holds but it is true now.

Mt. Gox

Last month was stable, but this month Bitcoin has gone up in value.
Last month is stayed around 138-142, it dropped to 135 and now it's been around 145 for almost a week now. It's all happened slowly, but it's been about a $10 change, which effects a coin that is worth .0000003 BTC