Topic: Time to BUY DEVCOINS (1 penny each or less) - page 6. (Read 11704 times)

Holy shit, I just looked at Devcoins and you can get SOOO many for 1 Bitcoin right now. Over 800,000

I recommend mining YacCoins, and then turning those into TerraCoins. In TerraCoins they cost about .001-.01 each. I bought several thousands of them using this method.

Luckybit - I don't have all the answers, but it's not just for developers and writers. The ethos is just one of open-source content. Music, art other ideas included, although admittedly that gets more complicated re. real open-source.

The portals are under constant development as far as I know, including a newer main site. There are also plans to introduce a rating and pageview/advertising element to differentiate between articles for example.

The currency and generation issue - can only speak for myself here but I have quite a different view on cryptos generally than most it seems. I don't think btc/ltc etc are currencies at all, they're commodities in terms of means and ease of particular transaction facilitations. This is in large part because they're finite and replicable. Devcoin avoids these problems, although not saying anthing's perfect. There didn't have to be billions of dvc, as far as I'm aware it was a conscious decsion to eliminate the decimals issue. I think it's completely arbitrary.

A share is a function of how many people wite and how much, how many people develop and how much etc. In the latest round for example it worked out to about 360k when factoring all and seems to falling each round as interest grows.

Gauging worth - determing npv requires an account of future cash flows. Whether generation is limited or not isn't the issue as long as it's forecastable and therefore able to built into decisions and transactions. The word issue for example - if the earnings fall to a level where it's not considered worth contributing, nobody will, so there'll be fewer articles of fewer words and the share will rise. etc

Anyhow I'm not a spokesperson for devcoin, but I do find it worth some of my time. If you have ideas/suggestions/questions, including on payment route, to contribute post them on the main devcoin thread. The more people are involved, the more decentralised, the better: https://bitcointalksearch.org/topic/devcoin-34586

The payment route has to be much more streamlined. Maybe some developers can work on streamlining it into a sophisticated E-lance site where individuals can work under a pseudonym but at the same time have all the accounting and tax stuff handled in the background, also of course escrow and the ability to use digital signatures so a person can verify they produced whatever work they produced, perhaps the ability to do independent contracting paid in Devcoins and eventually salaries and not just bounties. Bounties can only take you so far, people will want smart contracts and a sense of stability.


The only problem with Devcoin is it's difficult to determine exactly how the market determines how much a job is worth. How much is 1000 words supposed to be worth? How exactly do we control how much anything is worth when there are infinite amounts of Devcoins? We all know every word is worth something but how much seems to be difficult to determine and Devcoin hasn't solved it. $70-500 is a very large range, so perhaps a rating system can be built in at some point so that really talented writers can get bonus shares in proportion to their rating. This rating system would have to rely on digital signatures and could not be done anonymously though so it would have to be traced to real people and that is hard.

How much is this in USD per share? How much is 1000 words worth in Devcoin economics today and into the future?

Of course you are correct but is Devcoin the answer?  Many people have mentioned that there are infinitely many Devcoins and that is the main problem with the idea. Perhaps a fork should be made and it should be renamed Workercoin instead because Devcoin sounds too nerdy. At the end of the day we all need a way to earn coins and Bitcoins don't seem to provide many avenues to work for coins just yet which is part of the problem with Bitcoins. If more people could actually work for them more people would use them and it wouldn't be so easy to manipulate the price.

Devcoin does not seem to be the answer though. While you may need billions of coins if its merge mined with Bitcoin, to have an infinite amount of coins seems unnecessary. One thing should be clear, Devcoins are not a traditional currency they are a token currency. You can create infinite tokens, tokens are only used to determine who did what work so if it's 1 token per share or a trillion tokens per share it does not really make any difference. For the barter exchange of time for labor any token will work. Devcoin just in particular isn't working because we aren't all writers and programmers so how do musicians, artists, mathematicians, and those who offer products and services get paid?

When the market is expanded so more than just writers and programmers can get paid, but podcasters, models, and anyone who offers any digital content can get paid, that is when Devcoin will work. Devtome isn't really a good enough site either, there has to be many sites like Devtome for it to work and different sites have to fill different niches.

1,000 words is 1 share. There are 180,000,000 coins per round, evenly divided into the shares.

They are working on letting video makers get paid, and the bounties offer a lot of variations of things to do for payment.

You can get paid for posting pictures right now as well.

Those of you who write on Devtome - how much do you earn per word, how often do you get paid?

Personally I like devcoin - think it's a great concept

Devcoin's payment route realistically is much better than bitcoin. Look at the bigger picture. With bitcoin, mining is currently the ONLY way to earn bitcoin. With Devcoin, you are paid for your work, and miners get money as well. If it can be adopted to all forms of work with a fair system of payment, it would be more ideal than bitcoin

Your point IS moot, because I already explained that ANYONE can become just as invested as me by writing on Devtome this month.

I am not "pumping and dumping" which was your point, and it is moot because this thread is NOTHING but sharing information to get people on my level. Not so that I can be above anyone.

On your points about supply and demand, I think we’re talking at cross purposes. You’re referring to price I’m referring to value. Value as a currency. I’ve yet to read any explanation of why, in an environment when the price of btc rose above x (where x is a level regarded as prohibitively expensive to transact in) any particular trading group interested in btc’s benefits wouldn’t simply replicate the blockchain for their own purposes of trade. Or perhaps the abundance of recent altcoins is testament to this growing reality?

On what I think is your inference about Devcoin, it’s mostly arbitrary. The price of dvc was initiated with more decimals to facilitate whole numbers (ie btc/1000) in simple terms, and so the matter of quantity has to be referred to in terms of market capitalisation in reference to something, say btc, or usd.

That the supply of dvc is not limited is, in my opinion, its strength not weakness. Devcoin is purposefully a token currency. Token as in notes or coins. In order to maintain a currency, a medium of exchange, there must be facility to lend and borrow, short and long-term. Devcoin achieves this without reference to banks and debt money. But this aspect is ruinous for adoption of btc and deflationary cryptos beyond hoarding and perhaps facilitating the transfer of other currencies. I don’t think most people appreciate this yet, or perhaps they do and it really is pass the grenade? What is the natural equilibrium price of a replicable deflationary asset? What is the natural equilibirum price of a devcoin? I don't know. Devcoin initiates payment/reward and creates skin in the game beyond the prayer of first mover advantage, which is why I'm interested in it longer term.

Is this directed at me, if so I'm not sure what you're asking?

I'm interested in having a discussion on economic principles, so I will try to answer your point with a question:

How can long-term value as a currency (not a commodity, store of value, but a currency) be assigned to a replicable deflationary asset such as btc?

+1

Miners are essentially accountants - their job is really to keep the ledger, and they get coins each block as a reward. If we called them "accountants" rather than "miners" would they seem as glamorous?

Also - imagine an economy where the people who actually do stuff - create art, books, software, hardware, tools, grow food, build houses, make furniture etc - are paid nothing and only the accountants got the lions share. That sort of society would collapse - unless the model was restricted to a very narrow one where there were just two players - the speculators and the accountants...

Nice

I've got me a nice ~140k DVC locked away in TrueCrypt. Set a random password that I don't know and have the computer cracking it. It's 8 characters with any symbol, letter, or number on the keyboard. Good way to force yourself to go long. When it's opened ill see where Devcoin is at

True Shit

Devcoins rock!