Topic: Time to BUY DEVCOINS (1 penny each or less) - page 7. (Read 11699 times)

Quote from: Mahn on May 24, 2013, 10:08:34 AM

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.

I am a dev, and of course I'd love to receive 90% of the profits the miners do. I'm just having a hard time trying to picture a miner saying "Oh, hey, let's mine this coin which is 90% less profitable than any other cryptocoin that I could mine with this hardware, just for the heck of supporting developers, art and culture".

The idea in itself is not bad; I'm not against supporting creators. The problem I see is that it can't hardly grow if people are greedy, which they are.

You’re correct, people are greedy. But at some point a whole load of people are going to wake up to the fact that bitcoin et al are like a game of pass the parcel, except in this replicable deflationary game of increasing real interest rates in trade the person holding at the end loses. Like you I’m playing that game, and I think it's a fantastic revolutionary stepping stone. But as I don’t know when it ends and because I don’t have the time, inclination or capital to risk all I prefer to mostly stick with the admittedly slower but sustainable greed that comes from getting paid for doing something or receiving something wanted. I think others will come to realise this over time. Time will tell.

FinShaggy

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But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.

I am a dev, and of course I'd love to receive 90% of the profits the miners do. I'm just having a hard time trying to picture a miner saying "Oh, hey, let's mine this coin which is 90% less profitable than any other cryptocoin that I could mine with this hardware, just for the heck of supporting developers, art and culture".

The idea in itself is not bad; I'm not against supporting creators. The problem I see is that it can't hardly grow if people are greedy, which they are.

It is merge mined with Bitcoin, and pays out in Devcoin. So you actually get more than 10%, but you get it through other coins.
And merge mining is the ONLY option for Devcoin, so that's just how DVC mining works.

Mahn

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But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.

I am a dev, and of course I'd love to receive 90% of the profits the miners do. I'm just having a hard time trying to picture a miner saying "Oh, hey, let's mine this coin which is 90% less profitable than any other cryptocoin that I could mine with this hardware, just for the heck of supporting developers, art and culture".

The idea in itself is not bad; I'm not against supporting creators. The problem I see is that it can't hardly grow if people are greedy, which they are.

FinShaggy

full member

Activity: 196

Merit: 100

Google/YouTube

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.
Second (and I may get flamed for this): all of the deflationary cryptos are going to die in the long term, at least in so far as anything beyond hoarding/facilitating transfer of other currencies. A medium of exchange in a credit based society cannot be inherently deflationary as nobody will want to be in debt. So while there's no value with my bias in exaggerating the worth of devcoin in its infancy I'd bet the future of any successful crypto will look a lot more like devcoin than, say, bitcoin.

And Devcoin girl is making new videos

weisoq

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Quote from: FinShaggy on May 24, 2013, 03:55:03 AM

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Disclosure: I earn devcoins.

First: but what if you and others were also devs. 'Dev' for devcoin isn't just software/hardware. It's writing, art, marketing, other ideas.
Second (and I may get flamed for this): all of the deflationary cryptos are going to die in the long term, at least in so far as anything beyond hoarding/facilitating transfer of other currencies. A medium of exchange in a credit based society cannot be inherently deflationary as nobody will want to be in debt. So while there's no value with my bias in exaggerating the worth of devcoin in its infancy I'd bet the future of any successful crypto will look a lot more like devcoin than, say, bitcoin.

Mahn

full member

Activity: 140

Merit: 100

But seriously, no one wants to give away 90% of their profit to devs; regardless how good or bad the idea might in theory be, people are greedy by nature. Devcoin will never be substantially more valuable than what it is today, in fact I think it is one of the most likely altcoins to die in the long term.

Atruk

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Quote from: fran2k on May 24, 2013, 03:53:38 AM

Quote from: Atruk on May 24, 2013, 03:39:35 AM

Quote from: fran2k on May 24, 2013, 03:53:38 AM

I'll buy 1 million for $10 US BTC/LTC equivalent

I believe the going rate on Vircurex is roughly BTC1.6 per million devcoins at the moment... I don't think this year it has ever been so low as $10 per million devcoins...

It has been lower:

http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=dvc-btc&market=vircurex

Not this year.

Actually quite a bit lower... the lowest I've seen was around BTC0.3 per million devcoins, but the high was above BTC3 per million.

Devcoin value can move quite a bit...

FinShaggy

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Activity: 196

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WOAH,

Devcoin just jumped up in value by like 1/10th (DVC/BTC) in the past 30 minutes. Now is a GOOD TIME TO BUY. They could double or triple in value in the next few weeks. And there are only 7,000,000 left on the market in exchange for BTC... Like 10 Bitcoins could buy ALL OF THEM

FinShaggy

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Activity: 196

Merit: 100

Google/YouTube

Quote from: Atruk on May 24, 2013, 03:39:35 AM

Quote from: Atruk on May 24, 2013, 03:39:35 AM

I'll buy 1 million for $10 US BTC/LTC equivalent

I believe the going rate on Vircurex is roughly BTC1.6 per million devcoins at the moment... I don't think this year it has ever been so low as $10 per million devcoins...

It has been lower:

http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=dvc-btc&market=vircurex

Not this year.

fran2k

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Activity: 784

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I'll buy 1 million for $10 US BTC/LTC equivalent

I believe the going rate on Vircurex is roughly BTC1.6 per million devcoins at the moment... I don't think this year it has ever been so low as $10 per million devcoins...

It has been lower:

http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=dvc-btc&market=vircurex

Atruk

hero member

Activity: 700

Merit: 500