Author

Topic: What happened to Devcoin? (Read 181 times)

legendary
Activity: 2940
Merit: 1090
September 19, 2024, 07:48:13 PM
#7
I include -addnode=LFM.Knotwork.com and -addnode=Server1.Knotwork.net when firing up devcoind and that seems to be sufficient as those nodes will inform my newly fired up node of any other extant nodes.

I do check my devstart.sh script first though to make sure it has been updated to use those node names rather than the old defunct nodenames.

As to volume, so little DeVCoin was put into the game(s) that the big, regular transactions such as when the intergalactic mining Corps get paid by General Mining Corp for delivery of lately about 20,000 GMC worth of DEUterium (see DEUterium prices at http://galaxies.mygamesonline.org/deuterium.html , typically lately delivery fleets have been full so almost 140,000,000 units of DEUterium delivered at a time) there is simply not enough DeVCoin in the game or on the markets to require that that income be paid in DeVCoin toward the mining Corp's debts.

DeVCoin basically "screwed itself" out of all that volume action by never putting enough DeVCoin into the game for the debts, which once upon a time were all denominated in DeVCoin, to be paid toward in DeVCoin, so the finance Corps were forced to accept other currencies as payment and in the long term were motivated to find other things in which to denominate the debts.

So yeah there is very little volume, of course.

Also of course we only began migrating to the Stellar platform a few years ago from the Open Transactions server and are still working on building the buy-side order-books for everything versus XLM, which of course requires somehow getting hold of some XLM with which to do so; the faster XLM comes in, the faster we'll be able to build the buy-sides up to reasonable prices-in-XLM, so far we have only managed to build up most things to values a lot less than they ought to be so there isn't much sell pressure because most players are obviously not highly motivated to part with assets for much less than they are worth.

(Recall that they know what the calculated value of the "official treasury" of each asset, divided by the number minted, works out to, and are motivated to not "dump" prices down on the spot markets; they know the more "popular" the game becomes the more "dumpers" there will likely be so are it seems mostly more interested in getting assets "dumped" onto their own buy offers by "dumpers" than upon trashing the value of their assets by being "dumpers" themselves.)

Incoming XLM would itself be volume of course so the faster we obtain XLM to build the buy-sides with the better the volumes will look. Smiley

-MarkM-
member
Activity: 592
Merit: 94
I once bet 100 Bitcoins on a 1:2 chance and lost.
September 19, 2024, 07:03:34 PM
#6
It is still on two conventional centralised exchanges, FreiExchange and FreiXlite. A satoshi per DVC on both but the former is in bitcoins the latter in litecoins so a lot cheaper on FreiXlite.

That is actually an arbitrage opportunity actually, probably, most of the time, as I think usually that it - especially the in litecoins version - is usually a whole lot cheaper than on the Stellar platform ( https://makemoney.knotwork.com/stellar/dvc/ , see explorer page https://stellar.expert/explorer/public/asset/DVC-GBHAQ252S4Z4AQOM4BWIRC3UHAOJIKCZQBUJGD336YH2O7W2NKRXMHA5 )

Is there still some trading volume? And if I want to trade it, how can I get it off my wallet when the client does not sync? Or does it?
full member
Activity: 237
Merit: 166
September 19, 2024, 02:02:13 PM
#5
As far as I got it, you can mine Devcoin in conjunction with Bitcoin, so you get more value at no additional cost. Devcoin is also deflationary, a fixed amount gets issued per year, so that the inflation gets lower and lower.

And still, this coin has been inactive for a long time. Why? It was one of the rather big coins in its heyday.


All altcoins were created to generate quick profits for their creators based on the success of Bitcoin. Unlike altcoins, Bitcoin had a Immaculate Conception
Bitcoin had a "pure" or "flawless" beginning, free from the motivations or flaws associated with other cryptocurrencies (like quick profit-making or manipulation).
That’s why all altcoins will eventually go to zero sooner or later, whether they are deflationary or inflationary. It is impossible to create a new Bitcoin again. Bitcoin stands alone as the only decentralized, trustless, and censorship-resistant currency. Its history, community, network effect, and dynamic game theory make it as different from altcoins as astronomy is from astrology
jr. member
Activity: 266
Merit: 1
September 19, 2024, 08:38:12 AM
#4
Devcoin was indeed one of the most famous altcoins during its heyday. However, there are several reasons why Devcoin (and some similar coins) have become less active. Many new and more advanced cryptocurrencies are emerging, and Devcoin may not be able to keep up with the latest innovations and technologies. If there is not widespread adoption from users and industry players, a coin can quickly lose its relevance. Cryptocurrency projects that do not receive regular updates or developer support tend to become obsolete and eventually abandoned. A less active community or reduced fan interest can also cause a decrease in the value and activity of a coin.

While Devcoin may not be active today, its history and technology remain part of the evolution of cryptocurrencies.
legendary
Activity: 2940
Merit: 1090
September 19, 2024, 04:04:08 AM
#3
It has not "gone away", it never "went away".

It did suffer horribly from Unthinkingbit's unrealistic expectation that Devtome could bring income into the DeVCoin ecosystem by rewarding authors for posting crap that was not related to the free open source projects DeVCoin was directly supporting.

A lot of folk had unfinished novels they wrote generations ago when they were in high school or junior high, or other high word count blatherings unrelated to free open source projects of any kind let alone to ones DeVCoin was directly supporting; others copied wikipedia articles, again often totally unrelated to the project(s); it was probably a mistake on Unthinkingbit's part to reward plagiarism at all let alone articles not about the project(s).

It is still on two conventional centralised exchanges, FreiExchange and FreiXlite. A satoshi per DVC on both but the former is in bitcoins the latter in litecoins so a lot cheaper on FreiXlite.

That is actually an arbitrage opportunity actually, probably, most of the time, as I think usually that it - especially the in litecoins version - is usually a whole lot cheaper than on the Stellar platform ( https://makemoney.knotwork.com/stellar/dvc/ , see explorer page https://stellar.expert/explorer/public/asset/DVC-GBHAQ252S4Z4AQOM4BWIRC3UHAOJIKCZQBUJGD336YH2O7W2NKRXMHA5 )

DVC is to this day still the currency in which the Latest Rates include-file is denominated by default (that is, before you use the file to convert its values into whichever of the assets within it you want to convert to, or to any arbitrary other value you want to see it all denominated in).

Heck we even still produce historical tables and plots of asset values as denominated in DeVCoin, linked to from the main http://galaxies.mygamesonline.org/digitalisassets.html page.

Sorry I did not see your thread until now, I used to basically only watch the announcements section not the discussion section for new threads or bumping of old threads.

Basically DeVCoin is still a part of the Galactic Milieu so hopefully will be around for generations to come as more and more players jump in to build generational wealth... and maybe dynasties of planetary rulers and such. Smiley

-MarkM-
member
Activity: 592
Merit: 94
I once bet 100 Bitcoins on a 1:2 chance and lost.
December 11, 2021, 03:41:25 PM
#2
No one? I really wonder why Devcoin went away.
member
Activity: 592
Merit: 94
I once bet 100 Bitcoins on a 1:2 chance and lost.
June 24, 2020, 08:47:13 PM
#1
As far as I got it, you can mine Devcoin in conjunction with Bitcoin, so you get more value at no additional cost. Devcoin is also deflationary, a fixed amount gets issued per year, so that the inflation gets lower and lower.

And still, this coin has been inactive for a long time. Why? It was one of the rather big coins in its heyday.
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