Devcoin

[alyssa85]

DVC prices has been slumping over the past few days...makes me a sad barnacle

On vircurex, the volume for the BTC/DVC trade is a colossal 15,694,970.8426  So I'd say someone sold almost their entire holding!

[jackjack]

Yeah, he could have divided his dump not to kill the price

[jasinlee]

Unthinkingbit can you check on the contest submitted articles for me on devtome.com tomorrow for me please.

[metazilla]

Yeah, he could have divided his dump not to kill the price

Over time won't this become a huge problem? People earn devcoins, want to use them to buy stuff, sell them for BTC, then either buy stuff with the BTC or sell the BTC for fiat. It seems to me that that there is an imbalance here, because no matter how many people think Devcoin is awesome and want to support the project, there are going to be people in it for the earnings and selling off their coins.

So what is the solution to this? How can we get people to buy DVC with BTC? The only thing I've seen so far that encourages a net influx of BTC -> DVC is twobit's ASICMINER passthrough, since it buys DVC with the BTC earned. That said, it suffers the same problem, in that people will want to spend their profits in some way.

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

[Balthozar]

Yeah, he could have divided his dump not to kill the price

Over time won't this become a huge problem? People earn devcoins, want to use them to buy stuff, sell them for BTC, then either buy stuff with the BTC or sell the BTC for fiat. It seems to me that that there is an imbalance here, because no matter how many people think Devcoin is awesome and want to support the project, there are going to be people in it for the earnings and selling off their coins.

So what is the solution to this? How can we get people to buy DVC with BTC? The only thing I've seen so far that encourages a net influx of BTC -> DVC is twobit's ASICMINER passthrough, since it buys DVC with the BTC earned. That said, it suffers the same problem, in that people will want to spend their profits in some way.

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

FinShaggy and I have been saying this for a long time. We need DVC markets and whatnot, or else DVC is nothing more than a token.

[Barnacle_Ed]

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

Wholeheartedly agree. Other than computer parts and setting up bounties in this thread, I frankly see little in the way of Devcoin services...


Perhaps we should start a gambling site and/or a sale hub like Atlantis or BitMit. Those seem to be (relatively) simple ways to get some real DVC value in a short time.

[Barnacle_Ed]

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

Wholeheartedly agree. Other than computer parts and setting up bounties in this thread, I frankly see little in the way of Devcoin services...


Perhaps we should start a gambling site and/or a sale hub like Atlantis or BitMit. Those seem to be (relatively) simple ways to get some real DVC value in a short time.

Nice idea, but gamble isn't really something that would give coin a value We need some serious service accepting DVC

It would be a start, at the very least. There's nothing like gambling, alcohol, and sex to inherently boost the value of anything...otherwise Las Vegas would just be a random patch of desert


I'm tempted to throw a few things for DVC together. My schedule is crazy busy for the next 2 weeks though since I'm gearing up for a hackathon on the 15th.

[jasinlee]

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

Wholeheartedly agree. Other than computer parts and setting up bounties in this thread, I frankly see little in the way of Devcoin services...


Perhaps we should start a gambling site and/or a sale hub like Atlantis or BitMit. Those seem to be (relatively) simple ways to get some real DVC value in a short time.

Nice idea, but gamble isn't really something that would give coin a value We need some serious service accepting DVC

It would be a start, at the very least. There's nothing like gambling, alcohol, and sex to inherently boost the value of anything...otherwise Las Vegas would just be a random patch of desert


I'm tempted to throw a few things for DVC together. My schedule is crazy busy for the next 2 weeks though since I'm gearing up for a hackathon on the 15th.

When we are done with the ad network it will be be one good service. But I would suggest someone create an anonymous hosting/vps site that accepts dvc, possibly registrar also.

[weisoq]

the first thing devcoin needs is a liquid dvc/FIAT exchange market

[jasinlee]

the first thing devcoin needs is a liquid dvc/FIAT exchange market

Well....no comment yet.

[alyssa85]

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

Wholeheartedly agree. Other than computer parts and setting up bounties in this thread, I frankly see little in the way of Devcoin services...

What we really need is an Ebay style Devcoin platform, where members of the community could list goods and services and buy and sell stuff from one another, all in Devcoin. So, if someone wants to buy from amazon.com, instead of cashing out to fiat to buy, they can just buy amazon voucher codes for Devcoin from someone else on the platform etc. I'm sure it could be expanded to include loads of things.

[EmilianoZ]

It seems to me that the real solution would be a way for people to spend their DVC directly, without affecting the exchange rate.

Thoughts?

Wholeheartedly agree. Other than computer parts and setting up bounties in this thread, I frankly see little in the way of Devcoin services...


Perhaps we should start a gambling site and/or a sale hub like Atlantis or BitMit. Those seem to be (relatively) simple ways to get some real DVC value in a short time.

Nice idea, but gamble isn't really something that would give coin a value We need some serious service accepting DVC

It would be a start, at the very least. There's nothing like gambling, alcohol, and sex to inherently boost the value of anything...otherwise Las Vegas would just be a random patch of desert


I'm tempted to throw a few things for DVC together. My schedule is crazy busy for the next 2 weeks though since I'm gearing up for a hackathon on the 15th.

When we are done with the ad network it will be be one good service. But I would suggest someone create an anonymous hosting/vps site that accepts dvc, possibly registrar also.

I still think we need to control the amount of devcoins in the market, I know the idea of having less coins is not a nice one ever, but think about it from this side, if we are able somehow to rise the value of devcoins what you win in value will make it up for the nominal loose, in other words, devcoin value now is 0.000001 of a bitcoin what if you spend half your coins to make it 0.0001.
With this value the services you are talking about here will start to appear out of nothing, like going downhill, while trying the other way around will be a lot harder.

[EmilianoZ]

I have a plan:
We could set a percentage for demurrage (destruction) for say.... every...  year..., half year...or two years, this will have the media impact we need to have the coins promoted, and it will be sort of free.
At the same time we set a maximum quota to mine during a given time span, could be the same as for the time before the demurrage is set. The mining dificulty can be adjusted to comply with the quota.
Doing this we are not attached to a hard limit for mining new coins but we will be able to control the amount of coins available in the market. Lets remember this is a matter of offer and demand, the supply right now is soooooo big, no one worries the demand would be higher than the offer, therefore the value drops.

[EmilianoZ]

I understand you are saying gambling, sex, etc... fuels demand, but right now it might not be enough

[Ethicoin]

I understand you are saying gambling, sex, etc... fuels demand, but right now it might not be enough

DVC has more than enough projects in the works.

For example the DVC advertising network.

If someone could clone the DGC marketplace for DVC this would be absolutely awesome: http://dgcmarket.com/index.php?

DVC has such a strong community I don't see it dying (or relying on dodgy gambling sites) anytime soon.

 

[Dexter44]

We could give a part of the monthly share to open source platforms, starting with wikipedia. They will give to writers and programmers a small reward, giving back to devcoin a worldwide free publicity. The writers in wikipedia-like sites will start writing even for devtome. In one year you can really have devcoin stable to 1 usd. If you think: what is the meaning to have millions of almost worthless coin? I would prefer to have thousands of high valued coins, instead.
On the contrary, if unthinkingbit wants to transform this coin in a haven for sex and gambling, the road is the one you are talking about.
But please, do not talk of ethically oriented coin, if your idea is sex, gambling, etc...

[ashleysly]

To start to fuel the DVC economy, I have the ability to sell xBox live points and membership for DevCoins.

I can even sell many things. Give me a list and then I can see from my wholesellers.

P.S. there is a forum at www.devcointalk.org where all this can be talked at...

[Vlad2Vlad]

DVC prices has been slumping over the past few days...makes me a sad barnacle

On vircurex, the volume for the BTC/DVC trade is a colossal 15,694,970.8426  So I'd say someone sold almost their entire holding!

Actually, that's fairly normal (and I've been watching and buying DVC for roughly 1 month).  USD volume is usually maybe 1/15th that, on a good day, but for BTC/DVC its pretty normal.

Think about it like this, just 1 bitcoin is nearly 1 million devcoins (currently dropped and bidding at around 850,000 DVC - BTW it was 600,000 DVC per BTC just 10 days ago or so the last time I Bought DVC) so if you think about it like that we're talking about roughly 15 - 20 bitcoins.

Lots of people have 20 bitcoins to blow.  And money-wise that's only about $2,500 - once again very small market.

When we start seeing 5 to 10 times the normal volume that's when you know something is up.  

I might add that the biggest reason DVC price has been dropping in USD (and BTC) is because BTC value has gone up from $118 to roughly $130.  That's quite a big jump in under 1 week and the other coins haven't kept up so they're now selling for less since as people demand more for their BTC's then the USD value goes down as well.

This creates a great opportunity to buy for a ridiculous price.  I paid $.00041 just 30 days ago and now its half that.  It's a steal if you have money to speculate as this one sided Bitcoin only mania has got to swing in this direction soon. People have got to see the value in these other coins if they think bitcoin is a good deal at $130.  

I think its only a matter of time, maybe 3 months or so.

Unfortunately, meanwhile, earnings per share looks like is going to hit the all-time low of $50 from about $79 just a week or two ago.  This doesn't matter much if you believe in the future of devcoins but if you're a developer counting on the money then I'm sure it hurts.

Accumulate while it's low, I say.

Good luck!

Vlad

[weisoq]

We could give a part of the monthly share to open source platforms, starting with wikipedia. They will give to writers and programmers a small reward, giving back to devcoin a worldwide free publicity. The writers in wikipedia-like sites will start writing even for devtome. In one year you can really have devcoin stable to 1 usd. If you think: what is the meaning to have millions of almost worthless coin? I would prefer to have thousands of high valued coins, instead.
On the contrary, if unthinkingbit wants to transform this coin in a haven for sex and gambling, the road is the one you are talking about.
But please, do not talk of ethically oriented coin, if your idea is sex, gambling, etc...

Interesting idea, although I'm not sure how you'd tie-in distribution to wikipedia-like sites and devcoin promotion with devtome existing as competing and paid wikipedia-like site.
I think the 'ethical' element refers primarily to distribution, rather than how or if anyone can (or should) control how they're spent.

[Dexter44]

Today I have received 1000 XRP.
It means I need a ripple wallet.
People should feel the need to have a Devcoin wallet, even if for a small amount.
I believe a controlled giveaway of DVC should be done, in one way or another, with the intent to capture the attention of the public.