DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

Adding Value to Devcoins

One of the big things about Devcoins is that they are infinite in number. Every forty days or so, another 180 million are created, with no cap. This doesn't mean that we can figure out how many are accessible (being that some people lose their wallets, password them and lose the password, etc.) but we can see that, on average, that number will increase from one day to the next. This makes it all the more important to get some value added to the coins, because unlike deflationary ones (where the value of the coins relative to fiat will increase just by the sheer nature of how they work), they are inflationary. Taking steps to add value, and then increase their value is important, as without this, they will not be worth anything.

There have been a few different ideas discussed with regards to how to give the Devcoins some more value. For example:

  • Bringing in more writers - the theory is that with each additional person that joins the writing team, that adds more spread to where the coins are going. Because of this, each person just by the nature of holding coins will look towards giving them value, because it increases their own holding's worth as well
  • Coming up with new resources in which to spend them - as it is right now, Devcoins have no true value. The only things they can be used for right now are to hold, invest in to companies, or trade for Bitcoins which can then be traded in to fiat or be used to purchase other things. Because of this, new ways in which to directly utilize Devcoins need to be created
  • Spreading awareness of what Devcoins are for - this should theoretically increase their value by being a sort of investment vehicle for people that want to further the open source community as a whole. Rather than throwing cash in to donations, purchasing Devcoins has a similar effect, but it also rewards the donators by giving them coins

By boosting up the effectiveness of all three of these things, the value of Devcoins could skyrocket. The problem with this is that it needs the work of many more people than we currently have. As Bitcoins are gaining awareness, that is the time to help increase the awareness (and get more people involved with) of Devcoins. Luckily, this has been moving forward, albeit somewhat slowly, as people are working towards adding to the Devtome and are opening up more methods for sending them payments for things they are selling. In my case, for example, I've already opened the door to Devcoins as a method of advertising payment for my crypto related sites, allowing people to purchase their advertising without needing to add in any cash or Bitcoins. While this is a small benefit, it still helps add some value by trading in services that otherwise would not be available. My plans are also to start opening up other services in return for Devcoins, such as writing, SEO and public relations (marketing included) work. Being that each of these is based on time and knowledge, rather than having to buy something, it allows for collecting the Devcoins without any need for converting them in to fiat or Bitcoins. The problem with selling things that require being purchased first is that at some point, those Devcoins have to be turned back in to fiat. Without this, there is no way to continue the business. This ends up leading to a situation that is the same as if someone were to just sell their Devcoins straight up, or just bypass them altogether.

Devcoin


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