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Devcoin is an ethical, beneficial currency where 90% of the generation goes to open source developers and part of that will go to bounties.
The bounties will be primarily for development of software, hardware and documentaries. There will also be bounties for the first people to help with new projects. There is a partial list of currently available bounties, all the bounties are mentioned somewhere on the devcoin thread.
Books, articles, and documentation get earnings from devtome, instead of bounties.
Devcoin gives most of the generation money to open source revenue projects, like devtome, leaving only about 10% for bounties. Of the money going to bounties, only about 10% of that will go to any one project. So the largest bounty that can be funded is about 1% of the market capitalization of devcoin. Put another way, the devcoin market capitalization has to be at least a hundred times greater than the bounty required.
At the time of this writing, April 6, 2012, the devcoin market capitalization is about 0.000003 BTC/DVC * 50,000 devcoins/block * 83,200 blocks * 141 USD/bitcoin ~= 1,800,000 USD. The higher the market capitalization of devcoin, the bigger the projects that can be funded. The types of projects that can be funded at a given market capitalization are listed below.
On June 12, 2014, the DVC market cap is about $500k.
Capitalization 100,000 USD
- Simple Extension
- Medicine, Extra Mineral Water
Capitalization 1,000,000 USD
- Modify Big Application
- Small Application
- Aircraft, 3 m Diameter Solar Balloon
- Board Game
- Medicine, Fortified Food
- Toy, Simple
Capitalization 10,000,000 USD
- Big Application
- Rented Hacker House
Capitalization 100,000,000 USD
- Modify Computer Language
- Modify Operating System
- Unix Distribution
- Rent to Own Farm
Capitalization 1,000,000,000 USD
- Computer Language
- Operating System
- Aircraft, Ten Seat
- Boat, Fifty People
- Building, Fifty People
- Extraction, Metal Recycling
- Fabrication, Partly Automated Factory
- Ground Transport, Ten Seat Minibus
- Medicine, Mitochondrial Protofection
- Solar Power, Aerostat
- Space, Reusable Microsatellite Launcher
- Village, One Hundred People
Capitalization 10,000,000,000 USD
- Village, One Thousand People
Bounties are primarily for those essential developments which many other developments depend on.
For example, the most essential program in the software world is the compiler. Without the compiler we wouldn't have bitcoin, or any other software. The compiler is not the biggest software project, but it is vital and if there were bounties at the dawn of computing, a big part should of gone to developing the compiler.
Today, the most essential software in early development is bitcoin. With bitcoin people can pay each other across the world and accomplish projects which no one could of developed alone. For example, without being able to pay bitcoin bounties, devcoin and the associated charity mining pools could not of been created because no one person had the skills or the time to develop the entire project.
The most essential hardware tool is that which can build other tools. There are open source tools like the Arduino, Contraptor, CNC Laser, Multimachine, Powder Printer, and Reprap that can build parts or control machine tools. However those projects are progressing slowly because they get only a tiny amount of money for development. Also, there is no open source tool that can print metal parts, or microfabricate.
The hardware bounties are for the missing open source tools, a metal printer, a microfabricator, a large fabricator, a powder bed printer, and a cement fabricator. There will be a twenty generation share bounty for the first open source printer that can print zinc or zinc alloy parts. For printers that can print parts out of metals with higher melting points, they will get an additional bounty of one fifth of a share for each ten degrees Celcius of the melting point of the metal above four hundred Celcius (roughly the melting point of zinc).
The microfabricator bounty will be ten shares for an open source 3D printer that can print with a feature size of eighty microns. There will be an additional bounty of ten shares devcoins for each halving of that feature size. So a printer which can print at forty microns would get twenty shares, at twenty microns thirty shares, etc.. If the printer can achieve an intermediate feature size, then the bounty would be the logarithmic interpolation. If the printer prints at a different feature size in one dimension than another, then the effective feature size will be the cube of an equal volume.
The large fabricator bounty will be ten shares for an open source 3D printer whose print area has a diagonal length of two meters. There will be an additional bounty of ten shares devcoins for each doubling of that diagonal length. So a printer whose area has a diagonal length of four meters would get twenty shares, eight meters thirty shares, etc.. If the printer can achieve an intermediate length, then the bounty would be the logarithmic interpolation.
The powder bed fabricator bounty is ten shares for an open source 3D powder bed printer. The cement fabricator bounty is ten shares for an open source 3D printer that can print cement.
Software upgrades to the mainline client to make it more difficult to double spend. Software changes to the mainline client to make it easier to make alternative clients. A forum site which requires bitcoins / devcoins to join and post, the money would support the site, any remaining income would be distributed according to the wishes of the posters. A web email which requires coins to join and post, the money would support the site, any remaining income would be distributed to charity.
Finally, the more money your computer makes the better. Bitcoin gives miners money for their GPU, but the GPU money will decrease as the bitcoin block subsidy is halved. To that end there will be bounties for development of open source projects which could lead to people getting paid for their computing cycles, like the Big Ugly Rendering Farm (BURP).
There will be a bounty for a 0 to 99 range voting site, and/or for incorporating range voting into existing forum software.
In the long term, bounties for improvements of open source software in general. Bounties for open source machinery, circuits, vehicles, housing, games and medicine. Bounties for open source villages and other types of communities. Bounties for open source transportation, energy and resource extraction systems. The ultimate purpose of the bounties is to fund all kinds of open source development, so that people could choose to live in an open source community where everything therein could be developed or built by anyone.
Small informative posts on the devcoin thread will get 1/5 of a share. Informative posts larger than a hundred words, or a series of small informative posts, will get 2/5 of a share.
These post bounties are at my absolute discretion, and they will not go to people who have already received a large bounty.
In the development of devcoin and the related charity pool, five people accomplished more than mechanical tasks and qualified for creative work bounties, for which there can be no absolutely objective criteria. Three accepted the offered bounties, gracefully with no complaints or requests for more. Two developers withheld their work while asking for a greater share.
Since some developers will withhold their work while asking for more, all public offers of a bounty release must be public, the offer can only be for work which has been released, and the almoner must ask for acceptance of the bounty amount if the bounty is partial. The bounty must not be released in whole or in part to anyone who withholds their work or does not agree with the amount offered, because any additional bounty to those who withhold would come from the share of the honest and generous developers.
A almoner's decision for a bounty can not be overriden. If someone thinks an almoner is corrupt; for example there is evidence of a kickback, they can advance 50 $ to have three other administrators vote on whether there really is corruption. If the defendant gets 50% or more, the defendant stays; any new accusations within a month require a cumulative doubling of the last advance. If the advance reaches 200 $, a five member jury is chosen, at 800 $ a seven member jury is chosen, and so on for each quadrupling. If the defendant gets 40% to 50%, they can not administer another bounty for three months and can apply for a new vote afterwards. If the defendant gets less than 40%, they can not adminster another bounty for a year and can apply for a new vote afterwards. If the vote is below 50%, the money is returned to the accuser, if the vote is 50% or over, the administrators vote on whether the money should be returned to the accuser or distributed among the active developers. So an accuser can try to stop a almoner from making another bad or corrupt decision, but an accuser can not change the disbursement of the current bounty. This is to reduce the incentive for a developer who wants more money to repeatedly appeal hoping to eventually get a jury to rule in their favor.