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!

Devcoin Fund

Context

The primary context for this discussion is to explore the viability of a Devcoin Fund. This is not business plan, or an investment plan. It is a concept that is open for discussion, to borrow from or to add to. The concept was originally in response to concerns raised in the bitcointalk forums regarding the “dumping” of Devcoins immediately after rounds payout, causing the value of DVC to drop.

  • To address the need for simpler methods of transaction for anyone to exchange USD for DVC
  • To address the need for simpler methods of transaction for individuals and businesses to exchange DVC for cash, and thereby encourage them to accept DVC in payment for goods and services.
  • To establish a self supporting fund model based on the value of DVC to support artists/writers and developers who may not otherwise fit the Devcoin Developer model. (i.e.: not developing anything for the DVC community or the ongoing functions of mining DVC)

This discussion will be written in multiple articles to allow for indexing later.

Resources and references will be noted on individual articles until completion when an index of resources and references will be compiled from the results.

Introduction

What does a Devcoin Fund do?

  • Provides an Exchange for members to exchange DVC from the current payout round to USD.
  • Supports Open Source Projects through:
    • Community bounties
    • Devcoin bounties
    • Private bounties for Open Source projects
  • Provides a platform for networking between Devcoin Investors and Open Source Creators
  • Ensures bounty projects currently being worked on are promoted to the wider Devcoin community
  • Provides Developers and Bounty providers with an escrow and exchange service

Through regular blog/news articles and website notifications, the Fund also provides a public platform for the dissemination of new projects, websites and project developments. All news, blog and bounty articles on the Fund website include voting and comment systems to allow for community feedback, consultation and input.

Through the inclusion of a members voting and comment system, bounties posted are open to public feedback and consultation. This could also provide an opportunity for potential bounty projects to gauge community support/need.

Financial Model

The financial model for the Devcoin Fund Exchange needs to fit within the Devcoin community intentions:

  • Open Source contribution to the Devcoin Community should be recognised and rewarded in a fair and equitable way
  • Members of the Devcoin community fund have access to services provided by the fund
  • Investors to the fund are rewarded for their support
  • The Fund is not intended to be an investment itself
  • The financial model must include absolute transparency to members including current balances of all Pools and accounts held by the fund

Concept

To create an investment fund that offers the following services:

  • Exchange of DVC for FIAT (US$)
  • Exchange of FIAT (US$) for DVC
  • Funding Pool for open source projects that fall outside the scope of Devtome and Devcoin bounties.

Elements

The Fund buys DVC from members for USD at a price set at the beginning of the payout round The Fund sells DVC to the public at a price set by the median market price through a simple purchase interface

The Fund trades DVC on the open market on behalf of investors

The Fund does not take transaction fees, all fees charged by third parties are paid by the member exchanging DVC for USD

The Fund pool is for the running of the exchange and Bounty funding

The Fund runs a number of revenue streams to support operations, reward investors and support Open Source Development within the Devcoin community.

Requirements

  • 1. Staged Development
  • 4. Transparent banking system (for USD)
  • 5. Transparent transaction system (for DVC)
  • 6. Escrow service
  • 7. Initial USD balance to match the current Devtome shares round (USD value)

Expert Knowledge

This document is intended to be a catalyst to discussion. I do not have the expert knowledge to develop all of the financial/trading aspects of the Fund, this part of the discussion requires expert input. ANY contribution is welcome.


Business | Investing | Devcoin


QR Code
QR Code devcoin_fund (generated for current page)
 

Advertise with Anonymous Ads