Devcoin Fund Why

This article links to Devcoin_Fund

Why a Fund?

Crypto Currencies are complex when compared to FIAT and for many users coming into Crypto Currencies the process begins with a wallet and the purchase of their first coins. Purchasing their first coins is complex in itself, but by the end of the process the user has a rudimentary understanding of how to send and ask for crytpo currency.

Devcoin users are different in that they fall into two categories:

  • The Public
  • Devcoin Contributors

The public will come to Devcoin through purchase or exchange and the provision of a wallet. A simple USD to DVC purchase can meet this need while adding USD to the Members Pool.

Devcoin Contributors come from within the Devcoin community and include developers, writers, artists and musicians. Many of these contributors to the community will have no previous experience with crypto-currencies and no real interest in learning to trade on the open market in order to receive their payout shares each round.

The result is a glut of DVC each round that can potentially wipe out current purchase orders on the exchange, with contributors eager to find the simplest, first opportunity they come across to turn their hard earned reward into a tangible currency for use in their daily lives.

This has two effects:

  • Contributors accept less than their work is worth
  • Speculators and Investors DVC stock loses value

The rollover effect to the entire Devcoin Community is a slower Devcoin economy.

A Devcoin Community Fund could address these effects by purchasing the coins from Members who do not wish to trade on the open market and by trading on behalf on the Fund Membership.

Why would the Public use the Fund?

  • As a community driven endeavour the Fund offers some credibility for purchasers
  • No obligation to join the Website or Fund
  • Simple USD/DVC transactions

Why would Members use the Fund?

  • Simple DVC/USD transactions
  • To support the Devcoin Community
  • To support the Devcoin Fund

Why would Investors Support the Fund?

  • As the fund purposes include the return to members of all profits, the Fund offers a unique opportunity to invest in a community based Fund that is based on ethical values an transparent principles.
  • Philanthropic gifts are gifts of pure support to the Fund. We do not ask why.

Why limit membership to Contributors?

  • The Fund is not a bank and does not provide public banking services
  • The Fund is intended at it's core to support the ongoing development, growth and success of Devcoin as an ethical currency.
  • Anyone wanting to access the services of the fund is actively helping the community in some way. This may encourage people to consider Contributing to the Devcoin Community

Why include a Community Bounty system?

The Community bounty system will:

  • Allow the Fund to utilise the membership base to support the ongoing development and growth of the Devcoin Community, new projects, bounties and developments through regular Devcoin news and announcements. 1)
  • Allow the Fund to provide additional services to Members
  • Provide a mechanism to ensure bounty values are fair and equitable for Devcoin related projects through a Members voting and Comment system.
  • Provide a mechanism for posting private bounties for Devcoin related private Open Source projects
  • Allow new developments/bounties to gain exposure to the Fund members and the wider community

Why is there no forum included?

The Fund is for members and must remain transparent and open to public comment at all times to ensure the core values of the Fund and the Devcoin community are upheld.

The Fund is a community endeavour and as part of the Devcoin community it is important to support and build on excellent work already done by contributors. In keeping with this, the Fund will use the forum at The :Official Devcoin Site

Why are you doing this?

I like to keep things simple but I often find myself in complex environments and have some past experience in research, economics, marketing and Open Source technologies. As a writer for Devtome I am dreading the moment I have to join an exchange and list my DVC or find a buyer. I love writing, and am loving the exposure to new concepts and perspectives that being part of the Devcoin Community gives me but this one part of being a member of the community (ie:trading) places a layer of complexity over the whole experience.

I have read and responded to a lot of comments about people selling their DVC low and I honestly believe many people will come to Devtome and the Devcoin community because it offers an income. To criticise or in any way penalise people for using DVC the way it was intended goes against the core principles underlying the Development of the Devcoin Fork. The Fund offers a mechanism that might keep all member's of the Community happy.

Business | Investing | Devcoin

The idea of a Developer Exchange was first conceived by Weisoq. Devtome Article:development_exchange

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