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

This article is listed as collated and put together to help Hypersire get info together for the new devcoin.org site.

An Introduction to Devcoin

From the many, one.
From one, the source.

What is Devcoin?

Devcoin is an ethically inspired project and digital currency created in 2011. It offers the same global person-to-person, minimal fee and secure network advantages offered by Bitcoin, but with some beneficial and complimentary differences.

Devcoin was created to help fund open source work and projects created by programmers, software developers and writers.

Participants in the Devcoin economy earn Devcoins in proportion to their project development. Writers earn devcoins by writing, Developers earn devcoins by developing, Marketers earn devcoins by marketing, and Administrators earn devcoins by applying their time and effort to help organize the Devcoin project.

Hopefully Devcoin will eventually fund all types of development including hardware developers, graphic artists, musicians, and filmmakers.

Why Devcoins?

Devcoin aims to help fund open source projects and reward open source work. Devcoin currently continues to support Bitcoin-Qt, Open Transactions, Dot-BIT, P2Pool and Pcmanx-gtk2 among others through regular payments to active developers.

Devcoin is worth your interest and effort because it pays to be involved. Direct payment for your development work or indirect payment as development is undertaken in the areas that matter most to you. By incentivising and rewarding time and effort spent working Devcoin supports real development and action today, not just hoping for change tomorrow, ensuring sustainability in the long-term.

Open source is about more than just software. It's a model of open access and redistribution of time, work and information through collaboration. Software code is obvious source information, but a design or source material is also at the core of hardware, writing, music, graphic art and film creation. Devcoin helps to enable universal open source funding and grow the potential for interaction, production and progress.

There’s a growing community of people already contributing to devcoin’s growth and economy, people using devcoins for purchase and receipt, and projects backed by existing infrastructure across the development and gaming community. Devcoin is here to stay; building a social, beneficial and transactional future.

How does Devcoin work?

Devcoins are generated in the same way as Bitcoin. Merge-mining Devcoin alongside Bitcoin offers a means to optimise mining resources for maximum return at no extra cost to the miner, while also contributing to building the same open source development community that brought us Bitcoin. Buying Devcoins offers a means to support and help build a network of development, open source efforts and creativity that may otherwise never happen.

The purpose of Devcoin is to distribute income to open source developers for their work in as fair a manner as possible. Many open source developers do not receive any significant return. Advertising, charity and consulting may provide income but many developers, and even those with projects utilised by thousands of clients, might only receive a few dollars a month. In a typical modern economy approximately one percent goes to charity. That is not enough to support such efforts, people and projects.

As developers receive so little, they can only develop their projects in their spare time which slows developments significantly. Feature requests and critiques do not accelerate development, but payment does. To achieve this 90% of Devcoin generation goes to developers and projects with 10% going to miners through no-cost and so profit boosting merge-mining with Bitcoin. A win-win for all parties.

Devcoins provide an income for everyone who wants to work. With Devcoin no one who wants to work need be completely out of income, as anyone who produces good open source work may earn Devcoins. There is no guarantee this will be a high income, but something is far better than nothing.

By buying Devcoins you help developers and give the world more open source software, writing, books and creativity. As the market-capitalisation and resources supporting Devcoins grows, the scope for help to fund projects will expand to all types of development.

Evolution of Devcoin

Devcoin started in 2011 and is created and controlled by advanced mathematics and cryptography. Devcoins as a currency unit are created over time at a diminishing rate of growth, but remain highly divisible. More technical and historical information can be found on the pages of Devcoin’s first and growing open source revenue project Devtome.com.

Unlike common payment systems:

  • Devcoin is not tied to the US dollar or other national government currencies
  • It’s impossible to suffer charge-backs or frozen accounts
  • Devcoin, like Bitcoin, is relatively anonymous
  • Transaction fees are minimal and exist only to keep the network flowing efficiently

Devcoin gives people and communities a way to invest their money in and with open source developers and creative projects, with the option of withdrawing the money if needed. Learn more about the philosophy on the wiki.

Getting started with Devcoin

Anyone in the world, of any age, in any country and for any purpose may start accepting and spending Devcoins immediately. It's an entirely free-market currency that every human on the planet may use. It returns the power of money, work and compensation to the people and away from banks and governments. There is no sign-up or approval process. You can have a free, open source Devcoin wallet in minutes.

The supply of Devcoins is mathematically controlled at a pre-determined rate, and cannot be inflated beyond this. The Devcoin money supply is constant, but this rate of growth is at a diminishing rate tending towards equilibrium.

This was purposefully designed to ensure that:

  • Developers and developments today and tomorrow are rewarded more equally.
  • Longer-term projects and investment can be funded with a smaller risk to sustained compensation or volatility jeopardising getting work done.
  • The Devcoin currency base evolves with the take up of ideas, buyers, investors, developers, employers and the real economy, so everybody gains.
  • The generation pays for ongoing development, which increases revenue. So the revenue per Devcoin can keep increasing, even though the number of Devcoins increases.
  • Devcoin working together with Bitcoin can offer an alternative to government currencies at every point in a transaction chain and smoothly cater for micro-payments and both sides of balance sheet entries over time.

Step 1: You need a Devcoin wallet to store your Devcoins

The original Devcoin Client Wallet is free, open source software. Downloads are available for Windows, Apple, Linux and FreeBSB or get the source code from Devcoin.org

Step 2: Getting Devcoins

1. Merge mining Devcoins with Bitcoins. If you are mining Devcoins as a secondary chain, you will receive Devcoin blocks far more often than Bitcoin blocks, because the Devcoin hash rate is lower than the Bitcoin hash rate. The mining portion of the Devcoin block is 5,000 Devcoins:

2. Participation in the Devcoin open source community:

3. There’s a Devcoin ‘faucet’ where you can obtain some free Devcoins for your new wallet and join the economy.

4. If you prefer to simply buy Devcoins from others, several exchange platforms offers this facility. They incorporate a simple account to exchange and send Devcoins (DVC# to and from your private wallet, supporting either Bitcoin or Litecoin pairs with Devcoin:

Step 3: Investing and Spending Devcoins

The primary use of Devcoins is in project funding and as investment in yourself and a growing community where value is projected to grow longer-term as take up increases. But that’s no limit to opportunity. The more that Devcoin is used in place of alternatives the greater the potential for mass mutual benefits and an environment where we all get to better determine choices and progress.

There are an increasing number of companies selling goods and services for your newly acquired Devcoins, including the exchanges where you can convert your Devcoins to other currencies:

Useful Tools

Find out More

For more information on Devcoin and a better way to transact and participate, to work and earn visit http://devcoin.org/, browse the pages here at http://Devtome.com and join the discussion. Help to grow the project by hiring and trading in devcoins and spreading the concept.

Devcoin is more than just a currency; it's the next step in open source funding, electronic money and payments.
Ideas are the currency of tomorrow. Welcome to the future. Welcome to Devcoin


E-Currency


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