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!

Investment Plan: A Development Exchange

An exchange venture established as a site that effectively creates a market in privately pooled and funded Devcoin bounties, and later for work paid in devcoins. The plan is therefore for a portal to enable a continuation of decent investment plans and other good ideas by creating a marketplace where they may be funded and implemented.

Opportunity

The Problem:

The underlying ethos of Devcoin is to pay for people and projects that create. That requires putting know-how, visibility and incentive in one place. Bounties are doing this but the bounty system isn’t yet aligned to finding equilibrium between supply and demand, funding and cost, private and consensual ideas.

The Solution:

A separate development market would allow formal Devcoin bounties to remain focused on building a foundation of definitive tools and applications, while opening a greater range of opportunities to simple demand and supply. This would better underscore what Devcoin is all about - working - while maintaining people’s attention, paying it forward and keeping the chain of transactions and development moving with a shared interest in growing Devcoin value.

The site could start with bounty propositions by investors, rather than by developers, to build a base of interest and funding. If and when that was established a free exchange of development could begin. The reason for this suggestion is that a market of workers with no paid work to offer them is probably worse than no market at all.

Competition and Target Market

There’s a lot of talk on the forum about ideas, but nowhere straightforward to bring together the interests of doers and funders. There are also similar sites out there, serving related purposes. Some for example focus on a particular crypto, others only on the direct p2p pay-for-work model.

These angles are good but not necessarily yet working towards enabling Devcoin transactions and enterprise in a broad way that devcoiners want. Devcoins can be a win-win for everybody as projects and bounties to date are about open-source. But Devcoin isn’t limited as a payment mechanism. Rolling out the site would tie together Devcoin.org, Devtome and Bounties with a free market in project funding via devcoins.

Marketing

The site would itself serve to better market Devcoin and its aims. Social-media and links to other Devcoin portals would also add mutual visibility of everything Devcoin represents, but it would be a ‘non-official’ standalone entity with no connection to receiver files.

Forecasts

Developments recently have included a great new portal at Devcoin.org and Devtome moving forward with ratings, revenue and more writers. It’s time to open the remit of Devcoin to any and everybody’s ideas. That doesn’t mean there would necessarily be interest in and money behind those ideas, but instead of just talking everybody will have the opportunity to back their suggestions and test for real interest.

This would:

  • Spread the Devcoin proposition for future growth;
  • Offer developers and ideas people a chance to put their time and money where their mouth is, in a scaleable way;
  • Work towards finding a more efficient equilibrium to perhaps apply more broadly to Devcoin efforts.

Investability and Purpose

The exchange could be listed on Cryptostocks but that would require a model that includes fees such as commissions to pay dividends or coupons, and would probably require share or bond holders relinquishing voting control to enable ongoing smooth workings. Another possibility would be incorporating advertising for potential revenue.

At this stage there seems to be more value in spreading the concept and getting the goods and services we want in Devcoins, than in trying to directly monetising the exchange to make a net % return on an investment in a volatile currency that lends itself to transient speculation. Because of this, establishing the exchange as a Devcoin value proposition through the potential visibility, user growth and project developments rather than as a directly investable fund is easier. This way the value is reflected in the price of Devcoins.

If others disagree or have better ideas, they should implement those instead.

Funding & Implementation

The exchange would be funded initially by a portion of any shares stemming from this proposal to get the ball rolling (the amount will depend on any future proposal as, for example, a reddit page would not appeal to a significant sector of the potential target market so while it's not a bad idea that's not what I'm proposing or need to help fund). There would be no further interference from me beyond this grant as it should be a focused effort by somebody with the technical skills and interest to maintain it. Anybody particularly keen on getting such a venue going is welcome to offer their own additional incentive.

Ongoing costs could be paid for by one of several methods:

  • The employment of somebody(s) to host, maintain and administer the site in the initial setup funds;
  • Such admin persons being hired by the Exchange as a value proposition to do the work on an ongoing funded basis.
  • Another method to the preference of the exchange operator.

Project funding would be done on an investor basis, in that if investors are willing to pay in instalments or on completion that’s up to them and to be clearly stated in the terms of that exchange, subject to negotiation.

Resources

As an estimate the fund or exchange would require an attractive hosted and maintained site and at least one person to administer its contents. The administration of interest from prospective developers and marketers and investors may take more than that in time.

Exchange examples

Initially:

x DVC offered to develop and run a GBP DVC giftcard site. Payment is 75% on completion and 25% after a period of 3 months has elapsed on a full working model.

Later:

x DVC offered to write marketing copy. Pay is per article.

x DVC offered to provide user admin support on ABC exchange. Sum is weekly for a minimum of 10 hours work per week.

Addressing potential Risks & Shortcomings

Undermining official Devcoin Bounties?

This is about more than bounties, and any perceived overlap should be mitigated by concentrating the exchange’s activities on private and pooled developments only. By initiating and offering this means of funding, all and any ideas can be considered without any controversy of Devcoin consensus intentions. There’s a possibility the site could later be integrated with standard bounties if it became more efficient to do so, but because this would add work and time to those involved with receiver files and usual Devcoin admin this should be a decision for them to make and not the intention of the exchange.

No Interest?

The site may fail due to lack of interest by either funders or developers, or both. This is why is should be standalone. Whether it’s too early for such an idea or whether it succeeds or fails, working towards it would help clarify Devcoin’s potential. There is no reason why efforts and work have to be in Bitcoins or Litecoins and not Devcoins. If we can generate a simple means to open up the notion of pay in Devcoins, this could propagate more Devcoin interest and transactions at a market rate. Perhaps if we build it, they will come.

Other core Devcoin aspects need to be in place first?

This is why the plan is still just a plan. Devcoin.org is in place. Updated code and a new client are close to roll-out. Devtome is established with growing vetting. An exchange won’t be here tomorrow, so when the above is all in place, tried and tested there can be a renewed focus on the development side of Devcoin.

An exchange increases the risk of getting ripped-off?

Yes it does. That is the risk of business and markets. Any funders will have to appreciate there is no back-stop on losses and scams. Rather than being a problem, this could catalyse more methods of appraising skills and results. Those with particular expertise could work with generalists to better vet developments, for example.

Incentive misalignment?

Such an exchange may create an incentive problem. Only those willing to fund developments will be directly paying, yet where projects are successful benefit may be accrued to all devcoiners. While perhaps unfortunate in the case of developments that genuinely prove to build the concept and value for everybody (i.e. those that relate to broad open-source individuals and efforts) other exchanges will be those suiting particular wants or needs. Nevertheless it's likely that success will lead to greater interest by all, but it's fair to at least acknowledge the issue.

Information asymmetry?

Those funding and developing via the exchange may become party to information on projects that could influence Devcoin’s price that others' aren’t. Therefore the exchange should be transparent, although information advantage is just how the world works and generally why things get done.

Open Source?

This is the core of Devcoin, but it is not a limit to its spending power. Amazon gift cards are not open source but they still offer something in demand and useful. The Exchange would not involve generation devcoins so payment would not have to be for open-source work only. However a basic framework of not-permitted developments, for example those incorporating coercion and violence, would be necessary to maintain devcoin's principles.


Business | Investing | Devcoin


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