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My Journey With Devcoin: Times are Changing

This is my third entry in a log of my journey with Devcoin. You can find it here:

My Journey with Devcoin

Playing Catch-up

So at the 112,000th block of devcoin, the payouts started. I had been waiting for the day, and it finally happened. After writing 11,000 words or so, I calculated my pay against the number of receiver lines, and I knew that I should be expecting around 100 shares, which is around 4.5 million devcoins. That was 1.2 bitcoins at the trading price at the time of the round starting, but then a few problems ensued that halted my earnings.

The Devcoin Price

Well, contrary to what was said in the past, Devcoin has still not been removed from mcxNOW and I still use mcx as my trading platform of choice. When the payout round started, I took my mind off of Devcoin for a bit in order to focus on school and work, and stopped writing articles on devtome assuming that I would pick it up later, which happens to be now. When the payout round started, the price of each devcoin was around 30 satoshis per coin, which meant I would earn a little over 0.01BTC per day if my calculations were correct. I saw my shares being generated into my wallet and would send them off to my mcxNOW account for trading every 3 days, and saw a constant flow of btc rising in my account. However, the price of the coin slowly began to drop. After the week of the 90 satoshis pump, the price plummeted down to 25 satoshis after a few days and currently sits anywhere from 14 satoshis to 22 satoshis on a good day. Most altcoins are sitting at pretty low prices because of the value rise of the bitcoin, but that’s something I’ll address further in the next section of this log. Hopefully the devcoin price will rebound back to a solid 25 satoshis or higher so I can get around 1 BTC out of my earnings from last round.

The Bitcoin Price

A few years ago, the price of bitcoin was around $0.01. A few months ago, the price of bitcoin was around $100. A few months further, the price of bitcoin was around $200. As of this morning, the Mt. Gox trading price of bitcoin is $740 and rising steadily. I don’t know whether the price is being propelled by the efforts of merchants in order to accept bitcoin and make it more publicly accepted (shoutouts to Subway, Gyft, and many more!) or whether it was the court hearing about bitcoin’s potential (which brought the price up to just a hair over $900 the morning of) that keeps raising the price, but I don’t see the price crashing any time soon. With time comes stabilization, and hopefully the price of bitcoin will find a nice, high value to sit at and stay at in the future. I currently own around half of a bitcoin, and I’m earning more every day from my last DevToMe round. I love checking my Coinbase wallet funds every morning to see how much I’ve earned just by sitting on my wallet!

My Plan for the Future

The reason I am back writing on DevToMe is because I realized recently that the price of bitcoin or altcoin isn’t going down anytime soon. Even if the price of devcoin hits 10 satoshis and stays there, the pay will still be pretty attractive because of the recent rising of the bitcoin to USD price. My plan is to constantly be writing things for DevToMe and therefore maintain a constant flow of devcoins to my wallet, and then send those coins off to mcxNOW at the end of every week to be traded at the trading price (no waiting = happy me) for bitcoin and then promptly deposited into my Coinbase wallet for monitoring and saving. However, in order to maintain a constant yet valuable stream of devcoins, I’ll need to write a lot more. Currently I get around 1.5 shares per day (the decimal is because it was averaged), which is 67500 devcoins or 0.0108BTC at the current average trading price. Although this is a nice amount for just writing down my thoughts, if I could write a few thousand words every weekend for a few months, I’d have a constant payout of 4x that or so. I also recently downloaded some dictation software (which I’m having trouble installing on my new operating system and haven’t had much time to mess with) which will hopefully make writing a lot easier, since I’ll literally be able to just talk my thoughts out and be able to send out. Writing this log entry (oh noez, breaking the fourth wall!) took around 30 minutes for around 1000 words, but would probably only take 10 minutes to talk through. Therefore, it’s estimated that I’ll make 3x more by talking instead of writing, which would be a nice bump to my flow of cryptocoins.

Conclusion

With the rising price of bitcoin, I think that devtome could be an extremely nice income source for my coins. My plan is to earn 1BTC every year before the next school year starts, and at the beginning of each school year I’ll put 1 BTC into a CD at coinlenders or some other “bitcoin bank” where I can earn a bit of interest. Assuming that the price of bitcoin will be constantly rising (and I’ll be earning interest), I’ll be making a nice amount of money just by sitting on some coins. I’ve earned around 0.5BTC since the start of this school year, so hopefully next year I’ll be able to start my schedule of saving and be making money in no time. My only fear is a site like coinlenders shutting down and there being no worthwhile alternative, or my coins being stolen from a coinlenders wallet like what happened with Inputs.io or countless other sites. Also, I hope that devtome doesn’t completely base the shares awarded based on views, for I’m still trying to find a way to bring exposure to my posts, and if the payout method changes based on views, the profitability for me will highly decrease.

Devtome Writers


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