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So in summary you're saying devcoin can't work because unlike most other cryptos currencies it's not a deflationary pyramid scheme, even though such schemes are necessarily flawed as currencies from the onset? And that although the required stability and sustainability for real world substitutability of state fiat, given economic and monetary trends (no I dont know at what price), could perhaps be achieved with a currency concept like Devcoin it is Devcoin that has the model wrong?
I think it will be fascinating to observe the progression of views and wake-up calls in this area over time as people begin to appreciate that wealth still does not grow on trees or with feigned blockchain scarcity. Actually its already fascinating, if a little tragic. 'Ethicoin' can't work with a limited blockchain in application of anything like the devcoin model because the weight placed on early payout > later. This problem won't be remedied by a rising price because there is no incentive for early adopters and miners to give away a free lunch and therefore every arguable downside but none of the upside of devcoin. But I'm sure the developers understand this, as do you. But good luck with it.
If it isn't working now, why should I believe it can work 5 years from now when there will be better alternatives for sure? This is the Devcoin moment where it either finds a way to get everyone working for it, or next year the infrastructure to work for Bitcoin will be set up and no one will care about Devcoin.
Ethicoin has a chance to fill the void and possibly fill the niche so I'm waiting to see what they do and Litecoin isn't exactly Bitcoin so they have a couple years and then they too will be in the same position of Devcoin. Bitcoin is about to go mainstream in 2014 and if Devcoin isn't being used by all of us by that time then I would say it may be too late.
And when I say used by all of us, I mean anyone who wants a job on this forum should be able to find a job which pays in a significant amount of Devcoin if they are willing to do the job. I know people will say Devcoin was set up to pay developers, but most people on this forum are developers and how many of us are paid in Devcoin right now?
Bounties are not a very good way to do things. Subscription models like what Coinbase is offering could kill Devcoin once enough podcasters and bloggers switch over. Writers just starting out will use Devcoin but once they become successful they'll sell their works for Bitcoin. Journalists may have to go with a Bitcoin subscription model because Devcoin just wont pay them enough in $. I can't believe I'm the only one who can see this coming.
The deflationary model is right. You don't agree for philosophical reasons but to anyone who owns Bitcoins which are worth $100 each, and who owns ASICminer shares worth 2.5 BTC each, or who is mining with an ASIC right now, why would these people have a problem with the 21 million Bitcoin limit?