hello,
can someone who is very fimilar with devcoin give me some answers why devcoin is worth to support? (exept the gaining value)
I have some questions i never find a quick answer.
1. i read 90% of the mining goes to the developpers.
like i understood he has a registration site where open source developper can register and become devcoins for free.
is that correct?
2. Who / how many persons decide how much each open source project becomes?
3. Is there a kind of fee/tax/demurage involved to grap value from other persons exept the miners?
4. How much coins will be genereated, is the a cap or a soft cap? (xxx million + 1 million per year for example)
can someone who is very fimilar with devcoin give me some answers why devcoin is worth to support? (exept the gaining value)
I have some questions i never find a quick answer.
1. i read 90% of the mining goes to the developpers.
like i understood he has a registration site where open source developper can register and become devcoins for free.
is that correct?
2. Who / how many persons decide how much each open source project becomes?
3. Is there a kind of fee/tax/demurage involved to grap value from other persons exept the miners?
4. How much coins will be genereated, is the a cap or a soft cap? (xxx million + 1 million per year for example)
Hello let me try to "win" you over
90% of the mining goes to developers and admins for work. Developers signed up to devtome will only receive coin via writing or developing bounties.
As of now bounty sizes are assigned with consensus but I argue that allowing bounties to grow as more coins are mined gives chance for market forces to take over allowing a more efficient price discovery mechanism that will allow for greater work output.
Regarding coin generation there is no cap.. and this may seem counter intuitive to new comers in crypto since most coins have a cap ( mostly to make money as early adopters ) but the long term ramifications of having no inflationary force driving price may lead to less adoption of the masses when crypto coins blow up to the average joe level... What I mean is that when mining stops after cap is reached we do not know if transaction fees offer enough incentive to continue keeping the network secure enough for a global system.
Devcoin doesnt have to worry about that issue... also looking deeper you can see that as more people use it (demand increases) and supply is static.. this created deflation amd drives price up uniformly. Each year the amount of coin being created is exponentially less and less in ratio with total supply so it becomes scarce as people adopt and as time goes by.. this is why its a steal at these prices.