I am a DeVCoin miner
DeVCoin is merge mineable. It means I can mine Bitcoin and DeVCoin at the same time and get more value for the energy spent on mining.
DeVCoin has a good ongoing hash rate, hard to create exploit attack, because it is mined on same equipment as Bitcoin. So mining is incentivized already by the Bitcoin value, and DeVCoin benefits.
DeVCoin chain is very long. It would be very difficult to create a new chain longer than DeVCoin without spending a lot of time and money. Someone would need a high hash rate for years of mining to overcome the DeVCoin network.
So why isn’t it trading more and at higher rates?
Lack of ongoing development, centralized ownership of main nodes, hoarding of rewards into a central pool.
Fix it and DeVCoin goes to .01 BTC based on mining power
Develcuy needs to let go and let many, many other node owners take rewards again.
It can work again
Interesting! Very good points and thanks for sharing unicode... So the security of the network is obvious. And its a very valuable thing if blockchains are to be used in a way that security fetches a high price per coin for the chain that coin is native to.
Trading? Because to protect and secure successfully - a bullshit act of fake exchange hacks and drama had to make people forget Devcoin existed while still offering plebs (myself included) an easy to access place to purchase my first DVC (back in 2018, was using altilly/Frei etc) - thus making it a FAIR and open project for those willing to research and commit to their gut feelings based on what they determined from that research.
Now as far as centralization you hit on it exactly. But a centralized entity or very tight hands controlled rollout is what makes this work in the long run too. It's protected the chain from any rich person coming in and buying all the cheap devcoins up so that others couldn't have a four year window to buy and find us at 1 sat. It's very fair game to people like me because of that. Also, rich people from outside the inner circle seem to not have found us or seen a reason to invest in our "worthless" 1 sat "shitcoin" with "lack of ongoing development" - good work master planners. These centralized entities will let go of their coins when the time is right and even if it was some sort of weirdo hoarding them all, the incentive to let them go by "fixing it" in the manner you recommend catapults the price from 1 satoshi to 1 million satoshis per DVC. So I assume they would be making sizeable, epic gains in value they could finally cash in on - thus the hodling of coins would not be a lucrative option and giving them up would be in the best interest of EVERY DVC hodler and whale alike.
I think what you said is unfolding already. I trust this project and the devs. If you have anymore thought to share on why the 0.01 BTC value would be achieved don't be afraid to reply to this with expanded technicals of that particular valuation and why DVC would get there. Thank you!