Keeping up

Author's note: This article is part of an ongoing blog about my adventures in the world of alternate currencies.


A couple weeks ago I noticed this new crypto on Vircurex which looked almost exactly like Devcoin, both in its price and abbreviation. The crypto was Dogecoin, abbreviated DOGE. For a while Devcoin was trading for between 90 and 100 sat. Dogecoin was trading for between 90 and 100 sat. Dogecoin is listed right above Devcoin. When the values of the two coins began to diverge I would get genuinely confused.

Then I happened to check the front page of the Devtome and there was a little article on Dogecoins. I read among other things that the rate of block was about a minuet sic and that it was the first cryptocoin that got its inspiration from an Internet meme–the Doge meme, to be exact. The time I noticed happened to be in the midst of Dogecoin's first major crash.

I didn't care to learn too much more about Dogecoin but I thought it sounded cute, and the price was low, so I traded close to 100,000 DVC and bought a bunch of Dogecoins. I was hoping that maybe Dogecoin would explode in value and I'd turn a nice little profit on a new coin. I figured that being freshly listed on Vircurex could only help its value.

Instead, Dogecoin's value has steadily fallen since I bought them, following a similar path to Devcoin back when I first got involved. Dogecoin is now worth 37 sat and will probably fall some more before it climbs again–if it climbs again. I've considered buying some more now that the price is less than half of what it was when I first bought.

But to do so would require that I learn more about the coin itself. Dropping a tenth of a Bitcoin on an impulse buy of some brand new altcoin is one thing. Dropping any more than that would be a crapshoot without further research. When am I going to find the time to research DOGE more thoroughly? I don't anticipate making the time for that anytime soon. But if people in the crypto community whose opinion I value start talking it up, I will take that more seriously.

The Next adventure continues

I received a reply from joefox about my NXT client not working properly. It began with “I'm a little behind in the forums…” My first thought was a sort of sinking thought that now that I'd invested a substantial amount (more than a tenth Bitcoin) in NXT I had now committed myself to keeping up with the NXT forum. And with what time?

The problem, he continued, was that the NXT developers updated the program and the old program doesn't work anymore. I followed joefox' instructions for installing the new program. At first it seemed to be working OK, but then it got hung up on some previous block, and stayed hung up on that block overnight.

A second email with further instructions arrived. I would need to delete some files, run the program again and force it to download fresh files. The email also mentioned things about sending me something which would help me manually update the block chain and connect with some well known peers in the network.

It's not that I'm unwilling to go through this process–I always learn something when I need to get more intimate with the inner workings of computer programs. I'm just not sure I want to be messing with my NXT client once a day for the foreseeable future. At some point I want it to just work as advertised.

I'm also frustrated that I have yet to successfully forge a block. I've had two instances of having generated an incorrect block and gotten my client hung up as a result, but I'm not sure if my client is capable of generating a correct block, whatever that means. I'm grateful to have someone willing to help me out, because otherwise I'd have to be poring through the Nextcoin Forum with a fine tooth comb to get the latest news and I'd have to figure out what all the technical computer stuff meant.

On the Devcoin front

I'm a Devtome admin. I sign up new writers, I maintain a copy of each round's receiver file, and I rate other writers. I do fairly well with all these duties, though it can be a bit of a challenge keeping up with all the new writer requests.

At some point I thought I'd try my hand at also categorizing articles, and that was another official duty of mine for a couple rounds. Only I was not keeping up very well with it, and yesterday I finally had to admit defeat. I knew I was not ever going to get around to categorizing the articles I was assigned. So I wrote the appropriate people and resigned from that job. Fortunately many of the newer writers are stepping up to the plate and taking on admin duties. The admin duties I still have are a good fit for me–I have to stay on top of them but it's happening at a pace I can comfortably match.

I can't say the same thing about the Devcoin thread, though. I've been out of the loop since sometime before Christmas. The main piece of ongoing information the thread provides is notification of any changes to how Devtome earnings are allocated and earnings themselves. While the unofficial files detailing ongoing earnings have not been consistently accurate for me, the final earnings tabulation always has been so I just trusted that it was accurate for Round 30.

Mining and other investments

My mining efforts seem to be doing OK with kicking off consistent rewards despite the recent difficulty increase. I think that if I could buy another 25 or so GHS I just might hit that critical mass where reinvesting half my BTC and all of my NMC earnings will be enough to grow my hashing power sufficiently to deal with the next difficulty increase. But then again I could be wrong on that. I don't exactly keep up with the overall mining situation either.

I haven't even mentioned my investment with Havelock until now. I know I have been paid a couple dividends since the last time I checked but I have not been back to see how my account is doing.

Virtual Mining is set to pay another two for one dividend in a couple days. It will be nice to receive a significant amount of DVC. I'll be cashing out half of it along with some of the small daily dividend that gets kicked off from my bond holdings.

Upcoming car payments

The big thing going on in my life right now is car shopping. We basically settled on a vehicle and now we're waiting for it to arrive from out of state. Then it's car payment time thirty days from the time we take possession of the vehicle. It's been generally a great experience getting this vehicle, but I had no idea how time consuming car shopping can be.

If the prices of Devcoin and Bitcoin remain at the level they are now I will easily be able to fund the new car payments through writing and then some. Even Round 30's meager earnings could turn out to be more than enough. We just might be able to also catch up on bills, pay off some consumer debt, buy a few extra things, and actually get ahead financially.

Even contemplating that last point seems surreal, and yet I've cashed out enough to know that the potential for fiat bill paying is really high. Even if all of this crypto wealth were to evaporate tomorrow, I can thank my earnings to date for a much reduced monthly car payment.

But these wonderful cryptoearnings come at somewhat of a price. I have to keep track of a lot of things, and keep up with what's going on. And my time is limited these days. But I'm not complaining.

Devtome Writers

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