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reviving_devcoin [2019/08/07 21:24]
raptorak
reviving_devcoin [2019/08/08 00:43] (current)
raptorak
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 Going with #1 is the easiest to handle in terms of the amount of work that is involved with keeping information flowing, but #2 is better in terms of segregating content and allowing better visibility for each category. Furthermore,​ the second one can be done through a native “multi site” setup on WordPress and writers can be given access to only the categories they want to write about. It could even be taken a step further and things like donation links could be added to their articles, author blurbs, etc., allowing authors to get bonuses on their earnings based on the value they are bringing to their readers. Each little site could have its very own theme and layout, and everything is very easily updated (and can even be automatically updated so nobody has to keep up with it). On top of this, getting custom add ons or themes is fairly easy because most web developers and designers work with WordPress, as opposed to Wiki, which is limited in what can be done without a ridiculous amount of work (and therefore money). Going with #1 is the easiest to handle in terms of the amount of work that is involved with keeping information flowing, but #2 is better in terms of segregating content and allowing better visibility for each category. Furthermore,​ the second one can be done through a native “multi site” setup on WordPress and writers can be given access to only the categories they want to write about. It could even be taken a step further and things like donation links could be added to their articles, author blurbs, etc., allowing authors to get bonuses on their earnings based on the value they are bringing to their readers. Each little site could have its very own theme and layout, and everything is very easily updated (and can even be automatically updated so nobody has to keep up with it). On top of this, getting custom add ons or themes is fairly easy because most web developers and designers work with WordPress, as opposed to Wiki, which is limited in what can be done without a ridiculous amount of work (and therefore money).
  
 +==Holding Admins Accountable for Earnings===
 +A big issue I have seen in the past is that some admins simply did not do anything and were still on the receiver for their duties. Most jobs in the past did not really take a lot of work, and I will be honest in that I have even slacked off a little in the past as a result of seeing how many shares were going to those who were contributing nothing still. This is something that absolutely needs to change – everyone that is getting paid by DVC needs to actually be doing their job in some capacity. Furthermore,​ each job should have its duties outlined so that everyone knows what is expected of them. Being an admin is akin to having a job at a company: each one has their own responsibilities and needs to be handling their job or things start to fall apart (which is something we are currently facing as I write this). Along with this, it is important for each admin duty to be paid according to the amount of work they are actually expected to do and what their value is in relation to the project as a whole. For example, someone who does web development and is creating new designs for the site and project should be getting rewarded more than someone who is doing something miniscule, like signing up new writers. The reason is that the former requires a lot of technical knowledge and the job in and of itself pays more in the real world (and thus them donating their time should be rewarded accordingly).
 +This should be run by a board of directors, in which it is worked out what jobs are needed, what tasks each one should have, and how they should be rewarded. This should be one of the first tasks to bring DVC back to life, as it is one of the most important ones. I do strongly feel that a lot of people in the past were disheartened because the amount of work expected of them was far greater than the small earnings they were getting, thus it made more sense to use those skills in the real world instead.
 +=Come Up With New Ways to Monetize=
 +One of Devcoin’s big issues is that while we have wanted to create a sort of way to reward people for their open source contributions,​ we also need a way to help prop up the price. It is still a somewhat new concept because most coins have failed to do so, but I think that if we work as a group we can find ways to build up monetization methods through more than just Devtome. The important part here is that we need to ensure that those who have access to the incoming financials are honest and trustworthy – embezzlement and other forms of theft are common among cryptocurrencies,​ and we need to do our best to not end up in the same boat. Some ideas that come to mind are weekly or monthly reports, report sharing (I know Adsense allows this) through a Devcoin-specific email or something, etc. Basically we need to have full transparency into what the system has earned, exactly where every cent goes (a full accounting system), etc. If there are ways to shave off costs, we should also do that (i.e., hosting things at a cheaper datacenter, moving to a VPS, whatever the case may be). Especially in the beginning, we need to treat the system as if we are bootstrapping a real business, as that is what we should be working towards building.
 +It may also be worth exploring different opportunities in other business types. Some that spring to mind are those like a search engine and an advertising network (there are some scripts available that could make this a lot easier, or we can potentially create our own, with payments to sites/for ads being made in DVC, giving it some more liquidity). Our own exchange could also be a good avenue, assuming we could design one that is secure, and use multi signature wallets or something to have multiple people keep the funds safe. Games could be another avenue, though these may need to be financed for getting outsiders on board (a graphical MMORPG could be created with Unity3D that uses DVC as the game’s currency, giving it both liquidity and a use right off the bat. The DVC earned in the game would be funded through admin shares). There are a lot of ideas here and they really differ on how in depth they are, so we should have a round table meeting or something of the sort to work out what would be feasible and create a list of short and long term goals. Each thing that is set up, though, should be feeding funds back to DVC, not going into admin pockets as an earning source.
 +==Exchange Ideas==
 +If we end up creating an exchange, I would really like to do something like Rawx.io did, where holders of a specific coin get “interest” (these are more like dividends) in each coin based on the fees generated by the exchange. We could use DVC as that base or even create a specific coin that is off the blockchain and is only held on the exchange. For example, creating 1,000,000 coins with a price of 10,000 DVC each and then each one would be entitled to 1/1,000,000 of the exchange’s income. There are a lot of ways this could work, so further discussion would be warranted. The big question is whether or not it is viable to start another exchange (of which I believe there is, especially if we have enough DVC users).
 +==A Push for Sustainability==
 +Something that has not happened in the past is sustainability with regards to DVC’s services. If we pay someone DVC to host a site (say Devtome), for example, the person may just turn around and liquidate the DVC. In this case, while we are paying for the service using the crypto, it is only pushing down the value of the coin due to being sold off and/or dumped (note that this is an example and I am not knowledgeable as to what has been happening to the DVC shares paid for hosting). Especially while DVC has little to no value, we need to push for as little selling as possible to help maximize the value it currently has while we work on building it up higher. The higher it goes, the more negligible the selling would become, and it would (theoretically) become a nonfactor over time. But while bootstrapping,​ this is paramount to its future.
 +===Rewarding Holding===
 +There was a little discussion about this in the past, but it never really went anywhere. I believe the idea was to possibly implement a sort of PoS system for those that hold coins over a specific period of time in order to help reward those that hold instead of dumping. I think we need to continue discussions as to the different avenues we can take to facilitate holding, even if it is only in the beginning. One possibility would be the Devcoin Foundation having shares that are rewarded to each holder proportional to how many coins they have or something like that, but then we need to figure out how to handle the exchange wallets. In any case, I would rate this at least somewhat important. As one of the holders myself, I have never needed anything other than my own belief in DVC’s long term goals to keep holding on to my coins, but I know I am likely in the minority with that (as we have already seen many people dump coins as soon as they could get them for whatever they could get in return).
 +===Getting on Exchanges===
 +I do not believe that DVC is currently on any exchanges. Being that it is an old coin and it has proven itself to be secure (especially since it is merge mined with BTC, the largest and most well known crypto by market cap), I think getting on some exchanges should be doable. I am not sure which are the most popular at this point, but YoBit and others could be useful. Maybe even Binance, being that the owner, CZ, is very involved with crypto and is looking to boost the entire community as a whole. That said, I can not really speak on behalf of DVC at the moment and I would not be able to answer technical questions if I was asked, so I am unsure how to actually go about pitching the idea of being added on any of the exchanges. MarkM is someone I believe would be better suited, being that he is a developer and I think he has helped with the wallet in the past?
 +====We Need a Community Coordinator====
 +We need someone that is great at marketing and getting DVC more known. This person should have already proven to be able to build communities,​ as we need to have one built around DVC. A lot of coins keep bringing on marketing people that have no idea what they’re doing, paying ridiculous amounts of money for absolutely nothing, so we need to ensure that we vet whoever takes on this role and that we are confident they are able to handle the various tasks needed to fulfill it. Things needed would include:
 +1) Marketing to people
 +2) Marketing to exchanges
 +3) Building a social network presence (Twitter, Facebook, Telegram, Bitcointalk)
 +4) Leading everyone else in growth of the DVC community
 +It would not necessarily be someone that has to do everything on their own, but rather someone that is both a self starter and has the know how to make everything roll fluidly.
  
  
  
 [[Category:​Devcoin]] [[Category:​Devcoin]]

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