DigiByte is a decentralized crypto payment network based upon Litecoin & Bitcoin that works in a similar fashion to PayPal & Western Union but with many improvements. DigiByte is fast, secure & world-wide! How does that sound to everyone? |
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We are officially dropping the word "currency" from any of our publications or promotion.
DigiByte is a decentralized crypto payment network based upon Litecoin & Bitcoin that works similar to PayPal & Western Union. DigiByte is fast, secure & world-wide!
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Should we re-brand DigiByte? According to Article 1 Section 8 of the US constitution no one but the federal government can coin money or make currency. Since we are an American based team we have come to the consensus we are technicality violating our own constitution. To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; We are considering completely dropping any reference to the term currency and re-branding Digibyte as a "Professional decentralized crypto payment system." When we try and describe what a crypto currency is we often get the deer in the head lights look. But recently we have been trying the approach "Digibyte is like a faster, cheaper more efficient form of PayPal." This seems to be something people can relate to and understand. Essentially we want to start promoting DigiByte as a payment platform for merchants were we send bytes back and forth and not so much as a "currency" per say. Technically the same horse, but new name. Same car, new paint job. This may be a way to separate DigiByte from the other "coins." What are your thoughts? The fact that you are concerned about respecting US constitution is probably the best communication ever. I believe today there are different groups of people regarding cryptocurrencies: 1/those who know the money they invest in is worth nothing, and is just a speculative value, they want to buy cheap, to dump high, and make easy money ( by fooling people in making them belive they are buying the ultimate "coin") 2/those who believe that the coin they've chosen will have the same destiny as BTC and keep it, hoping that it will have a high value, in monthes or years 3/those who could be interested in crypto but are just afraid to be dealing with the guys of 1/ ... and probably need a reason to get DGBs (create a need) and arguments to trust the "coin". I believe we , DGB supporters are the 2/ and need to show to 3/ that this is honest business. Being concerned about laws, is probably the best approach to convince people you are not just scaming them by making false money. conclusion: -show this i an honest business(respect laws, don't hide things) -create a need ( seal deals with resellers, push DGB as the new payment system, fast and secure) -let the world know about that And it should be good. Very interesting insight! We are definitely concerned with the laws. But more importantly we do not see DigiByte replacing any national currencies, over throwing banks etc like many people in the crypto community would like to see. We see it as augmenting the existing system and providing a much more efficient payment system to merchants around the globe. To push this technology into the main stream we need to relate it to people in a manner they understand and can relate to! |
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@digibyte
when do you send me the information for the promo video?
We are still preparing it. It might take us a couple more days as we are preparing all the info and materials for the crypto currency convention. We have also had some other unexpected things come up. Sorry for the delay but we need to get it done and make sure we have a solid professional presentation and presence at the convention. |
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Should we re-brand DigiByte? According to Article 1 Section 8 of the US constitution no one but the federal government can coin money or make currency. Since we are an American based team we have come to the consensus we are technicality violating our own constitution. To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; We are considering completely dropping any reference to the term currency and re-branding Digibyte as a "Professional decentralized crypto payment system." When we try and describe what a crypto currency is we often get the deer in the head lights look. But recently we have been trying the approach "Digibyte is like a faster, cheaper more efficient form of PayPal." This seems to be something people can relate to and understand. Essentially we want to start promoting DigiByte as a payment platform for merchants were we send bytes back and forth and not so much as a "currency" per say. Technically the same horse, but new name. Same care, new paint job. This may be a way to separate DigiByte from the other "coins." What are your thoughts? That sounds like a good idea. It's funny how a simple rephrase of things can tremendously alter people's outlook. Its amazing how much easier it is to explain DigiByte and crypto currencies by starting out with this approach. |
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Should we re-brand DigiByte? According to Article 1 Section 8 of the US constitution no one but the federal government can coin money or make currency. Since we are an American based team we have come to the consensus we are technicality violating our own constitution. To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; We are considering completely dropping any reference to the term currency and re-branding Digibyte as a "Professional decentralized crypto payment system." When we try and describe what a crypto currency is we often get the deer in the head lights look. But recently we have been trying the approach "Digibyte is like a faster, cheaper more efficient form of PayPal." This seems to be something people can relate to and understand. Essentially we want to start promoting DigiByte as a payment platform for merchants were we send bytes back and forth and not so much as a "currency" per say. Technically the same horse, but new name. Same car, new paint job. This may be a way to separate DigiByte from the other "coins." What are your thoughts? |
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We just removed CryptoRush from all our links & lists of exchanges.
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While we understand the urgency of changing quickly but there are several things that need to be analyzed first. This is not a move we want to make without doing our homework. It could have disastrous consequences.
For those who are new to the crypto community there was a type of mining hardware developed for mining Bitcoin before ASICs known as FGPAs. They were essentially an improved, specialized graphics card the only worked for mining Bitcoin mainly used in 2012 beginning of 2013. They were rendered obsolete by Bitcoin ASICs but there are still a lot of them out there with nothing to do at the moment.
We have heard some reports of people using FGPA's to mine X11. We need to verify whether this is possible or not as this would give a very tiny part of the crypto community a huge mining advantage.
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We need to change our algorithm ASAP !!!!
Most definitely X11 algorithm or a POS if possible...maybe an X11/POS hybrid...is that easy to code? I doubt it but it would lead the way since X11 and POS are the future of crypto, there's a reason why X11 and POS coins are going up in price right now. The bottom line is that we need to adapt a new algorithm otherwise we will be left in the dust, which of course won't happen. Digibyte has the best developer of any coin, that's why I jumped onboard from day 1.
do not change to N scrypt or Jane Scrypt. (see paragraphs below as to why to not chose N scrypt, i obtained them from Hirocoin website). Once ASICs come out in full force, only 1 or 2 scrypt coins will thrive and many other scrypt coins will die off. N Scrypt is good the only problem is that GPUs can't mine them profitably (because of high RAM requirements) and ASICS won't focus on them because they are very resistant to ASICS obviously so then if GPU and ASIC cannot secure the network for N Scrypt coins then what will keep the network going?....X11 has 4x the hash rates, uses very little electricity and is extremely secure using a series of several algorithms....
There other hash solutions out there the best known of these being Scrypt-Jane and Adaptive-N which for the most part are the same. They both use a variable N factor which is locked to 210 in Scrypt. This is the memory requirement, 210 works out to 1024 bytes. Vertcoin a very popular Adaptive-N coin currently uses an N factor of 211 which works out to 2048 bytes, every time the N factor goes up the performance of miners drops by half. Vertcoin currently has half the performance of Scrypt and has a maximum N of 232 which works out to 4GB, most graphic cards cannot even do work at that level and with the current hash rate the difficulty of Vertcoin could not go low enough to support that level of N. Scrypt-Jane and Adaptive-N may be ASIC hostile but they are also GPU hostile.
There is an alternative that has been largly over looked which was created by Even Duffield. This is the chap who created DarkCoin which looks to include the DarkSend feature that will allow anonymous transactions. X11 uses 11 well known and high performing hashing solutions chained together to generate the hashes required to generate new blocks. Since it uses 11 different hashes it is complex and unlikely to see a ASIC for it any time soon. The good news for miners is that they can use X11 right now to avoid multipools and start gathering coins that are going to become very important when the Scrypt ASICs hit. Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates more heat. This is the solution that people have been looking for.
There is also Hirocoin that has launched recently and adopted X11 as its hashing solution. Hirocoin does not have the DarkSend feature but has been meticulously coded and fully featured on launch including DNS seed and binaries for different platforms. DarkCoin uses an inverse difficulty reward which means that the higher the difficulty the lower the reward. More miners means less coins, Hirocoin is more conventional in that it has 400 coins a block and is likely to be the first choice for miners.
While we understand your urgency there are several things that need to be analyzed first. This is not a move we want to make without doing our homework. It could have disastrous consequences. For those who are new to the crypto community there was a type of mining hardware developed for mining Bitcoin before ASICs known as FGPAs. They were essentially an improved, specialized graphics card the only worked for mining Bitcoin mainly used in 2012 beginning of 2013. They were rendered obsolete by Bitcoin ASICs but there are still a lot of them out there with nothing to do at the moment. We have heard some reports of people using FGPA's to mine X11. We need to verify whether this is possible or not as this would give a very tiny part of the crypto community a huge mining advantage. |
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I am wholly in support of x11, I have held digibyte since day one, digibyte has the chance to be ahead of the curve.
We should implement it asap, before we are lopped in the pile of scrypt junkyard coins.
We need to make sure we are not opening the door to a massive FGPA mining invasion by switching to X11 right away. For those who are new FGPAs were specialized hardware developed before ASICs but after GPUs. There are a lot of them around out there just sitting. They would potentially give FGPA holders a significant advantage if they are able to mine X11. |
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I think I've made up my mind. I would vote to change to algo and use X11. I've recently been fooling around with it and it is amazing. The speeds are significantly faster than scrypt and the cards run much cooler and use less power and lower fan speed. It's actually incredible. That's my personal vote, X11 all the way.
Check it out guys
https://bitcointalk.org/index.php?topic=475795.0;alldifferent kernals have different speeds. DRK ~2.5 MH/s on R9 290 Q2C ~5 MH/s on R9 290 QRK ~2.1 MH/s on R9 290 MYR ~10 MH/s on R9 290 FC ~145 MH/s on R9 290 INK ~45 MH/s on R9 290 ANI ~1.8 MH/s on R9 290 GRS ~5.5 MH/s on R9 290 The X11 algo does look promising, but we need to find the answer to the FGPA question. If FGPA's are able to mine X11 we are going to end up with a whole new problem on our hands. As far as we know no one is selling FGPA's anymore. So those people or groups that have them could gain a significant advantage. |
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DigiByte Fact of The Day Over 30 million DigiByte transactions have now taken place on the DigiByte network! |
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Has anyone read anything about FGPA's being used to mine X11?
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Has anyone else tried out the X11 algorithm and has any opinions, comments or insights? The X11 algo looks like it is also more friendly to Nvidia cards. Does anyone have any data to back this up?
If so that opens up a huge untapped market for new miners.
I saw in the darkcoin forums people reporting huge hash rate increases with nvidia cards. I'm glad you are considering X11... it's a VERY wise choice and the fact you are even debating it just made me spend another btc today on more digibytes. It does look promising. We have also read that FGPA's can mine X11 easily as well. Can anyone confirm this? |
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Has anyone else tried out the X11 algorithm and has any opinions, comments or insights? The X11 algo looks like it is also more friendly to Nvidia cards. Does anyone have any data to back this up?
If so that opens up a huge untapped market for new miners.
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If you were to implement x11, consider me on board.
There other hash solutions out there the best known of these being Scrypt-Jane and Adaptive-N which for the most part are the same. They both use a variable N factor which is locked to 2^10 in Scrypt. This is the memory requirement, 2^10 works out to 1024 bytes. Vertcoin a very popular Adaptive-N coin currently uses an N factor of 2^11 which works out to 2048 bytes, every time the N factor goes up the performance of miners drops by half. Vertcoin currently has half the performance of Scrypt and has a maximum N of 2^32 which works out to 4GB, most graphic cards cannot even do work at that level and with the current hash rate the difficulty of Vertcoin could not go low enough to support that level of N. Scrypt-Jane and Adaptive-N may be ASIC hostile but they are also GPU hostile.
X11 uses 11 well known and high performing hashing solutions chained together to generate the hashes required to generate new blocks. Since it uses 11 different hashes it is complex and unlikely to see a ASIC for it any time soon. The good news for miners is that they can use X11 right now to avoid multipools and start gathering coins that are going to become very important when the Scrypt ASICs hit. Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates even less heat.
This is the solution that people have been looking for.
Thank you for posting this feedback. Which specific coins are currently using X11? I would like to run some of my own hardware tests for comparison to see exactly how it performs. Right now i relatively positive that only DARKcoin and HIROcoin have implemented the x11 ALGO. Some quick specifications .. 1 r9 270 can run at about 1.2-1.5 M/Hash .. ( This is more or less irrelevant, as everybody gets an equal increase ) You will experience about 30-40 % less power draw. Measure it. I did. You will no longer hear your GPU's sound like they are about to take off into the atmosphoere. My r9 290's used to sound like a blow dryer or vacuum cleaner.. Audible even with the door closed from across the hallway... Now with x11, I can't hear my r9 290's at all. They aren't silent, but they aren't about to explode. Expect GPU temperatures to be much lower, and thus, save lots of money on air conditioning in the summer. -- I know a few miners who had planned to shut down during the summer, but instead will solely mine x11 during the summer. Come join hiro.suprnova.cc for a round or two just to see how your GPU's perform... HIRO is pretty unprofitable to mine i think, but just try it. Use sph SGMiner .. Or the darkcoin miner .. just append -kernel darkcoin to your .bat file to tell it your mining x11 Very informative, thank you for posting. |
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First of all, great effort and i love your dedication. But i don't think this is a "professional" video. I thought digibyte wanted something like this: https://www.youtube.com/watch?v=Um63OQz3bjo&list=PLOBMT9KFLoap5AHR-wdSM6S7Ub1_lQbTxIt's completely animated and u need somebody that is specialized on that. I've spoken to a couple of animators and they say it's about one week's work to make this. Too bad that those animators i know don't care much for cryptocurrency, so they are not willing to make it cause it's a lot of work ( i begged them  . Maybe someone knows an animator who loves cryptocurrency and is willing to help? But in this video there are some parts that can be used for the more professional one, so it's very usefull. And in the video there's no digiman, i think he must be in it too. Also, when u export the movie check your audio settings, cause i heard the original mp3 and it's much clearer then the one in your video. I'll be made that. but what you said, It's cost a lot of time. I'm now looking for kinemac the things you can do with that is a lot of more and works easier but the video is always worster than from the bitcoin.. and for anybody who will know it. I works 12 hours of this video. ,./,./ Thank you for taking the time & energy to work on this video! We are preparing some images to send to you that we think may help improve it at certain points in the video. The flow of the video is logical and is a good start. Since you have have stepped up to the plate and produced a video for DigiByte we definitely want to give you some more feedback and hopefully we can get to where we need to be with the video. Thanks again and we will be PMing you by tomorrow with more details. We need some time to prepare and figure out exactly which images we can use and where to use them. We just sent some DGB your way for your efforts and there will definitely be more if we can work together and pull this off! Thanks again! Your energy & enthusiasm is much appreciated! |
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A few things: 1.Fiat/DGB direct exchange which allows credit cards, ACH, wires, etc as forms of payment. Also, have a reasonable withdrawal / deposit amount of funds. 2.Merchant acceptance. Will need someone large -- Overstock, Amazon, Ebay that can make a press release and have the masses see why its secure and easy/ 3.Media - Need to get more of the larger media outlets to constantly put DGB in front of consumer's eyes. Thanks, YC With so many new coins being released, and people moving from coin to coin like a mob, what do you think is the best way for DigiByte to break away from the pack?
We feel that focusing on getting DigiPay up and running and a few big merchants accepting DigiByte is what will allow for this to happen. What are your thoughts?
We very much agree YC and this is the focus of what we will be trying to accomplish with the NY crypto convention. Making connections to help make this a reality. |
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With so many new coins being released, and people moving from coin to coin like a mob, what do you think is the best way for DigiByte to break away from the pack?
We feel that focusing on getting DigiPay up and running and a few big merchants accepting DigiByte is what will allow for this to happen. What are your thoughts?
Digibyte can maybe tap into the Chinese market perhaps try and get onto bter.com exchange This would be nice move. It would be like getting onto Cryptsy... This is a good point, promoting DigiByte into the Chinese market would be a great step. The first thing we need to get figured out is exactly how to translate "DigiByte" into Chinese. We have had several people tell us how to translate it or how they translated it but it has received different Chinese names from different people. This obviously can cause problems. We don't know who to listen to on this as people are obviously translating it to what they think the name should be. Are there any reputable sources that might help with this and would understand exactly what we are trying to accomplish? |
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If you are going to change algo, you can also add PoS... Energy efficient X11 + energy efficient PoS.
+1 +2 +1 To some up our current position on POS we would like to use a tweet from Wonderloops on Twitter: POS as a distribution-method makes "The rich richer, the poor poorer". |
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