DigiByte v3.0.3 with Hard Fork @ Block 400,000 Officially Released What is in v3.0.3?* Hard Fork @ Block 400,000 to update difficulty calculation * DigiByte reward reduction @ block 400,000 * DigiByte Logo in Wallet * Old clients will be rejected by network DigiByte (极特币) v3.0.3 Wallet Downloads (下载) Does this apply only to mining? Or does it apply to all old clients regardless, meaning that sending and receiving DGB will be impossible until the client is updated? In the meantime, is it possible to send from old clients to new clients? TIA |
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First order of business - hire an experienced technical writer/copywriter. Second order of business - proofread everything. Ten times, if necessary. No one will take an organization that can't even write or spell seriously. Third order of business - post details of the investor/investment to show that this is not just another exchange pump ploy. A notarized copy of the investment contract is a good start. That's a bit overkill. I don't think it's necessary posting such an item online (under any circumstances - it's unheard of). Next we'll be asking for birth certificates and passports posted online. Overkill? Unheard of? You seem to be confusing this with a lemonade stand. Companies announce details of investments all the time. Some are required by law to do so. In fact, most startups are beyond eager to announce cash investments as it is a great form of validation - what more a fledgling cryptocurrency. What makes your DigiByte so special that we have to just blindly accept that someone has invested a quarter of a million dollars? EyesWideOpen, Can you give us just a couple examples that DigiByte could follow? With links to the postings, legal documents, etc.? |
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Thinking about it, I don't think that DigiByte has ever touted the fact that the Jared involved with creating this coin is "The Jared", BitcoinTate.
If I'm not mistaken, Jared has a very good reputation within the bitcoin community.
One and the same. The OP's been updated to reflect that fact as well. DigiByte = BitcoinTate = Jared Tate For more info check the website or his LinkedIn profile: https://www.linkedin.com/pub/jared-tate/90/9aa/257 No mysteries here.  |
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For those of us looking for a quick condensed version of recent developments and their ramifications, here is something that I hope is a worthy attempt at a quickly put together quick synopsis. The $250,000 investment makes possible two digibyte-focused startups: DigiPay LLC in California and DigiTrade International Limited in Hong Kong that will build a tangible, real life, real world, infrastructure around DigiByte which will make its actual and authentic use a reality.“With a private investment made for USD $250,000, the DigiByte Team now has the financial backing to build software and services around the DigiByte core protocol and bring DigiByte further into the digital and real world markets.” https://bitcointalk.org/index.php?topic=408268.msg9684050#msg9684050“The DigiByte Team is dedicated to creating and collaborating to provide businesses and services built around the digital world. The generation of simply “liking” what others have to say or they provide, or the idea of utilizing high fee alternatives like credit cards to pay for goods and services provided online is quickly coming to an end.” https://bitcointalk.org/index.php?topic=878788.msg9701196While the new strategic partnership with Hong Kong-based web developer Tofugear is completely independent of the investment and startups, it is highly complementary, especially from the logistical and developmental knowhow perspectives, and an essential ingredient for achieving the goals of the two startups."In collaboration with Tofugear Limited’s strategic retail, wholesale and technical development partnerships, the digibyte core protocol is currently being developed into a range of solutions that will revolutionize the consumer’s daily life." http://www.coindesk.com/digibyte-raises-250k-altcoin-retail-payments/"Tofugear is a Hong Kong company which does a range of things, including develop software for retail businesses and manufacturers. Partnering with a company at this level is another very good strategic move which can spell nothng but good for the currency, which presently trades at 18 Satoshi." https://www.cryptocoinsnews.com/digibyte-dgb-raises-250000-expands-operations/And there are still people willing to sell at 18 Satoshi? Just when you’ve thought you’ve seen it all . . .
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Every serious business publishes authentic contact info. If a nut or two choose to call, that's life, shit happens, but you've got to publish that info if you're really serious about being serious. What does IBM do with the nut cases who call them, or any company for that matter? What does the local furniture store do? What does the local McDonalds do? If you're serious, you've got to take the nuts with the good. There is a standard procedure for dealing with them, and you implement that procedure. What you don't do is hide (that's the territory of the nuts, not the serious) and you don't publish anything private either (more nut case terrain, but in the opposite direction). Hey, a business is a business, and there are certain things you can't get around doing, and having to deal with nut cases shouldn't be a consideration at all . . . other than how to deal with them when they do make themselves obnoxiously present.
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@DigiByte
I appreciate the consistent professional behavior and transparency that has been displayed by the DigiByte team from day 1.
Keep up the good work.
@ the cynics
You people crack me up. I especially love to hear from those that still hate scrypt because of asics. Grow up... I suppose the scrypt haters would argue that bitcoin should move off of SHA because only corporate miners can mine BTC anymore?
Everyone who is in crypto right now should consider themselves fortunate to even be in the game. Diversify & make some smart choices and you may have a huge payday coming in a few years.
Stick with the teams that show you their face and tell you their names. These are those with real skin in the game.
Thank you! It is refreshing to hear this. We are going to continue working hard each and every day to make things better... For all of us. We are all in this together. I agree. It's good to hear someone say something sensible, and hopefully, little by little, slowly but surely, the digital currency world will eventually grow up and we'll see the day when the sensible is common place and the ignorant the minority. |
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Not sure if this has been asked already but how did the investment work? Did you guys sell $250,000 worth of DGB to this angel investor? How many percentage of DGB did he buy with that 250,000? How will he be paid back? Or are you guys along with tofugear formed another company developing tech n services for DGB and the investment is actually for the company instead of DGB itself?
$250,000 worth of DGB at 20 satoshi would translate into around 3.272 billion DGB, more than the total existing DGB presently in circulation. I think the underlying basis of your question is valid though, in spite of your belittling tone. They did say they're going to open offices in L.A. and China, I believe, but that's very preliminary and somewhat superficial, and I too think it would be interesting to know more about what the investors are hoping to get for their investment. It's obviously not DGB, so what is it? Again, you bring up an important point regarding the need for further disclosure, and the more we can keep things serious and professional, the better the possibility we have for getting serious and professional answers. |
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Our aim is to augment the existing financial system and be a bridge and first step into the realm of digital currencies by offering both digital & real world solutions that play by the rules.
When it comes to people's hard earned money, that's the only option they will accept. Money has very clearly defined rules that have always been with us, continue to be with us, and will always be with us. There's no getting around that very basic fact. People want safety and guarantees when it comes to storing their wealth. They want to get their money back when they need it (and hopefully with some modest return on their investment). The rest of the crypto world seems to be missing that very critical point. BTW, your use of "digital" instead of "crypto", or "alt" has been lost on me for some time now - hereafter I'm not going to use the words crypto or alt again. Digital currency is the correct lingo for the serious digital currencies like DigiByte! |
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I've seen that happen on weekends before, and then sometime on Monday available balances start showing again. I can't say for sure what the cause might be, but it's probably something like a database glitch, or whatever that doesn't balance, and then there's likely an automatic overthrow to zero, just to be safe. Just speculating on the cause and possible mechanisms, but the issue of going to zero and then "coming back to life" is something I've seen more than once. Nothing to worry about. |
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Before we publish this to the media & larger crypto community we would like to get the DigiByte communities perspective on this: DigiByte Ecosystem With the announcement of our USD $250,000 private investment, we wanted to engage the greater digital currency community with an open letter on where we are heading now that we have the resources to take on some serious opportunities around DigiByte. In addition, we believe many of our offerings will have strategic benefits for other digital currencies out there, and if we can augment their offerings, we are excited to do so in the name of bringing digital currencies to the next generation of users! With the pioneering spirt of DigiShield and MultiShield, we have already proven this to be true to our fellow coins, and we hope they will sincerely support us as we work towards the development of the DigiByte Ecosystem. The DigiByte Ecosystem was built upon the notion that digital currency today really moves in only one direction – consumers ultimately get out. If we as users of digital currency actually expect this process to change, we must build businesses and services around our coins that will engage the greater global markets to find utility with digital currency, and result in actual value for these coins. The DigiByte Ecosystem is necessary to make everyone from the miner to the consumer to the merchant to see utility in carrying out transactions in these currencies, to prevent the significant downward pressure that coins like Bitcoin face today. In order for digital currency to grow and reach this level of utility, it must have inherent benefits for the consumer. Now for this issue, the proponents of digital currency are quick to say, “Why yes, there are many benefits for the consumer!” while in reality the far more analytical and pragmatic members of our global society are scratching their heads, trying to fairly and accurately answer this question. It is a challenge in today’s world to try to figure out where the consumer will get benefit from digital currency. Before you even get to the issue of the real world transaction (the holy grail of digital currency’s role in the global economy), you have some major issues to tackle: 1. Core ProtocolOne area where most of the current digital currency community has error in its focus is in ensuring that there is a Coin core protocol set up to support the need for fast transactions, suitable block rewards, and fairness across the spectrum of mining setups. DigiByte delivers on all three. DigiByte Payment Network today recognizes payments between users at lighting fast speeds, including instant notification of payment received and initial confirmation after 30 seconds. This is where consumers and merchants can immediately see great advantage over other currency offerings in the marketplace. For miners, the opportunity to mine on DigiByte’s five algorithms that utilize a wide variety of computer hardware means everyone now has a chance to get in on the network. Whether utilizing GPU’s, ASICs or CPU, everyone from the casual computer user to the gamer’s rig have the hardware necessary to begin mining DigiByte. As explained in the next section, this is crucial to the security of the DigiByte Network. 2. MiningThe genesis of bringing digital currency into this world, mining by today’s standard is not only something best reserved for those who know how to do it, but in many cases, those who already have the money for the hardware needed. For many digital currencies, including Bitcoin, the miner will need to invest substantial amounts of money to even have a fighting chance to be a part of the opportunity. For DigiByte, we transitioned to a multi-algorithm mining process to allow an equal playing field for anyone out there who wanted to join, to have a chance to be a part of the network and a take on the profit of mining they would otherwise not be able to see with other coins. This is extremely important, as a decentralized mining structure is crucial to the overall security of the network, and more miners means more decentralization. Mining is one of the core focuses related to the overall DigiByte Ecosystem we are fostering. In order to greatly ramp up the amount of miners out there and the hardware they can use to be relevant in the market, the DigiByte team believes mining should be as simple as pressing a button and letting your computer begin its work. In order to get one step closer to a real world adoption of digital currency and furthermore DigiByte, this is not a convenience, but a crucial requirement. 3. Digital Currency Trading PlatformsOne area where everyone can be in agreement today is that as far as digital currency goes, trading is still a major issue. Although there are many solutions out there today to let you get out of your digital currency holdings, getting into a digital currency position is still a rough process. Trading platforms are currently utilized to a large extent by the speculators in the market. They have a need for trading platforms to get in and out of the currencies traded, quickly. As time moves on and consumers view digital currency as a stored value and payment method rather than a speculative play, these platforms need to cater to the needs of the buying-in consumer, allowing them to more easily secure digital currency positions and tie these trading accounts to other financial and banking opportunities afforded to real world currency today. The DigiByte Team is focused on developing and implementing such kinds of services with the vision to establish such kinds of trading, banking and financial opportunities surrounding digital currency. As a means of creating the DigiByte Ecosystem, these developments will prove to be crucial for the non-mining consumer to enter the digital currency market, and leverage this influx of users with the hope of having a significant population of consumers with digital currency in their holdings, which leads to the next section. 4. Digital World UtilityIn the digital world, we are borderless. Every day we interact with people from all backgrounds and nations, in search of something much more different than what our real world lives provide. It is about connectivity, teaching, learning, entertainment, creativity and inspiration. Many of us log onto the internet each day, and where it can take us is rarely predictable. We have embraced the internet as our vehicle to the digital world. Then why shouldn’t we consider digital currency as a way for us to pay and support what we believe in and desire in the digital world?The DigiByte Team is dedicated to creating and collaborating to provide businesses and services built around the digital world. The generation of simply “liking” what others have to say or they provide, or the idea of utilizing high fee alternatives like credit cards to pay for goods and services provided online is quickly coming to an end. Through social media platforms that range from keeping in contact with your friends, writing on topics that are important to you, messaging the world and letting them know your opinions, or simply watching streaming videos online, digital currency will prove to be a means of letting people know what you think, in a way that users can bank on. The DigiByte Team is also focused on a key demographic of the digital world, which is the online gaming community. As a large group of the DigiByte Team is in fact online gamers in their spare time (what spare time, we know!), our solutions are also driven towards this very interesting niche market, which in a recent study measured this figure to be at 700 million gamers worldwide! That is astonishing! The DigiByte Team is already developing solutions and opportunities for the gaming community, and we believe that this mega community will be the next generation to bring value to digital currency in the world. The DigiByte Ecosystem and the Real World Utilization of Digital CurrencyNow we enter the final section of this open letter. And what better way to do that then to speak to the holy grail of digital currency: OK, we don’t have the simple answer now. What we do know is that initiatives like Apple Pay and CurrentC are accomplishing key changes to the consumer’s behaviors and preferences for real-world shopping: moving them away from magnetic strip plastic cards and using their mobile phones to initiate and process payments. This is extremely important, as the consumer’s transaction behavior is already beginning to change. From the consumer’s perspective, their needs will always remain the same, but their behaviors will change when it comes to available technology. The benefits that the consumer will realize for digital currency will first come from the digital world. With the combination of DigiByte having a recognized stored value, a means for carrying out a transaction and accumulation by the global market, DigiByte then will be very well positioned to take on real-world needs of global commerce channels. With our vision and strategy in mind, we wanted to leave you with one parting thought on DigiByte, and the future of payments:“We shall not cease from exploration
And the end of all our exploring
Will be to arrive where we started
And know the place for the first time.”
- T.S. Eliot
I've started a new thread with my main 'concern' for DigiByte in the near term (as well as the long term) over on DigiByteTalk where everyone else can also join in and it won't get immediately lost.
http://digibytetalk.com/index.php?topic=455.0 |
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Very nice. It looks like DigiByte just moved up to the majors. In more globally understandable terms, that would be: DigiByte has gone Big Time.
Wow, that is some impressive doings! One hell of a great job well done. (And only the beginning as we all well know.) I especially like the marketing summary paragraph. That's first degree corporate image material. 
DigiByte (DGB) is a rapidly growing worldwide professional decentralized payment network. The DigiByte Development team holds offices in USA and Hong Kong, with community developers spanned globally. DigiByte allow you to move money more securely over the internet similar to PayPal and Western Union, but with many improvements, including lightning fast transactions with minimal or no fees. Users send and receive DigiBytes to or from any DigiByte address in the world in a matter of seconds, with no required sign up, registration, or hidden fees.
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Thank you for the analysis! We really appreciate everyone weighing in on this as we are all in this together. We are all looking toward a bright DigiByte future, but at this exact moment we do have too many DigiBytes coming in too circulation too fast.
More importantly as the DigiByte user base & community grows we want to make sure people are incentivized well in to the future to keep DigiByte safe, secure & in high demand.
What we are really buying with this hard fork is more time to accumulate a much larger user base.
Sounds reasonable enough to me. I'm convinced. |
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Remember a few months ago when the algo change happened? The block reward was about 7647. Now it's about 6917. That's about a 10% drop in block reward over three months. Now there's a proposed change to make the block reward 2435 and then only drop 11-12% over the course of a whole year!! That's a huge slowdown to the reduction of the block reward and may result in a slight increase in value in the short term, not the long term.
If left alone, the block reward would hit 2435 in two years. And would continue to decrease faster than the new proposed change. This means that with the new change, in two years DGB will be adding coins to circulation FASTER than if they left the block reward as it is now.
Excellent analysis. I'm also inclined to agree with you on both the motives for catering to short term anxieties, and the long term negative consequences of doing so. I hadn't realized this would happen. Once again, thanks for this extremely important comparative analysis. Great work! |
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A sad day: 10 Satoshi new all time low  But I appreciate the interview - it raises hope for a brighter future for DGB. well THAT looked like an isolated dump (20M dgb dropped alltoghether) still the downward pressure does not seem to have faded and the buy support was annihilated XD guess it'll take a while for dgb to recover  36 million if you go by Cryptsy's data. Time stamped Nov. 18, 22:17 UTC. Major panic sell. Could mark the bottom. BTW, it was not an all time low - the all time low was 6. @ DigiByte, looks pretty sound to me, but why a cap at 21 billion? Other than to perfectly match BTC (which ain't a bad reason in and of itself)? Why not let the block reward continue to scale back on the same schedule indefinitely? With DGB at $1.30, it would still be profitable to mine with a block reward of only 10 DGB which is in practice zero inflation (the network continues to run at a 30 second pace for another 25 years or so after 2035, with only another 1.658 billion added during that entire 25 years), and by the time that is up, who knows, but what with historical fiat inflation being any indication, we might be able to project $100 DGB by 2060, and, well, everyone can do the math, but a block reward of 1 would still be profitable at that price and the real inflation of DGB would be ~0 while the network would continue to purr. Again, why put a hard cap into the code at this stage? |
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HR, . . . I want to clarify the quoted point : you have to understand that people who are loosing faith in the Altcoin market in general (and in Digibyte then because it's an Altcoin) . . .
. . . for approximately 9 months from now, the Altcoin market is in crisis... and DGB has suffered from it . . .
I agree 100% with what you say Moxymore, 100%. No doubt about it, the baby is being thrown out with the bath water, and this fact brings us back to, and reinforces, my main point: the incredible difference it makes to be able to distinguish between a winner and a loser at a very early stage. Since the vast majority of Altcoins are eventual long term losers, they're all being treated as something to be dumped as fast as they can be mined for whatever one can get out of them. That's unfortunate short term for the still unrecognized long term winner since it keeps price artificially depressed, and more unfortunate still for those who don't have the ability to take advantage by buying on the cheap, but, as I said before, the people who are buying are doing so with very big smiles on their faces. Those who are buying, as well as those who are holding what they already have, will be handsomely rewarded, and, since they have the ability to discern between the losers and winners, they are confident in that eventuality. For everybody else, it will take the actual disappearance of the vast majority of Altcoins before they realize which ones are going to be the winners, but by then it will be way too late since DGB will already be trading at 50¢. |
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If you ask me, way too much importance is being given to short term nonsense (what will most certainly be looked back on with 20/20 hindsight as short term nonsense anyway) and way too little being given to DGB’s long term trajectory.
Anyone who’s spent more than 2 minutes on the OP, or the website, and is also capable of reading and understanding the likes of a professional resume, or a company report, is quite clear about where DGB’s been, and has a very good idea about where it’s going, and anyone who’s spending time fretting over whether or not a delayed announcement is good or bad, when taken in context, is manifestly showing their incapability of doing any of the above.
Those who are capable of analyzing someone’s or something’s background and projecting future results based on that analysis are happily buying from those who can’t and are desperately selling. They won’t tell you now because they want to buy from you cheap, and they won’t tell you later because they’ll deem that you don’t deserve to know anyway.
Why am I the only one (or one of very few) who says this straight out? Why do I even bother? Because I’m a nice guy and a little stupid (which means that I never give up hope in my fellow man).
Look at Cryptsy’s last few hours of trading. What a coincidence, don’t you think? That we see that selling parallel in time with such desperation on this board?
Someone is laughing out loud at such short sighted anxiety. I guarantee it.
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Real nice chart 24 showing one critical ingredient to a healthy pullback within a longer term uptrend: declining volume. Nicely done. Now, we need price to hold at 17 (the 61.8% retracement level) / 16 the lower key bullish over/bearish under level. Nevertheless, the volume profile, with expanding volume on the upside, and contracting volume on the downside, is excellent. |
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Weekly, closing basis, technical analysis: We've broken below the rising trend channel on the daily charts meaning that we're currently in a short term pullback. It's time now to see how well price holds up and if volume dries up. Pullbacks are healthy if those two conditions are met. Let's see what happens. Remember, 19 is the lower end of the key over/under, bullish/bearish price zone from 19 to 22. It's also a 50% Fibonacci retracement of the bullish move off of the lows. (BTW, did we really get down to 12? Sometimes I wonder about the reliability of Cryptsy's data. I don't recall 12 ever trading. Did we really get down to 12?) |
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I wasn't trying to be rude to HR, just curious on the analysis. Glad we are strong as a community! YC No prob YC. Please don't let the hypersensitive world we live in – where simply confirming figures might be viewed as offensive – keep you from asking tough questions. I made an honest mistake, and if it weren't for your question, not only I, but everyone else reading along, would have continued our merry way ignorant of our error. We need tough questions, and honest answers as well, of course – something that's very painfully absent in, not only the crypto world, but also modern society in general and as a whole . . . so much so that we even confuse rudeness with simply wanting to get things right. Honesty and forthrightness are ultimately highly rewarded in money matters (maybe the last bastion of interpersonal interaction where people still aren't walking on eggshells with their dealings with each other?), and it's people like you that do the most to help move DGB from the realm of “funny money” to real money. Keep up the good work, and thanks! |
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