Can anyone confirm that Digihash is hosted in New Jersey? I thought it was going to be in Texas or something originally but since my ping time is a lot lower than when it first went live I am going to switch over. Plus, supporting the devs =). Also a thumbs up for http://birdspool.no-ip.org:5021/static/stats/ that p2pool has been rock solid and birds a cool guy that I've gotten a chance to talk to a few times. If you are really concerned about your fees, I believe birdspool is only .5% if im not mistaken. Its my opinion we really should be spreading the hash around by supporting the Devs pool or boosting the P2pool pools. The IP for DigiHash is 66.228.56.115 and that points to Atlanta, Georgia, but the router at linode.com looks like it can re-route on demand to Absecon, New Jersey (both East Coast locations and ideal for anyone on that side of the U.S., and even for folks on the West Coast it's still one of the best bets). Bird's P2Pool is located in Massachusetts, CryptoMiningPool is now located in England, The Blocks Factory and Miners Pool EU are both French based, and that's the rundown for the Groestl pools' server locations. For the rest of the pools that don't also offer Groestl mining, OmarG Pool's server is located in Niagara Falls, Ontario, Canada, ispace is located in New Jersery (in spite of its co.uk top level domain), CoinMine is in Phoenix, Arizona, DigiForce is located in Bayern, Germany, E-Pool is in Netherlands, and French P2P is also French as its name suggests. Good coverage for North American and European miners, but with a noticeable gap in Asian coverage (not even Australia or New Zealand, surprisingly). I wonder about private pools in Asia . . . and attackers . . . the more transparency the better . . . all pools should be obligated to publish their name in the blockchain with each block found (and solo miners with an IP identification at least), and there should also be more security layers added with e-mail registration for each new wallet install, etc., but those are other issues that I've harped on before, and will leave for, other, future occasions.  |
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Algo Hashrate Equivalents (With configurations tweaked so that a target temperature of 80º is respected and not repeatedly hit (where the cards settle into a 78º +-1º temp and work nicely with fan speeds that average 50% when using groestl, but run much hotter and faster, respectively, using the other algos). SHA-256 = 1 GH/s Scrypt = 1 MH/s Groestl = 40 MH/s Skein = 120 MH/s Qubit = 5.65 MH/s Does anyone have differing stats? @Arsenay, yesterday I pulled down 55,827 with only four 7950's - and I've averaged 57,953 over the last 4 days (with cool running, energy efficient, -k myriadcoin-groestl). 
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Do you use the default parameters or do you enter data that matches your cards for http://whattomine.com?Especially given the attacks on Groestl im thinking I need to switch from qubit to groestl. The default parameters are based on the -k groestlcoin kernel, and even then, groestl is always fighting for the top spot. With MYR even more so. I change the parameters to meet with the -k myriadcoin-groestl kernel, and that's double the -k groestlcoin. Here's something else that looks fairly reliable: https://docs.google.com/spreadsheets/d/1OdhCDxtDtLLuW-dK4hfIrD55c2nBGXbBonG0haBJB0o/edit#gid=0 That groestl data is also based on the simple -k groestlcoin kernel analysis . . . so double what you see there and . . . BTW: https://dgb-groestl.theblocksfactory.com/ hashrate has shot up by 10x in the last 24 hours. Must be everyone who was on cryptopoolmining.  Boostpool is still hammering away too.  Edit: People in the U.S. should also seriously consider http://birdspool.no-ip.org:5021/static/stats/ - it's reliable and honest; you just have to wait for the rolling payouts to ramp up (and the other side of that coin is that you continue to receive payouts for the rolling payout period even after you've left!). The new, official, DigiByte NOMP pools look good too. |
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It's out of my hands now as it's been sent to DigiByte to use as they see fit. Perhaps you might send them a PM offering your services. I think it should be relatively easy to clean up (a few AV products generate alerts for the Windows exe, for example) and turn into something DigiByte official (giving credit to previous developers of course). It's by far and away the most profitable way to mine DGB. Why make me chase the dev's?  Because the Dev's expressed an interest in making it DGB official. That's a good thing. It'll give clout to the miner eventually released, and will also add to DigiByte's resume as it were. Anyone who wants to download the current grs-sgminer (warts and all) that let's you use the -k myriadcoin-groestl kernel can do so by downloading the AidBit wallet http://www.aidbit.net/download/ (be sure to disable your AV beforehand) which installs the windows version along with the wallet install (I believe this is still correct anyway). Then, you'll need to locate your miner install, and independently configure appropriately. For everyone else, I suggest waiting for the DigiByte team to release a new, improved dgb-groestl-sgminer. The Linux version already looks great and ready to go as is, and just needs to be renamed and uploaded to github. The Windows version needs a couple of tweaks and to be made official . . . I think anyway. I only have remedial code reading abilities, and am not a programmer by any means. |
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It's out of my hands now as it's been sent to DigiByte to use as they see fit. Perhaps you might send them a PM offering your services. I think it should be relatively easy to clean up (a few AV products generate alerts for the Windows exe, for example) and turn into something DigiByte official (giving credit to previous developers of course). It's by far and away the most profitable way to mine DGB. Groestl beats out qubit in profitability? I thought pools like boostpool.com were inflating the Groestl difficulty enough that it was harder to get normalized payouts. I tried everything qubit is best for my hd 7xxx: 7970 7950 7850 7790 cold and less diff and more profit and all of this perfectly clear here: https://dgb-qubit.theblocksfactory.com57 Day Chart - DGB (and BTC equivalent) Daily Mining Proceeds for each 1 MH/s Check out how your BTC equivalent proceeds have stayed constant – for a variety of reasons, but mainly because as price falls, mining falls, and difficulty falls, giving the miner more DGB rewards, and thusly keeping the BTC equivalent steady. Interesting observation I thought. |
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It's out of my hands now as it's been sent to DigiByte to use as they see fit. Perhaps you might send them a PM offering your services. I think it should be relatively easy to clean up (a few AV products generate alerts for the Windows exe, for example) and turn into something DigiByte official (giving credit to previous developers of course). It's by far and away the most profitable way to mine DGB. Groestl beats out qubit in profitability? I thought pools like boostpool.com were inflating the Groestl difficulty enough that it was harder to get normalized payouts. My periodic postings regarding mining profitability are all groestl. |
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This certainly seems to be wrecking havoc on the MYR blockchain.
What are the suggested fixes for DGB? I thought I remembered that it wasn't possible to mine more than 6 blocks in a row of a single algorithm. Wouldn't that successfully mitigate this threat?
From what I've been reading, the general opinion is that the most vulnerable "alts" are those that have deviated the most from the original BTC code, with the more "bells and whistles", neglect of basic security issues, and 'coders' who really don't have much of an idea about what they're doing, all leading to the most potential disaster. MYR certainly fits that bill. Let's hope that DGB's more serious and conservative, security sensitive, and greater knowledge and know-how makes things different for us. |
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ALSO:
I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.
Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards. He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool. My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the " -k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all). https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640https://bitcointalk.org/index.php?topic=652849.0I would like to correct something in the above post (it's been a while since things have been on "autopilot" and my memory didn't serve me too well, and, today, when I was putting together some stuff for DigiByte, I realized my mistake): It was grs-sgminer's original "-k groestlcoin" kernel that doubled sph-sgminer's hashrate, not the "-k myriadcoin-groestl". The "-k myriadcoin-groestl" kernel quadruples the original sph-sgminer's hashrate! (I even understated it to you DigiByte in the PM I sent by saying it tripled the hash rate . . . it's actually a quadruple!) More specifically, with a 7950, sph-sgminer ran at about 5 Mh/s, grs-sgminer with -k groestlcoin at about 10 Mh/s, and grs-sgminer with -k myriadcoin-groestl has a hashrate of 20 Mh/s. If you wouldn't mind sending me the source code I'll take a crack at it. It's out of my hands now as it's been sent to DigiByte to use as they see fit. Perhaps you might send them a PM offering your services. I think it should be relatively easy to clean up (a few AV products generate alerts for the Windows exe, for example) and turn into something DigiByte official (giving credit to previous developers of course). It's by far and away the most profitable way to mine DGB. |
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ALSO:
I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.
Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards. He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool. My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the " -k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all). https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640https://bitcointalk.org/index.php?topic=652849.0I would like to correct something in the above post (it's been a while since things have been on "autopilot" and my memory didn't serve me too well, and, today, when I was putting together some stuff for DigiByte, I realized my mistake): It was grs-sgminer's original "-k groestlcoin" kernel that doubled sph-sgminer's hashrate, not the "-k myriadcoin-groestl". The "-k myriadcoin-groestl" kernel quadruples the original sph-sgminer's hashrate! (I even understated it to you DigiByte in the PM I sent by saying it tripled the hash rate . . . it's actually a quadruple!) More specifically, with a 7950, sph-sgminer ran at about 5 Mh/s, grs-sgminer with -k groestlcoin at about 10 Mh/s, and grs-sgminer with -k myriadcoin-groestl has a hashrate of 20 Mh/s. |
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ALSO:
I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.
Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards. He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool. My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the " -k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all). https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640https://bitcointalk.org/index.php?topic=652849.0HR, We would love to have a link to the original source. We have been looking into this & we have someone who can break it down even farther for us. Right now groestlmyriad is the weakest of the five DigiByte algos. We need to get it sorted out and more mining pools online. Thanks for sharing this! |
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ALSO:
I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested.
Hi HR, thank you for keeping us up to date with your stats. I will have a look on the original Myriad-Groestl srcxxx optimized bins. I thougt these bins only work on his pool. Maybe i can change this to get it work on every pool. Since difficulty is dropping again i could be profitable again to put a bit more power to my cards. He originally developed two different optimized kernels that significantly increased hashrates over the previous sph-sgminer ( https://github.com/prettyhatemachine/sph-sgminer ). His miner, grs-sgminer, allowed you to use the "-k groestlcoin" switch on any pool, or the "-k optimized" switch that only worked on his pool. My understanding is that he depreciated the github files for his original grs-sgminer that allowed you to use either switch. I could be mistaken though, but the idea that I have is that his current grs-sgminer only works with his proprietary "-k optimized" switch. If that's the case, then I think it would be interesting to fork his original grs-sgminer making available new installs once again that permit the use of any of the non-optimized kernels on any pool of the miner's choosing (grs-sgminer, using the " -k myriadcoin-groestl" switch, more than doubles the hashrate of sph-sgminer with only about a 20% increase in electrical usage - not bad at all). https://bitcointalk.org/index.php?topic=652849.msg7503640#msg7503640https://bitcointalk.org/index.php?topic=652849.0 |
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57 Day Chart - DGB (and BTC equivalent) Daily Mining Proceeds for each 1 MH/s Check out how your BTC equivalent proceeds have stayed constant – for a variety of reasons, but mainly because as price falls, mining falls, and difficulty falls, giving the miner more DGB rewards, and thusly keeping the BTC equivalent steady. Interesting observation I thought. Overall heavy volume means that long term weak hands are being purged from the market and strong hands are taking advantage of that liquidation. It won’t last forever. Hi YC If you order 1 you will receive 1000 DGB. I have bought 4 batches of 1000*1000 = 4000000 Lawzt How were you able to buy at that rate? Max order is 1000 DGB at once. YC Hi all Great day to buy some DGB. Bought 4 Mil @ litebit.eu today only paid 178$  @ Digibyte great news about DigiHash!! im testing it as we speak. Regards I just had a chat with litebit.eu how much Digibyte have been bought. 12.990.136 Digibytes in 24 orders An average 541255 Digibytes each order. This could be much more offcourse! They have a great service and everything works really fine. We need more promotion with Litebit.eu This is a great idea! They seam to have a really solid service! We are updating the website some more to inform people on the best & easiest way to get DigiBytes. https://www.cryptocoinsnews.com/400-european-banks-accept-bitcoin-purchase-agreement/Maybe "old" news but it's interesting! More European banks are becoming associated with Bitcoin. While short-term investors see the dollar price drop on Bitcoin, and panic sell in droves, Bitcoin gains another major international deal signing in Europe. 247Exchange.com, based out of Belize, has secured an agreement with Sofort Banking, providing Bitcoin purchasing access to over 22,000 European bank branches throughout the continent. Now over 400 European Banks Allow Direct Bitcoin Purchases euro banks accept bitcoinEuropean banks are now joining the list of major retailers already accepting Bitcoin directly. Now, Bitcoin is even easier to buy if you have a bank account in most European countries. All you need is to be a member of one of the hundreds of banks, and you can buy not just Bitcoin, but many other crypto-currencies as well quickly, and easily. This covers over 400 banks in ten countries (Germany, Austria, Switzerland, United Kingdom, Netherlands, Belgium, France, Italy, Spain, Poland). This will enable 99% of all banks in Germany to accept Bitcoin purchasing through 247Exchange. Slovenia and Hungary banks are still to come as an addendum to this agreement. 247Exchange will take your order, and process it with your member European bank, with instant transactions that are completely secure and free for the sender. Sofort AG is a merchant/banking conglomerate out of Munich, Germany that represents over 30,000 merchants and hundreds of banks through out Europe. “Why do people choose our service? There are a lot of reasons. But mainly for its speed, fair fees and reliability. Purchasing bitcoins has never been so easy in Europe. However, the company’s aim is to create a comfortable exchange for all cryptocurrency users no matter where they are located and what currency they use.” says CEO Alexey Maximenko This news dovetails with other international merchant agreements that give more people more access to Bitcoin worldwide. For instance, Indonesia’s 238 million residents now have access to Bitcoin through a network of over 10,000 convenience stores in an agreement between Bitcoin.co.id and Indomaret last month. My sense is that Europe is by far and away the most serious about crypto-currencies. Leaps and bounds beyond the rest of the world as far as mentality and acceptance goes. We want to let everyone know the announcement we were planning for today has been delayed for a week do to circumstances out side of our control. Nothing bad, just timing, as well as market timing. We are working very hard on some cool projects! Stay tuned!
I'm fine with it. I thought the dev was sure he could make it but he said there is something outside of his control. ALSO: I’ve got the original Myriad-Groestl srcxxx github optimized files if anyone is interesting in forking them - basically changing the name (since they’re open source to begin with) and then posting it to github. Send me a PM if you’re interested. By the way, I’ve just passed the 12.5 million mark! |
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I think the new website is Top Notch! A fantastically wonderful improvement!
What I like about the new logo is the fact that the actual 'logo', in front, is bigger than before. I'm not sure about the font though (think I prefer the former). In-so-far as other fonts go, it's instructive that big multinationals like Microsoft and Apple have both chosen varieties of sans-serif. (Those are but two prominent examples; the 'big boys' invest millions in studying these kinds of things and what they decide on usually isn't something that is happen chance.)
As always, great work!
P.S. Will we get photos for Scott, Andrew and Tanner?
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Hi there Have you seen that you can buy DGB at litebit.eu with Visa .... woot! just ordered a million. already bought some millions with SEPA, lets see how this Visa transaction goes, suppose its faster than SEPA bank transfer Regards Wow! The price is 0.00001400 instead of 0.00000020. In addition, with max 1000 DGB per order did you fill 1000+ orders to get million? I doubt. |
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Brussels Recap: Recap: Bitcoin 2 Business Congress in Brussels
by Allen Scott @ 2014-10-23 05:22 PM
The very first Bitcoin 2 Business Congress kicked off on October 16 at a very nice looking location in Brussels: the B19 Business Club.
Registration started at 9:00 am and the Agenda was full the whole two days. Twitter and other social media were filled with news and current information from the presentations and speeches.
The atmosphere was casual from the beginning and people were very interested in meeting potential business partners and in the networking.
Day 1
The first day began with Stan Wolf and Benjamin Bommhardt who were discussing the Crossing of the Chasm of Cryptocurrencies. The day continued with one interesting session after another. Among the Bitcoiners well-known Niels Kerstholt from BitPay discussed the Merchant adoption of Bitcoin.
One of the most interesting sessions of the first day was also the Mining workshop. Some of the attendees never truly understood the Mining for which this session was very beneficial. Not only could they see the “old-school“ GPU miner, well known to people who started mining earlier, but they also learned about merged mining.
This was explained in depth because while mining you can also mine a Transactioncoin – TxC, which supports two hashing algorithms: SHA256 and SCRYPT.
“Txcoin can be merged mined with either sha256 or scrypt based altcoins, such as Bitcoin or Dogecoin” explained Matej Michalko from BitcoinMarketing and DexQ during the workshop.
Vitalik Buterin from Ethereum had a speech on Thursday as well as Sergij Foski representing the Bitcoin Foundation along with John Michell who presented a closer description of Decentralization and DAOZ.
- Vitalik Buterin
Day 2
The second day of the Congress taking place on Friday focused on a broad range of topics. It was opened by a great presentation of BitcoinMarketing’s Boris Stankovic.
One of the most tweeted was the presentation by Richard Caetano who advised Bitcoin businesses to “Target Early Adopters but Prepare for Mainstream.“
Another noteworthy presentation was given by Cointellect.
Next, Jeremy Gardner invited more Universities to join the College Cryptocurrency Network.
A great panel discussion was held on the subject of Altcoins with Adam Vaziri, Matej Michalko, Stanislav Wolf, Marc Warne, Matej Boda and Vitalik Buterin.
Right after the lunch break, Max Wang from btctrade.com delivered an interesting speech titled “Cross-border B2B Payments and Digital Assets Investment Based on the Large Trading Volume in China.”
The latter part of the afternoon was dedicated to a start-up show that included10 start-up projects. Every startup got the chance to present their project. The list of participating companies included:
Bokk
Online Bank Transfer
Cryptodomainer
BitNPlay
Coinoutlet
GEMS
JungleCoin
MasterXchange
DexQ
Internet of Coins
More information about the participating Start-ups can be found here.
Some controversy was stirred up by the last presentation from Nicolas Courtois of UCL. “Flipping the coin 100x would be better randomness than current random generator in some wallets,” said Courtois, in addition to other brow raising comments such as Bitcoin “has failed in being a decentralized P2P.” His speech led to many discussions at the subsequent social event in the city that included many Start-ups representatives, investors and attendees.
The event was a great success that galvanized the formation of new business partnerships and connections between Bitcoiners in Europe as well as the other parts of the world.
Also, special thanks should also go out to the guys from Belgian Bitcoin Association who helped with the organization.
For more information about the event, go to the official website. Source: http://cointelegraph.com/news/112790/recap-bitcoin-2-business-congress-in-brusselsThanks ycagel. For those of us with limited time, this kind of post with this type of information (much like the posts regarding the Cryptsy lawsuit I also might add) is very much appreciated! |
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The DGB devs obviously don't understand basic economics.
Who cares if there are 80 trillion dollars in circulation. Look at the crypto Eco system, massive oversupply and then they go and double the already massive inflation rate.
It's almost like the devs are purposely trying to kill the DGB price. Either that or their incompetence is great.
Currency value [PRICE] = Transaction Volume/Velocity + 1/Supply
Look at that - you cut the supply which leads to a higher value. Unless you think you can more easily control the other variables; which is infinitely more difficult and costly.
This Economics 101 lesson is free of charge.
Sold 80% of my DGB on the sheer lack of basic understanding here.
Vlad2Vlad, you are starting to really get on my nerves with your nonsense. I see you have posted the same idiocy elsewhere as well: https://bitcointalk.org/index.php?topic=236742.msg8495436#msg8495436 Look, it's obvious that you don't have a clue about what you're talking about and that you're trying to come off as an expert = fraud.That conclusion is supported by the fact that you refuse to address the following REAL LIFE examples: Casino coin is the example I use to show people that cutting block rewards does not increase a coins value.
- Why is DOGE valued around 30 times more then EAC when it has more than 7 times the eventual money supply of EAC?
or
- Why is BTC valued around 1 million times more than CGB when it has 21 times the eventual money supply of CGB?
Everyone, until Vlad2Vlad begins to seriously address the counter arguments and begins to seriously debate with rational arguments instead of spewing his pedantic BS, I suggest we stop replying to his posts. |
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 NEWS: AidBit's First Humanitarian Project:We're proud to announce that we've finished our first humanitarian project. You can find the details on the following page: http://www.aidbit.net/humanitarian-aidThank you, AidBit Very nice project. Very nice donation. Congrats! |
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It's great to see everyone's enthusiasm about the various different ways of promoting DigiByte. The ideas expressed about how to market to the gaming community are great. Hopefully we'll be able to get things moving forward not only in that area (and start bringing in new additions to the widely distributed network), but also on multiple fronts at the same time (like that of bringing in new investors as well in the form of direct purchased with fiat). The tipping operations and a concerted sustained effort to drive users to DigiByteTalk.com should also be one of our top priorities. Video development sounds exceptionally interesting. Additionally, the new Wiki will be a great way to establish industry standards (starting with which miners can be used with each algo and how to configure them, and then moving on to bigger and better HowTo's) that will eventually be the top Google search result on each subject addressed. That will be BIG!
I won't be around much for the next couple of months since I've got various projects on the burner at the same time and I won't be doing much else other than working, eating and sleeping (and the obligatory social engagements and personal responsibilities, of course).
Sorry that I won't be able to play a more participatory role during this very exciting time (when time allows, I will do an occasional 'drive-by' like my previous post above), and remember, there's no better way to fail than giving up on an idea before starting - no matter how difficult the objective may seem to be.
Go for it! You're playing an important part in the future of DigiByte, and will also be responsible for an important part of its success.
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Looks there is 2,063,725,976 DGB in circulation. That is close to 10% of the existing supply. Pretty interesting to see how things play out. Does this ultimately lead to scarcity in DGB?
YC
Scarcity? Is this a joke? The DGB devs doubled the already massive inflation rate. The word scarcity shouldn't enter the equation regarding DGB at any point in the present or future.
This coin seems to be doing all the right things - why does the price keep dropping?
Is it simply the massive inflation rate? If so, are the devs planning to slow that down to give the price a chance to rise?
Cheers!
Vlad, We have been having internal discussions about this. Simply put we doubled the production of coins at block 145k. DigiByte was on track to produce all of its coins over a 30 + years. Now it will happen in about 15 years. We are potentially thinking of a hard fork next spring that will cut new coin production in half. What is the communities take on this?
With developed nations’ total aggregate money supply being somewhere between 50 and 75 trillion USD equivalent, wouldn’t it be reasonable to expect a large enough demand in cryptocurrencies to support at least a 5 trillion of USD equivalent money supply in cryptocurrencies?
If we had a 5 trillion total USD equivalent of cryptocurrency money supply, and assigned a generous total of 50 cryptocurrency survivors to our equation, each of the 50 survivors would have a proportionate 100 billion USD equivalent money supply, an amount which in each individual case would hardly even begin to compete with the 50-75 trillion of total fiat supply and ITS inflation!
In the case of BTC, a 100 billion USD total capitalization would equate to a price of $4,761.90 USD.
MEC would be valued at $2,380.96, LTC at $1,190.48, HBN at $833.34, DGC at $500, QRK at $404.86, EAC at $7.41, DGB at $4.77, and DOGE at $1.00, for example.
While we could argue all day long about whether or not Hobonickels will be one of the eventual survivors, what I’m sure we can all agree on is that there will be someone who takes the place of Hobonickels if it doesn’t survive, and if not (let’s say there are only 30 eventual survivors, or 20, or 10), then the eventual total money supply would be even smaller that the original 5 trillion conservative figure.
The key question that I think one has to ask is if you think BTC could possibly trade in the $5,000 dollar range, and then, depending on how you view that, you could move on towards analyzing other coins like MEC (could that coin really survive much less trade at $2,380.96?), or EAC (currently trading between 2 and 3 satoshi – what’s the story there? already ruled out as a potential survivor?), or DGB.
If cryptocurrencies ever do claim their place in the sun, I think a modest 7.5 - 10% or so of developed economies’ real aggregate M2 money supply is a reasonable figure with which to begin eventual baseline valuations.
And don’t forget that the fiats will continue with rampant inflation and that figure of 7.5 - 10% or so will also adjust upwards accordingly as those fiats continue to devalue.
I have to bite my tongue in order not to laugh when I hear people using the inflation word with regards to cryptocurrencies, when in fact it doesn’t even begin to compare with the fiat equivalents, that we should really be comparing with.
And having done that, we’d be able to move on to the next step and ask:
- Why is DOGE valued around 30 times more then EAC when it has more than 7 times the eventual money supply of EAC?
or
- Why is BTC valued around 1 million times more than CGB when it has 21 times the eventual money supply of CGB?
The answer to those questions is what should lead to what I consider to be priority number 1 for DGB at this time. The technical aspects are a done deal, and what we need to do now is gain mass acceptance, starting with the widest possible distributed initial user base as possible. We have a finished product for all intents and purposes (of course, there will be updates, but the core product is not going to change), and it’s time to start marketing and selling it.http://money.howstuffworks.com/how-much-money-is-in-the-world.htmhttp://dollardaze.org/blog/?post_id=00762&cat_id=20http://en.wikipedia.org/wiki/Money_supplyhttp://data.worldbank.org/indicator/FM.LBL.MQMY.CN |
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