Happy Thanksgiving to everyone & thank you to everyone who has updated so far! We will be updating the list of pools and exchanges who have updated later today on the OP and website. After the turkey of course  |
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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) |
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64 should work for 32s if it is not specifically designed for 64. Have you tried already?
It doesn't. You're thinking of the other way around ;-) We will get it out in a couple hours |
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Sync and/or upgrade: Check Send & receive:From exchange to new wallet adress, Check Send from new wallet to Android wallet, Check. From android wallet to New wallet: Check. (Wow this is amazing fast! Just 5 seconds to see the receive message. 1 minute to have them in my wallet. From New wallet to exchange: Check Address generation etc: Check Works perfectly fine as always! Great job Digibyte team. Windows 7 x64 Android wallet:samsung S5 Android 4.4.2 Awesome! Thank you very much for the feedback 24hr! |
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Hey Jared, im on with Groestl, difficulty 0.01, 85 Mh/s++. Will run it about 1h and switching after to Qubit. Hope this will help.
Awesome! Thanks for the help! @24hr Thank you as well! |
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Help us test out the v3.0.3 update! 1) Point your miner here on any algo: http://66.228.53.4/getting_started2) Use one of the following addresses as the user: Skein DEsFvMDkS3Q5wjkxmT9bhNypLy1nAAexnR Scrypt DPR7pkmoLNPH3isR1eUsLhmpFARbAXyKov Sha256 DBfBxJa2AZdPT4hdnMcpn4ZUrEGy29bgWQ Groestl DNHnXgXx7yrjMjh6KN5LnRDHzasu4zf8p7 Qubit DQPpn4a9uqpx4tdS66h5LewpVYREX2gDMH 3) Turn your miner on for 10 min or a couple hours. Feel free to change between algos as well. This is a test network so no real DigiBytes will be mined. We want to see how the new difficulty code will react as miners come on and off the network. Thanks for your help! We are very close to rolling out the v3.0.3 update! Maybe a stupid question but will some rented hash work? Yes, absolutely it will work. However, everything appears to be working as expected so don't waste too much money on rented hash for testnet. Cheers! |
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Help us test out the v3.0.3 update! 1) Point your miner here on any algo: http://66.228.53.4/getting_started2) Use one of the following addresses as the user: Skein DEsFvMDkS3Q5wjkxmT9bhNypLy1nAAexnR Scrypt DPR7pkmoLNPH3isR1eUsLhmpFARbAXyKov Sha256 DBfBxJa2AZdPT4hdnMcpn4ZUrEGy29bgWQ Groestl DNHnXgXx7yrjMjh6KN5LnRDHzasu4zf8p7 Qubit DQPpn4a9uqpx4tdS66h5LewpVYREX2gDMH 3) Turn your miner on for 10 min or a couple hours. Feel free to change between algos as well. This is a test network so no real DigiBytes will be mined. We want to see how the new difficulty code will react as miners come on and off the network. Thanks for your help! We are very close to rolling out the v3.0.3 update! |
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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! I don't agree to this analysis. The numbers might be true (I didn't valid them). However, if we are for the longterm we must assume there will be a much better adoption of DGB with a lot more users as we have currently. If we don't assume this there's no sense in investing more time and money in this project  So we assume more adoption in 2 years. That also means that the daily coin production will be much smaller relative to the daily trading volume. Therefore, the new production rules will help now but don't hurt later. The numbers are real. Current: 0.5% drop in block reward every 3.5 days = 1 - (.995 ^ 104) = 40.6% overall drop in block reward per year. Proposed change: 1% drop in block reward per month = 1 - (.99 ^ 12) = 11.4% overall drop in block reward per year. I have done some simple maths with some empirical analysis from my results : - In approximately 728 days from now (approximately 2 years as said previously), block rewards with the actual block generation rules will hit the 2435 DGB per block. - Past this 728 days, it's kinda easy to understand that the actual block generation rules will produce less coins than the after hard fork rules (because the actual one reduce the total amount of generated coins by 1% per week vs 0.25% per week for the new rules.) --- BUT --- - With the actual block generation rules, we will produce 9.05 bilions coins in the next 2 years VS 4.79 bilions coins with the after hard fork rules. This means that in only 2 years, we'll produce 4.26 bilions more coins if we don't change these block generation rules. In other words, after 2400 days (6.5 years!), both rules would have produced the same amount of coins. 6.5 years! This is not what I name a short term story... but this looks more a middle/long terms for me. So, what I have to say after all this... is that we have to think of what market really needs actually too to give interests for DGB. We are seeing it actually, there is (imo) too much coins in circulation and too much coins produced a day for a beginning (because DGB is young, 1 year is nothing). The demand is, for the moment, too low to manage all this generated coins and that's why average DGB price is little by little dropping for months. And fortunately, DGB is always alive because a lot of people believe in the Digibyte project and are holding a lot (and buying a lot at some interesting prices). Without this, without a solid project like Digibyte seems to be, we'll maybe not be here today, always alive. That's why I think, even if the hard fork rules isn't perfect (we have to adjust it), it will be worth it théorically for 6.5 years VS the actual block generation rules (only in terms of generated coins, but it's important). This will not kill the market, but will help it for some years (theorically only, there's a lot of other factors). At the contrary, to not change the actual rules is very risky, because we are near a critical point. I'm pretty sure nobody here will see DGB near 5-6 satoshi, because a lot will panic and maybe, I don't know, kill the market. The after fork rules will be no more worth it after 6.5 years only... so, my question is : is it enough? Probably Digibyte team/community/investor want an intermediary solution between the actual rules and the after hard fork rules. And i'm sure this is the best solution. Without doing any additional maths, something like : *Change production from 6,746 DigiBytes per block at time of fork to 3000 DigiBytes per block *Change reduction from 1% per week to 0.5% per week. This only an estimation, and probably theres is a much more proper solution... but I let experts doing it, i'm not one of them And maybe will I be the only one to think like this. Let me hear your what do you think about all this. 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. |
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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? HR, Thanks for the feedback. You bring up a very valid discussion that we should all discuss more. Our initial feeling is we have advertised the cap will be 21 billion, but 21 years from now life will be much different for all of us, so chances are between things might change between now and then in a variety of ways. But having a hard number 21 billion in 21 years (2035) is a solid foundation to build upon. |
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LOL 10 sats per DGB.....looks like another karm or Panda set up for me..time to cut & run from yet another hopeless worthless coin in the Alts world...when will we all learn to not listen to hype & bullshit.
Only advice i would give at this time would be to say if you do have some good news in the pipeline i would release it ASAP or your going to end up with no holders of DGB at all..........once you have a rep for being a worthless investment its near impossible to reverse it
Welcome back Pringles, we missed you |
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Proposed DigiByte v3.0.3 Update & Hard Fork @ Block 400,000 *Update difficulty code to prevent future myriad style time warp attack *Update checkpoints & seed nodes *Update & fix bug which triggers safe mode for exchanges & pools *Include updated DigiByte image in wallet *Change production from 6,746 DigiBytes per block at time of fork to 2,435 DigiBytes per block *Change reduction from 1% per week to 1% per month. (12% annual reduction compounded monthly) Dear Crypto Community, DigiByte was launched on January 10th, 2014 with 60 second block times and the promise DigiByte would reach a maximum coin production of 21 billion coins about 30 years from now. There was also an understanding that roughly 4 billion coins would be produced in the first year of DigiByte's life. As many of you are aware, following the second DigiShield update, DigiByte production came to a halt with slow block times. To return to the proper rate of production, we hard forked to MultiAlgo mining. We successfully achieved the benefit of five mining algorithms for much faster transactions with the switch from 60 second blocks to 30 second blocks. These faster transactions will be a huge boost in the future for merchants & DigiByte users. However, this increased coin production leaves us with a short term inflationary problem in a deflationary code environment. With the block speed reduction (60 seconds to 30 seconds), DigiByte production doubled. This means twice as many coins are currently entering the DigiByte ecosystem as originally planned. While this originally worked to catch us up to the projected 4 billion coins in the first year, we feel with an upcoming hard fork that now is the best time to make a change. If production remains the same, we face a massive inflationary problem over the next year and we will reach maximum DigiByte production in 15 years. We have always been opposed to intentionally increasing the rate of production, but in this case everyone wins when we reduce the current reward to fit in with our original vision and timeline. Everyone's DigiBytes will become more valuable, and our current inflation problem will be curbed by roughly two-thirds. This will help to alleviate some sell pressure on the price. We are proposing three major changes in this hard fork @ block 400,000: A)Change production from 6746 DigiBytes per block at time of fork to 2435 DigiBytes per block (see spreadsheet) B) Change reduction from 1% per week to 1% per month. (12% annual reduction compounded monthly) C)Update DigiByte difficulty code to prevent future time warp attacks (see MyriadCoin attack) Projection Spreadsheet: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsxThis makes DigiByte attractive to an investor for the following reasons: *21 Billion DigiBytes in 21 years (Max supply & fixed predetermined rate of production: see spreadsheet) *1 to 1000 ratio with Bitcoin (21 million BTC to 21 billion DGB) *BTC once hit $1300, DGB could hit $1.30, perfect price for micro transactions *DigiBytes become 1% more scarce every month, 12% annually, compounded monthly *Bitcoin reward reduces 50% every 4 years, DigiByte has a monthly compound reduction of 48% every 4 years *DigiByte at $1 = $21 Billion dollar market cap in 2035, Western Union is $12 Billion right now *BOA Said Bitcoin had max $14 billion market cap potential right now *DigiByte at $10 = $210 billion market cap, possible by 2035 when mining ends *We can always move the decimal point one place and have $2.1 Trillion DigiBits if needed *Much more sustained mining incentive than previous model, 1% weekly reduction was too sharp of a decrease, this is more gradual (Miners = network security) Projection Spreadsheet: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsx
DigiByte Block Timing: (Each of 5 algos discovers new block every 2.5 minutes) 1 new block every 30 seconds 2 blocks per 60 seconds 120 blocks per hour 2,280 blocks per day 20,160 blocks per week 80,649 blocks per month Last DigiByte to be minted: January 10th, 2035 (21 years) Last Paying Reward Block: 19,764,941
Please post your thoughts and check out the spreadsheet here for a detailed overview of DigiByte production: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsxDigiByte Thread: https://bitcointalk.org/index.php?topic=408268.0DigiByte Website: http://www.digibyte.co/
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Proposed DigiByte v3.0.3 Update & Hard Fork @ Block 400,000 *Update difficulty code to prevent future myriad style time warp attack *Update checkpoints & seed nodes *Update & fix bug which triggers safe mode for exchanges & pools *Include updated DigiByte image in wallet *Change production from 6,746 DigiBytes per block at time of fork to 2,435 DigiBytes per block *Change reduction from 1% per week to 1% per month. (12% annual reduction compounded monthly) Dear DigiByte Community, DigiByte was launched on January 10th, 2014 with 60 second block times and the promise DigiByte would reach a maximum coin production of 21 billion coins about 30 years from now. There was also an understanding that roughly 4 billion coins would be produced in the first year of DigiByte's life. As many of you are aware, following the second DigiShield update, DigiByte production came to a halt with slow block times. To return to the proper rate of production, we hard forked to MultiAlgo mining. We successfully achieved the benefit of five mining algorithms for much faster transactions with the switch from 60 second blocks to 30 second blocks. These faster transactions will be a huge boost in the future for merchants & DigiByte users. However, this increased coin production leaves us with a short term inflationary problem in a deflationary code environment. With the block speed reduction (60 seconds to 30 seconds), DigiByte production doubled. This means twice as many coins are currently entering the DigiByte ecosystem as originally planned. While this originally worked to catch us up to the projected 4 billion coins in the first year, we feel with an upcoming hard fork that now is the best time to make a change. If production remains the same, we face a massive inflationary problem over the next year and we will reach maximum DigiByte production in 15 years. We have always been opposed to intentionally increasing the rate of production, but in this case everyone wins when we reduce the current reward to fit in with our original vision and timeline. Everyone's DigiBytes will become more valuable, and our current inflation problem will be curbed by roughly two-thirds. This will help to alleviate some sell pressure on the price. We are proposing three major changes in this hard fork @ block 400,000: A)Change production from 6746 DigiBytes per block at time of fork to 2435 DigiBytes per block (see spreadsheet) B) Change reduction from 1% per week to 1% per month. (12% annual reduction compounded monthly) C)Update DigiByte difficulty code to prevent future time warp attacks (see MyriadCoin attack) Projection Spreadsheet: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsxThis makes DigiByte attractive to an investor for the following reasons: *21 Billion DigiBytes in 21 years (Max supply & fixed predetermined rate of production: see spreadsheet) *1 to 1000 ratio with Bitcoin (21 million BTC to 21 billion DGB) *BTC once hit $1300, DGB could hit $1.30, perfect price for micro transactions *DigiBytes become 1% more scarce every month, 12% annually, compounded monthly *Bitcoin reward reduces 50% every 4 years, DigiByte has a monthly compound reduction of 48% every 4 years *DigiByte at $1 = $21 Billion dollar market cap in 2035, Western Union is $12 Billion right now *BOA Said Bitcoin had max $14 billion market cap potential right now *DigiByte at $10 = $210 billion market cap, possible by 2035 when mining ends *We can always move the decimal point one place and have $2.1 Trillion DigiBits if needed *Much more sustained mining incentive than previous model, 1% weekly reduction was too sharp of a decrease, this is more gradual (Miners = network security) Projection Spreadsheet: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsx
DigiByte Block Timing: (Each of 5 algos discovers new block every 2.5 minutes) 1 new block every 30 seconds 2 blocks per 60 seconds 120 blocks per hour 2,280 blocks per day 20,160 blocks per week 80,649 blocks per month Last DigiByte to be minted: January 10th, 2035 (21 years) Last Paying Reward Block: 19,764,941 Please post your thoughts and check out the spreadsheet here for a detailed overview of DigiByte production: http://www.digibyte.co/sites/digibyte.co/files/DigiByte_Production_Projection_v3.0.3.xlsx
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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. There are a lot of new coins coming in to circulation right now. Now is the absolute best time to mine DigiByte. We also now have http://digihash.co/tbs discovering groestlmyriad blocks. All 5 algos on the pool have been confirmed to work correctly on testnet. |
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Does anyone know of a working skein or qubit NOMP pool for any coin?
Scratch that, we now have all 5 DigiByte algos mining, submitting blocks & paying out on DigiHash test pool. Now we are transitioning our changes to the live DigiHash pool. |
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Does anyone know of working NOMP skein or qubit pool for any coin? We have yet to find one that is up an running at the moment for any coin.
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Does anyone know of a working skein or qubit NOMP pool for any coin?
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Hi dev :
when can we download ios wallet ..
The iOS wallet is still being developed. But work has started |
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I have a Macbook Pro and still I've opened the contents of the Digibyte wallet and there isn't a .Dat file anywhere.
Where should it be!!!!?
Its under your user folder/Library/Application Support/DigiByte/. Make sure your "library" folder is visible in your finder preferences. |
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? Thanks.
