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I think it offers nothing new as it was originally a Scrypt coin with premine and centralized control of block reward scheme.
They've got no light wallets, no fully functional block explorer. Lots of hyped projects, they always miss the target and support never gets maintained. They say that DGB has the fastest network, but it's false. You still need to wait for at least 40 confirmations due to the orphans.
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And the subsidy of DigiByte mined in the first 48 hours was the same scheduled for the first 48 days, as it were (i.e. no pre-mine, no instamine, just the exact same reward as what everybody continued to get until the first reward reduction).
My friend, the blockchain tells a different tale. You're right. Sorry about that. It was so insignificant and transparent that I completely forgot about it (since it pales in comparison with what we normally think of when talking about a pre-mine or instamine). Historical DigiByte OP Info
Coin Facts 21 Billion Total Coins | 30 Second Blocks (2.5 Min per Algo) | 8,000 DGB Reward, Reduces 0.5% Every 10,080 blocks |0.5 % Pre-Mine ( 0%) | MultiAlgo, POW | 2.5 Min Re-target (Each algo, averages previous 10 blocks) Note: We are now a 0% pre-mine as the entire pre-mine has been given away or used for development.
Pre-Mine Details:- 52.5 million DGB for giveaways over first two months to encourage adoption of DGB.
- Giveaway address will be publicly posted on website with a public record of all transactions in the block chain.
- 52.5 million DGB for development expenses to further DigiByte and help it become a mainstream currency.
- Development account address will be publicly posted on website with a public record of all transactions in the block chain.
- Our goal is to be transparent and accountable with the 0.5% pre-mine to ensure a bright future for DigiByte.
Pre-Mine Accounts:- Giveaway Account: DFsSa6kVoCyHK8ryZYDNX2fi5294kSuH2Q
- Initial Balance: 52,500,000.00 DGB
- Current Balance: 0 DGB
- Development Account: DQkqGjRqyfsmzFQ27tPK2PNJe7gPZUVm1U
- Initial Balance: 52,596,000.00 DGB
- Current Balance: 0 DGB
**Note: After the first 6 days of DigiByte's life over 44,105,165.259 million DigiBytes were dispersed from the giveaway account to merchants, developers, users and more in over 1500 Transactions to DigiByte Addresses! Hmm, well I don't agree with the reward change after 48 days either, or other subsequent changes. But I suppose DigiByte needs a way to fund its projects such as DiguSign and segwit upgrade... Every project can choose its own methods. I think Myriad has done pretty well with community-funded development so far. Good luck. |
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And the subsidy of DigiByte mined in the first 48 hours was the same scheduled for the first 48 days, as it were (i.e. no pre-mine, no instamine, just the exact same reward as what everybody continued to get until the first reward reduction).
My friend, the blockchain tells a different tale. |
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I would definitely be an MYR buyer if the dev showed up and told what is being worked on.
"Dev" is 24/7 online, keeping up all his clones. Not sure if Myriad "dev" created more account names at bitcointalk or cloned coins..... Untrue FUD. |
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UIS is cool, but there's nothing insane about Myriad's emission model. It's actually very similar to Monero's but with halvings every 2 years instead of smoothing. There's a halving coming up in 2 weeks.
I think maybe he was referring more to the total number of coins. Some people just hate big numbers I guess. Big numbers, big ambitions. Myriad will win in 2017, bigly. UIS probably also. NeoScrypt sounds kinda boring though. |
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UIS is cool, but there's nothing insane about Myriad's emission model. It's actually very similar to Monero's but with halvings every 2 years instead of smoothing. There's a halving coming up in 2 weeks.
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whats new? Price is rising.  News coming? MYR broke a very large resistance around 60 but came XRP news and took all liqudity It is necessary to wait a little longer  no wall in buy order. is too risk to trade this coin High risk, high return = rational investment? |
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One of the most popular and profitable coin to mine right now is Monero.
Clearly, but how does it compare to Myriad? Or Gridcoin BOINC mining for that matter? Monero use a better algorithm for cpu mining and has usable value. Ok. Care to explain how Monero's algorithm is 'better' than yescrypt? |
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One of the most popular and profitable coin to mine right now is Monero.
Clearly, but how does it compare to Myriad? Or Gridcoin BOINC mining for that matter? |
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I'm guessing it's Myriadcoin (yescrypt algo), but I could be wrong. Any CPU miners who can compare it to other coins? Which coin gets you the most BTC?
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Yesterday I saw $456USD worth of volume on the MYR/EUR pair at LiteBit exchange. Pretty cool. Can anyone vouch for this?
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I am glad the Qubit ASIC topic has come up again. Ive been mining Qubit for ages and had to finally shut down my rig. Around July 1st the asics were released and my profitability just tanked.
I understand ASICS are a part of this world but I am still a simple miner with a single rig in my basement. I love mining and working on my rig but there is no incentive to do so when I am competing against ASICS.
why shut down rig? Why not re-task to another algorithm? If the mining isn't better for you elsewhere because your rig is so small, you can stay on Qubit like a true DigiByte knight. I have looked at the others, Sha-256 / Scrypt / Qubit are out the window because of ASICS, Skein is incredibly power hungry and hard on my GPUs ( tons more heat, fans run alot harder ) and Groestl is possibly an option but it doesnt run as cool as qubit, uses more electricity, i cant undervolt as much for power efficiency, plus the difficulty is high enough that I cant cover my electricity bills. Id mine if i can at least cover the electricity bill but i shutdown the rig because if I mine i want to support Digibyte and right now it isnt worth it to use a very power hungry algo and its summer so I have a hard enough time cooling it as is. Yep... Myr-Groestl is FPGA'd. Skein I don't know exactly, but these algos are designed to be friendly to specialised hardware. They're only profitable for some GPU miners because they're unpopular. All the GPUs are mining ETH/ETC now. I guess it would be smart to swap them both for a more modern GPU algo... |
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Nice to have you as part of the community myriadcoin, you are bringing up lots of good discussion points, so much easier to have a discussion when people aren't attacking each other Yes. I suggest DigiByte update to Myriad codebase, then spend their 250,000,000 dollar investment fund on further multi-algo developments. DigiByte could submit their improvements upstream to Myriad and both coins could be seen as working together. Myriad could be the most secure global payments network, and DigiByte could be for gaming tips. The Multi-PoW master race. |
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Guys, let's rally together as DigiByte Knights and mine MYRIAD CLASSIC to send out a message that Immutability of blockchain is paramount. Get your Qubit ASIC today at baikalminer.com !! Just joking. But anyway, I accept that Bitcoin and litecoin are secured by large amounts of mainly centralised hashing but I don’t know if I would say they were truly secure because of it. They are prohibitively expensive for someone new to make an attack on and the ultimate fear is that a government or powerful organisation may choose to deliberately disrupt the blockchain but you know what, I don’t see them winning by being disruptive, they ultimately win by mining more coin and fees. I don’t know how truly decentralized etherium really is and I suspect we already have a rouge super computer or two in the mix. As far as I know, Doge is mainly merge mined with litecoin. I have said before, I don’t think this is a great strategy for mining as your support can be quickly removed, like it was for IXC. That’s a friendly warning from my perspective. Doge also has practically an unlimited supply; I just can’t take it seriously at all as an investment that is. It may hold its current value for eternity!
Just a couple of points I disagree on: "I don’t see them winning by being disruptive, they ultimately win by mining more coin and fees." Yes... People don't see the need to attack coins with weak security. Better to just not invest in them, and not bother to mine them... "Doge is mainly merge mined with litecoin. I have said before, I don’t think this is a great strategy for mining as your support can be quickly removed, like it was for IXC. " True, but at the same time, Bitcoin and Litecoin(+auxcoins) dominate the hash rate for their respective PoWs to such a degree that if you don't enable merged mining, your hash rate will likely be so low that a profit switching pool could easily jump on at any time and inflict the same damage. And in fact they will do that attack, not out of malice, but because it's profitable. Meanwhile with merged mining, yes, an attack would be 'free', but they would actually profit from mining it honestly (consistently), so why would they attack? Besides, when you add multi-PoWs, the situation becomes different from ixcoin. If Scrypt gets attacked, the blocks keep coming from the other PoWs. The chain doesn't get stuck while we're waiting for the difficulty to come back down. |
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I’m so sceptical at heart. The qubit mining could be on the new fork just to encourage it and acquire coin on it before the switch. When the switch happens it changes to old fork so that it continues to mine. The whole mining consensus could suddenly switch over night but I hope you are right and everything runs smoothly as planned. I’ll be watching with interest.
Interesting point.... But if they do that, the situation will basically be like this: 1. A higher work chain with CPU mining enabled and support of current devs 2. A lower work chain with Qubit ASIC mining and support of Qubit ASIC miners I dunno... somehow I just don't think that option #2 will be very marketable. But they're welcome to try. It's no different to me than if someone were to launch another multi-PoW altcoin. EDIT: On second thought, perhaps DigiByte official pool could start mining Myriad Classic and switch Myr-Qubit over to merged mining.... It's more rewards for DigiByte miners, right?  |
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I don’t know but what happens to Myriad if more people continue to mine qubit than yes-scrypt. Could we end up with Myriad and a Myriad Classic?
Lol.... Yes it could happen, but it won't. A great majority of the hash power apparently supports the fork and has done so for a while now: https://cryptap.us/myr/myrstat/I've heard that Myriad is the first coin to actually make use of this consensus system requiring the last 750/1000 blocks. It would be available to DGB too if they upgrade to a more recent Bitcoin code base. If Qubit miners decide to keep on the old chain, sure they can.... but I can't see them getting much support from the community. In fact, right now 100% of Qubit blocks are hard-fork blocks.... so Qubit ASIC miners are firing themselves... or more likely they simply downloaded the latest wallet without reading what it does because they are just trying to mine and dump as many MYR/XMY as quickly as they can. |
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The advantage of this new asic has practically been spent already before it publically went to market, I imagine. Any professional miner now using one, I say professional miner because asics are dedicated mining products, is currently looking at least half the year of mining before ROI is achieved. Anyone who has ever bought asics, knows that this time is going to increase with hashrate and that it will probably take much longer than the estimate which is based on an instantaneous calculation of what is currently happening. So it is unlikely that it is going to be an easy ride and the miners will have earnt the DigiByte they mine. By mining they will increase the network hash rate of the algorithm and therefore will increase the amount of hardware necessary to perform an attack on it, so improving security. What I am saying is that I do not believe this will be a disaster for DigiByte but that said, I wouldn’t like the asic ratio to increase any further than this at this time. As DigiByte and Myriad grow, there will always exist a point where it becomes viable to develop and produce asics for the non asic algorithms. The network increases when this happens and is ultimately strengthened after the first mover advantage is negated. The same amount of coins will be mined whatever happens so I still fail to see your instamine argument. OC we can and probably will change algorithms that become asic when we become aware of them but I don’t see that DigiByte is currently threatened. As I said in my opening statement, I think the damage has been done.
Yes, the worst of the damage has been done, but it's probably going to continue for a long time yet. No, it's not a fatal problem for DigiByte, but it is going to have a negative impact on the value and security of the coin. Whether or not ASICs can be avoided is still actually an open question. Of course specialised hardware can always beat consumer hardware, but that doesn't necessarily mean that if a coin gets popular enough it will always be profitable and worth the risk to manufacture ASICs. There are constantly new PoW designs coming out that attempt to be as consumer hardware-friendly as possible. What do you do if say ‘google’ decide to mine MYR yes-scrypt? Your community has to get up and running very quickly to keep it distributed but there are plenty of organisations out there with enough computing power to take advantage of anything non ASIC, if they choose. Just saying... So you're arguing for security by obscurity? Few people have Qubit ASICs, so DigiByte would be better secured by Qubit PoW...? Strictly speaking it wouldn't even really be obscurity. Google could of course afford to make enough Qubit ASICs to completely dominate the hash rate too, if they cared to.... But they wouldn't, because that's not their game, just as Google's game is not mining CPU coins either. I take your point that it's possible, but that's how it is with altcoins. Only Bitcoin, Ethereum, and Litecoin, possibly Dogecoin, are truly secure. Although, with their level of pool centralisation, even they are only secure so long as you trust the pool owners. I would say that Myriad, Digibyte, and Unitus are the most secure coins out there right now, relative to the value of their block rewards.... But their value is so small, that they certainly can't be secure against a theoretical rogue Google. |
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The advantage of this new asic has practically been spent already before it publically went to market, I imagine. Any professional miner now using one, I say professional miner because asics are dedicated mining products, is currently looking at least half the year of mining before ROI is achieved. Anyone who has ever bought asics, knows that this time is going to increase with hashrate and that it will probably take much longer than the estimate which is based on an instantaneous calculation of what is currently happening. So it is unlikely that it is going to be an easy ride and the miners will have earnt the DigiByte they mine. By mining they will increase the network hash rate of the algorithm and therefore will increase the amount of hardware necessary to perform an attack on it, so improving security. What I am saying is that I do not believe this will be a disaster for DigiByte but that said, I wouldn’t like the asic ratio to increase any further than this at this time. As DigiByte and Myriad grow, there will always exist a point where it becomes viable to develop and produce asics for the non asic algorithms. The network increases when this happens and is ultimately strengthened after the first mover advantage is negated. The same amount of coins will be mined whatever happens so I still fail to see your instamine argument. OC we can and probably will change algorithms that become asic when we become aware of them but I don’t see that DigiByte is currently threatened. As I said in my opening statement, I think the damage has been done.
Yes, the worst of the damage has been done, but it's probably going to continue for a long time yet. No, it's not a fatal problem for DigiByte, but it is going to have a negative impact on the value and security of the coin. Whether or not ASICs can be avoided is still actually an open question. Of course specialised hardware can always beat consumer hardware, but that doesn't necessarily mean that if a coin gets popular enough it will always be profitable and worth the risk to manufacture ASICs. There are constantly new PoW designs coming out that attempt to be as consumer hardware-friendly as possible. |
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When will the latest Myriad update be done for DigiByte? Swapping of algos and code base update.
who said we were doing that? Do you really want to support Qubit ASICs? Qubit is an unpopular cousin of X11. The X11 ASIC market is already dominated by a couple of big players who are 'testing' their equipment till the difficulty shoots up and jacking up the prices of their hardware. I'm not criticising them for it. It's the name of the game. But realise how bad this is for DigiByte. Any X11 ASIC maker could easily support Qubit with practically no additional cost to them. The result is that the security of anything Qubit mined is now basically a subset of the security of X11 coins. That is, it's weak and highly centralised. Yes, DGB is multi-algo, so the effect of this is mitigated. But with DGB's high inflation, do you really want 20% of all block rewards being instadumped at ANY price? That is what's going to happen. I'm not trying to be antagonistic here. I've changed my stance on these matters lately. The more multi-algo coins, the merrier. Thank you for bringing this to the communities attention. This is the first we have heard of these ASICS. Do you have any reading material on this? We are looking into our own unique algorithm that with be GPU, CPU friendly. |
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When will the latest Myriad update be done for DigiByte? Swapping of algos and code base update.
who said we were doing that? Do you really want to support Qubit ASICs? Qubit is an unpopular cousin of X11. The X11 ASIC market is already dominated by a couple of big players who are 'testing' their equipment till the difficulty shoots up and jacking up the prices of their hardware. I'm not criticising them for it. It's the name of the game. But realise how bad this is for DigiByte. Any X11 ASIC maker could easily support Qubit with practically no additional cost to them. The result is that the security of anything Qubit mined is now basically a subset of the security of X11 coins. That is, it's weak and highly centralised. Yes, DGB is multi-algo, so the effect of this is mitigated. But with DGB's high inflation, do you really want 20% of all block rewards being instadumped at ANY price? That is what's going to happen. I'm not trying to be antagonistic here. I've changed my stance on these matters lately. The more multi-algo coins, the merrier. |
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