★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit

[peligro]

Looks like nothing is happening for DigiByte lately? Except for the multi-algo switch of course, which is a pretty big thing.
But besides that?

All the coins are doing some kind of ASIC resistance algos. Thats not something big.

Merge mining like Doge can come in useful if implemented.

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[djnocide]

Looks like nothing is happening for DigiByte lately? Except for the multi-algo switch of course, which is a pretty big thing.
But besides that?

All the coins are doing some kind of ASIC resistance algos. Thats not something big.

Merge mining like Doge can come in useful if implemented.

Merge mining the scrypt algo with doge could be very interesting since both community are really open to help each other.

[HR]

Sometimes I wonder if I'm a complete idiot (of course, I always doubt myself first as the first course of action).

Am I missing something here?

Why would anyone even mention, much less consider, merge mining when DigiByte has the consistently strong and stable network hashrate and profitability that it has got?

                                                     

[suchPotato]

Sometimes I wonder if I'm a complete idiot (of course, I always doubt myself first as the first course of action).

Am I missing something here?

Why would anyone even mention, much less consider, merge mining when DigiByte has the consistently strong and stable network hashrate and profitability that it has got?

                                                     

Merge-mining means that more miners get dgb (they may just dump dgb, but since the amount won't be that big they may as well hold and see how it works for them), that dgb network gets more stable (right now it does not have the hashrate of doge, of corse), and, unlike what happened with doge aux-pow, the merge with doge would not cause mining DGB to become unprofitable since you can switch to other algos.

If the aux-pow with ltc meant a huge boost in confidence for dogecoin, imagine if DGB merged with doge and (say) btc, it'd be the safest POW network in existence, which never hurts if you want to appeal to large buisness.

I have no idea how easy/difficult it'd be to implement, but I believe it would be great news. In any case multipools have been dumping dgb for quite a while so I don't think things would get worse.

[ghostycc]

In any case multipools have been dumping dgb for quite a while so I don't think things would get worse.

This yeah.

[HR]

Sometimes I wonder if I'm a complete idiot (of course, I always doubt myself first as the first course of action).

Am I missing something here?

Why would anyone even mention, much less consider, merge mining when DigiByte has the consistently strong and stable network hashrate and profitability that it has got?

                                                     

Merge-mining means that more miners get dgb (they may just dump dgb, but since the amount won't be that big they may as well hold and see how it works for them), that dgb network gets more stable (right now it does not have the hashrate of doge, of corse), and, unlike what happened with doge aux-pow, the merge with doge would not cause mining DGB to become unprofitable since you can switch to other algos.

If the aux-pow with ltc meant a huge boost in confidence for dogecoin, imagine if DGB merged with doge and (say) btc, it'd be the safest POW network in existence, which never hurts if you want to appeal to large buisness.

I have no idea how easy/difficult it'd be to implement, but I believe it would be great news. In any case multipools have been dumping dgb for quite a while so I don't think things would get worse.

What would DGB get out of merge mining?

Put another way, what's in it for DGB?

Put another way, why on earth would you want to send an erroneous message to the world that DGB needs somebody else's help?

DGB can only lose with merge mining, in all respects; it has nothing to gain and there is no logical reason at all to even consider it (IMVHO).

[suchPotato]

What would DGB get out of merge mining?

Put another way, what's in it for DGB?

Put another way, why on earth would you want to send an erroneous message to the world that DGB needs somebody else's help?

DGB can only lose with merge mining, in all respects; it has nothing to gain and there is no logical reason at all to even consider it (IMVHO).

It would probably be seen as a sign of weakness, that's true, but only until it's implemented. You culd rightfully say that talking about merge-mining per se is bad.

But if DGB became indeed, not just a multialgo coin, but the coin that has top hashrate on all algos, it'd be a totally different matter. It'd be very triky to mount a 51% attak on a multialgo coin, but it'd certainly be unfeasable on a multialgo coin merged with the biggest coins of each algo.

Seeing this in the long term: regardless of the fortunes of DGB, the other coins won't disappear, and we'll probably never see a DGB hashrate so high that it outshines all the others. Now, pretty much all decent mining hardware in the world is active, noone likes to waste money, but if most hashrate is not in our network an attak will always be possible. If all the biggest coins join up and DGB stays out it's us who are gonna suffer, not them. Merging now means not merging later, it means future-proofing the network.

As cryptos become more important, there'll be more and more people ready to spend milons, if not bilions, to break this or that coin, and merging means preventing that. So, given that all points agains merge mining hold, there's a very strong pro argument too. IMO

[HR]

Does Multi-Algo Myriadcoin Mining Provide Unique Benefits?

The 5 algorithm method makes a 51% attack vs Myriadcoin very difficult.  In traditional mining, such as Bitcoin Mining, a 51% attack is, in theory, simple.  If an individual, or group, were to gain 51% of the hashing power, then the miner(s) could initiate a 51% attack.  In the 51% attack, the attacking miner(s) could block transactions, by preventing certain transactions from gaining confirmations, and more nefariously, could double spend coins by reversing the transactions during the blocks they control.

Most recent 51% attacks were accomplished by attacking small SHA256-based coins with a large number of ASICs, as Bitcoin’s mining hashrate, and difficulty, is so high that it is not an easy target. This may be an issue for more Scrypt coins in the future, as Scrypt ASICs are now available.  This is significantly harder with Myriadcoin.

As each algorithm controls only 20% of the network, a 51% attacker would need to control an average of 51% of each algorithm to successfully attack the network.  For example, if someone brought in enough ASICs to capture 80% of both SHA256 and Scrypt, which would be very difficult on it’s own, that would still only amount to 32% of the overall network.  The remaining 19% would need to be carved out of the Qubit, Skein, and Groestl algorithms, and there are no ASICs in development for any one of those.

The logistics, and cost, of obtaining, organizing, and maintaining such a varied group of mining machines in order to perform an attack such as this makes it very unlikely.  I highly doubt there is any group with the capability to effectively pull this off.  Beyond that, the cost would make it prohibitively expensive, with no chance of using such an attack to profit in any way.

. . . we'll probably never see a DGB hashrate so high that it outshines all the others.

I'm much more positive on DigiByte, and I actually look forward to the day when that happens. It's not a question of if, but when. 

[Ivanech]

Merge mining is not good or bad itself - it is only a method to secure coin network. But Digibyte already have a multi-algo implementation targeting this goal.

Merge mining in DGB will result some disadvantages: more miners will migrate to limiting numbers of primary coins like BTC, LTC etc. putting DGB in one heap of secondary forks.

The better way is support Digibyte itself. In the case you are interested in merge mining you should mine DGB as primary coin and merge mine other coins according to selected algo (for example, NMC on SHA256, DOGE on Scrypt etc.).

[24hralttrade]

A coin is strong when it can stand on his own and help others.
This will bring respect and believers.

[King117]

Hi Digibyte community!

I have been interested in Digibyte for a number of weeks now and see you have a dedicated team behind the scenes and a great little positive community that I just had to jump on-board!

I was wondering Digibyte, your future targets up until New Year, the price you believe is possible by New Year and the future objectives at the start of 2015!

I look forward to hearing from you!

To Mars Digibyte! No time for the moon!

[suchPotato]

I failed to find or get fixed any digitipbot for Saturday, so my plan changed a bit: let's do the giveaway and tip only those who provide a digibyte address, so we kill 2 birds with one stone, by pushing them to actually install the digibyte client.

For the people who were on for the giveaway: are you still in at these conditions?

[sucksyd]

Hi Digibyte community!

I have been interested in Digibyte for a number of weeks now and see you have a dedicated team behind the scenes and a great little positive community that I just had to jump on-board!

I was wondering Digibyte, your future targets up until New Year, the price you believe is possible by New Year and the future objectives at the start of 2015!

I look forward to hearing from you!

To Mars Digibyte! No time for the moon!

i am thrilled ,for now ,are you interested in this coin?can not you see the downfall of the coin?unless the dev team and community baffle more chinese to speculate ,there awaits another iceberg collapse.

[suchPotato]

Common internet wisdom says not to feed trolls.but ,this ,is ,too ,tempting.

i am thrilled ,for now ,are you interested in this coin?can not you see the downfall of the coin?unless the dev team and community baffle more chinese to speculate ,there awaits another iceberg collapse.

[24hralttrade]

Common internet wisdom says not to feed trolls.but ,this ,is ,too ,tempting.

i am thrilled ,for now ,are you interested in this coin?can not you see the downfall of the coin?unless the dev team and community baffle more chinese to speculate ,there awaits another iceberg collapse.

/ignore

[24hralttrade]

I failed to find or get fixed any digitipbot for Saturday, so my plan changed a bit: let's do the giveaway and tip only those who provide a digibyte address, so we kill 2 birds with one stone, by pushing them to actually install the digibyte client.

For the people who were on for the giveaway: are you still in at these conditions?

Yes i'm in.
But is everything good with sending & retrieving DGB?
I can remember some people complained about it.

[suchPotato]

I failed to find or get fixed any digitipbot for Saturday, so my plan changed a bit: let's do the giveaway and tip only those who provide a digibyte address, so we kill 2 birds with one stone, by pushing them to actually install the digibyte client.

For the people who were on for the giveaway: are you still in at these conditions?

Yes i'm in.
But is everything good with sending & retrieving DGB?
I can remember some people complained about it.

Hmm not sure, it seemed something reltive only to a couple of users, gonna check out anyway

[ycagel]

Personally, I don't think merge mining is needed. You are risking cannibalizing your brand and some of the other coins don't have the professional approach DGB does. Doesn't make sense to me.

YC

Does Multi-Algo Myriadcoin Mining Provide Unique Benefits?

The 5 algorithm method makes a 51% attack vs Myriadcoin very difficult.  In traditional mining, such as Bitcoin Mining, a 51% attack is, in theory, simple.  If an individual, or group, were to gain 51% of the hashing power, then the miner(s) could initiate a 51% attack.  In the 51% attack, the attacking miner(s) could block transactions, by preventing certain transactions from gaining confirmations, and more nefariously, could double spend coins by reversing the transactions during the blocks they control.

Most recent 51% attacks were accomplished by attacking small SHA256-based coins with a large number of ASICs, as Bitcoin’s mining hashrate, and difficulty, is so high that it is not an easy target. This may be an issue for more Scrypt coins in the future, as Scrypt ASICs are now available.  This is significantly harder with Myriadcoin.

As each algorithm controls only 20% of the network, a 51% attacker would need to control an average of 51% of each algorithm to successfully attack the network.  For example, if someone brought in enough ASICs to capture 80% of both SHA256 and Scrypt, which would be very difficult on it’s own, that would still only amount to 32% of the overall network.  The remaining 19% would need to be carved out of the Qubit, Skein, and Groestl algorithms, and there are no ASICs in development for any one of those.

The logistics, and cost, of obtaining, organizing, and maintaining such a varied group of mining machines in order to perform an attack such as this makes it very unlikely.  I highly doubt there is any group with the capability to effectively pull this off.  Beyond that, the cost would make it prohibitively expensive, with no chance of using such an attack to profit in any way.

. . . we'll probably never see a DGB hashrate so high that it outshines all the others.

I'm much more positive on DigiByte, and I actually look forward to the day when that happens. It's not a question of if, but when. 

[ycagel]

Welcome! Great to have you on board and we look forward to your valuable contributions!

YC

Hi Digibyte community!

I have been interested in Digibyte for a number of weeks now and see you have a dedicated team behind the scenes and a great little positive community that I just had to jump on-board!

I was wondering Digibyte, your future targets up until New Year, the price you believe is possible by New Year and the future objectives at the start of 2015!

I look forward to hearing from you!

To Mars Digibyte! No time for the moon!

[ycagel]

News from Bill Gates:

Bill Gates: Bitcoin Highlights the Utility of Digital Money
Pete Rizzo (@pete_rizzo_) | Published on October 2, 2014 at 23:03 BST

During an interview on Bloomberg TV‘s “Street Smart” today, Bill Gates responded to new questions about bitcoin and its potential to bring innovation to the payments industry.

The technology advisor at Microsoft, founder of the Bill & Melinda Gates Foundation and recently crowned richest man in the world, in turn, provided short and somewhat muddled responses, though Gates addressed bitcoin more specifically than he has in the past.

Calling bitcoin “exciting” because of its ability to provide a relatively low-cost transaction network, Gates told Bloomberg:

“Bitcoin is better than currency in that you don’t have to be physically in the same place, and of course for large transactions currency can get pretty inconvenient.”

However, while seemingly positive, Gates went on to suggest that though he believes the world needs lower-cost payments solutions, bitcoin is perhaps not the best example of how the market should look to provide this solution.

Gates suggested that bitcoin may not appeal to the mass market due to its relative anonymity, as well as its associations with terrorism and money laundering.

He added:

“The customers we’re talking about aren’t trying to be anonymous, they’re willing to be known, so bitcoin technology is key and you can add to it or you could build a similar technology where there’s enough attribution where people feel comfortable that this is nothing to do with terrorism or any type of money laundering.”

The interview took place at Sibos 2014, a banking and financial conference held in Boston, where Gates also addressed the challenges facing the financial industry and the underbanked.

Notably, the first day of the event was dedicated in part to highlighting developments in the digital currency industry, with representatives from Circle, Ethereum and Ripple Labs.

Evolution in thought

Though brief, the statements mark an evolution in Gates’ public statements on bitcoin.

This February, the noted technologist and philanthropist participated in an Ask Me Anything on the social network Reddit where he was asked for his thoughts on bitcoin by multiple users.

At the time, Gates largely sidestepped the issue, choosing instead to focus his praise on digital money networks like Kenya’s centralized mobile service, M-Pesa.

Gates addressed bitcoin only once, saying:

“The foundation is involved in digital money, but unlike bitcoin it would not be anonymous digital money.”

Source: http://www.coindesk.com/bill-gates-bitcoin-highlights-utility-digital-money/