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

[fredeq]

Please have a look at blockexplorer http://www.digiexplorer.info/api/status?q=getInfo
Seems that wallet disconnected.

[1714840884]

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[CRYPTONAIRE]

^^ https://bitcointalk.org/index.php?topic=408268.msg10839735#msg10839735

Thanx 24! 

[thsminer]

I really don't think its over supply at all.  In my opinion, the problem with alt coins in general is that they just aren't that useful in many places, or if I can buy something with the currency, how easy is it for me to do so? For a lot of things if I want to buy something I would have to buy BTC, convert it to DGB, then pay for the item.  All of which take a transaction / conversion hit.  

What can I buy with Digibyte?  And how easy is it for me to buy that item?  There is certainly a list of growing merchants and I am glad for that but until we are ready for the masses to start using DGB there is going to be a lot of downward pressure just because people aren't using it.  

The opposite might be true, the more use the coin has it will add to downward pressure as you will have merchants and miners selling dgb. Guldencoin is a good example of this, the more merchants and use they have added the harder the price is dropping. For the long term this is a must of course but since we all talking short term that is the reality.

The purchases with crypto are highly overestimated, so are the number of merchants. NLG lost a lot of credibility and thus some large investors so thats a total different story. DGB just does not have buyers atm. The volume is a mere BTC so only a very small part of the daily supply is instasold atm.
Crypto coin markets are very unstable and lack of news, even the smallest message, will drive speculators to other coins. So as long as there is no use on a day to day basis it will be the playing field of speculators.  

[Bluestreet]

I really don't think its over supply at all.  In my opinion, the problem with alt coins in general is that they just aren't that useful in many places, or if I can buy something with the currency, how easy is it for me to do so? For a lot of things if I want to buy something I would have to buy BTC, convert it to DGB, then pay for the item.  All of which take a transaction / conversion hit.  

What can I buy with Digibyte?  And how easy is it for me to buy that item?  There is certainly a list of growing merchants and I am glad for that but until we are ready for the masses to start using DGB there is going to be a lot of downward pressure just because people aren't using it.  

The opposite might be true, the more use the coin has it will add to downward pressure as you will have merchants and miners selling dgb. Guldencoin is a good example of this, the more merchants and use they have added the harder the price is dropping. For the long term this is a must of course but since we all talking short term that is the reality.

The purchases with crypto are highly overestimated, so are the number of merchants. NLG lost a lot of credibility and thus some large investors so thats a total different story. DGB just does not have buyers atm. The volume is a mere BTC so only a very small part of the daily supply is instasold atm.
Crypto coin markets are very unstable and lack of news, even the smallest message, will drive speculators to other coins. So as long as there is no use on a day to day basis it will be the playing field of speculators.  

That is a unfortunate choice of words. A disagreement with the criptoe team is not a issue of credibility. Creating a scam or PnD and leave for dead coin is a issue of credibility.

[TamiLee]

DGB just does not have buyers atm. The volume is a mere BTC so only a very small part of the daily supply is instasold atm.

Some miners hold a lot of coins , so this is true. They waiting for higher price to sell.

[24hralttrade]

Hello,
I downloaded Digibyte Gaming wallet just to try it, sent some tips, but now I am getting this message: Could not update wallet. Tap to retry. 

Same here, I guess they are updating the servers. I have reported this,will get fixxed soon.

Works for me now

[doremi]

First fo all,i would like to thanks to  those who speak out his opinion about the issue of "oversupply" ,it is a good sign that all of you diccussing it with highly rational and so far i don`t see anyone giving their point of view with the "no brain rage".

Unfortunalely,i still beleive that the undervalue of DGB is due to the oversupply base on the fact that DGB really having the high inflation in the future,just take a look with the simple math and some numbers below:

coins that have been mined atm : 4.4897 billion
coins that will be mined after a year : 6.7 million*365= 2445.5 million(2.4455 billion)

2.4455/4.4897 *100%=54.47% inflation

that is true that not all the miners are the instamine sellers..however..due to the high inflation of DGB,as long as there is a better price for the better profits,there will be more miners take the chance to sell instead of holding because they know they will never lack of coins if they keep mining on it..unless there is a miracle like investers/users/supporters/holders dramaticaly increase or there will be no clue of how to walk through the wall of undervalue.

[MemberCount+1]

I buy currently not more DGB. If the price go under 30 I sell my coins, because then we go back to 12-18sat.

Nobody needs 7Mio coins per day, we are not Google or PayPal or Apple, this is a little altcoin in a field with many other coins.  If the price is supposed to be stable, we need at least 200000,- invests in the coin.

therefore, increase the supply-timespan.

[DigiByte]

Update on DigiHash: We are working to get the pool restarted. We are experiencing a very rare "failed" to write block error on the pool wallet daemons. As soon as we get it fixed and back online we will let everyone know. In the mean time there are several pools that can be found here: https://bitcointalk.org/index.php?topic=408268.0#post_pool

[DigiByte]

I buy currently not more DGB. If the price go under 30 I sell my coins, because then we go back to 12-18sat.

Nobody needs 7Mio coins per day, we are not Google or PayPal or Apple, this is a little altcoin in a field with many other coins.  If the price is supposed to be stable, we need at least 200000,- invests in the coin.

therefore, increase the supply-timespan.

What is everyones opinion on pushing the 21 bill generation farther out. Aka reducing the current reward so production of the 21 billion lasts longer. Our opinion is things are fine right now, but we should focus and are focusing all our resources on marketing projects. More news to come shortly

[EPLDCC]

First fo all,i would like to thanks to  those who speak out his opinion about the issue of "oversupply" ,it is a good sign that all of you diccussing it with highly rational and so far i don`t see anyone giving their point of view with the "no brain rage".

Unfortunalely,i still beleive that the undervalue of DGB is due to the oversupply base on the fact that DGB really having the high inflation in the future,just take a look with the simple math and some numbers below:

coins that have been mined atm : 4.4897 billion
coins that will be mined after a year : 6.7 million*365= 2445.5 million(2.4455 billion)

2.4455/4.4897 *100%=54.47% inflation

that is true that not all the miners are the instamine sellers..however..due to the high inflation of DGB,as long as there is a better price for the better profits,there will be more miners take the chance to sell instead of holding because they know they will never lack of coins if they keep mining on it..unless there is a miracle like investers/users/supporters/holders dramaticaly increase or there will be no clue of how to walk through the wall of undervalue.

Your numbers are pretty close (I think you might be using last month's block reward?).  But, either way, you're pretty close for this year (2015).  Just as a point of clarification, you're not accounting for the 1% monthly reduction in block rewards.  The monthly 1% reduction compounds to 12.68% annual reduction in block rewards.  Remember that DGB is a relatively new coin (genesis block in January 2014).  Adding liquidity to the first couple of years is not a terrible problem.  2016 will not be anywhere close to same percentage increase as this year, and it will continue to decrease.

I sort of disagree with the term "inflation" that you use above.  I don't entirely think you're wrong, I just think your terminology is a bit misleading.  Inflation refers to purchasing power, and not to supply and demand.  Technically, with new coins we're talking about supply.  Increasing supply could possibly outpace demand, which could lead to a decreased exchange value.  So, I see how you get from point A to point B ... although, technically speaking, it's not inflation.  Describing the increase in new coins as inflation assumes that the demand remains constant over time.  I can't predict the future, that's why it's exciting.

Also, just to put things in perspective.  There are many of POS coins that have a 5% monthly stake reward (some higher, some a bit lower).   A 5% monthly stake equals a 79.59% annual interest rate. 

From a personal standpoint, I do not worry one way or another about current exchange value.  You, and other people, are asking great questions about the current supply and demand.  The questions you are asking are important questions.  They are valuable questions to ask.  But, I also think we need to ask another question.  I think we need to ask if the current demand represents the future demand?  And, we also need to ask if the current market represents the future market?  I think the future has some really great opportunity and possibility for DGB (and digital currency generally).  I also believe that DGB has strong comparative advantages in the existing market. 

A long time ago, I first became interested in digital currencies because I felt like the offered a chance to redefine and reinvent - to innovate and develop our economic communities and economic experiences.  Digital currencies inspire us.  I'm not trying to be sentimental here.   There are also lots of challenges and obstacles that we need to overcome.  But,  I think DGB has a fantastic community.  It's a community that I am happy to be a part of and support.  DGB also has a fantastic development team that is devoted, professional, and continues to innovate and develop ... it will be exciting to see where the future takes us all. 

[MemberCount+1]

... There are many of POS coins that have a 5% monthly stake reward (some higher, some a bit lower).   A 5% monthly stake equals a 79.59% annual interest rate.  

But these coins are "frozen" over one year/month for the 5% stake reward. you can't trade/sell these coins in this time.

[thsminer]

First fo all,i would like to thanks to  those who speak out his opinion about the issue of "oversupply" ,it is a good sign that all of you diccussing it with highly rational and so far i don`t see anyone giving their point of view with the "no brain rage".

Unfortunalely,i still beleive that the undervalue of DGB is due to the oversupply base on the fact that DGB really having the high inflation in the future,just take a look with the simple math and some numbers below:

coins that have been mined atm : 4.4897 billion
coins that will be mined after a year : 6.7 million*365= 2445.5 million(2.4455 billion)

2.4455/4.4897 *100%=54.47% inflation

that is true that not all the miners are the instamine sellers..however..due to the high inflation of DGB,as long as there is a better price for the better profits,there will be more miners take the chance to sell instead of holding because they know they will never lack of coins if they keep mining on it..unless there is a miracle like investers/users/supporters/holders dramaticaly increase or there will be no clue of how to walk through the wall of undervalue.

Your numbers are pretty close (I think you might be using last month's block reward?).  But, either way, you're pretty close for this year (2015).  Just as a point of clarification, you're not accounting for the 1% monthly reduction in block rewards.  The monthly 1% reduction compounds to 12.68% annual reduction in block rewards.  Remember that DGB is a relatively new coin (genesis block in January 2014).  Adding liquidity to the first couple of years is not a terrible problem.  2016 will not be anywhere close to same percentage increase as this year, and it will continue to decrease.

I sort of disagree with the term "inflation" that you use above.  I don't entirely think you're wrong, I just think your terminology is a bit misleading.  Inflation refers to purchasing power, and not to supply and demand.  Technically, with new coins we're talking about supply.  Increasing supply could possibly outpace demand, which could lead to a decreased exchange value.  So, I see how you get from point A to point B ... although, technically speaking, it's not inflation.  Describing the increase in new coins as inflation assumes that the demand remains constant over time.  I can't predict the future, that's why it's exciting.

Also, just to put things in perspective.  There are many of POS coins that have a 5% monthly stake reward (some higher, some a bit lower).   A 5% monthly stake equals a 79.59% annual interest rate.  

From a personal standpoint, I do not worry one way or another about current exchange value.  You, and other people, are asking great questions about the current supply and demand.  The questions you are asking are important questions.  They are valuable questions to ask.  But, I also think we need to ask another question.  I think we need to ask if the current demand represents the future demand?  And, we also need to ask if the current market represents the future market?  I think the future has some really great opportunity and possibility for DGB (and digital currency generally).  I also believe that DGB has strong comparative advantages in the existing market.  

A long time ago, I first became interested in digital currencies because I felt like the offered a chance to redefine and reinvent - to innovate and develop our economic communities and economic experiences.  Digital currencies inspire us.  I'm not trying to be sentimental here.   There are also lots of challenges and obstacles that we need to overcome.  But,  I think DGB has a fantastic community.  It's a community that I am happy to be a part of and support.  DGB also has a fantastic development team that is devoted, professional, and continues to innovate and develop ... it will be exciting to see where the future takes us all.  

Completely agree with the above!

DGB has a strong community, if somebody asked to contribute .1 BTC for the future of Digibyte, for sure a couple BTC is donated. If I donate some satoshis for some coins development I expect nothing else in return but a healthy coin so why should I be bothered about the price if I supportively buy a coin?
By buying Digi at these levels one can see it as a  supportive investment. Every community member buys his stake in the future and as long as you have faith in a coins possibilities price is less important.
 

[benjamoyne]

... There are many of POS coins that have a 5% monthly stake reward (some higher, some a bit lower).   A 5% monthly stake equals a 79.59% annual interest rate.  

But these coins are "frozen" over one year/month for the 5% stake reward. you can't trade/sell these coins in this time.

In what way are they "frozen"
If you want to say reinvest your staked coins, ie keep them in the wallet, then yes they are "frozen".

Or if your like me, I run a few staking wallets and sell off my "interest" all the time.
I still leave my original balance staking and never drop below those amounts.

Thats why the whole POS/POW argument never makes sense to me. either way, you can still dump.

@Digibyte

I say leave it. this happens every time the price drops, drives me insane, I usually avoid the forums during these times.
Currently you are rewarding early adopters and making a solid entry into the Digibyte market easily affordable.
We have changed the reward once, is it really going to achieve anything long term by cutting it again??

Looking forward to the news

[doremi]

I still leave my original balance staking and never drop below those amounts.

yes..this is the most important part

[bogglor]

I buy currently not more DGB. If the price go under 30 I sell my coins, because then we go back to 12-18sat.

Nobody needs 7Mio coins per day, we are not Google or PayPal or Apple, this is a little altcoin in a field with many other coins.  If the price is supposed to be stable, we need at least 200000,- invests in the coin.

therefore, increase the supply-timespan.

What is everyones opinion on pushing the 21 bill generation farther out. Aka reducing the current reward so production of the 21 billion lasts longer. Our opinion is things are fine right now, but we should focus and are focusing all our resources on marketing projects. More news to come shortly

The problem is that you changed the block reward so that it takes WAY too long for it to reduce. Change it back to the original 0.5% every 3.5 days.

[bogglor]

Your numbers are pretty close (I think you might be using last month's block reward?).  But, either way, you're pretty close for this year (2015).  Just as a point of clarification, you're not accounting for the 1% monthly reduction in block rewards.  The monthly 1% reduction compounds to 12.68% annual reduction in block rewards.  Remember that DGB is a relatively new coin (genesis block in January 2014).  Adding liquidity to the first couple of years is not a terrible problem.  2016 will not be anywhere close to same percentage increase as this year, and it will continue to decrease.

You're still a bit off... multiply the reward by 0.99 each month, it's currently only about 11.36% yearly reduction....

Month 0   100.00%
Month 1   99.00%
Month 2   98.01%
Month 3   97.03%
Month 4   96.06%
Month 5   95.10%
Month 6   94.15%
Month 7   93.21%
Month 8   92.27%
Month 9   91.35%
Month 10   90.44%
Month 11   89.53%
Month 12   88.64%

[plumptoiletduck]

[/quote]

What is everyones opinion on pushing the 21 bill generation farther out. Aka reducing the current reward so production of the 21 billion lasts longer. Our opinion is things are fine right now, but we should focus and are focusing all our resources on marketing projects. More news to come shortly
[/quote]

I say keep the reward as it is for now.

We can't keep changing the reward each time the price increases or decreases. As EPLDCC said above, we need to be preparing for the future market of DigiByte. The current situation is a periodic slump for various reasons. Supply is outstripping demand only very slightly at the moment, that can change very quickly.

[o0o0]

I buy currently not more DGB. If the price go under 30 I sell my coins, because then we go back to 12-18sat.

Nobody needs 7Mio coins per day, we are not Google or PayPal or Apple, this is a little altcoin in a field with many other coins.  If the price is supposed to be stable, we need at least 200000,- invests in the coin.

therefore, increase the supply-timespan.

What is everyones opinion on pushing the 21 bill generation farther out. Aka reducing the current reward so production of the 21 billion lasts longer. Our opinion is things are fine right now, but we should focus and are focusing all our resources on marketing projects. More news to come shortly

I'm of 2 minds on it, though I believe it should be left as is because it won't solve the problem.

If its reduced the reward then the value rises due to scarcity... unfortunately the auto dump still occurs from miners so all you are doing is raising the price temporarily to reward them... this is not good.

This is the problem
- Generated digibyte per day (supply) far exceeds purchasing (demand).
- Miners throwing hashrate at it are getting the majority of this reward. They have no interest in digibyte only on what the btc reward value they get from auto selling provides... if you don't believe me look at cryptsy market history and the sell orders.... lots of 10,000 and other consistent values. You can spot the auto miner sells / bots a mile off. Once digibyte falls below the threshold of profit they will switch to another coin while they wait for it to rise again so they can exploit it.

Solutions
- POS --> won't work..... you'll just get the equiv of miners dumping with holding large stakes and selling off the interest... you are basically just providing those miners with a cheap alternative... a software wallet. This will fail.
- Reduce the reward --> won't work... not enough buy pressure.. scarcity will raise the price a little but this will reward the miners while they sell and eat the buy side away over time.

If the coin supply was less this wouldn't be a problem... but then as a micro transaction currency it fails because there isn't enough coins for large scale use without resorting to fractions of a coin which is less user friendly from a perception point of view (public prefer to spend 1 coin not a ratio of one... its a math comfort thing I guess people like whole values).

So whats the real solution? The digibyte group in part with advertising are getting the word out there.... the only true solution is those in the coin to buy more consistently .... not large chunks in one go just fight the pressure a little. This only stabilises the problem though. What we need is more people entering and buying and most of all MINING.... while you have the few getting the mining reward you'll always have that pressure on selling. Needs reward split more out amongst the people.

To raise adoption you need useful services... altcoins are a dime a dozen and for now digibyte is no different. Sure its got a dedicated dev and good work but without services and actual uses it might as well just be any other altcoin.

I think the QT wallet needs an automatic miner built into it... when you open the wallet it starts mining automatically. Use easy miner so some of this effort goes back to the dev pool to fund future work. This works hand in hand with the advertising... for every user that downloads and runs the wallet you have a less centralised mining monopoly. Put a slider in the wallet miner so users can change the amount of cpu/gpu dedicated to an algo. Default it at 20% so it doesn't smash their pc. Put a warning in the wallet to notify people this is happening... maybe a start stop miner button on the main area so its user friendly... don't call it a miner though.... call it Finding coins or something.... user friendly again.

This helps a part of the problem... the rest is up to the community. Jarod has the coin code covered with his team. The rest of those involved in the coin in investment need to go forth and make a service / site something that uses the coin. If we want it to succeed we can't sit back and buy and hope for magic money profits off the backs of others... we all promote and increase the coin we all win.

My 2 DGB... i'm making my own service still at present so i'm doing my part..... are others? If you aren't tech saavy to do this then integrate dgb as a payment on a webstore you run... don't run a business? Then you should be promoting DGB for this.... get your friends to download it and make it your duty to gift each one of them 100-1000 digibyte. Get a group of friends together play some games and wager your dgb with each other and send to each other when that happens to get them familiar.... get them on to cryptsy to buy some of their own and do the same.

Its in our hands... how digibyte prospers or draws its last breath is up to us!

[TamiLee]

As a miner I would want rewards to stay the same as I get more coins for same hash rate. With higher price I get less coins if I am holding long term.