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

[Galangeka]

someone make a flowchart or a diagram
of how this work?

[Hegemon]

BTC,crypto currency,Gamers,Games etc. But thats for the gaming wallet.
This needs other targets i think.

HR's targets ? Like investment ?

[thsminer]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million


BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

[DigiByte]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million



BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

Thank you for sharing. We would love getting some ecomic analysis on this. Especially in relation to prevailing and historic economic theories.

[HR]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million


BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

Very interesting debate you bring up: the argument that a cryprocurrency is more an actual “physical cash” comparative, than a “cash + money in the bank” equivalent. I argue for the latter given the inherent “savings” quality (not to mention revolving checking, money fund equivalents, and the like) that the successful cryptos will have. I recently outlined my valuation ideas here: http://asistec-ti.com/tba/pricecalcs2015.htm

I really like this Wikipedia basic background article: https://en.wikipedia.org/wiki/Money_supply

The St. Louis Fed is another good data source as well. https://research.stlouisfed.org/fred2/series/M2

Everything’s relative, and it’s great to see the debate about relative worth moving beyond the narrow confines of the crypto world!

[EPLDCC]

someone make a flowchart or a diagram
of how this work?

A flowchart about how what works?  The context of your question was a bit unclear.  Happy to help if possible, but I'd need a bit more precision about what you're looking for.

[thsminer]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million



BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

Thank you for sharing. We would love getting some ecomic analysis on this. Especially in relation to prevailing and historic economic theories.

I would love to but every paralel with FIAT and it's theories would fail.
The reason for this is that we don't have a currency situation here. DGB is traded as a commodity. But when it comes to current usage the latter is not true either because if I try to figure out a parallel with the current monetary system DGB is used as a debitcard. You use FIAT to load your wallet with DGB and pay goods. The merchant however changes the DGB back to FIAT. Used in this way DGB is worthless. It's a way of transporting FIAT, your Master or Visa do not have a value either. They are also storage and transport mechnisms for FIAT.

So the only way to get it used as a currency is people paying with it and keep the coins to pay someting else. The first step to get people NOT changing the coins back to FIAT is usability and trust. The more place you can use it to pay the less reason one has to change it back. Second thing is the fact you need to rely on the coin. When you keep the coins to pay for something you need to be sure it does not inflate overnight by 10 or worse percent. So stability is key here, but raises other problems. FIAT is widely spread but stability is watched and maintained by buying and selling of a central organisation (FED, ECB whatsoever). For crypto in general there is a call for decentralisation and transparency so the old economic system does not work here anymore because that relies on centralisation. One big difference is the fact that the money supply is not regulated and with a central stabilisation organisation you would only bring trust because it stabilises the swings. Thats done right now with some coins by investors.

If I take a step back and look at the coins discussion and how many would be needed I'm tempted to say it really does not matter because there are too much uncertainties. When Satoshi designed BTC he gave it eight decimal  digits if you take that difference with FIAT in account BTC has 14,500,000 milliion ucoins compared to FIAT and still the possibity to use two decimals. But there is a psychological effect that is pretty important. In Europe, when the Euro was introduced they gave the Euro a value that was twice the DMark and the Guilder, twenty times the Belgium Frank and so on. That way people got the impression the goods where cheaper... So the Euro was accepted more easily. In that light the number of uBTC is too much compared to the US Dollar but not compared to the global FIAT around! And also not when we use BTC instead of uBTC.
Second issue here is the acceptation of eight decimal digits, I personally have a feeling people will stick to the current two decimals for the years to come. That said a global coin would need under 4,000,000 million coins in the next ten years to compete with the currrent FIAT system on a psychological basis.



 



   

[EPLDCC]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million



BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

Thank you for sharing. We would love getting some ecomic analysis on this. Especially in relation to prevailing and historic economic theories.

I would love to but every paralel with FIAT and it's theories would fail.
The reason for this is that we don't have a currency situation here. DGB is traded as a commodity. But when it comes to current usage the latter is not true either because if I try to figure out a parallel with the current monetary system DGB is used as a debitcard. You use FIAT to load your wallet with DGB and pay goods. The merchant however changes the DGB back to FIAT. Used in this way DGB is worthless. It's a way of transporting FIAT, your Master or Visa do not have a value either. They are also storage and transport mechnisms for FIAT.

So the only way to get it used as a currency is people paying with it and keep the coins to pay someting else. The first step to get people NOT changing the coins back to FIAT is usability and trust. The more place you can use it to pay the less reason one has to change it back. Second thing is the fact you need to rely on the coin. When you keep the coins to pay for something you need to be sure it does not inflate overnight by 10 or worse percent. So stability is key here, but raises other problems. FIAT is widely spread but stability is watched and maintained by buying and selling of a central organisation (FED, ECB whatsoever). For crypto in general there is a call for decentralisation and transparency so the old economic system does not work here anymore because that relies on centralisation. One big difference is the fact that the money supply is not regulated and with a central stabilisation organisation you would only bring trust because it stabilises the swings. Thats done right now with some coins by investors.

If I take a step back and look at the coins discussion and how many would be needed I'm tempted to say it really does not matter because there are too much uncertainties. When Satoshi designed BTC he gave it eight decimal  digits if you take that difference with FIAT in account BTC has 14,500,000 milliion ucoins compared to FIAT and still the possibity to use two decimals. But there is a psychological effect that is pretty important. In Europe, when the Euro was introduced they gave the Euro a value that was twice the DMark and the Guilder, twenty times the Belgium Frank and so on. That way people got the impression the goods where cheaper... So the Euro was accepted more easily. In that light the number of uBTC is too much compared to the US Dollar but not compared to the global FIAT around! And also not when we use BTC instead of uBTC.
Second issue here is the acceptation of eight decimal digits, I personally have a feeling people will stick to the current two decimals for the years to come. That said a global coin would need under 4,000,000 million coins in the next ten years to compete with the currrent FIAT system on a psychological basis.

I basically agree with your general conclusions THS.  The more I read and study price, monetary theory, commodity valuation, capital allocations, etc., the less I am able to apply any of the analysis to digital currency.  Currently, I'm pretty hot on the idea of tokenization (my most recent area of economic reading and study) ... that seems to have lots of promise related to the blockchain and implementations of the blockchain.  Honestly, the best way that I've come up with to value digital currencies is as a financial service (in one form or another). 

But, that doesn't mean that I don't believe in the future of digital currency.  I do ... it's got a great future - and the opportunities for growth and applications of the blockchain are just fantastic.  I think that DGB has some real competitive advantages in this area.

Also, I recognize that all this is complicated because economics is largely a study of political and social questions and problems expressed in terms of financial systems.  There are important political and social implications of digital currencies in identity economics.  And, I think that identity economics provide an important context for the discussion of digital currencies as "currency" and as "commodity."     

[thsminer]

I basically agree with your general conclusions THS.  The more I read and study price, monetary theory, commodity valuation, capital allocations, etc., the less I am able to apply any of the analysis to digital currency.  Currently, I'm pretty hot on the idea of tokenization (my most recent area of economic reading and study) ... that seems to have lots of promise related to the blockchain and implementations of the blockchain.  Honestly, the best way that I've come up with to value digital currencies is as a financial service (in one form or another). 

But, that doesn't mean that I don't believe in the future of digital currency.  I do ... it's got a great future - and the opportunities for growth and applications of the blockchain are just fantastic.  I think that DGB has some real competitive advantages in this area.

Also, I recognize that all this is complicated because economics is largely a study of political and social questions and problems expressed in terms of financial systems.  There are important political and social implications of digital currencies in identity economics.  And, I think that identity economics provide an important context for the discussion of digital currencies as "currency" and as "commodity."     

You are very right about the blockchain technology. I think it will play an important role the next decade together with cryptograpy in general.
I'm also convinced digital currency is here to stay one way or another. Digibyte was lucky to run into it's investor and the cooperation with Tofugear. It can give the coin a lead but it all revolves around acceptation and trust.
On the other hand trust is maybe overestimated. Nobody seems to care about all the camera's along the road and what happens with the footage, the same with social media people don't seem to care what happens with their private messages and pictures.

[halinyo]

I tried to get some insight in the numbers of coins in circulation and as far as I can retrieve values this is what I came up with.

All in Million



BTC          14.5
LTC          41
DGB         4,635
XRP          31,908
Doge        100,308
Euro         1,041,902 (ECB)
US Dollar  3,919,529
Yen          85,662,000


The above FIAT values are retrieved from the M0 money supply from www.tradingeconomics.com and the cryptos from coinmarketcap.com

Thank you for sharing. We would love getting some ecomic analysis on this. Especially in relation to prevailing and historic economic theories.

Considering the amount of Supply in FIATs, all of those digital currencies are really scarce, including DOGE.
Once people start relying 50:50 on FIAT:Digital currencies (still a lot to go, end-user is a must), I just cannot imagine where they can reach!

[HR]

What is the world's oldest, most reliable, and most trusted storage of wealth? Besides the herd of goats?

Gold.

An it's a commodity.

That is the successful crypto's first goal.

The Swiss Franc is a foreign currency, but it's treated as if it were a commodity, and you can buy and sell electronically as well.

That's the second goal of the successful cryptocurrency.

And the comparisons and parallels are direct.

[Acidyo]

WTB 2M DGB for 25 sats per.

[HR]

WTB 2M DGB for 25 sats per.

Take it to Cryptsy, and up your offer to 30, cus 25 just might not be seen ever again. 

[Sharkzz1]

I just searched for help for translations on google and found this:
https://www.onehourtranslation.com/
it costs 0.079$ per word translated
I think its gonna cost around 150$ per language, do you guys think that its worth it or should the DigiByte community translate it?
We really need to translate the site because the google translate words look like shit/spam.
Or should we just stick with a few languages?

[Sharkzz1]

21 March 2015: DigiHash Easy Miner 2.0 released!
9 June 2015 : DigiByte has been added to the Coinomi Wallet!
12 june 2015 : DigiByte Gaming Wallet released for Androind and Chrome extension!
14 June 2015 : EPLDCC releases https://digibytegroup.com/
27 June 2015: DigiStats live!
20 July 2015 : First DigiReport!

Additional information for the OP

[Sharkzz1]

That's great, thx

[Jumbley]

@b1007   I'm sure you are mistaken about not being welcome at the other forum, it's not the DigiByte way unless you are obviously trolling and that' s not the case, is it.

[Jumbley]

@b1007   I'm sure you are mistaken about not being welcome at the other forum, it's not the DigiByte way unless you are obviously trolling and that' s not the case, is it.

Nahh wasn't trolling, was just a lil sceptical about my investment in DigiByte and then was told to stfu and gtfo basically 

Must of happened in Dutch, I can't speak that! Post in English next time, everyone is entitled to their opinion.

[Jumbley]

Hello all,
I have a friend who is very good at making crochet toys etc...  I helped make her a website at http://www.icrochetit.com/en/  but unfortunately the paypal module isn't working so i said ' why don't you start excepting DigiByte?' well she has agreed and said she'll also crochet the DigiByte man!
My problem is finding a way to integrate this?  are there any free modules that work with prestashop? https://www.prestashop.com/

Thanks

I would like to commission your friend to crochet me a DigiMan balaclava, anyone else want one?

Will pay with DigiByte, of course!

[McKnight]

Hello all,
I have a friend who is very good at making crochet toys etc...  I helped make her a website at http://www.icrochetit.com/en/  but unfortunately the paypal module isn't working so i said ' why don't you start excepting DigiByte?' well she has agreed and said she'll also crochet the DigiByte man!
My problem is finding a way to integrate this?  are there any free modules that work with prestashop? https://www.prestashop.com/

Thanks

I would like to commission your friend to crochet me a DigiMan balaclava, anyone else want one?

Will pay with DigiByte, of course!

I'll find out later for ya, I was thinking about a DigiByte woolly jumper for the winter months!