DigiByte (OP)
Legendary
 Offline
Activity: 1722
Merit: 1051
Official DigiByte Account
|
 |
June 18, 2014, 08:21:41 PM |
|
Very interesting. These are the type of people we have sought to link up with since day one. Thanks for posting! I thought that might interest you. I see this as a perfect match for DigiByte. What better way to build value? Onward and upward... Much agreed. We actually have some very exciting stuff coming up on the investment front. Stay tuned. As for multi-algo we are still working out coding bugs. No one has ever forked to multi-algo mining before. A few devs have told us it is not even possible. We disagree as we are most of the way there. We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited! DigiByte to the moon!  |
|
|
|
|
illodin
|
|
June 18, 2014, 08:49:57 PM |
|
We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited! DigiByte to the moon! I've been a fan of DigiByte and the team right from the beginning. A good mix of professionalism and fresh enthusiasm of being involved in the beginning of this crypto movement. To the moon indeed!  |
|
|
|
|
|
Ashbite
|
|
June 18, 2014, 08:51:04 PM |
|
Go digibyte go! I've been here from the start and wish u guys good luck with the progres of the coin.  |
|
|
|
|
|
bholzer
|
|
June 18, 2014, 08:53:30 PM |
|
Very interesting. These are the type of people we have sought to link up with since day one. Thanks for posting! I thought that might interest you. I see this as a perfect match for DigiByte. What better way to build value? Onward and upward... Much agreed. We actually have some very exciting stuff coming up on the investment front. Stay tuned. As for multi-algo we are still working out coding bugs. No one has ever forked to multi-algo mining before. A few devs have told us it is not even possible. We disagree as we are most of the way there. We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited! DigiByte to the moon! While I personally see a number of potential issues with multi-algo coins long-term (not even considering the hurdle of transitioning to it via fork) I'm all for anything innovative and admire the brainstorming and dedication. We're in the middle of an altcoin wasteland of clones, premines, pump-and-dumps, deceptive/vanishing devs, IPO scams, PoS scams, and more... I just enjoy seeing a dev team that actually cares about improving their coin and stands by their work and their community. I certainly hope DigiByte can pull this off - if you're looking for any input from me, drop me a PM and I'll let you know my thought process for Murraycoin before I opted to settle on solely Scrypt-2048. Keep up the good work - DigiByte is absolutely undervalued for almost every possible reason. |
|
|
|
|
hyeoam
|
|
June 18, 2014, 08:53:53 PM |
|
|
Donate BTC: 1NRG17fYCNcfQvQHC3G9TUAowNKsM4oTWA
|
|
|
DigiByte (OP)
Legendary
Offline
Activity: 1722
Merit: 1051
Official DigiByte Account
|
|
June 18, 2014, 10:39:51 PM |
|
Very interesting. These are the type of people we have sought to link up with since day one. Thanks for posting! I thought that might interest you. I see this as a perfect match for DigiByte. What better way to build value? Onward and upward... Much agreed. We actually have some very exciting stuff coming up on the investment front. Stay tuned. As for multi-algo we are still working out coding bugs. No one has ever forked to multi-algo mining before. A few devs have told us it is not even possible. We disagree as we are most of the way there. We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited! DigiByte to the moon! While I personally see a number of potential issues with multi-algo coins long-term (not even considering the hurdle of transitioning to it via fork) I'm all for anything innovative and admire the brainstorming and dedication. We're in the middle of an altcoin wasteland of clones, premines, pump-and-dumps, deceptive/vanishing devs, IPO scams, PoS scams, and more... I just enjoy seeing a dev team that actually cares about improving their coin and stands by their work and their community. I certainly hope DigiByte can pull this off - if you're looking for any input from me, drop me a PM and I'll let you know my thought process for Murraycoin before I opted to settle on solely Scrypt-2048. Keep up the good work - DigiByte is absolutely undervalued for almost every possible reason. Thank you for the support and info! Any input about some potential long term issues you see with multi-algo mining would be much appriciated. We want to avoid all the problems and issues we can ahead of time. |
|
|
|
imicaihi
Newbie
Offline
Activity: 9
Merit: 0
|
|
June 19, 2014, 11:40:45 AM |
|
Very interesting. These are the type of people we have sought to link up with since day one. Thanks for posting! I thought that might interest you. I see this as a perfect match for DigiByte. What better way to build value? Onward and upward... Much agreed. We actually have some very exciting stuff coming up on the investment front. Stay tuned. As for multi-algo we are still working out coding bugs. No one has ever forked to multi-algo mining before. A few devs have told us it is not even possible. We disagree as we are most of the way there. We are working very hard on multiple front right now. The next 6 months are going to be awesome for DigiByte! We are for excited! DigiByte to the moon! While I personally see a number of potential issues with multi-algo coins long-term (not even considering the hurdle of transitioning to it via fork) I'm all for anything innovative and admire the brainstorming and dedication. We're in the middle of an altcoin wasteland of clones, premines, pump-and-dumps, deceptive/vanishing devs, IPO scams, PoS scams, and more... I just enjoy seeing a dev team that actually cares about improving their coin and stands by their work and their community. I certainly hope DigiByte can pull this off - if you're looking for any input from me, drop me a PM and I'll let you know my thought process for Murraycoin before I opted to settle on solely Scrypt-2048. Keep up the good work - DigiByte is absolutely undervalued for almost every possible reason. Thank you for the support and info! Any input about some potential long term issues you see with multi-algo mining would be much appriciated. We want to avoid all the problems and issues we can ahead of time. I've been reading up (well, catching up I suppose) on the multi-algo approach and the problem it is aiming to solve and wanted to see if I understood the problem itself properly and then to try and understand how the multi-algo approach would solve it. If I got it right, the main problem is that multi-pools come in for short periods of time, bring a huge spike of hashpower into the network, then leave after they have driven the diff drastically up to where it is no longer that profitable for them to mine. The aftermath, once they leave, is twofold - a high diff left for much less hashpower to solve (DigiShield helps mitigate that to a nice extent) and of course the coins the multi-pool dumps into the market upon leaving, driving the price down. Another problem added here (and to each his own on its priority opposite the problems stated above) would be the security of the network in terms of 51% when gigantic pools (multi or otherwise) come in to have their cake, eat it too and then have it again (with the potential of double spend and such). Does this describe the main, if not the entire scope of the problem? Assuming it does, I am trying to understand how the multi-algo will essentially solve it or at least mitigate in a substantial way. While I think I understand the reasoning given for it, I am struggling with the fact(?) that multi-pools these days are becoming multi-algo as well where essentially they allow miners to decide which algo to use and divert each algo to the most profitable coin within that algo's space. Essentially what I see could happen here, is that such a multipool would now be able to direct ALL its algos into the DGB network (let's assume they work with the 5 chosen for DGB), so essentially under their control (as a pool) would be not just one algo but possibly 5 algos, assuming they can get enough hash power. Even if that possibility is remote and they cannot gain an overall 51% (which I think is indeed much less likely), they could still bring a total hashpower overall that would allow them to spike up the individual diffs and most of all, gain a chunk of the coins being mined and dump them into the market as they do now, driving prices down and then leaving for another coin while the diffs have spiked up for everyone else to deal with it, until the next cycle (each on their respective algo/diff within DGB). I would appreciate some thoughts on my analysis of things. (From anyone, of course, but definitely from the DGB devs) |
|
|
|
|
Ryven Cedrylle
Member
Offline
Activity: 75
Merit: 10
|
|
June 19, 2014, 11:58:22 AM |
|
A community project I think we should consider to help the devs out with their marketing work - Prypto cards. If you're not familiar with Prypto, they manufacture scratchcards pre-loaded with a specific denomination of digital currency. It's effectively a gift card or an iTunes card but with crypto. I've been working (in my spare time) to get dogecoin cards put in comics and games shops around my area in the Southeast US - first because I have an in with the RPG industry and second because of the doge age demographic. It may be time to get DigitByte on the bandwagon too. (And in case you didn't hear, MyriadCoin is manufacturing Prypto, is working on merging the Prypto redemption API into their electrum wallet now and is giving away 1000 cards somewhere in the near future.) The cost of the first set of DGB cards is shown here. It's not cheap, but that's largely because the first set must be at least 1000 cards and there are fees for setup, design, wallet storage, etc. Subsequent packs would be much cheaper. A pack of fifty 1000Ð cards is about $28-30 right now, shipping included.  Now my wife is working part-time and we have a 7-month old kid so there's no way in blazes I can pay for this myself, but I'm willing to contribute and facilitate the purchase once we have the funds raised (a little under 2 BTC). The idea would be to have Jared set up a wallet somewhere (maybe one DGB and one BTC?) that we can all contribute to. Once the funds are collected, I will give Jared (and post publicly for accountability) the Prypto payment address. We can have the cards sent to him to use for whatever purposes the team might find them useful. Thoughts? |
|
|
|
|
|
ycagel
|
|
June 19, 2014, 12:13:43 PM |
|
Ryven, Another great idea and appreciate your initiative. I was looking into the creation of something similar to the BlackCard for DGB also. Is this something similar? If not, how do we get a DGB debit card? I am open to contacting Xapo. YC A community project I think we should consider to help the devs out with their marketing work - Prypto cards. If you're not familiar with Prypto, they manufacture scratchcards pre-loaded with a specific denomination of digital currency. It's effectively a gift card or an iTunes card but with crypto. I've been working (in my spare time) to get dogecoin cards put in comics and games shops around my area in the Southeast US - first because I have an in with the RPG industry and second because of the doge age demographic. It may be time to get DigitByte on the bandwagon too. (And in case you didn't hear, MyriadCoin is manufacturing Prypto, is working on merging the Prypto redemption API into their electrum wallet now and is giving away 1000 cards somewhere in the near future.) The cost of the first set of DGB cards is shown here. It's not cheap, but that's largely because the first set must be at least 1000 cards and there are fees for setup, design, wallet storage, etc. Subsequent packs would be much cheaper. A pack of fifty 1000Ð cards is about $28-30 right now, shipping included. Now my wife is working part-time and we have a 7-month old kid so there's no way in blazes I can pay for this myself, but I'm willing to contribute and facilitate the purchase once we have the funds raised (a little under 2 BTC). The idea would be to have Jared set up a wallet somewhere (maybe one DGB and one BTC?) that we can all contribute to. Once the funds are collected, I will give Jared (and post publicly for accountability) the Prypto payment address. We can have the cards sent to him to use for whatever purposes the team might find them useful. Thoughts? |
|
|
|
|
Ryven Cedrylle
Member
Offline
Activity: 75
Merit: 10
|
|
June 19, 2014, 12:19:20 PM |
|
Ryven,
Another great idea and appreciate your initiative. I was looking into the creation of something similar to the BlackCard for DGB also. Is this something similar?
If not, how do we get a DGB debit card? I am open to contacting Xapo.
YC
It's not a debit card. It's more like a promissory note. Prypto holds the DGB (the 1,000,000-ish required you see there at the bottom) and issues cards with two codes printed on them. One code is open-air and and can be used to verify the card has not yet been redeemed. The other code requires scratching and is necessary to redeem the card. You go to CryptoScratchCards.com, enter the two codes and your wallet address and the coins are deposited in your wallet. I think you'd have to go to Xapo for a proper debit card. |
|
|
|
|
|
CryptoLTD
|
|
June 19, 2014, 01:55:37 PM |
|
Well digi-shield did work, but I think the problem with it, its it used prior blocks to calculate the current diff , as we would be left hanging on any coin using digi-shield for hrs n hrs with no found blocks. From my understanding that retagret formula is being changed too.
|
|
|
|
|
|
ycagel
|
|
June 19, 2014, 04:22:15 PM |
|
Ryven, What is the security of the platform providing the "note"? What if they go down under? Are the DGB lost? YC Ryven,
Another great idea and appreciate your initiative. I was looking into the creation of something similar to the BlackCard for DGB also. Is this something similar?
If not, how do we get a DGB debit card? I am open to contacting Xapo.
YC
It's not a debit card. It's more like a promissory note. Prypto holds the DGB (the 1,000,000-ish required you see there at the bottom) and issues cards with two codes printed on them. One code is open-air and and can be used to verify the card has not yet been redeemed. The other code requires scratching and is necessary to redeem the card. You go to CryptoScratchCards.com, enter the two codes and your wallet address and the coins are deposited in your wallet. I think you'd have to go to Xapo for a proper debit card. |
|
|
|
|
vectisitch
Legendary
Offline
Activity: 1927
Merit: 1004
|
|
June 19, 2014, 05:03:54 PM |
|
it seems to me that very few people are trading this. thats why the price is stationary. everyone is holding great sums of dgb??? if the price is to rise then we need to start trading with it yes???
|
|
|
|
|
Ryven Cedrylle
Member
Offline
Activity: 75
Merit: 10
|
|
June 19, 2014, 05:34:48 PM
Last edit: June 19, 2014, 05:48:05 PM by Ryven Cedrylle |
|
Ryven,
What is the security of the platform providing the "note"? What if they go down under? Are the DGB lost?
YC
I checked with Prypto how to answer this question and I will give you a direct quote. "We guarantee the coins that are associated to the cards, as in if something was to happen all validated cards will be honoured! We don't discuss our security for obvious reasons, as you attract abuse." To that I'll add that each card has a validation code that can be checked by anyone who can see the card to determine whether the coin is still associated or not, so you can know the coin is there before you buy it. The withdraws are all automated so as long as the API is functioning, coins will be redeemed. I hope that answers your question. edit: I should probably explain the validation bit too, shouldn't I? OK. All cards are physically shipped in an inactive or invalid state. If someone were to abscond with the cards between when Prypto sends them out and when I get them, it does no good. The cards will refuse to be redeemed. I as the reseller have to go in and activate each card I receive so that it will be redeemable. I will activate cards I sell to a retail facility after the sale since I don't have the ability to watch each transaction. Were I to sell all the cards personally, I would leave them all inactive until after the sale was made. |
|
|
|
|
|
ycagel
|
|
June 19, 2014, 07:37:06 PM |
|
What's the turnaround time to create? What value do you see this serve for the current community? Is there other low hanging fruit that would give a bigger boost? Not suggesting it's a bad idea. Just want to know your thinking. YC Ryven,
What is the security of the platform providing the "note"? What if they go down under? Are the DGB lost?
YC
I checked with Prypto how to answer this question and I will give you a direct quote. "We guarantee the coins that are associated to the cards, as in if something was to happen all validated cards will be honoured! We don't discuss our security for obvious reasons, as you attract abuse." To that I'll add that each card has a validation code that can be checked by anyone who can see the card to determine whether the coin is still associated or not, so you can know the coin is there before you buy it. The withdraws are all automated so as long as the API is functioning, coins will be redeemed. I hope that answers your question. edit: I should probably explain the validation bit too, shouldn't I? OK. All cards are physically shipped in an inactive or invalid state. If someone were to abscond with the cards between when Prypto sends them out and when I get them, it does no good. The cards will refuse to be redeemed. I as the reseller have to go in and activate each card I receive so that it will be redeemable. I will activate cards I sell to a retail facility after the sale since I don't have the ability to watch each transaction. Were I to sell all the cards personally, I would leave them all inactive until after the sale was made. |
|
|
|
|
Ryven Cedrylle
Member
Offline
Activity: 75
Merit: 10
|
|
June 19, 2014, 08:39:51 PM |
|
Deep breath...
My thinking is that if the dev team has agreements with vendors in LA to take DGB, we need to be able to make sure people can actually buy DGB to use, specifically in LA. It's a bit of the chicken-and-egg paradox; vendors want customers with coins before they accept, customers want vendors who take coins before they buy. The process of buying DGB (or really most any crypto) is entirely too convoluted and weird for mainstream use. In order to get BTC, I probably have to deposit money in someone else's bank account or send a wire transfer or something and why the heck would I do that if PayPal or my Mastercard works just as well? Not to mention that I now have to transfer BTC to an exchange, trade it for DGB and then get it back. That will take me hours if not the better part of a day.
I was in Cleveland a few weeks back and visited their Bitcoin Avenue just to see what was up. Walked into one of the stores and asked about business. No Bitcoins. They were ready to take Bitcoin, but no one was spending. I had some doge on me and wanted to convert to BTC to use in the store but their Wi-fi sucked and I couldn't get to Mintpal to trade so I ended up using my bank card having specifically gone there to spend crypto. Some of that is the store's problem, obviously and I was also trying to talk them into doge at the same time so had I converted to BTC prior it wouldn't have been as big of a deal, but you can still see where these bottlenecks show up regardless.
A lot of this changes if your coin is available at Target or whatever - even just a comics store. I see my wife's hairdresser is offering $5 off if you pay in DigiByte (don't laugh - there's a salon here in Chapel Hill that does Bitcoin discounts). Awesome. Pick up my groceries, grab a 100 DGB card (optimism!) and off I go; I'll redeem it when I get there. Heck, maybe I won't even do that. Maybe the cost of her highlights plus tip is close enough to 100 DGB that I just hand the stylist the card unredeemed. Now it's cash and cash is still king when it comes to anonymity (at least for now anyway). My wife - who knows less about computers than I do (which isn't all that much, really) is NEVER going to touch your coin if she has to go through anything more than a checkout lane to get it.
You can make the case that we don't want mass acceptance, we're not ready for it yet, my wife's isn't your target audience, etc. I don't necessarily disagree but it doesn't change the fact that the barrier to entry is still nuts. You have to really WANT to use crypto and if no one guides you into the crypto world, the walls around the city might be enough to suggest you walk away. A scratchcard is friendly. You feel like you won something and the redemption process isn't a chore. It's exciting.
That's all in the future (though it doesn't hurt to keep the long-term in mind). How do these cards help DGB today? One, they can help support value. A straight fiat to DGB conversion shakes us loose from BTC and helps set a working value floor for the coin. Fiat to DGB electronically is another low-hanging fruit that will help as well. Two, they can be distributed in person which is super important if you're working in a central geographical area. Jared can hand a potential partner a business card and 1000 DGB in the same move, no wallets or whatever required. Corollary point, it can be used to track interest. I can tell when a card I sell or give away is redeemed. If I know which card went to which person, I can gauge interest. Did the card get redeemed in an hour? In a day? In three days? Is it still sitting there? Three, it looks good in the crypto community. Important coins have Prypto lines - Bitcoin, Litecoin, (Dogecoin), Worldcoin. It's not just an exchange that will accept whoever. It signals to the rest of the community you mean business. You're going to run with the big dogs. Also, if Jared doesn't want all thousand cards maybe some of the rest of us could do something with them. We're always asking ourselves "who do we know? How can we help?" These cards help us all represent DGB in meatspace. They look good. They're tangible. They're professional.
So thats my spiel. Turnaround time for the first batch is I think three weeks but then shorter after that.
|
|
|
|
|
sammy007
Legendary
Offline
Activity: 1904
Merit: 1003
|
|
June 20, 2014, 05:47:49 AM |
|
Deep breath...
My thinking is that if the dev team has agreements with vendors in LA to take DGB, we need to be able to make sure people can actually buy DGB to use, specifically in LA. It's a bit of the chicken-and-egg paradox; vendors want customers with coins before they accept, customers want vendors who take coins before they buy. The process of buying DGB (or really most any crypto) is entirely too convoluted and weird for mainstream use. In order to get BTC, I probably have to deposit money in someone else's bank account or send a wire transfer or something and why the heck would I do that if PayPal or my Mastercard works just as well? Not to mention that I now have to transfer BTC to an exchange, trade it for DGB and then get it back. That will take me hours if not the better part of a day.
SKIPPED
Why not apply to http://coinkite.com |
|
|
|
|
|
CryptoLTD
|
|
June 20, 2014, 06:39:15 AM |
|
Deep breath...
My thinking is that if the dev team has agreements with vendors in LA to take DGB, we need to be able to make sure people can actually buy DGB to use, specifically in LA. It's a bit of the chicken-and-egg paradox; vendors want customers with coins before they accept, customers want vendors who take coins before they buy. The process of buying DGB (or really most any crypto) is entirely too convoluted and weird for mainstream use. In order to get BTC, I probably have to deposit money in someone else's bank account or send a wire transfer or something and why the heck would I do that if PayPal or my Mastercard works just as well? Not to mention that I now have to transfer BTC to an exchange, trade it for DGB and then get it back. That will take me hours if not the better part of a day.
SKIPPED
Why not apply to http://coinkite.comThey charge like 800 USD per device to use ( for the merchant ), I dont forsee that concept going anywhere soon. |
|
|
|
|
|
tdcooper99
|
|
June 20, 2014, 06:46:20 AM |
|
The process of buying DGB (or really most any crypto) is entirely too convoluted and weird for mainstream use. In order to get BTC, I probably have to deposit money in someone else's bank account or send a wire transfer or something and why the heck would I do that if PayPal or my Mastercard works just as well? Not to mention that I now have to transfer BTC to an exchange, trade it for DGB and then get it back. That will take me hours if not the better part of a day.
I just finally managed to get my father-in-law to stop thinking that anything involving Bitcoin is slightly shady and therefore worthy of avoidance. It's helped of course that every day there are more and more positive stories in the news around it, rather than the latest arrest, scam, theft of or drug deal etc. So I was able to engage him in a conversation around Crypto's and the Blockchain technology in general. I had him to the point of actually wanting to buy the DGB.... and he asked me how he could do this. And there's where I lost him. It's exactly as Ryven pointed out above... for him to do it on his own (even with my help, and believe me I offered, but he's independent) involves too many steps at the moment. He's in Vancouver, and I did point out that if he didn't want to wire funds to an online exchange to buy BTC first, he could go to one of the 3 BTC ATM's in Vancouver... but even then, it's kind of more complicated as he then has to import that paper wallet onto an exchange and carry on from there. Of course, easy for us... but not so easy for many. I told him he could actually skip all that if he just wanted to have a few DGB to feel involved, and to worry about the rest later. I told him to download the wallet, let it sync up and I'd send him a few thousand to start him off. I even told him I'd put a message out on this board and that I had no doubt the community might even throw a couple hundred his way to get him into the spirit of things. But, to date, he's just not bothered... but I'm seeing him in a few weeks so maybe I can walk him through it all in person and get him fired up again. The point? If the above is a TLDR... then the point is this. The easier it is the get them and spend them.... the more "normal" people will get involved. |
|
|
|
|
DigiByte (OP)
Legendary
Offline
Activity: 1722
Merit: 1051
Official DigiByte Account
|
|
June 20, 2014, 06:47:02 AM |
|
We have successfully tested a DigiByte algorithm switch at a specific block & mined blocks on all 5 algorithms!
|
|
|
|
|
