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

[CryptoLTD]

I've got to agree on the no to x11.

[Kayahoga]

I would also agree to having Groestl over X11. Honestly, I feel like a lot of miners don't really know about Groestl or the benefits of it. The coins that actually use it aren't that profitable so there is no reason for them to use it.  We could give them a reason to change =). 

As for Qubit, we used to have to worry about botnets so people stayed away from the CPU algos but as tablets and smartphones take over more and more of the market, PCs are quickly losing market share which also reduces the footprint of botnets. 


One thing I worry about is the profit switching multipools.  I am not worried about a 51% attack due to all the algorithms but I do worry about them just jumping in and dumping the coin to market.  I know there isn't much we can do about that but it creates a lot of sell pressure which can be hard to combat.  Look at vertcoin, technically innovative but since there are so few scrypt-n coins the multipools just mine and dump the crap out of it and the sell pressure just destroyed the coin.  Maybe their switch to the Lyra2 algo will help.


Sha256 - multipool exists
Scrypt - multipool exists
Skein - I am not aware that multipools exists...yet
Qubit - botnets
Groestl - I am not aware that a multipool exists..yet
Keccak - I am not aware that multipools exists...yet
x11 - multipools exist

So, I guess in the end, I just worry that the algorithms we choose will just immediately get added to the multipools and digibyte will just get dumped and create too much sell pressure.  Id like to hear some feedback on this, its a huge issue every cryptocoin faces.



The other issue too is the FPGAs that are being made.  There are some reports that a few Chinese manufactures have arrays for x11 already.  I have confirmed that several university's have each individual algorithm of x11 implemented separately but they aren't "optimized" and are used more to test the efficiency of the algorithm for the competitions. 


Here is a link to hardware performance evaluations for the aglos mentioned above ( this is all way above my head ) .

http://eprint.iacr.org/2010/010.pdf

[Kayahoga]

In my research for my previous post I came across this article for Myriadcoin.

Myriadcoin announce Multi-Algo Merged Mining Auto-Exchanging Multi-Pool
http://coinjoint.info/myriadcoin-release-mammmp/


I know we keep piling more work on for the devs but I feel like if we went with this  ‘Multi-Algo Merged Mining Auto-Exchanging Multi-Pool’ approach it would be well worth it to go with the more popular algorithms.  

Here is a blurb from the article.  

"What makes the release of MAMM[AE]MP so special is the merged mining which allows shares to be ‘recycled’. Shares that are unsuccessful in finding a Myriadcoin block will then be sent on to other coins. The means the hashpower can be reused without affecting the amount used mining Myriadcoin. Any mined coins can then be optionally auto-sold for Myriad meaning an overall increase in mining efficiency whilst putting upward pressure on prices."

This to me is fascinating and would be worth going with the other more popular algos ( ie...x11 over groestl for instance, then the spare x11 shares could be checked against all the other x11 coins ) .   Since Digibyte is setting up the pool, perhaps this would be an additional feature that could be added?


Here is the release statement https://docs.google.com/document/d/1R78lUtwnVB9o0CZpYnxWDSyZP-adgfcN4yfu1PM8jzQ/edit?pli=1

I understand the hesitation people have with merge mining but I feel that with this approach it would be possible to create a lot of upward buy pressure for DGB while not hurting the block chain.

[HR]

My thinking is that as long as profitability is defined by ASIC technology, that’s going to be the defining determinant regarding price, and nothing else. And if the GPU were to set profitability (in the absence of ASIC) then price would be higher. The multi-pool is only an intermediary, and theoretically neutral.

That having been said, while I look upon the multi-pools as being benign, I don’t like the idea of merged mining at all.

 

I really like the Myriad combo though - that much I do know. 

[ycagel]

Might be worth keeping the algos from the initial testing and make sure they all work in the test environment.

YC

My thinking is that as long as profitability is defined by ASIC technology, that’s going to be the defining determinant regarding price, and nothing else. And if the GPU were to set profitability (in the absence of ASIC) then price would be higher. The multi-pool is only an intermediary, and theoretically neutral.

That having been said, while I look upon the multi-pools as being benign, I don’t like the idea of merged mining at all.

 

I really like the Myriad combo though - that much I do know. 

[benjamoyne]

http://www.cryptocoinsnews.com/news/cryptocurrency-trust-index-demands-developers/2014/07/27

http://www.coinssource.com/trust/

I think this is something Digibyte should seriously consider.

Would be a good advertisement for new investors.

[haggis]

I personally also dislike X11 because my GPUs produced a very high tone (heared it because of watercooling) which makes me feel they are near of explosion. Second is, I saw people on DRK pools with a hashrate equivalent of nearly 2000 R9 290 GPUs. That's a sign for me that either some persons have more efficient mining software or FPGAs or both.

However, for any irrational reason, people still love X11 (infact, they could just throttle their scrypt to half the performance and would have the same effect...anyway). So I would integrate it into DGB for the ones who want to use it. It doesn't hurt people on other algos so - who cares? It's everybodys freedom to choose his favourite algo and might be it the worst.

I don't know enough about Groestl, didn't mine it myself. Just heared by Jared it is relative difficult to implement into the pool software(?). Would it be possible to include it as 6th algo instead of replacing another one?

[ycagel]

This is pretty cool if its legit. Would be another way to provide a stamp of approval and show the full transparency of the owner and coin.

YC

http://www.cryptocoinsnews.com/news/cryptocurrency-trust-index-demands-developers/2014/07/27

http://www.coinssource.com/trust/

I think this is something Digibyte should seriously consider.

Would be a good advertisement for new investors.

[,./,./]

I was 2 weeks on holiday.

there are any special things happend the last two weeks?

[CryptoLTD]

I was 2 weeks on holiday.

there are any special things happend the last two weeks?

Nope, or the 2 weeks prior to that, or 2 weeks prior to that, or 2 weeks prior to that.

[ycagel]

Pretty active conversation and ongoing implementation of the multi algorithm for DGB, which will drive more of the mining community into the coin. I am sure there are other items going on behind the scene that will help DGB take it's share of the crypto market. All positive if you ask me!

YC

I was 2 weeks on holiday.

there are any special things happend the last two weeks?

[CryptoLTD]

Price drives mining, right now..its not profitable to mine..infact..it hasent been in at least a month. When it is, it just gets dumped, just like all alts. Sad but true, its cheaper to buy this than mine it.. and even then, no one is buying it. I feel a lil stuck.. have a bunch, and just keep seeing its value drop. That tells me, that there are no investors behind the sceens with NDA's. I can only imagine how un profitable it will be to mine this in 2 years, 5 yrs, 8 yrs, 15 yrs.. how long does mining go on for? 28 years? Just dis-heartened, every alt is down, because..well.. face it.. its just gambling. Dreams of being some world wide, mass adopted way of paying for things is lunacy. The price fluctuation are sometimes 50x of what any credit card fee could possibly ever be on some coins. Unless you have a ton of BTC to make markets do what you want..  its pointless.

[HR]

Price drives mining, right now..its not profitable to mine..infact..it hasent been in at least a month. When it is, it just gets dumped, just like all alts. Sad but true, its cheaper to buy this than mine it.. and even then, no one is buying it. I feel a lil stuck.. have a bunch, and just keep seeing its value drop. That tells me, that there are no investors behind the sceens with NDA's. I can only imagine how un profitable it will be to mine this in 2 years, 5 yrs, 8 yrs, 15 yrs.. how long does mining go on for? 28 years? Just dis-heartened, every alt is down, because..well.. face it.. its just gambling. Dreams of being some world wide, mass adopted way of paying for things is lunacy. The price fluctuation are sometimes 50x of what any credit card fee could possibly ever be on some coins. Unless you have a ton of BTC to make markets do what you want..  its pointless.

I agree with you on almost every point, but it could be worse:
https://bitcointalk.org/index.php?topic=408268.msg7936677#msg7936677
https://bitcointalk.org/index.php?topic=408268.msg7938747#msg7938747

At least DGB has been keeping its head above water.

I agree on almost every point, except your view on possible mass adoption. My view is that there WILL BE a handful of winners who do achieve mass adoption. The opposite is practically an impossibility. Someone WILL WIN BIG.

Who will that someone be? IMVHO it will be the people who focus on bringing the best core product possible to market (i.e., coin, wallet, and network) and everything else will fall into place.

Digibyte is one of my highest probability contenders.

And yes, again, I agree with you on almost everything, not everything, but almost everything, including the part about this being a dream, which it still is (there's a gigantic chasm between every idea and its realization, and there's still a very long ways to go).

[ycagel]

How much DGB do you have? I'll buy it from you for 20 satoshi!

YC

Price drives mining, right now..its not profitable to mine..infact..it hasent been in at least a month. When it is, it just gets dumped, just like all alts. Sad but true, its cheaper to buy this than mine it.. and even then, no one is buying it. I feel a lil stuck.. have a bunch, and just keep seeing its value drop. That tells me, that there are no investors behind the sceens with NDA's. I can only imagine how un profitable it will be to mine this in 2 years, 5 yrs, 8 yrs, 15 yrs.. how long does mining go on for? 28 years? Just dis-heartened, every alt is down, because..well.. face it.. its just gambling. Dreams of being some world wide, mass adopted way of paying for things is lunacy. The price fluctuation are sometimes 50x of what any credit card fee could possibly ever be on some coins. Unless you have a ton of BTC to make markets do what you want..  its pointless.

[CryptoLTD]

How much DGB do you have? I'll buy it from you for 20 satoshi!

YC

Price drives mining, right now..its not profitable to mine..infact..it hasent been in at least a month. When it is, it just gets dumped, just like all alts. Sad but true, its cheaper to buy this than mine it.. and even then, no one is buying it. I feel a lil stuck.. have a bunch, and just keep seeing its value drop. That tells me, that there are no investors behind the sceens with NDA's. I can only imagine how un profitable it will be to mine this in 2 years, 5 yrs, 8 yrs, 15 yrs.. how long does mining go on for? 28 years? Just dis-heartened, every alt is down, because..well.. face it.. its just gambling. Dreams of being some world wide, mass adopted way of paying for things is lunacy. The price fluctuation are sometimes 50x of what any credit card fee could possibly ever be on some coins. Unless you have a ton of BTC to make markets do what you want..  its pointless.

Are you high? I paid 80+ sat for this stuff.

[boon8]

is the coin dead?

[Kayahoga]

How much DGB do you have? I'll buy it from you for 20 satoshi!

YC

Price drives mining, right now..its not profitable to mine..infact..it hasent been in at least a month. When it is, it just gets dumped, just like all alts. Sad but true, its cheaper to buy this than mine it.. and even then, no one is buying it. I feel a lil stuck.. have a bunch, and just keep seeing its value drop. That tells me, that there are no investors behind the sceens with NDA's. I can only imagine how un profitable it will be to mine this in 2 years, 5 yrs, 8 yrs, 15 yrs.. how long does mining go on for? 28 years? Just dis-heartened, every alt is down, because..well.. face it.. its just gambling. Dreams of being some world wide, mass adopted way of paying for things is lunacy. The price fluctuation are sometimes 50x of what any credit card fee could possibly ever be on some coins. Unless you have a ton of BTC to make markets do what you want..  its pointless.

Are you high? I paid 80+ sat for this stuff.

Yeah, I got in at 80 as well but still holding, I feel that there will be an explosion coming once the new multi algo hits and there is more news about the brick and mortar plans.  I am just in a bad spot because all my funds are tied up on coins that if I cashed out id be taking a huge loss, so I am just sitting, waiting and hoping for a better day =).  I firmly believe that DGB will be one of the few that emerges through these rough times. 

[CryptoLTD]

Would have to be 130 sat to even be cost effective for the electricity. Never gonna happen.

[Kayahoga]

Would have to be 130 sat to even be cost effective for the electricity. Never gonna happen.

Hopefully once the multi-algo update gets released we can choose a cooler, less power hungry algo and still mine it while maintaining profitability.

[CryptoLTD]

Would have to be 130 sat to even be cost effective for the electricity. Never gonna happen.

Hopefully once the multi-algo update gets released we can choose a cooler, less power hungry algo and still mine it while maintaining profitability.

And everyone else will, and they will dump it. Thats the cycle. Alt coins are nothing but a vehicle to get BTC. There will never be any mass adpotion.  This is alt-coin mass adoption stuff is pure insanity. As I am realizing in the past days.