HR,
Thanks for sharing this. This puts a very unique perspective on things. As stated many times before, we are in this for the long haul!
Absolutely. Without a long term vision, the short termers will drag you down to the point where instead of slowly accumulating a long term investment, you sell what little you mine at a loss!
Glad you liked it!
Thank you HR it looks really promising.
Already seeing myself on the Bahama beaches with millions of Digibyte's to spend
What date exactly Digibyte turns 1 year?
Might want to organize something to get some more and more attention?
24
I'll be there to pay you a visit from time to time!
In the meantime, we've got a first birthday party to plan for January 10!
And you're right about organizing something to increase visibility. This should be our number one objective right now.
DGB is back on the map and being mined like crazy! This is the time! We're back on track and still in the "early adopter" phase (that should last long enough to really take DGB mainstream).
You know, when I look around, I don't see any crypto that's even close to DigiByte’s professional and proven Dev team, long term business plan and global vision, and algo change and mining production that’s literally rocking along – nobody’s even close to being positioned to develop a wide scale user base like DigiByte is. It’s not even close if you ask me.
Start point data was based on money supply and block reward as of today,
and the projections are based on the 0.5% block reward reduction every 10,080 blocks
and the assumption that the smoothed, long term block discovery rate equals current rates.
This has actually highlighted something that I have occasionally wondered but never got around to asking. As block rewards drop lower and lower, and indeed approach zero... who is going to bother mining? Without miners, who then verifies transactions? Perhaps at that point the distributed infrastructure exists simply to support the payment network? But... who owns it? Makes you wonder if at that point we come full circle with centralised control once again?
I took a closer look at the long term, and at current rates of production (a realistic projection), some 22 years from now, around 2036, block rewards will finally make it to 1 DGB. Who knows how much a loaf of bread will cost by then, but if we were to say for argument's sake that it costs the same, and if BTC were still only worth $500, and DGB only made it to the 1000:1 mark at 50¢, that would still translate into a whopping $1,440.00 a day, and with current diffs, would still be very profitable (hey, if a loaf of bread costs the same, then so would electricity, right?
). Being more realistic, we should throw in some sort of inflation into the mix, but it would be the same for all components, more or less, correct? The point is that as the block reward falls, the price will rise . . . unless we're talking about a dying (or already dead) coin, which DGB certainly is not. I put in a green area on that chart where I think it's highly likely to be one of the "kings of the hill", but that green area could extend forever - theoretically, block reward never gets to zero (and if and when it might be necessary, years and years from now, we could always to a switch to POW/PoS . . .). There are transaction fees to keep in mind as well.
To be sure, I think this thing's as solid as it gets, and to worry about the short term only diverts our attention away from what we should really be concentrating on, which is aggressively bringing new early adopters on board. We've got a couple of years to create a user base equaled by none, and I dare say that at this time we have ZERO competition and it's ours for the doing.
Does the current dependency on BTC prices have any impact on this chart? For example, you may be attaining double the value if you purchase DGB at 15 satoshi and BTC is at $470 and it rises to 20 satoshi and BTC is at $550.
Just curious.
YC
None what-so-ever YC. It's only about block reward and money supply, and some personal, well informed (if I don't say so myself) observations.
Price is completely independent. It could go up, network hashrate and diff could go up too, let's say to a million miners just to be gregarious, and the blocks discovered and DGB mined would be the same. What could cause a million miners to get on DGB? An incredibly rising price, of course, but that's something I don't predict in the short term by any means, and a subject for another day, which I do expect to address as soon as I have the time to properly do so.
BOTTOM LINE: DGB is back on track and ticking like a fine tuned watch.
It's time to get the word out, and people will thank you for doing so.
We're working with a long term winner that's still in the early adoption phase
(and will continue to be for enough time for more than we'd ever imagined to get on board).
Oh, and while it's cheaper to just buy DGB with fiat, why bother renting hash (or investing in hardware)? But that's for another day too.
