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Author Topic: [DIG] DIGIT [X13] |Available For Takeover! |  (Read 77528 times)
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DSF
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May 06, 2014, 10:36:49 AM
 #1

     
     


| Announcements | Technical Details | Official Homepage | Social Media | Downloads | Exchanges | Useful Links | Bounties and Wallet Addresses |News - Articles - Information | Frequently asked questions? |



DSF Latest Announcements:

DSF is looking for a lead developer!

DSF has bought over 400 000 DIG from the exchanges so far!
We are giving it all away to our supporters who will either do a good advertisement or useful Github pulls for DIGIT! Contact us for an estimated reward for your contribution or any other questions.


What is DIGIT?

DIGIT is a unique hybrid proof-of-work, proof-of-stake cryptographic currency with a demand-dependent proof-of-work block reward and an investor awarding, dynamically variable monthly proof-of-stake reward.
DIGIT's approach to mining and staking  suggests that the supply will curve in a parallel manner with its popularity and demand. DIGIT's value over the mining period is projected to be far more stable than other crypto-currencies on the market.
DIGIT aims for maximum dispersion in early stages and maximum efficiency in late stages. We believe in long term stability and increase in popularity. We are confident that the Digit way to handle coin distribution is efficient and fair.

Digit's mining reward is variable, but not random.  It reacts to the market demand, but decreases in time.
More coins will be generated when the network hash rate and difficulty are high. Less coins will be generated when the hash rate and difficulty are low. The mining period lasts approximately one year. By the end of this period mining reward has decreased to its minimum and the Digit mining process will end. Once mining has ended, staking interest rate will start moving towards an eventual monthly base rate of 1% per month.


Who is DSF?

DSF is an abbreviation for Digit Support Foundation, an organization dedicated to support and develop the DIGIT cryptographic currency. In the future DSF will be officially registered as a non-profit organization and its only task will be to help and support making DIGIT the most stable and reliable payment instrument possible.


     



DIGIT Technical Details:

- X13 hashing algorithm PoW/PoS.
- 60 seconds block target.
- Difficulty adjusts every block.
- PoW reward decreasing multiplier.
- Difficulty adjustable PoW mining reward.
- Mining period of 1 year.
- Rising interest rate until mining has been replaced with staking.
- Interest periods of 30 days.
- Interest payout periods from 8 hours.
- 6 confirmations for transactions.
- 60 confirmations for mined blocks.
- Default ports: 11100 connection; 11101 RPC.
- Total coins limit will be set to 10-15 years after the mining period (detailed info in post#3 -FAQ).
- 1% from each PoW block to bounties/funds. 0.2% to Support Fund and 0.05% donations to science.


     



DIGIT Official Homepage:



     



Follow DSF on Social Media:




     



DIGIT Downloads:

Digit Windows Installer - 2.2.0
Digit Windows Zip - 2.2.0
Digit MacOSx App - 2.1.2
Digit Source Code in GitHub


     



DIGIT Exchanges:

https://www.allcoin.com/trade/dig_btc
https://cryptoine.com/trade/dig_btc
DIGIT Vote for CoinedUp (in reddit). Please leave a comment and vote up.
DIGIT vote for Poloniex.com
DIGIT vote for hitbtc.com


     



Useful Links:

Market Capitalization & Statistics:
http://www.cryptocoinrank.com/Digit


     



DIGIT Bounties and Wallet Addresses:

Android Wallet Fund: 25 000 DIG
[dYe3i7HJjnenTbAYFp3Vd1Mr9vfsLik2H7]
--------------------------------------------------
DIGIT - FIAT exchange (buy/sell Digit with FIAT currencies): 25 000 DIG [dEFWHcCjzcJUx99C5ckZ9dm8FtMWyk6Xxw]
--------------------------------------------------
CoinPayments (or some other major payment processor) Fund: 50 000 DIG [dNfpYGdLgxMzMWCDCUbfWEgTqzJE8KsR7J]
--------------------------------------------------
Dedicated block explorer with DIGIT custom template: 15 000 DIG [dFZfAqh2QR8i8yxw1gsG93NREvCWy6nUjG]
--------------------------------------------------

Github:

Bug fixes: 1 000 - 10 000 DIG
Minor tweaks: 1 000 - 5 000 DIG
Major tweaks: 3 000 - 10 000 DIG
Minor new features: 30 000 - 50 000 DIG
Major new features: 50 000 - 300 000 DIG


TBA:

Windows Mobile Wallet Fund
Iphone Mobile Wallet Fund


DSF Foundation Wallet address  is:
[dET9BNYodaSpjZ3suYkn8GNQ5N5T17vtGE]
--------------------------------------------------
DSF address for undistributed funds is:
[dQVNRMYk6TWy5jqNW18UqJXaNCkD1NxUt6]
--------------------------------------------------
DSF address for Github and PR bounties is
[dGJpZiYEi5XdDD95L5xqPg3WTh5fnfqoap]
--------------------------------------------------

This address contains DIGIT purchased from the exchanges.
Bounties will be dependent on the DIGIT market price.


     

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May 06, 2014, 10:40:28 AM
 #2

News:

27.06.2014   Digit vote for Poloniex.com begins
01.06.2014   Digit X13 launch!
13.05.2014   CoinedUp Voting Begins
10.05.2014   We are glad to announce the first Digit giveaway on our Reddit page! Get Your Free Digit!
10.05.2014   Digit Cryptocurrency Twitter, Facebook, Reddit accounts are up!


Articles:
 
11.06.2014   Digit - or don't - newfoundcoin.blogspot.com


DSF posts with useful information:

02.07.2014   DSF Statement: DIGIT will never be a get-rich-quick project:
https://bitcointalk.org/index.php?topic=597634.msg7640264#msg7640264
27.06.2014   About transparency and the list of upcoming features for the new wallet:
https://bitcointalk.org/index.php?topic=597634.msg7542783#msg7542783
26.06.2014   Github bounty system introduced:
https://bitcointalk.org/index.php?topic=597634.msg7515679#msg7515679
25.06.2014   Digit wallet v2.1.2 release:
https://bitcointalk.org/index.php?topic=597634.msg7513178#msg7513178











Post2 NEWS, links to articles.
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May 06, 2014, 10:40:44 AM
 #3

FAQ


Solo Mining configuration?:
Digit.conf example:
Code:
rpcuser=UsernameHere
rpcpassword=PasswordHere
rpcallowip=127.0.0.1
addnode=80.240.142.154

How PoW Works?

The Digit PoW block reward starts with a multiplier of 29.2. The multiplier decreases daily by 0.08 and will reach a value of 0.08 in about one year.
Difficulty is driven by the network hash rate
Block reward is calculated by multiplying difficulty with the daily multiplier.
Here is an example of the Digit PoW block reward if the last block difficulty was 15 and we are at 30 days since the launch.
Block reward = 26.8 x 15 = 402 DIG


How PoS Works?

Interest rate starts at 1% and increases each month by 1% until it reaches its peak of 12% by the end of the first year. Then, the mining will end and interest rate will start declining towards base rate of 1%.
Effective annual interest rate:
Year 1: 116%
Year 2: 91%
Year 3+: 13%


Total amount of DIG?

Digit proof of work block reward is calculated as follows:
Code:
nSubsidy = falling multiplier * proof of work difficulty * COIN;
The proof of work difficulty can be a minimum of 1 and the multiplier starts from 29.2. After approximately a year (at block 915000) Digit mining will stop.
We are aiming to hit the maximum amount of coins in 10-15 years down the line. 10 Years if the Digit money supply is high and the price of one Digit is low after the mining period. 15 Years, if the Digit money supply is low and the price of one Digit is high after the mining period. 11-14 years, if the Digit money supply and the price of one Digit is neither low or high after the mining period.
Because of Digit's variable proof of work reward, the amount of maximum coins is impossible to predict at this stage. This is why we will set this goal after Digit mining has ended.


How to keep my Digit wallet and balance  safe?

First step to keep your wallet safe is protect it against third party intrusion. You can do this by encrypting your wallet and protect your balance with safe password. Choose Settings --> Encrypt Wallet and enter your password. After pressing OK, your wallet will need to close for  encryption process. Please read and fully understand warning messages. Process will be finished in about 30 seconds and you can then re-open your wallet.
Protect against intrusion from outside your local network involves having decent antivirus software and have firewall enabled.
Second step to keep your Digit wallet balance safe is to back up your wallet. Choose secure place for backup. It can be USB drive or any other digital storage holder, which you can trust.
To back up your Digit, choose File --> Backup Wallet. Name your wallet backup as you like and save it to your safe location.
If anything happens to your original wallet files, you can easily download new wallet from Digit homepage and restore your balance with that saved file.
Remember. Digit does not have bank as a middleman to keep your funds safe. You are your own bank. Handle your Digit with care!


How do i get paid interest (stake) coins?

To be able to gain interest, your coins have to stay in your wallet for a minimum of 8 hours. If your wallet is encrypted, then you will have to unlock your wallet for staking. This can be done by choosing Settings --> Unlock Wallet and entering your password. The coins which are matured for staking move from your balance to your Stake balance and your wallet will show incoming transaction of interest coins. It will take around an hour for Digit central network to confirm your interest payment. After confirming process is finished, all of your DIG will move back to balance and start waiting for next interest payout.

There is no need to worry if your interest payout takes longer than few days or you are not able to run your wallet very often. Interest will accumulate offline and you will always be paid exactly as much as it is meant to be. You will not miss interest payment if you run your wallet once per 30 days.


How often do i need to run my wallet for interest coins?

Its is advised to run your wallet for minimum once per 30 days


How much is the interest rate?

Digit Interest rate is variable. Base interest rate is 1% per month. The rate will steadily rise during Digit one year mining period and decrease later time period, but it will never be less than base interest.


What is Digit Support Foundation?

DSF is an organisation created to support Digit distribution and development process. Together with community, DSF is helping to make Digit safe, stable and popular payment instrument.


How Digit price will be more stable than other coins?

If demand for Digit will rise, then price of Digit will rise.  Digit will be profitable to mine. Miners will switch to Digit. Difficulty goes up --> Block reward rises --> More Digit will be mined --> More Digit will be offered to markets --> Buy pressure will ease --> Price will return to previous position.

If demand for Digit will fall, then price of Digit will fall. Digit will be less profitable to mine. Miners will switch to more profitable coins. Difficulty goes down --> Block reward falls --> Less Digit will be mined --> Less digit will be offered to markets -->Sell pressure will ease --> Price will return to previous position.


How Interest staking will replace mining in future?

Mining reward will slowly decrease over time and interest rate will gradually increase during mining period. This leads to: less Digit will be mined and more digit will be created from interest until mining will completely cease.


How Digit avoids inflation after mining is ended?

After mining period is ended, Digit interest rate starts moving towards base interest until it reaches base of 1% per month. This results as 12% per year, if perfect 100% of Digit would gain interest.


How to restore balance from my wallet.dat file?

If you are using windows, then your wallet data folder is usually in users\<your_username>\appdata\roaming\Digit folder. You need to copy your wallet.dat to that folder and then open your wallet for sync process. Your full balance will be available once wallet is synced.
For quick open of wallet data folder you can press windows key + r and then copy paste %appdata%\Digit or type it manually.
If you are using Mac, then your Digit wallet data folder will be in  ~/Library/Application Support/Digit/
If you are using Linux, then your Digit wallet data folder will be in ~/.digit/ .


Having trouble with syncing? Here's what to do:

1. Back up your wallet.dat and Digit.conf files.
2. Close your Digit client
3. Delete everything except the wallet.dat and Digit.conf in your appdata/Digit folder.
4. open Digit.conf with any kind of text editor and replace the content with:
Code:
connect=80.240.142.154
listen=0
staking=0
This will allow your wallet to connect only to the Digit node, will refuse all incoming connections and disable staking during sync process.
5. Launch your Digit wallet and wait for it to sync fully.
The blockchain will check and orphan any transactions that do not belong in the main chain. You will not lose orphaned stakes as those will be staked again when your wallet is synced to the right chain and staking is enabled again.
6. Close your Digit wallet and replace appdata/Digit.conf with a backup. Then open your wallet again.

Post3 FAQ, Links to guides.
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May 06, 2014, 10:43:17 AM
 #4

We are looking forward to this and will have a pool for it!
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May 08, 2014, 08:46:12 AM
 #5

Wallets and source is up! We happily accept pools now.
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May 08, 2014, 09:04:18 AM
 #6

Wallet doesn't connect. Do you have any nodes?

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May 08, 2014, 09:05:01 AM
 #7

LIVE



MineP.it Digit Pool

Register now, if you haven't already done so, and prepare your workers get mining!

Stratum connection example:
stratum+tcp://dig.minep.it:3369 -u MinepitUsername.anything -p anything

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  • Rock solid security and stability
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  • Super fast compile times - we aim to be one of the first pools running at every launch

Sign up now!


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May 08, 2014, 09:07:38 AM
 #8

We are looking forward to this and will have a pool for it!
yes,i need a pool!
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May 08, 2014, 09:08:44 AM
 #9

Wallet doesn't connect. Do you have any nodes?

Static node in Digit.conf file.
OP updated with default conf code.
Thank you for reminding me.
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May 08, 2014, 09:28:11 AM
 #10

Wallet doesn't connect. Do you have any nodes?

Static node in Digit.conf file.
OP updated with default conf code.
Thank you for reminding me.

Thanks. Works now Smiley

This launch seems to have gone a bit unnoticed - maybe you should advertise it in the Subject? Just a suggestion.

https://www.minep.it - secure, stable mining pools | 0.75% fees | chat | forums | one login for 40+ pools | unique interface
Pools: Bitcoin | BitMark | ConspiracyCoin | CryptCoin | CureCoin | DarkCoin | Digit | DogeCoin | Dvorakoin | FeatherCoin | FractalCoin | Hiro | IsraelCoin | KarmaCoin | Kryptonite | LimeCoinX | Litecoin | MultiWalletCoin | Negotium | NewWorldOrder | OzzieCoin | PyramidsCoin | RootCoin | SaveCoin | Shade | SurvivorCoin | SysCoin | TalkCoin | TitCoin | Trinity | UseCoin | UtopiaCoin | VertCoin | ViaCoin | VirtualCoin | VirtualMiningCoin | WankCoin | WorldCoin | ZetaCoin
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May 08, 2014, 11:40:01 AM
 #11

Everything goes as expected. There are a lot of coins incoming every day. It is hard to get noticed.
Best will survive and we will do everything to be among the best.
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May 08, 2014, 01:35:02 PM
 #12

Liking wallet a lot. And the name as well.
Installer worked perfectly. Fast and easy.

Going to DIG in this nice coin!  Cheesy
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May 08, 2014, 02:47:20 PM
 #13

We will start giveaways and promoting campaigns soon.
Funds for it will come from first and second pot interest coins.
Ideas for giveaways are welcome. Twitter, Facebook, Reddit accounts are up as well.
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May 08, 2014, 03:40:24 PM
 #14

any other pools?
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May 08, 2014, 03:51:14 PM
 #15

any other pools?

Im soloing at the moment, since difficulty is still low. Hopefully can solo for few days at least, until it becomes lottery.
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May 08, 2014, 06:55:22 PM
 #16

Post #3 is updated with FAQ (questions which may rise).

Everyone is welcomed to suggest important info updates for FAQ.
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May 08, 2014, 07:41:17 PM
 #17


  • No registration required: Mine anonymously.
  • 1% mining fee



How to mine Digit with us

Step 1: Generate your Digit wallet address
Step 2: Point your miner to stratum+tcp://pool.mycryptoco.in:50020
Step 3: Username = Your wallet address, Password doesn't matter (e.g. x)
Step 4: As soon as the Digit Client allows us to send mined coins (~ 40 minutes) you'll get your DIG immediately


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May 08, 2014, 08:47:39 PM
 #18

Thank you. OP updated.
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May 08, 2014, 09:37:10 PM
 #19

Need one or two more pools
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May 08, 2014, 09:44:08 PM
 #20

cant seem to set the transaction fee in the windows wallet to 0.01 .. its getting reset to 0 ??

Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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