[DGC] Digitalcoin 3.0 | Multi-algorithm, Improved Blockchain Storage | RELEASED!

[Tsquared]

I received a pm from t^2 via the digitalcoin forum asking me to return to the forum. The price of DGC has gone up recently.

But as with any good enterprise, the internal values must be right to succeed longterm. I don't see this to be the case when looking at DGC right now.

After the former developer screwed over his own community some changes were made to save the coin. The decision to go multi-algorithm was great, and technically well implemented. So, what's wrong? Lowering the number of coins created a second time was a measure driven by fear and shear panic. It disadvantages current and future miners and was done to protect early miners and main stakeholders.

Due to everything that happened (the Baritus clusterfuck & the CryptoAve failure, Bitcoin crashing, centralization issues, the scrypt mining crisis etc) DGC has lost a lot of its former userbase. Why would anyone choose DGC over any other alternative cryptocurrency or even Bitcoin, for that matter? What is it that distinguishes DGC from other coins, if it's not for its internal values (vision/mission/democratic approach)?

Transparency and real criticism are needed, not 20 more posts of the same few people cheering. Mainly, it will be close to impossible to regain credibility after changing the rules to the game while playing it. Only if you are willing to do that, would I be willing to come back, start from scratch, and support the project. Meanwhile, enjoy your shortterm success.

I didn't ask you to come back, I said "Would be nice to have you around again." But I guess that's semantics. In any case, my personal expression, which wasn't prompted or suggested by anyone else, still stands, but most of us have gotten over the past and are prepared to move forward. It would be nice to have some sound reasonable opinions regarding best practices going forward, but I don't think we'll be starting from scratch anytime soon.

I will clarify one thing though, we began discussing block reward changes in late August 2014. From day one the discussion was 100% transparent and open to the public. Polls were posted on multiple forums before the end of October. The topic was discussed at length and the hard fork happened in December. I would not classify the decision as one "driven by fear and shear panic". Nonetheless, does this sound familiar?:

Perhaps lowering the overall coins and making DGC a bit more scarce isn't the worst that could happen. I just don't know how future miners would think about it, perhaps thinking early adopters/miners had over-proportional advantages. Then again, early miners or adopters had a much greater risk...
(https://forum.digitalcoin.co/threads/1508-DigitalCoin-3-0-Proposal?p=25550&viewfull=1#post25550)

Good decisions, bad decisions, whatever. It's time to move forward and I look forward to reading more of your opinions.

TT

[SimonTower]

The online wallet at IRC is working again with some new features.

Let's prepare to the next wave at BTC38.

[zombie007]

sup' here?

[Tsquared]

New updated Digitalcoin ANN located here:

https://bitcointalk.org/index.php?topic=1127380.0

[Digitalcoin Foundation]

This topic can be closed. Official thread and further updates here:

https://bitcointalk.org/index.php?topic=1127380.0

[CapeTownMinter]

BTCacked I love Digital Coin

Mining DC with my Pc

[disclaimer201]

CURRENT STATE
I looked at the cryptsy long-time chart for DGC and it looks like DGC has taken one last heartbeat in June. Apart from that, take a look at the chart yourself: "beeeeeeeeeeeeeeeep"

I checked if DGC was mined at all in the past months by Multipool and no surprise here, it wasn't and shows zero profitability at scrypt statistics.

MULTIPOOL AND MINING IN GENERAL
I am no longer certain if it was so horrible a deal for DGC to be mined by Multipools, many smaller coins have survived it. People still talk about those coins and some may even hold them, but strangely enough - they are still mined and traded!

All of these new coins and scams around have made me continue holding BTC exclusively and rigorously sell all other coins I get. I have now been doing so for the past 12 months. Multipool's sha256 multiport doesn't include DGC, perhaps if it did and was profitable to mine, I would keep some! Does anyone still mine scyrpt? I sold all my gpu rigs and never bought into scrypt Asics. The risk was simply too high. What is even the point of scypt mining nowadays? (Honest question)

POPULARITY
I don't know how one could help DGC regain popularity. Sure, it's still sitting there at about 3100 satoshis. I could care less and I did move on a long time ago, but maybe it was wrong to lower the overall coin supply, it sure as hell hasn't helped to make DGC popular. Would think it's safe to say that now. If a coin is unprofitable it will need some popularity. DGC never had the hype except for at the very beginning, people liked it because of its logo and its promise of stability. Honestly, you can wait another year or two but I see no reason not to go back to the original DGC amount, leave the three mining algorithms if you think it helps. But does it? It will help deal with centralization as you select few holders of large DGC amounts will have less of the overall cake. There will be more left to current and future miners who will then lift the coin back up by creating a community.

PS: Starting new threads for DGC is not a way to regain popularity, I like the kenel thread and the original one even better -200+ pages!!, why not go back to that?

[Tsquared]

Really surprised multipools are not mining DGC. What do you think it is, one person with some heavy equipment?

It's absolutely not profitable for an average person with a couple miners because however it happens, the blocks go very fast for a while, then slow down to a crawl until the difficulty drops, then it evens out a little then the cycle repeats. I've seen 100 blocks in an hour, then an hour pause between blocks. I mine with 2 Scrypt ASICs, and don't know why I haven't shut them down yet because they yield virtually nothing.

You're right disclaimer201, the recent changes have not helped Digitalcoin. But maybe the larger problem is that most of the folks involved with those changes are not very involved anymore.

I think there needs to be more conversation about it, and I for one would love to hear more ideas on how to breathe some life into DGC. Not sure that reverting back to the original is exactly the solution, but a closer look at the fundamentals is certainly over due.

TT

[disclaimer201]

I WANT TO MINE AND SUPPORT DGC
Let's think a bit more about mining these days. I imagine many people sold their altcoins for BTC during the altcoin crisis and even BTC for cash during the big crash. The rules to the game were changed several times by changing the algorithm and reward and the game itself changed with scrypt Asics. Perhaps some of those changes had to be done.

However, many are starting from scratch now. I want to mine DGC with the equipment I have - sha256 antminers. Of course it must be at least halfway profitable to do so.

How is the overall coin distribution for DGC right now, like how many holders of DGC are there and how many of the 48 million coins do they have? How many wallets are active?

Not long ago I saw a speech by a German economist in Heidelberg who tried to explain why Germany is in excellent shape in regard to exports, particularly in car manufacturing  but has very little demand from within. German employees had close to no advantages and even income cuts for the past 10 years or more. He explained some of the major mistakes of the economic policies were due to the fact that a majority of people no longer parttakes in the economy because the profits from car manufacturing are no longer shared with them (to an increasing degree). This means that due to automation and tax cuts for the car makers the money just doesn't flow back to potential customers. Very simple really. If you were once a worker on a conveyor belt producing a car, you would often identify with the company and buy the cars you have produced yourself.

THE KEY TO SUCCESS IS ALL ABOUT (INNER) VALUES, VALUES, VALUES
Bitcoin created a community by the hope of monetary gains and an equal opportunity to get a part of the cake. If we want this to happen with DGC, some will have to lose a majority of their wealth again to attract a majority of new miners and followers. And no, small giveaways won't do here.

It is risky of course and you may just as well sell a chunk of your stash for 3000 satoshis right before you go back to say the original 200 million coins. Then DGC will cost much less perhaps but everyone starts from scratch. Or, you leave everything as is and wait for BTC to pick back up again maybe in a year from now to have some price gains- but you will not have a thriving community. And noone will use DGC for anything else but speculation. Think about it.

Lastly, the DGC forums should be revived and people should help each other with referrals for exchanges and work on ideas to make DGC useful and purposeful apart from speculation, in other words its original promise.

[mrbodz]

my multipool mines DGC quite often tbh so it is profitable but only at certain times.

Ahmed

[DigitalCurrencyConsultant]

I like DGC and usually look in the alts category to read new innovation

[Tsquared]

Not trying to be the Digitalcoin spokesman, but I think this post deserves a response.

How is the overall coin distribution for DGC right now, like how many holders of DGC are there and how many of the 48 million coins do they have? How many wallets are active?

Almost half is in the top 10 addresses, but pretty sure at least one is an exchange.

https://chainz.cryptoid.info/dgc/#!rich

...why Germany is in excellent shape in regard to exports, particularly in car manufacturing...

Maybe there are several reasons, one being good old fashioned deception?
http://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html
But point taken.

It is risky of course and you may just as well sell a chunk of your stash for 3000 satoshis right before you go back to say the original 200 million coins. Then DGC will cost much less perhaps but everyone starts from scratch. Or, you leave everything as is and wait for BTC to pick back up again maybe in a year from now to have some price gains- but you will not have a thriving community. And noone will use DGC for anything else but speculation. Think about it.

More than this needs to be done. I for one would support changing the reward back, but this alone will not get DGC into the hands of the average user if multipools and mining farms mine all the low diff DGC. Something more needs done to encourage independent mining and decentralization.

Lastly, the DGC forums should be revived and people should help each other with referrals for exchanges and work on ideas to make DGC useful and purposeful apart from speculation, in other words its original promise.

I agree completely, and would sincerely appreciate continuing this discussion there.
https://forum.digitalcoin.co

TT

[Tsquared]

Lastly, the DGC forums should be revived and people should help each other with referrals for exchanges and work on ideas to make DGC useful and purposeful apart from speculation, in other words its original promise.

I agree completely, and would sincerely appreciate continuing this discussion there.
https://forum.digitalcoin.co

TT

https://forum.digitalcoin.co/threads/1801-Digitalcoin-4-0-Proposal

Opinions welcome.

[cryptmebro]

Lastly, the DGC forums should be revived and people should help each other with referrals for exchanges and work on ideas to make DGC useful and purposeful apart from speculation, in other words its original promise.

I agree completely, and would sincerely appreciate continuing this discussion there.
https://forum.digitalcoin.co

TT

https://forum.digitalcoin.co/threads/1801-Digitalcoin-4-0-Proposal

Opinions welcome.

I dont have permission to access page.

[batesresearch]

Hey guys, Digitalcoin has been included in our new 20% off offer on all hosting orders.
Get your dedicated website hosting now at CryptoCloudHosting.org/order

[Tsquared]

Lastly, the DGC forums should be revived and people should help each other with referrals for exchanges and work on ideas to make DGC useful and purposeful apart from speculation, in other words its original promise.

I agree completely, and would sincerely appreciate continuing this discussion there.
https://forum.digitalcoin.co

TT

https://forum.digitalcoin.co/threads/1801-Digitalcoin-4-0-Proposal

Opinions welcome.

I dont have permission to access page.

Thanks. Should be viewable now.

TT

[disclaimer201]

I like that you are actually discussing this on the dgc forum. If DGC would have halved around this time anyway, 10 DGC is an interesting proposal. The step would definitely reinstate some trust. Regaining trust may lead to hope for the future, which will get me back to mining it for fun and who knows, some others as well.

[alt19]

Estimated DGC inflation or total supply over the next 10 years?

The information is needed for http://alt19.com/19/cryptocurrency.php

Thank you.

[r00tdude]

Is there a primer somewhere on setting up the digitalcoind for sha256? When I cloned the git and compiled, the algo is scrypt, not sha256. I'm sure it's something simple...

TIA!

[techbytes]

Is there a primer somewhere on setting up the digitalcoind for sha256? When I cloned the git and compiled, the algo is scrypt, not sha256. I'm sure it's something simple...

TIA!

Change the algo setting in digitalcoin.conf to SHA256.

-tb-