Topic: [ANN][DGC] Digitalcoin | Multi-algo & Masternodes | Established 2013 - page 24. (Read 523645 times)

Why is Baritus quitting DGC?

No wonder there's no leadership here to make some big decisions regarding the inflation and dilution.

Sad, DGC had good potential.

Sadly, here are the latest news from Baritus quitting the development of DGC and closing CryptoAve within 7 days.

http://digitalcoin.co/forums/index.php/topic,1261.msg9244.html#new


Hello,

As of this moment, I am passing on all lead development responsibilities to the Digitalcoin foundation (http://digitalcoin.foundation). I will no longer be developing the new versions, that responsibility will be up to the developers in the foundation. I am fully confident that the foundation will take DGC to new levels for all the community.

I will still be involved in the community in many other ways and will continue to host the website and forums.

Regards,
Baritus

http://digitalcoin.co/forums/index.php/topic,1262.msg9243.html#new

Hello,

After discussion with the major CryptoAve shareholders, other admins of payment processing services, and the admins of crypto exchanges, the CryptoAve project will undergo a major overhaul.

Currently, shareholders are not achieving any returns on their investment due to a lack of trading activity. I do not believe it is likely that the situation will change due to a multitude of factors, not least of which is the inability for us to offer USD trading to US citizens (which are the majority of traders).

CryptoAve.Com will cease to operate as an exchange on September 15th, 9:00 PM GMT. Please withdraw all your coins and make any share trades before then.

The CryptoAve software will then go into re-development to turn it into a licensed exchange system. We will offer an easy to use, secure, and tested exchange software for a licensing fee. Anyone will be able to get a copy and start an exchange in less than 15 minutes. The software will be capable of trading any coin with an RPC interface and will be modifiable for the rest.

The payment processing code will go into developing a payment processing module that can be added on to the exchange system.

The shareholders will divide profits based on ownership percentage.  10% of my 51% in shares will be dedicated to re-investment in DGC for the first year of operation.

Thank you for everything you've done to get CryptoAve where it is.

Regards,
Baritus

Just checking in here i sold my position a few months back nothing new here. But i still love the name of the coin!

Good luck guys.

And here's my analysis on DGC from last year - marked by another poster who actually marked my post to later laugh at me.

Nobody was making such outrageous calls last September [besides me] about any alt-coins, not even well known alts.  I was called insane many times for calls like these and saying things like the Bitcoin ETF is a guaranteed done deal and BTC would match gold in under 12 months, etc.

Obviously DGC didn't reach my $1 target but it hit $.74 which is something nobody on this planet expected to happen so soon.

And this is only the beginning but there will be thousands of alts next year [another prediction I also made last year when there were only 12 alts on earth] so reducing the supply is crucial in order to take maximum advantage of any uptick in demand. 

Look at the 2 current alts ran by bankers:  NAUT and MAX, both had massive reductions recently to their subsidies and max caps, preparing them for the coming rally.  Both ran by Wall Street bankers who understand economics. 

Like I said before, if this is done it should be done soon.  And for the record, I only hold ~10,000 DGC.

Best of Luck!

Fair enough then.

I am a real economist.

And excess supply is one of the major problems with most cryptos right now.  Lack of Adoption is the other.

It's hard to increase awareness and adoption but it's simple to do a "stock buyback", to cut the subsidy and Max cap.  

And it should be done ASAP before the next rush, to position DGC for optimal performance and ROI.

Cheers!

If you're trying to patronize me, then just stop responding. I could really care less, and nothing about economics is truly "simple".

I'm not disagreeing that supply is not an overall issue. What I'm disagreeing with is that supply is the fundamental issue that is driving the price down. I'm not going to argue any further about this because quite frankly its the same old thing from both of us. We're not going to convince each other than we're right, and its not productive in my mind to argue in front of everyone about which 2 schools of thought are more correct. The fact of the matter is that the supply argument is garbage if you have no outlet; and if you have too many coins its worthless to spend. I say we need to spend, Vlad says we need to cut. The only other thing I'll call out is that Vlad seriously called for a major cut on the coin production of Casinocoin and that went through. That coin has continued on the same pricing path that it had been on regardless of the generation rate cut. I do not see how reducing the generation rate is going to fix the problem that the coins are too abundant right now. If the idea is to fix it in the future, that's a great plan if the coin had some value currently so that it was worth something in the future as well. This doesn't just go for DGC here; this argument could be made for anything including Bitcoin if we wanted to sit around the table and debate stupid equations.

No business culture = No adoption = Gutter-trash

That's really the point I'm making here is that we have 0 businessmen leading us and right now we are guessing at what to do. If you want to save DGC or any of the cryptos that you like then find a real economist to analyses the problem. IF they think that supply is really the issue then chop it up and be done with it, but inaction is not helping anyone.

And let's not forget I did an analysis on DGC where I said it would hit $1 within 12 months.  At the time it was trading at 1/10 of 1 penny.  It hit $.74 which isn't a dollar but it's still close.  I was called insane for that call.

Kill the inflation now before demand picks up and you'll see a much bigger rise in value later this year.  The price will pick up and all those miners will come back.

The more I think about it the more I'm inclined to agree with Vlad, maybe we just need to cut the DGC supply right back for a bit even if DGC lose some miners in the process. The community can still provide a solid part of the hashrate though Scrypt ASICS etc to main the blockchain. Otherwise the price will struggle to come back up which is what we need if we want to make DGC more attractive to the commerce sector. Stores are not going to touch us if DGC is worthless. Also its not like you can't make re-adjustments to the mintrate again anyway if need be.

DGC has been around long enough too to say any such action is a ponzi scheme because the current entry price is ridiculously cheap and alot of investors like myself who bought alot of DGC at much higher prices last year have already lost substantial amounts of money if we sold up now.

Vlad might have said some crazy stuff in the past but also can make some very good calls. I remember him calling BTC to $1000+ when it was around $100 or so and everyone laughed including me. How wrong we were lol.

Very good point. As well as many others I've seen expressed. I think what's kind of turning this whole conversation sour is the sarcasm from everyone. Lots of good points being made, but being taken the wrong way. Just a thought.

Thank God for simple math equations which tell you exactly what's needed to increase the value of a currency. 

Yes, even a crypto currency.

Here it is, free of charge [this time].

Currency Value = Transaction Volume/Velocity + 1/Supply

Look at that, it doesn't get easier than that.  And yes, you need to increase services which then increases the Transactions volume but look at the denominator where it says, supply;  AMAZING, if you decrease that number the value of the currency increases as soon as demand or tx volume increases.

Now which variable is the easiest and cheapest to control in that equation; getting everyone to use DGC or changing one line of code?  This is not a trick question. 

How about doing that now (lowering the denominator - the supply) since it's free to do and will have a massive impact later on?  I know, genius idea!

So while the devs work on increasing the transaction volume (mass adoption) why not ALSO kill the inflation/supply which, if ignored, will absolutely limit any real future upside potential this coin has.

Amazing eh, doing two things at once for optimal results?  haha!

You're welcome!

I love your posts! You are absolutely right Freenhult. Creating an economy and/or integrating with existing economy, is the ultimate objective, and Digitalcoin is in an excellent position to do both. Realistically, for commercial use, and especially for larger scale commercial use, any coin must be secure and dependable. Rest assured that there are efforts in progress to both create new business and integrate with existing business, which is why much of this discussion started.

Say what you will about baritus, but he's done a good job with Digitalcoin. This doesn't mean that there is not room for adjustments and/or improvements. I think sometimes we worry too much about the speculative value that improvements might bring, and lose site of the longer term objectives, but other things are happening. Everyone is pretty tired of public share sales and hollow hype, so you may not hear much until things materialize. Stay tuned.

TT

QFMFT!

Agreed. We need more services. Some of the other fundamentals could be changed though to make the coin more interesting to miners.

Absolutely false statement.  Cryptos are digital currencies and besides their lack of physicality and the fact the blockchain greatly empowers the state, cryptos are identical to real paper fiat.  They function by the same laws of finance, money and economics.

I've been saying it and I'll keep saying it. If you want people to keep the coin off the exchanges, then find a way to spend the coin. Market outlets like stores are the solution. I'm just baffled at the discussion going here. If I go outside and find some gold rocks, and I give them to people and say they're valuable, then they're valuable. If I keep digging up more of the same rocks, and so can everyone else, their value goes down. If we find a way to spend the rocks to a 3rd party who can't dig up the rocks, then their value goes up. This is BASIC ECONOMICS and I don't know why we're ignoring principals here.

If ANY of you want the value to go up, get this coin listed on a real good store page. If we can't find a decision then I'm going to dump this coin and completely back-out with over 50,000 dgc. I can't support this idiocy anymore. I'm absolutely distraught that we can't see what the hell to do here. If you seriously think changing the generation rate is going to give the coin value, then you're delusional. You can't give value to something that's worthless to begin with, and it's worthless because you can't SPEND it.

Cryptos are different than real money.  Yes, 70 percent probably is extreme, for dgc.

70% per year inflation?

In the real world that's called destructive hyper inflation which will destroy the underlying currency while making the rich richer.

Why bother cutting the subsidy if you're just gonna go to an even bigger elite favored subsidy?  That's Worse than the dollar.

10% is plenty inflation - but I'm a small holder so in the end it won't matter much to me.

Cheers!

Block reward should be 8 with 45 second blocks and 70 percent per year is the magic number. Minimum age should be 3 days. It doesnt feel good having to wait 10+ days for a reward.

There are lots of coins using pure PoS right now.  Like NAUT, Dark and quite a few other alts which used an ultra short PoW phase.