@Digibyte
Slow block problems
I think this needs to be sorted a.s.a.p.
At current rates block 145,000 will not kick in until late October, anyone transferring funds has to wait hours for the confirmations. Any new interest in the coin quickly diminishes when it becomes apparent the mining reward is next to zero and you have to wait hours for a block even in a pool.
The multialgo v 3.0.1 has generated a lot of interest, but this is diminishing and by the time we reach block 145,000 in October a lot of these people might have already forgotten about DGB.
The slow confirmations are also making it difficult for traders and speculators with the long waits to move funds in and out of exchanges. A combination of this, the reduction in interest and the slow rate of production has lead to the low trade volumes we are seeing.
Solving the problem
For the last week I have tried throwing a few 100 MH/s at the network in a variety of ways, building up and down slowly, short bursts, longer sustained periods etc. etc. The difficulty adjustments during this period made little sense, often decreasing as my hash increased or increasing as I reduced my hash rate. Also the increase in block production was also marginal. Can you post (or PM me) the cause of this problem? Do you know what caused it?
I think the problem is intrinsic to DIGIshield, originally I thought you may have coded a failsafe that prevented drastic reductions in difficulty which was why it was stuck oscillating at the higher difficulty ... I meant to go through your code line by line this weekend but never found the time. My main concern is that if there is an issue it is not carried over to V3.0.1.
Today I directed 5,000 MH/s at the network, which reduced the block times to c. 2 mins, but tailing off the hashrate did not reduce the difficulty... however based on this I imagine something in the region of 10 GH/s (10,000MH/s) would produce a 1 minute block time and if maintained would see us to block 145,000 in about a day and a half.
I think this is achievable through a collaborative effort, happy to direct my hash and rent a load extra if other people will help maintain the hashrate for a day and a half.
Current rental rates are roughly 0.4 BTC/GH/Day (also the amount you can earn if you didn't redirect your hash) ... so 10 GH for 1.5 days = 6 BTC... however if that returns the block rate to a block a minute, given a DGB value of 40 satoshis and a block size of 7,500 DGB ... the group should earn approx. 6.5 BTC in digibyte (A bargain if you believe in Digibyte!)
I would suggest organising a coordinated approach for Fri/Sat this week with the aim of hitting block 145,000 sometime on Sunday.
Anyone interested?
Great, yet expensive idea! Not many of us would be able to support you with our wallets, and that's where our problem lies.
I believe that at least when it comes to this issue, it falls on the development team to push out large amounts of MH/s, especially since they had previously siad they were going to.
6 BTC atm comes out to $3000~ dollars. That's a pretty deep price, but if it would give the coin the kindling it needs to light that 145000 block fire, it might be a necessity. The Digibyte created from the mining could then be given out over time to drum interest in DGB and to once again get miners on the coin.