I see the price rise but I don't understand why. Isn't DigiByte just essentially Myriad with an added premine and instamine? They've been talking about this DigiSpeed hard fork for months now, but still no deadline, only delays. And they haven't even explained how it is exactly that their new hard fork will solve the scalability issue of Bitcoin. How will they encourage enough nodes to store a full copy of the blockchain? Sounds like the coin will become massively bloated.
Regarding the premine. It has all been given away already waaaay back.
The DigiSpeed hardfork + the DigiByteMarket are both parts of it. Another factor, we need to take into account, is that DigiByte remained relatively unknown amongst the crypto community. Now that it has seen additional volume and shot up on the coinmarketcap, we get more potential investors. And if DigiSpeed succeeds in its premise, the price should skyrocket. No coin, to my knowledge, has achieved to match VISA TPS (Transactoins-Per-Second) before.
How do we know they didn't give it away to themselves? Anyway, they have been making claims about DigiSpeed for months. Recently it's been on the news a lot that Bitcoin is not scalable enough and could handle only a fraction of the transactions that Visa handles. Since then DigiByte has been promising they will be able to match this with their DigiSpeed, but as far as I can see they haven't explained how.
For anyone who is interested, the blockchain and history tells the true story. DigiByte has had a 0% premine since March/ April of 2014 when the last of the 0.5% was spent on giveaways, marketing and development. Every DigiByte we currently have we have purchased on the market or mined.
There was no "instamine." We fairly pre-announced the launch date of Janurary 10th several days in advance along with the fact there would be a 0.5% premine to be given away and used to pay for the first series of mobile wallets and services. This can be seen in the first few pages of this thread. The premine giveaway was very effective at bringing thousands of new people in to DigiByte in the first couple of weeks.
On a separate, but related note, it's also worth reminding that 99.5% of all DigiByte mining is done in a decentralized manner.
We believe in DigiByte and have stated several times we are here for the long haul and we are committed to the long term vision and future off DigiByte. How many coins have come and gone since DigiByte launched? Thanks to everyone who supports and believes in DGB and a warm welcome to all the new DigiByte users on here!
As posted on the first page since day 1:
Pre-Mine Details:- 52.5 million DGB for giveaways over first two months to encourage adoption of DGB.
- Giveaway address will be publicly posted on website with a public record of all transactions in the block chain.
- 52.5 million DGB for development expenses to further DigiByte and help it become a mainstream currency.
- Development account address will be publicly posted on website with a public record of all transactions in the block chain.
- Our goal is to be transparent and accountable with the 0.5% pre-mine to ensure a bright future for DigiByte.
Pre-Mine Accounts:- Giveaway Account: DFsSa6kVoCyHK8ryZYDNX2fi5294kSuH2Q
- Initial Balance: 52,500,000.00 DGB
- Current Balance: 0 DGB
- Development Account: DQkqGjRqyfsmzFQ27tPK2PNJe7gPZUVm1U
- Initial Balance: 52,596,000.00 DGB
- Current Balance: 0 DGB
**Note: After the first 6 days of DigiByte's life over 44,105,165.259 million DigiBytes were dispersed from the giveaway account to merchants, developers, users and more in over 1500 Transactions to DigiByte Addresses! DigiByte Giveaways
DigiByte Reward Bounties
500,000 DGB to 1st 6 DigiByte Mining Pools (0/6 remaining) | 250,000 DGB Language Translations (0/18 remaining)
100,000 DGB to 1st 5 DigiByte Games/Faucets (0/5 remaining) | 200,000 DGB to first 15 merchants who accepting DigiByte (0/15 remaining)
