★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 809.

Jumbley

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Quote from: MaxDZ8 on July 17, 2015, 03:33:53 AM

Let me understand.
Some of you are speculating having multiple algos to select is causing the price to go down?
Did you fall down from your chair as a child?

I never mined DGB as long as it was scrypt-only and I had no interest in it.

It's not really speculation, I've been pointing the finger ever since I arrived here but was probably being very optimistic in believing that maybe we had a chance of attracting many many small home users with asics.
It is the asic part of the multiple algos and the fact that the little guy really has not got a chance against the power houses of mining farms in this area. This is certainly a battle that we will not win. I estimate that maybe as much as 20TH/s belongs to what I consider the true DigiByte community, anything above that are probably opportunists and I wouldn't say they had our best interests at heart.
1. They take the lion share of the asic rewards and normally control more than 51% of the algorithm they are mining on.
2. They ensure that DigiByte is not profitable when compared to Bitcoin or Litecoin by keeping the average asic mining level above a certain threshold also making it unlikely that we can attract any asic minning from little guys at home.
3. They deliberately dump the coins they have mined to keep DigiByte in check.

This picture does need some serious scrutiny for sure.

MaxDZ8

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Let me understand.
Some of you are speculating having multiple algos to select is causing the price to go down?
Did you fall down from your chair as a child?

I never mined DGB as long as it was scrypt-only and I had no interest in it.

Jumbley

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Activity: 1218

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Quote from: HR on July 17, 2015, 02:05:57 AM

Quote from: Soul_eater_123 on July 16, 2015, 04:09:56 PM

Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence.

After the euphoric phase, it's no coincidence that DGB has come back down to MYR levels. Being that they are both highly exposed to sha and scrypt, it's not only not surprising, it's to be expected if my thesis is correct that the issue is industrial sha and scrypt mining. Long term averages are what the are, and when you look at coinwarz AND PLUG IN REAL FIGURES, DGB and MYR are among the most profitble using sha and scrypt (MYR anyway - they still haven't upgraded DGB so you have to compare DGB with MYR on whattomine.com in the other algos since whattomine doesn't have sha - or just do it in your own).

BTW, it looks like Digitalcoin has gone multi algo too, so we have another canary in the coal mine to watch.

whattomine does have sha, you need to select ASIC from top of screen.

thsminer

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for eveyone's information: https://www.youtube.com/watch?v=jw28y81s7Wo

TamiLee

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Quote from: thsminer on July 17, 2015, 02:30:58 AM

Quote from: TamiLee on July 16, 2015, 04:57:13 PM

Quote from: Soul_eater_123 on July 16, 2015, 04:09:56 PM

Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only way to fight that is to eliminate SHA & SCRYPT and be prepared to keep changing the others (algorithms) every time a new one becomes ASIC mineable. This is not too hard to do, it just means committing to (potentially) regular hard forks although in practice since the development time for ASICs is quite long and costly it would not be that often.

Furthermore I personally think if this is done it would also make sense to revert to a single GPU/CPU algorithm. The multi-algorithm approach doesn't really bring enough advantages (IMO) for the added complexity and confusion it causes. I personally think that the switch to multi-algo has actually been detrimental to DGB - although it seemed like a good idea at the time. The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence. People like to know how much mining is costing them and this approach makes these calculations much more opaque and difficult to do.

The blocks times will not be as good as they are with multi-algo compared with single algo. I agree that reason price is low and will stay low is because of SHA and Scrypt multi pools but this will only be a issue for next 4 years. Also no point pumping price because it will be dumped back down again.

Right! the question is: what is the prime purpose, high pricing and gains or stability and usability. Its very easy to bring out a coin mine it pump it and let it die. But if the goal is long term usability you need supply. Otherwise the price will be a rollercoaster when adoption starts, the only investors you attract then are daytraders.
Everyone that invests in DGB invests in a coin that has a usage pupose, that said price is irrelevant at the moment. The more miners you attract the more security you bring to the chain so multialgo served that purpose. Sure security can be further improved by changing some parameters and probably will be changed. Price will level out to a point where supply and demand meet. That's a general market priciple that is often overruled by greed.

My only concern is from watching a video posted on guldencoin ANN where presenter says he expect 1000s of new currencies a day to be created and I just hope market doesn't get saturated to where currencies with lots of coins lose out. It's very easy to create coin but not easy to make coin useful and why I see many of same people buying DGB and NLG. I think the people with the brains are investing in these two coins while the rest are in for pump and dump trading.

thsminer

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Activity: 332

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Quote from: TamiLee on July 16, 2015, 04:57:13 PM

Quote from: Soul_eater_123 on July 16, 2015, 04:09:56 PM

Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only way to fight that is to eliminate SHA & SCRYPT and be prepared to keep changing the others (algorithms) every time a new one becomes ASIC mineable. This is not too hard to do, it just means committing to (potentially) regular hard forks although in practice since the development time for ASICs is quite long and costly it would not be that often.

Furthermore I personally think if this is done it would also make sense to revert to a single GPU/CPU algorithm. The multi-algorithm approach doesn't really bring enough advantages (IMO) for the added complexity and confusion it causes. I personally think that the switch to multi-algo has actually been detrimental to DGB - although it seemed like a good idea at the time. The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence. People like to know how much mining is costing them and this approach makes these calculations much more opaque and difficult to do.

The blocks times will not be as good as they are with multi-algo compared with single algo. I agree that reason price is low and will stay low is because of SHA and Scrypt multi pools but this will only be a issue for next 4 years. Also no point pumping price because it will be dumped back down again.

Right! the question is: what is the prime purpose, high pricing and gains or stability and usability. Its very easy to bring out a coin mine it pump it and let it die. But if the goal is long term usability you need supply. Otherwise the price will be a rollercoaster when adoption starts, the only investors you attract then are daytraders.
Everyone that invests in DGB invests in a coin that has a usage pupose, that said price is irrelevant at the moment. The more miners you attract the more security you bring to the chain so multialgo served that purpose. Sure security can be further improved by changing some parameters and probably will be changed. Price will level out to a point where supply and demand meet. That's a general market priciple that is often overruled by greed on the short term.

HR

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Quote from: Soul_eater_123 on July 16, 2015, 04:09:56 PM

Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence.

After the euphoric phase, it's no coincidence that DGB has come back down to MYR levels. Being that they are both highly exposed to sha and scrypt, it's not only not surprising, it's to be expected if my thesis is correct that the issue is industrial sha and scrypt mining. Long term averages are what the are, and when you look at coinwarz AND PLUG IN REAL FIGURES, DGB and MYR are among the most profitble using sha and scrypt (MYR anyway - they still haven't upgraded DGB so you have to compare DGB with MYR on whattomine.com in the other algos since whattomine doesn't have sha - or just do it in your own).

BTW, it looks like Digitalcoin has gone multi algo too, so we have another canary in the coal mine to watch.

Jumbley

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Quote from: EPLDCC on July 16, 2015, 04:08:09 PM

Quote from: Jumbley on July 16, 2015, 03:23:48 PM

qubit miners are the ones rubbing their hands together with glee,as it looks to me. I don't know, but maybe it could even be mined profitably using cloud services.

A few weeks ago I tried qubit ... just for fun. I didn't get nearly the same rewards as with my scrypt rig. But, I have a nice scrypt rig - so maybe I'm just spoiled.

I was thinking in terms of power use really.
http://www.whattomine.com/coins?utf8=%E2%9C%93&scryptf=true&factor[scrypt_hash_rate]=1000.0&factor[scrypt_power]=380.0&qk=true&factor[qk_hr]=15.34&factor[qk_p]=266.0&cha17f=true&factor[cha17_hr]=60.0&factor[cha17_p]=228&cha16f=true&factor[cha16_hr]=400.0&factor[cha16_p]=228&x11f=true&factor[x11_hr]=5600.0&factor[x11_p]=266.0&x13f=true&factor[x13_hr]=4000.0&factor[x13_p]=266.0&cn=true&factor[cn_hr]=640.0&factor[cn_p]=304.0&adapt=true&factor[cost]=0.1&commit=Calculate&sort=Profitability24&volume=&revenue=24h&keccakf=true&factor[keccak_hr]=480.0&factor[keccak_p]=304.0&grof=true&factor[gro_hr]=15.0&factor[gro_p]=228.0&wx=true&factor[wx_hr]=130&factor[wx_p]=228&ns=true&factor[ns_hr]=410&factor[ns_p]=228&lre=true&factor[lre_hr]=1150.0&factor[lre_p]=228.0&qb=true&factor[qb_hr]=16.85&factor[qb_p]=266.0

TamiLee

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Activity: 637

Merit: 500

Quote from: Soul_eater_123 on July 16, 2015, 04:09:56 PM

Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only way to fight that is to eliminate SHA & SCRYPT and be prepared to keep changing the others (algorithms) every time a new one becomes ASIC mineable. This is not too hard to do, it just means committing to (potentially) regular hard forks although in practice since the development time for ASICs is quite long and costly it would not be that often.

Furthermore I personally think if this is done it would also make sense to revert to a single GPU/CPU algorithm. The multi-algorithm approach doesn't really bring enough advantages (IMO) for the added complexity and confusion it causes. I personally think that the switch to multi-algo has actually been detrimental to DGB - although it seemed like a good idea at the time. The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence. People like to know how much mining is costing them and this approach makes these calculations much more opaque and difficult to do.

The blocks times will not be as good as they are with multi-algo compared with single algo. I agree that reason price is low and will stay low is because of SHA and Scrypt multi pools but this will only be a issue for next 4 years. Also no point pumping price because it will be dumped back down again.

plumptoiletduck

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Quote from: HR on July 16, 2015, 12:52:17 PM

Quote from: EPLDCC on July 15, 2015, 04:02:15 PM

Thanks to everyone who has already posted and sent messages regarding the DGB Gaming Wallet press release. The press release has been a very successful project.

I'm happy to announce that the press release was published today on CoinDesk: http://www.coindesk.com/press-releases/digital-currency-online-gaming-digibyte-wallet/

The people at CoinDesk were great - gracious, helpful, and supportive. Please show them some love by using those social media links (they add those to every press release). Share it, like it, etc..

I want to extend my personal thanks to everyone who contributed to the project: frottirzokni, 24hralttrade, benjamoyne, CryptoRaver, Eric, and 4 anonymous contributions. We have such a great DGB community. we raised over 700,000 DGB from community contributions, and I'm also happy to announce that we will be able to return approximately 25% of the contributions. The unused DGB will be divided proportionally based on the percent of your original contribution and returned (probably tomorrow or Friday at the latest).

We have lots to celebrate with all the good news and ongoing DGB development. Not only the press release for the DGB Gaming Wallet, but the upcoming video announcements, ongoing development, and exceptional community support for DigiByte.

Thanks to all of you.

Cheers,

Eric

That's one Bad Ass write up! Will the person who wrote that please stand up and take a bow?

And with all that DigiByte is, how in the world can it be trading at 26 SAT Huh

I think we'd better take a real good hard look at just who is capable of mining and selling at those levels and then addressing the issue as directly and decisively as possible (putting another feather in DGB's cap at the same time). Let's just do it. It's a real issue that must be addressed and the sooner the better.

Cheers, and, again, who wrote that?!?!?!?!

Great job!

I forgot to mention how professional the press release write up was. Thanks for doing such a wonderful job! (I suspect Eric).

Soul_eater_123

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Quote from: HR on July 16, 2015, 03:45:50 PM

Price will never be organic as long as the industrial miners are allowed to mine.

The only way to fight that is to eliminate SHA & SCRYPT and be prepared to keep changing the others (algorithms) every time a new one becomes ASIC mineable. This is not too hard to do, it just means committing to (potentially) regular hard forks although in practice since the development time for ASICs is quite long and costly it would not be that often.

Furthermore I personally think if this is done it would also make sense to revert to a single GPU/CPU algorithm. The multi-algorithm approach doesn't really bring enough advantages (IMO) for the added complexity and confusion it causes. I personally think that the switch to multi-algo has actually been detrimental to DGB - although it seemed like a good idea at the time. The only other coin that used multiple algos, MYRIAD, is basically dead and I don't think that is a coincidence. People like to know how much mining is costing them and this approach makes these calculations much more opaque and difficult to do.

EPLDCC

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Quote from: Jumbley on July 16, 2015, 03:23:48 PM

qubit miners are the ones rubbing their hands together with glee,as it looks to me. I don't know, but maybe it could even be mined profitably using cloud services.

A few weeks ago I tried qubit ... just for fun. I didn't get nearly the same rewards as with my scrypt rig. But, I have a nice scrypt rig - so maybe I'm just spoiled.

HR

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Quote from: Jumbley on July 16, 2015, 03:31:17 PM

Quote from: wlefever on July 16, 2015, 03:25:22 PM

Seems like much too large of a community to see the price down so low, no?

yes and no. Nobody is too keen to push the price up while so much dgb appears to be being dumped at market. We would rather buy up what is being dumped at silly prices, I guess.

Price will never be organic as long as the industrial miners are allowed to mine. It's the epitome of fact confirming theory- centralization doesn't work in a decentralized world.

Soul_eater_123

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Perhaps if DGB had some form of anonymous transactions it might help to raise it's profile, particularly if it used a different method to the current anonymous coins like DASH (still the worst name ever) or Monero.

HR

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Quote from: Jumbley on July 16, 2015, 03:23:48 PM

qubit miners are the ones rubbing their hands together with glee,as it looks to me. I don't know, but maybe it could even be mined profitably using cloud services.

The math doesn't lie. All the algos have extremely similar, to not say identical over the long term, mining returns. There's no difference.

The only people who are making money mining (and who are legit) are people with the kinds of mining costs that Icelanders have, and if your costs are next to zero and DGB is much more profitable than BTC, then you turn those miners on DGB.

http://www.zerohedge.com/news/2013-12-25/trip-through-bitcoin-mines

Jumbley

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Quote from: wlefever on July 16, 2015, 03:25:22 PM

Seems like much too large of a community to see the price down so low, no?

yes and no. Nobody is too keen to push the price up while so much dgb appears to be being dumped at market. We would rather buy up what is being dumped at silly prices, I guess.

wlefever

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Seems like much too large of a community to see the price down so low, no?

Jumbley

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qubit miners are the ones rubbing their hands together with glee,as it looks to me. I don't know, but maybe it could even be mined profitably using cloud services.

HR

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Quote from: MemberCount+1 on July 16, 2015, 01:14:47 PM

Quote from: HR on July 16, 2015, 12:52:17 PM

And with all that DigiByte is, how in the world can it be trading at 26 SAT Huh

Nobody is interested on digibytes, thats a fact. you can also generate all 21 billion in one step and distribute free of charge, that is the same as now. this would be more environmentally friendly.

If you were a circus clown.

MemberCount+1

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Quote from: HR on July 16, 2015, 12:52:17 PM

And with all that DigiByte is, how in the world can it be trading at 26 SAT Huh

Nobody is interested on digibytes, thats a fact. you can also generate all 21 billion in one step and distribute free of charge, that is the same as now. this would be more environmentally friendly.

Topic: ★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 809. (Read 3059029 times)