The "rally" won’t last long. I think we’ll see some real chaos and panic in financial markets come the 4th quarter. Martin Armstrong is one of the foremost renowned cyclic analysts around and his Economic Confidence Model agrees with that timing. http://www.economicconfidencemodels.com/ http://www.armstrongeconomics.com/models/7219-2

The Chinese stock market has only begun to fall with an intermediate term 1st wave down. A huge sell-off it was, and the “bounce” will be strong as a result, but I wouldn’t bank on it getting back to anywhere near recent highs or on it lasting more than a few months. Europe is falling apart (as much as I personally hate to say so) and that’s going to heat up in the autumn as well. US markets are so overvalued that it’s only a matter of time and finding an excuse (which those first two items just mentioned will provide).

If you think QE in all its forms has been unbelievable, hold on to your hats!

And who are the lucky recipients of all that newly created fiat currency going to be? The same people who were on the receiving end of QE until now, of course (certainly not the little guy, like you and me). And what will they do with that money? Continue “reaching for yield”, of course. And what will that include? You tell me, but what with stocks, bonds, and fiat currencies all losing value, I’ll bet that a couple of dollars will find their way into cryptocurrencies. It’s already begun to happen. I’ve pointed it out in several places recently, most notable here: https://bt.irlbtc.com/view/1095434.0 The same has been reflected in recent news: https://bt.irlbtc.com/view/1100598.0

So, who gets all the free money?

How about these folks for starters:

Short list of the managers who will benefit from the “trickle up” new normal money management creation we will see.

BlackRock
Vanguard Group
State Street Global Advisors
Fidelity Investments  
J.P. Morgan Asset Mgmt.
BNY Mellon  
Capital Group
PIMCO
Deutsche Asset & Wealth
Goldman Sachs Group
Northern Trust Asset Mgmt.
TIAA-CREF
Prudential Financial
Wellington Mgmt.
NISA Investment
Legg Mason
Goldman Sachs Group
Manulife Asset Mgmt.
Geode Capital Mgmt.
Principal Global Investors
Legal & General Investment  

There will be a lot of money being “thrown around”. It’s not like anyone here expects billions to be thrown into cryptos (not in the short term anyway), not by any stretch of the imagination, and much less so in any one particular crypto (excepting BTC perhaps); however, there will certainly be millions, most likely hundreds of millions, short to medium term, destined for cryptocurrencies.

It’s not like anyone is thinking that we’re going to be able to get a direct interest in DGB either. The truth be said, none of these institutions, or their “smaller” brethren (the long list), take direct interest in anything of this sort. They prefer “baskets” of similar profile investments.

The idea is to get DGB included in those cryptocurrency investment “baskets”. My best estimate based on the money flow is that the large investors who have recently come into cryptos have "baskets" that are made up of 20-25 different currencies (and it looks consistent across the board . . . unless it's been limited to just one individual buyer). In my estimation, again based on the money flow, DGB is currently NOT included in any of those baskets. The goal is to change that, and it doesn’t matter that DGB is a long shot (yes, I think we’ve fallen back into undeniable “long shot” status), these institutions like to have a little bit of “long shot” in their portfolio as well. Get DGB included in those large investor baskets, and get it done ASAP, that would be the goal.

What’s more is that things don’t necessarily have to end in institutional investment – someone might make a personal decision based on something discovered in the workplace, for example, which could even extend to other friends and family. The campaign would be aimed at large known pools of money, but would not be exclusive to them alone, and most probably, like everything in life, would extend beyond the original target to destinations previously unimagined. More than anything we’re talking about making contact with the outside world, as it were, and doing so in the most professional and intelligent way we can.

The window of opportunity is narrow (as it is with everything in this business): you snooze, you lose.

On the other hand, as I’ve said before, if you don’t believe in your product to begin with, then you might as well just end this reading with a big “never mind”.

(This should be considered to only be part of a multi-pronged approach to addressing current adverse issues, in conjunction with things like algo substitutions – great to see so many favorable comments regarding that – and new user target marketing, to name but two other key items.)


Ah, what the hell. I’ve decided to find the time and take third party initiative on my own and send out “recommendations” with basic introductory information. Major institutions like to have independent, third party, analysis so anything I might add independently certainly won’t hurt. Including NOBL adds certain credibility as well. Cryptsy will receive free “advertising” also as a by product. Nevertheless, the main goal, that of informing people with the means and the need of a product they previously didn’t know about but will be glad they finally found out about, will be what's really important. Anyone who would like to help with snippets and ideas on what you think would most interest large investors, please feel free to PM me your suggestions.

I take it traders already taking advantage of the differences in cryptsy and bittrex prices?

I think it is imperative to start here, especially as we need to attract a lot of small hashers and this is the best place to have them, for the community at large.
The impending doom does need to take a back step and this is a good place to start. The evil asic attack, imo, started a long time ago but it is slowly sucking the blood out of us like a parasite. It is time we got frontlined!

You won't find me arguing with you there digitaldoxy, as I said in an earlier post, asics are the 'holy grail' and is what makes any coin insurmountable from a security point of view if they can achieve enough of the network. We just need to achieve enough of that network and it is down to the community to do it somehow. This is the biggest challenge that we face and it is a particularly difficult one. Every little asic added to digihash helps but it really is a piss in the ocean. We all need to piss in it!

I think it's a good thing that our community has been discussing and engaging with the relevance of DGB.  As much as I've been following the conversation for the past few days, I haven't felt any dire need to worry much.  We've seen some major selling.  Sure.  Some of that is from large stakeholders - members like 0o0o.  There's nothing wrong with that from my perspective.  It's good to reassess and redistribute holdings on a regular basis.

We've also seen some sharply critical questions and ideas.  Again, nothing wrong with that.  It's good to critically question and engage.  And, my personal belief is that our community is stronger as a result.

Here's the way I see it.  The exchange value has obviously gone down over the past couple of weeks.  Prior to that we had been stuck trading in a range.  I don't bother to predict price bottoms or price cycles anymore.  I do think there were some people who attempted to take advantage of the downward pressure for personal profit.  To those people I would simply say that I don't respect greed as a motivation. Greed and fear spread like disease.  But, it is what it is.   We make the world that we live in.  We can make a world filled with greed and fear or we can make a world filled with ideas that inspire us to seek out value, and opportunity, and equity.

However, the underlying fundamentals of DigiByte have not changed.  The underlying fundamentals of DigiByte are stronger today than they were yesterday - and they are going to be stronger and more secure tomorrow than they are today.  So, we have a moment of opportunity because the intrinsic value of DGB, and the current development work, is more valuable today than in the past.  I'm looking forward to the coming months.

PS.  To Jumbley.  Welcome back old friend.  Glad to have your humor and ideas back in our discussion.

We are going to reset the pool. The issue we are having is DigiHash is built upon the open source NOMP repo: https://github.com/zone117x/node-open-mining-portal. We had to customize a few things in order to get it to run with all five algorithms. As you can see from the repo NOMP has not been maintained for a year now and we have not had the resources to focus a lot of time on continuing development on it. DigiHash was built to be fill a need. DGB has had mining pools come and go dozens of times over the last year. We wanted to give the community a pool that wasn't going to go anywhere.

We have also been experimenting with the pool by changing the payout threshold to fix a few other issues people are having. Part of the problem with some wallet issues people were experiencing was the bloat of the UTXO database.  When the pool starts paying out 1 or 2 DGB at a time thousands of times over to a mobile wallet (lots of people seem to do that) the mobile wallet tends to freeze and cause some issues.

If anyone would like to take a crack at the pool please let us know. The code is in our github repo.

Without a doubt communication is critical and the past few weeks we have not been as communicative as we could of been. However, this does not mean by any measure we have been sitting ideally by. There is a lot underway for DigiByte right now.

The investment DGB has received has been used to maintain several aspects of the network as well as to develop privately held services built on the DGB network such as DigiByteTip (I can say there are other services under development as well right now). We are not going to disclose some of these projects, partnerships or advancements until they are ready. This is for multiple reasons.

First, we don't want to tip off the competition until the services are ready to take to market. Second, we don't want to fuel rampent speculation and pump and dumps. Finally, when you take on a private investment, it does come with a few a catches. But when such investment comes with the experience of individuals who are much more business savvy and have a proven track record of business success over the past few decades it is hard not to listen to the advice given. There also are legal ramifications for me publicly discussing some of these projects or discussing some of the meetings I have been in. I have personally signed multiple NDA's with multiple companies and obviously do not want to be held legally responsible for breaching these agreements.

To summarize, DigiByte is open source and will always be decentralized and open as a network. Anyone can build a privately held service upon top of DigiByte. This has already been done numerous times. Cryptsy, GiftOff, ShapeShift and many more have integrated DigiByte. Have any of them open sourced their code bases? No, why you ask? There would be a dozen copy cats that popped up over night. This is the reason we have not, nor will we open source DigiByteTip any time soon. This does not mean it wont happen at some point in the future. Mind you there have also been significant legal costs no one is aware of just to get DigiByteTip to where it is now. (Part of the reason for not actively marketing it yet.)

Without a doubt for me personally this is all a tough balancing act. On one side there is the open source network and all the other public services to go with it (all the wallets, DigiHash, website, explorer and more) and the the community at large who make all of it possible.

On the other side there is a private investment and a business to move forward. Obviously everyone here I consider to be an investor as well and I personally owe it to both sides to reach the best possible outcome so everyone comes out a head in the end and wins. And I believe this will happen and we are well on the way to making that a reality.

So far we have done a lot with the limited budget we have had compared to other companies in this space. Look at the investment ChangeTip has received as well as the $500,000 DogeTipBot has. Thats just one service. We are building multiple platforms and maintaining multiple services (6 node servers each month, digiexplorer, digihash, digibyte.co, digibytegaming, easyminer, ios wallet, android wallet, digibyte gaming wallet, all core wallets, a fully functional exchange we haven't launched to do crazy laws in the US, as well as a few other services we haven't released yet. I don't know anyone else in the crypto space to have provided all these aspects of a coins ecosystem from one source.

All in all things are moving forward and I am very excited for the future of DigiByte. This technology is here to stay and we are doing our best to position DigiByte the best we can to seize the opportunity when the time comes.

Thanks to everyone for your support, feedback and continued passion. There are some great conversations on here and now i'm going to go get to work on that video update.

Cheers,

Jared

HR,

You bring up many great points here. And I by all means am for creating an investor pack. Many of the companies you listed above I have read or heard from multiple sources are investing and getting into the digital currency space. I have had direct contact with people on Wall Street who are all trading digital currencies on the side and actively seeking out investment opportunities. I can also tell you we are pursing these opportunities privately as well.

It is very important to be in a position to seize the opportunity when this massive world wide debt bubble finally bursts. We are seeing the cracks around the foundation already starting to show ( Greece, Chinese Market).

The basket principle is definitely sound, and is the most logical option. We still want to take a multi pronged approach. Part of the video update will discuss another marketing avenue that is much more like to open doors than attempting a pure "currency" like approach.

As for the algorithm issue, there are things that need to be worked out and improved. As you mentioned above all signs point to a very turbulent Q4 of this year. Also, historically in the US pretty much every major stock market crash has occurred in the US in the September/ October time frame.

While I am not hoping or looking for this to occur, all signs are pointing to some turbulence in that time period. With that in mind, that time frame has become somewhat of a deadline to bring several of the projects we are working on together. Both on the technological front, but the marketing front. In order to do this several things need to come together before Q4.

Let us know if we can help with any of this. We are also working on a new set of marketing materials that might come in handy.

Cheers

Thanks for the updates Jared. I don't care what happens with the price in the short term as a break out moment can happen at any time. Trust me when I say I know I am behind the 2 best potential coins. The rest of the alts are just noise and BS.