If you are a digibyte holder then this is important for you to know. Even though it has been a rough journey recently but in the long run this coin will payoff as the technology behind this coin is very impressive. Digi is still new to the market and it takes time to build a reputation. The recent drop in value has been due to the loss in cities competition (as we all know by now) but the competition is still not over as there are further awards and possible affiliations to be announced in July. This competition was to mainly give exposure to the digi technology and to make affiliations with the big companies, winning the comp would have just been an icing on the cake.
Furthermore the price increase in digibyte before and on the 9th was a surprise to everyone as the devs are still working on perfecting the technology . Just my opinion. This coin is in it for the long haul.
Below is the message fro Jarrod Tate (founder of digibyte). Hope it helps people feel at ease with the digibyte and it's recent drop.
"First off, thank you to all the long term DigiByte supporters and a very warm welcome to all the new DigiByte community members here! Things have been very hectic the past few weeks.
This sudden rise caught all of us by surprise as much as it did some of you. If you look at the history of other major crypto markets as well as the history of DigiByte you can quickly tell things can get volatile very quickly. So please make sure to take the time to fully educate yourself on cryptocurrency trading and blockchain technology in general. And please note we do not answer speculation questions or make forecasts or predictions. We are here to focus on the core technology and the true innovations and applications that blockchain technology allows us to build.
We are actively working to expand the team and get better organized. The recent Citi Tech 4 Integrity Challenge was a great event for DigiByte! We were told that we were one of the finalists in the competition and it was a tough decision for the judges that day. However, the competition is not over yet. The main awards will be concluded in July where over 60 awards from several of the main partners will be awarded.
We made several great connections with some very large companies. However, please understand it takes time for things to move forward with such large organizations. Please do not expect anything to happen overnight.
Most blockchain businesses are flooded at the moment with a backlog of news users and messages. So please understand we are working to get through the 1000's of messages we get each day across all our social media including Twitter, Telegram, Reddit, Email and here and more. It is a very exciting time but there will be growing pains!
Finally, a few housekeeping notes. All recent orders on DigiByte Market will be refunded due to the recent price fluctuations. We also want to point out the dev team is not the organizer of the meme contest or the developers of the Minecraft server. So please direct your questions toward the appropriate organizers of those projects. Thank you all again for your continued support. As stated, many, many times over the past 4 years. We are here for the long haul!"
Cheers,
Jared