Hi everyone!
This is my first Steemit post so please don't hesitate to give me some feedback about this post. :-) I want to give my point of view and opinions about DigiByte and advice you to buy DigiByte because of it's potential.
I invested $2000 in DigiByte on 13/05/2017 at 120 sat just before the huge pump which ended on June 9th and went back to 575 sat today. The reason why I invested in DigiByte is because I came across this post on Steemit and I was searching for a low price quality coin with huge potential;
- https://steemit.com/digibyte/@denismir0712/digibyte-dgb-will-make-you-a-millionaire
This post caught a lot of attention to investors and daytraders, mainly because it was saying DigiByte would be added and integrated to Minecraft. Fortunately and unfortunately this caused for a huge price pump, but also for a damaged reputation (I will explain further in this article). Within 2 weeks the price went up from 100 sat to 2700 sat (that's 27x your investment) and my $2000 investment was worth more than $60.000. I really had the feeling that it went to atleast 5000 sat, but it didn't happen.
Also, DigiByte was attending the Citi Tech for Integrity Challenge (T4I) where they became a finalist among 1200 attending companies with their product DiguSign. This became huge news for investors and DigiByte devs so it got hyped very fast and was also reason for the big price pump.
After the big price pump DigiByte it became clear to the mainstream traders and investors that DigiByte was only added on a private Minecraft server, but this was already clear if you would have investigated in to DigiByte as a coin and roadmap. And then the big dump followed leading us to the current price of 575 sat with a lot of angry investors who bought at 2000-2500 sat and spreading FUD about DigiByte since it would be a 'shitcoin'. Let me clarify, the coin was hyped by misinformed people which are now crying on Twitter / Bitcointalk / Reddit about their investment. I do have good news for all of you, DigiByte will come back and go to the same level as Ripple ($0.25), so HODL your investment and get rich!
So, in my blog title I am still saying invest in to DigiByte and let me explain why. DigiByte is a rapidly growing worldwide decentralized payment network & digital currency, inspired by Bitcoin. DigiByte allows you to move money over the internet similar to PayPal & Western Union but with many improvements, including lightning fast transactions with minimal or no fees. You send & receive DigiBytes to or from any DigiByte address in the world in a matter of seconds with no required sign up, registration, or hidden fees.
Mission statement
The mission of DigiByte is to bring the benefits of digital currency payment technology to merchants, consumers, & mainstream societies across the globe in the most easy to understand way possible.
Vision statement
We envision DigiByte becoming a decentralized payment network & digital currency used by millions of people across the planet to quickly & easily buy and sell good & services over the internet, in store, or person-to-person with little to no fees.
Core pillars
- Absolute Security: Our number one priority will now and forever be network and user security.
- Speedy Transactions: We strive to create the fastest possible decentralized transactions.
- Worldwide Decentralization: Keep the network open, transparent and accessible at all times.
- Ease of Use: Allow anyone to use and benefit from DigiByte in an easy to understand manner.
- Flexible Innovation: Quickly improve, adapt and innovate as new technology and threats arise.
Key terms
DigiByte: Refers to the entire DigiByte network or a single monetary unit on the payment network. 21 billion DigiBytes will be created over 21 years.
Block: A grouping of all transactions sent over the DigiByte network within a 30 second time frame. Think of a block as an excel spreadsheet that lists the address location of all DigiBytes at a given point in time in history. New DigiBytes are brought into circulation as each block is discovered on the network through a process called mining.
Mining: Mining is how transactions are processed on the network. Anyone can become a miner by donating and using their desktop, laptop or mobile phone computing power to help process transactions on the DigiByte network. DigiByte has made this process even easier with our 3 click mining software for beginners.
Blockchain: The DigiByte blockchain is the entire history of all blocks discovered on the network & therefore all transactions made on the network. Each block references the proceeding block all the way back to the beginning of the network to what is known as the genesis block. By linking blocks (spreadsheets) together an accurate, secure accounting of all up to date DigiByte ownership is made by decentralized consensus.
Coming soon!
So what's happening for DigiByte right now and what will come within the following weeks? Lots! The main first thing will be the Citi Tech for Integrity Challenge (T4I) awards at the end of July (date TBA) for their DiguSign product. There are even rumors DigiByte and CitiBank have setup a partner contract which will be announced after the awards. This could be the reason for DigiByte to keep low on Twitter and Bitcointalk since the last couple of weeks due to an NDA of the CitiBank challenge.
DiguSign allows you to securely store, notarize, validate and secure any document in a public, worldwide decentralized blockchain. By taking the secure cryptographic SHA256 hash of a document and embedding it in a DigiByte blockchain transaction that is then broadcast to thousands of servers across the planet in a decentralized manner.
Also, there will be a major rebrand of DigiByte and DiguSign the coming weeks. Unfortunately I don't have any information about this, only that this is going to happen and will get DigiByte to the next level and make it more professional.
DigiByte is currently on 12 different exchanges including Bittrex and Poloniex. These are big exchanges, but DigiByte needs more attention to get it added on the more bigger Asian exchanges to get the volume up. In the coming weeks DigiByte will be added on a new exchange (TBA) and the first trade on The Blocknet happened which is a fully decentralized exchange! Also, we are working hard on getting DigiByte added to HitBTC which has decent daily volume.
If you want to keep up with the latest DigiByte news from the official devs you can join the Telegram Alerts group:
- https://t.me/DGBalerts
There is also a huge community with more then 5.000 members currently in the DigiByte official group. Please join us!
- https://t.me/DigiByteCoin
I am sure the price will go up to possibly $0.06 again per coin at the end of this summer since there is a lot of movement and huge potential. The coin is heavily undervalued at just 575 sat and can go x10 easily within weeks! I hope this will make things clear a bit about DigiByte and why you should invest in this coin right now!
