Quote from: DeltaQuebec on March 28, 2014, 07:47:25 PM

Quote from: BitcoinTate on March 28, 2014, 07:22:37 PM

Quote from: feebty on March 28, 2014, 03:03:10 PM

I have held digibyte for a long time.
It is time to switch to x11 and be a leading alt, not a follower.

We are not completely sure the X11 algorithm is the best one to use right now. The fact that GPU's run cooler on it does not mean it is more efficient by any means.

I wont get into the debate , of what algo better or not, I like X11, however, anytime electricity is used in a circuit, and the result is heat, that is inefficiency unless the wanted end product is heat. How a coin is coded to handle say 'X11' is a product of the coin, not the algo. Having run X11 on a different coin for a day or so, I can hands down say, that its incredibly efficient. Now if its being 'tweaked' code side to produce better results with said efficiency, then that would be good, if everyone has access to this. It also could be speculation and FUD. I dont know.. and to be honest, eventually IF there is better coded miners out there, I would hope we'll all have access eventually.

A few things to remember, is that when anything new comes out, in any field , there will be pro's & con's, aswell as much speculation and misinformation from the people whom have the most to lose.

http://en.wikipedia.org/wiki/Faraday_efficiency

Lets not confuse, mix, and twist facts vs. speculation. My only argument here is that in an electrical circuit, Heat = Inefficiency

Much agreed. You bring up some very valid points. And we are speculating that the mining software will be improved as time goes on for X11.

Since we are not the 1st coin to switch algos in a hard fork or the 1st to implement X11 we see no reason to rush into it. We still have 2-3 months before this could become an issue.

Also, there still are several arguments as to how ASICS could actually help DigiByte grow in the long run. We are not saying we agree with this, but there are some valid points to consider. Such as. if someone spends $10,000 on a Scrypt ASIC the only thing it is good for is mining Scrypt coins. So people will be mining Scrypt based coins well into the future with them. Also, the more invested someone becomes in a coin after spending that much money, the more they will want it to succeed.

A majority, but not all GPU miners tend to be a migratory crowd moving from the most profitable coin to the next coin with the newest features with the hopes of it becoming the next most profitable coin to mine. This is not a bad thing, but it is not good for the long term survival of any particular coin with an algo dominated by GPU miners.

Also, a lot of GPU miners tend to be very short term oriented and less likely to mine coins because they believe in them and want to support them long term.

Ideally, if we do switch algos we would like to make it something Unique to DigiByte that will help make us stand out. Much like DigiShield. This takes time and we definitely want to test it out.

We are researching many different algos at the moment including ones never before put into a crypto. This is a very broad and technically challenging are of study so it will take some time.

Still, if anyone has any further suggestions we are very open to hearing them. Thanks again for the feedback!