Crypto in 2014: "We're going to replace the banks."
Crypto in 2026: "Please verify your identity to withdraw your stablecoin."
DigiByte didn't forget why we started.
digibyte:native #DigiDollar
Vault Day — October 2026: lock DGB in a DigiDollar vault (1 year or longer) and enter the monthly sweepstakes on DigiScope. Verified members enter free. digibyte:native #DigiDollar https://t.co/iPC8UC3Ex8
🎟️ ThatStanGuy (@ThatStanGuy) just entered Vault Day (a 500 DD vault, 5 tickets). 9 entrants · 14 tickets in the draw. Entries close Sun Oct 18, 12:00 PM CT. https://t.co/7BwjnoIbAV $DGB
$DD is a similar mechanism to $USDC. In the open market due to a one sided flood caused by decentralization and coin creation structure, this makes perfect sense. Trading pressure is all one direction. The community is working to grow liquidity and work with larger exchanges to get listed. This will take time. We don’t have a company backing us and no one person with hundreds of thousands of $DD to seed liquidity.
Also, with $DD the burn mechanism helps hold price as it is stable in $DD and $DGB. That is what creates value in $DD. Those of us who locked will all at some point need $DD to unlock vaulted $DGB and relock or sell. There is no current demand on that side of $DD as most locks are 1 year plus.
That mechanism of locking/vaulting/minting is what allows you to keep your collateral and will hold value in the coin.
Currently there is roughly 243k $DigiDollar backed by 168.5 million $DGB. So that DigiDollar is worth $590k usd currently. I would say $DD is doing just fine.
Staying in the game and buying the dip. Thanks to @anonkyc for a place to trade $DigiDollar $DD. Used my $DD to trade for ethereum:0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48, then traded $USDC for digibyte:native. Able to hold my original $DGB create $DD and buy almost 1/2 million more $DGB on https://t.co/pQElT3w2ku Pretty cool how that works.
When USDC was in the .80’s did that mean it failed and is done?
Seems to be flourishing…
Again we are two months in and flooding one side of the market as individuals are creating $DD and having to offload it to exchange into the market. It’s only traded in 2 places currently and has super low volume.
I think around the 6 month to 1 year cycle is when it will honestly pick up. Many of us locked for 1 year or longer. When we want to burn $DD is when there will finally be more demand for $DD. These things take time.
Be patient, sit and watch. If you have $DGB and want to lock it, do that and just don’t spend it. You support the system, help build security and have no risk.
It’s all up to you.
How stable is a coin that can be turned on or off at someone’s discretion? Also how stable is a coin that is backed by volatile debt funded by a company or individual?
We’ve already seen so-called stable coins fail.
The cryptographic time lock feature along with self custody are what make $DigiDollar different. With self custody your aren’t getting shut off.
Also, for those minting the system is 100% consistent and stable.
People can speculate as to a value but the lock will always hold true.
I would say the fact that I created an asset, sold it to buy more of another asset and never had to get rid of my original collateral is a proof of concept. Funny enough it worked. And for me to unlock my original collateral I give back exactly the same amount of the created commodity as you put it. That’s how this is supposed to work.
I also understand that when you flood one side of a market with surplus and limited liquidity and due to decentralization and asset structure one could say the asset isn’t working as planned.
For someone minting, it seems to be working pretty well from my perspective.
We are two months into to a brand new financial vehicle.
@DigiDollarNaija@anonkyc So let me ask you this. How is digidollar created? Then how is it burned? What do you give to create it and how are the values derived?
@tomthomas2029@Rolando_FFH@DigiByteCoin Also just released a new technology and is a first mover in a decentralized stable coin market. The chain is layer 1, secure, processed more blocks and any other uxto, and has no down time.
You do you.
You say that and I’m over buying the dip. I’ve always kinda felt like I can’t plan on the world going to waste. If that’s the case we are all screwed. Work with the flow of things, be educated and work sound strategies. Have some skepticism but still take some chances. I hope our financial system will evolve and don’t see us going back to barter systems. I think crypto is a solid direction. I will say working at a school and seeing the dysfunction of our system for a day without internet is very interesting as well. The new generation struggles to cope without their connections and they don’t know how to do much without tech.
@Ccsfounder Don’t know what happened at the end there. I think it was Xavier speaking up. I appreciate the input and giving your take we need some more of that. Keep asking hard questions.