First of all I'm a fan of DigiByte, their project and Dev Team is excellent.
To set the terms straight and speak the truth I've bought many of them a few days ago to my greatest regret.
DigiBytes are sitting on a very very very low price at the moment.
Normally that means buy alert, buy at this point and you'll be rich! Certainly if we're talking about such a legit coin with many opportunities 😉
However their seems to be one BIG problem with DigiBytes (for investers), this problem is going on for quit a long time now, that's why I'm going to contact the Dev team about it.
DigiBytes are too easy to mine, especially by noobs.
They made it to easy to mine digibytes with all sorts of unprofessional hardware and algoritmes, this attracts a lot small simple minded miners with basic home mining equipment. Most of them adore this auto sell feature which causes that well known simple supply > demand issue. Meaning that the price drops continuously.
Should I buy now? wait? sell? hold?
If I try to set my involvement aside.
You should certainly buy BEFORE the issue is solved.
I cannot guarantee that it will be solved in a day or a week. I can however guarantee that DigiByte will make huge gains even as soon as the change in difficulty is planned or even mentioned by the Devs. And yes DigiBytes is not the nr1 cryptocurrency in existence, but it certainly belongs in the top 10 like it was before... So expect enormous gains on the mid term.
Selling at this pricepoint really is the most stupid action you can do
DigiByte is sitting at a pricepoint so extremely low that selling now would be completely wrong, you will regret it after in a few weeks, trust me. On top of that, people selling now are selling with HUGE losses, if I would sell right now I would cry from misery, because I lost more than 30% in 3 days, what am saying, even more than a third of my big investment.
I'm sure that DigiByte is a lot lot lot more worth than it's current market cap and price point, I'm not the only one who sees this, I'm just one of the few that knows the reason of it's continuing crash.
I came to know of this easy mining problem by a daily DigiByte thread on Reddit.
I want to give credits to mgladden2 for providing this interesting and important information about DigiByte mining and the crashing price.
I certainly advise everyone that reads this post to take a look at the original Reddit thread.
It's been so weak because it's been the most profitable high-end cuda coin to mine for weeks. Anyone who knows what's up uses multi-algo auto-switching with auto-exchange, so there's considerable daily selling pressure as we all auto-exchange (sell) our freshly mined DGB for our default (buy) coin. Chart looks terrible and sell imbalance is steep, but there's upside risk for shorts (squeeze) if even a modest development hits the news. Time will tell. Good luck guys.
Take my advice in consideration but never ever trust another human being without doing your own research!
Many luck to all investors, ciao!