By now everyone in the cryptoworld has probably noticed the insane rise of Digibyte. So what caused this rise? Well, to be honest, I don't know. However, I can tell you why Digibyte should be where it is now, or even higher.
Digibyte is one of the oldest cryptos still alive. It began its journey in 2014 as more or less a copy of litecoin. Nothing special there. However, already at that time, I noticed the potential. It was the developmental team that Digibyte has. Nothing is more important than the people behind it. Cryptocurrency as a technology cannot function without the people using it, but a single cryptocurrency cannot become great without a team to develop it. This is the number one reason that Digibyte is where it is!
Secondly, the name Digibyte is simple, it fits well in many languages, as far as I know. Comparing it to Ethereum (did I spell it right, sight) the name is extremely simple. Ethereum sounds like something from a slang used by computer enthusiasts. This won't work when you want to penetrate into the average consumer market. Or comparing it to Ripple, what does Ripple make you think? Well me personally, I think of something breaking in my hands, ripping into pieces. Looking at the other coins in the top ten apart from Bitcoin, the only good names are litecoin and bytecoin, however both of them are technologically wise quite old. Bytecoin I believe is just a bitcoin copy, but the name is catchy so it has made it so high. My intention is not to discriminate against the technology of Ethereum or Ripple, but I couldn't see myself paying in Ether or Ripple. This is an important psychological consideration.
Third, Digibyte has not been pushing to get noticed for three years. The sudden increase in volume is due to people noticing the currency and anyone who looks at the general stats can see that it is much better than many of the top 10 crypto currencies. But as I said, this is not a technical analysis, so I'll leave it at that. The point is that without diving into the technicalities anyone can see why Digibyte is better than Bitcoin. And those that dive in a bit more can see that it is better than many other currencies.
Fourth, continued development. Owning Digibyte in the long term has been really easy, just sit back and watch it go from a litecoin copy to a technical wonder. No need to understand anything, just own the coin and it is always right there where all the other currencies are with its technology. If it is not up to date the developmental team works on making it up to date.
Fifth, helping not competing. Digibyte has helped other coins instead of competed with them. Dogecoin for example had problems at one point, and Digibyte helped them to enable Digishield, developed by Digibyte. There are other cases, including those that just use the technology that Digibyte has developed.
Sixth, Jared. Jared is the face of Digibyte. He inspires confidence in the currency and is very professional. Anyone who watches a video by him, should understand that he is the right person to lead the crypto currency field.
To conclude, Digibyte is a good name for a coin. I could see myself buying things with Digibytes. The currency has a solid team behind it and an incredible spokes person as the face for the currency. This is all you need to understand in my opinion. My intention is not to spur debate about what currency is the best, but to explain to you why Digibyte has earned its place in the top crypto currencies.
I think digibyte is a good coin with potential, and agree with almost all your reasoning, except for the name. It is fine don't get me wrong. But, many household names all over the world don't translate well. Think Microsoft, Goldman Sachs, McDonald's if we're just looking at American companies. If the company does well, and I think Digibyte (and many other coins) then the name will be household regardless if it is easy to translate or not.
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Thanks for your comment! I'll explain my reasoning a bit more. I agree that if things get successful they will sort of force people to adapt. However, it makes things a lot easier when the name fits into multiple languages. Because we are dealing with something that causes a lot of resistance in the mainstream, we need a name that is easygoing or catchy to make a breakthrough. Hopefully this made my point a bit more clear.
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Hey, nice little explanation there! But I won't stick too much to the reason of its success because of its name 'digibyte'. Honestly I think people don't care much about names for money. For example: 'Dollar' --> What does the name dollar has to do with terms like 'coin', 'money' etc. Soooo I guess every name that doesn't spell like 'askljbfjhasdifhb' can be used and won't reduce the chance of success actually :)
But thanks for your point of view! I also strongly believe in the digibyte team ;)
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Thanks for your comment! I explained my point a bit more above. :)
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Solid blog. Interesting to see I'm not the only one that is thinking about this. The future is in blockchain. Cryptos are the new popular kid now, but the market will find it's way just like it did with the Internet boom. Does anyone know about: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. Check for example: https://www.coincheckup.com/coins/DigiByte#analysis For the DigiByte Research report
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