Can I mine with my CPU?

Unfortunately not. Previously Qubit was the best DigiByte algo for this, but even recently it became GPU-mineable and there’s now first generation ASIC miners for it as of Q3 2017.

Unfortunately you can’t mine on your CPU with DigiByte at present, nor can you use your Cellphone to mine. You shouldn’t use a laptop either, stick with a desktop GPU or an ASIC.

 

Can I mine SHA256 / Scrypt?

Absolutely! However mining these is best left to ASIC miners, predominantly they saw a rise in popularity as a result of Bitcoin (SHA256) and Litecoin (Scrypt), so as a result there’s little point in GPU-mining these algos

 

What’s best for me to use, AMD, nVidia or ASICs?

That’s a tough one to answer, and probably the wrong question to be asking. Ideally you want “bang for buck” in terms of up-front cost vs hashrate vs power consumption. This is going to vary in every single instance, based on purchasing rates for GPUs / ASICs, power cost in your region etc

Do your research over at whattomine.com on the network hashrate (Nethash) for each of the SHA256, Scrypt, Skein, Groestl and Qubit algo’s, then compare vs your expected hashrate of the hardware you’re going to purchase. This spreadsheet should help give an indication of what hashrates to expect from your GPUs.

 

Is mining DigiByte actually profitable?

If you’re using an older GPU that’s from 3 generations past, it probably won’t be. There’s also no point using a laptops “onboard” GPU either, you’ll probably cause damage to your laptop if you leave it running at max (Heat etc) for prolonged periods of time. For the rest, it depends on what you’re mining, what the network hashrate is doing at the time, your mining software, power consumption etc

 

How much difference does mining software make?

It makes a HUGE difference, in some cases a good 30-40%! You’re not limited to just one particular build of ccminer / cgminer / sgminer, so do your research try others out.

 

Do I need to wait for the Wallet to ‘sync’? Why does it take so long?

You can still send and receive DigiByte even if your wallet hasn’t fully sync’d with the network. Once you’ve got the wallet, you have your public / private keys, and as such should back them up immediately. You can get started right away with receiving DigiByte to your Wallet just by giving out the Public Address that you can see in your wallet to anybody / mining pools / exchanges etc, it just won’t show on your own local wallet until it’s fully sync’d.

It can take some time, as it’s downloading the whole DigiByte blockchain (So it’s best to just leave your PC open overnight syncing) and calculating your balance based on the public ledger. You can always check up on your balance by using an online Blockchain Explorer such as DigiExplorer or CryptoID DigiByte, and just put your Public Address in there to see the balance.

 

Are there any other wallets I can use aside from the official ones on the DigiByte.co website?

There’s the Coinomi Android wallet you can use, but, it’s a “Brainwallet”, which is not as secure with it’s private key generation compared to the official DigiByte wallets, so the author of this community-website (Who is not affiliated with Digibyte.co in any way) would recommend sticking to the official DigiByte.co wallet.

If you are mining or purchasing, most mining pools / exchanges will allow you to store your DGB on their own website wallet temporarily, so you don’t have to have the DigiByte wallet downloaded in order to get started with DigiByte! You can begin immediately 🙂

However you don’t want to keep your DigiByte on exchanges etc long-term, it’s not a wise / safe idea.

 

Why should I have my own wallet? Why shouldn’t I use an online wallet or keep my DigiByte on an exchange?

Part of the benefits of the Blockchain (The underlying tech that DigiByte uses) is that you have complete control over your currency. No bank, government, intermediary or 3rd party is required. By leaving your DigiByte on an exchange means you’re leaving your DigiByte in somebody elses ‘control’.

What happens if the website goes down? Does server maintenance for a few days? Servers get seized by whatever agency? You then can’t access your DigiByte, as has happened with the MtGox and BTC-e for Bitcoin.

By having your wallet on your own PC / Cellphone, you can always send / receive your DigiByte, and aren’t dependent upon any 3rd party. You can always restore your wallet onto a new device (Say, if you drop your phone down a toilet or your laptop gets stolen), send your DigiByte to a new wallet, and keep them safe. It’s all about safety!