http://spreadcointalk.org/index.php?topic=37.msg1090#msg1090Mr. Spread just said that he is working on the next improved testnet version. Because the next round will require restarting the blockchain, we might just as well stop round 1 of the testing now, no need to waste precious energy. Next testing round will begin soon! Thanks to everybody who participated in round 1 of testing!  Ok - just close the wallet georgem? |
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Anyone willing to take me up on the operation of a public spr mining pool... Please msg me  Currently 100 spr up for grabs. I will add 400 SPR to that for a total of 500 SPR - I would like to see a public pool up and running with found blocks and rewards going out to individual wallets. This offer is good until 2-14-15. |
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I hate to appear stupid but I really am utterly confused. If someone else can explain in terms simpler I might be easier to relate. Before was easy. Buy (3) slots at 1500 dmd earn 200%. That I understood. Now I am confused. First, I can lend 1500 dmd and earn shares from this and get my 1500 DMD back after a finite amount of time? Do I have that correct? If so what is the rate of return the reactor is paying out? Second, if I invest in cloud mining using DMD I am purchasing shares that will pay me like I am being paid currently? At the same rate related to BTC value correct? So in essence I think I am getting lost on how investing in the overall reactor v2 helps the overall value grow. I think that is where I am getting lost. Can someone please explain that portion to me or all of it if I have the others wrong. Sorry for the difficulty.
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request for contribution
i am willing to put a great part of my own dmd into a reactor
that create stake rewards which are added to dmd cloudmining payouts (once a week or once a month)
this would be if u calculate it not a good investment for urself
but a very good future prove support of DMD Cloudmining
(because stake is independent from dmdm coin value while normal BTC hashrate created buypressure earn less and less dmdm when dmdm price raise the staking rewards will be independent from dmd value)
so if something isnt a high roi investment how we get coins into reactor
beside me sacrifice my coins for cloudmining
the idea is the we start a new referral system where the referral rewards are DMD Cloudmining shares which are paid with dmd (by me)
also a percentage of new investments and reinvest BTC will be used to buy DMD for reactor
this is full in line with term of service with state that we consider hashrate as a word that fit to any payout generating investments including not only cloudmining but also staking services and lending services
im not sure who of u know rofo (jason) from noblecoin noxt
he sacrifices a big part of his own wealth to support his project
im afraid i am following same mindset
im maybe the opposite of a scammer i lower my own profit to make investors get theirs
u cant me stop doing this
but u can help me and take a bit of the burden on ur own shoulder
so who is willing to invest some of his DMD into reactor (or even better buy some dmd for use them in reactor)
a little overview how much i can expect can help me to decide if we start reactor
my contribution would be around 30k dmd
the funny part is we should do it as long dmd value is still low
because then we have to hand out less shares for the dmd and increase the longterm possitive effect of this supportive act
yes its the opposite of a great deal
its a supportive act that will return the invested dmd in around 12-18 months
but its a very important step forward for future prove DMD cloudmining concept
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(when i say me instead of foundation that is because as long our company isnt created all the contracts are between me and investors. the plan is still that once we created our Diamond Crypto Invest company DMD Cloudmining will be one of the products in its portfolio.
and if there will be a foundation seperate to the dimaond crypto invest company deepends if there are people joining foundation which are not part of the crypto invest company. we already started a call to community to join foundation and to start contributing. but if the people from dmd diamond foundation and diamond crypto invest are 1:1 identical i see no sence in create (and have additional costs) two companies at beginning)
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list contribution to dmd cloudmining reactor:
(i will update this with numbers from rest of community
and once we have a better picture what size our reactor would be able to reach for start we decide if we really create it
(meanwhile 41k already gathering coin-age in the reactor wallet))
30000 helmut(cryptonit)
First - WOW - you have some serious DMD's - :-) I am a bit confused so I may have missed it in the original post. What is the benefit to having my DMD in your wallet as opposed to my own? POS wise? Please advise. this. I re-read it and I still don't see the stake rate. What is the benefit for locking up coins in another wallet that stakes at the same rate as mine? He may have said it in the post but sometimes there is a language barrier. I usually can decipher I just might be missing it. Please help if you understand. |
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request for contribution
i am willing to put a great part of my own dmd into a reactor
that create stake rewards which are added to dmd cloudmining payouts (once a week or once a month)
this would be if u calculate it not a good investment for urself
but a very good future prove support of DMD Cloudmining
(because stake is independent from dmdm coin value while normal BTC hashrate created buypressure earn less and less dmdm when dmdm price raise the staking rewards will be independent from dmd value)
so if something isnt a high roi investment how we get coins into reactor
beside me sacrifice my coins for cloudmining
the idea is the we start a new referral system where the referral rewards are DMD Cloudmining shares which are paid with dmd (by me)
also a percentage of new investments and reinvest BTC will be used to buy DMD for reactor
this is full in line with term of service with state that we consider hashrate as a word that fit to any payout generating investments including not only cloudmining but also staking services and lending services
im not sure who of u know rofo (jason) from noblecoin noxt
he sacrifices a big part of his own wealth to support his project
im afraid i am following same mindset
im maybe the opposite of a scammer i lower my own profit to make investors get theirs
u cant me stop doing this
but u can help me and take a bit of the burden on ur own shoulder
so who is willing to invest some of his DMD into reactor (or even better buy some dmd for use them in reactor)
a little overview how much i can expect can help me to decide if we start reactor
my contribution would be around 30k dmd
the funny part is we should do it as long dmd value is still low
because then we have to hand out less shares for the dmd and increase the longterm possitive effect of this supportive act
yes its the opposite of a great deal
its a supportive act that will return the invested dmd in around 12-18 months
but its a very important step forward for future prove DMD cloudmining concept
-----------
(when i say me instead of foundation that is because as long our company isnt created all the contracts are between me and investors. the plan is still that once we created our Diamond Crypto Invest company DMD Cloudmining will be one of the products in its portfolio.
and if there will be a foundation seperate to the dimaond crypto invest company deepends if there are people joining foundation which are not part of the crypto invest company. we already started a call to community to join foundation and to start contributing. but if the people from dmd diamond foundation and diamond crypto invest are 1:1 identical i see no sence in create (and have additional costs) two companies at beginning)
-----------
list contribution to dmd cloudmining reactor:
(i will update this with numbers from rest of community
and once we have a better picture what size our reactor would be able to reach for start we decide if we really create it
(meanwhile 41k already gathering coin-age in the reactor wallet))
30000 helmut(cryptonit)
First - WOW - you have some serious DMD's - :-) I am a bit confused so I may have missed it in the original post. What is the benefit to having my DMD in your wallet as opposed to my own? POS wise? Please advise. |
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I Have to send some BTC over to bittrex asap. Pick up some more of these coins at these prices.
I have a feeling there is a lot of "spreading" going on. :-) Someone is being generous! |
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Let's be honest. cloudmining BTC to buy DMD to boost the value of DMD is creating an artificial economy for DMD. Yes, this is good for anyone who holds DMD. But I am pretty sure if we were in a regulated market this will be illegal. Then to argue that those who support cloudminging because it works this way deserves a bigger reward is ridiculous. ANYONE who mines, buys and holds their DMDs is assisting in creating value for DMDs. If the miners unload all their DMDs, the value will drop significantly and cloudmining cannot stop that. This scheme only works because volume is so low. I am not against cloudmining. It has clearly resulted in a higher value for DMDs but investors in cloudmining are getting their reward from blocks found. Creating an incentive for others to invest in cloudmining using the currency itself is wrong. It surprises me that some people don't see this.
I think any mechanism you set up should not favor any one DMD investor over another. That seems to be completely contradictory to the principals of cryptocoining. If the owners of the cloudmining service want to pay the reward out of their own pockets, that's up to them, but to create a facility to do it within the mechanics of the coin is unethical. Its a conflict of interest because those running cloudmining also run DMD. I read comments where people say, "I trust so-and-so". I we were talking about a stock, a commodity or US dollars on a regulated exchange, would you make that same statement? Do you think people trusted the operators of Mt. Gox? Its not about trust. Its about running this currency like professionals in an above board, unquestioned way. Outside investors and commerce partners need to see this if we want them to work with us.
i hear u..... one of the most interesting feedbacks from the no reactor fraction when i say reactor might come i can also say it might come in another way that dont affect people outside of dmd cloudmining example we could accept DMD to buy dmdm cloudmining shares and we could put that DMD into the reactor give me ur feedback on this this kind of reactor we could launch with very low coding effort and not touch dmd wallet code at all it would be just a normal staking wallet this way reactor and dmd wallet development will be two total separate topics -------------- still the path towards bitcoin v2 is a goal should be for any coin but not many coins are able to transform themself towards this new level we see this as another way to filter out coins from market which are not fit for the future -------------- it also means we need not only 1 company but there are two organisations needed DMD Diamond Foundation (there would be wallet development) Diamond Crypto Invest (there would be dmd cloudmining + reactor but also new other crypto investments products) i think as it is now lot of our core people would be part of both but i really hope that this awakening of people here in community after we released our reactor plan lead to some of them with loud voices to step up and say "we want to join DMD Diamond Foundation" Cryptonit - I like this idea too - the reality is that anyone that is mining the coin only is limited - so any other investment vehicle that helps increase the value of the coin is good in nature. I would be interested in a DMD for shares plan that would ultimately make more DMD. |
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Hi people,
I strongly disagree with this type of sentiment, and believe the best part of reactor was the link to cloudmining. Why should those people who support buy pressure on DMD not be rewarded with opportunity? If you choose only to mine directly or buy directly, you are rewarded with the results of increasing buy pressure from the cloudmining venture. Nothing stops anyone investing in Cloudmining so that they could enjoy the benefit. And the negative comments regarding the cloudmining were uncalled for. Cloudmining to convert btc to dmd is a great piece of forward thinking.
I don't mind the idea of decentralising the process, but the link to cloudmining was awesome. It is only a parasitic mindset that denies the right to benefit for those with increased support to DMD while reaping the associated benefits.
Mine or buy, then sit and wait for others to earn your future? I also object to people complaining about the DMD management managing the future of DMD. This is their role and they are committed.
To those who didn't like the Reactor setup, but supported management in making the decision, full kudos.
I trust our leadership is making the right decision shelving the reactor so as to pursue better outcomes with other opportunities.
Regards
chilo
Let's be honest. cloudmining BTC to buy DMD to boost the value of DMD is creating an artificial economy for DMD. Yes, this is good for anyone who holds DMD. But I am pretty sure if we were in a regulated market this will be illegal. Then to argue that those who support cloudminging because it works this way deserves a bigger reward is ridiculous. ANYONE who mines, buys and holds their DMDs is assisting in creating value for DMDs. If the miners unload all their DMDs, the value will drop significantly and cloudmining cannot stop that. This scheme only works because volume is so low. I am not against cloudmining. It has clearly resulted in a higher value for DMDs but investors in cloudmining are getting their reward from blocks found. Creating an incentive for others to invest in cloudmining using the currency itself is wrong. It surprises me that some people don't see this. I think any mechanism you set up should not favor any one DMD investor over another. That seems to be completely contradictory to the principals of cryptocoining. If the owners of the cloudmining service want to pay the reward out of their own pockets, that's up to them, but to create a facility to do it within the mechanics of the coin is unethical. Its a conflict of interest because those running cloudmining also run DMD. I read comments where people say, "I trust so-and-so". I we were talking about a stock, a commodity or US dollars on a regulated exchange, would you make that same statement? Do you think people trusted the operators of Mt. Gox? Its not about trust. Its about running this currency like professionals in an above board, unquestioned way. Outside investors and commerce partners need to see this if we want them to work with us. I know they people running DMD have tried to drive this coin into commerce but no one is going to exchange a product or service for a currency that has no controls, no operating principals and no stability. At the end of the day its about putting food on the table which means its about money. We should always operate as if we are a well regulated issuers of a currency. Personally, I don't care either way. I invest my time and resources into mining DMD with the intent of recouping my investment and hopefully making a profit. But I have no delusions about DMD. In about 6 months the reward will drop to .1 and I have no idea what the difficulty will rise to before then. From a profitability perspective mining will be so far underwater for GPU miners it would be insane to mine this coin. Perhaps ASICs can save them but that would involved yet another financial investment. [/quote] DMDCreeper - I like how you wrote what you did. It makes sense when laid out that way and doesn't seem like a rant. Maybe I am missing something in terms of the reactor and how it would affect others. I have no problem with the cloud mining service creating buy pressure on the coin because there is not a lot of volume to be had anyway. The cloud mining mechanism is needed until the community gets larger and the coin becomes useable which in turn will create demand. I think what the Dev's have planned for this coin can help create that demand. |
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A couple of things on the reactor project that I don't understand from the people that seemed to take issue with it.
From all your statements and posts.
Everyone seemed to complain how it wasn't fair.
Correct me if I am batsh*t crazy, but cloudmining is open and available to EVERYONE.
Those that took the risk are the ones that the community are happily letting create part of the DMD stabilization mechanism. Yet if they are given more of an opportunity the community is outraged? WHY? The individuals of cloudmining took the risk/reward opportunity that was community wide!
One could easily invest the cost of 1 gpu or less and have cloudmining for the future. Yet I see the ones that stomped their feet and cried foul the loudest are not part of cloudmining and don't have the 1500 DMD to risk. I mine DMD everyday 24/7, I am rewarded with fresh minted coins.
I chose to invest in Cloudmining and I receive coins everyday.
The reactor, I would invest and risk 1500 DMD for 280 days to have 4500 at the end. An opportunity, I could also have nothing by the end if the wallet was compromised.
The first round was open to cloudmining investors.... Is that the sticking point? How does a dev team prevent giving a resource of generating more coins out of insta dump miners that destroy price. Look at every coin on cryptsy. They are all rushing toward 0. LTC? DRK....
Every investment involves some sort of risk. There is a needed payoff for the risk taken.
I don't see what the heartburn is about the reactor. Please give me a sound, well thought out response on this. Not some lame it isn't fair or centralizes the network BS.
Boffin - here here - agree entirely. I am not sure where all of the whining came from? If people don't want to invest they don't have to. I would have gladly bought up more of the reactor slots so that we could have gotten it started as I am sure others would have. Locking up 100,000 DMD in a stake vehicle would have been nice and slowly released DMD's to us. I hope the Dev team wasn't strong armed into canceling this project. Because those of us with a stake in the project (I will assume the majority) were for the reactor! Anyway - I am along for the ride. Let's see where this thing can go. |
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I think reactor was a great name and a bad idea, the connection to cloud mining was very wrong.
Few mine this coin because it takes to long to get any kind of reward even with good coin age.
It's crazy how long I have to wait for a few coins. Would rather not bother.
The value of 50% is stupid if you can't collect it.
I'm not a crypto maniac where I leave my computer running for the sake of a coin, although I don't mind connecting up from time to time. However with this coin it's pointless even connecting from time to time as there is no reward.
Reactor was an obvious failed attempt at a patch to an obvious problem.
Hi people, I strongly disagree with this type of sentiment, and believe the best part of reactor was the link to cloudmining. Why should those people who support buy pressure on DMD not be rewarded with opportunity? If you choose only to mine directly or buy directly, you are rewarded with the results of increasing buy pressure from the cloudmining venture. Nothing stops anyone investing in Cloudmining so that they could enjoy the benefit. And the negative comments regarding the cloudmining were uncalled for. Cloudmining to convert btc to dmd is a great piece of forward thinking. I don't mind the idea of decentralising the process, but the link to cloudmining was awesome. It is only a parasitic mindset that denies the right to benefit for those with increased support to DMD while reaping the associated benefits. Mine or buy, then sit and wait for others to earn your future? I also object to people complaining about the DMD management managing the future of DMD. This is their role and they are committed. To those who didn't like the Reactor setup, but supported management in making the decision, full kudos. I trust our leadership is making the right decision shelving the reactor so as to pursue better outcomes with other opportunities. Regards chilo +1 - Chilo - you are well spoken/written. I couldn't agree more. |
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Coins received with interest.
Status: 6 confirmations
Date: 1/30/2015 17:20
From: unknown
To: darrnyqFMDJ13LKbgkkWMbhh7RA3rK5SyF (own address, label: Diamond Cloud Mining)
Credit: 1575.00 DMD
Net amount: +1575.00 DMD
Transaction ID: c3f0b4c321b50ca63787794268229f1ff2a3b2a8be38a5c46c953bfcc22979b5
I liked the reactor idea! I hope the next one makes more people happy. I am willing to fill more reactor slots if no others are interested!
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I still think that such a conceptual move (a single pos privileged address, regardless of how it's used) should be approved by the community before going live.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
How should we fairly deliberate on this or similar moves? One DMD, one vote; One holder, one vote; One cloudminer, one vote, One miner, one vote etc? While I agree all of the community should have input on the direction of our investments, a strong team needs strong leadership and strong support. The suggestions and ideas have not been very strong except when major changes have been made by our leadership. I tend to support them. I don't want to see any of us alienated by moves within DMD, but how do we with all fairness move forward without leadership? The goals, risks and potential benefits of the change have been clearly stated. There is little risk if you choose not to engage in the changes, and potential reward (at risk of short term sell options on your reactor staked DMD) if you do engage. I see how it could be perceived as unfair that only people with cloudmining shares have the option of reactor staking, however anyone can purchase cloudmining shares. I would think if you don't have enough belief in DMD leadership to engage in cloudmining, you probably would not put 1500 DMD up on trust for potential reward. I would love to see many ideas and suggestions for the DMD leadership to pore through for inspiration and community appraisal. Let's discuss this, but not complain when leadership leads. Kind Regards chilo Well said Chilo. I feel like there is a lot of whining going on about the DMD Cloud Mining. No one was complaining when their DMD value is going up from Cloud Mining reaching in and buying up miners DMD's. No one was complaining when I bought shares into Cloud Mining to get more DMD's. No one is complaining when I turned (10) GPU's on to mine DMD in addition to buying Cloud Mining shares. When another tool gets developed "that will hurt no one" who isn't invested in Cloud Mining, everyone complains? Utterly confused. If you don't have a stake in Cloud Mining keep going your course. Mine, hold or sell. If you have a stake in Cloud Mining then you already believe/trust in the DMD dev team. You committed money so what are you complaining about? This is another tool in the box of the DMD project. |
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and vote by buy mine stake hold dmd and cloudmining shares and reactor slots u wanted to vote voting have started...... I vote YES for the reactor! People are being narrow minded. |
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whatever reason for this "reactor", I believe you should have asked the community first.
doing it like that, even in good faith, looks like you knew people wouldn't have liked it and you wanted to do it anyways.
Im selling everything... Moving coins to Cryptsy for the presumed dump! Please give me a bit to clear the confirmations. |
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LOL - ok first and foremost - I am ignoring pretty much all newbie accounts that start out with bs or are quoting some other fudsters bs. It really does help the screen view and allow me to see the important stuff. Try it it helps! Agreed... but sometimes just can't help myself from pointing out the hypocrisy and stupidity...  Ok - so I received my first 17+ tSPR MN payments - woot - it works! Ahemmm - I have over 42 MN's hehe. So I expect a lot of coin today! :-) Are a lot of them multiple addresses in one wallet, or single MN's per wallet instance? Actually a mix of both - probably closer to half and half. |
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LOL - ok first and foremost - I am ignoring pretty much all newbie accounts that start out with bs or are quoting some other fudsters bs. It really does help the screen view and allow me to see the important stuff. Try it it helps!
Ok - so I received my first 17+ tSPR MN payments - woot - it works! Ahemmm - I have over 42 MN's hehe. So I expect a lot of coin today! :-)
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And just so that everyone understand:
1- are pools possible? YES
2- are there already any pools? YES, private ones, at least one
3- are big pools possible? Maybe, but they are not economical.
4- Why? because anyone can steal the block found, so in practice, it is equivalent to solo mining.
5- since the restriction are economical and not technical, isn't there an economical work around for making pools possible? maybe, but no one has thought of them yet.
6- what happens if someone think of them? We, as a community, and Mr. Spread as the main dev will have to outsmart them and come up with new economical restrictions to pooling.
I am cool with that #6 - nothing lasts forever. |
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Ah - At the moment I am aggressively mining Spreadcoin. I have no GPU's to send. Once the masternodes go into effect I will send some GPU's your way. |
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1) Private pools are not open pools, they will not let anyone join. Because every miner needs the privkey to mine, anyone untrusted will steal the mined coins. So real pools and multipools, never. 2) If you check the updated Network Hashrate from the OP, then you will see the biggest miner is 5%, not 25% (address SkRo). The largest portion on that chart (78%) is hundreds of small addresses all mining, the very essence of decentralization. The chart at the very bottom is historical (not current), and the largest address only mined for a month last year when the diff was lower. 3) Not even close, please do better research. [/quote] +1 |
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Since POS takes a bit to warm up I believe they are having us submit to the wallet in which they already added foundation funds to. I believe this is for the sole purpose of starting coinage. If I understand correctly my 1500 dmd is going to be swapped with 1500 dmd that is already aging in the wallet essentially giving me and others instant POS rewards. I am not sure I see the problem. Can you explain why you think this is not going to work? It makes total sense to me. What even weirder is that I have never seen you in this forum before. Are you even a Diamond investor?
I have been mining DMD since switch to Grostl algo, even though the amount of DMD I own has no relevance to the issue I mentioned and by bringing that as a roadblock to a valid concern makes little sense. I watch the DMD thread as it is a coin of interest of mine obviously but I guess up until now I haven't had any comments that were not already covered by others. In fact your entire response has nothing to do with my comment so I must ask can you even read english and why did you bother responding?? Thx Ultrajohn and cryptonit for providing useful information on how the special case wallet will be handled with a mandatory update. Hilux - Ok - first let me apologize. No offense was intended but I can see how my comment got you on edge. I have been dealing with trolls/fudsters all week in another thread. Your question was sounding like the beginning of a negative rant and I just jumped at you. Not fair on my part. With that said - yes I speak english - born and raised in the garden state. I am not a mechanic nor do I understand the programming aspects of running a coin. Ultimately I am a believer in all this coin has to offer as a storage of wealth and one day a transfer of wealth. I too have been mining it since it was a scrypt coin. I believe in Cryptonit, Popshot, and Danbi and put full trust in them. I have sent multiple payments to Cryptonit to purchase cloud mining shares and he has always been nothing but a pleasure to deal with. I know you are looking for more technical but I am not that type of investor. I have seen DMD implemented and the way it works. I trust in the team(people) running it and some might say it is blind faith but I say it is trusting in people that have a stake in the game. Anyway welcome aboard. I was genuine in asking if you could explain why you were concerned that it wouldn't work? |
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