people ask me what will happen once POS 50% is activated with my old coinage? Once we reach total coins of ~400,000 PoS is initiated and set to 50% per annum with minimum coinage 30 days and
maximum set at 60 days. so the answer is if u buy at example now 1000 dmd and you open wallet in 2 month 1 days for minting this would happen 1000*0.5/12*2=83.3 your 1000 DMD will create at this day enought POS rewards to be 1083.33 at the end of the day 1000 -> 1083.33 in 2 Monthsand yes every coin u buy now (or owning already) gather coinage for later up to a maximum of 60 daysplease keep in mind coins only gather coinage that u can use in YOUR wallet as long as u leave em on exchange all gathered coinage is lost with transfer them to your wallet the only one who smile if u leave coins long (above 30 days) at exchange is the exchange owner he sure love the free coins he mint for himself with your diamonds  edit: added this to FAQ |
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Still looking undervalued when compared to the amount of coins available to the markets.
what people have to keep in mind is that even if we will see a few dumps where speculants try to cash out everytime this happens lot diamonds will land in hand of people with "holder" mindset and "holder" dont sell and dont play games on exchange "holder" calculated the ROI with estimated value increase and coin increase by POS diamonds in hand of "holders" will be not traded again for a long time so the amount of diamonds for speculants will be lower and lower each dump cycle the value of coin will increase each cycle BUT
diamond main purpose is to be a storage of wealth
all our coin spec decisions where made to strenght thisthis is the key to success and not the speculants who try to ride on the wave that our near wallet release brought |
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set voltage to 1100 with msi afterburner
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the comcept to hand out coins in this level concept had flaws
because people who able earn bigger share are involved most likly in a lot coins like i am
i just dont have the time to spare drive ITC too
here i will just stay silent shareholder
a coin need people who have not profited from crypto allready and are hungry
this people can create a momentuum
wish you luck to get some of them
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@danbi
we will evaluate the possibility of go live with our wallet we have now and release a groestl mining wallet later which only pools and people who wana solo mine have as a required update
we could have this as option if dev can disabke solo pow mine ability in our wallet
but most likely we will be able releaseall together in time anyway
update:
the all in big bang release is still the target we aiming for
the only parts we leave for later are non hardfork creating like UI overhaul
im bored of all this clone wallets but i can wait the extra month or two it taked for our innovative and uniqe UI
focus now is on other parts
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sure keeping some for themselves is fine but some could fund projects etc. good to see diamond making a comeback... people don't realise that they pay 3.5% out but get 500% + returns  come on be sensible guys look at the big picture. no we keep not a single dmd for ourself projectmembers have only access to foundation dmd via work on tasks same as bounties that we will hand out towards non projectmembers dmd is nowhere about hype prise and sell foundation dmd foundation dmd generate so slow it cant be abused in such a way we will make foundatioh wallet transparent every outgoing transaction will have a transaction message about the reason |
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I'm not saying dev will dump, but I'm surely not setting my rigs up to "donate" my efforts / electricity / money / work to someone else..?!
Of course you won't, because everything in life comes for free right? Servicing nodes, paying development costs off all sorts, marketing that goes beyond bitcointalk hype. Not every person with right skills is so altruistic as you are and unfortunately they do require incentive to spend their time, skills and effort to create something meaningful. What sort of "effort" on your part are you talking about? Every miner would be getting full amount (so you are not donating anything by reducing your income) but small contribution on top for ongoing support and development of the coin will be sent to a newly formed Foundation. Foundation which in transparent way will show what the coins are spent on with the clear progress bar. If you think this is not value added to the coin please wake up. If the people marketing this coin believe in its success and the traction it'll gain why don't they set up a community pool with a 5% donation? So whoever supports the coin can mine there, those who don't can mine on one of the 0-2% pools. why all should profit snd only a few really support! people who buy support bx create buy demand people eho mine support with foundation share everyone helping to archive our common goal success for diamond |
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i guess u forget any pos reward will create no foundation share at all
if u dont like to mine with this coin setup
buy coins and mint to avoid support coin development and marketing
none forced to mine people complain diff to high anyway ;-)
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good feedback thx
split algo form other features into 2 releases would be 2x a hardfork
in my opinions is go with all in one big bang release is the way to go
please fellow diamond lovers
we dont talk here about a certain delay in wallet release
we just talk about how we will react when we cant finish groestl implementation in 14 days
where or dev says he expect the chance he can do it in 14 days is 80% yes 20% no
so its high chance we will follow exact release plan from first posting
but our policy of transparence make me discuss this possibilities already with u
noone should be surprised if a delay will be required
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people want good news.... how about this one? i did run new client without groestl included a few minutes ago on real dmd network send and recieve payments and so on everything we did was working smooth the only reason why we keep wallet not released for now is because we try to release all the other changes together with groestl algoswitch to avoid additional hardfork later on we have now still around 14 days to finish groestl implementation which is coming from an existing blockchain isnt as easy as start a new groestl blockchain worst case if we run into unexpected obstakles it have still no big impact on whole project we could everyday release without groestl allready i want to ask u: how important is for u that groestl is in initial wallet release included? - would a second hardfork a bit later with groestl and additional UI redesign be ok for u too?
- would a releasedate with first cointrigger later than totalcoins 400000 be ur wish if required to stay with 1 hardfork for every change?`
- would u prefer to have new wallet released asap without waiting for groestl and have 50% pos activated asap too and a gurantee second hardfork required later?
comunity u like to have insight in dev decicions here we go! i wana avoid the vaporware rumor at all cost when i was in reality just using new wallet to send a real transaction a few minutes ago  your feedback is welcome |
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Now I understand the panic buy at cryptsy
With a total of only 4.38 million DMDs to be minted and only 377,425 currently mined a lot of people see this as a great long term coin to hold. It's a hard coin to mine which makes it cheaper to buy at the current prices than to mine. ~362000 dmd existing now only 1500 new carved each days (in the rought dmd stoneage there was a time when 0 value pos block where created that the reason less coins than blocks existing today) |
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Now I understand the panic buy at cryptsy
panic is to see what total coins below 400000 real mean i mean its really hard to get them and the low prices now are still like free diamonds keep in mind diamond price was allready at 0.0045 in the past and now when every diamond u buy will pos u at least a second one in the main coin rollout phase value is like double of that easy |
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Grøstl algo as in the coin of the same name, myriad or something new?
groestl is a algo not developed for cryptocoins but as a general purpose security algorythm same as SHA256 (bitcoin algo) groestlcoin was the first which used this great algorythm for a crypto currency and diamond will take a similar approach of implementation so grs able miningsoftware will be able mine dmd too |
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DMDv3 coinrollout (updated 2017-09-16)  EVERYTHING BELOW IS JUST HISTORIC DATA FOR DOCUMENTATION PURPOE new design coin rollout picture 2015.06.28  coin rollout pic 2015.05.14  VISUALIZATION OF DIAMOND ROLL-OUT PLAN
(TOTAL COINS AND POW/POS COINS PER MONTH) RED LINE = new coins each month produced by POW (numbers on right side) GREEN LINE = new coins produced each month by POS (numbers on right side) TOTAL COINS (numbers on left side) numbers on bottom of graphic are the months (the graphic represent a 30 year timeline) i think for now market price is driven by insta-selling miners daily *1500 diamonds have to be bought if people would sell instant but keep a closer eye on coin specs and check how coin roll-out will develop over next 30 years beginning with total coins 450000 a 50% POS will be simultaneous active with the 1 DMD POW reward each block and start the diamond rush (BLUE CIRCLE) on pic if u analyze that u can see that this POW mining paradise only last a few months (to be exact until 1 million total diamond are existing) later most of coins are produced by POS (GREEN ARROW) and to do so u need to have diamonds everyone who sell 1 diamonds instant lose like at least 2 diamonds..... because every diamond u mine now would at least double if u keep holding and pos it over time the whole design of diamond is to be a wealth storage coin aimed to be a good investmenti hope this visualization of coin specs long-term effect of on coin roll-out can help u realize how valuable diamonds will be once POW is reduced by 90% and high POS will be main source of coin creation that coins are required to create more coins (POS)will be the reason for lower availability of coins on exchanges and increasing prices remember only coins in ur wallet gather coin-age and can generate POS rewards  FAQ:
Post your questions about coin mechanics and ideas behind it.
I try to answer each day a few here.Q: Grøstl algo as in the coin of the same name, myriad or something new? A: groestl is a algo not developed for cryptocoins but as a general purpose security algorythm same as SHA256 (bitcoin algo)
myriadcoin & groestlcoin where the first which used this great algorythm for a crypto currency
and diamond will take a similar approach of implementation so grs able miningsoftware will be able mine dmd too
compared to scrypt it have less power useage and heat production on most GPU even below x11Q: people ask me what will happen once POS 50% is activated with my old coinage? and how POS work exactly A: Once we reach total coins of ~450,000 PoS is initiated and set to 50% per annum with minimum coinage 7 days and
no maximum on coinage. so the answer is if u buy at example now 1000 dmd and you open wallet in 2 month 1 days for minting (but only if the coins where send instant to your wallet from exchange every coinage u gather at exchange is lost once u transfer coin to your wallet) this would happen 1000*0.5/12*2=83.3 your 1000 DMD will create at this day enought POS rewards to be 1083.33 at the end of the day 1000 -> 1083.33 in 2 MonthsQ:whats coinage? and what happens when u activate mint mode in wallet: A: every day diamond are in your wallet they gather coinage.
example 100 diamonds with age 30 days are 3000 coinage
as long as u dont transfer the diamonds
or trade in the coinage into POS (proofe of stake) rewards (=activate wallet mint mode) this coinage gathers up endless.
after u have gathered at least 7 days coinage activate the minting mode of ur wallet will trade in coinage for POS rewards.
the ammount of POS reward depends on how much coinage u gathered up
and whats the actual pos reward setting on network (check coin spec describtion for details (stage1 50% stage2 25% stage3 5% stage4 1%) more details about POS: http://bit.diamonds/community/index.php/topic,46.msg376.html#msg376 |
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Price went up 200-300 %
how can that be please face the truth price is still awfull low we where at 0.0045 already with this coin what u see now is just the beginning we didnt even post our updated ANN thread..... guess what happens than...... |
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