Bitcoin Diamond
The Investors' Crypto Currency
Why Bitcoin Diamond?
Bitcoin Diamond borns from the need of having a crypto currency that is completely focused on the crypto investors. Those that actively support the currency by putting their faith into this new technology with their monetary resources. The recent increase of tokens and coins has harmed a lot of small investors because of the risk involved in each new company. We feel that the community deserves a secure currency that they can trust. A currency that will constantly increase in value as the supply is reduced. The miners will also benefit for contributing to this project. We want to go further from the original electronic cash system idea from Satoshi Nakamoto, we want Bitcoin Diamond to be the most valuable and secure store of value in existance.
What is Bitcoin Diamond
Bitcoin Diamond is a fork from the original Bitcoin with a maximum supply of 2.1 million BTD Coins. Because of this scarcity, each Bitcoin Diamond is extremely valuable. If the original Bitcoin is for large investments and transactions, Bitcoin Diamond is the perfect solution for gigantic investments and transactions because of it's huge value. It's ideal for users and organizations that have lots of resources and want to deposit their money in a safer, valuable currency.
How its going to work?
We'll keep the original proof-of-work algorithm SHA256 since it's the most widely used system by Bitcoin miners. This will facilitate the integration of Bitcoin Diamond on the market. There will be a total of 2.1 million Bitcoin Diamond coins generated from the original Bitcoin blockchain. This means that we'll keep the past blockchain and the amount of Bitcoin Diamonds will start from 0 when the hard fork is made. There will be 32 halvings and the total amount of 2.1 million BTD will be completely generated by the year 2100. We want to be able to support this currency as much as possible to keep developing and improving it further over the years, that's why we'll pre-mine up to 1000 blocks if we don't get enough donations to keep the project forward. This means that we'll take donations from anonymous users and if we reach our goal of 11 million dollars in donations, we won't execute the pre-mine. If the goal is not reached, we'll be forced to do a pre-mine in order to generate the necessary cash for the project. We'll implement replay protection with a modified sighashing algorithm. The project won't be released until the replay protection is complete and secure. We'll implement a secure system to distribute the funds constantly in the next 5 years, with deposits every 3 months, with an initial deposit the next day after the hard fork.
Why 11 million dollars to fund the project and maintain it over the years?
We'll create a team of 6 expert developers and we'll need to pay each one of them fairly. That's why we'll implement the following payment strategy:
- We'll need to support the project for at least 5 years; considering that one senior c++ programmer with experience in Bitcoin earns about $200,000 per year, the calculation is the following: 6 developer * 5 years * $200,000 yearly salary = $6,000,000 USD dollars.
- Also the founder will take 1 million per year as a reward for investing his efforts in creating this new Crypto Currency. That is $5,000,000 USD dollars.
- In total we'll need $11,000,000 USD dollars to be able to maintain and grow this project in the future.
To make donations, please use this address only: 3CpZ7sYCGYVCz5y3pruZwLnbDbK3NrbPwr
It's totally anonymous and open to everybody.
When Bitcoin Diamond will be released?
It will be released in May 1st of 2018 at 12am EST, on the next block to do the hard fork. We'll work intensively to implement the replay protection system, if we can't implement it by that date, we'll delay it until it's secure and safe to use Bitcoin Diamond. The whitepaper will be released in 2 weeks with detailed information of mining, wallets, team members and development specifics. The code will be updated frequently as we add developers to the team and it will be completely open source.
Official Channels
Take a look at these information channels that we'll use to publish official information about the development of Bitcoin Diamond:
- Official website: bitcoindiamond.io Make sure that its the correct URL every time you go to that page to avoid phishing attacks.
- Official slack: bitcoin-diamond.slack.com We'll post official updates on the #announcements section including the whitepaper and development updates.
- Official github:
https://github.com/BitcoinDiamond/BitcoinDiamond- Official twitter: diamond_bitcoin or
https://twitter.com/diamond_bitcoin- Official email:
bitcoindiamondoriginal@gmail.com For important requests. If you're a c++ developer or you have experience developing Bitcoin code, make sure to send a email with the subject: "Working on Bitcoin Diamond" We'll accept up to 4 developers this way with the discussed salary.
Bitcoin Diamond, The Investors' Crypto Currency
