[ANN] Diamond (DMD) Takeover! Update v1.0.4 | NEW website, pool, block-explorer

[dadon]

i got 5002 no exaggeration i would like some more but im not rich, i just got lucky on quark picked up 600k for $300 on ebay before it hit headlines, and i know i will make money on them and DMD looks awesome but i will not sell any more qrk so if i could get a few more k of diamonds i would be more then happy, im not greedy, what do you think, they say btc could be worth 10k-100k is it possible aswell for DMD? it makes me wonder

[skywave]

hmmm - is the block network down..? all my gpus are like frozen on time :02 after the hour..

later: oh well looks like it's back on..

[gmg]

i got 5002 no exaggeration i would like some more but im not rich, i just got lucky on quark picked up 600k for $300 on ebay before it hit headlines, and i know i will make money on them and DMD looks awesome but i will not sell any more qrk so if i could get a few more k of diamonds i would be more then happy, im not greedy, what do you think, they say btc could be worth 10k-100k is it possible aswell for DMD? it makes me wonder

DMD is five times more scarce than BTC. So, all else being equal, it should be worth five times the price of BTC!

However, 'all else being equal' is far, far from true: community support, awareness, services, exchanges, and many other things are lacking. If these proceed as with BTC, then who knows: in a couple of years you may be sitting on 5 million dollars worth of DMD 

[DarkKnight]

i got 5002 no exaggeration i would like some more but im not rich, i just got lucky on quark picked up 600k for $300 on ebay before it hit headlines, and i know i will make money on them and DMD looks awesome but i will not sell any more qrk so if i could get a few more k of diamonds i would be more then happy, im not greedy, what do you think, they say btc could be worth 10k-100k is it possible aswell for DMD? it makes me wonder

DMD is five times more scarce than BTC. So, all else being equal, it should be worth five times the price of BTC!

However, 'all else being equal' is far, far from true: community support, awareness, services, exchanges, and many other things are lacking. If these proceed as with BTC, then who knows: in a couple of years you may be sitting on 5 million dollars worth of DMD 

A bird in the hand is worth two in the bush. 

BTC could be worth $100 tomorrow. Some official in the PROC Gov't makes an announcement and overnight BTC loses half it's value. Yeah, it recovered SOME, but it's hardly a stable commodity. And is what BTC is, a commodity, not a currency. People mine/trade BTC like Gov'ts pump/trade oil. The price is just as volatile too.

Scarcity has nothing to do with it. Your advice is false economy. The coins only have value if people are willing to trade in them. Diamonds *could* be worth $1k, if someone was offering that much for them. Even then, are they the only one offering $1k? A 5,000 DMD sell wall could easily kill the price on it, because there just isn't enough liquidity to support it. As more and more Alt-coins are released, further diluting the liquidity of the market, spreading it out between coins. It will get harder to trade over time, not easier. There is no fundamental reason why *any* altcoin should gain value, other than it being traded and accepted more. Holding on to them is counter productive to that goal. Right now, it's just a game between currency speculators and miners.

[alyons]

How many confirmations does it take to mature a mined block?

[alyons]

How many confirmations does it take to mature a mined block?

Got answer: 50

[zuper]

Hello ppl

I just updated the main thread with a new pool (dmd.notnull.org 0.5% PROP) which will be available soon.

Also, some good news:
Coins-e.com is working on DMD/BTC, which will be re-listing as soon as the tests are done.

[alyons]

Hello ppl

I just updated the main thread with a new pool (dmd.notnull.org 0.5% PROP) which will be available soon.

Also, some good news:
Coins-e.com is working on DMD/BTC, which will be re-listing as soon as the tests are done.

Thanks, The pool is open for registration now. The block chain is still downloading, however the stratum mining layer is running and will ring alive once the chain is synced. There is only about 30k more blocks to download now ("blocks" : 182469) of ~216k blocks.

Thanks to all, have a merry xmas!

[alyons]

Hello ppl

I just updated the main thread with a new pool (dmd.notnull.org 0.5% PROP) which will be available soon.

Also, some good news:
Coins-e.com is working on DMD/BTC, which will be re-listing as soon as the tests are done.

Thanks, The pool is open for registration now. The block chain is still downloading, however the stratum mining layer is running and will ring alive once the chain is synced. There is only about 30k more blocks to download now ("blocks" : 182469) of ~216k blocks.

Thanks to all, have a merry xmas!

Block chain is ready for mining now, all is well. merry xmas all!

[dadon]

i got 5002 no exaggeration i would like some more but im not rich, i just got lucky on quark picked up 600k for $300 on ebay before it hit headlines, and i know i will make money on them and DMD looks awesome but i will not sell any more qrk so if i could get a few more k of diamonds i would be more then happy, im not greedy, what do you think, they say btc could be worth 10k-100k is it possible aswell for DMD? it makes me wonder

DMD is five times more scarce than BTC. So, all else being equal, it should be worth five times the price of BTC!

However, 'all else being equal' is far, far from true: community support, awareness, services, exchanges, and many other things are lacking. If these proceed as with BTC, then who knows: in a couple of years you may be sitting on 5 million dollars worth of DMD 

A bird in the hand is worth two in the bush. 

BTC could be worth $100 tomorrow. Some official in the PROC Gov't makes an announcement and overnight BTC loses half it's value. Yeah, it recovered SOME, but it's hardly a stable commodity. And is what BTC is, a commodity, not a currency. People mine/trade BTC like Gov'ts pump/trade oil. The price is just as volatile too.

Scarcity has nothing to do with it. Your advice is false economy. The coins only have value if people are willing to trade in them. Diamonds *could* be worth $1k, if someone was offering that much for them. Even then, are they the only one offering $1k? A 5,000 DMD sell wall could easily kill the price on it, because there just isn't enough liquidity to support it. As more and more Alt-coins are released, further diluting the liquidity of the market, spreading it out between coins. It will get harder to trade over time, not easier. There is no fundamental reason why *any* altcoin should gain value, other than it being traded and accepted more. Holding on to them is counter productive to that goal. Right now, it's just a game between currency speculators and miners.

but the world is only just discovering crypto, wallstreet is going to move in soon and all crypto will see large increase especially the ones on major marketcap sites because they stand out + diamond the name stands out to a certain sort of investor, another thing is the dollar will not be around forever and more and more people are realizing  this they will need a place to store there wealth and btc and things like diamond could be perfect, btc aint going nowhere in my opinion big investors, smart investors have expressed there confidence in it, that says alot

[dadon]

what gives the us dollar it's value(oil) and confidence, it is backed by nothing else, so whats the difference?

[markm]

Isn't this a so called "Proof of Stake" coin?

With someone somewhere sitting on a "checkpoint server" with which they can screw around with the whole thing?

People were smart enough to realise Solidcoin, whose centralisation was twelve "trusted nodes" was not a good idea, yet somehow they fall for a centralisation that maybe involves only one "trusted node"

-MarkM-

[Hippie Tech]

Could this be how muddafudda f'd COL and likely other coins ?

COL has been PoS only for months...

Are PoW coins vulnerable to this aswell ?

[dadon]

isn't diamond POW and POS, and isn't that a really good thing? everything i have read suggests it is, isn't DMD just like novacoin, with no premine far less coins and a better  name, sounds like a winner to me

[gmg]

Scarcity has nothing to do with it. Your advice is false economy.

Ok, here's some Economics 101:

The price of any good in a competitive economy is determined only by two factors: supply and demand. Scarcity means supply is smaller, so it has EVERYTHING to do with it.

If demand for BTC was exactly the same as demand of DMD, then 1 Diamond would be worth 5 BTC or $3,500 at today's prices. The fact that a DMD is today worth 3 thousandths of a BTC suggests only one thing (ok, apart from price distortions): that demand for DMD is today in the order of ten-thousandths of that of BTC.

If awareness for Diamond raises to any decent level at the crypto-community, you can do the math and figure out how much DMD is potentially worth.

All the above are not meant to say that Diamond WILL rise. It merely suggests that any crypto-currency that manages to solve the demand part of the equation has a great chance of succeeding, especially those (like DMD) that are scarce as well, so they've already solved the supply part of the equation.

And this is the reason why I'm urging the community to do more to support the coin. The recent takeover, pools, and block chain explorer have managed to raise the price 100fold (it used to be around 3,000 satoshis and now it's more than 300,000). Imagine the potential if the dev team support continues. Imagine your 100 DMD worth 500 BTC 

Merry Xmas to all!

[dadon]

merry Christmas mate, hopefully the dev's get right behind this one, im thinking of a few ideas to suggest, i could make some video's for youtube or something, the speed and security of DMD are a step beyond BTC in my opinion, we need to let people know about this one

[markm]

Scarcity has nothing to do with it. Your advice is false economy.

Ok, here's some Economics 101:

The price of any good in a competitive economy is determined only by two factors: supply and demand. Scarcity means supply is smaller, so it has EVERYTHING to do with it.

If demand for BTC was exactly the same as demand of DMD, then 1 Diamond would be worth 5 BTC or $3,500 at today's prices. The fact that a DMD is today worth 3 thousandths of a BTC suggests only one thing (ok, apart from price distortions): that demand for DMD is today in the order of ten-thousandths of that of BTC.

If awareness for Diamond raises to any decent level at the crypto-community, you can do the math and figure out how much DMD is potentially worth.

All the above are not meant to say that Diamond WILL rise. It merely suggests that any crypto-currency that manages to solve the demand part of the equation has a great chance of succeeding, especially those (like DMD) that are scarce as well, so they've already solved the supply part of the equation.

And this is the reason why I'm urging the community to do more to support the coin. The recent takeover, pools, and block chain explorer have managed to raise the price 100fold (it used to be around 3,000 satoshis and now it's more than 300,000). Imagine the potential if the dev team support continues. Imagine your 100 DMD worth 500 BTC 

Merry Xmas to all!

That is almost totally pure unadulterated bullshit.

The demand for a currency has almost nothing to do with how many decimals or how many trailing zeroes the currency has.

1/21000000th of all the DMD that will ever exist, or 1/2100000 of all the bitcoins that will ever exist, or of all that do exist at a given moment, is totally independent of how many digits it takes to write down the number.

Basically if the total demand for a currency happens to be demand for enough currency to buy a loaf of bread, for example, then regardless of whether a loaf of bread's worth of the currency is 1.00 such as in, say, dollars, or a larger figure, such as that same value aka demand might look when expressed as Yen, or the far far larger number that it might be when expressed in DeVCoins or in Zimbabwe hyperinflation dollars, one loaf of bread worth of a currency is one loaf of bread worth of the currency.

The only way a currency is "rare" is if the entire total amount of that currency, all of it that exists, is not enough to buy that loaf of bread.

So basically in order to be rare, a currency has to be so rare that the entire pile of it ever minted is not enough to buy what is demanded, such as a loaf of bread.

In short, the less a currency is worth the "rarer" that currency is.

-MarkM-

[gmg]

Dadon: You should send a PM to Zuper, he's coordinating the whole effort I think. Videos would be great for the main DMD site as well (www.dmdcoin.net).

I agree about the speed. I've used both bitcoin and Diamond for transactions and I'm really impressed with Diamond's speed.

Security is another thing: in theory both coins should be equally secure (with DMD having a small lead due to PoS). But, security is ultimately a function of two things: dev support (we're good here) and hash power. I was mining DMD when difficulty was 0.20, so I'm really happy now that it has reached 3.0-4.0 and is stable there. But, unless I see something like what LTC had last year (around 15ish), I'm always afraid of forks, attacks, etc.

Another reason to have the community actively supporting the coin. Just by keeping on mining it, we can do a lot!

[dadon]

gold has always held value, because it's rare, Evan before it had little use apart from being soft and easily workable, so it sort of does, gold has value because it's rare and cant be reproduced it must be mined so it's value is determained by the man hours it takes to get out of the ground, and it's scarcity no different to btc or diamonds

[dadon]

Dadon: You should send a PM to Zuper, he's coordinating the whole effort I think. Videos would be great for the main DMD site as well (www.dmdcoin.net).

I agree about the speed. I've used both bitcoin and Diamond for transactions and I'm really impressed with Diamond's speed.

Security is another thing: in theory both coins should be equally secure (with DMD having a small lead due to PoS). But, security is ultimately a function of two things: dev support (we're good here) and hash power. I was mining DMD when difficulty was 0.20, so I'm really happy now that it has reached 3.0-4.0 and is stable there. But, unless I see something like what LTC had last year (around 15ish), I'm always afraid of forks, attacks, etc.

Another reason to have the community actively supporting the coin. Just by keeping on mining it, we can do a lot!

thanks mate i will email him and start working on a video asap