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Author Topic: [ANN] Diamond (DMD) Evolution v 2.0 | Hybrid Security | 25% PoS  (Read 893502 times)
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cryptonit
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May 23, 2014, 09:27:54 AM
 #1081



SIZE BID on craptsy at .00054 - 7337 left from an original order of 7555 -
Interesting. I wonder why they don't buy up that will bring the price high.

thats easy to understand
whales not aim to increase coin value
they aim to increase their share of diamonds

diamond its all about longterm investment

if ya seek one week profit u wrong here

it was not planed that POS activate have to be part of next wallet and not already working

but the market reacting with low coin value is a good opportunity for investors
(low value is relative still its 2x pre announcement of coin relaunch)

only miners who instant sell are hurt

investors and miner who hold coins  dont worry at all

please keep in mind after total coins reached 1500000 diamond POW rewards will be drastically reduced
the main coin rollout mechanism from then on is via POS and this alone should make clear
that each diamond u be able buy this days so cheap will pay off multiple times the money u invested

if ya ask me for my  diamond investment tactic i can share it with u
it is to buy into diamond with as much fiat u can afford to declare as gone (this is required for any crypto coin investment..)
withdraw from exchange into your wallet and go every 40 days 1 day into minting mode

dont even consider to sell this diamonds in the next two years

and after that 2 years i would suggest to sell in small pieces just that  much diamonds to get back ur invested fiat with some extra bonus

u should have still a big amount of diamonds left in your wallet after that

and this wallet is then what we always did describe as main coin purpose
a storage of wealth


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May 23, 2014, 09:47:48 AM
 #1082


and we are world first coin that uses totalcoin to be able trigger the coin stages dynamical

We passed that stage about 2 hours ago (400,000 coins).  Is any PoS happening?  My oldest coins are a few days away from the 30 day minimum.
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May 23, 2014, 10:03:16 AM
 #1083


and we are world first coin that uses totalcoin to be able trigger the coin stages dynamical depend on the minting behavior of stakeholder
if less people mint and more coin-age be burned at transactions dynamical the high reward POS stage stay active longer
because we not trigger ad a defined block and choose instead a totalcoin ammount as trigger


Could you please elaborate and further explain what you are saying here? I know you're not a native speaker, but, like so many others have politely asked, could you work on a clearer, perhaps even more detailed and precise, explanation? Honestly, I didn't clearly understand anything of the above comment other than "world first coin". I'm thinking that maybe if you express yourself in your native language it might be better (or, ideally, both your mother tongue and English), and I mean that seriously since a google translation might actually be a big help.

Please bear with us as we bear with you.


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May 23, 2014, 10:38:50 AM
 #1084

HR. I'm pretty good at cryptic crosswords and I'm used to reading his posts, so I'll have a stab at it.  Grin

What he is saying that the various block halvings/PoS reductions etc will happen after a certain amount of coins are produced not arbitrarily at Block XXXX.  The coins have to be sitting in your wallet for 30 days before any PoS can occur, in your exchange wallet is not good enough and every time you move them the 30 day counter resets.

Now because changes to mining and PoS rewards only occur after a certain number of coins are produced, the more people buy/sell, etc means that less coins will be produced by PoS hence extending the time to the next reward adjustments.

I think  Shocked
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May 23, 2014, 11:10:26 AM
 #1085

I know the DMD dev team states that they wished to replicate the successes of Blackcoin by swapping over to groestl and adding PoS to the system; but for the end consumer such as myself we need some form of benchmark for progress. 

-With my BC wallet I can open my wallet for staking only, not unlock the whole thing. 
-With my BC wallet I can see what my stake is vs the network stake is and an expected stake time.
-With BC there is a DEV supplied/supported/configured pool that functioned on standard protocols at launch.
-I also had to edit the Diamond.pro file to get the wallet to compile properly; boost library is specified instead of minimum.
-No Checkpointing system in place.  Had to sync the entire 410k blockchain from scratch.  Should have a checkpoint at the last hardfork.

Don't get me wrong, I've been a DMD miner off and on since I favor low volume currencies for stability in the long run.  I see potential in the dev support channel the way it's designed, and I can see in the market depth that the PoS is having the desired effect.  I just want to see my .05 being used to work out bugs, not reinvent the wheel.   

Correct me if I'm wrong, but the BC wallet is also open-source? 


These are all very good points.

However, most of the things you say are cosmetic features, that are trivial to implement by just copying the code. Let's say, a day job, plus testing. At the moment, Diamond has other problems to resolve first, mostly results of long neglected code. Not that the code in most other coins is many better (hint: it is identical).
With Diamond aiming to be not a 'mine and dump' coin, it is likely many of these features will be implemented with time.

As II have strudied the code of many cryptocoins, it is however interesting for me to understand this statement about being able to mint, without "opening" your wallet.
This in theory is not possible, because in order to be able to "mint" you need to be able to create outgoing transactions. In order to do that, you need to be able to sign the transactions. In order to do that, you *must* unencrypt your private key(s).

Now, all of the cryptocoins I see implement the "for minting only" feature are in fact deluding the user. They *ARE* unlocking their wallets, but not permitting any sending of amounts with the UI. Amounts are (in some implementations) possible to send via RPC calls and .. if someone has hacked into your computer, they need nothing else but your private key -- would care less if *you* can send coins -- they will claim the coins using your private key(s) elsewhere anyway  (as this is what makes the keys "yours").

I will eventually study the darkcoin code as well, for any hints of better implementation. Smiley

Diamond v2 indeed uses available coin amounts as switch to drive coin mechanics. It means exactly that: if coins are burned out, the event will arrive later. This provides an interesting approach to inflation.

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May 23, 2014, 01:27:01 PM
 #1086

and we are world first coin that uses totalcoin to be able trigger the coin stages dynamical depend on the minting behavior of stakeholder
if less people mint and more coin-age be burned at transactions dynamical the high reward POS stage stay active longer
because we not trigger ad a defined block and choose instead a totalcoin ammount as trigger
Could you please elaborate and further explain what you are saying here?
Please bear with us as we bear with you.

trigger:
activate a change in coin rules

example:
Quote
most coins use triggers like

block 1-1000 = 1000 pow reward
block 1000-10000= 500 pow reward

or

first year = 20% pos reward
second year = 15% pos reward


in the case of diamond coin rollout we have a phase with high POW rewards and high POS rewards (1.05 dmd each POW block AND 50% POS (per anno))

our goal is longterm to have a coinrollout running 30+ years so it is important that our triggers who reduce POW rewards and POS rewards kick in at a special totalcoin amount

and u cant just make a excel list check how much coins exist each month and add the 50% POS (divided trought 12)
and by this estimate how the amount of total coins increase. every atempt to estimate now at which block we will reach 1500000 coins will fail

why?

because people can never mint all the theoretical coin-age
each transaction destroy coin-age which will be lost for POS rewards
and there might be some people who never go into mint mode.....
(lost wallets (computer broke and no backup of wallet.dat as example) lost passwords and so on)

so we invented the totalcoin amount trigger which will change the behavior of all wallets once totalcoins reach a trigger value
(console getinfo money supply = total coins)

this way no matter if a lot people POS their coins or a lot coin-age is destroyed and not minted into POS rewards our coin rollout speed is not affected

if less people mint the high POW rewards phase stay active longer and the total coins rollout speed stay around the same.

try calculate some of the mushroom like appearing coins and their features
u will find out lot of them stop to work in months or even weeks because POW and POS phase is over......
and a coin where no new blocks are generated is stuck..... no new block=no transactions working

diamond is having endless hybrid POW/POS network security and block generation
diamond is designed to be at least 30 years working without design changes needed
and we have lot of time to implement early enought a moneysink to make it a endless running system

shortterm people complain about not big rewards in a few weeks maybe
longterm people will complain about dev-less coins broken coins misdesigned coin-features

diamond is all about longterm and avoid all that traps


im sorry if to be able explain u the reason behind the coin design desicions maybe give reason for another questions

but i will try my best to answer follow up questions

regarding the diamond coin spec design i am the expert and i am able answer every question

they where the basic requirements for our coders

im not a coder myself and that isnt required
to design coin features and coin behavior

henry ford said:


i estimate if we would have asked people what they want the answer would be similar

"we want diamonds with more value"

what we did was to implement features that give your diamonds more value
each diamond u mine or buy now will reproduce itself in the hot coin rollout phase
at least once so basical every dmd now count for at least two DMD longterm






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May 23, 2014, 03:33:46 PM
 #1087

These are all very good points.

However, most of the things you say are cosmetic features, that are trivial to implement by just copying the code. Let's say, a day job, plus testing. At the moment, Diamond has other problems to resolve first, mostly results of long neglected code. Not that the code in most other coins is many better (hint: it is identical).
With Diamond aiming to be not a 'mine and dump' coin, it is likely many of these features will be implemented with time.

As II have strudied the code of many cryptocoins, it is however interesting for me to understand this statement about being able to mint, without "opening" your wallet.
This in theory is not possible, because in order to be able to "mint" you need to be able to create outgoing transactions. In order to do that, you need to be able to sign the transactions. In order to do that, you *must* unencrypt your private key(s).

Now, all of the cryptocoins I see implement the "for minting only" feature are in fact deluding the user. They *ARE* unlocking their wallets, but not permitting any sending of amounts with the UI. Amounts are (in some implementations) possible to send via RPC calls and .. if someone has hacked into your computer, they need nothing else but your private key -- would care less if *you* can send coins -- they will claim the coins using your private key(s) elsewhere anyway  (as this is what makes the keys "yours").

I will eventually study the darkcoin code as well, for any hints of better implementation. Smiley

Diamond v2 indeed uses available coin amounts as switch to drive coin mechanics. It means exactly that: if coins are burned out, the event will arrive later. This provides an interesting approach to inflation.

I'd like to start out by clarifying that when I stated that "devs wanted to replicate success of blackcoin", I had read that exact intent elsewhere in this thread.  If that was in error, I apologize for the assumption.  That was the basis of my intent of comparing what I consider a successful PoS coin/wallet vs the growing pains that DMD are experiencing.  The biggest problem in the CC area is the genital measuring problem.  Everyone wants to be "new and unique" and refuses to take the best of other coins because the feel that will dilute the "themness" of their particular coin. 

That being said, I get what you mean by needing to study a feature before implementing it.  I wasn't suggesting copypasta without looking.  I was pointing out that from what I can see from reading and for my own .05, the largest question on everyone's mind is not how staking works as an overall mechanic, but how that is going to affect their wallet individually and when.  I'm suggesting that if there is some form of priority board being maintained, that features that provide news or information to the user should be top priority.

There should be some priority given to a wallet readouts of "Staking [IS/NOT] enabled";"Current Stake XX%";" X Diamonds until Stake XX% ";" If Stake starts 00:00GMT today, your stake in 30 days will be: XXX DMD" 

Having that type of exacting info to the user would sort 90% of your user-end questions at the moment.  Users of the coin/software shouldn't have to forum dive to derive meaningful understanding about what their money is doing at a given moment, that drives confidence down.  Less user questions gives you devs more time to sort out all that "long-neglected code" without needing to be glued to forums all day.
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May 23, 2014, 04:20:33 PM
 #1088

There should be some priority given to a wallet readouts of "Staking [IS/NOT] enabled";"Current Stake XX%";" X Diamonds until Stake XX% ";" If Stake starts 00:00GMT today, your stake in 30 days will be: XXX DMD" 

Having that type of exacting info to the user would sort 90% of your user-end questions at the moment.  Users of the coin/software shouldn't have to forum dive to derive meaningful understanding about what their money is doing at a given moment, that drives confidence down.  Less user questions gives you devs more time to sort out all that "long-neglected code" without needing to be glued to forums all day.

Very true. However, some errors from the past need to be fixed first. Some sins done by who knows whom and when Smiley

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May 23, 2014, 08:18:38 PM
 #1089

This thread has become annoying and exhausting, offering no value with the current conversation.
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May 23, 2014, 08:45:15 PM
 #1090


im sorry if to be able explain u the reason behind the coin design desicions maybe give reason for another questions

but i will try my best to answer follow up questions

regarding the diamond coin spec design i am the expert and i am able answer every question



A quite well written, very understandable and informative post deserving of an expert.

I'm very much looking forward to follow-up questions.  Wink

. . . and learning more, of course.   Cool



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May 24, 2014, 03:18:55 AM
 #1091

Good job on the coin, had a look into it one day and like the direction.

Keep up the good work.

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May 24, 2014, 03:49:12 AM
 #1092


I think its caused all these coding problems to be honest.     I still watch the thread and the same problems exist.  This cryptonit whatever is killing the coin.  Its not we want a proper written reply but the deflection and smart arsed remarks to genuine questions  is the problem.  Its a cant be bothered attitude. 

They could get all the trust back and more if they left the communication to the forum to a native english speaker - as thats your audience mainly.

Price dropped to half after a massive dump - probably the early miners who had such a low difficulty from the get go after the code change to groetl.

No, the problem are smart arsed accusations of us not doing the job, which we're clearly doing (behind the scenes). None of the Diamond team members whoever it is now and was in the past got a single Diamond out of it. We've invested a lot of our own money into infrastructure upkeep and other measures that allowed this coin to survive for so long. The amount of time and effort we've already put into it and are intending to put is well worth 5%. For now and foreseeable future we all work not for "skimmed" Diamonds, but because we believe in an idea. Do you (and I'm responding here generally) equally criticise mining pools for applying 2% fees while their work is limited to providing the static service?   

It's the smart arsed comments that are the direct cause of 'whatever' attitude and for sure are not helpful. Cryptonit is doing his best to respond to whatever question he is asked. Bear in mind that we don't always have answers and need to consult one another, so don't expect him to be an expert in every single issue. Be realistic people, we are just humans.

WayForward, what you think is your own opinion, and my opinion is quite contrary to yours, it's cryptonit that makes this coin alive and dumping on him some sort of responsibility for coding problems is just ridiculous in my view.  There are no coding issues at the moment and developmental and testing process goes smoothly as never before.

If you don't appreciate more direct contact with the developers (that you have here) that's fine. We can resort to making announcements only, so the coin can be judged on its own merits.

You are making a point here, but so do those who have asked legitimate questions (like I have done in the past) or even given legitimate recommendations. They were either brushed aside, not answered or whatever simply because Mr. Cryptonit is unable to accept constructive criticism. In fact he likes to answer questions that have been answered dozen of times, not sure what's the purpose.

As I said earlier, and this is the third time I mention this but a clear list of who is who would give people a clear understanding of who does what and what their background is. You could post it in the OP so that it is clear to everyone. If DMD team have nothing to hide and strongly believes in this coin (as has been regurgitated over and over) then this would give the opportunity to people to trust those working in the background. Trust comes with transparency.

Someone doing its best is sometimes not enough. You might not like me saying this but I don't see how not understanding half of what Cryptnotit says in his posts is helping the coin. As much as I respect people and his role and efforts in answering people's comments, I have politely asked him if he could do an effort and all I got was a condescending egocentric answer. I also made some recommendations regarding the wallet. Not a thank you, not even an acknowledgement. So yes people complain and that's legitimate too. Your coin will only work if people send their hashes your way. Remember that.

Yes there are smart asses comments sometimes and yes some people are here to troll, but as I said earlier, instead of answering to those perhaps it would be better to publish updated info in the OP, refrain from answering to trolls and answer those questions that are new, helpful or still unanswered, in a polite fashion and IF possible in a understandable English. I, myself am not a native English speaker but I do an effort.

Beyond the English, what is more important though is professionalism. That implies, and I repeat, not falling for other's dumb comments and keeping things straight.

This is not a personal attack but a comment from someone who wishes to believe in DMD. I would appreciate some respect in return and constructive answers. If I did not care I wouldn't waste my time writing this.

Think about it equally.

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May 24, 2014, 01:44:25 PM
 #1093

The 5% are salary. They seem to go to waste.

Recruit that polanski guy as community manager and danbi for tech stuff. (I'm missing someone else really helpful probably)
Or me to update that first post and the website. Really, anyone could do better in terms of overview, updates, guides etc.

Most clones don't have that as well but you wanna be better than these, right?

Just my thoughts.
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May 24, 2014, 02:16:03 PM
 #1094

I am pleased to announce that I have written the first draft for Diamond DMD.  Please say if any information is incorrect.  Also I need help completing it.  This section will be included in the book (Cryptocurrency "The Alt-ernative") in the summer.  Any donations will be highly appreciated towards making the publishing a reality.  


Donatikon address:  dYbJYA5zUqjoLhM5H2Ni2oC6gL8UkRebVT

Here are the pages:





Thanks for all your support


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May 24, 2014, 02:56:10 PM
 #1095

>any more exchanges
yes, on Coins-e
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May 24, 2014, 05:26:59 PM
 #1096

>any more exchanges
yes, on Coins-e

Thank you.  Do you know when trading began on Coins-e?
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May 24, 2014, 10:31:47 PM
 #1097

No, but I just noticed the date you put for cryptsy.
It's in the future?^^
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May 24, 2014, 10:40:34 PM
 #1098

@tyke

add exchanges
sharexcoin.com
allcrypt.com

add that its the first coin that use total coin amount triggers instead of block number triggers
to be able follow the coin rollout plan no matter how many people mint

and the estimate coin rollout time until 4.3 million are reached is 30+ years

all that time it stays a POW/POS hybrid security coin

edit:

i did read again through ur paper and it missed the info that since groestl actiove POS 50% is active too
which is also pretty unique to have max POS and max POW active simultan active in a 1.5 years heavy coin rollout phase (in this around 1.5 years we will reach total coins 1500000 ~35% of max coins)
(which it not now because a bug in pos minting required a fixed wallet release) but in theory it was the plan


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May 25, 2014, 11:45:49 PM
 #1099

when trying to send coins with my 2.0.1 wallet i get the error that the coins i want to send exceed my balance , however they dont , how do i fix that ? Tongue
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May 26, 2014, 12:21:43 AM
 #1100

when trying to send coins with my 2.0.1 wallet i get the error that the coins i want to send exceed my balance , however they dont , how do i fix that ? Tongue

Change the amount so that the amount you are sending INCLUDES the network transaction fee amount.
So if you are sending 1.12345678 and you only have 1.12345678 and the transaction fee is usually around 0.001...

So you would send 1.12245678 and the network transaction fee will "eat" that 0.001, emptying your wallet...or in the case that you had...you were trying to send just a tad more than you have (inadvertently) so the wallet stopped you from going negative, which is a good thing.

So you should DECREASE your transaction amount by the amount the DMD network charges (fee) to make the transaction.


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