[ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65%

[cryptonit]

https://bit.diamonds/community/index.php/topic,165.msg1269.html#msg1269

Thank you everyone for taking part in this year’s DMD Diamond birthday cake competition.
As always your effort and dedication were amazing and as always it was incredibly difficult to choose a winner as all your work deserved being rewarded.
The consensus was achieved through multi stage voting that resulted in selecting 5 finalists and then the winners. Here are the results:

1st place – HALLARED



2nd place - EMMYTIM  



2nd place – YELENA



There are two second places with 100 DMD reward each. There is no 3rd place.
However, the two contestants who didn’t make to the podium will be rewarded with 10 DMD each.

4th – DIAMOND_MAZIEEKA



5th - DASSJDK



As we mentioned above, all the works were excellent and we feel that every contestant should get a reward.
This is why BB2EBB, EXTRAWELT, HALLER, CAPRICOINN, HSBOOKWORM, KITKAT and CARFACE receive 4 DMD each

We hope you enjoyed the whole experience and next year we’ll again see your entries.

May I ask everyone to contact me directly and provide your DMD Diamond addresses to which we’ll deposit the prizes!


(on DMD Forum)

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[M1ST3R]

Is my solo mining working?  This is screenshot of my CCMiner.

Look like it works fine.  Solo mining depends almost solely on luck, and at currently very high difficulty of over 200, it probably take a while for you to solve a block.  Good luck!!!

[shveicar]

Excellent cakes, I would have gotten with pleasure one of them or even a few for the birthday 



Thanks to everyone who participated in this contest.

[Trimegistus]

whitepaper will be released today evening! (EUROPE timeframe)

Where is the whitepaper? It's 00.22, Friday, July 14, CET

This is not a good sign...  

[popshot]

DMD Diamond 3.0 White Paper


Thank you to all the people, both DMD Diamond Foundation members and fantastic Diamond Community, who have contributed with their input to this document and support over the years which inspired us to move forward and continue to develop DMD Diamond with passion.

This white paper is the first draft. The final iteration will include detailed description of DMD Diamond 3.0 parameters and adjustment options for the zero micromanagement Diamond Proof of Stake engine (split and merge mechanics).

[M1ST3R]

DMD Diamond 3.0 White Paper


Thank you to all the people, both DMD Diamond Foundation members and fantastic Diamond Community, who have contributed with their input to this document and support over the years which inspired us to move forward and continue to develop DMD Diamond with passion.

This white paper is the first draft. The final iteration will include detailed description of DMD Diamond 3.0 parameters and adjustment options for the zero micromanagement Diamond Proof of Stake engine (split and merge mechanics).

So in DMD 3.0, the masternode get the lion's share of every POS block - 65% for masternode vs 35% for POS.
That's 1.5275 DMD for masternode and 0.8225 DMD for POS block finder.

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

[shveicar]

So in DMD 3.0, the masternode get the lion's share of every POS block - 65% for masternode vs 35% for POS.
That's 1.5275 DMD for masternode and 0.8225 DMD for POS block finder.

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

Yes, Masternode (MN) has a slight advantage over POS.
But the exact percentage of reward will depend on the number of active POS wallets and the launched MN
This is a schematic image for the future network



Here are some more illustrations that reflect the speed and density of transactions in comparison with bitcoin

[Woody20285]

Hmmm... It is what it is! But I don't think a 65% MN 35% POS
split of the block is a slight advantage. Approx. 2:1 is significant.
Not an objection because the MN ties up 10k DMD's but, it was
stated many times that MN would be a slight advantage over POS.
Examples given were 25% POS and 30%+ MN. If the block rewards
are set for about 25% annual return, and 2/3's goes to MN doesn't
that mean that the POS of 25% becomes 12.5%. Again not a complaint,
as I will probably run 2 MN's but, just seeking clarity. What am I missing?

[Woody20285]

A question: With fixed block rewards, it becomes
important to have coins in many blocks vs., say 1
large block. Has any testing been done on the
best block size to POS in a reasonable time while
not having too may coins in 1 input block?

[davembg]

So in DMD 3.0, the masternode get the lion's share of every POS block - 65% for masternode vs 35% for POS.
That's 1.5275 DMD for masternode and 0.8225 DMD for POS block finder.

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

Yes, Masternode (MN) has a slight advantage over POS.
But the exact percentage of reward will depend on the number of active POS wallets and the launched MN
This is a schematic image for the future network

Here are some more illustrations that reflect the speed and density of transactions in comparison with bitcoin

Masternodes will have a huge advantage over PoS - not slight.
Thus, >1% of current coin holders will have 65% of new coins and 35% for the remaining 99%.
With the early (and unscheduled) sunset of PoW, this is quite a change to the previous documented roadmap.

It seems it will be an advantage for smaller holding to combine their coins and form a masternode.
I'll be working on a trustless method for smaller investors to get a share of masternode earnings (nearly 2x over PoS).
PM me if you're interested.

Also, exchanges may not adopt the new blockchain as quickly as the community.
Hopefully, won't cause a huge a bubble as often happens with other hard-forks.

I'm excited about the new path forward, but, it's a significant departure.

[big_coins]

Little worries about treasure digging.

Does this mean for example, If I send some coins to a paper wallet abd give them to as a gift to a new born relative to hold until they are 18, in 18 years when they come to sell them they will find they have been stolen by 'treasure diggers' ?

If this is the case this needs to be removed 100%.

[shveicar]

Little worries about treasure digging.

Does this mean for example, If I send some coins to a paper wallet abd give them to as a gift to a new born relative to hold until they are 18, in 18 years when they come to sell them they will find they have been stolen by 'treasure diggers' ?

If this is the case this needs to be removed 100%.

I think that you are worried in vain.
This function is created to ensure that the number of coins in the Diamond system remains stable throughout the lifetime.
Thus, MN holders and wallet holders will receive a constant POS income even when the reward falls to less than 1% per annum.
This is a serious project created for existence many years.
It is the preservation of the total number of coins in the system on one level, which guarantees reliability and safety of work for future stores and services.
All you need is to run your wallet once every 10 years.
It can be a light wallet for a smartphone or Electrun wallet running in your browser.
As soon as your wallet appears online, it will be considered that it is not lost.
If you keep the private key on paper, then the future development will allow you to almost instantly import and export a private key with one mouse click, so that you can tell that your address is alive.

Once in 10 years -this is a long time.
Or for this long time you do not want to receive your POS reward and tell once for a nodes in the DMD network that your address is live?

[crazyivan]

People, please have a detailed look at the document and try to understanding it before you start commenting.

We re all here on the same side trying to improve and enhance DMD Diamond. We all want to see it reach $5 or $10 per coin one day. Well, to do that, we need to become better and better. A lot of time and energy has been invested into these improvements, please try to understand that.

Also, community feedback is very important for us and further future improvements based on it are possible and welcome.

[big_coins]

i don't care if its 10 years or 20 years until my wallet is stolen.

DMD 3.0 now means cold storage is NO longer an option.

For many people who use cold storage as they may be old, ill, etc it really doesn't matter are now left abandoned.

No use saying 'oh just make a hot wallet every x years' this defies the whole security of cold storage.

This autosteal feature is VERY bad, if you really worried about old coins then come up with another method other than stealing.

Very bad day for DMD reputation when it comes to taking others legally held coins.

[cryptonit]

the 35/65 split of rewards is to guide coins into masternodes
yes until around 100-120 masternodes are filled MN are very rewarding
once that targetnumber is reached the advantage above POS is just a little

its a self adjusting system the 35/65 reward split doesnt tell ya how much u will earn
the ammount of competition will tell ya

if there are 100 masternodes active they will earn around 10 DMD per day
if there are 150 masternodes online they earn lik 6.6 DMD per day

the more DMD are in MN the less DMD are competing to seek POS blocks
that means people who active run POS earn more if more coins move towards masternodes

self adjusting

in some cases its even possible that POS start to earn more then MN
and then coins will flood back to POS and make sure the network is always proper secured

self adjusting

[cryptonit]

i don't care if its 10 years or 20 years until my wallet is stolen.

DMD 3.0 now means cold storage is NO longer an option.

For many people who use cold storage as they may be old, ill, etc it really doesn't matter are now left abandoned.

No use saying 'oh just make a hot wallet every x years' this defies the whole security of cold storage.

This autosteal feature is VERY bad, if you really worried about old coins then come up with another method other than stealing.

Very bad day for DMD reputation when it comes to taking others legally held coins.

nothing is stolen u are proper informed about the DMDv3 ruleset 10 years in advance
u can choose to sell ur coins if u dont like it or spend 1 min every 9 years to secure ur coins

if u use ur coins as intended to run MN or POS ur coins are always save

[big_coins]

i don't care if its 10 years or 20 years until my wallet is stolen.

DMD 3.0 now means cold storage is NO longer an option.

For many people who use cold storage as they may be old, ill, etc it really doesn't matter are now left abandoned.

No use saying 'oh just make a hot wallet every x years' this defies the whole security of cold storage.

This autosteal feature is VERY bad, if you really worried about old coins then come up with another method other than stealing.

Very bad day for DMD reputation when it comes to taking others legally held coins.

nothing is stolen u are proper informed about the DMDv3 ruleset 10 years in advance
u can choose to sell ur coins if u dont like it or spend 1 min every 9 years to secure ur coins

if u use ur coins as intended to run MN or POS ur coins are always save

sorry this is not true.

10 years + 1 day how many coins are still in my cold storage ? zero they have been stolen.

[cryptonit]

i don't care if its 10 years or 20 years until my wallet is stolen.

DMD 3.0 now means cold storage is NO longer an option.

For many people who use cold storage as they may be old, ill, etc it really doesn't matter are now left abandoned.

No use saying 'oh just make a hot wallet every x years' this defies the whole security of cold storage.

This autosteal feature is VERY bad, if you really worried about old coins then come up with another method other than stealing.

Very bad day for DMD reputation when it comes to taking others legally held coins.

nothing is stolen u are proper informed about the DMDv3 ruleset 10 years in advance
u can choose to sell ur coins if u dont like it or spend 1 min every 9 years to secure ur coins

if u use ur coins as intended to run MN or POS ur coins are always save

sorry this is not true.

10 years + 1 day how many coins are still in my cold storage ? zero they have been stolen.

sorry thats not true

noone forces u to install DMDv3
if u and like minded people keep running DMDv2 wallet
u will have coins even after 10 year dont touch them


its a free choice to install DMDv3
its a open source software all the rulesets are open readable in the code nothing is hidden
noone force u to use it

its ur own choice

i can say we have the people we have the funds we have the experience and we have the plan
to make DMDv3 a great coin that will return into the top 100 and be part of blockchainpowered future

u are more then welcome to gather ur own team and funds and develop ur own vision of how DMD should be
maybe a good lesson to understand how much work we put in and respect it that we work hard for this coin

or u can just go the easy path when u disagree with DMDv3 then sell ur DMD
enjoy ur profit u sure made a lot from 0.30$ to 3$
or wait a bit longer to even earn more profit

i see on market a lot demand for DMD many new people wants to fill a masternode
noone is angry if u sell ur DMD

win win solution u got $ profit
we have one unhappy community member less

[cryptonit]

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

if u run a stable online masternode it will average out
and u reach over time the statistic fact that if there are 100 masternodes u earn 1% of all masternode rewards with 1 masternode
its same as mining it total based on luck
but still who have more hashrate will over time earn more rewards

POS in DMDv3 is like mining without powerwaste with ur coins
MN in DMDv3 is like mining without powerwaste with ur coins

based on ur share of DMD u choose the way how u will take part in DMD coin rollout

every way will earn u rewards

[cryptonit]

DMD Diamond 3.0 White Paper


Thank you to all the people, both DMD Diamond Foundation members and fantastic Diamond Community, who have contributed with their input to this document and support over the years which inspired us to move forward and continue to develop DMD Diamond with passion.

This white paper is the first draft. The final iteration will include detailed description of DMD Diamond 3.0 parameters and adjustment options for the zero micromanagement Diamond Proof of Stake engine (split and merge mechanics).