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

[cryptonit]

the pos fix did require another blockchain resync.....
thats the reason it take so long

as explained before thats a timeconsuming process which is in our situation very nasty because we can only wait

basical only a few steps missing to release files towards cryptsy but we have to wait until we can execute em

and i fear if we run out of worktime window of cryptsy employee they wont finish integration into exchange early enought to make us release it today to pools and everyone else

we would work 24/7 but cryptsy is a company with regular workhours (beside 24/7 support which can only relay our files towards the technican who isnt working 24/7....)

we not blame anyone
its just a fact that time adds up and different timezones not helping too

i hope u can understand we not happy about this too

deliver fast and stable was our plan

but to deliver stable we had to sacrifice fast.......

and we made a teamdecision that a release without exchange got his wallet updated first is no option

after all diamond is a  storage of wealth by definition so keep it save and secure is top priority

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[2tights]

to test my system, I've been testing the groestlcoin mining, and I really like how quiet my fan is!


Any update regarding the release of the wallet?

[cryptonit]

meanwhile good news a nice guide how to mine groestl algo with linux
http://dmdcoin.net/forum/index.php/topic,355.msg1701.html#msg1701

and his impression:

Like it's Christmas.  

Running at 62º Celsius! Pulling 179-180 W from the wall. That's phenomenal. Down from 325-330. Just slightly over half. My electricity bill is going to love this. Maintaining an average hashrate of 4.6 - 5 Mh/s and generating the number of coins expected. I'm getting a full performance confirm all the way around. The profitability picture changes radically with this. (I'm getting very interested in looking at putting some CPUs to work as well, but don't have the slightest idea as to the profitability of that . . . yet).

update:

my own impression mining with two rigs 3x amd 290 and 6x amd280

with scrypt i did use 3000w all together
with groestl im at 1500w all together and silent

using windows 8.1 one one and windows 7 on other rig

[2tights]

meanwhile good news a nice guide how to mine groestl algo with linux
http://dmdcoin.net/forum/index.php/topic,355.msg1701.html#msg1701

and his impression:

Like it's Christmas.  

Running at 62º Celsius! Pulling 179-180 W from the wall. That's phenomenal. Down from 325-330. Just slightly over half. My electricity bill is going to love this. Maintaining an average hashrate of 4.6 - 5 Mh/s and generating the number of coins expected. I'm getting a full performance confirm all the way around. The profitability picture changes radically with this. (I'm getting very interested in looking at putting some CPUs to work as well, but don't have the slightest idea as to the profitability of that . . . yet).

I found the sph-sgminer very problematic in Ubuntu, and resigned to running it on the Windows 7 side. I'm hashing at 10 gh/s with my sapphire 290x.  I am able to keep the temp around 80, fan around 50% which is a dramatic improvement from Dogecoin.  Now, my wife is less unhappy with my cryptocurrency obsession... LoL. But, seriously. The noise of that goddamn fan is a big deal.

[exoton]

how many blocks are left until we are pure pos , when we are at that point a multipool would be nice, especially because there is such a low amount of coins on cryptsy , once those are gone we could essentially dictate the price

[cryptonit]

how many blocks are left until we are pure pos , when we are at that point a multipool would be nice, especially because there is such a low amount of coins on cryptsy , once those are gone we could essentially dictate the price

check coin setup

until 1500000 total coins we have full POW with 1 dmd each minute AND full POS with 50% per anno

this is the golddiamond-rush phase of coin rollout

everyone can get his stake
by mining or by buying and minting

expected duration with 75% of coinage used for minting (and not burned in transactions) is around 15 months until we reach 1500000 total diamonds

like always diamond timeframes are longterm

we have calculated a expected coinrollout  for 30 years...............

[popshot]

But, seriously. The noise of that goddamn fan is a big deal.

I had to move my mining rig to the house extension as I couldn't stand the noise. For me profitability of mining has been consecutively falling, due to ever growing difficulty, dramatic fall in value of coins I used to mine, so I ended up with the situation that I was mining just for the sake of it. Electricity bills were getting bigger as well with price increases every now and then.

With this new algo, all the problems that led me to abandoning mining are becoming a thing of the past. At least for the time being difficulty will be at the alright level and not so ridiculous as with i.e Litecoin or Doge, value of the coin will be increasing so even if difficulty eventually rises it will compensate, the noise level will be way way down (which is a big factor for me). Diamond Coin with the newest implementations is a solution to many people's problems and if you add Proof-of-Stake into the mix it's really unique and becomes the most eco friendly, most energy efficient solution on the market that satisfies needs of most groups of people from miners, minters, long term holders, traders(for being fast and stable), etc.

In cooperation with Groestlcoin devs we'll promote all kinds of mining solutions and thanks to this algorithm properties people will be able mine with virtually any modern mobile device. Diamond Coin is a win-win coin and in my honest opinion should be named as such.

[2tights]

But, seriously. The noise of that goddamn fan is a big deal.

I had to move my mining rig to the house extension as I couldn't stand the noise. For me profitability of mining has been consecutively falling, due to ever growing difficulty, dramatic fall in value of coins I used to mine, so I ended up with the situation that I was mining just for the sake of it. Electricity bills were getting bigger as well with price increases every now and then.

With this new algo, all the problems that led me to abandoning mining are becoming a thing of the past. At least for the time being difficulty will be at the alright level and not so ridiculous as with i.e Litecoin or Doge, value of the coin will be increasing so even if difficulty eventually rises it will compensate, the noise level will be way way down (which is a big factor for me). Diamond Coin with the newest implementations is a solution to many people's problems and if you add Proof-of-Stake into the mix it's really unique and becomes the most eco friendly, most energy efficient solution on the market that satisfies needs of most groups of people from miners, minters, long term holders, traders(for being fast and stable), etc.

In cooperation with Groestlcoin devs we'll promote all kinds of mining solutions and thanks to this algorithm properties people will be able mine with virtually any modern mobile device. Diamond Coin is a win-win coin and in my honest opinion should be named as such.

I agree. From my perspective, it appears that this is really the first coin of a new 3rd generation of coins which are actively resolving the challenges you mention. It is a more equitable approach and I believe this will lead to a broader adoption.

Only time will tell... but for now at least we see the immediate benefit from the hashing/mining perspective.

[cryptonit]

the first coin of a new 3rd generation of coins which are actively resolving the challenges you mention. It is a more equitable approach and I believe this will lead to a broader adoption.

Only time will tell... but for now at least we see the immediate benefit from the hashing/mining perspective.

we are clear a 1st generartion coin because we are based on bitcoin code
which is by definition not bad the most valuable coins are 1st generation

BUT in my opinion we are a far advanced EVOLUTION of 1st generation coins

thats why we called this release:
[ANN] Diamond Coin (DMD) Evolution v 2.0

[popshot]

the first coin of a new 3rd generation of coins which are actively resolving the challenges you mention. It is a more equitable approach and I believe this will lead to a broader adoption.

Only time will tell... but for now at least we see the immediate benefit from the hashing/mining perspective.

we are clear a 1st generartion coin because we are based on bitcoin code
which is by definition not bad the most valuable coins are 1st generation

BUT in my opinion we are a far advanced EVOLUTION of 1st generation coins

thats why we called this release:
[ANN] Diamond Coin (DMD) Evolution v 2.0

We've already had some discussion with cryptonit about grading system. In my opinion all coins which implemented Proof-of-Stake are adding something new to bitcoin technology. In my book, PoS coin should be classified as 1.5 version as it paved the way for all that new non bitcoin code based coins which label themselves as 2.0.
New does not of course automatically mean better.
Evolution for Diamond can be seen as a process of distillation of the best characteristics of all the coins around into one package, it's learning on the past years of the market and technology maturing.  

Whatever the generation, if a product is good and proven I would choose it any day over something new and untested. But that's just my long term investors mentality and everyone has it's own way in that respect.

[danbi]

By the way, it would not have been bad idea for DMD to run with different PoW algorithms in parallel, each with it's own difficulty and pace. That way, if some algorithm suffers from ASICs etc, only that algorithm's share will be 'unfair'. Of course, PoS is an entirely different beast.

[cryptonit]

By the way, it would not have been bad idea for DMD to run with different PoW algorithms in parallel,
each with it's own difficulty and pace. That way, if some algorithm suffers from ASICs etc,
only that algorithm's share will be 'unfair'. Of course, PoS is an entirely different beast.

    GROESTL        SCRYPT

[wmann]

If we are using the sph-sgminer with a mining pool,   will we need to use the --difficulty-multiplier=0.0039062500   see the note on option below.

Important! A new option was added: --difficulty-multiplier. It allows to set stratum difficulty multiplier. For QubitCoin, Quark and Animecoin it will be usually 256. For Groestlcoin, Fuguecoin and Twecoin it will be usually 0.0039062500 (1/256). Default value is 1.0. If you have "share above target" errors then set it to 256. If difficulty required by pool is strangely large, set it to 0.0039062500 (1/256). Other values are unlikely to be used. Hopefully this will fix all remaining stratum problems.

I looked into this more and it depends on which pool you mine from.  If you get too many accepts going on, you need to raise it.  If you don't see any accepts, you need to lower it.  I would guess you should see about 1 accept every 30 seconds would be good.  You don't want the pool to get overloaded with accepting shares and you want to submit your work at least once per block.

[popshot]

By the way, it would not have been bad idea for DMD to run with different PoW algorithms in parallel, each with it's own difficulty and pace. That way, if some algorithm suffers from ASICs etc, only that algorithm's share will be 'unfair'. Of course, PoS is an entirely different beast.

I don't fully understand the purpose of such action. Mining and minting already run under different algorithms, difficulty and pace. For security reasons incorporating merged mining is also a possibility. Any person who hasn't got a Skrypt or SHA-256 ASIC device could mine Diamonds. If ASICs ever became significant problem nothing stops the coin from adopting another algorithm.

For PoW blocks people would simply choose the one that is more profitable to mine, completely disregarding the other one.

[2tights]

By the way, it would not have been bad idea for DMD to run with different PoW algorithms in parallel, each with it's own difficulty and pace. That way, if some algorithm suffers from ASICs etc, only that algorithm's share will be 'unfair'. Of course, PoS is an entirely different beast.

I don't fully understand the purpose of such action. Mining and minting already run under different algorithms. For security reasons incorporating merged mining is also a possibility. Any person who hasn't got a Skrypt or SHA-256 ASIC device could mine Diamonds. If ASICs ever became significant problem nothing stops the coin adopt another algorithm.

Well, at that rate why not set it up to automatically trigger a switch, when appropriate, to one randomly selected among a predefined set of algorithms?

[cryptonit]

we also research the possibility of a asic friendly multipool to mine DMD with it

we searching partners who set up such a sha256/scrypt mining pool who pay out in DMD

if interested get in contact with me or popshot


a multipool paying out in DMD is the only way how asics not hurt but help diamond by creating additional buy demand

its not looking like we not having already a big demand but on the other hand a rare thing like diamonds can never have to much demand

[2tights]

we also research the possibility of a asic friendly multipool to mine DMD with it

we searching partners who set up such a sha256/scrypt mining pool who pay out in DMD

if interested get in contact with me or popshot


a multipool paying out in DMD is the only way how asics not hurt but help diamond by creating additional buy demand

its not looking like we not having already a big demand but on the other hand a rare thing like diamonds can never have to much demand

At this point I would say you've got a lot of interest, not demand. That's not to say demand won't develop.

[cryptonit]

Well, at that rate why not set it up to automatically trigger a switch, when appropriate, to one randomly selected among a predefined set of algorithms?

coin minable by everyone beside asic owners have one reason
asics by design require that the owner sell coins to refinace the investment
we want to avoid that sell pressure and the missing share of diamonds for regular miners
small and medium scale miners often mine to keep coins

as explained in last posting we see asic friendly multipools who pay out in DMD
as the solution to give big asic owners also a chance to mine DMD
without hurting the economy and reducing mining rewards for all other diamond miners

[swannsonite]

I started mining GroestlCoin in preparation they have some very good mining info. http://www.groestlcoin.org/pools and a spreadsheet with settings that people have submitted.

[popshot]

Well, at that rate why not set it up to automatically trigger a switch, when appropriate, to one randomly selected among a predefined set of algorithms?

A complete switch requires a hardfork and automatic action would add a lot to unpredictability. I can imagine warning posts asking people not to mine too much because they are risking an automatic hardfork out of the blue. With the hardfork we can experience today you can see how much trouble it is. Changing algorithms often requires making changes to mining software, mining pools, exchanges .. it's a lot to ask for no good reason, really.

Algorithm X11 (as an example) which is a mashup of all different ones is also not a solution to anything. It's much greater security risk with injection attacks while Groestl is immune to such dangers and is much more efficient on simple low powered devices.  

Diamond Coin will eventually become mostly a PoS coin (hybrid approach with PoW still securing the network) so in terms of signing transaction and network security we have nothing to worry about.