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Author Topic: [ANN] Diamond (DMD) Evolution v 2.0 | Hybrid Security | 25% PoS  (Read 892335 times)
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cryptonit
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April 23, 2014, 10:17:54 AM
 #21

good feedback thx

split algo form other features into 2 releases would be 2x a hardfork

in my opinions is go with all in one big bang release is the way to go

please fellow diamond lovers

we dont talk here about a certain delay in wallet release

we just talk about how we will react when we cant finish groestl implementation in 14 days

where or dev says he expect the chance he can do it in 14 days is 80% yes 20% no

so its high chance we will follow exact release plan from first posting

but our policy of transparence make me discuss this possibilities already with u
noone should be surprised if a delay will be required


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April 23, 2014, 10:25:25 AM
 #22

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Once we reach total coins of ~400,000 reward increases to 1.05 DMD per solved block*
* 1 DMD is granted to the miner while 0.05 DMD is contributed to coin support.
So arcording to my calculation, there would be 52381 coins mined by miners but sent to dev ? That is ~ 3.49% of total mined coin at 1,500,000 coins. Is this a tactics of premine ?
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April 23, 2014, 10:35:34 AM
 #23

The way I see it, it's not an IPO not a premine, because both mean that devs get money all together and 'before' the others, and they can dump them.

Here it's a quite innovative and fair way to support the dev and community, without this coin will die. There's only 0.05 DMD for this for each block, so it's a VERY limited supply, like the coin itself is rare and very diluted over very long term.

This means no dumping, it's the right way others will follow to sustain development and in a fair way.
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April 23, 2014, 10:42:20 AM
 #24

Here it's a quite innovative and fair way to support the dev and community, without this coin will die. There's only 0.05 DMD for this for each block, so it's a VERY limited supply, like the coin itself is rare and very diluted over very long term.
There would be total 1,100,000 coins to be mined on stage between 400,000 and 1,500,000 coins. 0.05 DMD for each 1.05 DMD mined in this stage will be sent to devs. So our devs will have 1,100,000/1.05*0.05=52,381 DMD while the total supply of that time will be 1,500,000. It's equivalent to ~3.5%.
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April 23, 2014, 10:46:21 AM
 #25

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Once we reach total coins of ~400,000 reward increases to 1.05 DMD per solved block*
* 1 DMD is granted to the miner while 0.05 DMD is contributed to coin support.
So arcording to my calculation, there would be 52381 coins mined by miners but sent to dev ? That is ~ 3.49% of total mined coin at 1,500,000 coins. Is this a tactics of premine ?

It's like a constant 5% premine. WTF?

I'm not saying dev will dump, but I'm surely not setting my rigs up to "donate" my efforts / electricity / money / work to someone else..?!
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April 23, 2014, 10:55:58 AM
 #26

I don't get why no one consider the time factor, there will be 1440 DMD created per day, so 72 per day to coin support.

If you go back and read the announcement, it's all there specifying that there will be a Foundation, dedicated to support devs, community, promotion, without PRE-mine.

Miners can decide to mine this or not, but would be funny if that's the reason if they agree to pay fees of 1% or 2% to pools usually. Look at other coins like BlackCoin, they follow a similar concept (not technically) and they dedicate the fees to the Foundation to support all coin future activities.

Coins without support die because no one works for free forever, coins with premine and IPO are a scam/dump risk (this is not a premine, coins are not 'pre' mined, just mined like all other coins!). DMD learned from the success of BC and adapted it to the new coin specs of very rare PoW + PoS.

That's what I think after being directly and indirectly involved in many projects, probably price will say the rest, and devs here too Smiley

@asplinux
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April 23, 2014, 10:56:18 AM
 #27

Hello all, just signed up to air my views.
I feel this is a very ingenious way for the dev to get financial support, which they need and is often lacking in most coins for decent infrastructure. As said before this is nothing like a premine, It is in everybody's interest to see the long term success of Diamond.
The dev only get a small portion of the miners work and personally I feel It's good for all miners to put something back in.  Often with multipools etc, a coin effectively gets raped, miners take their profits and dumping the coins.
Hat's off to the dev for finally coming up with a fair way of helping to support the coin. I'm really liking the way things seem to be developing here. And thank you for the transparent nature in which you're proceeding!
I have bought a few the last couple of days and hope to get more.

edit: typo
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April 23, 2014, 11:09:40 AM
 #28

Quote from: DLow
I'm not saying dev will dump, but I'm surely not setting my rigs up to "donate" my efforts / electricity / money / work to someone else..?!

Of course you won't, because everything in life comes for free right? Servicing nodes, paying development costs off all sorts, marketing that goes beyond bitcointalk hype. Not every person with right skills is so altruistic as you are and unfortunately they do require incentive to spend their time, skills and effort to create something meaningful.
What sort of "effort" on your part are you talking about? Every miner would be getting full amount (so you are not donating anything by reducing your income) but small contribution on top for ongoing support and development of the coin will be sent to a newly formed Foundation. Foundation which in transparent way will show what the coins are spent on with the clear progress bar. If you think this is not value added to the coin please wake up.

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April 23, 2014, 11:13:44 AM
 #29

It's really hard to trust anybody right now. There are lots of scams left and right.
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April 23, 2014, 11:16:29 AM
 #30

Diamonds are the most beautiful thing in the world!  I think all the  peoples  will like it

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T O K E N  -  A S  -  A  -  S E R V I C E

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April 23, 2014, 11:18:38 AM
 #31


DLow, but you'd be working for yourself and the coin. Does that not make any sense? If you truly would want the coin to be a success of course.

I don't know 1st hand but have read that some say the BC pool is one of the most uneconomical pools to mine from, so in essence the miners are taking a loss to support the coin. But only those miners that have a REAL interest in seeing the success of the coin and themselves. Why should multipool miners make potentially huge profits from a coin(supporting the network, yes) but then give nothing back to the long term support of the coin? If a coin is unprofitable they leave, either with a fee or without. This way they leave a little present behind for the long term benefit of the coin and community

I don't currently mine due to electricity costs, It is  always a financial loss for me. This new lower power way may work for me, I need to learn more on that front. But It could be a very powerful draw to many in my position.
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April 23, 2014, 11:19:01 AM
 #32

I think none of them offer such direct contact though, details ahead of time, and a very scarce coin diluted in time to guarantee at the same time a fair distribution among miners and devs/community.

All this means long term vision, DMD is one of the last coins you would choose to prepare a scam, it was always about scarcity and long term, both things not going well with scams and dumps.

I think people are right being wary and cautious, time will tell in the end, but I always felt Diamond Coin was one of the most underrated coins around, now it seems a serious team finally took over to make it the big project it deserves to be Smiley
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April 23, 2014, 11:38:24 AM
 #33

Quote from: DLow
I'm not saying dev will dump, but I'm surely not setting my rigs up to "donate" my efforts / electricity / money / work to someone else..?!

Of course you won't, because everything in life comes for free right? Servicing nodes, paying development costs off all sorts, marketing that goes beyond bitcointalk hype. Not every person with right skills is so altruistic as you are and unfortunately they do require incentive to spend their time, skills and effort to create something meaningful.
What sort of "effort" on your part are you talking about? Every miner would be getting full amount (so you are not donating anything by reducing your income) but small contribution on top for ongoing support and development of the coin will be sent to a newly formed Foundation. Foundation which in transparent way will show what the coins are spent on with the clear progress bar. If you think this is not value added to the coin please wake up.

If the people marketing this coin believe in its success and the traction it'll gain why don't they set up a community pool with a 5% donation? So whoever supports the coin can mine there, those who don't can mine on one of the 0-2% pools.
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April 23, 2014, 11:49:50 AM
 #34

In my opinion (I'm not the dev), fair distribution and fair contribution means that everyone that is involved must devolve a small part to the coin itself, instead of leaving it with much higher percentage to smaller number of people on volunteer base, we already saw with other coins that does not work.

This is the only 100% guarantee of support for the coin people are investing/profiting in, any other way leaves space to scammers, whales, dumpers and greedy miners.

As I said as well on Twitter, I think this is a fair model distributing equally profits and expenses and guaranteeing long time support (devs/team will be always interested in keeping it up), that's where most coins fail. Also the scarcity and low reward guarantee an equilibrium between miners and traders, avoiding huge dumping from miners and guaranteeing a more stable price in the long run.

Whoever is in, must be for profits and for sharing a 0.05% back to the community. Other coins will follow this simple and fair model I think.
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April 23, 2014, 11:52:30 AM
 #35

i guess u forget any pos reward will create no foundation share at all

if u dont like to mine with this coin setup

buy coins and mint to avoid support coin development and marketing

none forced to mine people complain diff to high anyway ;-)

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April 23, 2014, 11:53:31 AM
 #36

In my opinion (I'm not the dev), fair distribution and fair contribution means that everyone that is involved must devolve a small part to the coin itself, instead of leaving it with much higher percentage to smaller number of people on volunteer base, we already saw with other coins that does not work.

This is the only 100% guarantee of support for the coin people are investing/profiting in, any other way leaves space to scammers, whales, dumpers and greedy miners.

As I said as well on Twitter, I think this is a fair model distributing equally profits and expenses and guaranteeing long time support (devs/team will be always interested in keeping it up), that's where most coins fail. Also the scarcity and low reward guarantee an equilibrium between miners and traders, avoiding huge dumping from miners and guaranteeing a more stable price in the long run.

Whoever is in, must be for profits and for sharing a 0.05% back to the community. Other coins will follow this simple and fair model I think.

Are my numbers wrong? For every 1 coin that is mined .05 is "donated" towards development. So that equals 5%?
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April 23, 2014, 11:54:03 AM
 #37

i guess u forget any pos reward will create no foundation share at all

if u dont like to mine with this coin setup

buy coins and mint to avoid support coin development and marketing

none forced to mine people complain diff to high anyway ;-)

makes sense.
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April 23, 2014, 11:55:29 AM
 #38

Quote from: DLow
I'm not saying dev will dump, but I'm surely not setting my rigs up to "donate" my efforts / electricity / money / work to someone else..?!

Of course you won't, because everything in life comes for free right? Servicing nodes, paying development costs off all sorts, marketing that goes beyond bitcointalk hype. Not every person with right skills is so altruistic as you are and unfortunately they do require incentive to spend their time, skills and effort to create something meaningful.
What sort of "effort" on your part are you talking about? Every miner would be getting full amount (so you are not donating anything by reducing your income) but small contribution on top for ongoing support and development of the coin will be sent to a newly formed Foundation. Foundation which in transparent way will show what the coins are spent on with the clear progress bar. If you think this is not value added to the coin please wake up.

If the people marketing this coin believe in its success and the traction it'll gain why don't they set up a community pool with a 5% donation? So whoever supports the coin can mine there, those who don't can mine on one of the 0-2% pools.

why all should profit snd only a few really support!
people who buy support bx create buy demand
people eho mine support with foundation share

everyone helping to archive our common goal

success for diamond

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April 23, 2014, 11:57:50 AM
 #39


DLow, you will either mine this coin or not. You only will if you can make a profit, I'm sure Smiley

Usually, you may choose to mine this coin for profit, when you decide you're no longer making a profit you leave. In truth, your contribution to the coin has been zilch. You've taken from the dev/communities hard work, while the going was good and given nothing but a short term boost to the hashrate. Dumping your coins and causing instability to both the network and the market cap.

This way, the devs and community ensure you're leaving something for the future. Fairest way I've seen yet.
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April 23, 2014, 12:27:33 PM
 #40

Here it's a quite innovative and fair way to support the dev and community, without this coin will die. There's only 0.05 DMD for this for each block, so it's a VERY limited supply, like the coin itself is rare and very diluted over very long term.
There would be total 1,100,000 coins to be mined on stage between 400,000 and 1,500,000 coins. 0.05 DMD for each 1.05 DMD mined in this stage will be sent to devs. So our devs will have 1,100,000/1.05*0.05=52,381 DMD while the total supply of that time will be 1,500,000. It's equivalent to ~3.5%.

that's fine its gradual and we need a ledger to see what they are doing with it, sure keeping some for themselves is fine but some could fund projects etc.

good to see diamond making a comeback... people don't realise that they pay 3.5% out but get 500% + returns Smiley come on be sensible guys look at the big picture.
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