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Author Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65%  (Read 1077366 times)
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swannsonite
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May 01, 2014, 07:58:33 PM
 #201

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.

XCurrency:  XH2GPNGBkJb7DaQyDUM1no1f5zCfhd1kqP
XChat:        XBgoDri2b89YRn34VVzUnN1yWrKRyK2Yby  |  yE6aifkgGBGXp1aJrkcgBPLueeNDR5JgyApdp3QWJuLn
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May 01, 2014, 08:00:58 PM
 #202

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.

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May 01, 2014, 08:26:23 PM
 #203


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



Hashcows [Suspicious link removed]) will do different payouts. From the News section of their site:

"Hashcows now offers the ability to be paid out in a number of different alt-coins, instead of BTC. This has no affect on keeping alts we mine, it only converts your otherwise-earned BTC into the ALT of your choice. This new experiment started with MintCoin, and grew from there. The lineup has since grown to include; BC, C2 (NC2), CINNI, ECC, FAC, HBN, MINT, PMC, QRK, TOP, ZEIT.

We are always happy to entertain further coin adds, though we prefer they be community driven vs. a single miner coming with a request."
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May 01, 2014, 08:45:35 PM
 #204

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.

Say, for example you have 10 (ten) algorithms for PoW. Each is responsible for 1/10 of the mining. If one of these is "compromised" (one way, or another), it will still provide only 1/10 of the coins (or the relationship could be more complex). In our current setup, compromise of the PoW algorithm would require an hard fork. When you have multiple algorithms, that is no longer a pressing need.

Of course, this is not a design goal for DMD as I see it, because it is planned to be more of a value storage coin, than for mining resource. But it could still be valuable. A well designed algorithm balancing could do wonders in crypto currencies.

Hard forks are always bad. Always!

BTC: 15cJkRupKAkGr6sTxj1Uzb6uHbvuRyK1GL
DMD: dJZEqNcjiUiMMd8DKBFS9oMWtArAD2GCHr
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May 01, 2014, 08:46:32 PM
 #205

@GimmeMyCoins thx for hint im sure we have comunity enought the backup a request to payout in dmd

but let that be a task for later
step by step we wana get this release done first

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May 01, 2014, 08:54:36 PM
 #206


Say, for example you have 10 (ten) algorithms for PoW. Each is responsible for 1/10 of the mining. If one of these is "compromised" (one way, or another), it will still provide only 1/10 of the coins (or the relationship could be more complex). In our current setup, compromise of the PoW algorithm would require an hard fork. When you have multiple algorithms, that is no longer a pressing need.

Of course, this is not a design goal for DMD as I see it, because it is planned to be more of a value storage coin, than for mining resource. But it could still be valuable. A well designed algorithm balancing could do wonders in crypto currencies.

Hard forks are always bad. Always!

myriadcoin? thats what u describe but with less different algos

but as u said yourself dmd coin setup doesnt need that because our primary POW timewindow will only last expected 15 months

some longtime POW coins could explore such ways maybe

we did focus much more in a coinsetup that provids rewards for all kind of people and not only miner
investors are our main target group

our goal is the establish diamonds as a storage of wealth = buy wait and have an increased value once u need to withdraw and convert again into fiat



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May 01, 2014, 09:09:39 PM
 #207

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


You simply rock! You guys are top notch! Visionaries! Where "evolution" comes from. Wink

You are showing us the future of [successful] cryptocurrencies with what you're doing with DMD!

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May 01, 2014, 09:46:07 PM
 #208


You simply rock! You guys are top notch! Visionaries! Where "evolution" comes from. Wink

You are showing us the future of [successful] cryptocurrencies with what you're doing with DMD!

i didnt pay for that really  Shocked

i have to say thx for overwhelming feedback

and i got a lot similar PMs

i can tell ya how we created our coin specs

we are exactly a bunch of people from that target group

small /medium miner
small/medium investor

most of us did join crypto when it was to late for BTC
and after long research we all found to diamond as optimal mix between risc vs reward
a great name and big potential

enought risc to be able get a real significant reward of 10x 100x or even more.....

but we failed.....
we found out the coin is nearly headless

and now the crazy plan was made  instead of seeking another possible secret winner where we could get what early btc investors did get

we just moved ourself into diamond coin inner circly and make it true

and we did just build coin specs of the dream coin
where everyone of us said

wow such a coin i would mine
wow in such a coin i would invest some money

a few months we did work for it
build up connections and a network to make this come true
recruited key people for the team

and here we are now

dreams can become true if u work for it
and if others take part in this successstory and share the dream with us

its by far not to late to join in
you are welcome to be a travelmate in our journey

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May 01, 2014, 09:59:14 PM
 #209

but why i have that much time write so long posting instead of rotate because of wallet release

guess what.....

we missed cryptsy deadline for today and they can only start implemenenting our new wallet tomorrow in US workhours

so its sure no wallet release today sorry

we will try the best to get it done tomorrow

meanwhile u can try make someone panic sell his dmd to buy in cheap  Grin

just sad it looks like that plan isnt working we still at rockstable price......

but that price is still low for such gems i guess
so its not to late to get some pre repease hype

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May 01, 2014, 11:16:21 PM
 #210

Downloading this blockchain is so frustrating it's like watching paint dry but at much much slower pace. I was in shock when I calculated estimated download time at over 13 hours even though I was almost mid way the chain. We've however found a way to speed it up significantly so fingers crossed this whole saga of miserable limbo ends tonight.

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May 02, 2014, 01:21:31 AM
 #211

Downloading this blockchain is so frustrating it's like watching paint dry but at much much slower pace. I was in shock when I calculated estimated download time at over 13 hours even though I was almost mid way the chain. We've however found a way to speed it up significantly so fingers crossed this whole saga of miserable limbo ends tonight.

How do you speed up the blockchain loading?  I feel asleep watching it  Undecided

VICI!
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May 02, 2014, 01:22:49 AM
 #212

Downloading this blockchain is so frustrating it's like watching paint dry but at much much slower pace. I was in shock when I calculated estimated download time at over 13 hours even though I was almost mid way the chain. We've however found a way to speed it up significantly so fingers crossed this whole saga of miserable limbo ends tonight.

How do you speed up the blockchain loading?  I feel asleep watching it  Undecided

xhamster

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May 02, 2014, 01:29:24 AM
 #213

Downloading this blockchain is so frustrating it's like watching paint dry but at much much slower pace. I was in shock when I calculated estimated download time at over 13 hours even though I was almost mid way the chain. We've however found a way to speed it up significantly so fingers crossed this whole saga of miserable limbo ends tonight.

How do you speed up the blockchain loading?  I feel asleep watching it  Undecided

We prayed a lot Grin

But seriously: we did it directly through LAN with the copy chain it helped a bit Smiley

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May 02, 2014, 01:39:51 AM
 #214

Yes.  It should also save us a ton of time if the blockchain is included in the zip file.
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May 02, 2014, 01:43:01 AM
 #215

Yes.  It should also save us a ton of time if the blockchain is included in the zip file.

This would help so much...  Just don't include wallet.dat file or anything that might erase the existing balance

VICI!
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May 02, 2014, 02:33:21 AM
 #216

Yes, this is our plan to provide you with zipped blockchain and spare you this agony. I cannot imagine otherwise.
Last time it was a bit hasty release of the dev's version, you will be getting the proper thing this time.

We'll do our best to have Mac Client released along with Windows and Linux versions on the release day.

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May 02, 2014, 06:57:01 AM
 #217

our devs at work


everything needs to be done very carefull they said  Grin

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May 02, 2014, 07:02:01 AM
 #218

any expected price of that currency Huh


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May 02, 2014, 10:48:36 AM
 #219


its by far not to late to join in
you are welcome to be a travelmate in our journey



Thanks! I think I'll take you up on that invitation. I'm already fully committed on the mining and coin holding fronts, but I could also do more by getting involved on the development side of things too. While I'm not a programmer, I do have other professional aptitudes that may well be suitable for other, non-coding, aspects of Diamond's general project development.

That being said, I'm sure it goes without saying that I am in complete sync with your philosophy, stated goals, and implementation plans for DMD. My own reflections on a coin's "perfect characteristics" - what coin I would mine and what coin I would invest in - have led me to very similar, if not identical, conclusions. Seeing others coming to the same conclusions and acting on those conclusions is probably the primary reason why I'm so excited about DMD's future and willing to roll up my sleeves alongside you all and contribute whatever I can as well.

Thanks again, and I'll be getting in contact with you via PM over on the DMD forum as soon as I can.

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May 02, 2014, 11:06:19 AM
 #220


its by far not to late to join in
you are welcome to be a travelmate in our journey



Thanks! I think I'll take you up on that invitation. I'm already fully committed on the mining and coin holding fronts, but I could also do more by getting involved on the development side of things too. While I'm not a programmer, I do have other professional aptitudes that may well be suitable for other, non-coding, aspects of Diamond's general project development.

That being said, I'm sure it goes without saying that I am in complete sync with your philosophy, stated goals, and implementation plans for DMD. My own reflections on a coin's "perfect characteristics" - what coin I would mine and what coin I would invest in - have led me to very similar, if not identical, conclusions. Seeing others coming to the same conclusions and acting on those conclusions is probably the primary reason why I'm so excited about DMD's future and willing to roll up my sleeves alongside you all and contribute whatever I can as well.

Thanks again, and I'll be getting in contact with you via PM over on the DMD forum as soon as I can.

below are links where u can share ur ideas or even sign up for possible project team membership

Diamond - DMDcoin.net » PROJECT DEVELOPMENT » Branding, Marketing, Merchant Relations
http://dmdcoin.net/forum/index.php/board,6.0.html

Diamond - DMDcoin.net » PROJECT DEVELOPMENT » Software Development
http://dmdcoin.net/forum/index.php/board,7.0.html

Diamond - DMDcoin.net » PROJECT DEVELOPMENT » Social Media
http://dmdcoin.net/forum/index.php/board,8.0.html

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