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

[paladin281978]

popshot

coins in the reactor have an POS advantage over conventional coins? Does this mean that I will receive less from the POS having no coins in the reactor?

[cryptonit]

@hallared

a reactor slot isnt a trap but instead a privileg
existing cloudmining users are free to trade/sell their slot rights if they want

im happy to offer 50 dmd for each slot someone want to sell towards me
but u are free trade and sell to whoever u want and at whateve price u able to get

if a cloumining shareholder sell  some of his slots he need to send a email towards cloud@bit.diamonds
i explain details at reply

i will send a newsletter at weekend not all shareholders are active at forum

until yet the only negative feedback i respect is comining from pallas because he did something active for the community

all other negative feedback iscoming from people who didnt active contribute but now wana raise their voice

its doesnt count who cry louder but who is working for the coin

i respect every opinion from people who work for the coin

thx to all the positive feedback too

it was clear that this change will strenght the profil of dmd as investor coin and weaken its profile in the eyes of miners

same we did go through when we launched the V2 wallet and replaced the old pure pow coin rolloutplan with the actual longterm rollout plan with focus on pos

i just wonder if miners hate us so much why mining diff raises

if people want to dump their coins on what exchange this is happening?

dmd position itself with a unique concept and not just as another pow pos coin with another name as only difference to other coins

and we dont stop here we working on more projects that are aimed to attract business

we not one of the endless coins that try to be a payment coin
but that u will be able pay everywhere btc is accepted is justa matter of time

our main goal is storage of wealth and in the future providing crypto business solutions for companies instead of focus on private customers

that lot of us as little private investors will later on hold a share of a B2B crypto business solution wont be a bad thing i guess

[popshot]

You have to establish an economy behind dmd.

Of course .. but to create economy we are after is not easily possible with the resources we have. Or it would come so slowly we would be outpaced by everyone else.
Take for example eCommerce, anyone remember CoinPayments platform? We spent so much time and money on getting us there and the end result was that I was the only person that used it.
We need investors, and I'm not talking here about Cloud Mining investors. Nowadays, to successfully launch game changing products one needs the whole team of programmers, marketeers, lawyers, etc.
 
We do want to create demand - the Reactor is one of the answers to it.

Instead of saying generic 'a very bad idea' what would you see as better solution that addresses the points that were raised?

[Reggie0]

You have to establish an economy behind dmd.

Of course .. but to create economy we are after is not easily possible with the resources we have. Or it would come so slowly we would be outpaced by everyone else.
Take for example eCommerce, anyone remember CoinPayments platform? We spent so much time and money on getting us there and the end result was that I was the only person that used it.
We need investors, and I'm not talking here about Cloud Mining investors. Nowadays, to successfully launch game changing products one needs the whole team of programmers, marketeers, lawyers, etc.
 
We do want to create demand - the Reactor is one of the answers to it.

Instead of saying generic 'a very bad idea' what would you see as better solution that addresses the points that were raised?

I know I can't give a better solution, but I think is not a solution. But i have to say something if you want jump off from the cliff.

Here are my private solution: I going to start a service which accept dmd payment. It will start in apr-may.

[popshot]

popshot

coins in the reactor have an POS advantage over conventional coins? Does this mean that I will receive less from the POS having no coins in the reactor?

The reactor wallet would just produce x4 more coins, nothing else, no hidden functionality or any other benefits.

The benefited would be those who had their coin there, which through out that period of 40 weeks (280 days ) - would amount to additional almost 50% return .
The rest of the coins from the reactor would be fed into Diamond Cloud Mining as extra rewards to all participants.

In my view network security would benefit as well .. as there would be more consistent and persistent staking power.

[chilo]

Hi people,

I too would like to buy additional slot/s if someone is willing to sell.

popshot/cryptonit should we have another thread to facilitate swap or selling of reactor slots? (Not sure if this type of activity allowed on this forum either).

Regards

chilo

[stoody]

how anyone see this as negative is beyond me??? i see nothing but a positive move.... this shows that there is an active dev team, something that most coins dont have... i see this a nothing more then a move towards what the dev team and dmd coin role out plan... the role out plan hasnt gone according  to plan so the "active dev team" has done changes to the dmd to make sure it meets the expectations of just that... why people see this as bad is beyond me... i would much rather see the dev team to take action instead of sitting on there asses.

[cryptonit]

Hi people,

I too would like to buy additional slot/s if someone is willing to sell.

popshot/cryptonit should we have another thread to facilitate swap or selling of reactor slots? (Not sure if this type of activity allowed on this forum either).

Regards

chilo

good idea we will create a slot trading thread on DMD forum

this slot trading is only working for the initial 3 slots each dmd cloudmining shareholder recieves

lets use this thread
http://bit.diamonds/community/index.php/topic,90.0.html

[utahjohn]

I'd like to see a firm time frame for new wallet roll out, start of reactor before I invest anymore (have 2 slots empty). 

[popshot]

thread to facilitate swap or selling of reactor slots? (Not sure if this type of activity allowed on this forum either).

I've seen people trading things in (main ANN) threads, should be 'legal' but don't take my word for this - I'm not the almighty 'trusted member' to set my own rules.

[chilo]

thread to facilitate swap or selling of reactor slots? (Not sure if this type of activity allowed on this forum either).

I've seen people trading things in (main ANN) threads, should be 'legal' but don't take my word for this - I'm not the almighty 'trusted member' to set my own rules.

I think using:

http://bit.diamonds/community/index.php/topic,90.0.html

 will be safer and may bring some extra traffic to the alternate Diamond forum.

Maybe we could have the link on the ANN page?

[popshot]

Maybe we could have the link on the ANN page?

Added.

[Sneaking]

Would it be possible to automate that proof of stake, proof of share slot sending thing so that there wouldn't be human work involved? Also how did devs think about variable pos multiplier thingy?
-Sneaking

[big_coins]

This whole 'reactor' stinks of scam to me.


Show me a single other coin that makes a very significant wallet code change that benefits just 1 person running a 'cloud mining' operation


This is a very dark day for DMD coin, shameless profiteering for the benefit of the few.

Was the wallet coder paid by 'cloud mining' to make this change that benefits only them ?

What if 'cloud mining' gets 'hacked' like MtGox, after all investors ZERO security. Nothing stopping him selling the lot and blaming a hack is there ?

I hope it doesnt happen but I suspect this is the beginning of the end of DMD. When the so called foundation starts pandering to the whims and need of a single person over the community without the community even being asked it shows a fundamental lack of respect and honesty. Both of which are seen by investors as a scam.


What do you all think would happen if Bitcoin Foundation suddenly announced that Mark Karpeles had been given a special wallet that mined coins 4x faster than everyone else as it was 'needed'.

I'm sorry Helmut you've done your credibility no good at all with this and I hope its dropped.

[Sneaking]

My thought:

What happens by sacrificing trading volume to engine thing? Some people value volume differently.
Diamond coin miners, ppl with low savings and businesses usually value trading volume heavily.
Others, savers don't value trading volume at all.

Fex. (I could not care if I lost the ability to spend my dmd's for long duration cause I am holder)

Businesses usually need to get coins sold quickly cause You can't wait weeks for
someone to buy or sell coins. They value fiat money and are not investors.
And miners usually mine for quick profit and sell quickly.
Low volume = low trading = low buying -> longer time to sell or very hard to get sold at all.

Hence there is a leverage effect that allows the cost of an attack to be high. And it is
already very high cause of very low trading volume. And You want to make it even lower with
holding coins at engine?


How much does decentralization mean to community? How much You are willing to keep it that way?
What is The goal of centralizing diamonds to engine? Is it only for profit for those who choose it?
Other solutions to "Proof of Something" algos have been proposed way back and there is nothing different
at proof of work, proof of stake, proof of shares combined as a idea. But in my opinion all these systems have
many of The same properties, and are thus proof of shares is best to implement indirectly. You are already getting
reward from owning Your miner at cloud. There is no value to community to reward again those who own shares.
So why would it benefit community with rewarding again those shareholders?

Does decentralization come with a high price tag to diamondcoin? Is it only POS algorithm that is
assumed to work certain way and why would it hurt community if We loose some POS stake coins
and does it matter globally anyway? If We have viable POS algo, then do We have more options?

What if community does not see decentralization as a goal in itself?
Are We blind? We already have a system which is both decentralized and cost-free.

If You are willing to go extra mile You are imo. better to go and purchase dmd's directly from market.
Feel free to comment.
-Sneaking

[alba77]

I don't understand why everyone is so narrow-minded. Instead of whining about you're own personal desires you should try to understand the big picture, and that is what is good for DMD long term. And THAT development is something that ALL involved in DMD will benefit from. I suggest you read Popshots post (as seen below) once again and try to read it with an open mind. Hopefully ypu will begin to understand what DMD Foundation is trying to achieve here. The reactor will strengthen both security and stability for DMD. This is a GOOD thing for everyone, and not just that, it is a necessity. This coin is not a pure mining coin anymore as hybrid POW/POS was introduced in june, and if you haven't heard it before we will soon reach 1.000.000 total coins and what will happen then? Yes, the POW reward will decrease so mining won't be that attractive anymore. But you miners have known this all the time right? So what are you complaining about? The reactor as well as the cloudmining has and will create more buy pressure on the market. What does this mean? Yes, more volume and stable price raise. Is this not good?

I am a big investor in the Cloudmining and I did that to help strengthen DMD and hopefully get a good return from my investment in the future. I will gladly invest in the Reactor too as this will help ALL people who owns DMD to get a nice return for their time, effort and money in the coming years. I will do it for everyone and not just myself. I you don't want to do that it's up to you.

but in the reactor will be DMD foundation coins which, according to previous statement from Popshot, not have been able to POS before because foundation wallet is not staking,

This has nothing to do with the reactor. Foundation wallet is incapable of staking, because of countless amounts of 0.05 transactions that the wallet cannot process. Once the coins are sent away in bigger piles the problem disappears.   

Anyway..

I think quite a few people are missing the point here.

The Reactor is not just about producing more coins, however, necessity for more coins was good opportunity to come up with something that would benefit overall Diamond performance.

Let me again present the aims of this project (and BTW I have plenty of questions to you):

•  Making sure we stick to original coin rollout plan by putting more coins into circulation.
-   Anyone objects that? More coins would mean bigger inflation, but it was meant to be bigger in the first place, so what's the problem? More coins would also mean more liquidity and possibly better distribution.

•  Ensuring Diamond Stabilisation Mechanism gets bigger and better.
-   Anyone objects that? Don’t we want to ever rise the price floor of Diamond? So ‘the little miner’ can conveniently dump his coins and get return for his struggle, without worrying what the price will be next week? Beside, it’s not the only purpose of  Stabilisation Mechanism to do that, but rather prove the coin can retain its value over prolonged periods of time – it’s supposed to be a deposit coin in the first place.

I hate to use it but iCBREAKER illustrated it pretty well how things looked before the Cloud Mining started:

https://i.imgur.com/KxtREQE.png

Could you compare it with today’s stats? http://coinmarketcap.com/currencies/diamond/ (180 day view).
 
These things didn’t just magically happen.
It was all possible thanks to Helmut’s hard work and commitment to deliver and run the service and of course everyone who bought into the cloud.

•  Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
-   Anyone objects that? Don’t we want people to perceive Diamond as a good product with functioning and effective ecosystem? Don’t we want to attract more people by providing such options?

•  Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
-   Anyone objects that? Rewarding those who actually make the whole Stabilisation Thing a reality? How is that unfair? Miners get their mining rewards and benefit from stable price thanks to those who invested BTCs into the cloud.. Minters mint and get their rewards for securing the network. How about making the system to be grateful to those who actually perpetuate with surplus result one of the cornerstones of stability.

•  Securing the network with massive staking power, making any PoS attacks very costly.
-   Mining is coming to an end, alright? Soon 1/10th of a reward is not going to attract any significant number of miners, even “the little ones”, so we can forget about PoW security. The coin will rely heavily on PoS, and not sure many of you are aware of effective PoS attack that affects all existing PoS coins [NXT not yet confirmed].  Where only 5% of coins is enough to take the project down. Keeping 10% of total coins in constant stake for sure would help to mitigate it, don’t you think?

Some people’s reaction is as if we did this:
http://www.theguardian.com/world/2015/jan/29/north-korea-may-be-restarting-reactor-which-produces-nuclear-bomb-fuel

Coincidence? Yes it is .. we are not affiliated in any way with the Democratic People's Republic of Korea.

I get an impression that you think, we were going to cheat you and personally gain on this.

To be honest I don’t care for more coins and I’m sure Helmut doesn't care either, I have enough of them already, what I want is to move this project forward.
If it was only about some short term gains we wouldn’t spend countless hours on this and be just like the rest of people riding waves.

This Reactor project is not the only thing we’ve been doing all that time, but we do split work. I’ve seen the question about the access to Reactor, no I don’t have access to it and won’t have it, for security reasons.

But you can help me in other ways..  If you have loads of cash and want to invest in a good crypto project, please send me PM, it will save me a lot of work finding external investors to properly fund development and take us out of the 100th place to the much higher one. If not then sorry but this is what we came up with with our limited resources.

Of course thank you for your thoughts about better PoS rewards models, but would be much better if you could actually address all these points and not just one:

•   Making sure we stick to original coin rollout plan by putting more coins into circulation.
•   Ensuring Diamond Stabilisation Mechanism gets bigger and better.
•   Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
•   Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
•   Securing the network with massive staking power, making any PoS attacks very costly.

[alba77]

I think reactor is a very bad idea. It will increase the investment and not the commerce which means it just helps increasing the bubble. Every investor wants a minimal profit therefore they have to sell some amount of dmd. It will destroy the exchange rate. You really want 1-2 winner and everybody to lose?

You have to establish an economy behind dmd.

So you don't think the reactor will strengthen the economy, just as the cloudmining did?

[alba77]

popshot

coins in the reactor have an POS advantage over conventional coins? Does this mean that I will receive less from the POS having no coins in the reactor?

No, you will get 50% annually, just as before.

[Sneaking]

Reaching any imaginary number and limiting supply is not gonna change anything unless there is change in demand.

More coins in circulation won't change anything. Value comes almost solely from demand.
If there is no demand there is no value. Hence creating more such items is worthless and insane.
Less coins isn't itself gonna change anything either. Unless there is demand.

For example:

You can try to sell moldy bread with 100$. No one buys and You split it and try to sell that half with cheaper prize tag of 25$ No one buys.
  
   "Reaching any imaginary number and limiting supply is not gonna change anything unless there is change in demand."

   Lets say: I reach half of my last moldy bread bit then there is gonna be lesser bread cause I got hungry and had to eat its other half.
   Still trying to sell that moldy bread half with 25$. And then You suddenly realize something and say it's prize went up back to 50$,
   cause there is less moldy bread available. No one buys. You lower The prize and eat some of bread.

   You repeat The process until You are selling sand grain sized bit of moldy bread with 0.000000001$. You can repeat that to infinity if You want.
   And You ate all of other moldy bread. Good luck selling that grain with no demand.

And demand You can't change by creating more coins or less coins. I know also, limited supply can rise value versus fiat or btc. But coins or fiat doesn't hold any value at all by itself. It is how widely they are accepted as changing material between goods and how widely they are used. Creating demand. We already have infinite amount of coin dividents with any crapcoin everywhere. You can divide 1 coin to infinite digits. And we can all play with digits if there would be demand. Or not.

So You are just saying You want to rise 0.00000001 digit value to 0.0000001 that versus fiat money. Creating profit versus fiat. You have to see You don't have to compare coins that You support to anything and The value comes from itself if it is valuable to You. But then The moldy bread bit may be valuable only to You. Wanting to rise versus fiat money comes only if You are going to get enough people to use and trade vs fiat, as You already know.
-Sneaking

[chilo]

Some good comments.

Sneaking, it is ok to have some doubts. No one forces you to invest in Cloudmining or enter the reactor. You as a Diamond miner and holder already enjoy the added price support and stability engendered by the cloudmining venture even if you are not a share holder. Of course with all of this is risk: we may never see return on investment in cloudmining, DMD value may tank, reactor wallet may be hacked and stolen. We acknowledge these risks and invest accordingly. The difference is, there are people here willing and active to make DMD a success. This involves risk. If you mine and save your coins, or buy from the markets,  you will reap the same benefit as those more heavily involved, just to a differing degree.

I'll give you some background to my entry to crypto currency investment. In my country (Australia), there is a government mandated and regulated superannuation scheme. In May 2007 I had ~110k$au invested in this, unavoidable, 9% of my salary is paid into this. Interest return is 3-10% when the going is good averaged over several years. At the time the Oz stockmarket was around 6900. In January 2009, my Superannuation account was ~50k$au, and the stockmarket around 3300. Today our stockmarket is at 5500, and my super still below the 2007 level. Where did that 60k$ go?

I have not invested anywhere near this lost amount in crypto, and maybe never will. However, I want to hedge my bets over the long term, and I don't think anyone here had anything to do with my lost money. In the next 30-40 years of my working life, I can expect at least 2 global financial crises that will rake away my savings. I want a little beyond their reach, and consider it probable that in the years to come more people will look at this in the same way, increasing the value of all crypto currencies still alive.

This coin has a small but determined and increasing group of supporters and developers who work for long term goals. My guess is, we will be here for the long term.

Good luck with your investments everyone.

chilo