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

[daishi]

Im really tired of the bullshit at danbi's pool. They have constantly been holding money for 7 days, collecting the 50% pos reward of tens of thousands of coins and then paying out. I sent them this email:


You must think the whole world in stupid except for you. Know this, people are REALLY tired of your pool collecting payments and holding them for 7 days and getting 50% on their money. This has been happening for MONTHS. If you dont stop I will start a campaign to boycott your pool.

Vegas

As far as i know he doesn't have POS enabled on the pool wallet. Maybe you should asked him in a friendly way, why he paying out so late, before you enrage and maybe make false accusations. By the way he is one of the main developer behind DMD. I don't think he would do something like that to the community.

PoS is irrelevant in this case. I disable it on the pool wallet, because it fills up the log file and also there is a risk to remain with negative balance when it stakes. Not good for pools.

[vegasguy]

Ok Ive been mining DMD for MONTHS on that pool.. and I can tell you for a fact that over 75% of the time over the last few months, the front end of the pool is broken. Its constant. It has been broken and fixed atleast 10 times over the last few months, no other pool I can think of has this problem. No one else thinks this is strange that one of the largest pools on the internet in constantly broken!?!? More specifically EVERYTHING functions except for payouts... how convenient. Payouts then magically start working about day 8-10. REALLY!??!

And by the way I am an expert on computers. Ive owned multiple computer shops in Las Vegas for 20 years. Software is static, once its fixed, it does not magically change settings on its own. Hardware is frail, and DOES break all the time. For those of you that dont know if the hardware/server failed, the whole pool would be unreachable. What is happening here, is somehow the software changes on its own , which DOES NOT happen in computers. That is why Im so upset, because I DO understand how things work in computers.

Vegas

[vegasguy]

Does any anyone have an estimate of when we will reach 1M DMDs ?

check blockexplorer http://diamond.danbo.bg:2750/chain/Diamond do the mathematics
its a simple fill some points of the past and create a curve that predict the future

i suggest u gather 20 block points like 10000 blocks between them
and trace the avaiable amount of DMD at this points
and then extrapolate that curve into a possible future

and then tell us results so we save our time  

Link is broken

Now, link works.

So here is a rough calculation, based on the time necessary to issue the last 2015 block from block 725'208 to block 723'192 (this is the most accurate data I was given )



According to my calculations, it took 33h 7min 28s to issue those 2015 blocks. So,

33h 7min 28s / 2015 = 33.125 h / 2015 = 0.01643920 h per block.

Therefore, since there are 274'792 blocks between the 725'208th block and the 1'000'000th block, it will take:

0.01643920*274'792 = 4517.3606 h

0.3606 h equals 21.636 min, 0.636 min equals 38s

So it will take  4517 h 21 min 38s from 3rd January 15:43:15 to get to the 1'000'000th block if the rate of issuance stays the same as for the last 2015 blocks. That is of course an approximation,  because we only look at the last 2015 blocks, but according to my calculations, we would reach the 1'000'000th block (1'000'000th DMD) around :

 3rd January  2015 15:43:15 + 189d 10h 7min = 13th July 2015 1:50:0

Of course, this calculation is pretty inaccurate (only 2015 blocks) but I am sure someone else will have access to more data

And in anyway, we are likely to reach the 1'000'000th DMD faster since more Gh are being added to the mining power each day, no ?

P.S.: I am doing my math homework, and seriously, this calculation is a lot more fun

Now I know 1 million coins is a major check point as pow rewards will be lowered by 90%, supply goes way down, but I just wanted to hear what you guys thought on how this will affect dmd?

Vegas

[reftop123]

I've got ''something around'' my usual 3 days dmd from danbi (feels like less than i should get, anyway). But pool says it was paid out and explorer says "Transaction not found'', and, of course, my wallet didn't get it.

[vegasguy]

Ive always been outspoken, and I dont like deceit. You mark my words, within 24 hours, payouts will magically start working on their own, and there wont be an issue with payouts if enough people speak up. This pool is making the 50% pos off YOUR money, and YOU are LOSING your rewards, its as simple as that. If you really sat down and added up how much youve lost in POS rewards because of this pool, you would be as mad as I am.
Vegas

[izhelev]

Now I know 1 million coins is a major check point as pow rewards will be lowered by 90%, supply goes way down, but I just wanted to hear what you guys thought on how this will affect dmd?

Vegas

I expect a price between 0.001 and 0.0015 btc before 1M DMD and between 0.003 and 0.005 after the POW reward reduction at 1M DMD.

[hallared]

Does any anyone have an estimate of when we will reach 1M DMDs ?

....i suggest u gather 20 block points like 10000 blocks between them
and trace the avaiable amount of DMD at this points
and then extrapolate that curve into a possible future....

....So it will take  4517 h 21 min 38s from 3rd January 15:43:15 to get to the 1'000'000th block if the rate of issuance stays the same as for the last 2015 blocks. That is of course an approximation,  because we only look at the last 2015 blocks, but according to my calculations, we would reach the 1'000'000th block (1'000'000th DMD) around :
3rd January  2015 15:43:15 + 189d 10h 7min = 13th July 2015 1:50:0....

....P.S.: I am doing my math homework, and seriously, this calculation is a lot more fun

Well, your calculation looks accurate but…. didn’t your math teacher tell you to read the task description thoroughly before displaying your mathematical proficiency?

In DMD the amount of total coins is not the same as the number of generated blocks, and it was the ”…available amount of DMD…” that Cryptonit mentioned in his suggestion. I’m certain that you can do the same calculation with this parameter instead. As the PoW block reward will change at 1000000 total DMD coins this result will be much more interesting.
 

[DMDCreeper]

Ive always been outspoken, and I dont like deceit. You mark my words, within 24 hours, payouts will magically start working on their own, and there wont be an issue with payouts if enough people speak up. This pool is making the 50% pos off YOUR money, and YOU are LOSING your rewards, its as simple as that. If you really sat down and added up how much youve lost in POS rewards because of this pool, you would be as mad as I am.
Vegas

I don't want to accuse anyone without hard evidence and Danbi has been a great supporter of DMD.  He has continued to run the only major pool for DMD mining which I think keeps coin alive.

I emailed them and he indicated he has been traveling a lot.  Given the holidays this is understandable.

However, I see some serious issues with what's going on with his pool given its size.  To me, the fact that the flagship mining pool for this currency has had so many problems in such a short period of time is a serious concern.  And my experience has been that each time the front end has this problem I do not receive the expected payouts I would get had the pool been running normally.  I am not accusing Danbi or anyone else, but this has happened multiple times in the last couple of months and it just looks bad.

For example, I received no payouts since 30-DEC-2014.  Then I received 2 this morning 3-JAN-2015.  I don't know if the system is fixed or not but if what I received today is the sum total of what I will receive for the 82.5 hours the pool has had a problem then my payments amount to only 60% of what I should be expecting for this time period. For the record, when the pool is running properly, I receive payments like clockwork and its has been very consistent for many weeks so when this happens its easy to see the discrepancy.

Again, this could be a system issue and not wrongdoing by anyone.  It would be a travesty to accuse people who are working hard for the benefit of this currency if they are innocent.  But as I said, this is just not a very good scenario for the only significant pool for mining DMDs.  Even a hint of impropriety could destroy everything DMD has achieved to date.

Danbi, I am sorry to have to post this but I do so to protect the value of my DMD holdings.

[dygus]

Guys what's yours best settings for 290x?

[paladin281978]

1.05 dmd

[hallared]

Does any anyone have an estimate of when we will reach 1M DMDs ?

....i suggest u gather 20 block points like 10000 blocks between them
and trace the avaiable amount of DMD at this points
and then extrapolate that curve into a possible future....

....So it will take  4517 h 21 min 38s from 3rd January 15:43:15 to get to the 1'000'000th block if the rate of issuance stays the same as for the last 2015 blocks. That is of course an approximation,  because we only look at the last 2015 blocks, but according to my calculations, we would reach the 1'000'000th block (1'000'000th DMD) around :
3rd January  2015 15:43:15 + 189d 10h 7min = 13th July 2015 1:50:0....

....P.S.: I am doing my math homework, and seriously, this calculation is a lot more fun

Well, your calculation looks accurate but…. didn’t your math teacher tell you to read the task description thoroughly before displaying your mathematical proficiency?

In DMD the amount of total coins is not the same as the number of generated blocks, and it was the ”…available amount of DMD…” that Cryptonit mentioned in his suggestion. I’m certain that you can do the same calculation with this parameter instead. As the PoW block reward will change at 1000000 total DMD coins this result will be much more interesting.
 

But isn't block reward 1DMD ?

The PoW block reward is 1.05, but then you have to integrate PoS block rewards in the calculation too.

[danbi]

I am a bit busy getting the pool up again, but here is a short update on danbi's pool situation.

The pool scripts, as many of you already know hang from time to time. While this is not normal, it is a known bug in MPOS and results in only processing delays (the fronted display is not updated). No coins are lost.

Around the New Year eve this happened again, and I was able to only address is this morning. That is, restart the scripts manually and wait for them to process all the backlog. The three days backlog took about six hours to process. Then the pool began sending the mined coins... and apparently triggered an wallet bug. (too many transactions, or similar) -- which resulted in the pool not receiving any new blocks.

I then reloaded the blockchain and reset the transactions and the pool was up again. Prepared a list of unsuccessful transactions and started sending them, but the bug was hit again (too many, again). The pool stopped again.

I am now restoring the pool again, and will retry sending the transactions one by one, waiting for confirmations. This will take some more time, but should be ok by tomorrow. No coins are expected to be missing.

Unfortunately, during the recovery period, the pool could not generate coins, for which I apologise.

Hope to be able to work on fixing this wallet issue (which might affect any pool, or even any user) and the MPOS scripts later this month.

Oh, and by the way, danbi's pool has never minted coins that sit there. One could bother to read my many comments back in the thread as to why this is very bad idea (for any pool). You are advised to take your coins off the pool as soon as they are available. Thanks.

[izhelev]

True, so since time I calculated is 6 month, that's 25 % POS. So I take out 25 % of the time... Let's see:

around 20th May 2015 then, taking into account POS and 1.05 block reward.

I expect it to be around 10th April 2015

[izhelev]

True, so since time I calculated is 6 month, that's 25 % POS. So I take out 25 % of the time... Let's see:

around 20th May 2015 then, taking into account POS and 1.05 block reward.

I expect it to be around 10th April 2015

Why ?

There are around 780k DMD at the moment.
We have around 1500 PoW and between 0 and 1100 PoS coins daily.
I suppose around 70% of the coins are in PoS stage, which is 770 PoS DMD daily.
If you add the 1500 PoW coins, that's 2270 DMD daily, or 97 days untill we reach 1M.

Please note, that these calculations may not be true!

[danbi]

Status update about danbi's Pool:

There were 35 transactions that were failed due to the wallet bug, for about 1623 DMD.

All these were manually processed one by one to be sure they go trough without issues.

If you have not received your failed transaction (recorded in the pool's transaction log between 2015-01-03 17:31:29 and 2015-01-03 21:43:52 EET) please let me know with some details.

Hope this issue is now resolved. As a side result the pool will perform a bit faster.

[shveicar]

If you look at the cost of the diamond you will see that it has not changed in relation to the dollar.
 Prior to start the pump and after, the price is 16 - 17 cents. Bitcoin value thus noticeably dropped.
 This means that there is good potential for investment in the Diamonds.

[Vagnavs]

If you look at the cost of the diamond you will see that it has not changed in relation to the dollar.
 Prior to start the pump and after, the price is 16 - 17 cents. Bitcoin value thus noticeably dropped.
 This means that there is good potential for investment in the Diamonds.

yes diamond is looking like a better investment than BTC. Pretty stable.. I may want to buy more if the time is right..

[crazyivan]

So do we have approximate dates, when should we see block halving for POW and POS?

How long do we have to mine it and stake it under current reward?

[shveicar]

So do we have approximate dates, when should we see block halving for POW and POS?

How long do we have to mine it and stake it under current reward?

After reaching 1 million coins reward in the block will be reduced to 0.1 coin. This is for POW.
Reward mode POS will be reduced halved after reaching values of 1.5 million coins.

[hallared]

Does any anyone have an estimate of when we will reach 1M DMDs ?

....i suggest u gather 20 block points like 10000 blocks between them
and trace the avaiable amount of DMD at this points
and then extrapolate that curve into a possible future....

So here is a rough calculation, based on the time necessary to issue the last 2015 block from block 725'208 to block 723'192 (this is the most accurate data I was given )

According to my calculations, it took 33h 7min 28s to issue those 2015 blocks. So,

33h 7min 28s / 2015 = 33.125 h / 2015 = 0.01643920 h per block.

Therefore, since there are 274'792 blocks between the 725'208th block and the 1'000'000th block, it will take:

0.01643920*274'792 = 4517.3606 h

0.3606 h equals 21.636 min, 0.636 min equals 38s

So it will take  4517 h 21 min 38s from 3rd January 15:43:15 to get to the 1'000'000th block if the rate of issuance stays the same as for the last 2015 blocks. That is of course an approximation,  because we only look at the last 2015 blocks, but according to my calculations, we would reach the 1'000'000th block (1'000'000th DMD) around :

 3rd January  2015 15:43:15 + 189d 10h 7min = 13th July 2015 1:50:0

Of course, this calculation is pretty inaccurate (only 2015 blocks) but I am sure someone else will have access to more data

And in anyway, we are likely to reach the 1'000'000th DMD faster since more Gh are being added to the mining power each day, no ?

P.S.: I am doing my math homework, and seriously, this calculation is a lot more fun

Well, your calculation looks accurate but…. didn’t your math teacher tell you to read the task description thoroughly before displaying your mathematical proficiency?

In DMD the amount of total coins is not the same as the number of generated blocks, and it was the ”…available amount of DMD…” that Cryptonit mentioned in his suggestion. I’m certain that you can do the same calculation with this parameter instead. As the PoW block reward will change at 1000000 total DMD coins this result will be much more interesting.
 

But isn't block reward 1DMD ?

The PoW block reward is 1.05, but then you have to integrate PoS block rewards in the calculation too.

True, so since time I calculated is 6 month, that's 25 % POS. So I take out 25 % of the time... Let's see:

around 20th May 2015 then, taking into account POS and 1.05 block reward.

Well Knight, your first calculation was ok mathematically but then you tried to substract a percentage from your first result to calculate something new, which was illogical and incorrect. Percentage is not just a percentage you can use as you see fit, it always represents a percentage of something. Therefore you should be aware of from which parameter you calculate the percentage. Let me give you an example.

Lets say that I solomine 1 DMD per day on average. How many days will it take to reach 100 DMD? Yes, obviously it takes 100 days, but how do we calculate it? Well, we just take our goal of 100 DMD and divide it by 1 DMD/day which equals 100 days (100/1=100). Lets say that my average of mined DMD increase by 5% to 1.05 per day. Then I can’t just substract 5% from my previous result of 100 days and get 100-0.05*100=95 days. Instead I use my formula above and take 100 DMD divided by 1.05 DMD/day = 95.24 days (100/1.05=95,24). As you can see it’s not the same result. And it becomes much more clear if we assume that my average of mined DMD increase with 50% instead to 1.5 per day. Substracting 50% from 100 days equals 50 days, but 100/1.5=66,67. That’s a big difference.

So, in your first computation you calculated how long it would take to generate 274792 blocks, which you assumed was the same as 274792 coins. When you realized that the block reward was 1.05 (see post #4912) and tried to compensate for it you thought wrong however. Instead of trying to substract 5% you should have added 5% to the block reward and calculated how long it would take to generate 274792 coins with this new data, like this: 274792 coins divided by 1.05 coins per block equals 261706.67 blocks multiplied by your own result 0.01643920 hours per block equals 4302.25 hours. (274792/1.05*0.0164392=4302.25). That’s not the same as your 5% substraction: 4517.3606 – 0.05*4517.3606 = 4291,49 hours.

Then you were trying to compensate for PoS rewards by doing yet another substraction, this time by 25%, which is also mathematically wrong. The PoS reward is actually quite difficult to implement in a calculation as it varies a lot depending on the amount (coin pile) that is staking, which is decided by both coin age and randomness. Therefore it’s quite complicated to do a forecast that involves PoS, and the frequency of generated PoW blocks could vary a bit too. So how do we calculate the time to reach 10000000 coins then? There are different ways to do it, but lets look at one example of a rather simple way to do an estimation.

We doesn’t really have to think about PoW or PoS. If we want to try to estimate a certain time when a certain amount of coins will be reached we should concentrate on generated coins per time unit. For example, using the last 7 days as data we find that there were 784178.85 total coins at the end of 3rd january and 769461.74 at the start of 28th december. That’s a difference of 784178,85-769461.74=14717.11 coins. Average coins per day is then 14717.11/7=2102.44. To reach 1000000 total coins there must be another 1000000-784178.85=215821.15 coins generated. Well, we just need to use the formula again and take 215821.15 coins divided by 2102.44 coins per day equals 102.65 days (215821.15/2102.44=102.65).

This means that according to the calculation above 1000000 total coins will be reached on the 16th april 15:39 PM (UTC time). This is only one way to do an estimation, so of course if you use other data, or take other factors in account, or if the average of total coins increase or decrease over time, then the result will be different. So to you all, feel free to present your own calculations and predictions. When using additional data and assumptions, my educated guess is on the 21st april, but who knows. ”Clouded the future is…”