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

[M1ST3R]

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

if u run a stable online masternode it will average out
and u reach over time the statistic fact that if there are 100 masternodes u earn 1% of all masternode rewards with 1 masternode
its same as mining it total based on luck
but still who have more hashrate will over time earn more rewards

POS in DMDv3 is like mining without powerwaste with ur coins
MN in DMDv3 is like mining without powerwaste with ur coins

based on ur share of DMD u choose the way how u will take part in DMD coin rollout

every way will earn u rewards

It would be more fair to split the POS reward equally among currently active masternodes instead of just randomly give the reward to 1 masternode.

[shveicar]

Quote: "In the near future DMD Diamond will feature a second more complex and more secure address schema (far beyond what Bitcoin protocol offers) which will make it much harder for brute force quantumcomputer attack to be successful."

Will this affect the possibility to import old private keys from DMD v2?
 

Of course, we will have full compatibility of both wallet.dat files and private keys for import into a new wallet.
This was initially one of the most important points in the upgrade.

Just to be clear; you are saying that a future implementation of a more complex and secure address schema (to prevent brute force quantumcomputer attacks) still will correspond to the original private keys belonging to the original DMD v2 addresses?

About this point.
This issue is now in development.
As one of the options is considered a system in which there will be several addresses.
One standard (the same as now in version 2.0) and the other is more secure (with increased stability to quantum search).
The user himself will determine which of the addresses is more suitable for it.
In particular, it will be possible to transfer coins from a short address to a long one.
Old (short addresses) will gradually go out of circulation and will be replaced by more reliable and long ones.

[M1ST3R]

@ DMD Team

I have read the DMD White Paper and it's a nice piece of work and interesting reading. I have some questions though.

Quote: "Stage 1: from 2017-09-01 till 2018-02-01
From Block 0 till Block 115200 the reward will remain constant at 2.35DMD. Diamond's yearly monetary inflation will come down from the starting position of 23.7% and drop to 21.6% within 6 months time.

Stage 2: from 2017-03-01 till 2020-08-01
From Block 134400 till Block 691200 the reward emission will follow a curved line decreasing rewards slightly each month from 2.29DMD per block to 0.55DMD within 29 months. Also, a yearly monetary inflation rate will decrease substantially from 20.6% to 3.8% within that period.

Stage 3: from 2020-09-01 till 2027-07-01
From Block 710400 till block 2284800 the reduction in network rewards will slow down from 0.5 DMD to 0.157 DMD per block, while annual monetary inflation will fall from 3.5% to 0.96% within that period.

Stage 4: from 2027-08-01 - ongoing
From Block 2304000 onward the network rewards will remain at constant level of 0.1563 DMD per block. Yearly inflation will be reducing slowly from 0.95% to 0.87% in the space of 10 years."

It seems that some block intervals are missing between the stages. What will the block reward be for example between block 115200-134400? It also seems to be some discrepancies between the dates of the stages?

In the White paper there are no mentioning about PoS maturity time after successfully minting a block. Does that mean that the same coin pile can mint two blocks in a row if lucky? Or is there still some maturity time, corresponding to the nine days in DMD v2?

Quote: "Only the control wallet which start the Masternode and delegates the work towards it must have access to the private key of the address with the coins."

Does this mean the control wallet with the collateral must be online continuosly? If not, what does "delegates the work" mean?

Some elaboration regarding these mentioned "ghost coins" would be appreciated. What exactly is it?

Quote: "In the near future DMD Diamond will feature a second more complex and more secure address schema (far beyond what Bitcoin protocol offers) which will make it much harder for brute force quantumcomputer attack to be successful."

Will this affect the possibility to import old private keys from DMD v2?
 

The White Paper is a first draft, so I would assume it's just typos or miscalculations for the date and block discrepancies.

[NoxX]

Not sure if this is mentioned in the Whitepaper somewhere, but is looks like 140 MN is around the tipping point where MN give less return than POS

to see when POS rewards beat MN rewards u not only have to take in account how much masternodes are active
u additional have to take in account how much coins participate in POS

the less competition in POS the more often u earn rewards
this means even below 140 masternodes it can make sence move coins from MN towards POS

this is what we call a selfadjusting system that always take care a healthy amount of people participate in POS

Yeah, that makes sense. I am just trying to get my head around everything. What happens if there are too few MN and there are not enough DMD being sold to accumulate 10k? I guess the idea is that at such a high price people would sell enough for other people to accumulate...

[cryptonit]

@ DMD Team

I have read the DMD White Paper and it's a nice piece of work and interesting reading. I have some questions though.

What will the block reward be for example between block 115200-134400? It also seems to be some discrepancies between the dates of the stages?

typo slow reduction of rewards start at 115200

In the White paper there are no mentioning about PoS maturity time after successfully minting a block. Does that mean that the same coin pile can mint two blocks in a row if lucky? Or is there still some maturity time, corresponding to the nine days in DMD v2?

there is a mature time and a min pos age
we experment with smooth values actual testnet runs 200 mature blocks and 12 hours min age
final values will be part of a whitepaper upgrade

Quote: "Only the control wallet which start the Masternode and delegates the work towards it must have access to the private key of the address with the coins."

Does this mean the control wallet with the collateral must be online continuosly? If not, what does "delegates the work" mean?

setup of remote masternode will be part of a guide we provide at release
delgate work basically means the 24/7 online node in fact is empty without coins
and the node who have really the coins is the control wallet which in fact can go offline after started the remote masternode
this is a great security gain to run a masternode without risc  on a VPS

Some elaboration regarding these mentioned "ghost coins" would be appreciated. What exactly is it?

this are unspeandable (thats why we call them ghost coins they not really exist the just there to enable 15 special masternodes but this coins cant be used for anything beside that)
coin pile of 10000 DMD that act as masternode colateral of the 5 foundation and the 10 legendary10 masternodes
each of this masternode is only able compete for MN rewards if he run a 24/7 node like any other masternode

Quote: "In the near future DMD Diamond will feature a second more complex and more secure address schema (far beyond what Bitcoin protocol offers) which will make it much harder for brute force quantumcomputer attack to be successful."

Will this affect the possibility to import old private keys from DMD v2?

as stephan answered already its a feature in planing that come as addon in a future release
that a second longer more secure address will added into the wallet
both old and new addresses will be useable
but logical from the point on we introduce high secure addresses they will be used as default

the transformation DMDv2 DMDv3 is described at end of whitepaper
old wallet.dat can be scavaged (import all address data and password protection) and single address prive keys can be imported (importprivkey)
 

[cryptonit]

I am just trying to get my head around everything. What happens if there are too few MN and there are not enough DMD being sold to accumulate 10k? I guess the idea is that at such a high price people would sell enough for other people to accumulate...

to few that would be below 20

but if there are just 20 MN that means they earn 5x more then a MN if there are 100 MN
im very sure noone would let this chance pass to fill and start a masternode

the rewards to run a masternode increase if competition decrease (reward is static but u get rewarded more often...)

where in ur szenario are all the DMD
if they not sold on exchange and not run inside MN?

its not a realistic szenario

25% coins exchange and idle in wallets
25% coins active participate in POS
50% coins active participate in masternodes

this is how the rewards are designed

if in one area less coins the participants start to earn more
if in one area are more coins the participants start to earn less

selfadjusting system people will move coins where they earn most

[cryptonit]

even the whitepaper https://bit.diamonds/DMD_WP_1.0.pdf not designed as hype doc
but instead as a reasoning behind the changes and a sneak peak into the future
it affect the markets possitive
seems the people needed numbers before really believe that have a masternode will be a great asset in the future

[mikebit]

Can anyone point me to help page where it shows how to stake your coins?

[cryptonit]

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

if u run a stable online masternode it will average out
and u reach over time the statistic fact that if there are 100 masternodes u earn 1% of all masternode rewards with 1 masternode
its same as mining it total based on luck
but still who have more hashrate will over time earn more rewards

POS in DMDv3 is like mining without powerwaste with ur coins
MN in DMDv3 is like mining without powerwaste with ur coins

based on ur share of DMD u choose the way how u will take part in DMD coin rollout

every way will earn u rewards

It would be more fair to split the POS reward equally among currently active masternodes instead of just randomly give the reward to 1 masternode.

its not random
its  a consensus of the masternode peer to peer network
but its a complicated not predictable behavior so we call it luck

its like a rollete there is no luck involved but still noone can predict what number win the next round
over all we know each number wins at average same often

[cryptonit]

Can anyone point me to help page where it shows how to stake your coins?

DMDv2 POS

https://bit.diamonds/community/index.php/topic,127.0.html

[M1ST3R]

Also, the mechanism that choose which masternode receives the POS share reward is boiled down to luck?

if u run a stable online masternode it will average out
and u reach over time the statistic fact that if there are 100 masternodes u earn 1% of all masternode rewards with 1 masternode
its same as mining it total based on luck
but still who have more hashrate will over time earn more rewards

POS in DMDv3 is like mining without powerwaste with ur coins
MN in DMDv3 is like mining without powerwaste with ur coins

based on ur share of DMD u choose the way how u will take part in DMD coin rollout

every way will earn u rewards

It would be more fair to split the POS reward equally among currently active masternodes instead of just randomly give the reward to 1 masternode.

its not random
its  a consensus of the masternode peer to peer network
but its a complicated not predictable behavior so we call it luck

its like a rollete there is no luck involved but still noone can predict what number win the next round
over all we know each number wins at average same often

I'm certain steps are taken to prevent reward exploitation. However, no matter what name you call it,  it is still luck that decide the selection.  Still I think splitting the reward equally among active MNs on every POS block is a better and fair solution.  Any chance that will be implemented or is the consensus system is already set in stone?

[cryptonit]

I'm certain steps are taken to prevent reward exploitation. However, no matter what name you call it,  it is still luck that decide the selection.  Still I think splitting the reward equally among active MNs on every POS block is a better and fair solution.  Any chance that will be implemented or is the consensus system is already set in stone?

there is no chance that code parts get changed
because we want to be combatible with DASH masternode technology
that allow us implement any interesting improvements from whole masternode development community

without question masternode technology is implemented first by DASH and they put in high effort improve it

just i dislike their POW centric approach and the really high 10% masternode rewards taken out of system for development

as always DMD takes long developed and stable secure blockchain features and combine them in the DMD style

combined with a rock solid coin rollout plan and a few innovative features on top that dont break combatibility

its the same with bitcoin code improvements

we have with DMDv3 a state of the art implementation of bitcoin code improvements and the path towards stuff like segwit and lightning in the future is open

[M1ST3R]

I'm certain steps are taken to prevent reward exploitation. However, no matter what name you call it,  it is still luck that decide the selection.  Still I think splitting the reward equally among active MNs on every POS block is a better and fair solution.  Any chance that will be implemented or is the consensus system is already set in stone?

there is no chance that code parts get changed
because we want to be combatible with DASH masternode technology
that allow us implement any interesting improvements from whole masternode development community

without question masternode technology is implemented first by DASH and they put in high effort improve it

just i dislike their POW centric approach and the really high 10% masternode rewards taken out of system for development

as always DMD takes long developed and stable secure blockchain features and combine them in the DMD style

combined with a rock solid coin rollout plan and a few innovative features on top that dont break combatibility

its the same with bitcoin code improvements

we have with DMDv3 a state of the art implementation of bitcoin code improvements and the path towards stuff like segwit and lightning in the future is open

Oh, did not know that Dash Masternode Tech is being used so everything, reward wise, is already set.

[cryptonit]

Oh, did not know that Dash Masternode Tech is being used so everything, reward wise, is already set.

every masternode coin is based on DASH masternode technology
but only few of them use the newest masternode implementation and are full upgrade combatible like DMD Diamond


DMDv3 contains masternode technology invented by dash
POS3 technology invented by blackcoin
and blockchain technology invented by bitcoin

and some improvements adaptions special in the area POS and zero micomanagement abilities done by DMD devs
and the unique to DMD coin rollout with constant decreasing inflation and starting in 10 years even deflations mechnism
that take care that each DMD become more valueable over time

important for a good coin is that u not only put in good stuff but that u also take care the stuff fit well together

we all love chocolate icecream and we love pizza
but chocolate icecream on a pizza that maybe doesnt fit.....

[shveicar]

Oh, did not know that Dash Masternode Tech is being used so everything, reward wise, is already set.

every masternode coin is based on DASH masternode technology
but only few of them use the newest masternode implementation and are full upgrade combatible like DMD Diamond


DMDv3 contains masternode technology invented by dash
POS3 technology invented by blackcoin
and blockchain technology invented by bitcoin

and some improvements adaptions special in the area POS and zero micomanagement abilities done by DMD devs
and the unique to DMD coin rollout with constant decreasing inflation and starting in 10 years even deflations mechnism
that take care that each DMD become more valueable over time

important for a good coin is that u not only put in good stuff but that u also take care the stuff fit well together

we all love chocolate icecream and we love pizza
but chocolate icecream on a pizza that maybe doesnt fit.....

Exactly.
It's like a lot of talented musicians who try to play together.
If they do not have a conductor, then instead of music, we will hear a cacophony (a set of different sounds) 

[M1ST3R]

Oh, did not know that Dash Masternode Tech is being used so everything, reward wise, is already set.

every masternode coin is based on DASH masternode technology
but only few of them use the newest masternode implementation and are full upgrade combatible like DMD Diamond


DMDv3 contains masternode technology invented by dash
POS3 technology invented by blackcoin
and blockchain technology invented by bitcoin

and some improvements adaptions special in the area POS and zero micomanagement abilities done by DMD devs
and the unique to DMD coin rollout with constant decreasing inflation and starting in 10 years even deflations mechnism
that take care that each DMD become more valueable over time

important for a good coin is that u not only put in good stuff but that u also take care the stuff fit well together

we all love chocolate icecream and we love pizza
but chocolate icecream on a pizza that maybe doesnt fit.....

Good point and analogy.

[shveicar]

It is interesting to see how the list of countries on the map has changed recently.
We have a lot of new users from different countries.
Hi and welcome to new Diamond investors 

[Rumhurius]

https://bit.diamonds/community/index.php/topic,165.msg1269.html#msg1269

Thank you everyone for taking part in this year’s DMD Diamond birthday cake competition.
As always your effort and dedication were amazing and as always it was incredibly difficult to choose a winner as all your work deserved being rewarded.
The consensus was achieved through multi stage voting that resulted in selecting 5 finalists and then the winners. Here are the results:

1st place – HALLARED



2nd place - EMMYTIM  



2nd place – YELENA



There are two second places with 100 DMD reward each. There is no 3rd place.
However, the two contestants who didn’t make to the podium will be rewarded with 10 DMD each.

4th – DIAMOND_MAZIEEKA



5th - DASSJDK



As we mentioned above, all the works were excellent and we feel that every contestant should get a reward.
This is why BB2EBB, EXTRAWELT, HALLER, CAPRICOINN, HSBOOKWORM, KITKAT and CARFACE receive 4 DMD each

We hope you enjoyed the whole experience and next year we’ll again see your entries.

May I ask everyone to contact me directly and provide your DMD Diamond addresses to which we’ll deposit the prizes!


(on DMD Forum)

I must say that me and my wife are very happy to have won once again, but also a bit surprised since there were many nice and beautiful birthday cakes this year. It was wonderful to look at all the lovely pictures in the thread, we wanted to have a taste of them all

Congratulations to all participants, as DMD holders we are all winners!
 

Wow i wish i could bake like that or knew someone that could.
Damn you really had some real tough competion this year.
They all look awesome and very professional.
Congratz to the winner.
Well backed my friends. Well backed.

[NoxX]

Hm, Bitcoin just lost 10%, but so far DMD is holding steady.

Any predictions if / how the BIP148 madness in August will affect DMD?

[shveicar]

Hm, Bitcoin just lost 10%, but so far DMD is holding steady.

Any predictions if / how the BIP148 madness in August will affect DMD?

You want to give you a full and reliable forecast for the growth of value here? 
I think that this is superfluous.
I will say only one thing, the one who believes in Diamon in the future will be really rich.