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

[Tristan1337]

I am just honestly curious, have you considered what will happen if there are not enough MN?

such a situation can not happen even in testnet with limited amount of people we hat 30 MN up and running
more then enough

the network need just above 10 MN
and even below its just things like quickTX temporary wont be available
an no bigger harm to the network

and the advantage of income for MN as long as there are less than 100 active is just crazy
so i see a strong motivation get additional masternodes online

still no stress first 7 days are 99% reduced rewards so everyone can stressless upgrade and set up his POS or MN nodes

I am sure the network will be fine.

My worries are that very few people will get 300% return per year for their MN, while the rest will get 25% for normal POS, which seems very unbalanced. As you said, just crazy, but I don't see this as a good thing, it could lead to a "rich get richer" scenario and more centralisation.

And yes, there are 7 days to set everything up, but as I said, for someone who has a few hundred or even a few thousand DMD it is pretty much impossible or at least very expensive to get enough DMD for a MN in that time.

I know there was talk of having distributed MN, which would solve the problem, but unless that is implemented I am sceptical.

I was just thinking that it would make more sense to have a wider adoption of masternodes.

Needing less than 2000 DMD would open the door to more people and help increase the price more, so even if there were more masternodes around it would increase their income since the price would be higher.

Since there would be a bigger chance of a price increase due to wider masternode adoption, it would in-turn increase the incentive for normal user investing.

Sounds like a win win to me.

as i did understand luis from miningfield
he will launch with a shared masternode 3rd party service a few days after release
(we did see his service page already active in the last testnet)
so with as low as 100 DMD i think u can be part of a MN there

there is no entry barrier

and if to much DMD is moved into MN and shared MN at a point POS become more rewarding then MN
so it will be balancing itself that always enough POS and enough MN will be active

I guess this would work the same then. 

[NoxX]

Yes, that is good to hear.

I just checked out miningfield, looks like they ran a test on shared MN already. Once this is live, it is probably worth putting this on the main page to let people know

[Trimegistus]

Is the previously released guide to setting up a TOR MN the final one?

I remember there was an intention to update it somehow.

Any news on that front?

EDIT: Just found a new guide on Slack 

[Rumhurius]

10k for a mn is fine imo

[danbi]

The shared masternode technology was engineered and tested already. There can be also many providers of such service, so no centralisation of coins need to happen.

In addition, we are prepared to offer hosted masternodes, that is, you have the Diamonds, we have the hardware/software/network/setup and you just "invest" your 10k DMD in running (renting) one. The network benefits from having more masternodes and you, the investor benefit from higher payout on your 10k DMD investment. Again, there might be many providers of such services.

Or you can arrange it all yourselves. It's everyone's choice how to invest/benefit -- or just play with all this stuff.

[cryptonit]

we run the last overnight tests
all was successful so far
we go to bed when we wake up and everything is still as expected great
we open the gates!

[Rumhurius]

we run the last overnight tests
all was successful so far
we go to bed when we wake up and everything is still as expected great
we open the gates!

yay
My body is fukin ready

[mitchellmint]

I am just honestly curious, have you considered what will happen if there are not enough MN?

such a situation can not happen even in testnet with limited amount of people we hat 30 MN up and running
more then enough

the network need just above 10 MN
and even below its just things like quickTX temporary wont be available
an no bigger harm to the network

and the advantage of income for MN as long as there are less than 100 active is just crazy
so i see a strong motivation get additional masternodes online

still no stress first 7 days are 99% reduced rewards so everyone can stressless upgrade and set up his POS or MN nodes

We have a few MNs.  We will be fine.  Website shows V3... but goes to v2... TEASE!!

[popshot]

AS a reminder on how to prepare yourself for transition from DMD 2.0 to DMD 3.0. It's not recommended using any other method.

Exporting and Importing Private Keys

https://bit.diamonds/how_transition_short.pdf

[popshot]

Website shows V3... but goes to v2... TEASE!!

The link will be updated once the software is out. Hold your horses

[mitchellmint]

AS a reminder on how to prepare yourself for transition from DMD 2.0 to DMD 3.0. It's not recommended using any other method.

Exporting and Importing Private Keys

https://bit.diamonds/how_transition_short.pdf

I do offer my services to remote to your computer (Citrix GoToAssistant) and convert the coins for you.  I know its a leap of faith and its hard to Trust people but, Im always willing to help for a couple Trust Points on BitCoinTalk.

[Alex68]

Don't you guys think 10000 DMD is a little too much to be a masternode? 

Under 2000 would make more sense.

This confuses me a bit because you have presented no argument.

Just wondering why you think it would make more sense??

Just curious

It depends on how high the price would go in the future and may be masernode becomes unreachable for a common investor if there are too many high value coins required to run one.

Regarding master node requirement of 10,000 DMD: it's definitely now a small amount at the moment, however if you compare with DASH masternode 1,000 dash or XEM masternode requirement of 3,000,000 XEM - than DMD masternode seems to be more "affordable"...
Good that miningfield offers shared masternode, hope they will add more masternodes in the near future, not the only one.

[Slydrule]

Don't you guys think 10000 DMD is a little too much to be a masternode? 

Under 2000 would make more sense.

This confuses me a bit because you have presented no argument.

Just wondering why you think it would make more sense??

Just curious

It depends on how high the price would go in the future and may be masernode becomes unreachable for a common investor if there are too many high value coins required to run one.

Regarding master node requirement of 10,000 DMD: it's definitely now a small amount at the moment, however if you compare with DASH masternode 1,000 dash or XEM masternode requirement of 3,000,000 XEM - than DMD masternode seems to be more "affordable"...
Good that miningfield offers shared masternode, hope they will add more masternodes in the near future, not the only one.

You can't compare DMD to Dash or XEM.  DMD has a market cap of less than 4000 BTC.  Those other two coins have market caps over 500,000 BTC.   Considering DMD has a daily trading volume of about 20 BTC or about $108,000, an investment of $54,000 for a MN seems exorbitant.  Just my 2 cents.

[crazyivan]

People, masternode collateral will not be changed. There re dozens of people in our community who have been collecting DMD for years in order to be able to start a masternode and this reflects a true nature of DMD being a long term, stable source of income for many, many years to come.

It is not and it will not be a get rich quick scheme. Due to this stability and devotion DMD price s been going up and we have maintained price stability even in this FUD crypto times.

Having said this, there is an alternative to running a masternode, just run a simple PoS. True, masternode earnings will be a bit higher but this is not that big difference, so there will not be 300% vs 25% difference. I d say the difference will be under +5% for mastenode owners and all this is just my personal assesment since it depends on the number of masternodes being run.

I d say we ll have around 100 masternodes so there is no fear of too few of them being around.

All in all, whichever option your choose, either staking DMD or running masternode(s), you will be making money. So there is really no need to be unhappy about this since we try to desing DMD to be profitable for everyone.

I do suggest you join our slack channel, here is the invite:

DMD Slack
Slack Invite

Cheers and thank you.

[BITCOINDENMARK]

clicking the 3.0 wallet link = 2.  on webside   ?

[crazyivan]

clicking the 3.0 wallet link = 2.  on webside   ?

V3 will be available withing the next 24 hours. Please have a bit more patience, we are almost there, V3 DMD network genesis block has been found and we will publish the new wallet after these last checks.

[Trimegistus]

The community is anxious...

[stoody]

The community is anxious...

hahahaha... thats gold

[markm]

So can we just keep trying "git pull" in our existing diamond git directory until suddenly lo and behold it will pull the new code for us?

Also do we have to have a whole copy of the blockchain per each "master node" or can one instance of diamondd and blockchain serve as several masternodes?

I only have one fixed IP address so am setting up a tor machine as I need to run eight masternodes right away and shortly probably nine...

-MarkM-

[Trimegistus]

There is one thing confusing me...

I've been reading the guides to set up the TOR MNs and I still don't understand where the generated coins will be sent to.

Do we have to configure some kind of scrape address? What am I missing