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

[2tights]

Hello Community,

I want to update everyone on the progress of things and I'm honest as always just like each team member of Diamond Coin.

I don't want it to be another apologetic message but a frank assessment. 

As everyone knows the Block Chain went down last Wednesday (for us it was). As we were working on a new client client for quite some time we thought it would make more sense to release it then and there rather to use hardfork fix on the old wallet and do another hardfork soon after to switch it to Groestl algorithm.

The whole sudden situation caught us with our pants down, but we were convinced everything would work, because it worked in the lab, unfortunately as it turned out soon after it failed in the field.

Some people here accused us of not doing enough testing and, yes we didn't do enough because of the crazy short time frame we had to stick to to deliver a working client for Cryptsy. It was ready by Friday, unfortunately the problem with the database forced us to concentrate on making a patch. After that it turned out that mining pools on stratum do not accept blocks. We had a bit of lax day on Sunday just to have a bit of breathing space as most of us have slept for 4-2h per night over the previous several days. On Monday after talking directly with the pool owners we switched our focus to the code and started analysing its behaviour. We have identified possible sources of problems and now we are rebuilding the code to make it work as it was intended to work form the start. We have our own stratum server and can test any changes confirming it plays nicely so we could be 100% sure we wouldn't see any unpleasant surprises next time.

We have made some changes in the dev team setup which is more optimal and allows for better quality testing. We all agreed that this release in no way meets our quality expectations and to overcome this we decided that we won't limit ourselves with fixed deadlines - we will deliver product that is 100% working with stratum and everything else. 

The network is stable now, solo mining is working correctly, coins are transferable, I suspect there would be no problem with setting up working non-stratum 'getwork' mining pool (for the time being), Cryptsy is notified and should be working on implementing the new wallet this week.

I sincerely believe that you as community should not be worried at all, but trust us to put it right. We are working really hard and we won't stop until it's properly done.

Regards,
Alex

the main issue is getwork pools are not ideal due to the protocol. They are major resource hogs.

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

[cryptonit]

the main issue is getwork pools are not ideal due to the protocol. They are major resource hogs.

we full agree

just if someone wana create a temporary pool it would be a option
or set up a p2pool
(could ask for higher fees for more bandwith useage)
until we fixed the stratum combatible mining

cpu miner as example or singlegpu miner would sure spend the extra fee to mine on a temporary getwork pool to escape the find block lotto

its not like we earn anything if we give the hint that such a pool could pay off his aditional "resource costs"

[cryptonit]

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

its opposite way around
small miners are cpu or single gpu miner
and this people want to escape the solo mining lotto

i understand we all know pools will increase nethashrate

but main purpose of this mining is spread coins between as many interested people as possible

not that a few people earn a golden nose

the golden nose phase is later when even without mining u can see how ur diamonds increase  

[2tights]

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

its opposite way around
small miners are cpu or single gpu miner
and this people want to escape the solo mining lotto

i understand we all know pools will increase nethashrate

but main purpose of this mining is spread coins between as many interested people as possible

not that a few people earn a golden nose

the golden nose phase is later when even without mining u can see how ur diamonds increase  

I don't think you can speak for everyone, because I don't want to get out of the solomining. There is a great sense of gratification that comes from accomplishing it on my own.

But I also don't want to be pushed out by pools.  It'll be bitcoin all over in that solomining will die quickly and pools will reign supreme.

Maybe its time to make my own coin which forbids pool mining.

[cryptonit]

I don't think you can speak for everyone
It'll be bitcoin all over in that solomining will die quickly and pools will reign supreme.

its not poolmining against solomining
its asic against everymans hardware

and by move towards groestl we did clear choose a mining type where everyone can take part and not a few big asic owner
groestl is also much more friendly to a broader spectrum of possible mining hardware (amd, nvidia, cpu, and soon even arm based tablets/smartphones)
yes groestl wont be asic resistent forever but our prime mining window is expected to be around 15 months and we think noone will invest into asic development for such a timeframe


everyone can have his own opinion
my opinion isnt better than yours
but my opinion is the basic of the diamond coin specs  

[popshot]

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

Well, there are two sides to this. Introducing mining pools would indeed centralise mining, adding stratum which uses getblocktemplate makes it more secure for the network. But in essence they do the same job and 90% of miners wouldn't see any difference whether it's stratum or not. 'Getwork' pool is indeed a bandwidth hog but such pool would be a temporary measure until we release stratum compatible client.
Solo mining is a game of luck, you never know when you would come up with the correct hash - the more power you have the higher your chances, however already several people gave up on solo mining because of difficulty being too high for them. Mining pool with PPS for example is a different matter it allows whoever with whatever mining gear to join in and get paid for the amount of shares he contributed. We would definitely see more people mining making the coin available to greater group of people. Big MegaHashers would still keep their share while smaller ones would not waste their electricity in vain waiting for the miracle.

I think it should be a democratic decision and the community should choose which path to take. If there was someone who would set up an oldschool pool we would see how much hash support he would get and how much solo miners ...

[2tights]

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

Well, there are two sides to this. Introducing mining pools would indeed centralise mining, adding stratum which uses getblocktemplate makes it more secure for the network. But in essence they do the same job and 90% of miners wouldn't see any difference whether it's stratum or not. 'Getwork' pool is indeed a bandwidth hog but such pool would be a temporary measure until we release stratum compatible client.
Solo mining is a game of luck, you never know when you would come up with the correct hash - the more power you have the higher your chances, however already several people gave up on solo mining because of difficulty being too high for them. Mining pool with PPS for example is a different matter it allows whoever with whatever mining gear to join in and get paid for the amount of shares he contributed. We would definitely see more people mining making the coin available to greater group of people. Big MegaHashers would still keep their share while smaller ones would not waste their electricity in vain waiting for the miracle.

I think it should be a democratic decision and the community should choose which path to take. If there was someone who would set up an oldschool pool we would see how much hash support he would get and how much solo miners ...

I suppose that PPS makes sense if that's available soon it'll be welcomed.

[2tights]

danbi's DMD pool - never received a confirmation email. If you'd like me to test on your pool, please unlock my account

[bitcoinvideos]

I'm stuck downloading the blockchain right now around 386228 block from 7 days ago...any ideas?

[bitcoinvideos]

Ok well now it looks like it is good to go. Deleted the block and redownloaded from the mega.co link. Seems to be ok now...weird!

[bitcoinvideos]

edit: removed and fixed.

[cryptodave]

CryptoCoinsInfo.com

Mining calculation is now working for Diamonds with Groestl algo!

Check the detail page for 24h & 30 days difficulty and price stats. All values are nearly realtime, max. 60 secs delay.

[srcxxx]

Hi!

Where can you buy/sell DMD right now?

Is cryptsy now fixed?

Thanks

[jepistons]

atm no where got to wait till cryptsy fixes wallet

[kenboy]

good coin,I like the name~~and logo is also beautiful

[danbi]

why is it such a huge deal for pool mining to get rolling? I thought the change in algo was trying to create a more equitable landscape for individuals looking to be involved.  The only thing that pool mining will ensure is that the hashing power is centralized and small solominers will leave.

It is very probable that the code changes in the wallet to make pool mining work will require another hard work. If pool mining was functional today, much fewer wallets would exist and thus much less wallets needed to be updated.

Now, with so many solo miners, it will be great nightmare to implement such fix, and it must be done right the first time, as otherwise things will get even worse.

What pool mining achieves is exactly the opposite of what you stated: more smaller miners will join, because they cannot "sanely" mine at the current difficulty. Forget all the "statistics" and "luck" explanations -- when you tell someone they need to mine a week in order to find (eventually) a diamond, they will just prefer to mine something else. You don't solo mine Bitcoin nor even Litecoin anymore, do you?

[danbi]

danbi's DMD pool - never received a confirmation email. If you'd like me to test on your pool, please unlock my account

Your account is unlocked, but please note except at times when I am hacking the stratum/wallet code, your hashrate is wasted. We do regularly find blocks... and the wallet consistently refuses all of them. I hate to see how many coins we actually found

[danbi]

A rule of thumb to determine how many DMD you will mine in a day:

15 divided by the averaged diff, multiplied by the MH of your rig.

Ex:  15 / 40 * 80 MH = 30 DMD per day.



EDIT:  If you are mining 24/7 for a week, it makes no difference, whatsoever, if you are mining solo or in a pool - it is like a lottery - pure statistics/probabilities - you WILL get the results above, on average, after a week. It doesn't matter how small or big your are - this is a misconception that small miners are disadvantaged... If you have a good internet connection, you will reach those numbers.

But, if you don't mine constantly, or, if you are a coin hopper, then, yes, it will make a difference.

Solo mining promotes loyalty to a coin - Pools promote hopping between coins.


EDIT2:  BTW GRS (or any other Groestl-based coin) is the same formulae above, just multiply the result by the reward value (currently at 353 GRS/block).

The statistics part of this is more or less correct. However, pools to not exists only to concentrate hash power -- at least not the classic pools. This is more a feature of the p2pool type pools, that do indeed promote hopping.

A "normal" mining pool is more of a coin network service. It not only provides for more even earnings, but also additional services, such as worker monitoring, various statistics, communication etc.

A coin can survive without any working pool, everything solo mined. But, imagine someone invests in huge hash power and is able to solo mine most of the coins. When you don't find a single diamond in a week or a month, you will eventually give up and that guy will end up with all the coins. It's statistics again...
In situations like this, you could look at pools as the nuclear weapons in the Cold War era

Anyway, again: look at pools as service to miners. This is what they do best. The small payments is secondary.

[2tights]

danbi's DMD pool - never received a confirmation email. If you'd like me to test on your pool, please unlock my account

Your account is unlocked, but please note except at times when I am hacking the stratum/wallet code, your hashrate is wasted. We do regularly find blocks... and the wallet consistently refuses all of them. I hate to see how many coins we actually found

just unlock the wallet.. psshhhhtt.

[HR]

diff 48 - 3,505.43 MH/s Gröstl networkhashrate  - around 350 MH/s scrypt hashingpower

35 - diff 2390.291173MH/s - around 230  MH/s scrypt hashingpower

Okay, understood. A current diff of 35 with Groestl would be the rough equivalent of a previous 3.5 diff with scrypt. Basically the same 10 : 1 change that we've seen in hashrate terms (although I calculate that my machines have an average increase on the order of 8.94 : 1).

So a current 40 diff is really the same as a 4 from before, giving us (using my 35 guesstimate) an approximate current scrypt network equivalent hashrate of 270 MH/s or an approximate groestl network hashrate of 2.7 GH/s.

As you said, not bad considering that it's all solo mining!!!

More than 3 times the average network hashrate from April 8 to April 21.

A rule of thumb to determine how many DMD you will mine in a day:

15 divided by the averaged diff, multiplied by the MH of your rig.

Ex:  15 / 40 * 80 MH = 30 DMD per day.


EDIT2:  BTW GRS (or any other Groestl-based coin) is the same formulae above, just multiply the result by the reward value (currently at 353 GRS/block).

Very nice. Thanks for that.