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

[hallared]

who will get more coins in 1 year.

user 1 wallet open 24x7x365

or

user 2 wallet open 1 hour each month total 12 hours.

Very good question that I have never seen a clear answer for anywhere.

Two wallets with 100 DMD, one open 24x7x365, and the other 1 hour each month, what are the minting returns for each at the end of one year?

yes i need to know this, does compounding effect the outcome. I'm guessing it does. And if it does the sooner minting happens the better hence my earlier question regarding number of pc's (or GPU) to power it.

User 1 will get a bit more coins than User 2, but User 1 will of course use more electricity.

Just as an example we assume that both User 1 and User 2 has 100 DMD in his/her wallet. User 1 will be able to PoS as soon as his/her coins reach mature PoS age of 1 week, and User 2 will PoS once every month. There will then be 52 PoS transactions for User 1 and 12 PoS transactions for User 2. The interest per transaction will be 50%/52 weeks=0,9615% for User 1, and 50%/12 months=4,1667% for User 2.

Using this formula you can calculate each Users amounts after 1 year.

User 1: 100*(100%+(50%/52))^52 = 164,48 DMD
User 2: 100*(100%+(50%/12))^12 = 163,21 DMD

As you can see the difference is rather small, only 1,27 with 100 DMD. In this example we assume that PoS will occur every week and every month for the Users and that the total amount in each Users wallet will PoS every time. But in reality PoS depends on luck, difficulty, and other factors so the above calculation is theoretical.

[cryptonit]

hallared made good analysiz

just if u have 100 dmd age 7 days and wallet open in mining mode its still not sure u will be able mint them before they get older

it all depends on whole network minting behavior

if people mint big coin pile once a month in the time beween small coin pile will find easy a minting slot

if lot people run their wallet 24/7 in minting mode it need some time/luck until a smallcoin pile will be able to mint (or some more coin age then even small pile increase coin weight)

so 24/7  is in my oppinion good for big dmd shareholder (1% or more of total coins) to protect network

and once or twice a month for small shareholder below 1000 total dmd

and for all people beween being big or small i guess its just ur flavor that decide

any 24/7 wallet is beside minting blocks also supporting network by relay data between wallets
so they always welcome even empty without coins

ideal to support network is a static ip and listen=1 in conf

[popshot]

who will get more coins in 1 year.

user 1 wallet open 24x7x365

or

user 2 wallet open 1 hour each month total 12 hours.

Very good question that I have never seen a clear answer for anywhere.

Two wallets with 100 DMD, one open 24x7x365, and the other 1 hour each month, what are the minting returns for each at the end of one year?

Base: 1000 DMD

Once a year:  1,500.00 DMD
Once a month: 1,632.09 DMD
Once a week:  1,644.79 DMD

As you can see the returns are just slightly higher, but please note that you as a participant are securing the whole network, meaning you secure your own investment.
In each society there are always people who off load responsibility on the others thinking that someone will take care of the things. It doesn't work well in crypto and open source projects. This could lead to situation that network becomes very vulnerable - at the moment the attackers can obtain majority in PoW hashing. However, they are not able to obtain majority in PoS - but it's not impossible. The more legitimate users stake, the more often they do it, the better for all of us as the difficulty will be preventing attackers from executing 51%.

Minting does not cost anything / comparing to mining and anyone can have their wallet open in the background.

So for the sake of us all we should participate in PoS minting as much as we can.

[tanakan]

I don't think you get more DMD with 24/7 Pos. The problem is: Each pile of coins will be split into twins child each time minted. Ex: 1000 DMD will be split to 2 twins pile with 507.794 DMD each pile. As I read from http://bit.diamonds/community/index.php/topic,46.msg376.html#msg376
a wallet balance 1000 DMD have 1 pile will be Pos as below table:

http://i1295.photobucket.com/albums/b632/nguyen3cmjsc/Untitled-1_zps1326bf0a.gif

After few months, there will be alot of piles with very little amount DMD in your wallet. When pile have little balance,  Pos will take very long time. I have a pile with 1.68 DMD in wallet received from 08/06/2014. It's not POs until to day (09/20/2014) although my wallet is opened for minting 24/7.
@Cryptonit, can you explain clear about it?

I have some private server. I ran DMD wallet (with initial automatic address) 24/7. It help to speed up and secure DMD network.

[utahjohn]

Please explain how to set up single change address and get rid of large number of change addresses.
Also I would be nice to have an easy way to consolidate small piles into single coin piles within wallet (without having to dump all addresses and priv keys and re-import them ... ugh ... ugly sloppy way to do it lol).
Something like a "defragwallet" command to do this automatically

[danbi]

I don't think you get more DMD with 24/7 Pos. The problem is: Each pile of coins will be split into twins child each time minted. Ex: 1000 DMD will be split to 2 twins pile with 507.794 DMD each pile. As I read from http://bit.diamonds/community/index.php/topic,46.msg376.html#msg376
a wallet balance 1000 DMD have 1 pile will be Pos as below table:



After few months, there will be alot of piles with very little amount DMD in your wallet. When pile have little balance,  Pos will take very long time. I have a pile with 1.68 DMD in wallet received from 08/06/2014. It's not POs until to day (09/20/2014) although my wallet is opened for minting 24/7.
@Cryptonit, can you explain clear about it?

I have some private server. I ran DMD wallet (with initial automatic address) 24/7. It help to speed up and secure DMD network.

This is how PoS works with most coins, because they have it misconfigured.

With Diamond, we made sure small piles are periodically grouped into 100 DMD piles. This resolves the 'dust' problem. We are working on improving the performance in cases with tens of thousands piles.

The answer to this 'will I get more return if I PoS more frequently' is very simple. It's well understood in banking as 'compound interest'.

[tanakan]

@Danby
Nice to hearing you are working on this. 

[stoody]

hi team, i read this thread every day... however i cant seem to find in the 168 pages, where it said how to clean up ur wallet... also there a a few things i would like to know where to find them... like where do u see coin-age and coin pile... and is there a command list for the console tab in the wallet so i know what to type... thanks dev team....
                                                                     mugwarh

[chris_dmd]

hi team, i read this thread every day... however i cant seem to find in the 168 pages, where it said how to clean up ur wallet... also there a a few things i would like to know where to find them... like where do u see coin-age and coin pile... and is there a command list for the console tab in the wallet so i know what to type... thanks dev team....
                                                                     mugwarh

Open Wallet Help menu, click debug window then select console tab and type help to see list of commands.

[cryptonit]

@Danby
Nice to hearing you are working on this. 

we not working on this we implemented it already......
another achievement that most people didn't even detect
but which clear strength DMD Diamond position of best POS coin on market

[stoody]

hi team, i read this thread every day... however i cant seem to find in the 168 pages, where it said how to clean up ur wallet... also there a a few things i would like to know where to find them... like where do u see coin-age and coin pile... and is there a command list for the console tab in the wallet so i know what to type... thanks dev team....
                                                                     mugwarh

Open Wallet Help menu, click debug window then select console tab and type help to see list of commands.

thanks mate for the answer

[cryptonit]

hi team, i read this thread every day... however i cant seem to find in the 168 pages, where it said how to clean up ur wallet... also there a a few things i would like to know where to find them... like where do u see coin-age and coin pile... and is there a command list for the console tab in the wallet so i know what to type... thanks dev team....
                                                                     mugwarh

u mean coin-control
u activate it under display option
then u can see in send coins tab a select input button
thats coin cointrol
there u can see all ur address your coin pile and how old they are

its not required to do any "clean up" diamond code should handle coin grouping by itself
so if u not 100% sure what u do dont do it
worst case u can destroy a lot coin age by moving coins around u kill all their coin-age

i myself managed killing like 500DMD worth of coin.age by wrong use coin control
yelling at danbi "thats bugged" got me the answer thats how it works like in any other coin with coin-control
its for now just a advanced tool without any security net that tell ya u sure u wana destroy xy coin-age by moving coins around

yes we have coin-control (the same code as all other coins with coin-control)
yes we not happy with its basic functionality
but we leave it as advanced user function turned off by default
a improved coin-control is on our todo list

the positive point is other coins force u to soirt ur coins or u end in endless coin pile spolit each time they mint
Diamond code fixed this and its no issue for u

small coin pile older than 30 days will merge together at minting process (up to 100DMD pile size)
and this way counter the endless halving of coin piles

when the is low POS difficulty even small coin pile might successful mint before 30 days age
the they get split again

which is in this case good

its a auto-adjusting system that make sure always enough coin piles existing in network so every possible POS slot will be claimed
but not split coin pile above that leading to endless halfing of coin pile

[stoody]

hi team, i read this thread every day... however i cant seem to find in the 168 pages, where it said how to clean up ur wallet... also there a a few things i would like to know where to find them... like where do u see coin-age and coin pile... and is there a command list for the console tab in the wallet so i know what to type... thanks dev team....
                                                                     mugwarh

u mean coin-control
u activate it under display option
then u can see in send coins tab a select input button
thats coin cointrol
there u can see all ur address your coin pile and how old they are

its not required to do any "clean up" diamond code should handle coin grouping by itself
so if u not 100% sure what u do dont do it
worst case u can destroy a lot coin age by moving coins around u kill all their coin-age

i myself managed killing like 500DMD worth of coin.age by wrong use coin control
yelling at danbi "thats bugged" got me the answer thats how it works like in any other coin with coin-control
its for now just a advanced tool without any security net that tell ya u sure u wana destroy xy coin-age by moving coins around

yes we have coin-control (the same code as all other coins with coin-control)
yes we not happy with its basic functionality
but we leave it as advanced user function turned off by default
a improved coin-control is on our todo list

the positive point is other coins force u to soirt ur coins or u end in endless coin pile spolit each time they mint
Diamond code fixed this and its no issue for u

small coin pile older than 30 days will merge together at minting process (up to 100DMD pile size)
and this way counter the endless halving of coin piles

when the is low POS difficulty even small coin pile might successful mint before 30 days age
the they get split again

which is in this case good

its a auto-adjusting system that make sure always enough coin piles existing in network so every possible POS slot will be claimed
but not split coin pile above that leading to endless halfing of coin pile

thanks very much cryptonit .... i found my way there.... yep its in the "i dont know so dont touch" category... thanks for ur time anyway

[danbi]

The new change address functionality.

Diamond v2.0.4 brings new functionality to reduce wallet bloat. I will repeat the premise and reasons here with introduction to the interface.

The Bitcoin protocol is designed in such a way, that when you send coins, you almost always end up with some 'change'. This happens, because the protocol operates on 'amounts' (that you either generated, received or were result of such 'change' operation). The amounts, unlike fiat currencies are not in set number of denominations. Instead, each Bitcoin 'amount' is an number of "satoshi" represented as a number with many decimal places. When you send some amount to someone, a subset of your existing coins is picked up (either automatically, using rather primitive algorithm, or manually via coin control). The total sum of this amount being X is chosen to be larger than the amount you wish to send plus any fees. When you send the amount Y, the remainder, which is Z = X - Y is sent to a new address, which is specifically created for the purpose to hold your 'new change'. The idea here is to assure you of anonymity for your cash flow, because nobody could know which is the sent amount and which is the change. Which in essence 'sits' in your own wallet, because you now have new keys to claim it.
The Bitcoin wallet assumption and claims of privacy are however not always true, as (because of the way amounts in the wallet are chosen) it is often trivial to track whose the change is. From now on, we will talk about Diamond, but please bear in mind this is fundamental protocol principle inherited from Bitcoin and present in virtually all crypto coins.

In summary, imagine you have received an amount of 500 DMD. You believe you have just one Diamond address in your wallet (where you received that amount). This might be the case until that moment. But, one day you decide to send someone 10 DMD. The protocol has no way to subtract from the amount you have. Instead, it needs to destroy the old amount and create two new amounts. Actually three: the amount you wish to send, 10 DMD, the fee, usually 0.001 DMD and the remainder, the change 489.009 DMD. While performing the send operation, your wallet creates a new Diamond address and sends the change there. Now, you have two new addresses in your Diamond wallet (it has grown with the required records). With every send you do, this is repeated. Now, the Diamond wallet makes things convenient for you, and hides these 'change' addresses. You might have thousands of them, and not be aware. As a result, your wallet is working slower and slower -- this includes everything, from opening it to sending to PoS.

Coin control we implemented some time ago lets you select the change address. But this only works in the GUI and is not very convenient. It is also completely useless for pools and exchanges that are the primary victims of wallet bloat. This is why this new functionality was necessary.

The new functionality provides two interfaces:

1. A command line option, -changeaddress which is also available in the configuration file as changeaddress= that lets  you give the Diamond address you want the change to go to. This can be an address in the same wallet, or elsewhere. You specify this option/parameter at start up time.

2. A pair of getchangeaddress/setchangeaddress RPC commands that let you programmatically control the change address and also clear it. The commands are as follows:

getchangeaddress

returns the current change address, or nothing if there is no address set.

setchangeaddress DiamondAddress

sets the change address, or if the address is given as '' clears it. You can also clear an change address that was set via the command line of configuration file.

Having an change address set up for the wallet makes the change in any future send transaction go to that specific address. No new addresses are created in the wallet and there is no more bloat.

Unfortunately, this functionality does not 'clean' your existing bloat. We are working on that, but not yet done.

[pallas]

thanks danbi.
a couple questions:
do you suggest to set a change address even for wallets which don't make a lot of send transactions?
are the minting transactions creating such additional hidden change addresses as well?

[cryptonit]

seems x13 is best payout at nicehash for the moment to maximize ur DMD Multipool earnings
if ya mining x11 there maybe give it a try (most x11 mining solutions should be able mine x13 too)

http://multipool.bit.diamonds/

[danbi]

thanks danbi.
a couple questions:
do you suggest to set a change address even for wallets which don't make a lot of send transactions?
are the minting transactions creating such additional hidden change addresses as well?

The PoS does not create additional addresses, nor does it create any change. PoS is sending the coins together with the interest back to the same address that had them. This is why PoS can only group coins from the same address in one pile (up to 100 DMD).

The wallet still has 'transaction bloat' in that it grows in size. But these transactions are not traversed each time the wallet needs to decide on coins, as happens with addresses, so it does not slow down the operation.

In general, it does not hurt to set the change address to your wallet's 'main' address, or even to an address in another wallet that you may have. What you 'lose' is the 'anonymity' of your transactions, which as I explained is a bit overstated anyway (except if you do not take special precautions, but then you know what you are doing). If you ever want to send some coins from your wallet, you won't by accident create new addresses.

You can examine what and how many addresses you have in your wallet with the 'listaddressgroupings' RPC/console command. You were not aware you had that many addresses, right?

[cryptonit]

feedback i wana share:

The progression of the project with test round and feedback sounds good.
The payout intervals seems to be well thought out. We understand that this project will
create more buy pressure and in the long run will be good for the coin, that’s why we wanted to invest.
It’s not every day we send money to a, well, almost total stranger :-). But trust and positive feelings about the coin
and the Dev Team have grown stronger over time. There has been forks, wallet sync problems, price drops,
but also new stable wallet versions, cleaner blockchain, PoS function, coin control and so on.
All this has resulted in an unusual feeling of trust and devotion for The Coin, Diamond.

We have learned during this time that you and the rest of the Dev Team have dedicated
a lot of time and effort to make everything work. You always try to do your best.
 
We are happy to be a part of the Cloud mining project.
We have been involved in other coins but there are no coin like Diamond.

I can just say thx and please excuse i share your words
there is just no better promotion than someone who speak his true opinion!
This is what drive our engine and let motivation never end to make @dmdcoin  a successstory
https://twitter.com/CryptonitDMD/status/514160878875574272

and yes he is talking about:

The DMD CLoudmining Contract Template
https://drive.google.com/file/d/0B6UmEKwEC_6aTC15SDhIM0JFVmc/edit?usp=sharing
just in case u think this is not serious business i do it with my real name and we have a contract if u invest.

This is the last week to join in and still earn september full reinvest bonus!
cloud@bit.diamonds

[jerbeast]

Does the new wallet reset coin age?  I updated from 2.0.3.1 and was actively staking (weight 7796) when I shut down the wallet.  When I brought up 2.0.4 just a minute later, my balance shows 0, with the entire balance is in the stake column, but the wallet says I am not staking because I do not have mature coins.  Since the balance is 0, with all of the coins listed under Stake, I can't do anything with the coins, either.

[popshot]

Today, we have discovered that some nodes were submitting blocks that were coming from mining. Such situation shouldn't have been possible. After doing some research, we found out that Windows Diamond Wallet binary that had been published was a release candidate and not the final version. We urge you to re-download the Windows wallet, especially those people who for some reason mine; all your blocks are being rejected, you are wasting electricity and making the network unstable. This will effectively make you clients banned and could move you to the wrong fork.

By downloading the correct wallet, the wallet will repair itself and drop all wrong blocks - which ultimately would spare you redonwloading the blockchain.

This concerns only Windows (binary) users - Mac Wallet and the source are the correct versions.

We apologise for this situation; we must have been very tired already that evening after spending a few days assembling this emergency update. When people are tired all kinds of silly mistakes can happen. From now on we will be double checking the files we upload with the use of MD5.
  

Windows wallet:
http://diamond.danbo.bg/downloads/diamond-qt-2.0.4.exe
or
http://sourceforge.net/projects/diamonddmd/files/diamond-qt-2.0.4.exe/download

Latest clean block chain (not necessary but some might find it helpful):
http://diamond.danbo.bg/downloads/dmdchain20140923-clean.zip
or
http://diamond.danbo.bg/downloads/dmdchain20140923-clean.7z