Lots of confusion over reactor decisions by cryptonit & team,
Let's clear it up ,
Diamond is not a community coin, it is not decentralized.
You were mislead if you believed that.
Diamond is Cryptonit & Team's Coin, it will be centralized if they decide so.
It is his Way or the Highway, no other options, no voting to make a difference, you just accept their choices or leave.
That Simple.
Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 602. (Read 1260677 times)
January 30, 2015, 05:52:31 AM
January 30, 2015, 05:07:58 AM
I care for DMD, if it was another coin I'd just have sold my stake and went somewhere else.
so u vote yes already
thx for ur support
making a survey on this (or another) forum.
But if you guys don't want to do it I respect the choice, it's just not the way I'd like the coin to work.
But if you guys don't want to do it I respect the choice, it's just not the way I'd like the coin to work.
thx for ur respect to our choice to keep decision process short and agile
to achieve ongoing development and not endless discussions
January 30, 2015, 04:53:48 AM
I don't see what's wrong with just making a survey on this (or another) forum.
I've seen many coins doing that and it worked pretty fine.
And they defined the basics of the coin, not just little modifications.
But if you guys don't want to do it I respect the choice, it's just not the way I'd like the coin to work.
I'm saying that because I care for DMD, if it was another coin I'd just have sold my stake and went somewhere else.
I've seen many coins doing that and it worked pretty fine.
And they defined the basics of the coin, not just little modifications.
But if you guys don't want to do it I respect the choice, it's just not the way I'd like the coin to work.
I'm saying that because I care for DMD, if it was another coin I'd just have sold my stake and went somewhere else.
January 30, 2015, 04:48:11 AM
I still think that such a conceptual move (a single pos privileged address, regardless of how it's used) should be approved by the community before going live.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
How should we fairly deliberate on this or similar moves? One DMD, one vote; One holder, one vote; One cloudminer, one vote, One miner, one vote etc?
While I agree all of the community should have input on the direction of our investments, a strong team needs strong leadership and strong support.
The suggestions and ideas have not been very strong except when major changes have been made by our leadership.
I tend to support them.
I don't want to see any of us alienated by moves within DMD, but how do we with all fairness move forward without leadership? The goals, risks and potential benefits of the change have been clearly stated. There is little risk if you choose not to engage in the changes, and potential reward (at risk of short term sell options on your reactor staked DMD) if you do engage.
I see how it could be perceived as unfair that only people with cloudmining shares have the option of reactor staking, however anyone can purchase cloudmining shares. I would think if you don't have enough belief in DMD leadership to engage in cloudmining, you probably would not put 1500 DMD up on trust for potential reward.
I would love to see many ideas and suggestions for the DMD leadership to pore through for inspiration and community appraisal.
Let's discuss this, but not complain when leadership leads.
Kind Regards
chilo
chilo the voting is easy
if dmd value drops longterm into nirvana
if noone buy dmd cloudmining shares
if noone interested to fill the reactor slots
if mining diff falls close to nothing because noone care about DMD
then we understand ur votes and will handover the coin to a community takeover team
that is able present a clear plan for the future to make it better
as long as this things dont happens
the result of vote is yes community supports dmd diamond foundation
not most postings here on forum count (then i would have ultimate voting power anyway ...
) January 30, 2015, 04:45:12 AM
Meaning that there would not be manual work to do for participating into proofing that You already own cloudminer.
Which is silly cause You know You have it. And You are already being rewarded of owning it by dmd's.
-Sneaking
Which is silly cause You know You have it. And You are already being rewarded of owning it by dmd's.
-Sneaking
explain ur ideas
we are open for reactor v2 ideas
the way v1 lauches we did describe already
but that doesnt say in future if we find way to decentralize it
it cant be upgraded to reactor v2
thats no problem at all because slots have a max age of 40 weeks anyway
so once we start with a replacement of reactor v1 with a reactor v2 it can be a smooth switch
v1 slow time out v2 slow start up
January 30, 2015, 04:44:58 AM
I still think that such a conceptual move (a single pos privileged address, regardless of how it's used) should be approved by the community before going live.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
How should we fairly deliberate on this or similar moves? One DMD, one vote; One holder, one vote; One cloudminer, one vote, One miner, one vote etc?
While I agree all of the community should have input on the direction of our investments, a strong team needs strong leadership and strong support.
The suggestions and ideas have not been very strong except when major changes have been made by our leadership.
I tend to support them.
I don't want to see any of us alienated by moves within DMD, but how do we with all fairness move forward without leadership? The goals, risks and potential benefits of the change have been clearly stated. There is little risk if you choose not to engage in the changes, and potential reward (at risk of short term sell options on your reactor staked DMD) if you do engage.
I see how it could be perceived as unfair that only people with cloudmining shares have the option of reactor staking, however anyone can purchase cloudmining shares. I would think if you don't have enough belief in DMD leadership to engage in cloudmining, you probably would not put 1500 DMD up on trust for potential reward.
I would love to see many ideas and suggestions for the DMD leadership to pore through for inspiration and community appraisal.
Let's discuss this, but not complain when leadership leads.
Kind Regards
chilo
January 30, 2015, 04:39:17 AM
guess who will be blamed.
whatever we do
i know who will be blamed
January 30, 2015, 04:20:02 AM
I still think that such a conceptual move (a single pos privileged address, regardless of how it's used) should be approved by the community before going live.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
The community may like and help improve it. Or it may not like it and help you avoid a wrong move before it's done.
What if crypto blogs start crushing the idea? What if the value goes down a lot after reactor is live? If that happens with the community approval, we'll sink together. If it happens because of a choice of just 2/3 people, guess who will be blamed.
January 30, 2015, 04:18:03 AM
"the future will be B2B and providing a platform for companies to run their projects/business on"
If You are aiming on business or commercial are You planning to automate proof of share system?
Meaning that there would not be manual work to do for participating into proofing that You already own cloudminer.
Which is silly cause You know You have it. And You are already being rewarded of owning it by dmd's.
-Sneaking
If You are aiming on business or commercial are You planning to automate proof of share system?
Meaning that there would not be manual work to do for participating into proofing that You already own cloudminer.
Which is silly cause You know You have it. And You are already being rewarded of owning it by dmd's.
-Sneaking
January 30, 2015, 04:11:50 AM
Quote
and vote by buy mine stake hold dmd and cloudmining shares and reactor slots
u wanted to vote
voting have started......
January 30, 2015, 04:08:43 AM
i can understand that reactor alone is even if a good working mechanic
not show u the path into future of DMD
and its always the same game
if we release something people want to know the next step in big picture
to understand how the parts interact with each other
the future will be B2B and providing a platform for companies to run their projects/business on
as all of u know already our aim is to be a storage of wealth solution
and our plan for the future is that we provide projects aimed to generate profit for its investors a platform to be hosted
and dmd cloudmining + reactor will also be moved towards that platform and hosted there as reference projects
not at launch of reactor and not in the next few months
but it will
we not talking here about a small little project
we talking here about creation of a business and everyone who own DMD will share a part of its success
i know i gave a sneak peak to far into the future and normaly i wouldnt release such infos before the deals with big investors are finalized
but it seems that some people here needed to remember who is working for the coin
and that we dont release some features or stuff because they are funny or we are scam someone
be real people if we try to scam u we by far the worst scamer on whole planet
need 2 years to prepare the scam
release real world details about urself
be urself the biggest investor in ur products.......
nominate us for the worst scam ever
or the innovative business ideas award.....
choose urself what is ur truth
and vote by buy mine stake hold dmd and cloudmining shares and reactor slots
maybe we wrong by try not to compete with all the other fish in the payment solution ecommerce fishtank
but maybe we just explore way better place to position DMD
not show u the path into future of DMD
and its always the same game
if we release something people want to know the next step in big picture
to understand how the parts interact with each other
the future will be B2B and providing a platform for companies to run their projects/business on
as all of u know already our aim is to be a storage of wealth solution
and our plan for the future is that we provide projects aimed to generate profit for its investors a platform to be hosted
and dmd cloudmining + reactor will also be moved towards that platform and hosted there as reference projects
not at launch of reactor and not in the next few months
but it will
we not talking here about a small little project
we talking here about creation of a business and everyone who own DMD will share a part of its success
i know i gave a sneak peak to far into the future and normaly i wouldnt release such infos before the deals with big investors are finalized
but it seems that some people here needed to remember who is working for the coin
and that we dont release some features or stuff because they are funny or we are scam someone
be real people if we try to scam u we by far the worst scamer on whole planet
need 2 years to prepare the scam
release real world details about urself
be urself the biggest investor in ur products.......
nominate us for the worst scam ever
or the innovative business ideas award.....
choose urself what is ur truth
and vote by buy mine stake hold dmd and cloudmining shares and reactor slots
maybe we wrong by try not to compete with all the other fish in the payment solution ecommerce fishtank
but maybe we just explore way better place to position DMD
January 30, 2015, 03:35:44 AM
Just trying to make prove my points as best as I can.
Your money went to Zero-sum game that was combined from that coin You invested in and $au. Someone gained and You lost.
It is like that with mining now days. You are making negative profit and someone that buys Your coin will take that benefit from You.
"Ensuring Diamond Stabilisation Mechanism gets bigger and better."
Limiting volume with any means won't create stability. As I mentioned it allows cost of an attack performed more easily.
Translate: Selling big volumes makes coin value decrease vs. another thing that is used with trading things that We need to live.
Yes I am still mining thou I am loosing fiat money by paying electricity and making negative profit from it. My beliefs to any coin still
won't change global demand to that coin. Hence I may be keeping my miners on for nothing. Just numbers at screen. Nothing more to see.
-Sneaking
Your money went to Zero-sum game that was combined from that coin You invested in and $au. Someone gained and You lost.
It is like that with mining now days. You are making negative profit and someone that buys Your coin will take that benefit from You.
"Ensuring Diamond Stabilisation Mechanism gets bigger and better."
Limiting volume with any means won't create stability. As I mentioned it allows cost of an attack performed more easily.
Translate: Selling big volumes makes coin value decrease vs. another thing that is used with trading things that We need to live.
Yes I am still mining thou I am loosing fiat money by paying electricity and making negative profit from it. My beliefs to any coin still
won't change global demand to that coin. Hence I may be keeping my miners on for nothing. Just numbers at screen. Nothing more to see.
-Sneaking
January 30, 2015, 03:18:51 AM
Some good comments.
Sneaking, it is ok to have some doubts. No one forces you to invest in Cloudmining or enter the reactor. You as a Diamond miner and holder already enjoy the added price support and stability engendered by the cloudmining venture even if you are not a share holder. Of course with all of this is risk: we may never see return on investment in cloudmining, DMD value may tank, reactor wallet may be hacked and stolen. We acknowledge these risks and invest accordingly. The difference is, there are people here willing and active to make DMD a success. This involves risk. If you mine and save your coins, or buy from the markets, you will reap the same benefit as those more heavily involved, just to a differing degree.
I'll give you some background to my entry to crypto currency investment. In my country (Australia), there is a government mandated and regulated superannuation scheme. In May 2007 I had ~110k$au invested in this, unavoidable, 9% of my salary is paid into this. Interest return is 3-10% when the going is good averaged over several years. At the time the Oz stockmarket was around 6900. In January 2009, my Superannuation account was ~50k$au, and the stockmarket around 3300. Today our stockmarket is at 5500, and my super still below the 2007 level. Where did that 60k$ go?
I have not invested anywhere near this lost amount in crypto, and maybe never will. However, I want to hedge my bets over the long term, and I don't think anyone here had anything to do with my lost money. In the next 30-40 years of my working life, I can expect at least 2 global financial crises that will rake away my savings. I want a little beyond their reach, and consider it probable that in the years to come more people will look at this in the same way, increasing the value of all crypto currencies still alive.
This coin has a small but determined and increasing group of supporters and developers who work for long term goals. My guess is, we will be here for the long term.
Good luck with your investments everyone.
chilo
Sneaking, it is ok to have some doubts. No one forces you to invest in Cloudmining or enter the reactor. You as a Diamond miner and holder already enjoy the added price support and stability engendered by the cloudmining venture even if you are not a share holder. Of course with all of this is risk: we may never see return on investment in cloudmining, DMD value may tank, reactor wallet may be hacked and stolen. We acknowledge these risks and invest accordingly. The difference is, there are people here willing and active to make DMD a success. This involves risk. If you mine and save your coins, or buy from the markets, you will reap the same benefit as those more heavily involved, just to a differing degree.
I'll give you some background to my entry to crypto currency investment. In my country (Australia), there is a government mandated and regulated superannuation scheme. In May 2007 I had ~110k$au invested in this, unavoidable, 9% of my salary is paid into this. Interest return is 3-10% when the going is good averaged over several years. At the time the Oz stockmarket was around 6900. In January 2009, my Superannuation account was ~50k$au, and the stockmarket around 3300. Today our stockmarket is at 5500, and my super still below the 2007 level. Where did that 60k$ go?
I have not invested anywhere near this lost amount in crypto, and maybe never will. However, I want to hedge my bets over the long term, and I don't think anyone here had anything to do with my lost money. In the next 30-40 years of my working life, I can expect at least 2 global financial crises that will rake away my savings. I want a little beyond their reach, and consider it probable that in the years to come more people will look at this in the same way, increasing the value of all crypto currencies still alive.
This coin has a small but determined and increasing group of supporters and developers who work for long term goals. My guess is, we will be here for the long term.
Good luck with your investments everyone.
chilo
January 30, 2015, 03:07:13 AM
Reaching any imaginary number and limiting supply is not gonna change anything unless there is change in demand.
More coins in circulation won't change anything. Value comes almost solely from demand.
If there is no demand there is no value. Hence creating more such items is worthless and insane.
Less coins isn't itself gonna change anything either. Unless there is demand.
For example:
You can try to sell moldy bread with 100$. No one buys and You split it and try to sell that half with cheaper prize tag of 25$ No one buys.
"Reaching any imaginary number and limiting supply is not gonna change anything unless there is change in demand."
Lets say: I reach half of my last moldy bread bit then there is gonna be lesser bread cause I got hungry and had to eat its other half.
Still trying to sell that moldy bread half with 25$. And then You suddenly realize something and say it's prize went up back to 50$,
cause there is less moldy bread available. No one buys. You lower The prize and eat some of bread.
You repeat The process until You are selling sand grain sized bit of moldy bread with 0.000000001$. You can repeat that to infinity if You want.
And You ate all of other moldy bread. Good luck selling that grain with no demand.
And demand You can't change by creating more coins or less coins. I know also, limited supply can rise value versus fiat or btc. But coins or fiat doesn't hold any value at all by itself. It is how widely they are accepted as changing material between goods and how widely they are used. Creating demand. We already have infinite amount of coin dividents with any crapcoin everywhere. You can divide 1 coin to infinite digits. And we can all play with digits if there would be demand. Or not.
So You are just saying You want to rise 0.00000001 digit value to 0.0000001 that versus fiat money. Creating profit versus fiat. You have to see You don't have to compare coins that You support to anything and The value comes from itself if it is valuable to You. But then The moldy bread bit may be valuable only to You. Wanting to rise versus fiat money comes only if You are going to get enough people to use and trade vs fiat, as You already know.
-Sneaking
More coins in circulation won't change anything. Value comes almost solely from demand.
If there is no demand there is no value. Hence creating more such items is worthless and insane.
Less coins isn't itself gonna change anything either. Unless there is demand.
For example:
You can try to sell moldy bread with 100$. No one buys and You split it and try to sell that half with cheaper prize tag of 25$ No one buys.
"Reaching any imaginary number and limiting supply is not gonna change anything unless there is change in demand."
Lets say: I reach half of my last moldy bread bit then there is gonna be lesser bread cause I got hungry and had to eat its other half.
Still trying to sell that moldy bread half with 25$. And then You suddenly realize something and say it's prize went up back to 50$,
cause there is less moldy bread available. No one buys. You lower The prize and eat some of bread.
You repeat The process until You are selling sand grain sized bit of moldy bread with 0.000000001$. You can repeat that to infinity if You want.
And You ate all of other moldy bread. Good luck selling that grain with no demand.
And demand You can't change by creating more coins or less coins. I know also, limited supply can rise value versus fiat or btc. But coins or fiat doesn't hold any value at all by itself. It is how widely they are accepted as changing material between goods and how widely they are used. Creating demand. We already have infinite amount of coin dividents with any crapcoin everywhere. You can divide 1 coin to infinite digits. And we can all play with digits if there would be demand. Or not.
So You are just saying You want to rise 0.00000001 digit value to 0.0000001 that versus fiat money. Creating profit versus fiat. You have to see You don't have to compare coins that You support to anything and The value comes from itself if it is valuable to You. But then The moldy bread bit may be valuable only to You. Wanting to rise versus fiat money comes only if You are going to get enough people to use and trade vs fiat, as You already know.
-Sneaking
January 30, 2015, 02:57:30 AM
popshot
coins in the reactor have an POS advantage over conventional coins? Does this mean that I will receive less from the POS having no coins in the reactor?
coins in the reactor have an POS advantage over conventional coins? Does this mean that I will receive less from the POS having no coins in the reactor?
No, you will get 50% annually, just as before.
January 30, 2015, 02:50:48 AM
I think reactor is a very bad idea. It will increase the investment and not the commerce which means it just helps increasing the bubble. Every investor wants a minimal profit therefore they have to sell some amount of dmd. It will destroy the exchange rate. You really want 1-2 winner and everybody to lose?
You have to establish an economy behind dmd.
You have to establish an economy behind dmd.
So you don't think the reactor will strengthen the economy, just as the cloudmining did?
January 30, 2015, 02:41:33 AM
I don't understand why everyone is so narrow-minded. Instead of whining about you're own personal desires you should try to understand the big picture, and that is what is good for DMD long term. And THAT development is something that ALL involved in DMD will benefit from. I suggest you read Popshots post (as seen below) once again and try to read it with an open mind. Hopefully ypu will begin to understand what DMD Foundation is trying to achieve here. The reactor will strengthen both security and stability for DMD. This is a GOOD thing for everyone, and not just that, it is a necessity. This coin is not a pure mining coin anymore as hybrid POW/POS was introduced in june, and if you haven't heard it before we will soon reach 1.000.000 total coins and what will happen then? Yes, the POW reward will decrease so mining won't be that attractive anymore. But you miners have known this all the time right? So what are you complaining about? The reactor as well as the cloudmining has and will create more buy pressure on the market. What does this mean? Yes, more volume and stable price raise. Is this not good?
I am a big investor in the Cloudmining and I did that to help strengthen DMD and hopefully get a good return from my investment in the future. I will gladly invest in the Reactor too as this will help ALL people who owns DMD to get a nice return for their time, effort and money in the coming years. I will do it for everyone and not just myself. I you don't want to do that it's up to you.
This has nothing to do with the reactor. Foundation wallet is incapable of staking, because of countless amounts of 0.05 transactions that the wallet cannot process. Once the coins are sent away in bigger piles the problem disappears.
Anyway..
I think quite a few people are missing the point here.
The Reactor is not just about producing more coins, however, necessity for more coins was good opportunity to come up with something that would benefit overall Diamond performance.
Let me again present the aims of this project (and BTW I have plenty of questions to you):
• Making sure we stick to original coin rollout plan by putting more coins into circulation.
- Anyone objects that? More coins would mean bigger inflation, but it was meant to be bigger in the first place, so what's the problem? More coins would also mean more liquidity and possibly better distribution.
• Ensuring Diamond Stabilisation Mechanism gets bigger and better.
- Anyone objects that? Don’t we want to ever rise the price floor of Diamond? So ‘the little miner’ can conveniently dump his coins and get return for his struggle, without worrying what the price will be next week? Beside, it’s not the only purpose of Stabilisation Mechanism to do that, but rather prove the coin can retain its value over prolonged periods of time – it’s supposed to be a deposit coin in the first place.
I hate to use it but iCBREAKER illustrated it pretty well how things looked before the Cloud Mining started:
https://i.imgur.com/KxtREQE.png
Could you compare it with today’s stats? http://coinmarketcap.com/currencies/diamond/ (180 day view).
These things didn’t just magically happen.
It was all possible thanks to Helmut’s hard work and commitment to deliver and run the service and of course everyone who bought into the cloud.
• Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
- Anyone objects that? Don’t we want people to perceive Diamond as a good product with functioning and effective ecosystem? Don’t we want to attract more people by providing such options?
• Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
- Anyone objects that? Rewarding those who actually make the whole Stabilisation Thing a reality? How is that unfair? Miners get their mining rewards and benefit from stable price thanks to those who invested BTCs into the cloud.. Minters mint and get their rewards for securing the network. How about making the system to be grateful to those who actually perpetuate with surplus result one of the cornerstones of stability.
• Securing the network with massive staking power, making any PoS attacks very costly.
- Mining is coming to an end, alright? Soon 1/10th of a reward is not going to attract any significant number of miners, even “the little ones”, so we can forget about PoW security. The coin will rely heavily on PoS, and not sure many of you are aware of effective PoS attack that affects all existing PoS coins [NXT not yet confirmed]. Where only 5% of coins is enough to take the project down. Keeping 10% of total coins in constant stake for sure would help to mitigate it, don’t you think?
Some people’s reaction is as if we did this:
http://www.theguardian.com/world/2015/jan/29/north-korea-may-be-restarting-reactor-which-produces-nuclear-bomb-fuel
Coincidence? Yes it is .. we are not affiliated in any way with the Democratic People's Republic of Korea.
I get an impression that you think, we were going to cheat you and personally gain on this.
To be honest I don’t care for more coins and I’m sure Helmut doesn't care either, I have enough of them already, what I want is to move this project forward.
If it was only about some short term gains we wouldn’t spend countless hours on this and be just like the rest of people riding waves.
This Reactor project is not the only thing we’ve been doing all that time, but we do split work. I’ve seen the question about the access to Reactor, no I don’t have access to it and won’t have it, for security reasons.
But you can help me in other ways.. If you have loads of cash and want to invest in a good crypto project, please send me PM, it will save me a lot of work finding external investors to properly fund development and take us out of the 100th place to the much higher one. If not then sorry but this is what we came up with with our limited resources.
Of course thank you for your thoughts about better PoS rewards models, but would be much better if you could actually address all these points and not just one:
• Making sure we stick to original coin rollout plan by putting more coins into circulation.
• Ensuring Diamond Stabilisation Mechanism gets bigger and better.
• Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
• Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
• Securing the network with massive staking power, making any PoS attacks very costly.
I am a big investor in the Cloudmining and I did that to help strengthen DMD and hopefully get a good return from my investment in the future. I will gladly invest in the Reactor too as this will help ALL people who owns DMD to get a nice return for their time, effort and money in the coming years. I will do it for everyone and not just myself. I you don't want to do that it's up to you.
Quote
but in the reactor will be DMD foundation coins which, according to previous statement from Popshot, not have been able to POS before because foundation wallet is not staking,
This has nothing to do with the reactor. Foundation wallet is incapable of staking, because of countless amounts of 0.05 transactions that the wallet cannot process. Once the coins are sent away in bigger piles the problem disappears.
Anyway..
I think quite a few people are missing the point here.
The Reactor is not just about producing more coins, however, necessity for more coins was good opportunity to come up with something that would benefit overall Diamond performance.
Let me again present the aims of this project (and BTW I have plenty of questions to you):
• Making sure we stick to original coin rollout plan by putting more coins into circulation.
- Anyone objects that? More coins would mean bigger inflation, but it was meant to be bigger in the first place, so what's the problem? More coins would also mean more liquidity and possibly better distribution.
• Ensuring Diamond Stabilisation Mechanism gets bigger and better.
- Anyone objects that? Don’t we want to ever rise the price floor of Diamond? So ‘the little miner’ can conveniently dump his coins and get return for his struggle, without worrying what the price will be next week? Beside, it’s not the only purpose of Stabilisation Mechanism to do that, but rather prove the coin can retain its value over prolonged periods of time – it’s supposed to be a deposit coin in the first place.
I hate to use it but iCBREAKER illustrated it pretty well how things looked before the Cloud Mining started:
https://i.imgur.com/KxtREQE.png
Could you compare it with today’s stats? http://coinmarketcap.com/currencies/diamond/ (180 day view).
These things didn’t just magically happen.
It was all possible thanks to Helmut’s hard work and commitment to deliver and run the service and of course everyone who bought into the cloud.
• Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
- Anyone objects that? Don’t we want people to perceive Diamond as a good product with functioning and effective ecosystem? Don’t we want to attract more people by providing such options?
• Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
- Anyone objects that? Rewarding those who actually make the whole Stabilisation Thing a reality? How is that unfair? Miners get their mining rewards and benefit from stable price thanks to those who invested BTCs into the cloud.. Minters mint and get their rewards for securing the network. How about making the system to be grateful to those who actually perpetuate with surplus result one of the cornerstones of stability.
• Securing the network with massive staking power, making any PoS attacks very costly.
- Mining is coming to an end, alright? Soon 1/10th of a reward is not going to attract any significant number of miners, even “the little ones”, so we can forget about PoW security. The coin will rely heavily on PoS, and not sure many of you are aware of effective PoS attack that affects all existing PoS coins [NXT not yet confirmed]. Where only 5% of coins is enough to take the project down. Keeping 10% of total coins in constant stake for sure would help to mitigate it, don’t you think?
Some people’s reaction is as if we did this:
http://www.theguardian.com/world/2015/jan/29/north-korea-may-be-restarting-reactor-which-produces-nuclear-bomb-fuel
Coincidence? Yes it is .. we are not affiliated in any way with the Democratic People's Republic of Korea.
I get an impression that you think, we were going to cheat you and personally gain on this.
To be honest I don’t care for more coins and I’m sure Helmut doesn't care either, I have enough of them already, what I want is to move this project forward.
If it was only about some short term gains we wouldn’t spend countless hours on this and be just like the rest of people riding waves.
This Reactor project is not the only thing we’ve been doing all that time, but we do split work. I’ve seen the question about the access to Reactor, no I don’t have access to it and won’t have it, for security reasons.
But you can help me in other ways.. If you have loads of cash and want to invest in a good crypto project, please send me PM, it will save me a lot of work finding external investors to properly fund development and take us out of the 100th place to the much higher one. If not then sorry but this is what we came up with with our limited resources.
Of course thank you for your thoughts about better PoS rewards models, but would be much better if you could actually address all these points and not just one:
• Making sure we stick to original coin rollout plan by putting more coins into circulation.
• Ensuring Diamond Stabilisation Mechanism gets bigger and better.
• Increasing the unique strength of DMD's POS² (Proof of Stake+ Proof of Shares).
• Providing fantastic ROI opportunity to those who are committed the most to long term success of Diamond.
• Securing the network with massive staking power, making any PoS attacks very costly.
January 30, 2015, 01:44:48 AM
My thought:
What happens by sacrificing trading volume to engine thing? Some people value volume differently.
Diamond coin miners, ppl with low savings and businesses usually value trading volume heavily.
Others, savers don't value trading volume at all.
Fex. (I could not care if I lost the ability to spend my dmd's for long duration cause I am holder)
Businesses usually need to get coins sold quickly cause You can't wait weeks for
someone to buy or sell coins. They value fiat money and are not investors.
And miners usually mine for quick profit and sell quickly.
Low volume = low trading = low buying -> longer time to sell or very hard to get sold at all.
Hence there is a leverage effect that allows the cost of an attack to be high. And it is
already very high cause of very low trading volume. And You want to make it even lower with
holding coins at engine?
How much does decentralization mean to community? How much You are willing to keep it that way?
What is The goal of centralizing diamonds to engine? Is it only for profit for those who choose it?
Other solutions to "Proof of Something" algos have been proposed way back and there is nothing different
at proof of work, proof of stake, proof of shares combined as a idea. But in my opinion all these systems have
many of The same properties, and are thus proof of shares is best to implement indirectly. You are already getting
reward from owning Your miner at cloud. There is no value to community to reward again those who own shares.
So why would it benefit community with rewarding again those shareholders?
Does decentralization come with a high price tag to diamondcoin? Is it only POS algorithm that is
assumed to work certain way and why would it hurt community if We loose some POS stake coins
and does it matter globally anyway? If We have viable POS algo, then do We have more options?
What if community does not see decentralization as a goal in itself?
Are We blind? We already have a system which is both decentralized and cost-free.
If You are willing to go extra mile You are imo. better to go and purchase dmd's directly from market.
Feel free to comment.
-Sneaking
What happens by sacrificing trading volume to engine thing? Some people value volume differently.
Diamond coin miners, ppl with low savings and businesses usually value trading volume heavily.
Others, savers don't value trading volume at all.
Fex. (I could not care if I lost the ability to spend my dmd's for long duration cause I am holder)
Businesses usually need to get coins sold quickly cause You can't wait weeks for
someone to buy or sell coins. They value fiat money and are not investors.
And miners usually mine for quick profit and sell quickly.
Low volume = low trading = low buying -> longer time to sell or very hard to get sold at all.
Hence there is a leverage effect that allows the cost of an attack to be high. And it is
already very high cause of very low trading volume. And You want to make it even lower with
holding coins at engine?
How much does decentralization mean to community? How much You are willing to keep it that way?
What is The goal of centralizing diamonds to engine? Is it only for profit for those who choose it?
Other solutions to "Proof of Something" algos have been proposed way back and there is nothing different
at proof of work, proof of stake, proof of shares combined as a idea. But in my opinion all these systems have
many of The same properties, and are thus proof of shares is best to implement indirectly. You are already getting
reward from owning Your miner at cloud. There is no value to community to reward again those who own shares.
So why would it benefit community with rewarding again those shareholders?
Does decentralization come with a high price tag to diamondcoin? Is it only POS algorithm that is
assumed to work certain way and why would it hurt community if We loose some POS stake coins
and does it matter globally anyway? If We have viable POS algo, then do We have more options?
What if community does not see decentralization as a goal in itself?
Are We blind? We already have a system which is both decentralized and cost-free.
If You are willing to go extra mile You are imo. better to go and purchase dmd's directly from market.
Feel free to comment.
-Sneaking
January 30, 2015, 01:41:13 AM
This whole 'reactor' stinks of scam to me.
Show me a single other coin that makes a very significant wallet code change that benefits just 1 person running a 'cloud mining' operation
This is a very dark day for DMD coin, shameless profiteering for the benefit of the few.
Was the wallet coder paid by 'cloud mining' to make this change that benefits only them ?
What if 'cloud mining' gets 'hacked' like MtGox, after all investors ZERO security. Nothing stopping him selling the lot and blaming a hack is there ?
I hope it doesnt happen but I suspect this is the beginning of the end of DMD. When the so called foundation starts pandering to the whims and need of a single person over the community without the community even being asked it shows a fundamental lack of respect and honesty. Both of which are seen by investors as a scam.
What do you all think would happen if Bitcoin Foundation suddenly announced that Mark Karpeles had been given a special wallet that mined coins 4x faster than everyone else as it was 'needed'.
I'm sorry Helmut you've done your credibility no good at all with this and I hope its dropped.
Show me a single other coin that makes a very significant wallet code change that benefits just 1 person running a 'cloud mining' operation
This is a very dark day for DMD coin, shameless profiteering for the benefit of the few.
Was the wallet coder paid by 'cloud mining' to make this change that benefits only them ?
What if 'cloud mining' gets 'hacked' like MtGox, after all investors ZERO security. Nothing stopping him selling the lot and blaming a hack is there ?
I hope it doesnt happen but I suspect this is the beginning of the end of DMD. When the so called foundation starts pandering to the whims and need of a single person over the community without the community even being asked it shows a fundamental lack of respect and honesty. Both of which are seen by investors as a scam.
What do you all think would happen if Bitcoin Foundation suddenly announced that Mark Karpeles had been given a special wallet that mined coins 4x faster than everyone else as it was 'needed'.
I'm sorry Helmut you've done your credibility no good at all with this and I hope its dropped.
January 29, 2015, 10:56:36 PM
Would it be possible to automate that proof of stake, proof of share slot sending thing so that there wouldn't be human work involved? Also how did devs think about variable pos multiplier thingy?
-Sneaking
-Sneaking
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