[ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 605.

cryptonit

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Quote from: vegasguy on January 28, 2015, 09:34:51 PM

So clearly the wallet is online, and not in cold storage. What if the wallet gets hacked and emptied? It can and does happen daily in crypto. Who is responsible for stolen dmd?

Vegas

the wallet run on a maschine that does nothing else there are no port open towards network beside the DMD Network port
a statefull inspection firewall will addtional protect that port

the ip address of the server will be masked

u cant hack remote what u cant locate via IP
u cant hack physical when u dont know the physical location of the server

it will not run on alex laptop where he play solitaire at his lunch breaks
and he doesnt lock the screen when he walk away for some minutes....

regarding responsible if coins lost its clear the same risc as when u are minting at home in ur own wallet
its the risc of the coin owner

in case u think u can mint at home more secure than with diamond reactor
then u should prefer this solution or split risc and only use some and not all of ur coins in reactor if u qualified for slots

mitache365

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Difficulty 24h: 203.233
hmm.. why ?

cryptonit

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bit.diamonds | uNiq.diamonds

cryptonit

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bit.diamonds | uNiq.diamonds

i expect that same questions that i answered already will come again and again in this thread

please people who did grasp the idea already
and remember my former answers please help me answer questions posted here

thx for all helping hands in advance

cryptonit

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Quote from: pallas on January 29, 2015, 04:25:27 AM

Quote from: cryptonit on January 29, 2015, 04:19:59 AM

Quote from: pallas on January 29, 2015, 04:16:56 AM

You really need to hurry the new wallet or pos on the reactor address will be orphaned.
Until most nodes have upgraded, and it might take weeks, the 200% pos blocks will be rejected.

reactor dont will run minting active before new wallet is released
all coin age gathered in reactor will be converted into full 4x POS rewards

yes but the reactor will not be able to mint when the new wallet is released, but some weeks after that, because the network will need to upgrade...
that's what I was saying.

the wallet will be a mandatory upgrade we might change other stuff too example POS blocktime
that require anyone to upgrade his wallet asap

i dont see here a few weeks until people upgraded
a few days sounds more realistic

biggest uncertain part is cryptsy Wink

we did learn in the past they not exactly the fastest in upgrading wallets.....

cryptonit

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https://chainz.cryptoid.info/dmd/#!rich

reactor now easy visible tagged in blockexplorer

pallas

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Black Belt Developer

Quote from: cryptonit on January 29, 2015, 04:19:59 AM

Quote from: pallas on January 29, 2015, 04:16:56 AM

You really need to hurry the new wallet or pos on the reactor address will be orphaned.
Until most nodes have upgraded, and it might take weeks, the 200% pos blocks will be rejected.

reactor dont will run minting active before new wallet is released
all coin age gathered in reactor will be converted into full 4x POS rewards

yes but the reactor will not be able to mint when the new wallet is released, but some weeks after that, because the network will need to upgrade...
that's what I was saying.

cryptonit

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bit.diamonds | uNiq.diamonds

Quote from: pallas on January 29, 2015, 04:16:56 AM

You really need to hurry the new wallet or pos on the reactor address will be orphaned.
Until most nodes have upgraded, and it might take weeks, the 200% pos blocks will be rejected.

reactor dont will run minting active before new wallet is released
all coin age gathered in reactor will be converted into full 4x POS rewards

pallas

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Activity: 2716

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Black Belt Developer

You really need to hurry the new wallet or pos on the reactor address will be orphaned.
Until most nodes have upgraded, and it might take weeks, the 200% pos blocks will be rejected.

cryptonit

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bit.diamonds | uNiq.diamonds

i think what most people dont see is that we try design it as fair as possible
and give small dmd cloudmining same amount of slots as big investors who hold a few thousend shares

we dont follow the make rich even richer scheme
we aim to give normal people a chance to become rich

but we wont force u to accept the chance Cool

if get ur hands on 100 dmd cloudmining shares (100$) and 1500 DMD (around 1 BTC at actual marketprices so)

so below 500$ is out of scope as a new investor
then u have more urgent things to care about than crypto business

and most of existing investors have all the required parts (shares and coins) already

and one more thing: we talking here about a chance and that we the whole DMD team is working hard to make it happen
but we cant gurantee success so only go for it if u accept the involved risc

cryptonit

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Quote from: mitache365 on January 29, 2015, 03:24:28 AM

I dont like the idea any address to stake with 200% or 4x than mine. sounds like inflation.

as explained there is a calculated coin rolloutplan for DMD for the next 30 years
and the real network coin rollout produce less coins so by fill this rollout gap
we full stick with original coinrollout plan

Quote

VISUALIZATION OF DIAMOND ROLL-OUT PLAN
(TOTAL COINS AND POW/POS COINS PER MONTH)

RED LINE = new coins each month produced by POW (numbers on right side)
GREEN LINE = new coins produced each month by POS (numbers on right side)
TOTAL COINS (numbers on left side)
numbers on bottom of graphic are the months (the graphic represent a 30 year timeline)

keep a closer eye on coin specs and check how coin roll-out will develop over next 30 years

beginning with total coins 450000 a 50% POS will be simultaneous active with the 1 DMD POW reward each block
and start the diamond rush (BLUE CIRCLE) on pic

if u analyze that u can see that this POW mining paradise only last a few months
(to be exact until 1 million total diamond are existing)
later most of coins are produced by POS (GREEN ARROW) and to do so u need to have diamonds

everyone who sell 1 diamonds instant lose like at least 2 diamonds.....
because every diamond u mine now would at least double if u keep holding and pos it over time

the whole design of diamond is to be a wealth storage coin aimed to be a good investment

i hope this visualization of coin specs long-term effect of on coin roll-out
can help u realize how valuable diamonds will be once POW is reduced by 90%
and high POS will be main source of coin creation

that coins are required to create more coins (POS)
will be the reason for lower availability of coins on exchanges and increasing prices
remember only coins in ur wallet gather coin-age and can generate POS rewards

basical in the rollout plan above the green line POS coin rollout is weaker than estimated
(why POS coinrollout is weaker than estimated is because less people use POS and stake their coins than expected
and more coin-age is burned in transactions of "aged" coins than expected)
the reactor fill the gap so the coin rollout stay as planned

more infos are in this already given answer
https://bitcointalksearch.org/topic/m.10294527

cryptonit

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@Cryptonit and Popshot

Thanks for interesting information regarding "glowing blue" However some questions arose;

The announcement does not provide a timeframe, so when will this reactor start to stake?

When will the mandatory update of the wallet occur?

answer Q1 2015 but we hope to manage finish all parts in a few weeks maybe end of feburary
(Q1 runs until end of month 3)

When do I, as part of cloudmining, have to decide if I would like to take advantage of any slots?

answer the 3 slots we hand out to each existing shareholder of >100 shares are avaiable as long reactor isnt full (100000)
later on all slots have to be earned in a weekly competition

The earlier provided reactor staking adress does already contain DMD. Most of them were transfered to the adress before Popshots announcement. Do those coins belong to DMD foundation? In the announcement the size for each slot were said to be 500, how come there are other size of amounts on the adress?

answer the size of transactions have nothing to do with the slots slot tracking will be done in database the wallet itself just run POS mode and end of each week the amount of coins above 100000 in the wallet is split following the reactor rules

answer: the reason why we already filled part of reactor with coins to start grow coin age
if the whole reactor fills until launch with cloudmining investors DMD then there will be only foundation DMD in for the first 10 weeks (25000 dmd)
we cant hand out that low duration slots as reward for longterm dmd supporter
if reactor dont fill up with following the stated rules sets we will find ways to give interested people a chance to place in more coins
i understand there are people following the mindset we send coins the last day possible (which involve always the risc that late might be to late)
basical that is abuse the other people who send earlier and help the reactor build up coin-age
same like a last day of month investment into DMD cloudmining to get the full month reinvest shares
but thats the way some humans are we cant change mankind...

Cryptonit, you said

Quote from: satoshi on February 16, 2010, 12:36:40 PM

there are some miss understandings or lets say bad explained by us

we now fill the reactor no one did go through a competition for slots so noone have guranteed 40 weeks time in reactor

in fact we start with 100000 dmd in reactor but already after 1 weeks 5 slots will be replaced

that first we slots with duration below 100 weeks we fill with foundation DMD so noone is frustrated his time in reactor was so short....

the other slots are filled by round robin

answer typo 40 weeks (the rest i answered already before)

mitache365

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I dont like the idea any address to stake with 200% or 4x than mine. sounds like inflation.

hallared

full member

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Merit: 101

The hen or the egg

@Cryptonit and Popshot

Thanks for interesting information regarding "glowing blue" However some questions arose;

The announcement does not provide a timeframe, so when will this reactor start to stake?

When will the mandatory update of the wallet occur?

When do I, as part of cloudmining, have to decide if I would like to take advantage of any slots?

The earlier provided reactor staking adress does already contain DMD. Most of them were transfered to the adress before Popshots announcement. Do those coins belong to DMD foundation? In the announcement the size for each slot were said to be 500, how come there are other size of amounts on the adress?

Cryptonit, you said

Quote from: satoshi on February 16, 2010, 12:36:40 PM

ANSWER there are some miss understandings or lets say bad explained by us

we now fill the reactor no one did go through a competition for slots so noone have guranteed 40 weeks time in reactor

in fact we start with 100000 dmd in reactor but already after 1 weeks 5 slots will be replaced

that first we slots with duration below 100 weeks we fill with foundation DMD so noone is frustrated his time in reactor was so short....

the other slots are filled by round robin

big_coins

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i dont like the sound of this 'special' block of addresses.

It means there are now 2 tiers of diamond users.

This means some block addresses are now effectively worth more than others. Are they going to be traded on a different market ?

So if you are a 'normal' DMD owner the foundation has just devalued your holding for you.

I'm yet to see an upside of this. It seems only to advantage Helmut's mining service ?

Now if EVERY wallet was allocated one of these addresses it would be ok, but just giving one person an unfair advantage over the whole community doesn't sit ok with me.

pokeytex

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Quote from: utahjohn on January 28, 2015, 11:03:53 PM

@pokeytex
we could use your help with some hashrate getting http://dmd.donkeypool.com:808 up to speed

Ah - At the moment I am aggressively mining Spreadcoin. I have no GPU's to send. Once the masternodes go into effect I will send some GPU's your way.

utahjohn

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@pokeytex
we could use your help with some hashrate getting http://dmd.donkeypool.com:808 up to speed

pokeytex

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Quote from: Hilux74 on January 28, 2015, 08:51:34 PM

Quote from: pokeytex on January 28, 2015, 08:02:05 PM

Since POS takes a bit to warm up I believe they are having us submit to the wallet in which they already added foundation funds to. I believe this is for the sole purpose of starting coinage. If I understand correctly my 1500 dmd is going to be swapped with 1500 dmd that is already aging in the wallet essentially giving me and others instant POS rewards. I am not sure I see the problem. Can you explain why you think this is not going to work? It makes total sense to me. What even weirder is that I have never seen you in this forum before. Are you even a Diamond investor?

I have been mining DMD since switch to Grostl algo, even though the amount of DMD I own has no relevance to the issue I mentioned and by bringing that as a roadblock to a valid concern makes little sense. I watch the DMD thread as it is a coin of interest of mine obviously but I guess up until now I haven't had any comments that were not already covered by others. In fact your entire response has nothing to do with my comment so I must ask can you even read english and why did you bother responding??

Thx Ultrajohn and cryptonit for providing useful information on how the special case wallet will be handled with a mandatory update.

Hilux - Ok - first let me apologize. No offense was intended but I can see how my comment got you on edge. I have been dealing with trolls/fudsters all week in another thread. Your question was sounding like the beginning of a negative rant and I just jumped at you. Not fair on my part. With that said - yes I speak english - born and raised in the garden state. I am not a mechanic nor do I understand the programming aspects of running a coin. Ultimately I am a believer in all this coin has to offer as a storage of wealth and one day a transfer of wealth. I too have been mining it since it was a scrypt coin. I believe in Cryptonit, Popshot, and Danbi and put full trust in them. I have sent multiple payments to Cryptonit to purchase cloud mining shares and he has always been nothing but a pleasure to deal with. I know you are looking for more technical but I am not that type of investor. I have seen DMD implemented and the way it works. I trust in the team(people) running it and some might say it is blind faith but I say it is trusting in people that have a stake in the game. Anyway welcome aboard. I was genuine in asking if you could explain why you were concerned that it wouldn't work?

LTCMAXMYR

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DMD,XZC

the hash rate is amazing Grin

let's wait 100K sat in few days

utahjohn

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Quote from: vegasguy on January 28, 2015, 09:34:51 PM

So clearly the wallet is online, and not in cold storage. What if the wallet gets hacked and emptied? It can and does happen daily in crypto. Who is responsible for stolen dmd?

Vegas

already 35500 DMD in it ... will be largest wallet when it hits 100000 ...
https://chainz.cryptoid.info/dmd/address.dws?107821.htm

Topic: [ANN] ¤ DMD Diamond 3.0 | Scarce ¤ Valuable ¤ Secure | PoS 3.0 | Masternodes 65% - page 605. (Read 1260677 times)