Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Diamond (DMD) Evolution v 2.0 | NEW wallet, 50% POS Active
by
popshot
on 17/11/2014, 13:15:37 UTC
I'm glad to see the dev team moving forward to establishing DMD as a serious contender in the crypto-coin race. Let me throw a couple of random thoughts to this discussion:

1. Regulation. Any serious cryptocurrency will require both merchant adoption and citizen adoption. But, neither will happen on a mass scale without first regulating the scene. So, in theory, we should welcome regulation. But, in practice: who will represent the DMD community in regulation debates and by what authority? what is our (agreed) stance on regulation, e.g. things like BitLicense? To provide answers, DMD needs institutionalization (something like the Bitcoin Foundation) and more than a few people dedicated full-time to the project.

2. Infrastructure. To be seriously considered, we cannot rely on things like scarcity and a nice name (we already got those and they have taken DMD only so far). We need a robust underlying network. We need to be able to claim (to investors, adopters, regulators, etc.) that we can't even remember the last time the blockchain was forked (plus that we recovered immediately from that incident). We need to be able to show stable wallets, pools, clearing services, exchanges, etc. We also need to be able to claim (by numbers) that an external attack would be economically infeasible for someone to orchestrate and carry out. Again, we cannot show these attributes to any serious business, unless we first invest in infrastructure (hash rate) and development/maintenance effort.

So, in one word, DMD needs RESOURCES. Who will pay for them, who will provide them, and who will run them are the things we should be discussing.

For my part, I'm willing to contribute. Dev team, PM me, if interested.


That is precisely my analysis of the situation gmg. We are already in the process of arranging institulisation of Diamond with transformation from 'volunteers' to people working legally tied to the project. Just the regulations are different in each country and we had trouble with choosing the best avenue. Working full time is difficult to achieve for majority of people, but if there was such possibility I would gladly leave my current job just to work on Diamond's success. More people are needed, that's true but again finding people with like minded mentality to be able to work in a cohesive and dedicated way is not always easy. This is something to be developed for sure.
When it comes to name and specs of the coin, I could not agree more - this is just as much as it gets while the rest will be based on robustness and usability. It's a bit like with having a talent, where it accounts for 1% of success while the rest 99% is hard work. If we do hard work well, the talent of Diamond will be something that will put us in the distinctive position.
I share your views on resources which are rather scarce but I'm sure this is something we can overcome.

Thank you gmg for stepping in, you always contributed as much as you could in the past, your help for sure will be invaluable.