Quote from: hallared on November 18, 2014, 05:56:46 PM

Interesting reading about Riga Convent.

However, it would be good to know more specific which issues/problems that is causing the feeling of urgency. Also how urgent is urgent?

To get a better picture of the situation, a clearer identification of the issues/problems and possible solutions in combination with an analysis of consequences would be very appreciated.

Well , these are some of my ideas for you...

Issue number one is security and stability. Even though we have superior setup of hybrid security, PoW is an important part of the network protection. PoS should not be our primary line of defence against the attacks but rather the last resort. At the moment Bitcoin has network hashrate of mind boggling over 300 PH/s. If we were able to tap to this power we would be seen as serious contenders whose network is well protected. The less uncertainty in security department the easier it will be to convince businesses to trust us. We cannot be secured by GPUs only, its not serious.

Changing algorithm would have to go together with the way rewards are issued, it would not be appropriate to allow only selected mining pools to reap all the rewards leaving small time users and miners without possibility of getting hold of Diamonds. We would have to see transformation of services currently provided such as Multipool and Diamond Cloud Mining into one power house that would ensure even and wide distribution of the rewards. We would be aiming at creating volume for Diamond through price hike. There is plenty of volume in Diamond, it is just a matter of price.

We need to go legal to create (non-profit) company that would be able to form formal contracts with businesses. No one is going to deal with individuals. This part is actually really difficult due to various restrictions and lack of clear laws. Banking sector is stifling startups on purpose cutting access to their services and capital. Even though its costly and difficult it has to be done. Anyone who would think seriously about trying to get through to the mainstream or at least Bitcoin like markets could set up a company and together with us form a corporation. This would legitimise our existence and encourage adoption. This is departure from decentralised model into a pseudo certalised one. Many people might not like it, but if we dont want to be gone we need to sacrifice something for greater good.

We need to form a community of people who are able to help this project move forward. Programmers, activists, lawyers, PR, etc.. We need to become members of different Crypto Associations to be abele to voice our needs and opinions and have a say in matters that could influence policies. Taking proactive role in these things would not only be great for networking but would also attract investors which we badly need. Specialists would not be able work for free or just for an idea or promise of future profits, but real salary; right now we are not able to provide such sustained hard cash incentive.

Diamond needs to innovate. I personally hold a view that sidechain technology is something we should really consider. It opens a lot of possibilities for future development and services that would be attractive to businesses. However, not everyone shares my way of thinking on that subject, but this can be negotiated.

In terms of urgency, I think within a year we could expect new regulations on Bitcoin and eventually altcoins which would make things much more difficult to do unless we have some established and investment attractive services. Whats more, Bitcoin and other projects that are way more capitalised do not sleep, they work round the clock to come up with some ever more killer app solutions that would marginalise the need for small scale cryptocoin alternatives.

I want to remind people that we are not here because we have some spare time and have nothing better to do. We strongly believe in cryptos and we want this project to last and be successful, that is why we will do everything in our powers to make it work for us and for everybody else who put trust in Diamond and invested their time, effort and money into it. We cannot have any other mind-set otherwise we fail.

One year, which is my estimation only is a very short period of time. Competition doesnt sleep and we are not allowed to stay static. I would say all the changes are urgent (the sooner implemented the better), some we are already working on while some will take a lot of effort and time to accomplish.

Everyone is welcome to chip in their ideas and most importantly do not sit on the side-lines and observe how it all unfolds. We the people are creating our own future here, the more people are actively involved the more likely our future will happen.