Basic Diamond 3.0 (DMD) facts
More info here: bit.diamonds
Basic diamond 3.0 (DMD) facts
Total coins: 4 380 000
Network Security: 100% active POS + Masternode
Block Time: 135s POS
Current Rewards: 2.35 DMD / block. POS 35% and 65% Mastermode (MN)
Minimum Stake Age: one hour
Confirmation: 6 blocks (1 block for QuickTX)
Block maturity: 640 for POS and MN
Transaction Fee: 0.00005 DMD (depends on the size of the selected group)
Answers and Questions
Where can I get official downloads/information/contacts/etc for Diamond (DMD)?
You can find all this information on the official Diamond (DMD) website at bit.diamonds
On the Bitcointalk Diamond (DMD) OP at bitcointalk.org
Join us on Slack channel
What is a Diamond (DMD) wallet?
A Diamond wallet is a program that runs in conjunction with all the other Diamond wallets in the network and by consensus, records and stores the contents of all wallets.
Other functions unique to Diamond are also regulated by the wallets, such as the creation and acceptance of MN and POS rewards.
This consensus record is known as the Diamond blockchain, and is similar to the consensus records (blockchains) maintained by other cryptocurrency networks.
The main advantage of DMD is that we use complete, environmentally friendly technology, which saves huge amounts of electricity compared to POW coins.
What is the investment strategy for this coin? Could you explain why I should invest in DMD?
The Diamond is positioned as a system for the accumulation and storage of your wealth.
TThis coin has existed since early 2013 and our concept shows that the assets people are investing in DMD are constantly growing.
In the future we will have private services around the focus area of unique items like jewelry, artistic pieces and antiquarianism products.
You can become more familiar with the development plan in our White Paper
What is the maximum network bandwidth for DMD?
At the moment we have a broad enough network bandwidth DMD. This equates to around 84 transactions per second. It is several times faster than that of BTC.
Why the need for Masternodes and how do they affect the DMD network?
Masternode is a progressive technology that enables fast transactions (quickTX,) and makes use of the system of anonymous transactions (mixTX). Currently we have only a small part of this technology, though in the future it will have a much more significant value.
Why do the Masternodes receive a greater reward than POS?
Masternodes receive remuneration worth 65% of the block.
TThis is because the cost of creating and running a MN involves heavy investment and this investment should be encouraged via an equally heavy reward.
What are the earnings received by the MN and how much it is a great investment?
To run one MN you need to have 10,000 DMD. The cost of entering the business depends on the market value at that current time. At the moment it is $170,000.
For more detailed statistics in relation to the awards and cost of MN, visit the following links:
I'm new to the world of cryptocurrencies, could you explain step-by-step what needs to be done in order to start earning with DMD?
In the example below, let?s just assume you?re running Windows (supported version of Win XP, vista, 7, 8 and 10)
Step 2:You need to run the wallet and choose a working directory that will house the system files.
By default, this directory:
* Do not use Dropbox folder for your wallet and its files, it can lead to errors!
Step 3:The next couple of steps are in this Gif animation.
They are: the launch of the wallet, how to create backups and how to export the private key.
click on this image to view the tutorial.
As an added note, you can use multipool.bit.diamonds to convert BTC in DMD.To do so, register there and send bitcoins to the BTC address provided during registration.
* Multipool is primarily intended for miners who want to convert their mining power in DMD (via converting incoming BTC on bittrex). The process isn?t exactly fast, but it comes in useful.
Step 5:After acquiring DMD, you have to send coins to your address wallet. From as early as one hour after getting them, you can run POS minting.
You have to unlock a wallet in the POS staking mode and wait until the diamond icon in the lower right corner of the wallet turns blue. This means that your wallet has started to generate income.
* Before you start on your POS staking, it would be a wise idea to wait for 100% sync (which should only take a few minutes longer,) then you can unlock your wallet for POS minting.
Step 6:You need to switch your settings on your computer to enable active mode.
You should disable the sleep mode, disable the hard drive?s sleep mode after a certain time interval and disable the automatic update after reboot feature. From there you?ll be all set to go.
Step 7:After performing all the security settings and backing up the wallet, it is recommended that you create a single shared one .zip or .rar archive for wallet folder DMDV3.
This will help you in the shortest possible time to restore the performance of the wallet in case of failure or occurrence of any errors
Before packing your wallet folder in the archive, you need to make sure that your wallet is fully synchronized with the network. After that you have to close it and only then you can proceed to packaging.
To restore the original state of the wallet, you just need to delete the DMDV3 folder (when the wallet is closed) and unzip your backup archive into its place. After that, your wallet is ready to work immediately.
* if after creation of backup archive you make any change in files of a configuration of a wallet (diamond.conf or masternode.conf) or add additional addresses to the file wallet.dat then you need to repeat the backup archives procedure after all these changes.
How many coins should I hold on to that feature POS stake and receive a daily award?
There are no restrictions in participating in POS minting. But in order for you to receive daily profit, you must have at least 1,000 DMD. If you have fewer coins, then your reward will not be daily. At the moment, you can claim 25 - 30% of your annual income depending on the number of DMD you have.
I heard that DMD is constantly decreasing inflation, where can I see a graph of the awards in time?
The scheduled rewards you can see on the first page of the forum bitcointalk.org but also, it is given here:
If I have 10,000 DMD, can I simultaneously start MN and get income from POS?
No. You must choose between MN or POS minting; concurrent earnings are not possible. But you can always switch your wallet between these modes.
Where can I get the user manual that outlines running a Masternode?
We have quite a large selection of manuals to help you to run the MN. It can be as simple as starting a wallet on your PC and separately commencing with the launch of the MN on a remote VPS. You can download the archive with the instructions on this site (see the menu) or at this link Diamond Masternode Setup Guides
Besides, you can always get support with all your issues and queries on our #Slack channel.
How can I optimize my 1,000 DMD to obtain maximum revenue from POS minting?
The wallet has optional settings to determine the minimum group size of coins when finding the block. To check your set size, you need to go into the console and run the following command:
If you see a value less than 100, then you need to change it. It is recommended to set this value to 200. To do so, enter the following command:
NOTE: unlock your wallet before completing this action by entering the password.
and restart the wallet:
After that your wallet will split the coins into groups that do not exceed the value of 200 DMD.
I heard that you can change the size of the group of coins using coin control. How do I do this?
The option Coin Control will allow you to track all of the groups of coins that you have in your wallet, and will let manage them here too. If this option is disabled in your wallet, you can enable it by following the steps shown in the following image.
After that, you will see that in the Send tab some additional items appear. Click on the inputs button - this will open a window that allows you to easily see and analyze all of your coin groupings.
To separate your 1,000 DMD into smaller groups, you must make use of the split UTXO option. You can set the values to your preference - as seen in this picture - and can send coins to your own address.
So your group of 1000 coins will break into 5 small groups for 200 coins each. This will increase your chances of finding a block.
It is important to know that your split amount must be greater than the value specified in the ?send to? field. For instance, if you split your coins into groups of 1,000 coins, your original amount has to be at least 1,000.1 DMD.
To give you a better understanding of this, let us give another example. In the following image, you will be shown the breakdown of 500 DMD into groups of 100 coins.
What is the diamond.conf file and what is it for?
The file diamond.conf is an important element of a wallet. It allows you to change the settings and configuration by adding in the following file for added rows. There are quite a number of verbs supported by this file. Here we will give you the most basic:
to limit the number of connections twenty
To use the TOR connection, via Advor or TOR browser with a specified port, use the following code.. The wallet works simultaneously with protocol IPv4 and TOR. In many cases this increases the number of connections to the network.
And use the next code to add trusted nodes into the wallet. This one is best used to rapidly synchronize the waller to the network, which creates reliable base nodes to download the blockchain.
The addresses of these nodes are available on the website Block explorer
To orward port wallet inside the computer 17771 at free port (for example 9111,) then use the upcoming code. This may come in useful if you need to run several DMD wallets on the same computer.
To put a limit on the auto backup for the file Wallet.dat, use the next code. The default is 10 copies that are created each time you start a wallet.
To disable or enable POS minting use the code below. This is necessary for the actions associated with the wallet settings, as it prevents you from accidentally sending coins to the steak.
Use your own address for changeaddress. This essentially prevents the generation of a new address in case of a refund of the unused amount of the transaction.
The rest of the commands you can get from the main wallet menu.
I do not have programming skills. How do I change the settings of my wallet in a simpler way?
You can change most parts of your settings right out of your wallet. For this, you need to navigate through from the main menu. Click Tool -> then click Wallet Configuration file (this file is diamond.conf).
* If you try to open the file, and your computer asks you which program to run it on, you must to choose Notepad.
After that, you need to make changes to this file and save it. From there you need to restart your wallet and all changes will take immediate effect.
How do I ensure that my transaction is sent in the shortest possible time?
By default, the wallet uses a regular outgoing transaction with six confirmations. But you can apply the option quickTX to accelerate the deal. For this you need to put a check in the box quickTX and your outgoing transaction must not exceed 1,000 DMD.
In this case, you need only one confirmation. In the majority of respects, this transaction is no different from the usual transactions.
My computer suddenly rebooted itself when my wallet was running, and when I try to launch it again I get an error message. What do I do now?
This may sometimes happen due to improper wallet shutdown but it can be easily fixed. Just go to the folder with the wallet files and then delete the following files: except diamond.conf, masternode.conf wallet.dat and folder backups (which contains a backup of your files wallet.dat).
After that your wallet will re-download all the necessary files and will function again as normal.
* If you don't know what directory your files are in, then you should check this way for Windows system:
DMDv3 folder and wallet.dat on Mac OSX is located in the directory:
Or to look at how you can do it on Windows 10,
click on this image
1.* If you can't find this path and folder DMDV3, then your system is in enabled mode - "hide system files and folders" - and you need to change it.
Click here to figure out how to do so.
After that, proceed to the next steps.
2.If you want to change the directory for start or move a DMDV3 folder from one place to another, you need to create a shortcut for start your wallet:
And run your wallet through it. After the first run, this shortcut will no longer need.
Wallet will find a new location and when run will automatically refer for the new directory.
If you again want to change the location for your folder of the wallet then you will again have to create a shortcut.
3.* If you have the private key from your DMD address and for some reason can't recover the coins from the backup file wallet.dat, you can import your private key and can use that instead.
click on this image to find out how it?s done:
I have a decent amount in DMD. What do I need to do in order to protect my investments from sudden loss? Are there other ways of protection in addition to creating a backup of the file wallet.dat?
Yes. To create additional protection of your assets, it is recommended to keep separate copies of your private keys for each address that has the coins.
To do this, you need to fully unlock your wallet (by entering your password), go to the console, and execute the following command:
dumpprivkey You wallet address
If your wallet has many different addresses containing coins, and you just want to gain access to the lists of addresses with private keys, you need to enter the next command:
Drive C:\ will create the file test.txt listing all your addresses and private keys to them.
* Remember that all this information is very important and should be stored in a safe place. If someone somehow manages to snatch the data of your private keys, they will be able to take control of all your coins - and that?s never a good situation to find yourself in.
I have one question, where the dumpwallet.old.txt file saved? I don't like to have a unprotected file with my private keys on my hard drive.
I looked in %APPDATA%/DMDV3 and the Programm files directory and I didnt find it.
You can try start once with old wallet but the first thing u do should be in console.
first unlock the wallet with command:
walletpassphrase yourpassword 99999
then execute the command:
Your created file old.txt will appear next with the diamond-qt.exe executable
after this shutdown wallet remove the wallet.dat from datadir and start again.
You have now a new wallet.
now go into console again and run the command:
this will import all the old keys into the new wallet.
After this make sure your password protect the new wallet,dat and make a proper backup.
if this dont work u have to follow the guide export keys using old wallet dont try make transactions without move your keys into new wallet.dat it can result in loss of coins.
I want to obtain income through the DMD, but I can't stay at my computer at all times as I have other duties. This means that others may have access to my computer in my absence. How long is it safe to leave my wallet unattended in such a case?
The DMD wallet provides protection from unauthorized access by third parties when your wallet is in POS minting, but you must understand that the access to your computer by third parties represents an immediate threat to your information and everything else therein.
For example, If someone from the user installs the program for interceptor input (Keylogger), they will be able to capture your password. You ought to evaluate the degree of trust that you have in those people who have access to your computer.
If I only run my wallet occasionally, primarily for POS minting, will my income be as good as it would be if I had the DMD version 2.0?
After moving to version 3.0 in the system, DMD has undergone some dramatic changes. We switched to active POS 3.0 and now earnings for POS mining are only possible if your wallet is constantly running.
Our reasoning behind this is primarily focused on protecting the network. It allows you to evenly distribute the income between all owners of DMD making POS stakes.
You can find more information on that here: White Paper
What additional commands are there for the wallet? where can I find them?
All the basic commands available in the console. All the basic commands available in the console. You can see them by typing in the ?help? command.
What must I do to run two wallets in one system?
This is simple enough. All you need to do is create two independent catalogues for each wallet - this must be done in your file directory, and we?ve outlined the steps below.
Step 1: Close any traces of the wallet, press Windows button + R (for running), and type the following code:
Copy your existing directory to another directory. Use the following to do so:
Step 2: Produce a shortcut on your desktop pointing to the already installed diamond-qt.
Step 3: Right-click on the shortcut and choose properties. Under the Shortcut tab, in the Target: textbox, write the target directory:
Step 4. Go into diamond.conf in that (d:\DMD2) directory and add:
* The port can be any free port on your system.
The label needs to contain this line (startup with drive D:\).
There is an alternative way to run that allows you to run the wallet without binding to the drive letter.
This can be beneficial if you are using a removable USB hard disk or USB flash drive
To do this, you need to create a folder named DMD next to your diamond-qt file.exe
And then create a shortcut to the content:
%comspec% /c start /d "%CD%" diamond-qt.exe -datadir=DMD -port=17772
The file diamond.conf remains empty.
Now you will only have to mark the launch in the minimum form and assign your icon for this shortcut. Now you can carry your wallet file along with a folder and a shortcut to any other location
More detail you can see how it is done in this small GIF clip:
I installed the wallet. How can I see the new address and edit its label?
To gain access to the address of your wallet, you need to go to the main menu and select the tab 'Receiving address'.
Click on this item and in the opened window, select the address. To edit a label address, you need to click on the ?Label? option.
If you want to create a new address, you must go to tab ?Receive? and in the opened window, click on ?Request payment?. After that, an open window will appear that contains your new address.
Now, if you go back to the main menu and into the tab ?Receiving?, you will see that there are two of your addresses.
* It is advisable to only create a new address if absolutely necessary. Doing so for any reason other than because you need to is a great way to cause unnecessary confusion.
I found that in my wallet there are a few empty addresses. Can I delete them?
Delete the empty addresses only if you are ready to remove your file wallet.dat and are prepared to create a new one. For this you have to empty your primary DMD address and temporarily send your DMD to another wallet.
You must be careful, as any removal of the file wallet.dat can cause a loss of coins.
* Only remove the file after making sure that your file wallet.dat is completely empty.
Sometimes, in some of my transactions I see unconfirmed (orphaned) blocks in the form of question marks. Can I clean the wallet from these empty (orphan) transactions?
If you see orphaned blocks, for example, blocks that look like this:
You need to perform the following steps:
Go to the main menu wallet and choose Tools -> Wallet Repair
In the opened window, click Recover Transactions 2. After that, your wallet will be restarted and cleared from orphan blocks entirely.
Can I use a different name for my file wallet.dat? I need to verify my backup with name backup.dat.
Yes. You can use a different name for your file.
But you need to add this line to the file diamond.conf
After that, you need to close your wallet and put your file backup.dat in the folder with the wallet files.
This is clearly demonstrated in this Gif video:
Here is another example of running the backup file from the backups folder:
* You can also use this method to test your backups copies.
But for continuous operation of your wallet, it is still recommended to use the name of wallet.dat.
Where can I get ✧ ✧ for the forum bitcointalk.org?
Go to this page and select the signature according to your status on the forum bitcointalk.org
I am interested in detailed information about DMD. Where can I find further information?
We have a book that is written about the history of Diamond (DMD). You can find it on Amazon.com
It describes the whole history of the coin - from the inception of DMD, right through to its current usage and price.