Bitcoin Diamond (BCD)

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Official site (website): http://btcd.io/ Official Twitter account: https://twitter.com/BitcoinDiamond_ Reddit: https://www.reddit.com/user/Bitcoin-Diamond/ Official Telegram channel (group): https://t.me/BCDcommunity Official Facebook account (fb): https://www.facebook.com/bitcoindiamond01Slack channel: https://bitcoindiamond.slack.com/

Truth and facts[edit]

  • Bitcoin Diamond was forked off from Bitcoin blockchain at block height 495866 on 24th November 2017 (at time: 09:20:12).[1]
  • Total Bitcoin Diamond supply: 210 million. Which 10 Bitcoin Diamond for every 1 Bitcoin.[1]

Aims

  • Bitcoin Diamond aims to improve the transaction confirmation speed for the entire BTC blockchain, to lower costs by reducing the transaction fees and to make Bitcoin more accessible by increasing the total supply by tenfold.[1]

Features [2]

  1. Protection of privacy: Encrypting the amount and balance to protect user privacy.
  2. Reducing the cost of transfer: At present, the high Transaction Fees has become a great resistance and extremely hindered the volume Bitcoin for users to choose Bitcoin.
  3. Reducing the cost of participation: The current situation is the over-priced of Bitcoin, higher the total amount of Bitcoin Diamond and lower the price which will involve more people to participate in Blockchain world.

Official

  • Slogan: Better Bitcoin.[2]
  • Based on Bitcoin protocol to improve the privacy and processing speed of transaction.[2]


Video Playlist[edit]

Bitcoin Diamond - www.btcd.io

00:00 Bitcoin Diamond was forked off of the Bitcoin blockchain on November 24th 2017 at block height 495866.
00:08 The original Bitcoin blockchain will continue unaltered, but a new branch of the blockchain will split off from the original chain.
00:16 It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block for which it diverges.
00:23 As a result of this process, the new cryptocurrency - Bitcoin Diamond was created.
00:33 There's a total of 21 million bitcoins making it one of the scarcest cryptocurrencies available.
00:38 There's a total of 210 million Bitcoin Diamonds which is a much healthier supply, but not overinflated like standard fiat is with over 100 trillion bills printed worldwide.
00:50 For every Bitcoin there's ten Bitcoin Diamonds which creates a higher threshold for new investors and exchanging.
00:57 Three more concerns Bitcoin Diamonds developers addressed work: Slow transaction speeds by following the SegWit.
01:05 A lack of privacy protection by allowing encryption of transactions and balances.
01:11 And lower transaction fees.
01:16 Block information is divided into trading and witness information.
01:19 The original Bitcoin had to record trading and witnessing in the same block.
01:25 Which means it cannot bear an increase in trading.
01:27 Because Bitcoin Dimond is using SegWit each block only records trading information.
01:33 Which means each block can record more trading.
01:36 Bitcoin Diamond will also increase the unit block to bear increases in trading, optimizing the storage on the Bitcoin Diamond network.
01:43 There's a few ways to get Bitcoin Diamond: Over 30 exchanges with more coming everyday.
01:50 Wallets that support Bitcoin and Bitcoin Diamond side-by-side will be listed on the Bitcoin Diamond homepage.
01:57 If you are holding bitcoins when the fork occurred, mining them with a full node client or with a community pool.
02:06 The developers will also award community members who contribute to the growth and promotion of Bitcoin Diamond.
02:13 While Bitcoin Diamond does have its advantages over the original Bitcoin, this fork was not created to compete, but to improve Bitcoin and the investor and user experiences.
02:23 Bitcoin Diamond aims to improve the transaction confirmation speed for the entire BTC blockchain, to lower costs by reducing the transaction fees and to make Bitcoin more accessible by increasing the total supply by tenfold.

Daily: WTF is Bitcoin Diamond / Altcoins Attack!

00:00 What's up everyone, my name is Michael and welcome to box my name daily.
00:01 Today we're gonna start off with the market analysis, just a lot of bulls on the market today.
00:07 All the altcoins are rising up, Ethereum is on his bull run and bitcoins growing as well, so there's a lot of talk about today.
00:14 We also want to talk about Bitcoin diamond, it forked yesterday, we get a 1 to 10 ratio of Bitcoin diamond.
00:22 So I'll talk a little bit about what is Bitcoin diamond where you can trade it and a little bit about what this whole thing is.
00:27 We also have a Bitcoin account holder he claims that he lost over a hundred thousand big worth of Bitcoin after sending Bitcoin on an unsecured Wi-Fi network.
00:37 So network security, security in general is a big concern in the cryptocurrency space.
00:42 And we see Korea's second largest bank there apparently trying to build a secure crypto wallet service so this is something that we are trying to work towards in the cryptocurrency realm, so we want to see what's happening there.
00:54 Lastly I'd like to say that everything covered here is my personal opinion and not financial advice.
00:59 So starting off with the market recap, we have a lot of growth today, like a whole page of green and claim market caps.
01:08 So just uh almost everything is rising up apart from big quick cash.
01:14 But Bitcoin cash had a major rally yesterday anyway.
01:15 So anyways look at the market cap right now we have Bitcoin at eight thousand four hundred and seven dollars, so a two point seven percent increase in the value of Bitcoin.
01:23 Bitcoin is extremely like valuable right now.
01:29 And like a lot of people were predicting a little bit of drop or maybe a fight with Bitcoin cash but it seems like Bitcoin is holding its ground and it's pushing up to new heights.
01:36 We also have Ethereum.
01:38 Ethereum had a major jump yesterday, we haven't had it like a 300 for a while and now it's a 461 dollars, so just as a huge peak upwards in an upward trend.
01:50 If you just look at it was just another, I really like the chart, just another spike up.
01:53 And we have mostly Koreans trading it, so it's 13% trade volume from Korea.
01:59 This isn't as crazy as before, before we only had like 30, 40 % Korean trade volume.
02:04 So definitely a bull run over there.
02:08 We also have other cryptocurrencies like ripple, litecoin, Monero, Neo, they're all rising today.
02:16 And even the oats, the oats that aren't very well known, we have populous 26%, stratus 14, mana coin 23, so lots of double-digit growth in the whole coin sector.
02:26 In fact there's just a whole page of green so if you guys are holding altcoins it is a good day for altcoins today.
02:33 I do feel like one thing that is happening is that a lot of people were waiting for the altcoins to grow, this has been a while, Bitcoin was continuously having 14 news right, it's going forking left and right, and a lot of people putting their money into Bitcoin.
02:47 But I think this way is now over people are feeling okay, we got it this huge schedule of forks that are upcoming, well you know let’s, let's move on and I think it seems like there is a return to the altcoins.
02:58 There was also a major rally in the price of Bitcoin gold, so it does seem like the forks are successful.
03:06 The gates are definitely open right now, I'm trying to form a list of the upcoming hard Forks that are coming, and of course Bitcoin diamond happened yesterday.
03:15 We have Bitcoin silver, Bitcoin unlimited, and super Bitcoin, that's gonna happen soon as well.
03:19 So I'll try to combine all the upcoming Forks on Bitcoin.
03:22 It does seem like the news right now is that because it's so successful, especially Bitcoin gold for the developers, there are more and more developers who want to fork Bitcoin.
03:32 Because well they can pre mined, they can set different things and they can distribute some to themselves and it might be even more kind of successful than an ICO.
03:40 So that seems like the current trend nowadays, which is quite surprising but of course because Bitcoin cash set the way for this and Bitcoin gold was successful for the developers, then well, it seems like this is happening right now.
03:54 So come over to check on the forums, I'm gonna start building a list of the upcoming Forks and have some information about each Fork.
04:01 So next up is Bitcoin diamond, so Bitcoin diamond forked yesterday.
04:04 So this was a block four nine five eight six six, so if you're holding Bitcoin at that time then you are qualified to get 1 to 10 ratio.
04:13 So I do want to say that this is the difference with Bitcoin diamond and every single other Bitcoin fork is that they're forking at a 10 x ratio.
04:22 So the max supply for Bitcoin diamond is 10 times more than that of Bitcoin, so it's at 210 million Bitcoin diamonds.
04:29 If you do have money saved up, a Bitcoin saved up rather, on exchange such as binance, binance has issued a statement that they all work, they all actually, they just did gave out Bitcoin diamonds.
04:42 So if you're holding Bitcoin at that time then you get a 1 to 10 ratio.
04:46 So if you get one Bitcoin, if you're holding one Bitcoin, you get 10 Bitcoin diamonds.
04:49 Right now that Bitcoin diamonds are trading as a futures, the network is not operational.
04:54 So if you look think about it, that means it's trading the futures, that's what you can while you can't claim it on a wallet yet, the exchanges are trading it, so they trade trading the futures of it.
05:03 But if you want to transfer it, you want access it from a ledger or a hardware wallet, you have to wait a while.
05:10 Right now it's rough around $90, which is a really high point if you think about it, because it's a 1 to 10 ratio, which means ya IOB, if it was a 1 to 1 ratio this would be a worth $900, I'm not $900 which is crazy, it's even worth more than big coin gold at this rate technically.
05:24 Well what's special about Bitcoin diamond?
05:29 Well it uses a slightly different mining algorithm and of course they misspelled mining here on the website, I guess it was a very Russian operation.
05:37 So they used a x13 algorithm for GPU mining, they have a 8 megabyte block size and they have support for a sec word.
05:45 And they do claim they have reaping protection here.
05:47 It's developed by a small team of three people I guess that they listed on the website, they're anonymous people so they're, you know, we don't know who they are as Eevee 0:07.
05:56 So this is definitely a mysterious project and it seems like the current trend is to just keep forking Bitcoin.
06:03 In fact, I've seen services now that sell consultation for forks like initial fork offerings, this is like the new current thing for developers.
06:12 So we do have to watch out for.
06:13 I'm not a very big supporter of Forks because I think it does that loot Bitcoin and it gets generates this feeling that well, you know Bitcoin can get forked at any time and it's kind of like inflation if you think about it.
06:25 So it does cost confusion for new players and I've talked to people on the street that have heard about Bitcoin cash and bitcoin gold and everything.
06:31 So it's kind of news roofing and it gets a lot of people, I guess into it.
06:35 The thing is of course bitcoin is decentralized and there's no stopping anyone from forking it.
06:41 If you have a bit of code and if your code can run and your fork can survive and it can get into exchanges, well that's a new fork and that's gonna be a bitcoin fork.
06:49 Next up we have a bit of security news.
06:52 So a Bitcoin account holder loses $100,000 over public wireless network.
06:58 So this has been in investigation right now.
07:00 Apparently a 36 year old man he was using public wireless network to transfer a Bitcoin over in Vienna.
07:06 So one thing that is quite certain is the way they do it.
07:10 So if you send your private key and it gets compromised over unsecured wireless network, then hackers can, you know, take that key and send your funds.
07:20 So this is quite important for, you know, security and overall for crypto.
07:24 One thing that is quite unfriendly about crypto is the fact that, well, your identity is not important rather your private key and keeping that key is of paramount importance.
07:35 And the Fingal security like this is that you don't know what you're doing wrong until you get hacked.
07:41 And when you get hacked, you lose everything.
07:43 It's not like you lose a portion and you have time to deal with it.
07:47 When you lose it, you lose it all at once, so that's what makes it very scary and this is why I've been trying to push for hardware wallets like the ledger or the trezor.
07:54 And at least get people to in the habit of using Hardware laws because the private key is never transferred out of the device.
08:00 That's said of course, over unsecured Wi-Fi you guys got to be really careful.
08:04 You know when using crypto gears new and especially because crypto is worth so much now, there's more and more bugs and viruses that try to steal even your Google account passwords or have key loggers that can try to tap into your email accounts or your exchange account, so you guys gotta be really careful.
08:21 So that's it, there is a Korean exchange, they're trying to build a secure crypt of wallet, this is like the next frontier.
08:27 We definitely see on more and more services that are trying to build in vaulting services even we're talking about that with dash where they want to notify you 24 hours after a transfer action has been initiated, and you have 24 hours to cancel that transaction.
08:43 So there are new wallets that are coming in and new systems that are designed to protect crypto, and one of the banks in South Korea Sheahan Bank, during the process of trying to build equipped equality for the consumers.
08:54 And this is important because as banks try to, you know, there's more and more people pressuring banks to offer Bitcoin services.
09:03 They are starting at least within Korea to build services for keeping that down, keeping crypto, and this is a precursor for allowing more and more people to get into crypto for the bank's themselves to allow exchange into cryptocurrencies.
09:17 So this is definitely gonna be a trend as, you know, we definitely see that more and more institutions are interested in crypto.
09:24 For example Chicago Mercantile Exchange is offering crypto Bitcoin futures and we have a lot of Koreans who are super interested in this.
09:31 So it does seem like that crypto is getting more and more momentum in the public space.
09:34 A quick note as well, ledger is having a 21 percent sale for Black Friday on the electric nano s.
09:42 I think it's the first time ledger had a sale like this.
09:44 So right now it's that forty five point eight two euros.
09:47 So if you guys want to pick one up, they do have immediate delivery from Europe, USA and Hong Kong.
09:52 So it's much more convenient to buy one of these nowadays.
09:56 So if you guys have like, you guys need another one for storing more coins, right now it's probably the best time to get before it returns back to normal price on Monday.
10:03 I will put a link down below, if you use that link it does help me the channel a little bit and it doesn't cost you any extra as well.
10:11 Guys what do you guys think of Bitcoin diamond?
10:12 Did you claim your Bitcoin diamond?
10:14 Are you on Binance?
10:14 And you got your 10 1 to 10 ratio Bitcoin diamond?
10:18 Tell me what you think it's been a crazy ride for Bitcoin diamond futures as well, it's crazy volatile because people still don't know how to evaluate the price of the coin diamond yet and you know even what's special about it and I can the development team keep up with it.
10:31 Also in terms of the Ethereum use this collectible Kitty game, crypto kitties is accounting for 2% of the total gas usage.
10:37 So it's a dab, people can collect kitties I guess and if you guys are interested in this, tell me because I might want to cover this in the future.
10:46 Guys thank you guys so much for watching this episode, I would definitely love to hear what you think about Bitcoin diamond, are you guys supporting it or buying any of it.
10:53 Thank you guys so much for watching this episode, remember to hit that subscribe button to subscribe to this channel and a notification bell to be notified of new videos.
11:02 Thank you guys so much for watching, see you next time.

Frequently asked questions[edit]

  • What is the difference between Bitcoin Diamond and Bitcoin? As well as other Bitcoin forks?
Here is the comparison table showing all the differences between Bitcoin Diamond, Bitcoin, and its earlier forks, Bitcoin Cash and Bitcoin Gold.[2]
Bitcoin-diamond-comparison.png

Reviews[edit]

References[edit]