Introduction
It's getting harder by the day to mine cryptocurrencies profitably because of ever increasing difficulty rates and Chinese state electricity subsidies. A variant many miners are utilizing is by going to nicehash or the site whattomine.com to find the most profitable coin to mine.
Diamond coins (DMD) as our new consensus-coin
In a crypto-world of diminishing returns, it can be a good idea to use a "consensus-coin" for storage of value. What is a consensus-coin? It's a cryptocurrency which people -through general consensus- choose to actively use by default to store their hard earned cash. For instance, you mine an intermediary cryptocurrency X, sell it at any market rate, to buy DMD for the proceedings. As it stands now, Bitcoins is holding the throne, but for how long? But why would you use DMD as a consensus-coin? BTC has something called "BTC death spiral". Doesn't sound appetizing now, does it? So with the bitcoin wars, or shall we say cold wars going on, investors should be looking for safer storages of value for their money. Not many people know this. DMD is heavily undervalued as it stands now. Since miners cannot mine DMD coins directly, they can for instance mine ETH, and sell that ETH directly for DMD on livecoin.net, then transfer it to their DMD wallets for a safe and enviromentaly friendly storage of value.
DMD investor and miner bart
Here are the words from one of our own former DMD-miners - bart - who tells us his story from back in the hey-days when Diamond coin transactions were partly confirmed via proof of work (POW):
"I am a tech guy who work in computer industry. I heard about bitcoin and decided to discover blockchain technology for myself. I bought a gamer computer back in 2012 and mined bitcoins with my single gpu. In mid 2013, I took a second old GPU and decided to mine litecoin. I tried, made a little money by trading but i failed hard. So I decided to sell all my altcoins and in search of a good POS coin, since POW was getting ever harder. Using bitcointalk forum I found DMDCOIN which featured a dedicated team and fair coin distribution. That was all what I needed!
Most of my DMD were solo mined, and for a while I tried pool mining too. The mining cost me around 600 to 650$ in one year and a half but I couldn't afford paying 50$ a month more than i was already paying for my house. Therefore
I stopped mining and starting staking, never checking the balance during this time. Now i have 1236 DMD, which valued at 9.5$ is a good investment considering it only cost me 650$ initially. Now, around 3.5 years later, the my DMD coins are nearly worth 12000$. I don't need to sell theses DMD for a living, and I will hold on to them, because i think DMD will go to the moon !!!!! bart [2017-11-23 12:22 PM] "
Bottom line
DMD coins has risen around 10-20x in 2017 alone (depending on how early you bought in). Because of growing popularity, coin rollout and shortage of DMD supply, in conjunction with the DMD investor's holder mentality (read about miner-bart in the paragraph above!) and active DMD-founders, Diamond coins will according to conservative estimates 3 fold in value year on year the next 10 years.
That's not a bad investment for a gamer or a miner now, is it?
Needless to say, I'm heavily invested in DMD coins so please do your research before drawing your own conclusions.
DrDMD
If you're interested, fill in https://bit.diamonds/contact.php and ask for an invite and you will receive an invitation shortly to our DMD-slack channel.