WTF is Bitcoin Diamond?

in #bitcoin7 years ago

Here is a quick, shitty review of the below article:

What Is Bitcoin Diamond? by JP Buntinx

https://themerkle.com/what-is-bitcoin-diamond/

What IS Bitcoin Diamond? Honestly, who cares? It sounds like another shit-fork to me.

But, its important to know whats going on in crypto because its a rapidly changing landscape. If you do care, its another Bitcoin hardfork that aims for anonymity. I think the article sums it up best when he states "It sounds somewhat similar to Monero, but it is doubtful the Bitcoin Diamond implementation is even half as competent."

The artcicle goes on to say"Bitcoin Diamond boasts it will provide fast transactions thanks to its 8MB block size limit." which raises the question, who will be mining with all this insanely expensive equipment? It either sounds centralized or they don't understand what they are doing and are just copying code.

The article also goes on to say in reference to Bitcoin Diamond already being accepted on a variety of markets "That’s very suspicious, as it indicates that exchange owners are colluding with these developers to make a quick buck."

I'm not sure if I completely agree, I dont see most markets getting political when it comes to markets. They are in it for the money and a new market, no matter how bullshit, is a potential for more money.

I checked Coin Market Cap at https://coinmarketcap.com/currencies/bitcoin-diamond/ and it looks like its only a Futures market as of publishing.

Bitcoin Diamond [Futures] (BCD) $64.74 (-3.92%)

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You know James Dimon? = Bitcoin Diamond!

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