1 Level
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Review on Bitcoin Diamond by Demi Baxter
it is not easy to discern whether the BCD is created for ideological, monetary…
it is not easy to discern whether the BCD is created for ideological, monetary or technical reasons. Currently, Bitcoin Diamond doesn’t provide the necessary development source code for exodus which provides a smooth experience for crypto users. BCD is controlled by an anonymous Bitcoin Diamond Foundation whose registration information and whereabouts remain unknown. Moreover, BCD has an anonymous and unproven development team. This makes it extremely difficult to pledge support for the coin. Even though BCD seems to be performing quite well on several exchanges where it is listed, there isn’t enough information on the crypto for cautious investors to go forward with
Pros
- The developers of this cryptocurrency have invested in the privacy part of the coin. The transaction amounts and balances of the BCD users are encrypted differently from how Bitcoin (BTC) does it. This privacy design of this coin is somewhat similar to that of Monero digital coin. The difference between this coin and BTC is that its supply is multiplied by 10. This means that while 1 million Satoshi = 1BTC, 10 million Satoshi = 1BCD. Eventually, there will be 210 million BCDs in circulation; 10 times more than Bitcoin.
Cons
- In terms of the total supply, it seems that 170 million BCD will be available on the market, while the remaining 40 million will be reserved for a “community rewards pool as tributes and mining”. Ultimately, the creators of Bitcoin Diamond emphasize that their currency is not a competitor to bitcoin. They describe it as a fork with upgraded technology that preserves the original features.
