Header banner
Revain logoHome Page

Reviews

Global ratings 186
  • 5
    52
  • 4
    105
  • 3
    20
  • 2
    8
  • 1
    1

Type of review

Revainrating 5 out of 5

What’s the point of Bitcoin Diamond? Which problems does the currency seek to…

What’s the point of Bitcoin Diamond? Which problems does the currency seek to solve? The website identifies three main areas of concern: Lack of privacy protection Slow transaction confirmations High thresholds for new members 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”.

Pros
  • What is Bitcoin Diamond? Bitcoin Diamond is one of several competing versions of bitcoin that have emerged in recent weeks. Just like similar proposals Bitcoin Silver and Super Bitcoin, Bitcoin Diamond promises to improve bitcoin in a number of different ways.
Cons
  • How Does Bitcoin Diamond Work? Bitcoin Diamond, or BCD, is a fork of the bitcoin blockchain. The fork will occur at block 495866. Once that block occurs, a new BCD chain will be generated. At this point, BCD miners will begin creating new blocks with a new proof of work algorithm.

Revainrating 5 out of 5

What features will Bitcoin Diamond have? Privacy Protection: Encrypting the…

What features will Bitcoin Diamond have? Privacy Protection: Encrypting the amount of account assets and transaction amount that can protect the privacy of individuals and trade secrets of financial institutions. This new encryption can guarantee the safety and confidentiality of business activities. Fast transaction confirmation: Because Bitcoin Diamond's size is 8 megabytes, there will be a high capacity for transactions, which will increase transaction confirmation speed over the entire…

Pros
  • Bitcoin, although the most famous currency in the world, is not without fail. Unfortunately, the Bitcoin transaction processing process takes a lot of time and, as prices change quickly, it creates problems in trading. This is due to the fact that the bitcoin blocks are limited to 1 megabytes, 3 transactions per second. But on the other side Bitcoin Diamond has blocks of 8 megabytes that speeds up transactions five times. In this way, the cost of bitcoin diamond transactions is much lower than the cost of bitcoin transactions
Cons
  • Whatever the criticism of Bitcoin Diamond is that the team is unidentified behind it, because the anonymity of Beethoven's founder still makes many people do not trust the currency, and there is the impression that a sabotage team is behind it.

Revainrating 4 out of 5

Bitcoin Diamond is a fork of the original Bitcoin blockchain. The fork aims to…

Bitcoin Diamond is a fork of the original Bitcoin blockchain. The fork aims to improve bitcoin in two major ways: it plans to add additional encryption to each transaction, and it plans to increase the default blocksize limit to 8MB. Ultimately, Bitcoin Diamond seems to have more in common with Bitcoin Cash (BCH) than legacy Bitcoin (BTC). It’s also not totally clear who’s behind the project, how the blockchain fork works, or what type of additional encryption is being used

Pros
  • Max Supply: 210 million Distribution: Mining and claiming Mining Algorithm: SHA256 Block Time: 10 minutes Max Blocksize: 8MB Difficulty Adjustments: Every two weeks Max Transactions Per Day: 4.8 million SegWit: Yes Relay Protection: Yes Ultimately, based on these features, Bitcoin Diamond seems to have more in common with Bitcoin Cash than the original Bitcoin.
Cons
  • Lack of privacy protection Slow transaction confirmations High thresholds for new members

Revainrating 5 out of 5

We already know BCD has helped decentralize mining – The centralization of…

We already know BCD has helped decentralize mining – The centralization of Bitcoin miners has been an ongoing problem. When at this time BCD doesn't face any problem with this matter. As we know the main reason is Bitcoin Diamond split from the SHA-256 algorithm that is controlled by ASIC miners and moved to a GPU-mining friendly algorithm.

Pros
  • In my view, BCD is the lowest charge way to send your crypto one account to another account. Which make it high valuable and more popular in this days. If we analysis Bitcoin Diamond with Bitecoin than we find out how much cheaper BCD from Bitecoin and also another cryptocurrency.
Cons
  • We already know which go fast, it also falls fast. It will have happened with every fast going highly in this market. So, it's will be good if we analyze market data, project capacity then push our money with it. In cryptocurrency market, there are always alternative come so fast. So, wait & see what happen next!

Revainrating 5 out of 5

Also note that you’ll need a trading account at the exchange you choose to use…

Also note that you’ll need a trading account at the exchange you choose to use, and in most cases that means you’ll have to submit quite a bit of personal information to meet the KYC and AML regulations upheld by almost every centralized exchange. If you aren’t fond of the idea of potentially linking your personal details to your Bitcoin Diamond by purchasing them through an exchange you could use a peer-to-peer marketplace instead. LocalBitcoins is one such P2P marketplace, but you might find…

Pros
  • BCD tokens let you store your wealth away from possible seizures and prying officials – This is another benefit of cryptocurrencies in general. Unlike traditional bank accounts, there is no way for a government entity or organization to freeze your Bitcoin Diamond funds. In fact, thanks to the privacy aspect of the coin no one will even know that you own Bitcoin Diamond
Cons
  • The threat of being hacked and losing tokens – This is a risk with any cryptocurrency, and if you’ve been following cryptocurrencies for any length of time you know how vulnerable any coins held at an exchange are. If you’re going to accumulate Bitcoin Diamond make sure to store them in your own wallet, and preferably on a hardware wallet

Revainrating 5 out of 5

Bitcoin Diamond has helped decentralize mining – The centralization of Bitcoin…

Bitcoin Diamond has helped decentralize mining – The centralization of Bitcoin miners has been an ongoing problem, but Bitcoin Diamond doesn’t suffer from this problem. The main reason is that it split from the SHA-256 algorithm that is controlled by ASIC miners and moved to a GPU-mining friendly algorithm

Pros
  • It’s a faster cheaper way to send money– One of the key reasons for the creation of Bitcoin was to make sending money easier and cheaper. Bitcoin Diamond has certainly accomplished that, and it is both faster and cheaper than Bitcoin. In fact, it is cheaper than most cryptocurrencies, primarily due to its low value when compared with other major cryptocurrencies
Cons
  • The danger of more advanced cryptocurrencies entering the market – Bitcoin Diamond was created to address perceived flaws in Bitcoin. It’s still very early in the cryptocurrency game, so there’s no way to see if an even better alternative will come along in six months or a year, or even 2 years.

Revainrating 5 out of 5

The aim in creating Bitcoin was to create a completely decentralized digital…

The aim in creating Bitcoin was to create a completely decentralized digital currency that made transactions faster, cheaper, more reliable, and more private than current financial transactions. While Bitcoin did realize those aspirations, there’s no doubting that it isn’t perfect, and that changes can be made to improve on the original Bitcoin implementation

Pros
  • In this case there are three, with two identifying themselves as “Evey” and “007”, and the third remaining fully anonymous. It was later mentioned that the names actually referred to development teams, and that the likely location of the Bitcoin Diamond Foundation is Singapore.
Cons
  • While Bitcoin did realize those aspirations, there’s no doubting that it isn’t perfect, and that changes can be made to improve on the original Bitcoin implementation. Like other blockchains, Bitcoin Diamond is a decentralized network aimed at providing users a means to exchange value. Because it was forked from Bitcoin it shares similarities with the parent coin, although it has differences as well

Revainrating 5 out of 5

The launch of Bitcoin Diamond occurred on November 24, 2017 when the Bitcoin…

The launch of Bitcoin Diamond occurred on November 24, 2017 when the Bitcoin blockchain reached block 495,866. The problem at the time (or one of the problems) is that the founders of Bitcoin Diamond had released nothing at that point. No whitepaper, no community formed, very little information, and as far as anyone could tell no blockchain because there was no source code released, or even a GitHub account at that time.

Pros
  • Like other blockchains, Bitcoin Diamond is a decentralized network aimed at providing users a means to exchange value. Because it was forked from Bitcoin it shares similarities with the parent coin, although it has differences as well.
Cons
  • At the release there were 170 million Bitcoin Diamond released, with the remaining 40 million being held in reserve for mining rewards. It was also stressed by the developers that Bitcoin Diamond was not created as a competitor to Bitcoin, but is rather more of a dividend for Bitcoin holders, and is making an effort to increase cryptocurrency adoption and use.

Revainrating 5 out of 5

with most pump and dumps usually completing their cycles during intraday…

with most pump and dumps usually completing their cycles during intraday trading. This tells us that BCD has very little sentimental value to the market and really only serves as a vehicle for getting the market motivated during slow periods with these fleeting frenzies.

Pros
  • Interestingly, if we now look at the markets, we can see a huge discrepancy in BCD prices, that, if are true, offer huge gains via simple arbitrage trading. According to the current BCD markets, BCD on Binance is listed for a whole 678% more expensive than if you were to buy it off Indodax - an Indonesian crypto exchange
Cons
  • It will be interesting to see in the future whether this project will ever be taken seriously as a legitimate investment opportunity or if these radical ‘boom-bust’ movements will make a more commonplace appearance in the day-to-day market

Revainrating 5 out of 5

The development team moved away from SHA-256 because it has become dominated…

The development team moved away from SHA-256 because it has become dominated by specialized ASIC miners that have centralized Bitcoin to some extent. Instead, Bitcoin Diamond uses an algorithm known as X-13 which is ASIC resistant and allows miners to use basic GPUs to help secure the network and provide verifications

Pros
  • At the time there was all kinds of speculation that the coin was a scam. Some said that Bitcoin Diamond was only created to cash in on the Bitcoin name, while others claimed that you could lose your personal information by claiming the Bitcoin Diamond created by the hard fork. One change that was made, and we aren’t sure what the purpose is, is that Bitcoin Diamond was created with 210 million coins. That’s 10 times as many coins as Bitcoin
Cons
  • So far there’s no real proof of any scams surrounding Bitcoin Diamond, although we’ll see that pump and dump action from the coin might be a reality. Let’s look deeper into what’s being self-labeled as the “Better Bitcoin

Revainrating 4 out of 5

Bitcoin Diamond miners will begin creating blocks with a new proof-of-work…

Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and enhance the protection for account transfer and privacy based on original features of BTC. The original Bitcoin blockchain will continue on unaltered, and a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this

Pros
  • Bitcoin Diamond has raised the block size as part of a massive on-chain scaling approach. There is ample capacity for everyone’s transactions. The speed of generating blocks will be increased five times and the ultimate goal is to improve transaction confirmation speed for the entire BTC blockchain
Cons
  • The BCD unexpected value may be reusable for the price prices (Bump-and-Dumb) in the field market. Show at the average price of this coin is a 23.78 USD, discount less than 30% in 24 hours.

Revainrating 4 out of 5

Bitcoin Diamond (BCD) is a Bitcoin-encoded currency and was created after its…

Bitcoin Diamond (BCD) is a Bitcoin-encoded currency and was created after its development team made the Fork series from Bitcoin's Blockchain platform. Bitcoin Diamond was created to overcome the limitations of Bitcoin's "eldest brother" regarding security factors and block size and execution time of transactions.

Pros
  • Hard forks on the Bitcoin network put holders of Bitcoin in a unique position. Whatever amount of Bitcoin they hold, they get the same amount of the new currency, free! The Bitcoin Diamond fork increased the total supply of the coin. For every one Bitcoin users held, they actually got ten BCD for free. Good deal, right?
Cons
  • But even bitcoin diamond got this half statement right, "The high Transaction Fees associated with Bitcoin has become a great resistance for transfers...

Revainrating 5 out of 5

The development team of Bitcoin Diamond is still anonymous, only the core…

The development team of Bitcoin Diamond is still anonymous, only the core members who have the most members are using the mysterious names Evey and 007. Also a community of its own named Bitcoin Diamond Foundation.

Pros
  • Bitcoin Diamond coin could win over a lot of Bitcoin users with its faster transaction times, lower fees and easier access to new users.Bitcoin is a hugely popular coin but it can be quite difficult to use! Many critics of Bitcoin argue that the coin won’t be a valid replacement for normal money until users can make small purchases; quickly and easily.
Cons
  • Just because it has a marketcap doesn't mean it has value. There are hundreds of dead projects which still have marketcaps and the bitcoin airdrops variety has an extra advantage.

Revainrating 4 out of 5

BCD Coin also tries to pull transaction costs down. Because trading with…

BCD Coin also tries to pull transaction costs down. Because trading with Bitcoin (BTC) will take a lot of time to process, while increasing transaction costs are increasing. This is because Bitcoin's block size is limited to just 1 MB, equivalent to processing only 3 transactions per second.

Pros
  • Encourage more new users: Bitcoin has become very expensive. Today, one Bitcoin is worth more than 6,500 USD. This makes it very hard for new users to buy one Bitcoin. The creators of BCD feel that Bitcoin should be for everyone, not just those who can afford it.
Cons
  • Deposits are blocked on Binance => it's easy to pump.

Revainrating 4 out of 5

Bitcoin Diamond is one of the coolest coin producers today. It is undeniable…

Bitcoin Diamond is one of the coolest coin producers today. It is undeniable that Bitcoin Diamond is still building a strong, growing community. Its goal is to become a coin superior and more powerful than Bitcoin.

Pros
  • Lower transaction fees: Each transaction on the Bitcoin network is charged a fee. The fees for transactions have become very high in recent years. Cryptocurrencies are supposed to help users avoid paying high bank-transfer fees so Evey and 007 felt that Bitcoin’s fees should be going down, not up!
Cons
  • It's POS, but POS for what? more of something that doesn't seem to have any use or function I don't get it

Revainrating 4 out of 5

The team behind Bitcoin Diamond wanted to encrypt more user information…

The team behind Bitcoin Diamond wanted to encrypt more user information. However, they have recently decided not to add more privacy features to BCD. They feel that governments will soon start passing laws that stop cryptocurrencies from hiding user data. In a statement published on Medium, the team noted Japan and Russia as examples of this trend.

Pros
  • Faster transaction times: Most cryptocurrencies are struggling to reduce the time it takes for transactions to be completed. The Bitcoin network can only process about 2-7 transactions per second (Tx/s). Payment processing services like Mastercard and Visa can process thousands of transactions per second. The BCD team felt that it was time for Bitcoin to catch up!
Cons
  • The high Transaction Fees associated with Bitcoin has become a great resistance for transfers and extremely hindered the volume for users to choose Bitcoin

Revainrating 4 out of 5

I think that education Bitcoin Diamond with its very good improvements is only…

I think that education Bitcoin Diamond with its very good improvements is only welcome. We also need to increase confidentiality, such as hiding the amount and balance in the wallet to avoid targeted hacker attacks on wallets with large amounts, and reducing the time of transactions, and its cheapness. I do not see anything wrong here, if such improvements have not been carried out for a long time in the original bitcoin.

Pros
  • You do not need to worry about money supply or inflation because there will be up to 4.2 billion coin. Only 10,000 blocks are exploited in the form of PoW. From then on, these coins will be fully integrated with PoS.
Cons
  • Bitcoin Diamond as well as other Altcoin coin, its value in the future is still a mystery, no one can predict.

Revainrating 4 out of 5

Bitcoin Diamond has raised the block size as part of a massive on-chain…

Bitcoin Diamond has raised the block size as part of a massive on-chain scaling approach. There is ample capacity for everyone's transactions. The speed of generating blocks will be increased five times and the ultimate goal is to improve transaction confirmation speed for the entire BTC blockchain

Pros
  • Bitcoin Diamond has announced that it will expand its blocks to 8 MB, thereby increasing volume and reducing transaction costs, while also providing new block times up to five times faster.
Cons
  • Trust: Hard-fork coins need to win the trust of the crypto community. No one knows who Team Evey and Team 007 are. A lot of users don’t think it’s legit and some even accused it of being a scam when it launched. Bitcoin Diamond will have to prove itself over the next few months or it could disappear completely!

Revainrating 4 out of 5

Even though the price of this crypto price is low, the total value of all the…

Even though the price of this crypto price is low, the total value of all the BCD on the market is still well over 285 million USD. The market is becoming very crowded with Bitcoin fork coins and only the ones with the best protocols will succeed.

Pros
  • High volume/low value transactions: Bitcoin is the world’s top cryptocurrency but it’s still quite difficult to use. Diamond coin’s high transaction speeds and low price could make it perfect for buying and selling small and inexpensive products like coffee or bus tickets.
Cons
  • The lightning network: The BCD team has promised lightning network technology but hasn’t launched it yet. They failed to improve privacy features so they might also fail to launch the lightning network. We’ll have to wait until July 31 to find out!

Revainrating 4 out of 5

Hard forks are a part of an ongoing process to build the perfect cryptocurrency…

Hard forks are a part of an ongoing process to build the perfect cryptocurrency. Bitcoin Diamond has made some important changes to Nakamoto’s software. Diamond coin isn’t a perfect cryptocurrency but neither is Bitcoin or Bitcoin Cash. However, each new idea brings us closer to a world where the transfer of important information is fast, easy and free.

Pros
  • Inclusive mining: Bitcoin Diamond makes it easy to mine BCD with less powerful computers. GPU mining allows more users to get involved in supporting the network and this can only be a good thing.
Cons
  • Privacy features: Bitcoin Diamond hasn’t increased the level of user privacy. This will annoy users who think that Bitcoin transactions are too easy to track.