Bitcoin Diamond

What is Bitcoin Diamond?

Bitcoin Diamond utilizes blockchain and cryptocurrency technology to provide the world’s unbanked and underserved populations with a currency that is accessible, trustworthy, and usable. Created to be a more efficient and secure blockchain than Bitcoin, Bitcoin Diamond strives for better scalability, aligning with Satoshi's vision of decentralization. The X13 Proof-of-Stake network mitigates ASIC miner dominance, and the network's 8MB blocks process 100 transactions per second, addressing Bitcoin's inefficiencies. Bitcoin Diamond serves as a catalyst for financial inclusion, offering the BCD Bazaar as an international marketplace for token holders to access goods and services globally.

Serving as a fast and secure digital currency, Bitcoin Diamond seeks to liberate the capital, intellect, and creativity of the emerging global population, offering a convenient and secure currency regardless of geographic location.

How Bitcoin Diamond Works

Bitcoin Diamond emerged as a fork of the Bitcoin blockchain to address issues such as high transaction fees, slow confirmation times, mining centralization, and scalability problems. The BCD team, a collaboration between team EVEY and team 007, modified the Bitcoin protocol to improve its usability as a peer-to-peer electronic cash system.

Bitcoin Diamond boasts better transaction speed, network security, and scalability than Bitcoin. The blockchain processes 100 transactions per second, with each block accommodating 8MB of transaction data and an activated Segwit feature. The X13 proof-of-work algorithm deters ASIC miners, promoting GPU mining for decentralization.

Forking from the Bitcoin network on November 24, 2017, at block height 495,866, Bitcoin Diamond distributed 10 BCD for every 1 BTC held during the snapshot, totaling 170 million BCD. The remaining 40 million BCD were allocated to the community rewards pool and mining rewards.

Benefits of Bitcoin Diamond

Better Than a Credit Card: Bitcoin Diamond outperforms credit cards with lower transaction fees, superior exchange rates compared to government-backed currencies, and faster transaction confirmations than other digital payment methods. Positioned as the internet's native currency, it offers unparalleled advantages.

Better Than Cash: As a global currency, Bitcoin Diamond allows users to make purchases from any country and have products shipped worldwide, all at a cost of less than a penny per transaction with no currency exchange required.

Better Than Fiat: Bitcoin Diamond, a fork of the Bitcoin blockchain, provides enhanced security against theft and inflation, unlike traditional government-backed currencies. With a limited supply, Bitcoin Diamond ensures controlled inflation, distinguishing itself from fiat currency vulnerabilities.

BCD Pay Wallet App Upgrade

BCD Pay serves as Bitcoin Diamond's online e-commerce portal, allowing merchants to accept Bitcoin Diamond for their goods and services. Complementing this is the BCD Bazaar, the international marketplace where users can purchase products using BCD and BTC, spanning from Apple iPhones to office supplies.

The BCD Pay Wallet App undergoes a significant upgrade, introducing features such as multi-signature cosigning for Bitcoin and Bitcoin Diamond. Users can access the latest blockchain news, browse and shop at the BCD Bazaar directly within the wallet. The app also features the Moon Catcher Crypto Tracker for price movement predictions.

What is the utility of Bitcoin Diamond (BCD)?

BCD serves three primary functions within the Bitcoin Diamond blockchain network, which encompass:

1. Gas Fees: BCD is employed to cover transaction fees within the Bitcoin Diamond network, ensuring the smooth processing of transactions.
2. Rewards: As a form of block reward, BCD serves as an incentive for miners who contribute to the validation of transactions on the Bitcoin Diamond network, thereby maintaining the integrity of the blockchain.
3. Payments: Similar to Bitcoin, BCD functions as a currency and can be utilized for various transactions. Users can employ BCD for payments within ecosystems that support transactions in BCD, including platforms like BCD Bazaar and BTCPay.

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Recent Video Interview

Main points of the interview:

• Bounce Finance is a pioneering a decentralized auction platform in DeFi.
• Started amid DeFi's liquidity boom, filling a gap for auctions.
• Integrating with Uniswap and advancing beyond ICO models to focus on fair and transparent auctions.
• Addressing challenges of scalability and anti-scam measures.
• Emphasizes sustainability post-liquidity mining, integrating interest-bearing options.

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Bitcoin Diamond Price Analysis

As of November 24 2024 Bitcoin Diamond has a marketcap of $16M. This is {{percentagefromath}} from its all time high of $147.18. In terms of its tokenomics, there's a total supply of 210M with 90% currently outstanding. Keep in mind Bitcoin Diamond has a fully diluted value of $18M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.