Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 1113. (Read 9723748 times)

Congrats!

That's a crazy amount of coins to sell at once. You'd only do that if you'd want the price to move to a lower floor. Doens't really seem to be working.

where?

Someone just sold 5mn of dash..I buy at 0.012..

I agree with that. Moreover, larger investor have a lot more trouble "exiting" his investments, at lest currently - there is simply not enough liquidity. And that is not Dash specific - imagine someone selling 100.000 bitcoins for example if you think it is  And for Dash it would be "only" 100 MNs btw.

But those whales are investing and risking a commensurately "larger" sum in order to obtain that "faster" interest. Whats the difference, economically?  The opportunity and risk is there for any size investor.  How is that different than large miners who reinvest their bitcoins into more mining rigs to get more bitcoins?  They can accumulate the funds necessary to buy new rigs earlier than the small miner, which in turn allows them to be "faster" at finding blocks while the small miner stays the same.

OK yep that's what I thought then.  I do that through Splawik21 which reminds me he asked me to give feedback which I can confirm has been all good   I never used Node40 but I do know that Perry and Sean behind it regularly add tons of value in different ways from code to connections and are at the front in terms of innovation in our ecosystem.

I don't see it as a real problem then outside of the counterparty risk and loss of 20% profit on the coins not in your own node, besides MNs are just service providers adding value to the network. Without them, no decentralized services, we couldn't think of Evolution either.  Miners are the same, if the quantity of miners and hashrate was hypothetically static and they all invested rewards for securing the network in new hardware, their % of the rewards would stay the same too. 

There's faster compounding interest for whales since the wait time to setup the next MN is shorter. Yes, in theory one can use a fractional MN service to improve returns. In practice I bet it's not done very often due to needing to trust the MN hosting counterparty. And the 20% hit eats returns a little bit.

 

Out of interest, why do whales receive more coins which lets them setup more masternodes?  If I own 1 masternode or 10, my share of the supply is increasing at the same rate.  Do you mean the whales can get the next node faster? But i can just put the difference into a shared service and take a 20% hit which is not much different?

Just to correct a misunderstanding here: Do not rely on the Dashwhale App to get your payment information, as it has trouble updating and doesn't properly show payments that actually occurred. I realized that when I compared my Dash-Qt transaction history with the Dashwhale App on my phone, because it (falsely) shows one Masternode overdue to me as well. All my MN payments are within the usual timeframe and should be for you as well as long as your node is status "OK".

Since you asked, I'll give my 2 cents. (Pardon spamming the Dash thread here but I'll try to stay brief).
1. Lisk is a total wildcard. On the one hand, making blockchain apps easier to write via Javascript could be huge for attracting talented developers. OTOH, they are using delegated proof of stake (DPoS), which is crap because it promotes an incestuous insiders club. Delegate #101 gets a full subsidy with his 100 other buddies. Delegate #102 gets a big fat zero.
 
2. Waves has great potential and I think Sasha will deliver everything promised. But, the question is, will it matter?  To what extent can it attract end users? How to foment the 'animal spirits' that compel long term investors, developers, and users to action? I'm afraid, due to it being a pure proof of stake system, with all coins already out with no long term subsidy, it may follow the same rise and fall as NXT.

3.  Decred. I'm still learning about this one. On the plus side, lots of effort has gone into making Decred a full DAO. I do like that it's mineable. I do like that they have a hybrid PoW/PoS system somewhat similar to DASH. I don't like the fact that 10% of the mining subsidy goes to a centralized foundation, "Decred Holdings Group, LLC (DHG), a Nevis-based organization" according to their wiki. They need to fix this and make passing proposals payable to developers directly from the blockchain.

4.  ETH. Where the party's at, apparently. I think they are making a mistake to move PoW operations to PoS. Once again, moving from 'wild mining', as camosoul puts it, exclusively to an insider's club of staking whales, is a fast way to kill a lot of interest in your economy.  DASH has a little bit of the 'staking whale' problem too (where whales receive more coins which lets them setup more masternodes to receive more coins), but the concentration is less because 55% of the subsidy goes elsewhere i.e. to miners and developers.

I don't know most of those projects but from what i've seen there are very few serious dev teams in cryptocurrencies.  Bitcoin is one, Ethereum is another, although neither is in our market (macro payments / programmable transaction contracts).  

Our market is user's who want digital cash; money you can spend online/instore from any device without an intermediary. Implicit to that is users not having to wait or identify themselves if they don't want to which we have already and also not having to learn anything weird or go outside their comfort zone (easy to use).  

The goal sounds simple but there is a lot needed behind that and I haven't seen anything even trying yet (anything p2p that is...there are lots of currencies sending coins through some guys server and calling it decentralized or private but these obviously don't wash with mainstream users who are sticking with much better equivalents like PayPal/Google/Apple pay/Visa that are more convenient to use)

I would be interested if any other projects are aiming for our market too, if they are serious we could work together or learn / help each other. But I haven't seen any, apart from some awesome Bitcoin ecosystem innovators who's work has become really valuable for us to build on, but they're all stuck in Bitcoin, who's current dev team will never make the changes necessary to achieve a decentralized ecosystem and really let crypto take off - ours does though  

I've heard of ETH, but what the hell is a lisk, waves, decred?

Let's say hypothetically that you want to invest a lot of money in a cryptocurrency other than Bitcoin. Which one do you pick, the new hyped-up flavor of the month with God knows how many potential security holes, or a long-standing and established currency that has been around for years and undergone security audits?

Bitcoin fits both those descriptors, as does Dash. Eth fits one. The others...they fit none.

+100
Proof of work is very important. It is the key feature that gave Bitcoin its legitimacy, and was a master stroke from Satoshi. Proof of work invites participation (and competition) not seen in other currencies. Just look at the Dash mining subforum and all its activity. We have ASICs now! I'm still pinching myself that we have friggin ASICs from different vendors. That is where it gets serious, because real world capital investments have been made to mine just X11 currencies. ASICs provide security AND legitimacy.  

The proof of stake coins do not have a good track record. NXT and Peercoin are the poster children, having fallen out of the top 5, and struggling to stay relevant.

Now I have to get back on reddit and (politely) correct some of the noobs who think that masternodes are just nodes doing proof of stake. Nope, it's proof of service.  

That really depends on what you consider "competition", there will certainly be several networks that will have a role in the future of crypto. I don't know enough about the projects you mention to have an opinion on them but I think Dash success at this point depends primarily on Dash and maybe tangentially (for now at least) on the state of Bitcoin and the crypto industry in general.

I think Dash full node incentive program is a killer feature, it promotes participation and gives people a sense of ownership of the project. The incentives are better aligned and provides a way to generate income on investor holdings which in most networks remain idle.  The governance system and funding model in Dash also creates strong network effects and allows the project to pivot depending on changing market conditions, so Dash is dynamic and can adapt to a changing environment giving it greater chances of long term survival.

Dash's longer term plan is to create useful tools for end users and to foster an ecosystem of merchants and service providers, it has a plan, a team and a funding model to achieve that goal. There are still of course risks inherent to any business venture and we will see how the market evolves, but compared to what is out there at the moment I think Dash has a strong case to be one of the projects that survive long term.




Edit: I just wanted to add that Dash accomplishes this while still using Proof of Work to secure the blockchain (avoiding PoS) which is an important plus in my opinion. And only uses stake holdings for governance purposes but only attached to full node operation which I think is a superior way of doing it than just voting based on coin holdings without a direct network responsibility like masternodes.

DASH has some serious competitors...like LISK, WAVES, DECRED and ETH. What's your opinion?

thanks to all that answered to my question - and yes all were right - i guess i should have checked my rank in masternodelist - would have been good to know if it was just dashwhale which was wrong with the rank ...

Just received my payment    happy me

Tx alex 

The news is that we keep working and working while nobody pays attention.  And one day, when everyone wakes up, it'll be so big, you'll wonder why you slept!

LOL, seriously, the herd of cattle just run hither and thither and don't see the billion caret diamond, nearly finished being cut and polished, sitting in the middle of the pasture.  But that's ok, because with Dash staying low in price, more intelligent people can keep buying, spreading the wealth when things go BOOM!

This is NOT financial advice, it's the rambling cheer of a cheerleader (me!)  which does come from the heart, but is of questionable value, LOL

I got a lame twitter, but it's been tweeted   Cool!  I like your guy!  He'll have to put out an album after a few more, LOL

Just let it be and a payment will happen sooner or later. The time estimation when a payment should happen is just that - an estimate. I think that the counter can't predict correctly when the time goes over the average payout time and goes to 0. I have a Masternode that got paid after 11-12 days or so, actually it happens quite often. If your node is operating fine, then just let in run and a payment will be coming your way!

edit darn autocorrect