Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 138. (Read 9723733 times)

My view exactly. i just wanted to know what the motivations would be for those advocating a re-denomination. Which seems to be easier Dash pricing and better marketcap (?).
I then became curious what that better marketcap would look like for Dash, with a three decimals re-denomination. Turns out there is no marketcap increase at all.
Truth be told i was informed that this was put on a back burner and is just coming from a group of masternode operators, not directly from Dash Core Group.

1 old dash = 1000 new dash....how about 1000 new dash become a masternode too? masternode instaminers profit down?---> will not pass LOL

you see they rather re denominate than re masternode.

comparing % mined?


remember dash original supply? 84 million and reduced to 18.9 million hehe

after millions were instamined and POS in masternodes...yeah 51.31% dash mined but most coins that will come out are masternode rewards..let that sink in  

If there is no real consensus for this then it is a non-issue as far as I am concerned. Personally I just do not understand why anybody would be in favour of (or advocating for) redenomination when it comes to Dash because there is no real need to do it with nothing clear about what is to gain from it. If in the future there is a need to consider this it makes sense to discuss all options but right now there is no need, no case and no consensus to go as far as redenomination.

Understanding the Improvements of Dash Platform v0.15



The organization working behind the scenes to improve Dash (the Dash Core Group), continues its usual tradition of releasing updates with new functionalities every six weeks with the release of v0.15 on Evonet! Under this schedule, v0.16 is expected at the start of this year’s 4th quarter (between Oct. 6th and Oct. 20). In order to prepare for this latest update, it was necessary to wipe the entire Evonet blockchain and start fresh with the new parameters. As such, decentralized application developers had to back up and remove their data from the network and will reinstate it after the update.

In a statement issued by the company concerning this process, DCG stated that “while the approach is fine for early testing, it is not appropriate for testnet and mainnet. To handle different versions of data, nodes, and clients all working in coordination, Dash Core Group developers introduced versioning that allows for the smooth roll-out of breaking changes without affecting user experience”...

Read more: https://www.dashnation.com/media/news/understanding-the-improvements-of-dash-platform-v0-15/

Thanks for reading!

It would need to go through a decision proposal. Outcome would be difficult to guess. This is not about masternode operators / masternode owners being able to call themselves millionaires in Dash.
Personally i am against re-denomination. For some reason it comes off as very manipulative and seems to challenge the immutable character of cryptocurrency.

Marketcap = Supply x Price

Current situation

Dash : 9,700,739 DASH Circulating Supply  & Price  : $75.78
Marketcap : $735,122,001
Mined : 9,700,739 DASH / 18,900,000 DASH x 100 =  51%

Three decimals shifting

Dash : 9,700,739,000 DASH Circulating Supply  & Price  : $0,07578
Marketcap : $735,122,001
Mined : 9,700,739 DASH / 18,900,000 DASH x 100 =  51%

I know it is hypothetical but what would the consensus be on that if it were to happen?

There is a fine line between the balance of keeping investors happy and keeping masternode operators happy while trying not to tilt towards favouritism to one over the other.

3 decimals shift would make masternode owners millionaires (in DASH), over night. Now there is a thought.

1 old DASH = 1,000 new DASH
1,000 old DASH (masternode collateral) = 1,000,000 new DASH

Thank you for replying to all my questions.

I believe the answer to those 3 questions is no... this is simply moving the decimal to the left, much like DOT did (it moved its 2 decimal places).

Let's say a cup of coffee is $2.70 USD... currently that's about 0.03563885 DASH

Would it be easier for someone to understand.... that coffee will cost you 0.03563885 DASH or that coffee will cost you 35638.85 DASH?

The above question correlates with the proposal from github where 1 old DASH = 1 million new DASH... https://github.com/riongull/notes/blob/master/dash_unit_denominations.md

I suggest people read it and see that the Bitcoin community also discovered and explored possible solutions to this problem but couldn't agree on anything since they lacked any form of governance.

Personally, I think it might be a better idea to shift only 3 decimal points instead of 6, so the above coffee would then be 35.63885 DASH

Still 5 decimal places might be difficult for non-technical people but perhaps a further shift in the future could be explored as DASH grows in value. Shifting the decimal 3 places would give a maximum supply of about 18 billion instead of 18 million. Notice how many coins that DASH has lost position to on coinmarketcap actually have supply counts in the billions.


I think they might be exploring this as part of the Platform launch to mainnet... but I don't know for sure.


Good questions that warrant some good discussion.

I think allowing more people to own whole units of DASH will help with decentralization as it will get DASH in more hands.

Who would rather have 0.0034 over 3.4 of something?

You should have invested in a stable coin then. They revise their supply far more regularly and faithfully in response to demand than Dash ever would (or could). In fact they actually target liquidity demand (which is what you're proposing to address) as a priority over everything else.

As a bonus, they don't lose value like Dash does  

Would a redenomination increase our max supply of Dash ever to be mined ? (currently estimated at 18,900,000 Dash on page 1 post 1 of this Dash ANN thread)
Would a redenomination affect our percentage already mined Dash ? (currently at 51,31%)
Would a redenomination break our emission schedule / our social contract ?
Would a redenomination be something Dash Core Group is likely to support ?
Would a redenomination affect Dash store of value?
What risks are there with a redenomination ?

Yea, I've been thinking this for years -- Lets do it!  =).     This is all one big ass experiment anyways!

Cool... nice to see I'm not the only one who sees total supply being only in the millions is not only a problem for mass adoption but also coinmarketcap ranking... and also the problem that 1 DASH is even now too expensive compared to other coins especially for newcomers.

While I recently presented an idea of re-denominating 1 old DASH to 100 new DASH... seems this presents something even more extreme, 1 old DASH to 1,000,000 new DASH (or 1 new DASH = 100 Duff)...

I was only able to skim thru it for now, will need to read it in its entirety when I get a chance.

Dash has launched the FastPass network initiative, an accreditation that recognizes platforms and services within the trading ecosystem that have an enhanced user experience for Dash through the integration of InstantSend or ChainLocks. This functionality enables users to deposit, withdraw, and trade Dash with unparalleled speed and security.

Introducing an Enhanced Trading Experience with Dash FastPass



Traders are always looking to gain an edge in the highly competitive digital currency exchange scene. Often decisions are made in seconds by human traders and microseconds by trading bots. Timing is everything, and time lost in either direction of a trade results in a less than efficient, sub-optimal financial result. In short, time is money, and delays result in money being left on the table.

To gain an advantage against their peers, traders have employed various techniques. They try to use exchanges that offer a higher level of liquidity, they design trading bots that are consistently gauging market sentiment in order to make micro-trades that add up to financial gains for the builder, and they've tried to use digital currencies for inter-exchange trading that arrive at their destinations in a short time to take advantage of arbitrage...

Read more: https://www.dashnation.com/media/news/introducing-an-enhanced-trading-experience-with-dash-fastpass/

Thanks for reading!

More then 96% of Monero is already mined. Of course they have higher marketcap, because they have more coins in circulation then Dash and are now very close to their maximum number of coins (18,4 Million XMR). And Monero only has a slightly higher price by the way.

Link : https://cointelegraph.com/news/with-90-percent-of-monero-mined-attention-turns-to-tail-emission-from-2022

Monero : 17,692,702 XMR Circulating Supply  & Price : $84,45
Dash    : 9,699,159 DASH Circulating Supply  & Price  :$75,36   
Bitcoin :  18,484,581 BTC Circulating Supply  & Price  :$10,316
Source : coinmarketcap   

17,692,702 XMR / 18,400,000 XMR x 100 = 96,16% of Monero mined
9,699,159 DASH / 18,900,000 Dash x 100 = 51,31% of Dash mined
18,484,581 BTC  / 21,000,000 BTC x 100 =  88,02% of Bitcoin mined

Although 5 years younger as a project, Monero (2014) already mined way more coins then Bitcoin (2009) !

Marketcap = Circulating Supply x Price

Monero Marketcap : $1,494,148,683
Dash Marketcap : $730,928,622
Bitcoin Marketcap :  $190,686,937,596

No magic there.

Question is : do you really want to be in a coin that is mined close to 97% already in such a shady way? (crippled mining hardware at start etc). A coin that will be 100% mined in May 2022 ?
How secure will the network of such a coin really be, when there is such little incentive for miners to mine those tiny blocks (tail emission) after 2022  ?

There IS huuge diference. Unfortunately.
And we all can agree that our perception is different. Monero has DOUBLE the marketcap value and much higher price per coin despite being technologically inferior ( as you say Qwizzie ) so problem lies ...hmm...let's se... uhm Qwizzie do you know? Ah yes, you do not see problem. you have more DASH every day.

According your link :

Bitcoin Cash : -94.02% Down from ATH
Marketcap : $4.19B

Dash           : -94.89% Down from ATH
Marketcap    : $741.73M   

What matters more for people : price or marketcap ?

If people just look at price then there is very little difference between the performance between Dash and Bitcoin Cash. Both coins dropped close to -95% in price during this bear market.
If people just look at marketcap and rank (like you and AzzAz are) then there is huge difference between Dash and Bitcoin Cash. A huge difference that seems unrelated to the actual performance of each coin.

I can't really do much with a huge difference in marketcap, when that seems unrelated to the actual price performance of each coin.
You base everything on it. You build a whole market theory around it.

Fine.

Go here, switch "Views" to "All Time High", sort on "From ATH" column, try to find Dash. I make it ranked around 88 on that basis.

Talking about flash in the pan, did you guys knew that certain Dash community members were also considering a Dash redenomination ?



Source :

https://www.dashnation.com/media/news/breaking-down-dashs-treasury-adjustment-options/
https://github.com/riongull/notes/blob/master/dash_unit_denominations.md

Any thoughts on that subject ?

I certainly can dismiss the marketcap difference because i don't rate coins purely on marketcap. I rate them also on % Down from ATH.
Which i think is a better way of comparing coins, then just focusing on marketcap and rank alone (like you and AzzAz do).

Marketcap, Rank, % Down from ATH are just a few factors to take into consideration. There is also number of active addresses, traded volume, number of transactions, project development, project adoption to take into consideration, when evaluating crypto projects. Which are totally skipped as well, by you and AzzAz.
You two are (over)focusing on marketcap and rank.