Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 2082. (Read 9723776 times)

BUMP

CCN Podcast #10 (Week 26)Evan Duffield from Dash on Decentralized Governance & the Block Size Debate

https://soundcloud.com/cryptocoinsnews/ccn-podcast-10-week-26evan-duffield-from-dash-on-decentralized-governance-the-bitcoin-block-size-debate

btw. heard that 3 times already and I really like it!

Bankers are on the hook, for making bad loans.  Governments should NOT protect banks who make these loans via taxing (or diluting value to the currency of) the people.  Banks should not be too big to fail.  Unfortunately, you are correct as well, because Governmental policy encourage banks to loan where they shouldn't.

In the end, it just has to stop.  I suspect Banks will take the hit and governments will ease the pain somehow.  Greece has to be released from the grip of debt to ever have a self sustaining economy.  A self sustaining economy will support the euro zone and make Greece a positively contributing member of the Euro zone.  Look what happened to Germany when debt was forgiven/removed after WWII.

I don't get it.

Greece borrowed money from others, now they are keen not to pay it back?

I'm sure there are many complications, twists and turns, etc. But, as far as I can tell, someone is on the hook if Greece don't pay. Ultimately, that someone is tax payers elsewhere.

Probably an unpopular notion.

Thanks for the great explanation there Tante, I appreciate you putting time into helping me understand the dynamic. Makes sense when you think about it, wasted hash is no good to anybody. Really cool feedback mechanism.

Many thanks,

Walter

Thanks Tungfa, what are the reasons for the drop in miners? Does anybody know?

Thanks

Frankly I am shocked that monetary priorities prevailed.  I can only suspect that it's because the Euro zone's power is still distributed and not centralized.  The United States' monetary policy has been thoroughly centralized for over 100 years now, therefore political.  I know it's hard on Greece, but it's better than going deeper and deeper into debt.  I think the Euro banks are eventually going to have to cut their losses, Greece will have to pay off some of the loans but must be allowed to grow as well. 

Like I said, I'm shocked they're apparently doing the right thing!

Well, our hash rate has been dropping a bit, so the payment algorithm has popped up above minimum.  The way DASH works, the higher the hash rate, the lower the payments.  If hash rate drops, the payments go up, encouraging more hash.  For most of DASH/DRK's life span, the hash rate was so high, we hit minimum payments.  It's interesting to see the hash rate go down (probably due to the shared rewards making it less profitable to mine).  But this is Evan's genius.  Rather than have excessive hash rates, he created a feedback system that provides higher rewards to encourage more hash when the hash rate falls.  I don't think Evan expected the hash rate to be so high that we would hug the minimum payments all this time, but who knows?  Maybe he did?  Anyway, Evan had a philosophy that permeates all through the DASH project, of everything finding it's balance.

Mining hash rate has been speculative all this time.  Miners have been mining at a loss, and now more so because they have to share in the rewards.  Some miners simply wanted to support DASH but most miners want profit.  Slowly, we are getting to the point where miners must get a small profit or stop wasting electricity.  In the future, the price of DASH will drive the hash rate.  The hash rate can be seen as a health index, but really, most of the time it's indicative of so much power being wasted, way beyond what is needed for a healthy network.  This is a main environmentalist complaint.  Dash actually encourages lower hash rates, yet encourages more hash rate when it drops too far.  Very interesting concept that was basically the first experiment of the project Xcoin/Darkcoin/DASH   And finally it's coming into play!  I was afraid we would hug the lowest reward rate for the rest of DASH's history, but nope, it's actually starting to do it's job!  How cool is that?

Holiday Check List:

 

Greetings DASH community!

A new DASH multipool has just been launched at dashminer.com

If you have AMD GPUs, please join our pool to get some decent payouts.

Our pool pays 1% of daily income to DASH donation address to support DASH software development.

PS: If you have some recommendations on pool promotion - please let me know!

Thank you!

Hey Community
We are looking for writers for Dash PR activities !!

I am in serious need of help in this department !!
We have a bunch of good ideas, just have to get them onto paper.

Please ping me on DCT
or email me direct at [email protected]

No pay, tipping only
 

Thank you very much

Estimated Payment per Masternode: 0.84 DASH / day
http://178.254.18.153/~pub/Darkcoin/masternode_payments_stats.html

less miners
higher payouts

Wow - I just had a MN payment of over 6... Obviously I'm not complaining but how come they're so large at the moment?

Walter

Anyone else having issues with depositing DASH to Bittrex? I deposited a small amount at the 25th, it's still at 0 confirmations and unconfirmed. What could be wrong?

EDIT:
Nevermind, guess I closed my wallet too quickly. It's confirming now, problem solved!

masternode limist surely at total coin in circulation limit / 1000, but 3000 Mn is considered optimal.

The only limit is (the existing coin supply / 1000).  This will never happen though. 

That was a very interesting bio !

I remember the PB100 - I think those were the very first laptops Apple made with those gray, ribbed plastic cases. (Ooops, forgot the Mac portable from 1989).

Funny how the only 2 parties being realistic about the Greece agreement are the Greeks and the IMF, despite being on opposite sides of the negotiating table.

Q. What do those 2 parties have in common that the ECB doesn't ?

A. They can't print their way out of the problem.

That's why it's been the IMF that brought this problem to a head. They want their money back and have a "proper" monetary agenda. They looked at the proposals and were genuinely interested in whether they could work or not because they knew that the only way they were going to get paid was if real value emerged from the Greek economy.

The ECB, on the other hand have a political agenda - even thought it's illegal for them to have one - which is to keep the Euro intact. If Greece needed another few billion to keep their banks from collapsing while the talks carried on, it was just a case of printing it up and hanging it on the peg of future European taxpayer's earnings.

What Has This Got To Do With Dash ?

It shows that in financial systems, genuine monetary priorities always prevail over political, technical or pseudo-monetary ones and should therefore serve as a critical design requirement when creating a new monetary medium.

Dash has stuck to this principle. It has not ventured out into "hide the blockchain" nonsense in pursuit of a superficial pump. Instead, all the technical development has rigidly focused itself on 2 very specific objectives:

[1] - Monetary integrity (by addressing the missing monetary property in bitcoin - fungibility - without forfeiting any of the transparency of bitcoin)

[2] - Sustainability - without dependence on external funding. Dash has enough interested parties already to hold the currency long term so that it can now start to grow through secondary stages such as retail adoption, blockchain funded development and community promotion.

The implications of tonight's developments in the Eurozone (and in particular, the stance taken by the IMF) for Dash are huge  They demonstrate that monetary
priorities prevail over political or commercial ones and that monetary analysis (not cryptology) should serve as a requirements basis for new monetary media.

I don't believe there is a limit.  If you have 1000 Dash or a pool of 1000 you can spin one up.

With the masternode limits, does that mean that once there's a certain number of MN's operating, that no more can join?

I recently heard that bitShares has funding on the blockchain and is now used to vote and spend on moving the protocol forward.   Anyone familiar with that and how it compares with the Dash's method?   Lessons learned?    

..and for comparing to LTC/BTC.   One of the hurdles will be the order book.   We need to pop in price so we can move $10k without moving the price 10+% or we need to drop in price to increase volume.   The volume that LTC/BTC have is staggering at times and that shouldn't be taken for granted.   Doge took the low price, high volume, huge coin cap.     I still think splitting Dash 1:10 or even 1:100 would do great things.   Make the current price $.03 and cost of a MN be 100,000 Dash.     Market cap would stay the same, volume would surge.

Just thoughts.  All is well.  Once LTC pops again, I'll move it to Dash.  =)

Oh yea,  and GOCoin uses BTC/LTC/DOGE.      Curious what it would take to get DASH added.  If BTCe only takes $$ to add coins,  figure that price out and put it for a vote for funding.

ok,  night all!