Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 906. (Read 9723733 times)

Interesting view, specially the 7 steps in a market cycle that Chris Dunn talks about and which can apply to any cryptocurrency...I strongly advice newbees that are relatively new to cryptocurrencies to watch it.

Guys, none of these work for me.

I am trying to implement dash transaction notification whenever balance on an address changes and I don't see function to get transactions from address;
I need get transactions from address to notify for user; the site itself is a work in project in here:
https://addresswatcher.ymsolution.com/public/auth/login

Cool, thanks again qwizzie!

I think it just depends on what you define as "money" and what you define as "credit". The two are so interchangeable as to be indistinguishable today. Almost all modern money is created by the credit markets.

Maybe we both need to read this.


Well that makes sense with the Dash thread being one of the few on Bitcointalk that's not populated by adolescent children   A Bretton Woods contemporary ! Congratulations - now I understand your monetary philosophy  

I see the phenomenon of credit inflation beyond the base supply as a 20th century thing, fueled in part by dramatic population growth in the Americas. I see it as inherently unstable. I see it as a phenomenon that will slow and end over the next few decades, probably sooner rather than later, and with dramatic unintended leverage damage as it unwinds.

Nothing against the rest of the post but Dash indeed sounds like a laundry detergent. I embarked on the darkcoin boat and was not happy with the change. Converted 50% of DRK equity to bitcoin when the re-labeling happened. Still believe with DRK the marketcap today would be much higher.

Would have been great to have the self-governance back then ;-)

Ok, you have a point there. Dash's articulated protocol does indeed provide transaction support 1 tier back from the mining protocol, so I'll keep an open mind on how adaptable that may be. The DAPI layer that Evolution introduces a further level of abstraction that will facilitate an even greater diversity of options.

However there are still two aspects of targeting cryptos for merchant adoption that are highly unrealistic in my opinion that I'd like people to keep in mind.

1 the fact that a payments system is primarily a facilitator for a product sale, that's all. The business processes associated with the product sale have a far higher priority than instant clearing and IMO have conflicting priorities with those of a blockchain

2 the whole idea of using bearer instruments to pay for goods and services is positively medieval. It's only needed in a very primitive economy because it basically amounts to a form of barter.

Advanced economies quickly evolve organically beyond using base monetary tokens to a secondary financial "tier" or credit tokens which are far more efficient, flexible and fungible. I keep coming back to the idea of exchanges and some people don't seem to get the point. Why do exchanges not use blockchains to facilitate trades ?

If I asked you right now how many Dash are in circulation (including MN collateral) what would your answer be ? You'd go and look at coimarket.com and tell me there were 7,017,804.

But that's not true. You'd need to add all the Dash-denominated exchange liquidity to that number which would take the total to something approaching 8 million maybe. I know you're going to say that the exchange token simply acts as a proxy for the deposit while you're trading as they are backed "1 to 1" but that's not true either. The exchange token is actually independent of the blockchain token and the two are only connected by a contract of debt between you and the exchange where you are the creditor party. While you're busy trading your Dash denominated exchange token, the exchange can be using your blockchain deposits as it sees fit (as does any bank). They can be invested in masternodes, re-lent out, whatever.

Thats the thin end of the wedge. In this way the "Dash" economy is growing an economic monetary tier on top of the base blockchain token tier and this will typically continue until the "credit" tier dwarfs the base money supply. Thats what happens in a mature economy. The amount of credit money in circulation right now dwarfs the central bank monetary base - it just happens naturally.



P.S. This is why my view is that obscuring blockchain properties in order to "preserve" privacy is a very stupid idea unless you're only intending it to have a role as a payment system. If it's really going to be used as a currency then the economy will quickly mature to the point where most trading is carried out off-chain and where your anonymity is dependent on the particular payment system in use. So, in that regard, the base money supply that backs everything else benefits far more from transparency than it does obscurity because nobody's using it for transactions anyway, however it's of supreme importance that confidence in the base capital asset is supported to the max.

I've been arguing this point with the Monero people lately and they don't like me pointing this out. They say that I am engaging in "inane hand waving" and making a "deluded attempt at economic theory". But it's not economic theory, just plain observable facts. Even 99% of the entire volume of trading in Monero last month took place off-chain, not using their wonderful Ring-Sig system and depending totally on Poloniex's privacy support and not Monero's. Despite that their blockchain still had to sacrifice the open accountability, user symmetry and transparent fungibility that an open blockchain brings.

Not a very good deal.

One doubt about this:
easily reversible (if the cashier rang my brussel sprouts through on the other guy's bill by mistake they should be able to credit them and charge me within a few seconds)

Do we know if Dash evolution, contemplates some mechanism or technology?

Thank you

Heh - I was just being flippant, but I didn't know that about Boeing. Apparently it's controversial: http://metricviews.org.uk/2007/11/boeing787-grounded/

When to accept change and when to dig in - always a challenge. Dash vs. Darkcoin - the trolls had a field day with that one - I remember "sounds like a laundry detergent", as though that were a terrible thing.

Living in Canada, I got used to metric a few decades back (Trudeau the elder) but some people never made the change and probably paid a price in job opportunities, peace of mind, and so forth. They will die off in time and those going through K-12 here will know only metric as normal.

Patterns, patterns, patterns. History doesn't repeat itself, but it rhymes. Now about that credit market system.          

LoL ! I was the other way around.

When I was at primary school the Wilson government committed itself to metrication and we learned everything metric. Then the society was too stubborn and they couldn't get enough shops and companies to stop using pounds, yards and ounces and they rescinded and made it optional. So my generation grew up with a whole load of decimal stuff that was useless in a grocer's shop. We barely knew what an ounce was.

The UK's just getting round to it now.