Topic: [DASH] Dash - Building the IoM | Dash Nation Progress Thread - page 28. (Read 41794 times)

Nice to see you're input icey, even if you're living in the past and hung up on the old idea of crypto being entirely on the blockchain, it's all about what you can do with it these days and Dash is way ahead of these old ideas of the chain being the only layer. Tiers, the blockchain at the bottom providing a rock solid foundation with the tiers above secured by it and providing advanced features. Maybe you'll get it one day icey, probably around the same time the vaporware mining hardware you where selling is delivered

EDIT: For anyone interested, check icebreakers role in hashfast mining hardware, the agenda behind his posts will be pretty clear after seeing how he treats his customers. While there the role he's played in disrupting progress on the Bitcoin blocksize issue should become fairly obvious too, get familiar with him and his cronies and you'll find they're just about the best contrarian indicator on this forum.

Dash has already defined itself.  Here's the definition:

Oh wow, that's something else! I think I get it now. That's way on another level. Those guys definitely should try again to get their project funded!

The competition for DGBB funds will only get more intense...

If you've ever traded on an exchange then you understand it.

Where do you think the liquidity comes from to trade when you're on an exchange ? Not from the blockchain.

The exchange creates it for you as a credit to your account. Think of the exchange therefore as a small decentralised economy that could not function without the "flow money" that the broker creates.

But exchanges only deal in already existing value. What happens when new value is created ? How does that get monetised ? Where do you get the liquidity for an economy to function on an ongoing basis as wealth is being created ?

One way is to simply chalk up the number of "work days" you've done this week on a tree. Those chalk marks then become potential monetary units which can be traded for goods and services because they denominate your own "value delivery" into the economy. (The chalk marks therefore represent the 'flow money' in your micro economy).

In the real economy, you get paid a salary - not with money that existed a year ago, but with flow money that is constantly being created and who's liquidity is underwritten by the ongoing societal work in progress. But it needs to have a capital base - thats where your base money comes in. The blockchain tokens.

Suffice to say, if one hasn't got a "flow economy" to underwrite with one's shiny new tokens, one ain't got zip in terms of adoption cos thats all base money is good for. Simple "paying for stuff" on the other hand, can be done with numbers in any denomination regardless of blockchain performance or characteristics.

 

I don't really understand the proof of labour proposal either. Thank you so much for your kind words! I hope your knee feels better. Mine are kind of banged up, too, from sports injuries.

If one were disillusioned with Bitcoin, why wouldn't they just put their money into Ethereum?

Coingun provides us with the answer:

https://www.rebelmouse.com/dashnation/why-should-bitcoin-1689564320.html

#DashNation #IoM

It sure can.

Not least because of the ability to support a non-denominated transport medium for value that competes with the Lightning Network by virtue of a far higher performance settlement layer *.

* a settlement layer with authentic monetary properties that match the best of those of the last 5 millenia

To spatula, I think that with the DAPI, Dash can be a direct competitor to Paypal (easy of use, with login/password you can send money here and there), with less (or no)  fee.

Thanks again to all who are reading this thread and allowing positivity and facts to prevail over spin and innuendo. It's plain to see that Dash is a serious project, a champion of decentralization, the leading candidate to be the digital cash that Satoshi envisioned, the Internet of Money.

I ask you to join us in Dash Nation.

Cheers,

Tao (Dash Nation Campaign Founder)

Cheers Any chance of expanding on that a bit? I should have been following how things are going but lost track.

No joke, Dash has passed the point of too much happening to keep track, every month there's a new wave of budget proposals adding to that and some of those projects are hiring:
https://dashtalk.org/threads/python-and-javascript-developers-wanted-27k-in-bounties.8654/

Payment processors are probably the most prime candidate for this type of functionality. Easily accessible payment verification will be a huge advantage for Dash in terms of ecommerce growth. I've come to think of Dash as being the "WWW" to Bitcoin's "TCP", take that as you will ;-)

I thought Justus Ranvier put it really well...every feature that bitcoin could adopt is good but you have to ask the question "good for whom" ?

I've seen very few people in this whole debate lay out such an informing and unbiased account of all the various priorities. In fact, I'm gonna have to watch that again.

Here's the thing that I've been trying to raise more discussion about, both here and in other places: There are 2 aspects to this:

[1] - scaling the blockchain
[2] - scaling the money supply

These need to be treated distinctly and I think thats what confuses people.

As far as [1]-scaling the blockchain goes, there's no amount of native scaling you can do that can ever meet the capacity or functionality requirements of a mature economy that uses your currency as a denomination. For example, just take the cryptocurrency exchanges of today. All trades are instant, regardless of the performance of the respective blockchains of the currencies being traded.

Another example is retail.

Retail is always gonna use "off-chain" transaction handling simply because it's an application in its own right. e.g. a Supermarket has a great big SQL server in a back room (or data centre) connected to the cash tills at one end and the Visa network at the other that's capable of all kinds of stuff that a blockchain just is not equipped for. Things like instant reversals cos your cornflakes got rung through on the other customer's bill, discounts, store card stuff and wotnot.

To me, Blockchain scaling and performance is more about consolidating the monetary properties of an electronic asset, not supporting POS networks.

Next we have [2] - scaling the money supply.

This is more about creating 2nd and 3rd monetary tiers (in the fiat world these are the credit tiers which basically form 80% of the money supply, in other words, the main part of it). These tiers are the "promissory notes" that Justus Ranvier was talking about.

Clearly, higher order monetary tiers are instant by their nature (because we're just talking about moving numbers around, not blockchain transactions). Any level of adoption will naturally result in the growth of these additional tiers - thats just how all economies work - so scaling kind of takes care of itself in that respect.

Thats why I think the point at which you scale the native blockchain to is largely arbitrary. The thing that's important however IMO is that its universally accessible (in the way that - even though I've got all my money in a bank account, I can always get it in paper notes to hold in my hand if I want). Thats the minimum level of scaling that a blockchain needs IMO. (i.e. that you can access it directly with a wallet client as you can today, without dependency on a 3rd party).

Blockchains don't have to handle (and probably will never be asked to handle) realtime commercial trades to any industrial extent, any more than the bank clearing network does today.

Lol, cheers Tao Useful links, I might have to put the cryptonote one back in there sometime too. I used to put really good quotes from other forum members in it, should be able to go back to that before too long


Nothing mentioned in it but a lot of the stuff from Evans post on prioritization of fiat gateways should be able to plug into the DAPI and then access to those services would be possible too all users on the network.
https://dashtalk.org/threads/prioritization-of-fiat-gateways.8457/

He'd mentioned something along the lines of the features in the next version of the governance system being available to users too, for decision making and managing funds in other projects or organisations,. That's more part of the network than a third party service but it should be possible to have that kind of interaction between users and services.

No brainer 101 

One thing that's really making me quite happy is the Digital Cash stability price wise, as a true solid currency should be while maintaining money properties 

I must say, Stan, I really love your signature. Really provides insight on what used to be allowed to happen here on this board.

Can you give some examples of what you think the DAPI will be used for? I'm sure there all kinds of uses that I can't even think of as this is brand new technology.

I'm certain it was to cause me mental distress It was bugging me for days the last time he posted it so thank you very much for solving it


Services on the second tier seem to be getting strong interest. The DAPI is allowing all kinds of things that where impossible for a distributed system not long ago, traditionally centralised services running on a distributed platform.

I couldn't even try to figure that out! I guess that's why you guys call me a "dummy"... 

Once you think about how much faster Dash is to use than Bitcoin, what would you choose?

I buy the potential within Dash, its growing in every direction