Topic: Is Dash a better alternative to Bitcoin? - page 7. (Read 23689 times)

Please if you can respond to my entire post and not just selective statements?


You say it is mentioned on "a far more important forum" - what metrics are you using to determine its importance? This other forum has a fraction of the members, posts and views than Bitcointalk.

I'm also not clear what specifically is preventing you from also mentioning it on the Bitcointalk forum as well. Why is it only mentioned on one forum? (the less popular one)

Dash has a far more important forum in use where it does get mentioned, is pinned at the very top
and is currently viewed 12028 times ...
See post #102




 

Are you speaking for yourself here or on behalf of others? Have you received confirmation from each individual Dash user that allows you to make this blanket statement?

Is there a dialog box when you download the Dash wallet explaining Dash was instamined and you must agree that you've moved on in order to continue the installation?

Please.. the instamine isn't even mentioned on the Dash ANN thread.

"direct competitor of bitcoin" - 

i agree, and i'm all for respectfull discussions.

That's actually quite fair, though I'd note there are certainly people with the 'outside' perspective who are not Dash competitors. While both of the above cited quoted are from me (which I used because I am more familiar with my own writings and I find them to be of high quality), there are numerous other threads, posts, and poll results where it is unlikely those expressing a negative view on the instamine are direct competitors. Especially because some of those critical threads and posts pre-date any of Dash's currently-active direct competitors!

Anyway, thank you for the respectful discussion, I think both perspectives have gotten a fair presentation here.

Appearently we have conflicting views on the matter, we have Dash's view on the matter which is explained in great detail and accepted by the Dash community
(who are the one's actually financially involved with this cryptocurrency) and we have the view on this matter by one of many Dash's competitors.
I will leave it with that 

There are always insider and outsider perspectives on anything, and a self-selected component to those are are insiders. In other words, you stated it one way, but the other way also applies: Those who don't care about the instamine, or who think it was a good way to launch a coin, are now involved with Dash; those who do care and do not think it was a good way to launch a coin tend to not be involved.

Such obsession with the instamine while Dash has moved on and so have their users. Fact is those of us involved with Dash
know about the instamine and just dont care about it anymore.  

For those interested in some facts about the Dash instamine  :

Date : 29 march 2014
https://dashtalk.org/threads/the-birth-of-darkcoin.162/



******* Number of times read : 11999 *******


Date : 11 october 2015
https://dashdot.io/alpha/?page_id=118




Date : 21 september 2015
https://www.youtube.com/embed/eEJKZjTx9Bg
time 7:26

I remember buying Dash (Darkcoin back then) in May 2014 at 0.025 & 0.026 BTC with BTC in the $500 range,
do i blame Dash or Bitcoin later on when they both dropped so much in price? No ... i take full responsebility
for my own actions as i was aware about the risks involved with cryptocurrency (central bank's around the world
issued warnings informing us about the risks after all).

Quibbling over whether dash qualifies as a premine or an instamine misses the point that some people want to avoid both and shouldn't have to look at the fine print to see that dash does indeed have a heavy front loaded mine that more than likely put a heavy percent of the current coins in the Dev's hands. This is the marketing equivalent of a food company putting sugar free on a product that has a large helping  of corn syrup--sure it's technically correct, but that won't stop someone from diabetes from suing your company for their lost foot or a mother who wants healthy kids from boycotting your products once they realize the truth behind your claim. It's this type of truth of advertising failure that gives cryptos a bad name. Put it in your media or stop claiming, "no one cares," because if you believed no one cared you wouldn't go to such lengths to keep it out of the headlines. All we get is Evan's justifications in a weak attempt to make it more palatable.

If you really thought it didn't matter, you'd put it on your mast head and not think twice--because, as the dash consensus claims, "no one cares."

Do not be surprised if this get deleted--though it is very much on topic on why dash is a horrible alternative to Bitcoin.  

thanks for clarifying that, its an interesting topic.
edit : and i got a bit wiser about MMM .. thanks for the links.

This is incorrect. Mining means there is an ongoing supply of new coins that need to be paid for by someone. If the miner keeps them then the miner is paying (i.e. putting in new money) with mining costs, otherwise someone else needs to pay money to the miner to buy them. If there aren't enough buyers then the price will drop until buyers show up. If no one wants to put in new money then the value would in fact drop to near zero.

Whether this meets the holistic definition of ponzi scheme is another question, but you can't deny that new money is need to sustain price in a mined cryptocurrency, because it is.

Anyway, what I was asking about was not whether BTC (or Dash) is itself a ponzi scheme, but whether the current price gains are driven by a rather large external ponzi scheme that is using BTC. The existence of the "MMM" scheme (which has by now become large enough to span several countries) is not in question.

Here is their youtube channel: https://www.youtube.com/channel/UCzQPrNRVBh6hYOE6uINRHRQ

Here is their founder talking about Bitcoin: https://www.youtube.com/watch?v=gRVhYWxhsNI

yep, its always wise to diversify one's investments....

There is no case of premine with Dash .. blockchain proves that.
Please research the definition "premine" a bit more.

DASH is not a complete alternative but to invest into DASH besides Bitcoin is not a bad idea. i bought some BTC and DASH to distribute my investments.

When there are serious doubts that dash was secretly premined and its dev holds half of the premined coins, dash is unable to be a better alt to BTC.

http://bitcoin.cex.io/is-bitcoin-a-ponzi-scheme/

What is a Ponzi Scheme?

In short, a Ponzi scheme is a form of financial fraud where a centralized entity takes on investors and then pays those early investors returns from a new influx of investors who come into the scheme at a later date. Most Ponzi schemes offer unrealistic returns for investors until there are no new investors who can be duped into putting their money into the scheme. One of the most notorious examples of this type of investment fraud was recently pulled off by Bernie Madoff. His investment company was exposed as a Ponzi scheme after the financial collapse of 2008 when many of his clients felt like it was time to pull their money out of the Madoff fund. This form of financial fraud is named after Charles Ponzi who was notorious for pulling off these kinds of schemes back in the 1920s.

Does This Argument Apply to Bitcoin? (or any other cryptocurrency)

Now that we understand the definition of a Ponzi scheme, we should be able to decide whether or not the name should be applied to Bitcoin (or any other cryptocurrency). The first thing that should be noticed when it comes to Bitcoin as a Ponzi scheme is that there is no Charles Ponzi or Bernie Madoff involved with Bitcoin. In traditional Ponzi schemes, there is an initial collector of funds who promises great returns without much explanation as to what is being done with the client’s money. With Bitcoin, there is no central entity that controls Bitcoin or touts it to new people on a daily basis. The support for Bitcoin was created in a completely organic manner, and there is no individual making investments on behalf of the entire Bitcoin community. Each person is purchasing bitcoins on their own accord, and there isn’t some organization or person controlling all of the money.

In addition to there being no Ponzi behind Bitcoin, there is also no scheme. In a Ponzi scheme, the idea is that you always need new money to pay off old investors. Contrary to the way things work in a Ponzi scheme, there is no need for new investors in Bitcoin. If the number of people speculating on the price of Bitcoin stagnates, then the price will simply remain around the relatively same level without crashing down to zero. There are no payouts that need to be made to Bitcoin holders on a regular basis, so there is no way for a scheme to be exposed.

Dash cannot avoid it's price being driven to unsustainable levels by a ponzi scheme. No coin can by itself. Only when the Ponzi cannot continue when it grows too big, it will collapse.

It was a question.

What do you think?

If Bitcoin's value is significantly inflated by its use in a large ponzi scheme then perhaps Dash is a better alternative after all.

How would Dash avoid it's price being driven to unsustainable levels by a ponzi scheme?

Why are you asking Smooth to explain what someone else wrote--and he's questioning himself? Or are you conflating the two*?

*Actually three! It seems you are conflating Hueristic's bubble comment, the comment Smooth is asking about from the WO thread, and Smooth's own opinion via the Monero Speculation Thread.

How is pointing out his agenda, motive, and horrible investing skills off topic in a Dash thread where he is giving his opinions on Dash? To be informed of the background is important for readers to form a balanced view on the matter.

Instead of making more meta discussion posts in a Dash thread, click the "report to moderator" link on the posts that are offending you with their off topicness.



Making one post in this thread commenting the subject is hardly obsessive. Only after you choosing to reply out of context with a red herring I was forced to clarify the original point. If there is someone obsessed here it is not me.



Meanwhile in another thread:

So in this thread Bitcoin's innovation is rewarded by the market, and in Monero thread it's a ponzi bubble?