Topic: Who or what moron is buying dash at these prices - page 2. (Read 3496 times)

... and shoved it down a lot of people who pay a lot of money for it with which he buys propaganda for even more.  That's what makes him a genius.  Not many people can pull that off.

A genius who made an 'accidental' mistake instamining 2 million+ coins for himself upon launching his shitcoin.

The problem is that nobody knows when they can just sell all and drive the price back to what it was months ago, or maybe even under that amount.

There are many investors at the moment coming in and buying as much as they can. In case this happens and turns out for Dash to be an actual scam, it would be a disaster for a lot of people. We have to be very careful about it.. I have seen tweets from important people saying that were saying a dump is incoming, it's not about if but when.

No, he is a genius that knows perfectly well how to "mine the investors", and how central control is way way more efficient than decentralized consensus.


Is not a PoS coin, so this doesn't matter.  There is no centralized tumbler system in monero. There's no fake voting system in monero.  And yes, development is OPENLY centralized in monero: there's a hard fork every 6 months or so.  And there is tail emission.   And there wasn't such a huge premine. 

In monero, maybe devs have a big stash, but that's about it, and it will not come to proportions like Evan's at all.
They can dump once if they want to.  They don't keep on earning because of an initial monstruous premine. 


What keys ?  In monero there is no PoS, there is no voting, and coding IS centralized for the moment, but can be taken out of the dev's hands (as has happened in the past !), just like with Bitcoin Core.


So ?  What stops you from downloading the code from github, reading it, modifying it and compiling your own node software ?

But you are talking about monero here, while the thread is about DASH.  DASH is not a scam.  It is a private fiat currency, mimicking as a crypto, and under full control of central bank Evan Inc.  And it can work very well to do payments until it reaches high volumes of the order of bitcoin, which is not the case atm: all volume is essentially on Poloniex at this time.

Dino are you and the other forgetting the pother coins "hold the keys" too ?
Ya know it's stupid sitting here harping on ONLY about Dash when they all do it..
It reeks like agenda here.. open a window  

Evan is the big bad evil monster ?

Then what the fuck is Risto / rpietila from Monero then ?

One difference that jumps out at me is one is allegedly not even apart of the team.
When he is and.. they have lied their ass off about since the coin started 3 years ago.
But hey.. let's just put our little Monero blinders on and rail on about Dash right ?

And when you look at most of these coins + schemes they are *ALL* controlled by 1 entity.
Wanna talk about keys Dino ?

What about Github account passwords ?
And the fact that Github is FULLY 100% US govt compliant.

You guys spend all your time dancing around spotlighting 1 coin etc when 90% are the same.
THEN you have the nerve to accuse me of doing that.. when all i am doing is posting what i said above.

Indeed, the question is rather the opposite: as there is circumstantial evidence that at a certain point Evan Inc must have had a large fraction of the coins, and as this is amplified with the masternode PoS system, it would be rather natural that Evan Inc controls about half of the coins and an even larger percentage of masternodes (not all coins are in master nodes).  As such, he also has almost full certainty to have full control over the development voting system (and the 10% budget that it has).

In other words, simply accounting for the coins he must have, unless spent a lot, he must be in total control of the community, and of about half of the master nodes at least.

This is a bit like using a Tor-bis network of which all nodes are owned by the FBI.

Indeed, and I think this is the hidden power of DASH.  It is a private fiat currency, mimicking as a crypto currency.  Because if you hold the keys to the voting system, you can do ANYTHING if you want to, including inventing a block that assigns you an extra 5 million coins.  This is a central bank system.  And these systems work well, and make their owners also very rich.  But it is also a payment system that will work much better than one where there is true decentralization, with all the burden it brings.


Well, he is still limited by the credibility of his decisions, and has to keep up the monetary belief.  Just like the governor of a central bank cannot just start printing like crazy without harming the value of its currency.  But that's about it.  

I don't see why that is a fail. He has a good point.

Seeing as the instamine appeared to be deliberate, and that Evan Duffield deceived people about the timing, and released early, I'd say it's very likely that a small number of people control a lot of the Master Nodes.

But at the end of the day we don't know.

The circumstantial evidence is that Evan deceived people so he could control a lot of coins. Otherwise why would he have reduced the number of coins so much after the instamine?

I've never seen any other explanation that makes sense. But feel free to explain why he would reduce the number of coins after he was involved in the instamine.

A huge number of coins were distributed to a small number of people, whilst others were lied to and so missed the instamine. But then to make things worse the total number of coins was vastly reduced.

I hope that a lot of small people make money out of Dash. The more the better I think. tha's what has been so good about crypto. Lots of small people have been able to benefit. But, Evan tried to make a small number of insiders benefit

Epic fail. Can't tell him which masternode is his LOL

The lack of clarity around the masternodes is amazing. The only thing that seems agreed upon is that a small group of people control the majority of the supply. Whether or not there is a fixed limit on the number of masternodes, since it takes so much currency to have one, there is a de facto limit, and so there is centralisation.

Yes, the premine situation was a fiasco. Maybe it was a deliberate attempt by the founder to control the supply in perpetuity. They should have scrapped the project and started over, instead of allowing hundreds of thousands to millions of coins to be unfairly taken by a small group. Some are offput by that and will not use/invest in dash. But if there is value in what dash is and can do now, and ppl are willing to overlook this blemish (or don't know about it), then dash can continue to grow and be viable. But that's not the issue. The problem is that we have a currency that is largely controlled by a small group of ppl, with factors intrinsic to the currency design that prevent others from getting in. Centralisation is an anathema to cryptocurrency. Not only will you have decisions that are not in the best interest of the currency being made, but if the allegations are true that the founder unfairly and intentionally pilfered a plurality of the currency, and said founder is still in control, then what other decisions based on personal gain will be made?

The sooner this dashite crashes the better.

Yes, I'm still learning the history and design of DASH. The masternodes certainly mean an advantage for someone holding a large percentage of coins, and it just so happens the founder accidentally ended up with a large amount of coins at the beginning. Another thing I find interesting is that masternodes get 45% of new coins. Why 45%? I mean I think it's an interesting design to have masternodes in the first place (I think DASH invented this). They perform the mixing as I understand it. However, isn't that a bit high of a payment for mixing?


That doesn't make sense to me. If I held 1 to 1.5 million DASH from initial instamine plus a never ending supply of new DASH from masternodes (which I'd obviously set up) then at $3.00 price I'd have somewhere in excess of $4.5 million with new money always coming in from mining. This doesn't include having 10% automatically going into DASH treasury to pay for marketing. Even if I loved prostitutes and cocaine there is no way I'd blow through over $4 million on them. Just spending $100K would be plenty and leave me in control of a large part of DASH market for the future. To be fair to DASH supporters all this is speculation, but surely anyone would agree the founder would be in a pretty sweet position at the minimum and downright in control of a market monopoly at the worst.

Hell no.. this price rise has been damn near SILENT.
As usual you are posting retarded bullshit here bud..

Ethereum wins that title hands down !

Anyway i just looked now at the price and holy tap dancing christ $96.20


Just WOW.. and no i myself would not be buying them right now.
But who knows how hard this shit is gonna get pumped.
It would be far too risky for my taste though..

Bloody insane shit we're seeing !

Much more, because DASH is a half PoS system, and masternodes, which you can buy for 1000 DASH (back in time, I think it was 5000 DASH) take 45% of the mining rewards for them.  So if you own all master nodes, you get 45% of the new coins too.
Compound interest formula, and you find that the instamine must have, if always re-invested in master nodes, close to 50% of the stash.

Of course, it is possible that the instaminers spend all their holdings on cocaine and prostitutes when DASH was at $3.- and that the coins are now redistributed.

Bulls make money, Bears make money, Pigs get slaughtered
https://www.fool.com/knowledge-center/bulls-make-money-bears-make-money-pigs-get-slaught.aspx
Watch the DASH/XMR market
https://bitcointalksearch.org/topic/m.18203247

I fully agree with you, and this is why it is going to be extremely successful.  People just love scammy winners.

A scam? Any proof to post of this for all to see?
I didn't invest in them but was thinking about it.
Now if there was some proof in this and anyone seeing it collapsing soon then I will be sure everyone here would like to know it too.

People were buying Zcash for over 1 Bitcoin when it first came out.
Nothing is logical in the altcoin market. Just a ton of people following trends trying to make a few dollars.
Marketing is the most important thing. Get hot and drive the price up while you can. Most people aren't paying attention to the technology.

That being said, maybe Dash will stick around. Healthy competition is always a good thing.
But they are definitely riding the hype wave right now.

Thanks for the reply. Regarding others mining at the time, don't you think that can be problematic? Let's say I want to game the market and control a big percentage of a coin. I announce it so it seems fair and not premined. Everyone is all set. At the designated time, though, I say wait, there are bugs so the launch is delayed, remove your attention from this matter for at least X days (or weeks) while I fix things. Then later that night when everyone has gone to bed in most timezones I start mining. Maybe there are a couple other nightowls awake and see the activity. Still, however, I have the advantage of knowing exactly when to start (even nightowls wouldn't be ready right away). With such low competition I easily amass most of the coins created over several hours. So your statement about others mining wouldn't exactly set things right, see?


According to that link the founder puts the instamine at around 2M coins. He then says this too:


With all due respect, DASH still exists, and is actively pushing for new users apparently. The price rise means a lot of new people looking harder at DASH like myself. Are you suggesting we just move on? That sounds more like a push from being biased about not wanting to really look at the history. I don't know what the real story is. Only the founder knows 100%. However, I don't like that the launch of the coin was done in a way that looked very intentional for the founder "accidentally" ending up with a huge number of initial coins. Why not simply re-do the launch cleanly/fairly? Well, as you say people will need to decide the events for themselves.

Sure, I'll answer (because I'm not trying to be evasive). No, I can't tell which masternode is yours. But I also cannot tell how many masternodes you own. For all I know, you own ALL the masternodes. Because with Dash masternodes are anonymous. Now I will ask my question again:

How do you prove that any subset of the masternodes are not controlled by the same person?