No, this definitely won't happen. Based on my calcuations, the market cap of Dash (
$659,228,382 at the time of writing), is about 15% that of Ethereum (
$4,248,956,315 at the time of writing). Therefore the supposedly great DASH pump is weak even compared to Ethereum and is even a much weaker altcoin, never mind being able to compete with Bitcoin. Furthermore, the supposed price of $100 or so which has gone down a tad from its peak already, was partially based on the supply of DASH being less than half that of Bitcoin, therefore in terms that are relative to Bitcoin DASH's price would be well under $50.
Furthermore, this market adoption, while interesting, is minor and will continue to be so until DASH finally runs out of steam, which it will do even if it remains a genuine competitor to Bitcoin. Monero is comparatively stronger and its growth healthier.
Thanks a lot for reply, good info: much appreciated
However I was hoping to get more responses on this line of inquiry here, just because my possible mistake in selling the Dash 'hedge' position I held until late last year has been nagging me so much during this big crazy-ass DashPump, LOL
The whole reason I got into alts in the first place (including XMR) was -- first and foremost -- to protect against bitcoin failing.
I sincerely believe that the world's transition to a future with cryptocurrency embedded in society is going to be the greatest wealth transfer tsunami of all time.
BUT problem for all of us is going to be making the right decisions, as it all evolves. Bitcoin is a brilliant invention and Satoshi was a genius but there's no guarantee that as Version 1.0 it will be the be-all and end-all implementation of the crypto currency concept forever. Hardly any software is really ever any good until at least Version 3.0
I believe I am sufficiently diversified out of just BTC into XMR (large position) ETH (small position) and others (even smaller position) to be reasonably safe that I'm covered, so far, whatever happens, unless and until some newer/better coin comes along.
But now this damn DashPump has come along and thrown a monkey wrench at my balanced (I believed) position, LOL
I can see now it was a mistake a couple months ago to dump the few Dash I acquired very cheap, long ago (invested less than 1 BTC) but now I do NOT wanna buy in again for restoring my hedge at this PUMPED price. That's just too expensive given the high likelihood that this is just another P&D and the crash will probably come soon enough.
If it falls back to $20, okay maybe then I will... just to cover all possible outcomes IF again Dash comes back somehow again but "for real" the second time.
But, guys... listen: if the DUMP from this PUMP does not come? We have to be ready to face the fact that XMR may not win. We MAY be WRONG here, about Dash, despite all the indications we think we see.
Remember Fluffy even says "Do Not Buy Monero" LOL
XMR is better tech, no question, but sometimes other things take on more priority and we can't foresee what really matters, or why SHIT happens.
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So, anyone else have ideas here, HOW all of us in the Monero community can "keep a smart eye on" what DASH is doing too, just to keep ourselves grounded and reality check that we are not missing the boat due to all of our love here for HoneyPony...
I'd rather discuss this and do the work on it in the MONERO COMMUNITY and not join the DASH Community really... just 'cuz, y'know... fuck those guys. LOL
But IF my theory about the DashMasters using their Pump Power to "buy" merchant adoption is possible, although unlikely,
HOW can we monitor that to be aware IF it's happening? What's the best way to keep tabs on actual DASH TRANSACTIONS to be aware if they start getting real usage going?Thanks again, in advance, for more replies