This is a good comment (+your other one about 'ageism').

I'd caution people against making adverse comparisons against bitcoin from the point of view of a Dash holder.

There are some great things going on in this project but they can't be decoupled from the success of the cryptocurency concept in general. In particular, consider this:

One of the 3 'biggies' in terms of currency is "unit of measure". i.e. a way to measure value. You don't need fast blockchains, privacy algos, ease of use or any other bells & whistle's to win that battle. You just need a ruler with your units on it.

Right now, the price of every crypto in the entire world is measured in bitcoin. That is the only non-national denomination available to exchanges that they're comfortable with and it's only proliferating. So regardless of marketcap, blockchain features, ease of use or anything else, bitcoin is going to survive and ostenstibly consolidate as the world's reserve crypto, even if another coin out-does it on marketcap.

This has implications for value because when 'profits' are taken, they will be taken in Bitcoin, not Dash since the 'value' of Dash will continue to be measured in bitcoin. (Unless we can convince all exchanges to re-price everything in Dash which seems unlikely).

There are precedents for this. The UK currency denomination is the pound sterling, but a pound of silver is worth far more than 1 pound sterling. Same with the "Dollar", same with the "Peseta", "Peso" etc.

Another thing: The crypto industry is going to start to be dependent on mutually complimetary assets. For example Tether (or Bitshare assets like BitUSD) will be needed by deflationary blockchains like Dash to trade in units of national currencies. Even XMR (a.k.a. Trollero) will be needed for certain encryption-prioritised purposes. Everything will be useful for everything else, contrary to the tribal narratives found in abundance on bitcointalk.

Other assets that we like to call "sh* coins" will be needed as hedges to larger assets. For example now that Dash has made the masternode concept popular and acceptable, cheaper ones are becoming available for investors that want to share in the experience of what Dash has gone through.

Bottom line: The assets that will survive this financial revolution will be the ones that add value to their industry peers, not the ones that trounce them.

BU signalling is the equivalent of a false sellwall in markets.

Will get pulled once Bitmain Tech Limited are done with their buying.

To me it seems the whole Bitcoin Unlimited episode is a hoax, designed to lever the spread between extremely cheap signalling costs and extremely large returns on market movements.

If there was really a threat it would be double.

Bitcoin price recovering nicely.

Skyrocket imminent.

The whole thing's a big hoax IMO. The giveaway is the fact that so much market movement is achievable with only the cost of signalling which is almost nothing. Who gives a f* about signalling.

Even the hashrate is only the low hanging fruit. The next 5% is 10 times harder to get and the next 5% after that 10 times harder again. Easy drama.

Don't you think that the professional software development industry has a hard enough challenge writing code that IS going into production without writing that ISN'T ?

I'm at a loss to understand the merits of a development model that's designed to:

 • intentionally kill coding efficiency by factor of multiples
 • use a prototyping technique to put software into production, thereby loosing all ability to pursue long term design objectives
 • put the high-skilled people in charge of the low level development and the low skilled people in charge of the high level development

It's one of those ideas that wins the Champagne for 'wackiest idea' at brainstorming meetings, but I think as an investment, your money's safer in lottery tickets. Maybe I haven't understood correctly how that project functions - if so I'm happy to be corrected.


If you're talking about Dash, I'd like to see you quantify that statement. Having followed this project for 3 years, I estimate that the amount of man hours/money in development is huge and the amount of man hours/money in marketing is tiny - at least by comparison.

Bitbay skyrocketing.

3 years of hard work, dedication and measured design priorities by dzimbek starting to pay off.

Wow. I must say that is one of the most articulated, measured and well reasoned cases I've ever heard you make Tante

Great read !

David Rockefeller.

Interesting comment by dzimbeck on github.

I've never seen those criticisms of the Lightning network before.

You make a very good point.

The thing is, it can't be done justice to by a single monetary tier. In an advanced financial system the trading currency (units which measure the value of the trade) is abstracted away from the collateral that backs it.

If you want to actually use the collateral itself to exchange for the good or service you're buying then that would be barter.

In the case of cryptocurrencies like Bitcoin, they are unbacked electronic assets and so qualify as collateral. When it's deployed in a commercial role though, it does in fact have your name on it - just like your house.

Here's two examples:

1. When you want to trade it for other currencies on a commercial trading platform you enter into a contract with an exchange whereby the contract assigns ownership of a certain quantity of blockchain balance to a designated individual (you). That balance may be fixed or floating depending on the contract (i.e. your balance might be at a designated address or a non-designated one). You then proceed to trade all day long, each one of those trades being registered, tracked and identified as being you. Finally, when you're finished you withdraw funds to the lower monetary tier where owner and possessor are no-longer distinct entities. (i.e. the owner IS the possessor)

2. If you have a Bitcoin backed credit card, you can move funds into a blockchain address that the credit card company designates. They will then credit you with a "tier 2" monetary token that is tradable in trading currency units as opposed to blockchain units. Again - all your trades will be recorded, identified and tracked and if you get stuff stolen in that monetary tier you will have recourse to a third party to restore your balance.

What you can't do is stamp your name on a bearer token - because then it would no longer qualify as such and consequently not qualify as bottom-tier collateral. (Because you need a third party to endorse the ownership). You COULD however enter into a barter trade with a bearer token because the mere fact that you hold it - means that you own it.

Put another way, potatoes don't grow out of the ground with anyone's name on them. Diamonds don't, coal doesn't and gold nuggets don't.

Thats the asset class that cryptocurrencies belong to. Like the potato, the diamond and the nugget that emerge from the earth, a crypto coin emerges from mathematical solution space....with nobody's name on it  

REF: A good reference on monetary tiers in the fiat system is the Bank of England website. Here you can see how one tier backs another and how successive layers become more articulate in terms of their monetary priorities but further away from the collateral that backs them as well as less liquid. The BofE has about 5 tiers, (only 3 of which are in use I think). They are named M0...M4

Base money supply tier:
http://www.bankofengland.co.uk/statistics/Pages/iadb/notesiadb/m0.aspx

M4 (Broad money supply) tier"
http://www.bankofengland.co.uk/statistics/Pages/iadb/notesiadb/m4.aspx

Yes. This one:

How you get from anonymous bearer-tokens to named-account base money and how they compliment each other
https://bitcointalk.org/index.php?topic=1709631.msg17158283#msg17158283

I've spent the best part of the last couple of years discussing the distinction between deflationary and inflationary currencies and their mutually exclusive priorities regarding price stability and store of value with regard to mass adoption.

I've also campaigned for fiat gateways for Dash so that value can be held in Dash and spent in the prevailing currency of the day in order to decouple the conflicting priorities of a deflationary bearer token and a stable trade currency. I've discussed Dash's internal economic model, external economic model w.r.t. other cryptos, fiat, various aspects of the financial system such as units of measure and trade clearing facilities.

See, for example here: https://bitcointalk.org/index.php?topic=1809999.msg18047893#msg18047893

The appropriate case for implementing price stability, identified account holdings, support for national currencies and obfuscation based 'privacy' is the system on the left (variable supply/unit of measure state currency).

The appropriate store of value in that case would be the one on the right (deflationary currency) which is necessarily volatile (otherwise it can't store value), transparent, unbacked and otherwise represents 'bearer-token' properties.

See also:

Community Discussions Stores of Value vs Price Denomination vs Units of Measure
https://www.dash.org/forum/threads/things-to-think-about-as-a-community.13407/

Cash vs Stores of Value vs Credit Money Discussion
https://bitcointalk.org/index.php?topic=421615.msg12638377#msg12638377

Why 'working as anonymous cash' is a pre-requisit to non-anonymous credit derivatives and what Dash is doing different from Bitcoin w.r.t. that
https://bitcointalk.org/index.php?topic=421615.msg12506443#msg12506443

How state institutions are consolidating their definition of non-contractural money (anonymous cash) and comparison with Dash's monetary priorities
https://bitcointalk.org/index.php?topic=421615.msg13239732#msg13239732

The distinction between 'untraceable' money and strict definition of 'anonymous' money
https://bitcointalk.org/index.php?topic=421615.msg13027764#msg13027764

How you get from anonymous bearer-tokens to named-account base money and how they compliment each other
https://bitcointalk.org/index.php?topic=1709631.msg17158283#msg17158283

Collateralising Blockchain assets and their 'journey' in and out of anonymity
https://bitcointalk.org/index.php?topic=1818587.msg18136559#msg18136559

Dash's internal self balancing economic model and how it 'front loads' adoption curve to survive the long lead in period for cryptos
https://bitcointalk.org/index.php?topic=421615.msg12549331#msg12549331

A bearer instrument/token derives its entire value base from consolidating possession and ownership into a single asset.

There are no 'owners' with bearer instruments. There are only holders.

That's what makes them able to 'back' other assets where the owner is distinct from the backing collateral. It's also why blockchains must remain transparent if they want to consolidate that monetary archetype.

If people want an asset with their name on it, encrypted transfers and endorsed ownership they can get themselves a bank account.

Dash blockchain transaction count (that some industry observers like to moan about) hit a new all time high. 800% increase since December.



Dash network hashrate hit a new all time high.

It's no different from what's happening right now.

The "Virtual currency" community is way ahead of them. It's been crawling all over the blockchain for 8 years already, performing a variety of self-policing, integrity validating, confidence-inspiring surveillance duties while EU mandarins are just getting round to finding a definition of the word.

Just tell them welcome the the party.

Here you go.

I'd interprete that advice as a cry for help if I were you

It matters to some. It does not matter to others. Thats why markets exist - to give you a choice. It's also why open source exists - to give you a choice in case the market wasn't enough.


It may take you a bit longer than most people to swallow this fact, but swallow it you'll have to. Dash is now one of the most well distributed coins around. Go back to that chart above and take a second look. There have been 4 huge 'sell-offs' in its history, not to mention a 2-3 month period where the coins were almost worthless and changing hands for peanuts. The largest holder wasn't even a miner - he was a buyer.

And this despite widespread knowledge at the time of what a crypto asset was, how it could increase in value, how early investment represents an opportunity if you judge the fundamentals to be worthwhile. Sure it has it's "whales" but nothing close to what bitcoin has so don't worry about it. No Dash holder has anywhere near 1 fifteenth of the coin supply.


As it turns out, the 3 years hard work that went into turning Dash into a valuable asset came at a greater cost than the sanctimonious nonsense emanating from bitcointalk directed keyboards. There are more dignified ways acknowledging that there was a basis to the qualities that some of us have been trying to promote over the last couple of years.