What's wrong with simply acknowledging that mining is a decentralised market ? Does something that fundamental really have to be explained on a podcast ?
Yes, because the opposing side seems equally fundamental and obvious, that is why we discuss those things. It seems that you have expressed interest in putting forward this point of view to the community and I applaud that look forward to hearing it. As soon as Ryan Taylor's first reward 'adjustment' was made I sold my entire Dash position. I felt forced out !
Many others did and as they did the price continued to fall and Taylor's work was undone. Add to that Binance spinning up 270 nodes using customer funds completely stole the entire first year of reallocation benefits meaning there was no increase in ROI for MNs only selling from disgruntled holders so the feedback loop continued! My only criticism of Taylor's proposal at the time was that it did too little and was too slow and this turned out to be true and why it appears to have been a failure. I still follow Dash because I always loved this coin going back to the darkcoin days. Me too, at least we have that much in common.  I'm talking 80% POW, 10% treasury, 10% Masternodes, something in that ballpark. While we're at it lets get rid of chainlocks.
This would kill the coin, once the yield is gone, the capital would be sold en-masse and the price would be obliterated, the dev team would become completely unfunded and leave we'd fall off the CMC and enter the realm of the zombie coins like peercoin, feathercoin, megacoin, namecoin and countless others. Staking rewards is a key feature of Dash since it is pure DeFi and trustless, no rug, it is distinct advantage over the more centralised DeFi options. Paying for our independent dev team is crucial in ensuring the code base is not only maintained, but also innovating forward, kill that off and the community will soon leave and finally the miners will leave as the value plummets. |
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This is hilarious. The last re-allocation worked so well that lets do more of it.
 Did you delete posts so yours would be top of the most recent page, pushing mine to the end of the previous page ? Haha same back to you  Its quite a pitiful gesture to be honest, does anyone even come here anymore? No, not at all, I've never deleted a post, but I see many others do. There is an open invitation to both of you to join the Incubator weekly on Monday and put forward your side of the argument, ie why this is a bad proposal. The podcast is a paid segment, you will be able to claim a 3 Dash bounty for your time, but more importantly, you will be given a forum to explain this to the broader community and hopefully save Dash (in your eyes) from this folly. Please contact Amanda on the Discord, or DM the DashIncubator handle on the sub reddit, or leave a comment on the youtube link and let them know you wish to appear on the show and set the matter straight. I look forward to hearing from one of you. |
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An important new governance proposal is in for the Dash Masternode network to vote on. https://www.dashcentral.org/p/TREASURY-REALLOCATION-60-20-20In brief, the proposal aims to make the following emission changes. Current allocation: Miner reward: 36% Masternode reward: 54% Treasury: 10% Proposed allocation, in light of the above: Miner reward: 20% Masternode reward: 60% Treasury: 20% This proposal may be seen as controversial by some, but it reflects the network's overall lesser reliance on POW for the network security and the greater role that the masternodes play in securing the coin. Voting is now open and you may view the leaderboard here https://mnowatch.org/leaderboard/ as the votes come in, in real-time. Watch the Incubator Weekly Show with Amanda and Sam Westrich CTO of Dash Core Group discuss the upcoming rellocation proposal! Some really great insight into this change and why it is absolutely imperative that Dash makes this optimisation if it is stay competitive in the space. https://youtu.be/UEe9oi1njFY?t=875Really insightful quote from the show. ...and those coins that have come in [to coinmarketcap], and that are above us, ah they're not proof of work coins, they really aren't.
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An important new governance proposal is in for the Dash Masternode network to vote on. https://www.dashcentral.org/p/TREASURY-REALLOCATION-60-20-20In brief, the proposal aims to make the following emission changes. Current allocation: Miner reward: 36% Masternode reward: 54% Treasury: 10% Proposed allocation, in light of the above: Miner reward: 20% Masternode reward: 60% Treasury: 20% This proposal may be seen as controversial by some, but it reflects the network's overall lesser reliance on POW for the network security and the greater role that the masternodes play in securing the coin. Voting is now open and you may view the leaderboard here https://mnowatch.org/leaderboard/ as the votes come in, in real-time. |
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What is it exactly about the reward ratio that makes Dash appealing to outsiders more than insiders ? (Because that's what results in more buys than sells).
Dash is a masternode coin, with 38% of its supply 'locked' in masternodes earning yield, it is crucial to pay them an attractive rate to hold that value. Currently MNs pay about 7.5% annualised (Dash on Dash), however, the current risk free rate is 4 to 5% (money market, short term treasuries), so increasing the allocation to masternodes is required to attract new investment. Luckily, in Dash much of the security traditionally derived from mining has been shifted to the masternode network, eg by means of ChainLocks, a Dash invention that was later also adopted by Dash copy cat, Firo. ChainLocks prevents any chance of 51% attack a large attack vector for traditional POW coins such as Bitcoin and Litecoin. Further, coming in v20 (our next release) the entropy used for creating quorums (another Dash invention) will no longer come from miners, but rather come from the CLSIG message which will be mined into every block. This further reduces our need for a massive and wasteful mining outfit. For these reasons, we should focus on reducing the portion of the reward paid to miners and diverting those funds to the DAO or the masternodes. For reference, here is how the subsidy is currently dispersed in Dash. Miner: 38.07%
MN: 51.93%
DAO: 10% |
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Deep Value refers to your own analysis where the masternodes would be paid a fair rate for their services delivered, I believe you reasoned that was about $30? So, today when we dropped for a moment to $38, value investors made the most of it and drove the price upwards. Now at $26 in fact. Ranking Nš 99. 99 is a curious position, $RUNE was sat at No. 99 last week before going on its current mega rip that has seen it double in price. NFA. DYOR.  |
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7000 pages of masternode technobabble resulting in a terrible investment for anyone that wasted their money investing in dash. You just got out? |
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I agree with Pang, the chart was already super bearish by the time the decision was made to try and save Dash by paying the stakers slightly more for holding the troubled coin. The change that AFBitcoins (DashAF) and Tokenormal are complaining about is a decision to increase the % of the block reward paid to Masternodes from 45% to 54% by May 2025 ! A very modest change! In hindsight, we can see that this change did not go far enough and the APY earned by the holders was not sufficient to stop the torrential selling as your boys tokenormal and AFBitcoin dumped the living shit out of this coin sending the price to where it is today. Decred is another coin that has moved to reduce the amount of reward paid to miners https://docs.decred.org/advanced/issuance/ and it is following same trajectory as any other alt, no better or worse, FIRO also had a reallocation to favour the masternodes and does just fine. This nonsense about paying miners more makes no sense if we aren't able to get more value from them for doing so. |
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Whatever happned to Dash? It is just one of thousands of shitcoins created to enrich its developer creators and just exists for no apparant reason.
Will never in a million years get near ti its all time high
It had a fatal flaw which was that governance was executed according to the priorities of insiders rather than outsiders. The governance contracts therefore had to constantly appeal to insiders - people who already had Dash - in order to get votes, rather than those who didn't have it and would have had to buy it. Ironically it was the outsiders that were needed to support the marketcap which is why it tanked. Even more ironically, the "insiders" haven't been retained by this policy and a significant number have disinvested. So not only did we have an increase in supply (from mining) but an increase in so called "circulating supply" from masternode disinvestment. That was because the masternode reward didn't sufficiently offset the capital loss on collateral which was (ironically) caused by the excessive masternode reward being far beyond the costs being incurred by masternode operators to maintain the network. Dash thinks that Dash protocol controls the masternode reward. But anyone who's tried to live off a masternode reward knows that that's not true. Whatever the protocol sets, the free market values it accordingly. So if Dash sets the reward high and the market values it down, then it means that we got the setting wrong. It was suboptimal and we need to change it til the market sees it as optimal. This was not done. Which all demonstrates that the policy had - and still has - its priorities reversed in terms of what is needed to attract new investors. Dash is not the "money of the people". Doge is the "money of the people" or even bitcoin as it does not throw away half its supply at zero price as we do. New investors want native blockchain mining supply to be restricted to those that pay for it rather than have it gifted away beyond the level that is needed to retain core network resources. Until that issue is addressed, Dash will continue to flounder. Poppycock! Ethereum. Supply is gifted to already rich stakers, constant tail emission meaning the supply will approach infinity and while I do believe it will continue to sink versus Bitcoin, it's not doing nearly as bad as all that would suggest. There are far better theories to describe why Dash has under performed, which we've gone over ad nauseam. |
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Any idea where I can find news or discussion on the development of this project?
I cannot access Dash website for some unknown reason and I feel curious how are people in the position of decision-making doing in order to improve the situation of this coin.
I remember back in the 2019-2020, it was the #25 coin by marketcap, nowadays it is on the 66th position.
Any ideas to get official information from the developers?
Most recent update https://youtu.be/PTLJS1hoPNo |
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Disagree. A common mistake in this space is to compare coins like Dash and Bitcoin with LUNA, Terra, FTT, BNB, SOLana and other such scams. Those coins have massive premines/pre-sales to VC, can be printed at will without consensus and are used to collateralise risky bets that invariably come under pressure in bear markets, when they do they go to zero. Dash and Bitcoin are different, they have a finite supply, fixed emission schedule, are not used to collaterlise risky bets by the coin's own creators. These will coins will hold their value and return to high valuations when the stampede out of the market ends.
This is a great opportunity for Dash as the market is doing what it must do which is purge itself of the rubbish tokens thus allowing the OG coins to flourish once again.
You obviously don't know the history of DASH. If you did you'd know that when it started out and was called Darkcoin that there was a 500,000 coin premine disguised as a glitch but was a scammy way of premining without calling it a premine. DASH is a rubbish coin. Not this FUD again, I thought we were passed it, anyway, for anyone interested, here are the facts. https://youtu.be/O39kWbOu11M@pang, you made a good point about Dash not focusing on one thing like Monero did, many of us are upset that Dash did not more aggressively promote its privacy features and thus lost market share. The ironic thing is that coinjoin (privatesend) has been constantly worked on and improved and is working better than ever and even coming to mobile soon! We just dropped the narrative because under previous management, they were too scared to stand up for holder's rights. Good news is management changed. |
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Well, it seems that it is inevitable to lose the $30
We go back to February 2017, but with more float, that is, more dilution, many more options on the market, and few real new things on the table.
They are things that happen. Sometimes we make the right decisions and other times we don't. We can blame the market, but realistically, we know that we have done really badly.
With that being said, I really wish you all the best, but understand that no one is going to invest or buy Dash today for anything other than speculation. We will see how important this platform that was previously called EVO is, but if it does not achieve a real and constant demand for Dash, I assure you that we will see the $10 during 2023 or maybe before.
Good luck.
Disagree. A common mistake in this space is to compare coins like Dash and Bitcoin with LUNA, Terra, FTT, BNB, SOLana and other such scams. Those coins have massive premines/pre-sales to VC, can be printed at will without consensus and are used to collateralise risky bets that invariably come under pressure in bear markets, when they do they go to zero. Dash and Bitcoin are different, they have a finite supply, fixed emission schedule, are not used to collaterlise risky bets by the coin's own creators. These will coins will hold their value and return to high valuations when the stampede out of the market ends. This is a great opportunity for Dash as the market is doing what it must do which is purge itself of the rubbish tokens thus allowing the OG coins to flourish once again. |
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Regarding your chart, Tokenormal, any newly minted coins are unmatched in the market, so I take objection to the way you've drawn the graphic, miners are minting coins out of thin air and then finding buyers for them. Another unmatched seller are exchanges and their fees, they sell fees collected from transactions into a market without a buyer on the other side. Examples of matched transactions are trades put on via an exchange where buyers and sellers are matched via orderbooks or liquidity pools with each other. Let's not mince our words, miners exert unmatched sell pressure, thus their emissions can only push down price, as such POW coins like Dash should do whatever it can to minimise this or at least make it possible to withhold these coins from market for some time, which is what masternodes can do because of their low running costs, similar to stakers in the POS systems. |
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