Why Dash is not a scam, but a scheme

[smoothie]

Who got the millions of Dash at the early stages? No one knows.

It may be true that no one knows but what we do know is that everything happening so quickly gives enormous structural advantage to those who had highly topical inside information.

As you say, we can't really see the outcome, but we can see the structure, so that's the only way to judge. The salient question is not was it cheated in a massive way, but rather, could it have been cheated in a massive way and in the case of Dash the answer is a resounding yes.

There is always inside information of at various times of course, but slowing things down to happen over months, years, or decades means the effect of being in the right place at the right time, either accidentally or more importantly by design, is vastly reduced.

People keep making the correct point that absolute speed of distribution matters, but Dash supporters just don't want to get it. Take Litecoin for example. It had a small instamine because of the fixed-interval difficulty adjustment algorithm that was ubiquitous at the time. but since Litecoin distributes its supply relatively slowly, over years to decades, not hours or days, the effect of that was negligible.

It doesn't even matter (much) whether LTC's instamine was rigged intentionally and grabbed by insiders or an accident and split among many lucky miners, because the relative amount is small, and that is an objective structural fact. As with Dash, distributional outcomes and intentions are not fully knowable, but the resilience and soundness (in the case of Litecoin) or the fragility and unsoundness (in the case of Dash) of the structures are fully knowable and fully known.

And these people could not have foreseen that Xcoin(which Dash was built upon) was going to get any value at all.

That is true for most people. But someone who knew that it had actual development plans would have a far, far better chance to conclude this than people operating in the dark (no pun intended). The only people with this enormous advantage were Evan and people working with Evan.

*awards smoothie Bitcointalk Gold for this post*

Clapping_audience.gif

Smooth != smoothie

[oaxaca]

AWS and Azure instances are expensive, there is no way someone wastes thousands of dollars...

Nice try.

[smooth]

AWS and Azure instances are expensive, there is no way someone wastes thousands of dollars...

Nice try.

LOL. On the free tier you get almost no hash rate.

[generalizethis]

AWS and Azure instances are expensive, there is no way someone wastes thousands of dollars...

Nice try.

LOL. On the free tier you get almost no hash rate.

Maybe oaxaca can get Satoshi to verify the hashrate for him. 

[TheDasher]

DASH defenders are organizing to defend the scam I see.  All scheming together to find new bag holders.

[PoS]

AWS and Azure instances are expensive, there is no way someone wastes thousands of dollars...

Nice try.

Da heck is wrong with you guys?

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.
 
From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Scamfield is nominee for the Master Scammer award!

At that stage most miners did not even know what algo that thing is running to mine a single coin on a pc.

[smooth]

block reward 100 times what it is now.

200x. The coinbase is 5 DASH but only 2.5 of that is miner reward. The rest goes to masternodes (interest) or to developers (by voting)

[illodin]

Da heck is wrong with you guys?

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.
 
From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Scamfield is nominee for the Master Scammer award!

Do you think only Evan is able to use cloud instances to mine? It was standard to mine CPU coins back then using cloud.

And isn't it funny coincidence there are 124 IPs in that list considering the default for -maxconnections is 125? I had been mining for a good while when that list was posted and my miner's IP is not there. What if he had posted a list that had 8 nodes in it, would you claim there were only 2 miners, evan with 8 and the guy posting the list being the 9th?

At that stage most miners did not even know what algo that thing is running to mine a single coin on a pc.

You don't have to know anything about any algos to be able to type "setgenerate true" into the console.

What's wrong with you?

[generalizethis]

(Think I'll just post this here as well since the troll-heads seem to feel free to spam their endless monologue repeatedly    )

The reality is that Dash is probably the single single biggest contender to adoption after bitcoin and that is why it attracts so much troll-attention from butthurt thumb-twiddlers with nothing better to do such as those found in this thread.

At least scientologist are smart enough to wait before they introduce the crazy. A faulty privacy scheme won't make it past the techs to gain cash status--game over. Without a proper privacy model, you have no chance at the type of fungibility demanded of a cash. Right now you have a speculative asset with a good salesman, that's it. I'd be surprised if it tags along on Bitcoin's next bull run as there are much better options that have been vetted by quality peers.

TLDR: Dash is Donald Trump, you got the spotlight, made some big promises, but now everyone wants to know who can actually win the election.

And did I mention the instamine? 

[funnyman21]

Honestly I think most people understand the DASH scheme already. Only fools would buy or mine a currency where not only the instaminers control a majority of it, they retain that majority by voting with their instamined masternodes to require future mining taxes so high that they generate enough new DASH from the miners to retain their majority.

Like any HYIP the plan will fail once they run out of fools to sell it to. DASH is beyond repair.

Does DASH remind anyone else of this coin?

http://cointelegraph.com/news/114399/one-coin-much-scam-onecoin-exposed-as-global-mlm-ponzi-scheme

[funnyman21]

Yeah, whatever. Same shit, different day, you know your onto something big when you get this much trolling

Dash Electrum - Release - 2.4.1

https://dashtalk.org/threads/dash-electrum-release-v0-2-4-1.6497/

Your troll comments are ironic when you have an article linked in your signature with unsubstantiated rumors. Most of the criticism I have read about DASH on the other hand has been based on fact meant to protect and educate noobs who do not immediately recognize snake oil for what it is.

[smoothie]

Yeah, whatever. Same shit, different day, you know your onto something big when you get this much trolling

Dash Electrum - Release - 2.4.1

https://dashtalk.org/threads/dash-electrum-release-v0-2-4-1.6497/

Your troll comments are ironic when you have an article linked in your signature with unsubstantiated rumors. Most of the criticism I have read about DASH on the other hand has been based on fact meant to protect and educate noobs who do not immediately recognize snake oil for what it is.

Good so you see what many have tried to present when dealing with the topic of dash. The facts.

[smoothie]

XPOST of interest:

The following has been brought to the attention of the DASH core team several times and has been categorically ignored.

Sept 15: Coin's founder begins posting pump/hype statements like "Finally got my money to the exchange" as if inviting the public to take advantage of an opportunity to front-run a bull with insider info.

Sept 16: Coin's founder continues pump/hype with self-serving, faulty TA.

Sept 17: Coin's founder advertises OTC coins for sale, on an ongoing basis, from the coin's official website.  Why he's using market rather than OTC buys (which directly benefit his coin) is not disclosed.

This summary does not mention specific names, to make it clear that such actions would be outrageous no matter the particular coin/dev involved.

The only reason I can think of is that buying on an exchange actually moves the price on a public basis. He gets to "paint" a chart.

If he buys OTC no one sees the buy really except the seller.

[tuapoma]

DASH is not a SCAM!!

BREAKING NEWS - Charlie Shrem answers 14 questions about NEW Dash Pay Card! YOUTUBE: https://youtu.be/ui0gaDXKyt0

Charlie Shrem Dash Pay Card Question TimeStamps:

0:43 Why the lack of updates?
3:41 When will the card be available? do you have a date?
5:46 How is your card different to payza's? How do they compare?
7:27 How much will the physical card cost?
10:13 What are the fees? (Annual fee/ATM fee/Foreign Exchange Fee)
11:35 What are the spending and withdrawal limits?
14:03 Do you plan on implementing InstantSend functionality?
17:00 Which countries will the card be available on launch on in the future?
22:07 What is the website URL & when will it be up & running?
23:25 Can you buy and sell Dash on platform as well?
25:31 Why should people use your card and not the competition?
27:51 What are your plans to promote & market the Dash Pay Card?
30:16 Charlie, why Dash? Whats so special about Dash?
33:18 Can you tell me more about the Free card giveaway?

Charlie's Dash Pay Card Proposal - https://www.dashcentral.org/p/DASHPAYCARD-DEBIT-CARD

Dash London Conference - https://www.dashcentral.org/p/conf-dash-201708
 

Learn once and for all, there was no pre-mine in Dash!

Dash Instamine Issue Clarification:
Due to a number of questions about the so called Dash "instamine issue", the purpose of this document is to provide an official statement from the Dash team about this matter. Our intention is to provide Dash investors and users with information to help them understand the currency history and technical issues at the beginning of the project and draw their own conclusions on the impact.

Facts about the instamine:
1- There was no pre-mine in Dash
2- ~1.86MM first 24h, ~2.02MM first 48h according to https://chainz.cryptoid.info/dash/#@inflation
3- That represents approximately 10-15% of the total money supply that will ever be issued
4- This coin issue rate exceeded the published emission schedule by a wide margin

more details here: https://dashpay.atlassian.net/wiki/display/OC/Dash+Instamine+Issue+Clarification

Advice: the best wallet is the Dash Core v0.12.1.5
Warning: trust only in the DASH[DOT]ORG/WALLETS to choose the best wallet for you.
 

[Dullmartini]

DASH is not a SCAM!!

BREAKING NEWS - Charlie Shrem answers 14 questions about NEW Dash Pay Card! YOUTUBE: https://youtu.be/ui0gaDXKyt0

Charlie Shrem Dash Pay Card Question TimeStamps:

0:43 Why the lack of updates?
3:41 When will the card be available? do you have a date?
5:46 How is your card different to payza's? How do they compare?
7:27 How much will the physical card cost?
10:13 What are the fees? (Annual fee/ATM fee/Foreign Exchange Fee)
11:35 What are the spending and withdrawal limits?
14:03 Do you plan on implementing InstantSend functionality?
17:00 Which countries will the card be available on launch on in the future?
22:07 What is the website URL & when will it be up & running?
23:25 Can you buy and sell Dash on platform as well?
25:31 Why should people use your card and not the competition?
27:51 What are your plans to promote & market the Dash Pay Card?
30:16 Charlie, why Dash? Whats so special about Dash?
33:18 Can you tell me more about the Free card giveaway?

Charlie's Dash Pay Card Proposal - https://www.dashcentral.org/p/DASHPAYCARD-DEBIT-CARD

Dash London Conference - https://www.dashcentral.org/p/conf-dash-201708
 

Learn once and for all, there was no pre-mine in Dash!

Dash Instamine Issue Clarification:
Due to a number of questions about the so called Dash "instamine issue", the purpose of this document is to provide an official statement from the Dash team about this matter. Our intention is to provide Dash investors and users with information to help them understand the currency history and technical issues at the beginning of the project and draw their own conclusions on the impact.

Facts about the instamine:
1- There was no pre-mine in Dash
2- ~1.86MM first 24h, ~2.02MM first 48h according to https://chainz.cryptoid.info/dash/#@inflation
3- That represents approximately 10-15% of the total money supply that will ever be issued
4- This coin issue rate exceeded the published emission schedule by a wide margin

more details here: https://dashpay.atlassian.net/wiki/display/OC/Dash+Instamine+Issue+Clarification

Advice: the best wallet is the Dash Core v0.12.1.5
Warning: trust only in the DASH[DOT]ORG/WALLETS to choose the best wallet for you.
 

Thanks for the link. Curious to see what the end of this month will bring.

[tuapoma]

Dash News Weekly Recap – McGregor vs Mayweather, Blockcypher, Dash Labs & More!

DashForceNews: https://www.dashforcenews.com/dash-news-weekly-recap-mcgregor-vs-mayweather-blockcypher-dash-labs/

YOUTUBE: https://youtu.be/BO_GHyHpZEM

[tuapoma]

The average Bitcoin transaction fee ($10.17) is now more than twice the cost of Bitcoin itself ($5) in 2011. Nostalgia and inertia-fueled masochism: Using Bitcoin instead of DASH Digital Cash in 2017. Come on dudes, sub-penny transactions are fun!

great videos:
Dash sponsored Circus City in Bristol UK with Ed Rapley
https://youtu.be/_waMm5qmq9g

Dash Force News 3 Amigos Podcast E24 with Alex Werner from Dash Core: https://youtu.be/KP32FtnD1Q0

cheers

[tuapoma]

The Great American Pilgrimage with Stephen Baldwin & Max Keiser (PROMO)

via YouTube: https://youtu.be/CVPqjKfEgGg

[darkr]

Many of my friends, who bought DASH are happy dealing with this cryptocurrency. It has been growing and gives them profit. One of my buddies even stopped trading for several months to wait when this alt can rise.

[tuapoma]

BTC is dead and split, while BTCxBCH whales fight, the DASH Digital Cash is the best option!