Bitcoin problems are pushing me to Dash ! Thanks Amanda Johnson

[Technologov]

Hi all !

ATTENTION !

Due to Bitcoin community stupidity, lack of progress, and on-going scalability problems of the Bitcoin Network, I have decided to sell a large chunk of my
Bitcoin holdings for a combination of cash, Dash and Ethereum. (--mostly Dash)

This came after few days ago several of my Bitcoin transactions took 3 hours to complete rather than 10 minutes normally (and one transaction
took as long as 26 (!!!) hours to complete due to an artificially limited block size in Bitcoin.

I see the problem as a very fundamental problem in the Bitcoin network, that might resolve itself, or it might not. In which case bitcoin Network will go the Way of The Nokia. There is a theoretical technical solution to this problem (just like Nokia could turn-around itself during 2011/2012 era, but didn't), but politics and dumbness of the Bitcoin community prevent solution from happening.

More info:
https://medium.com/@ViaBTC/why-we-must-increase-the-block-size-and-why-i-support-bitcoin-unlimited-90b114b3ef4a

Bitcoin’s Transaction Backlog Hits All-Time High
https://www.cryptocoinsnews.com/bitcoins-transaction-backlog-hits-all-time-high/

Former Bitcoin Developer Hearn Calls Bitcoin A Failure, Sells All Coins
http://allcoinsnews.com/2016/01/15/former-bitcoin-developer-hearn-calls-bitcoin-a-failure-sells-all-coins/
https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.pijdkhwd4

--
-"Technologov"

Additionally: I really like "Amanda Johnson" and her Dash school on YouTube. She convinced me to invest in Dash and give it a chance. (Without her I would go more into Litecoin, Ethereum and Fiat dollars)

Here is a Dash channel on YouTube:
https://www.youtube.com/channel/UCAzD2v9Yx4a4iS2_-unODkA

I was aware of Dash since 2014 (Darkcoin back then), but didn't pay too much attention, because it's only feature over Bitcoin at the time was coin-mixing, a feature I wasn't interested in, at the time.

When did other features appeared ?

paying to full nodes ?

voting by Master-nodes ?

paying to employees ?

instantSend ?

Additionally, I'm willing to invest in Dash-Electrum development. (Since I'm a Bitcoin Electrum user right now, and like SPV light wallets in general) How is that proceeding, and what it's status ? Would a donation help to develop it faster ?
For me, the Bitcoin slow transaction debacle is a catastrophe, but perhaps also a new beginning...

Plus I'm calling a large blocks solution for Bitcoin -- be it classic, XT, Unlimited or whatever else. Bigger blocks is a must !

[1714240388]

1714240388

[1714240388]

1714240388

[cryptohunter]

some light reading for you on your new investment...............


https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

[robelneo]

some light reading for you on your new investment...............


https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

https://bitcointalk.org/index.php?topic=1740313.0

I hope he reads all this thread and done a good research since he already sold a big chunks of his bitcoin,he will be another dash shill and a bitcoin fud in the coming days,just to hype his coin and his new investment but I doubt if there are many people like you who will sold all his bitcoin for a shitcoin..

[pereira4]

Wait, so you think Amanda B Johnson, a former car seller that knows nothing about technology, has a better idea in how to scale a decentralized network than cryptography and coding legends such as Adam Back, Nick Szabo, or Gregory Maxwell?

Amanda B Johnson and Roger Ver... those are your influences in order to invest?

Wait, you mentioned Mike Hearn too?

Is this some kind of sick fucking joke?

The Core roadmap is already set and is the best one. You can blame miners. If we got segwit, then we would get a block size increase to 2MB too, and then lightning and sidechains can begin.

So miners will decide. Apparently the market is ok with bitcoin remaining gold 2.0 since the price keeps growing anyway.

[arielbit]

just look how amanda started scratching and gets the blank expression when she started discussing Zcash and monero comparison to DASH privacy..

https://youtu.be/8GwsmnHE3Rk?t=503

good luck!

[Technologov]

I don't trust Adam Back, Nick Szabo, or Gregory Maxwell.

Those are some one else's legendary heroes, definitely not my heroes.

I trust more Roger Ver, Amanda Johnson, Mike Hearn, Vitalik Buterin and -- most importantly -- my own judgement.

And my brain tells me that Adam Back, Nick Szabo, Gregory Maxwell (and Peter Wuelle) are all WRONG. (just like all Ripple developers, that are trying to centralize the crypto space and take my liberty away; It won't fly here. Not with me and not with my fellow investor-friends).

====

Fundamental problem with Bitcoin: Lightning Network leads to centralization and less security
http://www.wallstreettechnologist.com/2016/10/03/lightning-network-will-it-save-bitcoin-or-break-it/

[generalizethis]

I don't trust Adam Back, Nick Szabo, or Gregory Maxwell.

Those are some one else's legendary heroes, definitely not my heroes.

I trust more Roger Ver, Amanda Johnson, Mike Hearn, Vitalik Buterin and -- most importantly -- my own judgement.

And my brain tells me that Adam Back, Nick Szabo, Gregory Maxwell (and Peter Wuelle) are all WRONG. (just like all Ripple developers, that are trying to centralize the crypto space and take my liberty away; It won't fly here. Not with me and not with my fellow investor-friends).

So your solution to your fear of centralization is to invest in a coin that has one of the worst centralization schemes? Good luck with that.

[iamnotback]

So your solution to your fear of centralization is to invest in a coin that has one of the worst centralization schemes? Good luck with that.

And don't forget the high school level math error for the probability of attack for the security in the InstantX white paper that I discovered and Evan couldn't refute.

Afaik Dash's core technology is barely functional trash (or has that recently changed?). Their UIs may be good (?), I've never looked. They are reasonably better though at marketing to the speculators.

Hopefully Dash will get some serious competition from some serious technology in its claimed areas of superiority within this year, coupled with some serious marketing. And we can put this Dash "scam"embarrassment to death finally. Since I am responsible for helping Evan see his CoinJoin error at the start and giving him the inspiration for masternodes, then I guess I am responsible for this debacle. So perhaps I feel a duty to end it as well.

Good luck with your Dash investment. I think you actually may profit quite well in the near-term.

[Technologov]

Bitcoin has problems that are worse than anything else: namely the (lack of) scalability. 3 hour transactions.

Segwit will not fix any of that -- maybe it will delay the bottleneck for 6-to-12 months, at best.

Lightning Network has too many problems (both security and centralization), as described in this paper:
http://www.wallstreettechnologist.com/2016/10/03/lightning-network-will-it-save-bitcoin-or-break-it/

As far as I'm concerned getting huge blocks (1 gigabyte; 1000x times more than today) + SPV wallets is the reasonable path going forward.

144 blocks /day x 1 GB = 144 GB/day, or 52 TB/year in block size.
Only data centers or powerful rich-users work-stations will be able to hold that, but with SPV wallets it seems secure.

Also 52 TB's DB is doable using 10 TB hard disks, perhaps in disk array for advanced home users putting $10,000 workstations at home.
Much better than getting "central hubs".

And SPV wallets (Electrum) seem secure...

Dash, unlike Bitcoin, subsidize not only miners but also full-nodes. With a subsidy, buying several hard drives for big fat blocks is doable.

So yes, achieving on-chain scalability, de-centralization and reasonable fees (under $0.30/transaction) is possible.

I'm also wondering if there's a way to periodically re-generate a new genesis block (to delete previous history), keep balances and re-compute few blocks after-wards. This will improve disk space concerns. (but not network traffic)

[generalizethis]

Bitcoin has problems that are worse than anything else: namely the (lack of) scalability. 3 hour transactions.

Segwit will not fix any of that -- maybe it will delay the bottleneck for 6-to-12 months, at best.

Lightning Network has too many problems (both security and centralization), as described in this paper:
http://www.wallstreettechnologist.com/2016/10/03/lightning-network-will-it-save-bitcoin-or-break-it/

As far as I'm concerned getting huge blocks (1 gigabyte; 1000x times more than today) + SPV wallets is the reasonable path going forward.

144 blocks /day x 1 GB = 144 GB/day, or 52 TB/year in block size.
Only data centers or powerful rich-users work-stations will be able to hold that, but with SPV wallets it seems secure.

Also 52 TB's DB is doable using 10 TB hard disks, perhaps in disk array for advanced home users putting $10,000 workstations at home.
Much better than getting "central hubs".

And SPV wallets (Electrum) seem secure...

Dash, unlike Bitcoin, subsidize not only miners but also full-nodes. With a subsidy, buying several hard drives for big fat blocks is doable.

So what?

2 million coin instamine + coin reduction + coin stake governance system = centralization

If dash can't deliver on it's decentralized governance promise, then why should anyone believe they can deliver on any of their other nostrums? BTW I have a bridge I can sell you

[iamnotback]

Dash, unlike Bitcoin, subsidize not only miners but also full-nodes. With a subsidy, buying several hard drives for big fat blocks is doable.

Afaik, Bitcoin subsidizes mining farms who have a cost basis per BTC mined which is a fraction of the BTC price.

Bitcoin can handle higher volumes by centralizing mining. It is coming, don't worry. It must.

Dash is already centralized, so whoopie doo. Bitcoin will centralize, then Dash has no advantage.

Anyone can make a centralized ledger and obscure the centralization by replicating 3000 copies of a program controlled by the same insiders and calling those masternodes. The hard part is making a decentralized system that scales. No blockchain has that yet. None.

[Technologov]

Okay, if you were running away from Bitcoin, where would you run ? Fiat ? Gold ? Other crypto-coin ? And why ?

Bitcoin stopped providing me a service. Sorry, but a 3 hour transaction time is a dis-service.
That's not why I bought it for, back in 2013. I was promised a 10-minute transactions back then.

And even if no other crypto (besides Bitcoin) would ever exist, I would sell my bitcoins anyway.

[iamnotback]

You've asked a good question. You aren't the only person who has this unanswerable question.

I am staying in Bitcoin for the current run. I don't know what I am doing after that. Trying to bust my butt to make a project myself. I don't have a good answer.

Perhaps you can explain why Monero wasn't your choice? As you I presume know, at least its block size adjusts upward due to demand and it is a PoW system like Bitcoin.

[Technologov]

Monero focuses less on GUI. I am buying it, but in small amounts. I want an easy to use drop-in replacement for Bitcoin, if possible.

Dash should come clean and admit about it's pre-mine of course.
 
I think that partial pre-mine is fine (Vitalik from Ethereum also did it. After all he can't work for free. And I can't expect him to work for free).

Full pre-mine, like in Ripple is a no-no, of course.

[iamnotback]

I think that partial pre-mine is fine (Vitalik from Ethereum also did it. After all he can't work for free. And I can't expect him to work for free).

Evan didn't stop at the premine. He has allegedly levered that into an ongoing extraction of $millions from ecosystem. All that for a GUI?

Vitalik et al produced what? Casper will never work. The DAO failed. After much wrangling they didn't solve any of the intractable problems.

I mean if Vitalik et al had continued hacking in their parents' basements and earned maybe $100k each per year. Then I would say his effort was worth it.

Okay I hear that he popularized blockchains and brought a lot of new capital into the ecosystem. Maybe that is true. So maybe we can justify the $millions expended. Maybe. I am not sure.

Can we make the same argument for Dash?

Re: Stay away from ICO

Who cares if Monero and Dash are scams when you can make good money on every pump and dump.

Scammers take capital out of the ecosystem and spend it on crack, Yachts, booze, and prostitutes.

You personally may get richer (if you are a good speculator), while on average the ecosystem gets poorer, unless of course we are bringing more new fools (and their capital) into our ecosystem from outside of it.

So eventually there could be no ecosystem remaining for you to speculate in.

My opinion is we have a window of time (5 - 10 years?) within which to leverage this opportunity to produce something really significant that could help the world. And to produce a $trillion marketcap.

Any way, please continue what you are doing. Hopefully those who developers who are serious will find a way to operate within this ecosystem so we don't lose the potential.

[The Sceptical Chymist]

Here we go with another Dash vs. The World thread.  It's already got ugly written all over it.

All I have to say to OP is this:  Look at the price of Dash right now.  You're probably doing the equivalent of buying bitcoin at its peak in 2013.  Now is probably the absolute worst time to buy Dash--and I'm not anti-Dash by any means.

[Technologov]

except pre-mining, are there other severe flaws in Dash in your opinion?

[uneng]

That is your investmnet, good luck, but I don't think a good idea to stop with bitcoins to place all your tickets for an altcoin or two... You are losing a lot of money doing this, as the biggest safe profit is made with bitcoins, the better of all crypto currencies.
The currently problems won't last forever, they will be solved, and when this happen bitcoin will become more powerful than ever.

[bbc.reporter]

I do not know how Evan Duffield can still get away with his secret premine. Now we have someone posting a thread about the inability of bitcoin to solve its scaling problems while he is also trying to say that Dash is the better cryptocoin. Amusing.

Evan goes to conferences and organizes some of them right? What do you the people say to him? Do they tell him what he is doing is wrong?

[qwizzie]

I do not know how Evan Duffield can still get away with his secret premine. Now we have someone posting a thread about the inability of bitcoin to solve its scaling problems while he is also trying to say that Dash is the better cryptocoin. Amusing.

Evan goes to conferences and organizes some of them right? What do you the people say to him? Do they tell him what he is doing is wrong?

Monero tried that once, they sent dnaleor to a Bitcoin event in october 2015 where Dash held a presentation when the budget system just
became operational (Dash had a marketcap of 14 million back then).

For me that was the first time it became evident how fanatic some of these Monero trolls really are. And not just on this
forum but also in real life. We got a good laugh out of it though (i was there too). It is funny to see these trolls still try to make
it like Dash was premined, like the word alone would cause damage to Dash somehow. Its a bit pathetic to be honest.
To those trolls who are a bit slow of wit, here is a simple rule to remember  : premine no, instamine yes.

Its kinda hard to tell someone like Evan that what he is doing is wrong when it is crystal clear that what he is doing is actually pretty darn good,
something the market is noticing and rewarding accordingly.

To OP : welcome to Dash, feel free to visit us in our Dash ANN thread or in our Dash.org/forum and also i think the problems that
you encountered with Bitcoin are exactly the same problems that made Amanda switch from Bitcoin to Dash (that and the digital cash
aspects in Dash and its governance system which Amanda seems to find intriguing).