Dash on the rise again

[thejaytiesto]

Are you kidding me? who the hell is pumping this thing again? Is Roger Vermin still pumping it? Crazy times for this coin. I thought it was over, but it keeps hitting all time highs. I suspect node runners are going to start dumping slowly to test the market, but they will get nervous quick if it keeps growing, then we are going to see some serious shit.

Still I see 0 reasons why Dash is pumping so freaking hard (other than good marketing)

[Coinster]

Still I see 0 reasons why Dash is pumping so freaking hard (other than good marketing)

I've been trying to figure out the rise too, so I started reading these threads. From what I can tell the creator holds like 45% of the coin!(?) If that's true then it's easy to make the price rise, especially with a dedicated marketing budget. All you do is don't sell and when the price starts going up others jump onboard to catch the ride, but you don't sell and the price goes up again, and more people see it going up so they jump on too! It's a strong upward cycle, but it doesn't last if the large coin holders actually start trying to cash out.

[Geraldo]

67$ per dash as of now.. Really regret selling mine at 32$.. Could have doubled my money. And who knows how high it will go before drpping on its face.

[Ayers]

i think some have sold their btc because of the failed EFT and bought dash instead of buying cheap bitcoin, now they are pumping it again to make good profit, but i can't think it will go any higher i smell a dump is coming soon enough

[giveen]

Don't worry it currently doesn't have so much market cap so many huge investors are taking advantage of that point and they are using it as a part time just wait for some time you will soon see the price coming back to normal.

[Coinster]

i smell a dump is coming soon enough

If they are doing what I think they're doing the dump may not be large, as that would spook the market. This is the advantage of holding such a huge stake. You can cash out a bit at a time without really killing the market. Meanwhile you get all the free publicity of the price rise and position, I mean Dash is now 3rd under Bitcoin and Ether. That's crazy.

[qwizzie]

Dash has this really great talent of rising in price when people least exspect it....

[amacar2]

Almost all Alts are green right now including DASH because bitcoin ETF got declined. I think some whales are trying to dump their big bags of DASH soon on the market which will surely cause a big dump on the price. Better not to buy any DASH at this peak price.

[Coinster]

Almost all Alts are green right now including DASH because bitcoin ETF got declined.

Green?!? Dash is up 33% in like one day. That's nuts.

[Propulsion]

Dash has this really great talent of rising in price when people least exspect it....

It's almost like it's unpredictable. 

[joae1975]

I'm selling some at $88.  Because at that point, all my debts and bills are paid and I can start over.

[ulhaq]

From what I can tell the creator holds like 45% of the coin!(?)

How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?

[Come-from-Beyond]

From what I can tell the creator holds like 45% of the coin!(?)

How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?

We use dollars 90% of which are owned by a small group of people...

[mindrust]

They are simply printing money out of thin air. Just like Ethereum did. The other dude above explained it very well. They are manipulating the markets like a pro. They hold so many dash so they can cash out from the pump which they created, and pump again without a harm. Brilliant.

[ulhaq]

From what I can tell the creator holds like 45% of the coin!(?)

How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?

We use dollars 90% of which are owned by a small group of people...

That was not due to initial distribution, it was the combined result of a capitalistic system, large disparities in skill/education, economic incentives to the wealthy, and centuries of time.

They are simply printing money out of thin air.

The supply of cryptocurrencies like BTC and ethereum are tightly controlled, and cannot be changed unless 51% of miners agree. Does dash work differently?

[misterbigg]

Well as of right this second, 62% of all DASH trading is happening on Poloniex, in the DASH/BTC pair. I think this means that the price appreciation is almost all speculation and not based on usage of the coin in commerce. Note that Poloniex trades are not taxable events (due to IRS section 1031 "like-kind" transfers). The cost basis is transferred over and you only pay tax when you convert to fiat or exchange the cryptocurrency for goods and services (*). So moving between cryptos is likely very popular.

(*) I'm not an accountant or tax expert, do your own research.

[mindrust]

From what I can tell the creator holds like 45% of the coin!(?)

How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?

We use dollars 90% of which are owned by a small group of people...

That was not due to initial distribution, it was the combined result of a capitalistic system, large disparities in skill/education, economic incentives to the wealthy, and centuries of time.

They are simply printing money out of thin air.

The supply of cryptocurrencies like BTC and ethereum are tightly controlled, and cannot be changed unless 51% of miners agree. Does dash work differently?

Tbh, I don't know if that's the case with bitcoin and eth, but (Eth is most likely, since its an altcoin) i have read that dash devs hold many premined dash in their hands. That must be a handy thing for market manipulations.

[Spoetnik]

Yeah WOW holy crap ! i see $67.36 now  

And i said the ETF thing might get rejected earlier too so i am not too surpised.


EDIT:

@mindrust
You are thinking of Ripple.
They did that not long ago unleashing 333 million coins on the market silently with no explanation.
Which just so happened to be enough to bump them up the coinmarketcap rankings 

[K~Ehleyr]

Wow, so many people posting about a subject they clearly know nothing about 

[Coinster]

From what I can tell the creator holds like 45% of the coin!(?)

How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?

The founder(s) of the coin seem to clearly hold a large disproportionate amount of the coin. I don't know how large. Nobody can possibly know due to the anonymity of cryptocurrency. This is why it's necessary for a FAIR coin launch to be publicly announced before the start, and to proceed without weird technical glitches, such as Windows mining code, which would be popular, having bugs preventing mining and giving a huge headstart to anyone capitalizing on the bugs with effective miners.

Since anyone can lie or twist reality with half-truths, a fairly launched coin will have zero or very little controversy surrounding it. I think Litecoin is an example of this. Even Bitcoin is accused of some unfair mining advantage by Satoshi. DASH clearly has a lot of controversy around the launch. I've only been reading into it a little while but objectively I tend to think the founder(s) have a huge amount of the coin from the earliest beginning.

Here is the first thread to look at: https://bitcointalk.org/index.php?topic=999886.0

1. Within the very first hour over 500,000 coins were mined

2. Within 8 hours over 1.5 million coins were mind, which is most of the instamine.

On the matter of the instamine itself, to focus on the amount of the instamine and the subsequent disposition of the coins is to ignore a whole host of extremely deceptive and arguably fraudulent practices that surrounded it:

3. That Evan misled people into thinking that the launch would not happen for days (and specifically "definitely" not in "hours"), then it happened in a few hours, late at night in the US and during the early morning hours in Europe. Considering the >500K coins mined in the very first hour alone, the effect of this "ambush" was enormous.

4. That the stated reason for delaying the launch for days was to do more testing and fix bugs. Yet when the coin was lunched it still had a "serious error." ...

Now there are of course two sides to every story, but even the coin founder seems to agree there was something unfair about the launch:

https://bitcointalk.org/index.php?topic=559932.0

The first 24 hours of the coins existence keep causing us problems, an "airdrop" could be a solution to this.

...

Vote!

Sorry, this was a terrible idea.