Who or what moron is buying dash at these prices

[misterbigg]

Clearly you need to do more research into your assement.

Are masternodes anonymous?

Funny how none of the Dash shills will answer this.

[qwizzie]

Clearly you need to do more research into your assement.

Are masternodes anonymous?

Funny how none of the Dash shills will answer this.

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

[misterbigg]

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

Can you prove to me that any subset of those masternodes are not controlled by the same person?

[qwizzie]

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

Can you prove to me that any subset of those masternodes are not controlled by the same person?

please answer my question

[misterbigg]

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

Can you prove to me that any subset of those masternodes are not controlled by the same person?

please answer my question

Sure, I'll answer (because I'm not trying to be evasive). No, I can't tell which masternode is yours. But I also cannot tell how many masternodes you own. For all I know, you own ALL the masternodes. Because with Dash masternodes are anonymous. Now I will ask my question again:

How do you prove that any subset of the masternodes are not controlled by the same person?

[Coinster]

Its a fact that Dash has an instamine history, this has never been denied. Official statements from Dash about the instamine go all the way back to 2014 but you have to realise that Dash
Founders were not the only people mining at the time and massive amounts of Dash were sold off on the markets early on as people did not see any value in it.

Thanks for the reply. Regarding others mining at the time, don't you think that can be problematic? Let's say I want to game the market and control a big percentage of a coin. I announce it so it seems fair and not premined. Everyone is all set. At the designated time, though, I say wait, there are bugs so the launch is delayed, remove your attention from this matter for at least X days (or weeks) while I fix things. Then later that night when everyone has gone to bed in most timezones I start mining. Maybe there are a couple other nightowls awake and see the activity. Still, however, I have the advantage of knowing exactly when to start (even nightowls wouldn't be ready right away). With such low competition I easily amass most of the coins created over several hours. So your statement about others mining wouldn't exactly set things right, see?

With regards to your last question :

Was The Instamine A Positive Thing For Dash?
https://dashdot.io/alpha/?page_id=118

According to that link the founder puts the instamine at around 2M coins. He then says this too:

“Early after the launch, the main exchange Dash (Xcoin at the time) was traded on was hacked and all coins were stolen then dumped on Poloniex. This was one of the darkest moments of our history and many people got hurt badly by this attack. However, this created another distribution event where hundreds of thousands of coins were sold in a period of about a day. Between this and the early distribution, we successful distributed the currency to a multitude of investors in record time. ”

Okay, let's say the founder received 1.5 million coins from the instamine and others mining at the time got the other 500K. The problem is even if the founder had 200K coins on the hacked exchange and the other early miners had say 200K on the exchange that would mean a total of 400K coins hacked and effectively distributed. Note the quote says 'hundreds of thousands' were distributed, not millions. That would mean with all official statements being true (others mining, hacked exchange with distribution and selling etc.) the founder could still hold 1.3 million coins from the instamine. See my point?

There is another problem. Due to the design of DASH, 'masternodes' apparently receive 45% of the block reward. Having a masternode requires having DASH currency. If the founder did have 1.3 million coins in the early days that would have been a very large percent of the total supply. Even if they sold another 300K that's still 1 million coins while at the time there may have been only ~2-3 million total in existence. That means the ability to control a large percentage of masternodes too, and automatically receive a constantly supply of new DASH being mined, forever.

Its really up to the individual investor to decide if Dash instamine history from more then three years ago should still play a role or not. Dash community has long long long ago moved on.

With all due respect, DASH still exists, and is actively pushing for new users apparently. The price rise means a lot of new people looking harder at DASH like myself. Are you suggesting we just move on? That sounds more like a push from being biased about not wanting to really look at the history. I don't know what the real story is. Only the founder knows 100%. However, I don't like that the launch of the coin was done in a way that looked very intentional for the founder "accidentally" ending up with a huge number of initial coins. Why not simply re-do the launch cleanly/fairly? Well, as you say people will need to decide the events for themselves.

[Shiroslullaby]

People were buying Zcash for over 1 Bitcoin when it first came out.
Nothing is logical in the altcoin market. Just a ton of people following trends trying to make a few dollars.
Marketing is the most important thing. Get hot and drive the price up while you can. Most people aren't paying attention to the technology.

That being said, maybe Dash will stick around. Healthy competition is always a good thing.
But they are definitely riding the hype wave right now.

[LLec]

Dash is the most well marketed scam I have ever seen except for the scam that is the Federal Government of the United States.

A scam? Any proof to post of this for all to see?
I didn't invest in them but was thinking about it.
Now if there was some proof in this and anyone seeing it collapsing soon then I will be sure everyone here would like to know it too.

[dinofelis]

Dash is the most well marketed scam I have ever seen except for the scam that is the Federal Government of the United States.

I fully agree with you, and this is why it is going to be extremely successful.  People just love scammy winners.

[ArticMine]

Bulls make money, Bears make money, Pigs get slaughtered
https://www.fool.com/knowledge-center/bulls-make-money-bears-make-money-pigs-get-slaught.aspx
Watch the DASH/XMR market
https://bitcointalk.org/index.php?topic=753252.msg18203247#msg18203247

[dinofelis]

There are now 7,166,498 DASH coins according to coinmarketcap.com. If the founder(s) instamined 1.5 million coins it would mean holding at least 21% of the currency supply.

Much more, because DASH is a half PoS system, and masternodes, which you can buy for 1000 DASH (back in time, I think it was 5000 DASH) take 45% of the mining rewards for them.  So if you own all master nodes, you get 45% of the new coins too.
Compound interest formula, and you find that the instamine must have, if always re-invested in master nodes, close to 50% of the stash.

Of course, it is possible that the instaminers spend all their holdings on cocaine and prostitutes when DASH was at $3.- and that the coins are now redistributed.

[Spoetnik]

Dash is the most well marketed scam I have ever seen except for the scam that is the Federal Government of the United States.

Hell no.. this price rise has been damn near SILENT.
As usual you are posting retarded bullshit here bud..

Ethereum wins that title hands down !

Anyway i just looked now at the price and holy tap dancing christ $96.20

3    Dash    $689,453,847    $96.20

Just WOW.. and no i myself would not be buying them right now.
But who knows how hard this shit is gonna get pumped.
It would be far too risky for my taste though..

Bloody insane shit we're seeing !

[Coinster]

Much more, because DASH is a half PoS system, and masternodes, which you can buy for 1000 DASH (back in time, I think it was 5000 DASH) take 45% of the mining rewards for them.  So if you own all master nodes, you get 45% of the new coins too.
Compound interest formula, and you find that the instamine must have, if always re-invested in master nodes, close to 50% of the stash.

Yes, I'm still learning the history and design of DASH. The masternodes certainly mean an advantage for someone holding a large percentage of coins, and it just so happens the founder accidentally ended up with a large amount of coins at the beginning. Another thing I find interesting is that masternodes get 45% of new coins. Why 45%? I mean I think it's an interesting design to have masternodes in the first place (I think DASH invented this). They perform the mixing as I understand it. However, isn't that a bit high of a payment for mixing?

Of course, it is possible that the instaminers spend all their holdings on cocaine and prostitutes when DASH was at $3.- and that the coins are now redistributed.

That doesn't make sense to me. If I held 1 to 1.5 million DASH from initial instamine plus a never ending supply of new DASH from masternodes (which I'd obviously set up) then at $3.00 price I'd have somewhere in excess of $4.5 million with new money always coming in from mining. This doesn't include having 10% automatically going into DASH treasury to pay for marketing. Even if I loved prostitutes and cocaine there is no way I'd blow through over $4 million on them. Just spending $100K would be plenty and leave me in control of a large part of DASH market for the future. To be fair to DASH supporters all this is speculation, but surely anyone would agree the founder would be in a pretty sweet position at the minimum and downright in control of a market monopoly at the worst.

[Minecache]

The sooner this dashite crashes the better.

[ulhaq]

Its a fact that Dash has an instamine history, this has never been denied. Official statements from Dash about the instamine go all the way back to 2014 but you have to realise that Dash
Founders were not the only people mining at the time and massive amounts of Dash were sold off on the markets early on as people did not see any value in it.

Thanks for the reply. Regarding others mining at the time, don't you think that can be problematic? Let's say I want to game the market and control a big percentage of a coin. I announce it so it seems fair and not premined. Everyone is all set. At the designated time, though, I say wait, there are bugs so the launch is delayed, remove your attention from this matter for at least X days (or weeks) while I fix things. Then later that night when everyone has gone to bed in most timezones I start mining. Maybe there are a couple other nightowls awake and see the activity. Still, however, I have the advantage of knowing exactly when to start (even nightowls wouldn't be ready right away). With such low competition I easily amass most of the coins created over several hours. So your statement about others mining wouldn't exactly set things right, see?

With regards to your last question :

Was The Instamine A Positive Thing For Dash?
https://dashdot.io/alpha/?page_id=118

According to that link the founder puts the instamine at around 2M coins. He then says this too:

“Early after the launch, the main exchange Dash (Xcoin at the time) was traded on was hacked and all coins were stolen then dumped on Poloniex. This was one of the darkest moments of our history and many people got hurt badly by this attack. However, this created another distribution event where hundreds of thousands of coins were sold in a period of about a day. Between this and the early distribution, we successful distributed the currency to a multitude of investors in record time. ”

Okay, let's say the founder received 1.5 million coins from the instamine and others mining at the time got the other 500K. The problem is even if the founder had 200K coins on the hacked exchange and the other early miners had say 200K on the exchange that would mean a total of 400K coins hacked and effectively distributed. Note the quote says 'hundreds of thousands' were distributed, not millions. That would mean with all official statements being true (others mining, hacked exchange with distribution and selling etc.) the founder could still hold 1.3 million coins from the instamine. See my point?

There is another problem. Due to the design of DASH, 'masternodes' apparently receive 45% of the block reward. Having a masternode requires having DASH currency. If the founder did have 1.3 million coins in the early days that would have been a very large percent of the total supply. Even if they sold another 300K that's still 1 million coins while at the time there may have been only ~2-3 million total in existence. That means the ability to control a large percentage of masternodes too, and automatically receive a constantly supply of new DASH being mined, forever.

Its really up to the individual investor to decide if Dash instamine history from more then three years ago should still play a role or not. Dash community has long long long ago moved on.

With all due respect, DASH still exists, and is actively pushing for new users apparently. The price rise means a lot of new people looking harder at DASH like myself. Are you suggesting we just move on? That sounds more like a push from being biased about not wanting to really look at the history. I don't know what the real story is. Only the founder knows 100%. However, I don't like that the launch of the coin was done in a way that looked very intentional for the founder "accidentally" ending up with a huge number of initial coins. Why not simply re-do the launch cleanly/fairly? Well, as you say people will need to decide the events for themselves.

The lack of clarity around the masternodes is amazing. The only thing that seems agreed upon is that a small group of people control the majority of the supply. Whether or not there is a fixed limit on the number of masternodes, since it takes so much currency to have one, there is a de facto limit, and so there is centralisation.

Yes, the premine situation was a fiasco. Maybe it was a deliberate attempt by the founder to control the supply in perpetuity. They should have scrapped the project and started over, instead of allowing hundreds of thousands to millions of coins to be unfairly taken by a small group. Some are offput by that and will not use/invest in dash. But if there is value in what dash is and can do now, and ppl are willing to overlook this blemish (or don't know about it), then dash can continue to grow and be viable. But that's not the issue. The problem is that we have a currency that is largely controlled by a small group of ppl, with factors intrinsic to the currency design that prevent others from getting in. Centralisation is an anathema to cryptocurrency. Not only will you have decisions that are not in the best interest of the currency being made, but if the allegations are true that the founder unfairly and intentionally pilfered a plurality of the currency, and said founder is still in control, then what other decisions based on personal gain will be made?

[dopamine]

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

Can you prove to me that any subset of those masternodes are not controlled by the same person?

please answer my question

Sure, I'll answer (because I'm not trying to be evasive). No, I can't tell which masternode is yours. But I also cannot tell how many masternodes you own. For all I know, you own ALL the masternodes. Because with Dash masternodes are anonymous. Now I will ask my question again:

How do you prove that any subset of the masternodes are not controlled by the same person?

Epic fail. Can't tell him which masternode is his LOL

[irukandji]

Out of the 4014 masternodes currently active .. can you tell me which one is mine ?

Can you prove to me that any subset of those masternodes are not controlled by the same person?

please answer my question

Sure, I'll answer (because I'm not trying to be evasive). No, I can't tell which masternode is yours. But I also cannot tell how many masternodes you own. For all I know, you own ALL the masternodes. Because with Dash masternodes are anonymous. Now I will ask my question again:

How do you prove that any subset of the masternodes are not controlled by the same person?

Epic fail. Can't tell him which masternode is his LOL

I don't see why that is a fail. He has a good point.

Seeing as the instamine appeared to be deliberate, and that Evan Duffield deceived people about the timing, and released early, I'd say it's very likely that a small number of people control a lot of the Master Nodes.

But at the end of the day we don't know.

The circumstantial evidence is that Evan deceived people so he could control a lot of coins. Otherwise why would he have reduced the number of coins so much after the instamine?

I've never seen any other explanation that makes sense. But feel free to explain why he would reduce the number of coins after he was involved in the instamine.

A huge number of coins were distributed to a small number of people, whilst others were lied to and so missed the instamine. But then to make things worse the total number of coins was vastly reduced.

I hope that a lot of small people make money out of Dash. The more the better I think. tha's what has been so good about crypto. Lots of small people have been able to benefit. But, Evan tried to make a small number of insiders benefit

[dinofelis]

The lack of clarity around the masternodes is amazing. The only thing that seems agreed upon is that a small group of people control the majority of the supply. Whether or not there is a fixed limit on the number of masternodes, since it takes so much currency to have one, there is a de facto limit, and so there is centralisation.

Indeed, and I think this is the hidden power of DASH.  It is a private fiat currency, mimicking as a crypto currency.  Because if you hold the keys to the voting system, you can do ANYTHING if you want to, including inventing a block that assigns you an extra 5 million coins.  This is a central bank system.  And these systems work well, and make their owners also very rich.  But it is also a payment system that will work much better than one where there is true decentralization, with all the burden it brings.

Centralisation is an anathema to cryptocurrency. Not only will you have decisions that are not in the best interest of the currency being made, but if the allegations are true that the founder unfairly and intentionally pilfered a plurality of the currency, and said founder is still in control, then what other decisions based on personal gain will be made?

Well, he is still limited by the credibility of his decisions, and has to keep up the monetary belief.  Just like the governor of a central bank cannot just start printing like crazy without harming the value of its currency.  But that's about it.  

[dinofelis]

How do you prove that any subset of the masternodes are not controlled by the same person?

Epic fail. Can't tell him which masternode is his LOL

I don't see why that is a fail. He has a good point.

Indeed, the question is rather the opposite: as there is circumstantial evidence that at a certain point Evan Inc must have had a large fraction of the coins, and as this is amplified with the masternode PoS system, it would be rather natural that Evan Inc controls about half of the coins and an even larger percentage of masternodes (not all coins are in master nodes).  As such, he also has almost full certainty to have full control over the development voting system (and the 10% budget that it has).

In other words, simply accounting for the coins he must have, unless spent a lot, he must be in total control of the community, and of about half of the master nodes at least.

This is a bit like using a Tor-bis network of which all nodes are owned by the FBI.

[Spoetnik]

Dino are you and the other forgetting the pother coins "hold the keys" too ?
Ya know it's stupid sitting here harping on ONLY about Dash when they all do it..
It reeks like agenda here.. open a window  

Evan is the big bad evil monster ?

Then what the fuck is Risto / rpietila from Monero then ?

One difference that jumps out at me is one is allegedly not even apart of the team.
When he is and.. they have lied their ass off about since the coin started 3 years ago.
But hey.. let's just put our little Monero blinders on and rail on about Dash right ?

And when you look at most of these coins + schemes they are *ALL* controlled by 1 entity.
Wanna talk about keys Dino ?

What about Github account passwords ?
And the fact that Github is FULLY 100% US govt compliant.

You guys spend all your time dancing around spotlighting 1 coin etc when 90% are the same.
THEN you have the nerve to accuse me of doing that.. when all i am doing is posting what i said above.