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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 9723728 times)
tungfa
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January 29, 2016, 01:42:50 AM

Daniel Diaz (Dash Business Dev) / @Minotaur will be on the
Tatiana Show this Tues. (on Liberty.me & The LTB Network)

Save the date !

https://liberty.me/podcast/tatiana-show/
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January 29, 2016, 01:46:29 AM

AA is a bitcoin maximalist. He believes that anything an altcoin can do bitcoin can do either as bitcoin or on a sidechain and bitcoin will ultimately be the one world currency because network effect. I used to be a bitcoin maximalist in no small part due to AA's influence. However the blocksize debacle quickly disillusioned me on that. If bitcoin cant raise the fucking blocksize how the fuck are they going to implement instantx or whatever?

Anyway if sidechains can actually work(a big if in my book) I see no reason dash couldnt be a sidechain. The masternodes can be staked in bitcoin and be paid in fees. Even budgets could be funded with fees. We are already paying for those things in inflation, there is no reason they couldnt be paid for in fees if people really wanted a dash sidechain.
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January 29, 2016, 01:47:57 AM

iPhone Pieps : CoinCap - Real Time CryptoCurrency Market Data App

https://itunes.apple.com/gb/app/coincap-real-time-cryptocurrency/id1074052280?mt=8
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January 29, 2016, 02:15:23 AM


My ears heard the word Dash a couple times... Good to hear (insert longest name ever) give Dash a shoutout

He's done a great job of maintaining his neutrallity over the diversity of offerings and not getting bogged down in politics I think. At the same time he's been able to highlight lots of advantages in the various camps.

Not an easy balancing act considering he must get lobbied to death by all the competing factions for him to plant his flag with some alt or other.

True, I have heard AA talk for days about bitcoin and the technical details, but don't recall him mentioning altcoins at all before now.

Not that I was keeping count, but I heard him say the word Dash at least twice, and Monero zero times...

Well, he also tweeted this -> https://twitter.com/aantonop/status/690558193731244032

To me it seems like he sees most altcoins negatively, because in his view they could be added as sidechains anyway. I know eduffield said DASH won't become a sidechain itself, but that won't stop anyone from integrating it as a sidechain.

lol because it can / will be integrated so easily /s

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January 29, 2016, 02:24:06 AM


My ears heard the word Dash a couple times... Good to hear (insert longest name ever) give Dash a shoutout

He's done a great job of maintaining his neutrallity over the diversity of offerings and not getting bogged down in politics I think. At the same time he's been able to highlight lots of advantages in the various camps.

Not an easy balancing act considering he must get lobbied to death by all the competing factions for him to plant his flag with some alt or other.

True, I have heard AA talk for days about bitcoin and the technical details, but don't recall him mentioning altcoins at all before now.

Not that I was keeping count, but I heard him say the word Dash at least twice, and Monero zero times...

Well, he also tweeted this -> https://twitter.com/aantonop/status/690558193731244032

To me it seems like he sees most altcoins negatively, because in his view they could be added as sidechains anyway. I know eduffield said DASH won't become a sidechain itself, but that won't stop anyone from integrating it as a sidechain.

lol because it can / will be integrated so easily /s



From what I can tell, the infrastructure of elements (the first sidechain) is completely being ran by blockstream. Doesn't that make the whole sidechain centralized and prone to regulation? I'm curious, I haven't really heard anyone talk about it from that angle. I suppose anyone can run nodes voluntarily, but then that brings us back to the same model that is broken in Bitcoin (higher bandwidth == lower full nodes == more centralization). Maybe they could use the fees from transactions on the network, to pay for the infrastructure as well? That seems unlikely because it would make their company less profitable.

Dash - Digital Cash | dash.org | dashfoundation.io | dashgo.io
wackyD
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January 29, 2016, 02:31:51 AM


My ears heard the word Dash a couple times... Good to hear (insert longest name ever) give Dash a shoutout

He's done a great job of maintaining his neutrallity over the diversity of offerings and not getting bogged down in politics I think. At the same time he's been able to highlight lots of advantages in the various camps.

Not an easy balancing act considering he must get lobbied to death by all the competing factions for him to plant his flag with some alt or other.

True, I have heard AA talk for days about bitcoin and the technical details, but don't recall him mentioning altcoins at all before now.

Not that I was keeping count, but I heard him say the word Dash at least twice, and Monero zero times...

Well, he also tweeted this -> https://twitter.com/aantonop/status/690558193731244032

To me it seems like he sees most altcoins negatively, because in his view they could be added as sidechains anyway. I know eduffield said DASH won't become a sidechain itself, but that won't stop anyone from integrating it as a sidechain.

lol because it can / will be integrated so easily /s



From what I can tell, the infrastructure of elements (the first sidechain) is completely being ran by blockstream. Doesn't that make the whole sidechain centralized and prone to regulation? I'm curious, I haven't really heard anyone talk about it from that angle. I suppose anyone can run nodes voluntarily, but then that brings us back to the same model that is broken in Bitcoin (higher bandwidth == lower full nodes == more centralization). Maybe they could use the fees from transactions on the network, to pay for the infrastructure as well? That seems unlikely because it would make their company less profitable.

Agreed. And it would be a monumental effort to get this working as a sidechain..

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January 29, 2016, 02:33:03 AM

iPhone Pieps : CoinCap - Real Time CryptoCurrency Market Data App

https://itunes.apple.com/gb/app/coincap-real-time-cryptocurrency/id1074052280?mt=8

No offence to anyone, but why would they release this to apple users first.. On the whole, android users are a bit more computer literate / tech savvy and would have better use of the app.



dEBRUYNE
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January 29, 2016, 02:36:11 AM


Don't get too excited with your omission though, the conversation continued after that -> https://twitter.com/aantonop/status/691772759429488641


I know eduffield said DASH won't become a sidechain itself, but that won't stop anyone from integrating it as a sidechain.

True, but the value of 1 Sidechain-DASH will be negative-0 due to the economic model Evan built, while real DASH will grow in price, userbase, utility and adoption, because that's where the actual development & funding happens and will continue to happen.

I genuinely hadn't seen that, I stand corrected.

Whilst I agree, they could always take features of DASH and implement them as sidechain, such as InstantX. That being said, I am not that fond of sidechains and think they are way overhyped by the Bitcoin maximalists. Certainly the securing of the sidechain has not being addressed appropriately in my opinion.

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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January 29, 2016, 02:36:51 AM

iPhone Pieps : CoinCap - Real Time CryptoCurrency Market Data App

https://itunes.apple.com/gb/app/coincap-real-time-cryptocurrency/id1074052280?mt=8

No offence to anyone, but why would they release this to apple users first.. On the whole, android users are a bit more computer literate / tech savvy and would have better use of the app.




But Apple fanbois have more money.
wackyD
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January 29, 2016, 02:39:52 AM

iPhone Pieps : CoinCap - Real Time CryptoCurrency Market Data App

https://itunes.apple.com/gb/app/coincap-real-time-cryptocurrency/id1074052280?mt=8

No offence to anyone, but why would they release this to apple users first.. On the whole, android users are a bit more computer literate / tech savvy and would have better use of the app.




But Apple fanbois have more money.

quite true!

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January 29, 2016, 02:51:25 AM

From what I can tell, the infrastructure of elements (the first sidechain) is completely being ran by blockstream. Doesn't that make the whole sidechain centralized and prone to regulation? I'm curious, I haven't really heard anyone talk about it from that angle. I suppose anyone can run nodes voluntarily, but then that brings us back to the same model that is broken in Bitcoin (higher bandwidth == lower full nodes == more centralization). Maybe they could use the fees from transactions on the network, to pay for the infrastructure as well? That seems unlikely because it would make their company less profitable.

Fees alone will never be sufficient to pay for the infrastructure / secure the sidechain due to the mere fact that with unlimited (sufficient) blocksize fees will likely become a race to the bottom.

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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January 29, 2016, 03:14:07 AM

We have had a lot of interest in the Vender-Experience Budget Proposal.  We appreciate the constructive questions.  I have updated the proposal to add an FAQ to help everyone understand this proposal.  For more details or to vote, here are the links and voting command.
https://www.dashwhale.org/p/Vendor-Experience
https://dashtalk.org/threads/budget-proposal-vendor-experience-updated.7863/
dash-cli mnbudget vote-many 1cfc2525f33d8dee81640f6860fc85751acea552724ec58d6619f7fcee694ea1 yes

The Vendor-Experience Budget Proposal

We believe the best way to grow Dash is to give users a place to spend their Dash.  Dash has an advantage over any other crypto with InstantX that can enable point of sale purchases without risk.  We plan to utilize this advantage to show projects in the real world.

The initial project we implemented was the Dash N Drink soda machine.  The key to making this project was to implement InstantX detection and trigger a machine credit.  This has now opened the door for the next phase.  The next projects we will work on will include more sophisticated interfaces that will take engineering and software to connect to properly.  We will be updating mobile wallets so they work quickly and easily. We expect to deploy actual products in actual stores.

The core team members coordinating this project are Camosoul and Solarminer.

We view this proposal as a core requirement for Dash adoption, not something that is for a single merchant application or single product.  If anyone would rather only support this proposal for 1 month/3 months just vote it down when you want.  We plan to deliver and keep pushing the envelope of possibilities so there is no reason to think about ending this project.

The Plan
We plan to initially target easier devices and as we learn get to more complicated infrastructure projects.  This is the plan as we have it
now, but that could change based on vendor participation or types of products available.  We expect to complete each of these projects in about 3 months.

Vending machine with multiple products that uses a custom interface.
    Upgrade software for Raspberry PI or Odroid-XU4 as needed to make this all work.
    Design software to communicate with serial interface or more complicated multiple item vending controller
    Implement multiple product selection within the dash wallet along with a more stable interface.
    Implement multiple product selection and inventory tracking with QR codes and addresses

Gas pumps
    Design software and hardware to communicate with the pump controller
    Implement a wifi captive portal checkout with one product.
    Enable prepay with return change

Dash Sky Store Checkout
    Design a wifi captive portal with multiple products.
    Enable shopping cart functionality on phone or portal.
    Implement the Dash Fast Lane - start wifi cart on entry and pay when you leave without a checkout line
    Enable phone to store product scanning (skipping the need for registers)

We will be getting assistance from inside and outside the Dash space.  Each application will win press releases and additional status as a
leading crypto similar to how we won publicity with the Dash N Drink.

As for the questions about what happens to the products after we are done, we expect them to be in the hands of a merchant who will actually use them.  This will bring ongoing publicity along with proof of concept for other merchants to adopt and a base for testing.  The valuable part of all these projects is the software, publicity and to gain adoption. The software will be open source as much as possible.  The intent is not to make a business to sell products but to show how products can be used in real world scenarios.

FAQs
Can we have some more information about the project, the vending machine and how you’re planning
on operating this?

The goal is to create the software and hardware to easily interface with a wide variety of products.  We have outlined a multiple item vending machine to add software features as the initial product.  The vending machine or future devices will be operated by a merchant similar to before our upgrades.  The idea isn't to be in the vending business but to adopt a real product for Dash.

We don’t know what’s happening to the vending machine that was already made(Dash N Drink), who owns this vending machine and what’s the plan for it?
The Dash N Drink is being stored at Camosoul’s.  Anyone is welcome to offer it a home.  We still have some bugs in instantX detection to fix before it can be in an unattended location.  Of course, the reason for building the Dash N Drink was to build a demo to test and use InstantX.  It was a success at the Miami show, which was our primary goal.

What are you goingto be purchasing with the $3000?

A portion of the funds will go to the developers for coding enhancement to the software and wallets.  There may also be a portion for outside support with gas pump controller software or point of sale devices.  A large amount will go to modifying customer machines or buying hardware to interface with pumps/registers?

Can you give us an itemized breakdown?

We are looking at this as a development project.  We don’t know what the breakdown of expenses will be.  There will be some on-going costs like 4g internet and server space. Otherwise, we are putting the remaining funds into hardware and software.

Can you give us a plan on how you aim to use these funds each month?

The first few months will be sourcing a vending machine along with a merchant that wants to display it.  We may also be able to find a merchant willing to let us convert their machine. We will begin to engineer a way to dispense each product with a specific QR code with coded price or with multiple QR codes.  We will also work on an inventory system based on dash addresses.  Some of these features are possible but we won’t know how effective they will be until we do them.

Would it be possible to come up with milestones for this project? What are you planning on accomplishing? How will it benefit the ecosystem?
Setting specific milestones is difficult to nail down aswe will need to work with several groups who are already working on projects.  I would expect every 3 monthswe would finish a product and start work on a new product.  The goal here is to find applications that are similar to a wide family of products. Then another merchant can easily adopt from what we started.  The benefit is to answer this question,“Where can I spend Dash?”  We believe that question is what gives Dash it’s value.

Are you planning on selling vending machines, components of them eventually, or something like this? Who will earn these rewards?

This is not planned to be a profitable undertaking.  We are not planning to sell products.  We expect the final result of any of our builds to be machines that are in use in the real world making money for the merchant. All code will be open sourced as much as possible to enable DASH-specific projects to flourish.

I would assume if the masternode network is funding your operation, it should receive a cut of the profits each quarter paid out as dividends. I would like to also establish some sort of agreement between yourselves and the Darkcoin foundation as well to make that agreement official
.
As for profits, we don’t expect any.  If we do get to the point where there are no new projects to develop we will ask for the proposal to be voted down.

I’m curious what the answers are, as that will inform the decision of the masternode network. Funding is starting to get tight on the network so we definitely need to be careful that we’ll have great return on the network’s investment.
We understand that there a lot of other projects that are valuable.  With the success of the Dash N Drink, we can’t help but think this is every bit as valuable as other projects.The key to success of any crypto project is real world adoption.  This kind of development will stimulate that process.
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January 29, 2016, 03:54:52 AM

We have had a lot of interest in the Vender-Experience Budget Proposal.  We appreciate the constructive questions.  I have updated the proposal to add an FAQ to help everyone understand this proposal.  For more details or to vote, here are the links and voting command.
https://www.dashwhale.org/p/Vendor-Experience
https://dashtalk.org/threads/budget-proposal-vendor-experience-updated.7863/
dash-cli mnbudget vote-many 1cfc2525f33d8dee81640f6860fc85751acea552724ec58d6619f7fcee694ea1 yes

The Vendor-Experience Budget Proposal

We believe the best way to grow Dash is to give users a place to spend their Dash.  Dash has an advantage over any other crypto with InstantX that can enable point of sale purchases without risk.  We plan to utilize this advantage to show projects in the real world.

The initial project we implemented was the Dash N Drink soda machine.  The key to making this project was to implement InstantX detection and trigger a machine credit.  This has now opened the door for the next phase.  The next projects we will work on will include more sophisticated interfaces that will take engineering and software to connect to properly.  We will be updating mobile wallets so they work quickly and easily. We expect to deploy actual products in actual stores.

The core team members coordinating this project are Camosoul and Solarminer.

We view this proposal as a core requirement for Dash adoption, not something that is for a single merchant application or single product.  If anyone would rather only support this proposal for 1 month/3 months just vote it down when you want.  We plan to deliver and keep pushing the envelope of possibilities so there is no reason to think about ending this project.

The Plan
We plan to initially target easier devices and as we learn get to more complicated infrastructure projects.  This is the plan as we have it
now, but that could change based on vendor participation or types of products available.  We expect to complete each of these projects in about 3 months.

Vending machine with multiple products that uses a custom interface.
    Upgrade software for Raspberry PI or Odroid-XU4 as needed to make this all work.
    Design software to communicate with serial interface or more complicated multiple item vending controller
    Implement multiple product selection within the dash wallet along with a more stable interface.
    Implement multiple product selection and inventory tracking with QR codes and addresses

Gas pumps
    Design software and hardware to communicate with the pump controller
    Implement a wifi captive portal checkout with one product.
    Enable prepay with return change

Dash Sky Store Checkout
    Design a wifi captive portal with multiple products.
    Enable shopping cart functionality on phone or portal.
    Implement the Dash Fast Lane - start wifi cart on entry and pay when you leave without a checkout line
    Enable phone to store product scanning (skipping the need for registers)

We will be getting assistance from inside and outside the Dash space.  Each application will win press releases and additional status as a
leading crypto similar to how we won publicity with the Dash N Drink.

As for the questions about what happens to the products after we are done, we expect them to be in the hands of a merchant who will actually use them.  This will bring ongoing publicity along with proof of concept for other merchants to adopt and a base for testing.  The valuable part of all these projects is the software, publicity and to gain adoption. The software will be open source as much as possible.  The intent is not to make a business to sell products but to show how products can be used in real world scenarios.

FAQs
Can we have some more information about the project, the vending machine and how you’re planning
on operating this?

The goal is to create the software and hardware to easily interface with a wide variety of products.  We have outlined a multiple item vending machine to add software features as the initial product.  The vending machine or future devices will be operated by a merchant similar to before our upgrades.  The idea isn't to be in the vending business but to adopt a real product for Dash.

We don’t know what’s happening to the vending machine that was already made(Dash N Drink), who owns this vending machine and what’s the plan for it?
The Dash N Drink is being stored at Camosoul’s.  Anyone is welcome to offer it a home.  We still have some bugs in instantX detection to fix before it can be in an unattended location.  Of course, the reason for building the Dash N Drink was to build a demo to test and use InstantX.  It was a success at the Miami show, which was our primary goal.

What are you goingto be purchasing with the $3000?

A portion of the funds will go to the developers for coding enhancement to the software and wallets.  There may also be a portion for outside support with gas pump controller software or point of sale devices.  A large amount will go to modifying customer machines or buying hardware to interface with pumps/registers?

Can you give us an itemized breakdown?

We are looking at this as a development project.  We don’t know what the breakdown of expenses will be.  There will be some on-going costs like 4g internet and server space. Otherwise, we are putting the remaining funds into hardware and software.

Can you give us a plan on how you aim to use these funds each month?

The first few months will be sourcing a vending machine along with a merchant that wants to display it.  We may also be able to find a merchant willing to let us convert their machine. We will begin to engineer a way to dispense each product with a specific QR code with coded price or with multiple QR codes.  We will also work on an inventory system based on dash addresses.  Some of these features are possible but we won’t know how effective they will be until we do them.

Would it be possible to come up with milestones for this project? What are you planning on accomplishing? How will it benefit the ecosystem?
Setting specific milestones is difficult to nail down aswe will need to work with several groups who are already working on projects.  I would expect every 3 monthswe would finish a product and start work on a new product.  The goal here is to find applications that are similar to a wide family of products. Then another merchant can easily adopt from what we started.  The benefit is to answer this question,“Where can I spend Dash?”  We believe that question is what gives Dash it’s value.

Are you planning on selling vending machines, components of them eventually, or something like this? Who will earn these rewards?

This is not planned to be a profitable undertaking.  We are not planning to sell products.  We expect the final result of any of our builds to be machines that are in use in the real world making money for the merchant. All code will be open sourced as much as possible to enable DASH-specific projects to flourish.

I would assume if the masternode network is funding your operation, it should receive a cut of the profits each quarter paid out as dividends. I would like to also establish some sort of agreement between yourselves and the Darkcoin foundation as well to make that agreement official
.
As for profits, we don’t expect any.  If we do get to the point where there are no new projects to develop we will ask for the proposal to be voted down.

I’m curious what the answers are, as that will inform the decision of the masternode network. Funding is starting to get tight on the network so we definitely need to be careful that we’ll have great return on the network’s investment.
We understand that there a lot of other projects that are valuable.  With the success of the Dash N Drink, we can’t help but think this is every bit as valuable as other projects.The key to success of any crypto project is real world adoption.  This kind of development will stimulate that process.
See now that is information I can get behind. I was on the fence before, but you now have my votes. Getting Dash out there, building a merchant infrastructure is key.

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January 29, 2016, 04:13:58 AM

New interview with Andreas Antonopoulos talking about Dash as a sidechain of Bitcoin

https://www.youtube.com/watch?v=kSq-58ElBzk&t=20m1s

Is this related to the budget about travel to Satoshi Roundtable Conference?

Thanks for the link Melech.

AA looks like he's got his hands tied behind his back???

LOL, I was thinking that too!  LOL

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
"You'll never reach your destination if you stop to throw stones at every dog that barks."
Sir Winston Churchill  BTC: 12pu5nMDPEyUGu3HTbnUB5zY5RG65EQE5d
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January 29, 2016, 04:29:47 AM

New interview with Andreas Antonopoulos talking about Dash as a sidechain of Bitcoin

https://www.youtube.com/watch?v=kSq-58ElBzk&t=20m1s

Is this related to the budget about travel to Satoshi Roundtable Conference?

You can't make Dash into a side-chain, it's immune to that. The economic model won't function properly on a side chain and whole thing will be insecure. Who's paying the masternodes an incentive, where is that money coming from? Wink

I understand what you're saying, but I think he was talking about sidechains connecting on either end to Dash (or other coin's chain) and Bitcoin, allowing for distributed exchanges.


Where you buy, momentarily, into the side chain to switch from one coin to the other, and the "price of a side chain "coin" would be based on the exchange rate agreed to.  There would be no holding of this sidechain coin, it's only a unit of transfer.  I don't know if I'm making sense, but I think this is what he was talking about in part of what he said, though he also suggested new coins could be created off a sidechain of the Bitcoin Blockchain, thus inheriting Bitcoin's security.  Two different points.  Unless I understood him incorrectly??

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
"You'll never reach your destination if you stop to throw stones at every dog that barks."
Sir Winston Churchill  BTC: 12pu5nMDPEyUGu3HTbnUB5zY5RG65EQE5d
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January 29, 2016, 04:33:59 AM


My ears heard the word Dash a couple times... Good to hear (insert longest name ever) give Dash a shoutout

He's done a great job of maintaining his neutrallity over the diversity of offerings and not getting bogged down in politics I think. At the same time he's been able to highlight lots of advantages in the various camps.

Not an easy balancing act considering he must get lobbied to death by all the competing factions for him to plant his flag with some alt or other.


This ^^^ is undoubtedly the truth, and he's probably become a much more guarded individual since starting his public Bitcoin life.  I for one will cut him slack there.

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
"You'll never reach your destination if you stop to throw stones at every dog that barks."
Sir Winston Churchill  BTC: 12pu5nMDPEyUGu3HTbnUB5zY5RG65EQE5d
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January 29, 2016, 04:46:35 AM

Evan,

I would like to invite you to have dinner at my house, so we can chat about bitcoin (and maybe dash).
I believe this is of great value for you, so the ticket, with dinner included and after drinks, is $5000.
I suggest you create a proposal and submit it. Pretty sure it will pass.

Edit: you can bring Otoh if that helps...

I guess you're not a native speaker (like me btw):



Source

Don't get me wrong though: I, too, think that's a pretty hefty fee. Just wanted to straighten out the logic in the wording here.

Yes, this is an exclusive invitation, actually EXTREMELY exclusive.  These people are very public, and to have a safe and private open place to talk, they choose once a year to go somewhere very private and thus expensive.

So why should we pay to send our two main faces of Dash?  Because they will spend 3 full days, one on one with the tip top names in the industry, explaining fully and thoroughly about Dash, which I expect will make a HUGE impact.  Will Daniel and Evan have fun?  Yah, I sure hope so, but it'll be more intellectually stimulating fun, they will not only come home having spread the word of Dash, they will undoubtedly come home with brand new ideas and concepts.  All this will work it's way into our project here at home.  And the contacts will be invaluable to the Dash project.

Jealousy is the stupidest emotion that can be expressed at a time like this.  But hey, I don't really care, because most of the community understands this, Masternode owner or not.

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
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January 29, 2016, 04:49:01 AM
Last edit: January 29, 2016, 05:03:12 AM by eduffield

New interview with Andreas Antonopoulos talking about Dash as a sidechain of Bitcoin

https://www.youtube.com/watch?v=kSq-58ElBzk&t=20m1s

Is this related to the budget about travel to Satoshi Roundtable Conference?

You can't make Dash into a side-chain, it's immune to that. The economic model won't function properly on a side chain and whole thing will be insecure. Who's paying the masternodes an incentive, where is that money coming from? Wink

I understand what you're saying, but I think he was talking about sidechains connecting on either end to Dash (or other coin's chain) and Bitcoin, allowing for distributed exchanges.


Where you buy, momentarily, into the side chain to switch from one coin to the other, and the "price of a side chain "coin" would be based on the exchange rate agreed to.  There would be no holding of this sidechain coin, it's only a unit of transfer.  I don't know if I'm making sense, but I think this is what he was talking about in part of what he said, though he also suggested new coins could be created off a sidechain of the Bitcoin Blockchain, thus inheriting Bitcoin's security.  Two different points.  Unless I understood him incorrectly??

This is one way to do it, however that requires us to hard fork and allow them to create coins out of thin air in our blockchain (I don't have a problem with that part theoretically, being that the coins would be tied directly to a proof-of-burn in the Bitcoin blockchain). However, here's a problem with doing that, for example, what if a whale brought over 75M worth of Bitcoin and instantly controlled 75% of our network's masternodes (with our market cap at 25M)? That sounds like a sybil attack vector.

If they tried to buy the 75M from a decentralized/centralized exchange, they would simply run out of money.

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January 29, 2016, 05:51:47 AM


This is one way to do it, however that requires us to hard fork and allow them to create coins out of thin air in our blockchain (I don't have a problem with that part theoretically, being that the coins would be tied directly to a proof-of-burn in the Bitcoin blockchain). However, here's a problem with doing that, for example, what if a whale brought over 75M worth of Bitcoin and instantly controlled 75% of our network's masternodes (with our market cap at 25M)? That sounds like a sybil attack vector.

If they tried to buy the 75M from a decentralized/centralized exchange, they would simply run out of money.

Yah, I'm glad you can think so deep, it's probably way better to have an exchange that runs off of smart contracts or some such.  Where coins are locked while up for sale, and released to new owner when the sale is completed via matching terms with buyers and sellers. The bids are matched and ownership of coins is switched.  This would be much cleaner and I can see it being totally doable.  Plus, once something like this is implemented - probably directly from the wallet, I can see the same structure used for a lot of other types of trade/contracts.  But certainly, this kind of exchange could be done completely decentralized and in the wallet or wallets.

This kind of solution could be just like existing centralized solutions, with real time data that anyone could tap into to provide charts, etc... I'm surprise it hasn't been done before?  Are contracts like this still buggy?

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January 29, 2016, 07:00:35 AM

We have had a lot of interest in the Vender-Experience Budget Proposal.  We appreciate the constructive questions.  I have updated the proposal to add an FAQ to help everyone understand this proposal.  For more details or to vote, here are the links and voting command.
https://www.dashwhale.org/p/Vendor-Experience
https://dashtalk.org/threads/budget-proposal-vendor-experience-updated.7863/
dash-cli mnbudget vote-many 1cfc2525f33d8dee81640f6860fc85751acea552724ec58d6619f7fcee694ea1 yes
Thanks for the further clarification. I think many will be more positive to the proposal now after the explanations!
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