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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 9722503 times)
megges
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April 27, 2016, 12:39:17 PM

btc-e adds new trading pairs: eth and dash

https://bitcointalk.org/index.php?topic=1452594.0



Smiley nice but "DSH" is not that beautiful ticker ...

tip me! Tongue XtSrWch1U3BsTBFBHj7acTTzxFo1fy5BMa
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ocminer
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April 27, 2016, 12:40:03 PM

btc-e adds new trading pairs: eth and dash

https://bitcointalk.org/index.php?topic=1452594.0



Smiley nice but "DSH" is not that beautiful ticker ...

They're russians, they don't care about that Wink

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megges
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April 27, 2016, 12:41:12 PM

Looks like everyone is expecting a bitcoin bullrun and alts are dumped hard probably because of that expectation  Roll Eyes
I got a month old buy order filled here, lets hope i don't regret it after i waited over a month to get that fill :O gl all

baammm back from 0.0126 to 0.014 took a good profit here, thanks all for participating Smiley

tip me! Tongue XtSrWch1U3BsTBFBHj7acTTzxFo1fy5BMa
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April 27, 2016, 12:43:07 PM

Looks like everyone is expecting a bitcoin bullrun and alts are dumped hard probably because of that expectation  Roll Eyes
I got a month old buy order filled here, lets hope i don't regret it after i waited over a month to get that fill :O gl all

baammm back from 0.0126 to 0.014 took a good profit here, thanks all for participating Smiley

i didn't participate but you are welcome none the less  Grin


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April 27, 2016, 12:48:24 PM

btc-e adds new trading pairs: eth and dash

https://bitcointalk.org/index.php?topic=1452594.0



Smiley nice but "DSH" is not that beautiful ticker ...

They're russians, they don't care about that Wink

To make it all official and remove any doubt (i had some at first) about if DSH is really DASH :


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April 27, 2016, 12:48:48 PM

Dash now on Exodus Wallet – Announcement
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https://www.dash.org/news/dash-now-on-exodus-wallet-announcement/



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April 27, 2016, 12:53:45 PM

They can only do 3 letters I think. But it's better to have it DSH than not having it at all.
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April 27, 2016, 12:59:53 PM

Dash now on Exodus Wallet – Announcement
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https://www.dash.org/news/dash-now-on-exodus-wallet-announcement/





thats actually a pretty slick looking wallet
well done Exodus.

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April 27, 2016, 01:18:37 PM

This is excellent news! Congratulations everyone!
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April 27, 2016, 01:31:26 PM

Damn, thats one big BTC dump



Good thing i'm not holding BTC .. at least not currently.

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April 27, 2016, 02:07:46 PM

I am SO thrilled to see Dash on BTCe!!!!


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April 27, 2016, 02:13:34 PM

btc-e adds new trading pairs: eth and dash

https://bitcointalk.org/index.php?topic=1452594.0



Can someone confirm DSH/BTC is actually DASH/BTC ?

This is great to be there, no matter the price.

It is easier to be an aggressive victim than to be a free man.
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April 27, 2016, 02:22:42 PM



I agree. The concept of self-governing is only marketable to those few users who like to "check under the hood" to see how the magic is achieved and if there are any flaws.

...

If my math is right, Dash's internal governance ecosystem is only about 1% of Dash's annual supply--and that's going to decrease over time as the currency matures. I tend to agree with tok and others that when too much effort is seen being put on developing Dash's self-funded/community-directed management system, it could send the wrong message because the goal is to get the outside economy to use Dash.

I see where you're coming from but I have to disagree on a couple of points.

First, since the budget funds are 10% of the block reward, and the entire block reward goes down approx. 7% each year, the budget funding will not make up a decreasing percentage of Dash's annual supply. They scale together. However, the budget funding will make up a decreasing percentage of Dash's total emission.

Second, I think that the budget funding is incredibly important. AFAIK, we are the only currency that can pay for our own development without relying on donations (which are sparse and intermittent) or centralized funding (organizations like Blockstream and MIT that play such a large role in Bitcoin development). By being self-funding, we ensure that we aren't controlled by special interests. Not only that, but we ensure continued development. All of our developers are great people, IMO, but they all ultimately want some sort of remuneration for their work. Some of that can come from asset appreciation, but that could take many years. By paying our developers a salary, albeit currently a small one, we can incentivize them to stick around, and even get new ones to join us.

Think about the potential of self-funding our software and infrastructure development. Other coins have to hope that some exchange will eventually spend the money to integrate them. We have the money to pay for that work ourselves, thus getting us on more exchanges faster. Other coins have to wait and hope somebody takes a chance and spends the money to develop a debit card. We can fund that development and make it happen much faster.

Consider that Bitcoin, if it had the same budget funding that we do (10% of each block reward), would have $19.4 million that they could pay developers, use to jump-start infrastructure projects, use on PR and marketing, etc. Nearly twenty million dollars in budget funds available for their use! (Of course, there will be the halving soon, so it would decrease then.)

Now put it a different way. Dash has a much different emission rate, so imagine that Dash had the same marketcap as Bitcoin. The price of Dash would be $1100, meaning that we'd have roughly $100 million in annual budget funding! (Declining 7% per year if price remains stable.)* This is an enormous amount of money by anybody's standards! And all of it would go toward making Dash better in some way! When you look at it that way, spending some time to safeguard potentially millions of dollars in future funding seems wise.

Third, a big part of what Evan is working on with the "new budget system" is less about budget money and more about governance. Bitcoin's biggest problem isn't blocksize and backlogged tx's; Bitcoin's biggest problem is governance. If Bitcoin had a decently-designed governance system, they could have arrived at consensus long ago. People forget, but the blocksize debate was occurring (in a much more muted form) back in December 2013 when I first got involved in crypto.

Bitcoin's development team is fragmented and their entire blockchain is controlled by the miners, who have greater incentive to dump (to pay bills) than hold. Consequently, the entire Bitcoin economy is dictated by a handful of people (pool operators and large miners) in China (cheap electricity and labor) whose interests are not aligned with the rest of the userbase (more likely to sell than to hold or buy).

Dash has fixed one part of the governance problem, since masternodes are in control of the network (not miners), and since masternodes have a self-enforcing voting method (at least for budget funds). While Evan could certainly pay out of pocket to fly to a conference somewhere, and the masternodes can't prevent it, they can keep him from receiving reimbursement. This serves as a disincentive to behave in a way that the masternodes don't like. In the same way, we can't force a developer to work on a certain thing, but we can cut of his funding if he doesn't. Anybody who has read Freakanomics realizes that money is a powerful factor in nearly all things. The budget system (via the masternodes) controls that money, and thus governance.

Not only that, but a lot of what Evan is doing, and what people lump under "the new budget system" has little to do with money and lots to do with power/governance/control.

*Math:

Approx.: ((576 blocks per day * 365 days per year) * (4.3 block reward * 0.1 budget percentage)) * $1100 = $99,443,520

Dash - Digital Cash
https://www.dash.org/
HinnomTX
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April 27, 2016, 02:40:32 PM

I am SO thrilled to see Dash on BTCe!!!!



B-T-C-e!! B-T-C-e!!
I'm really psyched too. I might actually have to move some coin and help jump start the trading there.

"One can only solve so much with cryptography. The rest of the solution will prove to be economic in nature." -Evan Duffield
Dash is Digital Cash.  https://www.dash.org
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April 27, 2016, 02:43:27 PM

ddink7 : very nicely formulated and thought out post
Lukas_Jackson : Amen
Mangled_Blue : i believe you  Wink
Wasted_LTC : double Amen

And to put the cherry on the icecake : new ATH (i think)


Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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April 27, 2016, 03:20:20 PM

Not so IT, but in case someone wants to buy some DASH given the prices, and in order to do that you need BTC, I think that https://www.247exchange.com deserves a big UP

Not only the service is good and the price reasonable (especially if you buy a decent amount), the other day I made an order and they didn't realize that they received the payment some hours earlier. In the meantime the BTC/€ went up so I received 0.5 BTC less.

I just sent them an email, they acknowledged the mistake and sent me the difference. Very professional

I have not thoroughly checked their site, but are you saying that this is not an automated exchange? I am curious as how could a deposit be missed, that sounds like a manual procedure rather than the platform crediting your account? Anyway glad it got sorted out!

I made a SEPA transfer. Indeed, there was a check that they needed to do for a not-trivial amount Smiley
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April 27, 2016, 03:45:17 PM


Are my eyes deceiving me ?

Dash on BTCe ?
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April 27, 2016, 03:48:07 PM


Are my eyes deceiving me ?

Dash on BTCe ?


yes i thought the same thing...   Cheesy  DSH Huh  but its DASH   yayyy !!!!

"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
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April 27, 2016, 04:02:37 PM


Are my eyes deceiving me ?

Dash on BTCe ?


Yes, we are all very excited about the good news. I was planning on buying a couple of masternodes I might just go get them there to support the new trading pair.
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April 27, 2016, 04:16:14 PM

Some threads in the Altcoin Discussion section :

btc-e adds new trading pairs: eth and dash
https://bitcointalk.org/index.php?topic=1452594.0
Interesting

DASH added to BTC-E. Monero not
https://bitcointalk.org/index.php?topic=1452661.0
Funny

Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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