[ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency

[arielbit]

Man are you still standing your bet proposal, 1BTC?

what bet?

[GBattaglia]

dam dash is on fire, will we see the 50$ mark soon? i think we will very soon

I don't think so. The value is now too high IMO. We are growing too fast.

We need to see the deployment of the Evolution project (with all the features included) for that. Even then.... i don't know for sure.

The problem is our competitors. In the alt world only Ethereum is a worthy rival.

X-posted from Dash Nation Slack:

I've seen several people in this slack who are worried about when the correction will come. This is very reasonable, and commendable even. Don't get caught up in the FOMO. I don't see a correction coming on the price of Dash (other than the typical oscillations, but nothing like going back to .017 or anything). It's important to remember that technically DASH is not worth $26 apiece. DASH is worth .022 BTC each, and BTC is worth 1160 each.

DASH's actual price (in Bitcoin terms) is at a reasonable level that we've seen several times before. As @toknormal  points out, there is every reason to believe that this price can and will climb in the coming weeks/months.

The second thing to remember is that the vast majority of our USD price gain comes from the BTC rise. We were at .0245 a year ago (or was it two?), but at that time our price was only $6, because BTC was sub-$300.  The reason we're seeing such high valuations right now is because we are increasing in price (in BTC terms) while BTC is increasing in price (in USD terms).

I fully expect a correction of BTC before the ETF news comes out, but of course I could be wrong. Also, a successful ETF throws all the charts and TA out the window.

Try not to think of it in terms of "Dash went from $8 to $26, so when is the bottom going to fall out?" Try to think of it in terms of "Dash went from .016 to .022, which is a reasonable increase over a couple month period." IMO of course...not investment advice, etc.

Have to agree with this for the most part. This price isn't really anything new in terms of BTC so we can't say Dash went from $8 to $26 to quickly. Most people invested in Dash probably got in through Bitcoin. I do think there will be a correction and looking at the chart you can see multiple flash drops. In one five minute candle we were at .0245 and .0225. That is almost a 10% fluctuation during a five minute cycle, obviously indicating the market is a little uneasy with the rise. In just three days Dash went from .018 to .024, a 60% rise. I don't think anything changed during those three days to justify a 60% increase. So we will probably see a mild correction, but this time around Dash might stay above .02 and keep that as a new bottom. If that happens, then that is pretty good price progress.

[arielbit]

careful...sell high, and be wary of riding this pump..

this is an easy pump..too many coins locked in masternodes (making an artificial increase in valuation), too few big holders of this coin(instamined), and too few in circulation..

just look at DASH btc-e and poloniex sell orders combined..just less than 20K? compare it at poloniex LTC ~150k,  ETH ~400k, XMR ~320k at sell orders...

remember DASH was once marked in coinmarketcap as a premined coin...until a very aggressive protest was done by DASH shills around here

People keep it in masternodes because masternodes offer value to the network and receive a compensation.
People keep dash in masternodes because they have a long term belief in the project.
This is not artificial, just smart design and smart vision.
Few big holders is not an issue for the network if these big holders are smart people with a long term vision, which it seems they are.
What do you think is better, premined network that creates value for the users and creates value to non-users of crypto by reaching out to them, or a non-premined network that is lacking in dynamism and innovation ?
Yes selling pressure will come from big holders, but they would be stupid to start selling now IMHO. They should wait for DASH to be at least at 0.1 BTC.
You think 0.1 BTC is too high ? Well, some of the big holders know they are going after the king bitcoin, their vision is to overtake BTC long term.

Now I agree that this ride is too fast and will correct, but it might bring DASH to another level in the short term so holding might be the best strategy if you are not a trader.

i highly doubt this part....

and the big holders can wait until 0.1 BTC...if ever people will pay that amount of money for a coin...might as well just go for BTC.

DASH is designed to be held and gain thru interests (for profit-masternoding only)..not to be used as an average joe crypto currency..welcome to the usual pump and dump.

[qwizzie]

For those of you who missed it : http://www.newsbtc.com/2017/02/24/dash-partners-blockpay-enables-pos-payments-physical-stores/

[GBattaglia]

careful...sell high, and be wary of riding this pump..

this is an easy pump..too many coins locked in masternodes (making an artificial increase in valuation), too few big holders of this coin(instamined), and too few in circulation..

just look at DASH btc-e and poloniex sell orders combined..just less than 20K? compare it at poloniex LTC ~150k,  ETH ~400k, XMR ~320k at sell orders...

remember DASH was once marked in coinmarketcap as a premined coin...until a very aggressive protest was done by DASH shills around here

People keep it in masternodes because masternodes offer value to the network and receive a compensation.
People keep dash in masternodes because they have a long term belief in the project.
This is not artificial, just smart design and smart vision.
Few big holders is not an issue for the network if these big holders are smart people with a long term vision, which it seems they are.
What do you think is better, premined network that creates value for the users and creates value to non-users of crypto by reaching out to them, or a non-premined network that is lacking in dynamism and innovation ?
Yes selling pressure will come from big holders, but they would be stupid to start selling now IMHO. They should wait for DASH to be at least at 0.1 BTC.
You think 0.1 BTC is too high ? Well, some of the big holders know they are going after the king bitcoin, their vision is to overtake BTC long term.

Now I agree that this ride is too fast and will correct, but it might bring DASH to another level in the short term so holding might be the best strategy if you are not a trader.

i highly doubt this part....

and the big holders can wait until 0.1 BTC...if ever people will pay that amount of money for a coin...might as well just go for BTC.

DASH is designed to be held and gain thru interests (for profit-masternoding only)..not to be used as an average joe crypto currency..welcome to the usual pump and dump.

So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable.
Hell even right now a masternode effectively costs more than $20,000.

[Lukas_Jackson]

...Dash went from .018 to .024, a 60% rise...

It's a 33% rise 

[GBattaglia]

...Dash went from .018 to .024, a 60% rise...

It's a 33% rise 

You're right. Tired from work, fuck up on my part. Regardless 33% in three days is not sustainable.

[Lukas_Jackson]

...So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable...

At the moment interest rate is ~9%, so I doubt it will be 45% then  

edit: "45% interest rate on block rewards" - that's correct

[GBattaglia]

...So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable...

At the moment interest rate is ~9%, so I doubt it will be 45% then  

edit: "45% interest rate on block rewards" - that's correct

Is there any reason why masternodes require a certain amount of coins up front to operate? Like a legitimate technical reason dictating requiring $20,000?

[K~Ehleyr]

So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable.
Hell even right now a masternode effectively costs more than $20,000.

Perhaps you should familiarise yourself with the concept of Scalability  
Also the dash network can vote to reduce the number of dash required to collateralise a masternode at any time. The masternodes are critical to the network so if the number of masternodes were insufficient due to being cost prohibitive, the network would vote to reduce the number required to 500 or 200 or whatever were reasonable at the time. That's the beauty of the dash governance system.

The reason masternodes are collateralised is to protect the network from Sybil attacks. Also to ensure that masternode owners have a staked interest in voting on the best decisions for the good of the network.

[snogcel]

Can't shake the feeling were on the verge of something huge here - it won't happen overnight, but the fundamentals are shifting.

I was thinking about this on the way home from a quick errand this evening. How does one quantify the impact of a self-funded monetary unit? This is some seriously groundbreaking stuff, I can't think of anything like it - ever. The best way I can wrap my head around it is (1.01)^x where 1 is the base value and the 0.01 is the added value from increased development.

With a Market Cap around 20m the impact will be slow... with a Market Cap of 200m can you imagine the proposals that could be funded? Move this up to a bitcoin-level market cap and it's jaw dropping.

Best is yet to come, can't wait to see how this develops 

Halfway there  

[Lukas_Jackson]

...So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable...

At the moment interest rate is ~9%, so I doubt it will be 45% then  

edit: "45% interest rate on block rewards" - that's correct

Is there any reason why masternodes require a certain amount of coins up front to operate? Like a legitimate technical reason dictating requiring $20,000?

You mean 1000 dash, because not so long ago you could have it for $4-$7 each.

1000 it's a collateral, so you won't be able to operate thousands of masternodes for free and be able sybil attack the network.
If the price rises to btc parity, then masternodes and miners could vote for a decrease the amount needed.

[gerhard]

Dash deserves to be a billion dollar coin. It's going to happen this year.

[GBattaglia]

...So going with the whole overtaking BTC idea, a masternode would cost $1,000,000, and the person would get paid out a 45% interest rate on block rewards. That doesn't sound very sustainable...

At the moment interest rate is ~9%, so I doubt it will be 45% then  

edit: "45% interest rate on block rewards" - that's correct

Is there any reason why masternodes require a certain amount of coins up front to operate? Like a legitimate technical reason dictating requiring $20,000?

You mean 1000 dash, because not so long ago you could have it for $4-$7 each.

1000 it's a collateral, so won't be able to operate thousands of masternodes for free and be able sybil attack the network.
If the price rises to btc parity, then masternodes and miners could vote for a decrease the amount needed.

Doesn't Peercoin's minting set up for POS avoid these issues and manage a much more reasonable return rate?

[Kryptowerk]

Imo price is way too high right now.
I am happy as I hold quite some dash, but $30/DASH seems like a reasonable price if Evolution launches AND is working as it should be. I expect prices slightly below $20 soon.

[AzzAz]

Man are you still standing your bet proposal, 1BTC?

what bet?

Sry, I ment this:

I like what toknormal said awhile back, and have been turning it over in my mind. The summarized version is:

Monero is essentially maxed-out. Their sole value proposition is that you can buy illegal shit with their coin, and by being accepted on all the major darknet markets, they've essentially achieved their growth objectives. I honestly congratulate them--2600% growth in the last year is truly stunning--but there isn't much further they can go.

The good news is that Dash has not aligned itself with any single use case. People can use our product for a staggering array of reasons: privacy, instant transactions, a solid governance model, a two-tier incentivized network, a treasury system that is funding continuous development...

So congrats to the Monero team on the result of all their hard work. Now I'll watch them hang out in the $200 million market cap range while we continue to climb.

Care to make an escrowed bet (Ognasty/Blazed could be options as an escrow) that by the end of year Monero will have outperformed Dash from now (Feb 17th, 2017) until Dec 31st 2017?

XMR = 0.01257 BTC
DASH = 0.01909 BTC

Bet amount = 1 BITCOIN

We can have the proceeds of the bet sent to a charity of our choice once the wager is done.

If you win, my part of the wager goes to the charity of your choice.

If I win, your part of the wager goes back to the charity of my choice.

In either case the winner keeps their original bet amount.

Let me know.

Smoothie, whwere are you?

[Lukas_Jackson]

Doesn't Peercoin's minting set up for POS avoid these issues and manage a much more reasonable return rate?

Peercoin is different. I don't know much about it but what I know it's a hybrid of Proof of Stake and Proof of Work.
You don't stake your collateral in Dash. The idea was to incentivise full nodes to be available 24/7.

[tungfa]

Dash Passes Litecoin and Monero to Claim Number 4 Cryptocurrency Status

https://cointelegraph.com/news/dash-passes-litecoin-and-monero-to-claim-number-4-cryptocurrency-status

[GBattaglia]

Man are you still standing your bet proposal, 1BTC?

what bet?

Sry, I ment this:

I like what toknormal said awhile back, and have been turning it over in my mind. The summarized version is:

Monero is essentially maxed-out. Their sole value proposition is that you can buy illegal shit with their coin, and by being accepted on all the major darknet markets, they've essentially achieved their growth objectives. I honestly congratulate them--2600% growth in the last year is truly stunning--but there isn't much further they can go.

The good news is that Dash has not aligned itself with any single use case. People can use our product for a staggering array of reasons: privacy, instant transactions, a solid governance model, a two-tier incentivized network, a treasury system that is funding continuous development...

So congrats to the Monero team on the result of all their hard work. Now I'll watch them hang out in the $200 million market cap range while we continue to climb.

Care to make an escrowed bet (Ognasty/Blazed could be options as an escrow) that by the end of year Monero will have outperformed Dash from now (Feb 17th, 2017) until Dec 31st 2017?

XMR = 0.01257 BTC
DASH = 0.01909 BTC

Bet amount = 1 BITCOIN

We can have the proceeds of the bet sent to a charity of our choice once the wager is done.

If you win, my part of the wager goes to the charity of your choice.

If I win, your part of the wager goes back to the charity of my choice.

In either case the winner keeps their original bet amount.

Let me know.

Smoothie, whwere are you?

Doesn't that bet entail Dash has to be ahead of Monero at the end of 2017? seems like we are calling the game short considering we are in February. Or does that bet mean Monero has to always outperform dash throughout the whole year? Which if that is the case....kind of a stupid bet for him to make.

[toknormal]

Smoothie, whwere are you?

Changing his underpants hopefully.

(Not posted inline to spare those with a sensitive disposition to blood & guts).