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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 9570059 times)
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April 15, 2015, 05:46:17 AM
 #93801

This is definitely bullish for DASH, alot of ripple holder didnt see this coming  Cheesy Cheesy Cheesy Grin


http://imgur.com/cFk2pQM

Quote
Later this year, Ripple Labs will enhance identity requirements for Ripple Trade wallets by establishing additional account creation and verification procedures in support of a compliant Ripple network. This will include the collection of additional identifiable information. An ecosystem that supports regulatory compliance builds confidence and encourages new participants to use Ripple and contribute volume to the network.
 
To learn more about how Ripple Labs is developing an identity solution for Ripple Trade and the overall ecosystem, read our previous communication. We will be in touch with more information soon.
 
Thank you for using Ripple Trade, and please don’t hesitate to email support@ripple.com with any questions or concerns.
 

"...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 15, 2015, 06:08:16 AM
 #93802



I don't know, but there was an entity at least 9 months ago who was buying up coins, hitting numbers like pi 314159.... and I don't remember, the fibonacci sequence?  I can't recall.  But it's possible that this is the same account?  Anyone know?

Inputs go all the way back to one of the first miners it appears. Granted, I figured there were some large holders of around 3-4% but double digits and constantly rolling 1k vins forward into new masternodes doesn't strike me as incredibly healthy for a currency. I kinda figured Evan had around 200-300k coins presently (after clearing over a million in usd equivalent) with the chunks that went to the exchanges late april to early june but to still have a stockpile of coins this large is a bit shocking.

I agree, but on the other hand, I think the system is working.  Even this huge entity can only make 582 masternodes, which isn't even close enough to de-anonymize a few rounds of DS. especially with masternode blinding, which is coming up. 

We do have to consider such an entity as a potential enemy though and be sure they can't take down the system or break the anonymity.  But since anyone can do 8 or more rounds, and it would take more than 90% control of the network to hope to get 1% chance of following the coins (I don't remember the actual numbers, so that's not correct), it seems the system will work.  You can easily see that if one didn't have to "put up" collateral to run a masternode, that there would be no way to control this.

I'm not assuming the anonymity will be broken, even at this percentage of ownership, and certainly not when blinding is implemented however, it's certainly not "healthy" having a substantial portion of the money supply under one entity, especially as it relates to new coin generation--that's one of the primary reasons I will never hold POS coins for anything other than a trade because the largest holders continue to be the ones obtaining the majority of the coins. Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

I guess it's just a bit shocking that ownership is this substantial. I know the whole instamine ordeal (and I've been around long enough to see the stagnant price action early on as coins were distributed) but the fact that such a large position still remains even after how many coins were sold during the rise to its ATH... just... well... blows.

Given a masternode count of 2400, that means roughly a third (if not more) is owned by this entity and Otoh. If this really is Evan, it would be nice once and for all to really know. Obviously a large stake directly aligns with a productive incentive so there's that, but one does have to just look at the numbers and drop their jaw in the amount of control only a few have. I guess you could really say that about much of crypto though anyway. As a coin holder, I'm definitely going to continue watching the activity as a means of knowing if and when these coins end up finding their way to the exchanges.
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April 15, 2015, 06:12:46 AM
 #93803

This is definitely bullish for DASH, alot of ripple holder didnt see this coming  Cheesy Cheesy Cheesy Grin


http://imgur.com/cFk2pQM

Quote
Later this year, Ripple Labs will enhance identity requirements for Ripple Trade wallets by establishing additional account creation and verification procedures in support of a compliant Ripple network. This will include the collection of additional identifiable information. An ecosystem that supports regulatory compliance builds confidence and encourages new participants to use Ripple and contribute volume to the network.
 
To learn more about how Ripple Labs is developing an identity solution for Ripple Trade and the overall ecosystem, read our previous communication. We will be in touch with more information soon.
 
Thank you for using Ripple Trade, and please don’t hesitate to email support@ripple.com with any questions or concerns.
 

Thing is, I can't find anything on how Ripple works.  It just seems like a banking service rather than a decentralized network.  Like a bank created and maintains it's own "coin" system, which is nothing like bitcoin.

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
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April 15, 2015, 06:17:08 AM
 #93804



 Super!! A p&d puppet riding the stronger coin's public exposure! wooo-hooo!

 +5 star points.

  Huh
 
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April 15, 2015, 06:17:24 AM
 #93805

This is definitely bullish for DASH, alot of ripple holder didnt see this coming  Cheesy Cheesy Cheesy Grin


http://imgur.com/cFk2pQM

Quote
Later this year, Ripple Labs will enhance identity requirements for Ripple Trade wallets by establishing additional account creation and verification procedures in support of a compliant Ripple network. This will include the collection of additional identifiable information. An ecosystem that supports regulatory compliance builds confidence and encourages new participants to use Ripple and contribute volume to the network.
 
To learn more about how Ripple Labs is developing an identity solution for Ripple Trade and the overall ecosystem, read our previous communication. We will be in touch with more information soon.
 
Thank you for using Ripple Trade, and please don’t hesitate to email support@ripple.com with any questions or concerns.
 

Thing is, I can't find anything on how Ripple works.  It just seems like a banking service rather than a decentralized network.  Like a bank created and maintains it's own "coin" system, which is nothing like bitcoin.

You're exactly right... Ripple is not a decentralized currency even in the same realm of Bitcoin and the likes--it's a token-based system for banks, seemingly very centralized with poor liquidity for exchanging into other crypto. Ripple is everything that is wrong with crypto rolled into one entity.
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April 15, 2015, 06:22:01 AM
 #93806

This is definitely bullish for DASH, alot of ripple holder didnt see this coming  Cheesy Cheesy Cheesy Grin


http://imgur.com/cFk2pQM

Quote
Later this year, Ripple Labs will enhance identity requirements for Ripple Trade wallets by establishing additional account creation and verification procedures in support of a compliant Ripple network. This will include the collection of additional identifiable information. An ecosystem that supports regulatory compliance builds confidence and encourages new participants to use Ripple and contribute volume to the network.
 
To learn more about how Ripple Labs is developing an identity solution for Ripple Trade and the overall ecosystem, read our previous communication. We will be in touch with more information soon.
 
Thank you for using Ripple Trade, and please don’t hesitate to email support@ripple.com with any questions or concerns.
 

Thing is, I can't find anything on how Ripple works.  It just seems like a banking service rather than a decentralized network.  Like a bank created and maintains it's own "coin" system, which is nothing like bitcoin.

You're exactly right... Ripple is not a decentralized currency even in the same realm of Bitcoin and the likes--it's a token-based system for banks, seemingly very centralized with poor liquidity for exchanging into other crypto. Ripple is everything that is wrong with crypto rolled into one entity.

 Exactly! Ripple is essentially an existencial crypto virus.
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April 15, 2015, 06:24:09 AM
 #93807

[...] Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

Percentage wise it stays the same (580/(# of Masternodes) * 100) because others also get rewards and create new Masternodes.
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April 15, 2015, 06:25:41 AM
 #93808




This Is Scam Coin, Hyper Inflation, I saw it......i caount it...this coin is Scam Coin...All cheerleader are newbie
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April 15, 2015, 06:32:14 AM
 #93809

[...] Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

Percentage wise it stays the same (580/(# of Masternodes) * 100) because others also get rewards and create new Masternodes.

The difference being this percentage is going to grow substantially faster given the amount of new masternodes able to be put online over x period of time from new coin generation alone. Most smaller owners aren't going to be able to scale their percentages at the same level that this entity can without infusing extra capital.
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April 15, 2015, 06:35:31 AM
 #93810

[...] Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

Percentage wise it stays the same (580/(# of Masternodes) * 100) because others also get rewards and create new Masternodes.

The difference being this percentage is going to grow substantially faster given the amount of new masternodes able to be put online over x period of time from new coin generation alone. Most smaller owners aren't going to be able to scale their percentages at the same level that this entity can without infusing extra capital.

 Pooled MN's will totally fix this.  Wink

 Potentially, even invert this tendency.
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April 15, 2015, 06:43:09 AM
 #93811

[...] Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

Percentage wise it stays the same (580/(# of Masternodes) * 100) because others also get rewards and create new Masternodes.

It will be very interesting to see if this entity eventually starts to sell rather than continue to grow their masternodes.  In other words, is there a price where selling off is too much of a draw, even if it's into another crypto?  Or?

The unfortunate thing here is that no matter what you do, there will never be an egalitarian society.  Not in a free world.  Those with money AND are savy, will have a big head start. 

I don't think Evan will or should disclose how many coins he has.  Personally, the more the better.  The more he has, the more he is motivated to make DASH his career or at least remain an active leader.  But to disclose how much he has would be seriously violating his privacy. 

Did anyone discern whether or not that account is the one that started accumulating about a year ago? (buying on the exchanges?)  I'm not too patient at following the coins, LOL

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
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April 15, 2015, 06:46:09 AM
 #93812

[...] Since the masternode reward will continue to climb monthly until 60%, it's only going to get worse if these new coins continue to roll into new masternodes getting compounded. For instance, at 580 masternodes currently, the entity is generating ~286 coins a day (0.494/Dash per node daily)... that means over the course of just one month, that entity can bring online another 8 masternodes (and that's just today's figures which doesn't factor in increasing rewards and compounding from new nodes). It's not hard to see how over many months that the entity will continue to increase it's coin supply ownership and composition of total masternodes.

Percentage wise it stays the same (580/(# of Masternodes) * 100) because others also get rewards and create new Masternodes.

The difference being this percentage is going to grow substantially faster given the amount of new masternodes able to be put online over x period of time from new coin generation alone. Most smaller owners aren't going to be able to scale their percentages at the same level that this entity can without infusing extra capital.

 Pooled MN's will totally fix this.  Wink

 Potentially, even invert this tendency.

And eventually, the returns on a masternode will be so much smaller, like even as low as 3%.  At some point, it won't be worth it to run one (just like with mining) and someone like this may decide at that point to invest their funds elsewhere.

It's all going to change as DASH matures.

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."
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April 15, 2015, 06:51:00 AM
 #93813



The difference being this percentage is going to grow substantially faster given the amount of new masternodes able to be put online over x period of time from new coin generation alone. Most smaller owners aren't going to be able to scale their percentages at the same level that this entity can without infusing extra capital.

 Pooled MN's will totally fix this.  Wink

 Potentially, even invert this tendency.
[/quote]

And eventually, the returns on a masternode will be so much smaller, like even as low as 3%.  At some point, it won't be worth it to run one (just like with mining) and someone like this may decide at that point to invest their funds elsewhere.

It's all going to change as DASH matures.
[/quote]

 What do you mean Tante? I didn't quite get that. As is seen it, even in the long run (because 1k is harder and harder and harder to get), having a stake in a pooled MN will be much better than any PoStake coin or even a savings account in FIAT.

And when will the MN % reward decrease? Its only going up!
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April 15, 2015, 07:03:02 AM
 #93814

What do you mean Tante? I didn't quite get that. As is seen it, even in the long run (because 1k is harder and harder and harder to get), having a stake in a pooled MN will be much better than any PoStake coin or even a savings account in FIAT.

And when will the MN % reward decrease? Its only going up!

It's harder and harder for people like us, but there is a TON of money out there.  And with pooled masternodes, like said above, people will continue to invest in something with a great return.  Right now, the return is very good, but big money makes 20% a year regularly.  When DASH matures, and the volatility is diminished, 5% per year interest will be considered good to a lot of people, except big money.  Those large holders will bail: slowly, over time, because they will have better opportunities than this.  The percentage of rewards are balancing out until we hit 60%, then the percentage will definitely drop as more masternodes go online.  Plus, each year the mining rewards diminish.

Lets watch those masternodes, we'll see when they start to give up and sell off.  I'm sure they'll sell off slowly, not huge dumps so I don't want anyone thinking there will be a huge panic dump in the future, that would be a stupid move for an investor.

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
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April 15, 2015, 07:35:34 AM
 #93815


The unfortunate thing here is that no matter what you do, there will never be an egalitarian society.

This is not quite true.

An "egalitarian" society doesn't mean that everyone has exactly the same amount of everything in a purely materialistic sense, otherwise we'd have to throw out diversity as well. Do you really want a society in which everyone is a clone of everyone else ?

Lets say the entire world dollar supply is $20 and me and you both start off with $10 each. But you've a guitar that you don't want and I would like one. You sell me your guitar for $5.

Now you've got $15 and I've got $5. Immediately the money supply has become unequally distributed.

Thats why I think that most of these arguments about distribution of crypto are complete baloney. Ok - POW is a reasonable way of getting the money "out there" initially, but markets just blow that distribution to kingdom come eventually.

As far as holdings go, there only are 2 relevant entities: You and Everyone else.

Lets look at things from a global perspective for a moment. There are 7.3 BILLION people in the world. All of cryptocurrency has been effectively "instamined" into the hands of maybe a few thousand of them - lets say 10,000 for arguments sake.

That means the ENTIRE cryptocurrency coin supply is in the hands of just over a MILLIONTH of the world population. Do you really think they could care less about the ethics of distribution WITHIN that millionth ?  Cheesy

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April 15, 2015, 07:47:52 AM
 #93816


No offense man but your red writing matches the banner and looks like part of the banner, no one see's your red writing, all they see is a big ass banner advertising another coin..... Also, when you go to another thread and post things like "THIS COIN IS A SCAM COIN...." And in your signature it says DASH, well my friend, that reflects poorly on DASH. Just some food for thought. Let the Crave people have their fun, just sit back, enjoy the show and let the monero kids try to police the cryptocurrency forums.  Wink
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April 15, 2015, 08:02:46 AM
 #93817

What do you mean Tante? I didn't quite get that. As is seen it, even in the long run (because 1k is harder and harder and harder to get), having a stake in a pooled MN will be much better than any PoStake coin or even a savings account in FIAT.

And when will the MN % reward decrease? Its only going up!

It's harder and harder for people like us, but there is a TON of money out there.  And with pooled masternodes, like said above, people will continue to invest in something with a great return.  Right now, the return is very good, but big money makes 20% a year regularly.  When DASH matures, and the volatility is diminished, 5% per year interest will be considered good to a lot of people, except big money.  Those large holders will bail: slowly, over time, because they will have better opportunities than this.  The percentage of rewards are balancing out until we hit 60%, then the percentage will definitely drop as more masternodes go online.  Plus, each year the mining rewards diminish.

Lets watch those masternodes, we'll see when they start to give up and sell off.  I'm sure they'll sell off slowly, not huge dumps so I don't want anyone thinking there will be a huge panic dump in the future, that would be a stupid move for an investor.

Do the figures again with DASH at $10, $50, $100 & $500 each.

Then you get a measure of the opportunity. Then you sit down in a busy (has to be busy) coffee shop, get a strong black cup of coffee and say to yourself: how do we get from $3 to $500 over the next 3 years? Then look around at all the people walking in and out buying coffee and how they all physically go about purchasing.
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April 15, 2015, 08:02:47 AM
 #93818


The unfortunate thing here is that no matter what you do, there will never be an egalitarian society.

This is not quite true.

An "egalitarian" society doesn't mean that everyone has exactly the same amount of everything in a purely materialistic sense, otherwise we'd have to throw out diversity as well. Do you really want a society in which everyone is a clone of everyone else ?

Lets say the entire world dollar supply is $20 and me and you both start off with $10 each. But you've a guitar that you don't want and I would like one. You sell me your guitar for $5.

Now you've got $15 and I've got $5. Immediately the money supply has become unequally distributed.

Thats why I think that most of these arguments about distribution of crypto are complete baloney. Ok - POW is a reasonable way of getting the money "out there" initially, but markets just blow that distribution to kingdom come eventually.

As far as holdings go, there only are 2 relevant entities: You and Everyone else.

Lets look at things from a global perspective for a moment. There are 7.3 BILLION people in the world. All of cryptocurrency has been effectively "instamined" into the hands of maybe a few thousand of them - lets say 10,000 for arguments sake.

That means the ENTIRE cryptocurrency coin supply is in the hands of just over a MILLIONTH of the world population. Do you really think they could care less about the ethics of distribution WITHIN that millionth ?  Cheesy



I completely agree.  And frankly, I think the coins will become more and more distributed as people enter the system.  In the end, money is worth time and effort.  In many ways, all of us put much time and effort into this system, and that is what gives it it's current value (more so from developers, but without us, it wouldn't go anywhere).  And when we want someone elses time and effort IE their products, we will depart with our coins. 

I was and still am unsure of a deflationary economy, however, I read someone's point, that even in a deflationary economy, people will spend on things they need or want.  They need food, shelter, clothes, etc... but there are perceived needs, like a car, nicer clothes and shoes, hair cuts, etc... that people don't want to live without.  In the end, even so a currency might be deflationary, people will still purchase these things.  We have simply been taught to throw away cash on junk, spend it until you only have debts.  It will definitely be a completely different mind set to live in a deflationary economy, but it may also be a healthier one.

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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April 15, 2015, 08:07:58 AM
 #93819

What do you mean Tante? I didn't quite get that. As is seen it, even in the long run (because 1k is harder and harder and harder to get), having a stake in a pooled MN will be much better than any PoStake coin or even a savings account in FIAT.

And when will the MN % reward decrease? Its only going up!

It's harder and harder for people like us, but there is a TON of money out there.  And with pooled masternodes, like said above, people will continue to invest in something with a great return.  Right now, the return is very good, but big money makes 20% a year regularly.  When DASH matures, and the volatility is diminished, 5% per year interest will be considered good to a lot of people, except big money.  Those large holders will bail: slowly, over time, because they will have better opportunities than this.  The percentage of rewards are balancing out until we hit 60%, then the percentage will definitely drop as more masternodes go online.  Plus, each year the mining rewards diminish.

Lets watch those masternodes, we'll see when they start to give up and sell off.  I'm sure they'll sell off slowly, not huge dumps so I don't want anyone thinking there will be a huge panic dump in the future, that would be a stupid move for an investor.

Do the figures again with DASH at $10, $50, $100 & $500 each.

Then you get a measure of the opportunity. Then you sit down in a busy (has to be busy) coffee shop, get a strong black cup of coffee and say to yourself: how do we get from $3 to $500 over the next 3 years? Then look around at all the people walking in and out buying coffee and how they all physically go about purchasing.

If it's up to $500 a coin, I think I'd have to liquidate at least one MN and get a new roof, new doors and windows, new car for hubby, etc... LOL.  I do have my price!  Then again, dollars and euros may collapse in a year for all we know!  (doubtful, but I wouldn't care, I ain't got none, LOL)

Another proud lifetime Dash Foundation member Smiley My TanteStefana account was hacked, Beware trading
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Sir Winston Churchill  BTC: 12pu5nMDPEyUGu3HTbnUB5zY5RG65EQE5d
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April 15, 2015, 08:33:45 AM
 #93820


I was and still am unsure of a deflationary economy, .....In the end, even so a currency might be deflationary, people will still purchase these things.

Absolutely !

A few years ago, before he became the most important finance minister in the world, Yanis Varoufakis used to blog on economics stuff. He did quite a bit of commentary on cryptocurrencies back in his day as a blogger and knew all about Bitcoin, Litecoin and whotnot.

His main complaint about crypto going "mainstream" was that it was "deflationary". Here he is over 2 years ago discussing the rise of Litecoin: https://www.youtube.com/watch?v=JLu1yAeWNtw

But I found this argument a bit strange considering he's so comfortable about making the distinction between "solvency" and "liquidity" in his current area of responsibility.

If a fixed supply monetary medium exists that works and retains its value over time, then societies have always found ways to satisfy the requirement for liquidity. For example, even in the fiat system, the base money supply issued by central banks is fairly static in the abscence of QE (which is an 'emergency' measure). At best it's no more inflationary than a regular crypto's emission curve like bitcoin's. Meanwhile however, the commercial banking sector levers that base money supply as credit money in response to aggregate demand using the fractional reserve system which helps to keep prices stable.

It's no problem at all to discover equivalent mechanisms in crypto which satisfy this need. For example, take BitUSD - it does exactly that in a very elegant, decentralised way.

So "deflationary" isn't the problem - or at least it's the problem we "want to have" because if a monetary medium is deflationary it must mean it's accruing in value in which case we've got something we can work with !  Wink

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