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

[AlexGR]

Hi guys. I just had a conversation with a friend of mine who worked in Greece last year , and he is not greek citizen. He told me that he is not able to take his money out of the country because of some regulations , which happened after the crisis. And now many greek people havethe same problem . They are not allowed to use their money out of the country. I was thinking is it possible that some 1 show them the possible solution of DASH. As few pages ago ,Tante was writing , that the need of our product , can make it more popular i can see the opportunity in this situation. Do you have any ideas how this can be done?

Yeah, it's not regulations, it's capital controls. Banks run out of euros.

1) What type of money are we talking about? 1k, 5k, 20k, 100k?

2) I'm asking (1) because, right now, bank withdrawals are like 400+ euro per week, so that's 1600+ per month, so if he was here in Greece, he would be able to withdraw at least as much. If he isn't here, he can use someone who is here and an ATM card to withdraw the money for him and then get it out with various methods. 1 month = 1600+, 10 months = 16.000+.

3) As for DASH or BTC, it would be possible in the following way: Find a Greek who is willing to sell DASH or BTC for a bank deposit in his account. Then your friend wires the money to that BTC/Dash seller and he gets BTC/Dash in exchange. This scenario sounds unlikely though, as most wouldn't trade their crypto for money in a bank account that can be withdrawn very slowly. Also there is risk of scam (seller of DASH/BTC keeps the money and doesn't give DASH/BTC).

The problem with Greek capital controls is that Greece has the euro as its currency. What that means, is that when the country run out of euros, it did not hamper only international transactions but also local liquidity. Most countries which have their own currency and which happen to run in foreign exchange reserves deficit, will simply impose capital controls on good imports, bank capital exports etc. Capital controls won't affect local liquidity in local currency, thus in these cases the local economy can still trade local currency with BTC and then BTC can be used for cross-border trade. For Greece its different because euro is both the national currency and the foreign exchange currency - so when it runs out, both "wells" dry up, so when you don't even have cash in hand, and when your bank deposit is next to useless, how can you buy crypto?

4) Another option for taking the money out, is to find a local company that sells assets and accepts money in their bank account as payment, instead of cash. An asset can be anything valuable*. So, you go to a car dealer, buy a used expensive car, drive it out of the country, sell it in Italy or Germany and cash out. The risk of losing resale value is low because car prices are probably lower here right now than other places in Europe. Solutions 2 and 4 don't involve DASH.

* Some were buying jewelry but this is wrong because they are veeeery overpriced compared to their metal composition.

[illodin]

Keep in mind that Evan does what is best for Evan not Xcoin Darkcoin or Dash. Even when his actions are diametrically opposed to the best interest of the community, he will choose to enrich himself at every turn. All the proof you need is in the few hours before and few days after the launch of this coin. However that was not enough! In addition to the instamine he cancelled the airdrop and lowered the coinsupply (increasing his % of ownership). Once masternodes came along he began his new strategy of raising taxes on the miners (in the form of masternode payments) for the benefit of the instaminers.

What will he do next? Reread the last paragraph is you have any question about the loyalties of Evan.

Looks like he keeps making decisions that benefit the holders. And he happens to hold coins himself. And this is wrong because?

If there is an asset where the decisions are made to hurt the owners of the asset I'd suggest you run away from that. And I never give financial advice but that much I think is safe to say.

[TanteStefana2]

Ok, so for some odd (IE me=dingbat) reason, I kept thinking Dash was about 1/100th of Bitcoin market cap, but it's only 1/1000!

That means, for a network with 1/1000th of Bitcoin's market cap we have over 2/3 as many full nodes!  I would have to say that we have nearly 1000 X as secure a network, especially when you consider it's a two tiered network, and I'm not even counting the miner nodes!   Amazing!

[ddink7]

Ok, so for some odd (IE me=dingbat) reason, I kept thinking Dash was about 1/100th of Bitcoin market cap, but it's only 1/1000!

That means, for a network with 1/1000th of Bitcoin's market cap we have over 2/3 as many full nodes!  I would have to say that we have nearly 1000 X as secure a network, especially when you consider it's a two tiered network, and I'm not even counting the miner nodes!   Amazing!

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

[toknormal]

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

I make it 0.28% (1/358)

Easiest way to remember it is it's just under 3 thousandths.

[flailing Junk]

So whats happening with anonymity in evolution? Do we know anything about that yet?

[pille]

So whats happening with anonymity in evolution? Do we know anything about that yet?

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

[flailing Junk]

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

Do we have any information about how it will work though?

[ddink7]

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

I make it 0.28% (1/358)

Easiest way to remember it is it's just under 3 thousandths.

My bad, I was mistaking price and marketcap.

[AlexGR]

Ok, so for some odd (IE me=dingbat) reason, I kept thinking Dash was about 1/100th of Bitcoin market cap, but it's only 1/1000!

That 1% actually happened back in May 2014. BTC was around 7bn marketcap and DRK was ~70mn.

Same for March 2015, when BTC was around 3.5bn marketcap and newly rebranded DASH took off to 35-38mn. I think it peaked at something like 1.1%.

[DrkLvr_]

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

Do we have any information about how it will work though?

It just will!

Geez, why the fuck do you keep asking stupid questions? Evan is making discoveries every day (4 discoveries yesterday) and you're here asking questions. Your questions are not appreciated and will NOT BE ANSWERED. I hope that's clear.

Listen. Just sell your house, your car, your wife's jewelry, deplete all your savings, max out your credit cards, and use it all to buy DASH. And tell all your friends to do the same thing otherwise you're a TROLL and we'll put you on ignore.

[pille]

Do we have any information about how it will work though?

I can't help you with that, couldn't remember that evan told more details about that. We have to be patient I guess. There is still a danger of ideas getting stolen.

[Solarminer]

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

I make it 0.28% (1/358)

Easiest way to remember it is it's just under 3 thousandths.

So Dash has about 240X more nodes per market cap than Bitcoin.  Nice.

I will comment on security by miners.  The amount of hashpower(electricity) is proportional to the marketcap(coin price).  As Dash price goes up, it is more profitable to mine and more security/miners will be added to the network.  The Bitcoin network has about $1,280,000/day in security by miners, Dash has $10,500/day in security.  This doesn't include the cost to acquire the miners either which is about 500x the 1 day electric cost.  So an attacker would need $640,000,000(1/8 of marketcap) just to get close to 50%, and Dash $5,000,000(1/3 of the marketcap).

That does raise the question, if Dash takes off and matches the BTC marketcap now, how much would be spent on miners/security.  The answer is $3,759,000/day.  We could reduce the miner share of blockrewards so that millions/day are not just thrown at electricity to power miners.  This isn't just an ASIC will solve it problem either.  Even with ASICs, eventually more ASICs would be added to use the same electric usage as the value of coins produced.  And maybe with a $5 billion marketcap a $3.8 million electric bill is the right amount.  Personally, I think it would be be more beneficial to move some miners % at that point to the budget and vote on projects for the community.

Disclaimers:  No ASICs are availabe for Dash, nor do I expect them soon.  Actual mining electric cost will be less than the value of coins mined to allow for a profit.

[TanteStefana2]

Ok, so for some odd (IE me=dingbat) reason, I kept thinking Dash was about 1/100th of Bitcoin market cap, but it's only 1/1000!

That means, for a network with 1/1000th of Bitcoin's market cap we have over 2/3 as many full nodes!  I would have to say that we have nearly 1000 X as secure a network, especially when you consider it's a two tiered network, and I'm not even counting the miner nodes!   Amazing!

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

Wait, if they're at 14 billion, and we're at 14 million, that's 0.001 of their market cap, No?  or .1% ?  Damn, am I still screwing up?

I really am a dingbat, I looked at Bitcoin supply, and Dash marketcap, how do I look at two different columns?  Ugh!  I'm senile!

[toknormal]

Wait, if they're at 14 billion, and we're at 14 million, that's 0.001 of their market cap, No?  or .1% ?  Damn, am I still screwing up?

Bitcoin Marketcap = $5000 million
Dash marketcap = $14 million

5000/14=357

...or, marketcap normalised to BTC...

Bitcoin Marketcap = 14823125 BTC
Dash marketcap = 41148 BTC

14823125 / 41148 = 360

(You confused the coin supply with the marketcap).

[Solarminer]

Ok, so for some odd (IE me=dingbat) reason, I kept thinking Dash was about 1/100th of Bitcoin market cap, but it's only 1/1000!

That means, for a network with 1/1000th of Bitcoin's market cap we have over 2/3 as many full nodes!  I would have to say that we have nearly 1000 X as secure a network, especially when you consider it's a two tiered network, and I'm not even counting the miner nodes!   Amazing!

Actually we are 0.7% of Bitcoin's market cap, or about 1/142.

Wait, if they're at 14 billion, and we're at 14 million, that's 0.001 of their market cap, No?  or .1% ?  Damn, am I still screwing up?

Bitcoin is only 5.3 Billion.  Coinmarketcap does all the calculations for you.
http://coinmarketcap.com/

[TanteStefana2]

Wait, if they're at 14 billion, and we're at 14 million, that's 0.001 of their market cap, No?  or .1% ?  Damn, am I still screwing up?

Bitcoin Marketcap = $5000 million
Dash marketcap = $14 million

5000/14=357

...or, marketcap normalised to BTC...

Bitcoin Marketcap = 14823125 BTC
Dash marketcap = 41148 BTC

14823125 / 41148 = 360

(You confused the coin supply with the marketcap).

Don't ask me how I do such stupid things, but yes, I looked at the supply and thought marketcap, in a completely different collumn, then at Dash's market cap.  Supid stupid stupid, LOL.  We're still way ahead in security, IMO

[TanteStefana2]

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

Do we have any information about how it will work though?

LOL, Well, if you want to listen to this old dingbat's explanation, I'll give it a go for you

First, I don't know how IP blinding will work, but there will be blinding.  And I'm pretty sure we'll still be mixing our coins and probably no need for as many times as we do now because of the blinding.  Evan said all coins are going to be IX, and instantly spendable.  So I'm going to guess that mixing will be instant, as it's basically the same as a transaction, and instantly spendable.  And since many transactions can happen at one time between each block and since the Masternode network will be split up into many quorums, many transactions can be completed per second.  Thus I can see it all as virtually instantaneous to human senses.

Well, I hope that helped

Edited, hopefully for clarity.

Note:  Hum, sounds like magic, so I'm sure I'm off somewhere, LOL.  Maybe the coins have to wait for one block or something to be spent, I don't know???

[TanteStefana2]

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

Do we have any information about how it will work though?

Come on, even you must know that you are being ridicules. 

LOL, at least he's being a funny asshole there

[noobtrader]

Will be much better. Transactions are anon by default, instant (no hours of waiting for mixing), no fees.

Do we have any information about how it will work though?

Come on, even you must know that you are being ridicules. 

LOL, at least he's being a funny asshole there

i think its kind of sad, considering thats likely what he did last time with his coin of choice...