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

[toknormal]

Huobi: Forget the price, check the volume.

[toknormal]

If a supermarket transaction is paid in cash, would they buffer the transaction?

You can't pay supermarkets in 'cash'.

What we commonly recognise as cash is actually credit denominated paper notes as opposed to cash denominated credit notes.

In other words things are so turned on their head that there is no cash-credit distinction anymore in the fiat economy. If there was you would definitely not be able to pay in 'cash' at a supermarket because it would involve carting lumps of gold, coal, barrels of oil or some such and there'd be a currency translation requirement for each sale.

Cryptocurrency improves things by virtue of making itself transferrable through wires but it doesn't change the fact that it's a limited supply commodity as opposed to a flexibly supply currency.

You can't use commodities as currencies without constantly repricing everything. Thats why currencies (as distinct from commodity assets) were invented because they support a high growth economy where people are coming up with new ideas all the time.

That principle isn't the problem, the problem is corruption. e.g. that liquidity is confused with value. A bank lends a mortgage holder the liquidity to buy a house but the mortgate holder has to BOTH underwrite that liquidity with 25 years of economic input AND pay the interest on the loan. Only one should prevail - i.e. you either pay the interest or you underwrite the value of the new liquidity.

[Solarminer]

One of those points is a fallacy, the concept of "store of value" only exists as a means of travelling from one market to another in the same way as a stamp, envelope and the postal network behind them are a means of transporting a message from a sender to a recipient. The telegraph, the fax/telephone and email progressively replaced the stamp and envelope for the vast majority of messages and crypto will ultimately do the same for value, at the moment we're at the telegraph stage but ultimately "store of value" will become a niche reserved for special cases where there isn't a more efficient method.

Interesting point re. 'travelling between markets'. I hadn't thought of it in that way but it is quite a good way of defining 'store of value'.

How about this?
Bitcoin is like a Check(10+ minutes are the register to fill it out and cashier has to call the bank to verify)

Dash is like cash that always has perfect change.

[toknormal]

How about this?
Bitcoin is like a Check(10+ minutes are the register to fill it out and cashier has to call the bank to verify)

Customers in a supermarket can be trading sheep for all they care and it would still clear in a millisecond.

It doesn't matter what asset your payment is denominated in, it will clear in an instant.

EDIT: Look at this, bitcoin on a complete tear.

[Solarminer]

If a supermarket transaction is paid in cash, would they buffer the transaction?

You can't pay supermarkets in 'cash'.

What we commonly recognise as cash is actually credit denominated paper notes as opposed to cash denominated credit notes.

In other words things are so turned on their head that there is no cash-credit distinction anymore in the fiat economy. If there was you would definitely not be able to pay in 'cash' at a supermarket because it would involve carting lumps of gold, coal, barrels of oil or some such and there'd be a currency translation requirement for each sale.

Impressive catch.  I raise you to Economics 990.

Technically, you could use quarters, dimes, nickel, pennies.  That is cash that can minted without debt.

The bills, yeah federal reserve notes = debt.  So you want debt notes....or you don't want them....yeah.  Awesome what they did with the monetary system.

[toknormal]

I raise you to Economics 990

Cheers ! I raise you a glass of single malt 

[TaoOfSaatoshi]

I'm not so sure, Tok. I may be coming at this from a different angle, but the more I think about Dash Evolution the more I get excited.

Think about this: A global social financial network, ran through a decentralized API, with advanced cryptography being the backbone under the hood. A perfect marriage of techno geeks and the teenage girl next door. Everyone in the world with a Dash page, most not even knowing what was this global network that makes it all possible.

Tao -  I identify with your enthusiasm, make no mistake. But 'the force' must be respected. In that regard there are two types of value:

[1] - utility value
[2] - monetary value

What do you notice about these ?

What I notice is that they are mutually exclusive. One does not enhance the other, it impedes it. The most perfect monetary token is one that does not go out of circulation and the most perfect utility item is one that stays in use and does not get used as a store of value.

In bitcoin troll wars, many people make the point that gold has a use in hi-fi connectors and tooth fillings and that this 'adds' to its value. But this is wrong. Monetary premium is maximised when utility premium is minimised because the latter's effect is to force the token out of circulation (or more specifically, out of its role as a store of value and into another role as a utility). There is plenty of anecdotal evidence to back this up, not least the fact that most of the world's gold supply is not residing in people's teeth but in JP Morgan's + Bank of China's vaults where its monetary premium (monetary value over cost of mining) far exceeds its utility premium (utility value over cost of mining).

Look around you. There are thousands of things that have acquired utility value. There are very few which have acquired monetary value. Monetary properties are a very rare thing and fine balance of 6 or 7 different qualities which are almost never found together. If you really think you happen to have stumbled on such a rare occurrence, you do not want to be doing b.s. like chat systems.

For all Dash's great ideas, one of the things that fell into its lap was being in the right place at the right time. That more than anything is where its value comes from and will remain. January 2014 will never return and if Dash had been invented today it would have a mountain to climb regardless of what tech was involved. It now has a gold mine to work with - all I'm saying is use it for what it is, not what it isn't.

This thing has the potential to be the Facebook of the financial realm

No it doesn't. It has the potential to acquire rare monetary properties that are only found in a couple of elements in the physical realm. One of the characteristics of good money is that it doesn't align itself with any particular sector.

What Dash needs to do (IMO) is consolidate those properties and meanwhile develop technologies that make itself accessible to markets that already have a presence in social media, retail, capital investment, and so on.

Nobody is going to invest in a capital asset because they can talk into their wallet.

Fair enough. But that's the thing with the DAPI. There's nothing stopping someone from using it to create such an app, and that creates demand for Dash. I see what you're saying though, don't limit the actual Digital Cash. Financial Facebook is only ONE thing it is capable of.

Re: Bitcoin: Niagara Falls. Looks like another P & D.

[Solarminer]

This thing has the potential to be the Facebook of the financial realm

No it doesn't. It has the potential to acquire rare monetary properties that are only found in a couple of elements in the physical realm. One of the characteristics of good money is that it doesn't align itself with any particular sector.

What Dash needs to do (IMO) is consolidate those properties and meanwhile develop technologies that make itself accessible to markets that already have a presence in social media, retail, capital investment, and so on.

Nobody is going to invest in a capital asset because they can talk into their wallet.

Fair enough. But that's the thing with the DAPI. There's nothing stopping someone from using it to create such an app, and that creates demand for Dash. I see what you're saying though, don't limit the actual Digital Cash. Financial Facebook is only ONE thing it is capable of.

Although, personally I don't see the big need for social network integration, it doesn't mean it isn't important.  But what is necessary to make it work?  DAPI.  So let's just do that part and let Mike Zuckerberg make Dashbook ....you know Mark's unknown brother. 

- Aww dang dashbook.com is already taken...could make a quick buck on that one.

[TanteStefana2]

Evan Duffield announces DASH Evolution as a Social Market
+ Video  
http://www.newsbtc.com/2015/12/11/evan-duffield-explains-dash-evolution-social-market/



Dash Video Link
https://youtu.be/is0dN0JScqc

Super-cool video!!
Let's translate it to as many languages as possible! 

I'm working on the English transcript but my eyes are crossing as it's kinda long.  will hopefully have it in 6 or so hours, as I have to do some errands as well.  Hope that'll be good enough,  Hate to see the work duplicated.

Done!  Wow, if you haven't watched this yet, Evan is really growing as an interviewee, he was really great!  I really like Juan Galt, he's a smart young man

[TanteStefana2]

Bitcoin double top.

Make or break. (b.t.w. Notice that square, slightly descending channel in the middle. I've been wondering about that for a couple of weeks. Looks like a massive holder doing a slow cash out or something - Huobi). If it hadn't been for that the correction looks like it would have been perfectly shaped.

To me, that shows how bullish the market is right now. I think this rally has legs for the first time in nearly two years based on the massive volumes we've been seeing and apparent resistance to cave-ins.

We may be seeing the next phase of growth.

So what does that huge dump mean, going from 450+ to 415~  It bounced back afterwards, but screwed up a nice climb  Is there healthy pressure to continue to go up?  How is Dash looking here?  Thanks Tok!  (I see this on BTCe)

[TanteStefana2]

LOL

Wow, another big drop, down to 411 again!  Crazy volatility!

[tungfa]

Please help Translate !!

https://dashtalk.org/threads/please-help-translate-evans-interview.7284/
 

(Tx Tante)

[toknormal]

Fair enough. But that's the thing with the DAPI. There's nothing stopping someone from using it to create such an app

Indeed - and I think thats great, totally agree with the merits of promoting Dash for payments on social networks.

I'm just saying that the things to be avoided are (a) turning the currency into something that looks like a social networking tool (b) sinking developer time into technology thats nothing to do with currency and more the domain of 3rd party development.

[dihydrogenmonoxide]

Call for Dash video translators

We currently have two videos which are in need of subtitle translations. Please help translating by contributing to the Dash Videos Transifex project

Translate 7600 words to spread the word

https://dashtalk.org/threads/please-help-translate-the-mexico-conference-video-of-evan.7245/
https://dashtalk.org/threads/please-help-translate-evans-interview.7284/






Thanks!

[qwizzie]

Bitcoin climbing the red wall : https://bitcoinwisdom.com/markets/huobi/btccny



Dash sell force getting weaker and weaker : http://dc-charts.com/depth_dash.php?ex=16&cu=0&tz=5&ar=1



Looks like Dash is focussing on consolidating and strenghtening its 5th marketcap rank towards the North America Bitcoin Conference 21 & 22 january 2016 in Miami
(where Dash will be present too).

[toknormal]

Bitcoin climbing the red wall : https://bitcoinwisdom.com/markets/huobi/btccny

The (buy) force is strong with Huobi.

It's back to where it was 24 hours ago.

[bitowl]

How bigs the blockchain currently? Want to play around with this a bit but my hd is near full. Any light wallets like electrum but for dash?

[qwizzie]

Bitcoin climbing the red wall : https://bitcoinwisdom.com/markets/huobi/btccny

The (buy) force is strong with Huobi.

It's back to where it was 24 hours ago.

It will be interesting to see next year how China's economy and its Yuan price develops,
a stagnating Chinese economy and falling Yuan valuta appearently makes for an explosive Bitcoin upward pressure.

[qwizzie]

How bigs the blockchain currently? Want to play around with this a bit but my hd is near full. Any light wallets like electrum but for dash?

Currently dev team is working on this light wallet / SPV wallet (focussing on making its simple and working for the Miami conference) :

I just forked DarkWallet and mocked up a client, what do you think?



It seems like it might be a great platform for connecting to DAPI. The code is really nice as well. If anyone looking at this is really good at javascript and wants to help, I see a role for you! Email me at evan@dash.org.

We're working on the prototype design... feel free to give input

https://docs.google.com/document/d/1xD0ACmiTEQ1KEMNC6FWrWi1Rh_ipmPMn8L3zvR11GA4/edit?usp=sharing

Plus this : https://dashtalk.org/threads/dash-electrum-release-v0-2-4-1.6497/

[toknormal]

It will be interesting to see next year how China's economy and its Yuan price develops,
an stagnating Chinese economy and falling Yuan appearently makes for an explosive Bitcoin upward pressure.

Yeah, so it seems. Zerohedge keeps highlighting that fact to its slightly irked readership. (Tyler seems to have had his bitcoin 'road to damascus' moment at some point in the last couple of years).

Interesting stock markets yesterday. Looks like they're starting to price in a rate rise but the sink rate must be a bit worrying for central banks.

What is going to happen next ?

Who knows ? David Stockman sez central banks are backed into a corner. His critics say they're not and that they can do anything they want and get away with it.