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

[tungfa]

Dash is Determined to Supersede Bitcoin as a Real PayPal Alternative

http://forklog.net/dash-is-determined-to-supersede-bitcoin-as-a-real-paypal-alternative/

[TanteStefana2]

How are customers going to obtain the DASH? The vending machine proof of concept included giving people dash via a paper wallet. Selling (converting) currency from fiat to DASH adds significant complexity. Converting crypto to fiat is easy. We NEED the other way around to be easy as well. That is the most glaring deficiency we have right now as a currency.

 Exactly this!

 The problems is when FIAT is involved, government is involved.

 So I would suggest thinking about merchants, absolutely. Make it easy for people that manually produce things, or intellectually produce things, to attain Dash by selling goods and services that do not rely on a huge chain of transfer of capital.

 Time is money, but you don't buy time, you can only sell it. When you have to pay suppliers,  to be able to transform and sell your goods, at this moment in time you have to fall back on FIAT.

 Service and boutique/connoisseur grade markets is the way to go, IMHO

 This way, distribution actually happens to a larger scale into the populous. When numbers get critical, demand will force supply to offer Dash in the form of first and second necessity goods.

 That is the only reason I am voting no on this proposal.

If you just sell Dash, it's not complex.  You have to do the KYC stuff when you exchange dash for fiat.  Otherwise it's just an item for sale, like a credit.

[toknormal]

Fantastic mission statement !



However, the one below has given me a bit of a headache since I have never seen how a risk asset can work as a currency in a modern economy (maybe in a medieval economy where things moved 1000 times slower).



REFLECTION:

I just spend half an hour writing a post about this - how I didn’t see risk assets working as a ‘paypal’ medium because of their deflationary properties transmitting liquidity demands to product prices, but now I’ve had second thoughts about that and am not sure.

If prices are not denominated in the asset (in this case Dash) then it could work. For example Bitpay lets their clients continue to denominate prices in dollars but use Bitcoin as the payment medium, therefore separating the ‘currency’ from the asset which backs that currency and insulating the products from bitcoin’s deflationary properties. However I’m trying to reconcile this with the fact that Dash is a ‘self contained’ currency. Need to think.

I’ll post my previous concerns anyway by way of stimulating thought on this subject which I believe to be a major challenge for Dash as it moves further towards the area of the goods payments’ realm.

WHAT I WAS GOING TO SAY….

For all Fiat's failings it does do one thing far more effectively than crypto (with the exception of things like Bitshares, Tether etc) and that is respond to demands for liquidity without recourse to price inflation/deflation.

This brings us full circle to a philosophical question about how money should work (and the difference between 'money' and 'currency').

********** An Illustration ***********

Lets say, Apples, Pears and Oranges are all priced in Dash in the Dash 'Paypal Market'.

It's a hot day and everybody is thirsty so there is a surge in demand for oranges. There are plenty of oranges but a limited amount of Dash with which to buy them, so the effect of this is to crash the price of Apples and Pears (somewhat like what's happening with oil at the moment with the strengthening dollar) - not because there was a drop in demand for those products, but because there was a surge in demand for the currency in which they are price denominated.

Currencies such as Bitshares deal with this by separating the currency liquidity from the value (in a 2-tier monetary system where demand for stable liquidity is supported by the demand for the risk asset backing it). Surges in demand for liquidity therefore reflect in the VALUE of the asset which backs the currency instead of the prices of goods which are denominated in that currency.

Thats the one reason why I don't see Dash becoming a 'Paypal' medium to pay for goods and why I think it's much more like bitcoin than Paypal. The economics of risk assets (limited supply commodities which have traditionally backed currencies in the past) have far more to say about this than the technologies of instant payments or social-media friendly wallets IMO.

So maybe we can consider three monetary roles in this respect:

[1] - electronic assets which act as settlement layers

[2] - electronic assets which are instantly tradeable (like gold which travels through wires)

[3] - electronic stable currencies backed by a capital base

Dash is in category 2. It simply isn't a currency (as distinct from 'money') by any modern definition since it's deflationary and therefore will always transmit demand for it's own liquidity to all denominated trades.

Bitpay deals with this by pricing everything in Fiat and then making a realtime evaluation as to how much bitcoin is needed to facilitate that trade which may vary from hour to hour. To me, doing this effectively and transparently is the real problem to solve in turning a cryptocurrency into a ‘Paypal’ type medium. Not so much user friendly wallets and social monetary networks.

[spatula]

Why are you here?

[TanteStefana2]

  I know this sucks to read, and I hate saying this, but I feel I must express my thoughts.

I have been brewing an (obvious) idea to achieve the same result. Propose the funding of an mk1 non-FIAT WP payment processor plugin for Dash. Still researching and debating with some team members so I can structure a proposal better. The idea is the same at its core as yours, just a different target merchant. This will be software only, outsourced, very low cost and highly deployable throughout thousands of online stores worldwide. The idea came because I'm opening a little web-shop later this year for a very specific target audience and I plan on offering serious discount if payed with Dash, so I incentivise people to go and get Dash because the discount alone will be a huge incentive.

Well, I think your effort to make a Dash plugin is great.  And that may gain some adoption.  I don't see web purchasing as a clear advantage for Dash.  Bitcoin or any other bitclone can do this.  The 10+ block time isn't a big deal, since you only ship once a day.  If you did this and required InstantX for movies or something that people want for instant download, then you have something.  Micropayments would also be a huge win for dash with the low fees.

I already approached a software company to design a payment terminal that would accept Dash for a gas station.  They couldn't do it.  They had no place to start.  InstantX?  what is that?  I detect it by what now?  dashd - huh?  Even if I could give them the Dash 101 and Dash 201 class, they still couldn't do it.  Even someone working in the Bitcoin space couldn't do InstantX detection.  This is cutting edge technology that isn't even possible without the developers in Dash helping us.  Once we build out the tools then other parties can deploy.

Now think about your payment plugin.  What if that could be used on a wifi portal that is in a retail store?  Now you can deploy to any store with just wifi and our smart box.  Using your phone you would scan each item and it adds it to your web portal shopping cart page and when done hit pay with your plugin.  The advantage with point of sale is huge!

I just needed to bump this, because i feel this project is extremely important and ask you all out there to please understand, this is something that needs to be done by the core team, not a for profit entity.  Whomever the merchant wants to work with to exchange their Dash to Fiat, if they want to do that, is separate, what we want to build is a point of sale system that works seamlessly for merchants of all types so that Dash's most unique and useful ability, instant transactions, can be put to real world use.  What Evan et al are doing right now will be great for online / daily and even possibly face to face transactions by making it easier, but for face to face transactions, it will make VERY little difference.  And that is where Dash is unique.

We have an opportunity to fund a third pillar, the merchant services pillar (as opposed to the core development and marketing pillars) so that we can stay ahead of the competition.  Competition is always on our tail.  We have a group of talented people who deeply understand this need and have many great ideas on how to get over this adoption hurdle.  Please vote YES to this proposal.  It's that important.

I can think of no project more in line with what the budget system was intended to fund.  What could be more central, more important than to create merchant adoption with open sourced product design and software?  As well as support?  Seriously?  

With open sourced product design and software, anyone can step up and start a little company - like a handy man- and for no research or development, begin building these things and installing them in local stores.  With hundreds of such people all around the country willing to install these, and provide service and support, they would vault adoption into the stratosphere.  Not only that, there would be hundreds of small companies thriving, and merchants would get excellent service and products for a very cheap price.  No fancy "Hewlett Packard" logo on the equipment that needs to be paid for, instead, maybe the service provider "handy man" can put his own logo on it.  There would be no resistance to adoption, add exchange support of your choice until Dash stabilizes and you no longer care about purchasing fiat, and you're done.  Those exchanges already exist, all we need is the hardware and software to install.  

Again, please vote yes! dash-cli mnbudget vote-many 1cfc2525f33d8dee81640f6860fc85751acea552724ec58d6619f7fcee694ea1 yes

[hashmoon]

bought some only for short ride and dump,
but really, dash have better approach than that over complicated vaporware called eth..

[noobtrader]

It's official!  Our winery website is up... You can now buy our wines and soon our retail items with bitcoin and...... DASH!!!  woot woot.  Super excited to have this launched.  Now you can meet who I am too... www.misconductwinec.com

Edit: We accept Bitcoin and DASH at our on site restaurant as well.

Cheers, Richard

Congratulation !!!

Awesome and great looking site...

good to hear that   

[tungfa]

A Conversation with Evan Duffield, Founder of Dash

https://coinreport.net/conversation-evan-duffield-dan-diaz-dash/

 

[qwizzie]

Allocated Budget Overview



In order for budget proposal Vendor-Experience to pass, it would have to reach the 10% thresshold (yes votes-no votes > 10% of total masternodes) and
replace one of these current budget proposals as there is simply not enough budget funds available currently. Also keep in mind next month's budget will even be less
(7449 according Dashwhale) .

That is why it is so very important these days to introduce new budget proposals with as much details as possible as they will be directly competing against
already established budget proposals.

Far better would be to set the start date of new budget proposals to a date where more budget funds become available again (21st of April 2016 for example)


 
 

[TanteStefana2]

Allocated Budget Overview



In order for budget proposal Vendor-Experience to pass, it would have to reach the 10% thresshold (yes votes-no votes > 10% of total masternodes) and
replace one of these current budget proposals as there is simply not enough budget funds available currently and keep in mind next month's budget will even be less.

That is why it is so very important these days to introduce new budget proposals with as much details as possible as they will be directly competing against
already established budget proposals.

Far better would be to set the start date of new budget proposals to a date where more budget funds become available again (21st of April 2016 for example)

Yet, if it passes, it should start getting paid in 3 months, by which time I hope we'll have enough votes to keep it above water.  So it's not a waste of time to vote yes.  

Oh, and congratulations, BigrCanada!  Love the site, and am saving for an inverno, but woops, costs more to ship than to buy, LOL.  So maybe I'll try to see if my daughter and I can't take a nice road trip this summer instead

[qwizzie]

Allocated Budget Overview



In order for budget proposal Vendor-Experience to pass, it would have to reach the 10% thresshold (yes votes-no votes > 10% of total masternodes) and
replace one of these current budget proposals as there is simply not enough budget funds available currently and keep in mind next month's budget will even be less.

That is why it is so very important these days to introduce new budget proposals with as much details as possible as they will be directly competing against
already established budget proposals.

Far better would be to set the start date of new budget proposals to a date where more budget funds become available again (21st of April 2016 for example)

Yet, if it passes, it should start getting paid in 3 months, by which time I hope we'll have enough votes to keep it above water.  So it's not a waste of time to vote yes.  

Oh, and congratulations, BigrCanada!  Love the site, and am saving for an inverno, but woops, costs more to ship than to buy, LOL.  So maybe I'll try to see if my daughter and I can't take a nice road trip this summer instead

look again at the start date !! If it passes, it will start in 6 days !! (If it gets more votes then the already established budget proposals, which means one of these already established budgets will drop off).
It would have been better if more thought was spent at the startdate, the available budget space and the time to discuss it all.

[TanteStefana2]

Allocated Budget Overview



In order for budget proposal Vendor-Experience to pass, it would have to reach the 10% thresshold (yes votes-no votes > 10% of total masternodes) and
replace one of these current budget proposals as there is simply not enough budget funds available currently and keep in mind next month's budget will even be less.

That is why it is so very important these days to introduce new budget proposals with as much details as possible as they will be directly competing against
already established budget proposals.

Far better would be to set the start date of new budget proposals to a date where more budget funds become available again (21st of April 2016 for example)

Yet, if it passes, it should start getting paid in 3 months, by which time I hope we'll have enough votes to keep it above water.  So it's not a waste of time to vote yes.  

Oh, and congratulations, BigrCanada!  Love the site, and am saving for an inverno, but woops, costs more to ship than to buy, LOL.  So maybe I'll try to see if my daughter and I can't take a nice road trip this summer instead

look again at the start date !! If it passes it will start in 6 days !! If it gets more votes then the already established budget proposals .. which means one of these already established budgets will drop off.

Yes it would.  That's how Evan designed this.  I wondered why do it this way from the beginning because a proposal isn't guaranteed to be paid even after winning enough votes.  This kind of makes the budget system fickle, where you can't be certain you will get all your payments.  

Still, I'd like to see this one at least pass, even if it can't get funded.  I don't want to see it usurp other budgets that are in the mix at the moment, I'll admit that.  I don't think it will, but if it passes, it can start up in about 3 months.  

I don't believe, though I could be wrong, that the budget proposal is killed if it drops off the list for the month, just that it doesn't get paid for that month. 

[qwizzie]

yeah your right, it wont drop off as long as it stays above the 10% tresshold but it will be missing the budget payment for that month(s)

edit : congratz BigrCanada, nice job with adding Dash as payment instrument to your own business ..

[TaoOfSaatoshi]

It's official!  Our winery website is up... You can now buy our wines and soon our retail items with bitcoin and...... DASH!!!  woot woot.  Super excited to have this launched.  Now you can meet who I am too... www.misconductwinec.com

Edit: We accept Bitcoin and DASH at our on site restaurant as well.

Cheers, Richard

Nice website! That's news worthy of spreading around...



https://twitter.com/taoofsatoshi/status/693404255953252353

[splawik21]

Incredible!
Looks like we hit the historical ATH in difficulty!
Checked all time period but can`t pull it from that chart.
@ last 10k blocks it is visible.

10524!

[toknormal]

Incredible!
Looks like we hit the historical ATH in difficulty!

Really ? If thats the case it's a great endorsement of the economic model - the fact that the reward sharing has complimented rather than inhibited the mining incentive.

[dihydrogenmonoxide]

Incredible!
Looks like we hit the historical ATH in difficulty!

Really ? If thats the case it's a great endorsement of the economic model - the fact that the reward sharing has complimented rather than inhibited the mining incentive.

Yep, block 411381 had a difficulty of 10524.894

http://explorer.dash.org/block/000000000004c35471db1ea1fa4ec14ad7401bfd2b291a701f52dfe8416c27af

[GhostPlayer]

 Holy McHash! 

[coinrus9]

my dream is to run a masternode one day
one of things i don't like is the high prices ! and maybe too much centralization of ownership and mining power. but this is the same for all coins
i was talking with a friend about crypto currency and she say:
'why would the average person want to move to and adopt a currency when majority of power is in very few hands ? will be exactly the same like today's monetary system. a few controls everything.'

this seem more like a startup than something to be used by everyone around the world ?

and sorry @splawik21, i would never want to use a service for masternodes and give my coins. to something like a bank. and destroy the fun running it for nerds/dorks/geeks
maybe you are trustworthy but can never know, you might get hacked or worse, without insurance. in the bank at least there is suppose to be an insurance

i though of idea
maybe somehow on protocol level few people can create a 'shared masternode' and still hold their coins
lets say i have 100 coins, and two more people have 450 coins each. so we can run full nodes and somehow combining our coins without giving the coins.
and when all 3 nodes are up they will get payed splitting reward
I don't have a clue if it is possible to program  

[toknormal]

'why would the average person want to move to and adopt a currency when majority of power is in very few hands ?

The reason that "majority of power is in very few hands" is that the majority of people don't want it - simple as that.

If they wanted it they could have it.

Do you notice something ? When things are cheap, people don't want them so they don't invest in them. When they are expensive they DO want them and so they invest.

Right now, a significant chunk of the Dash coin supply costs peanuts (relatively speaking). Only a few people are investing (relative to the world economy). When it becomes very expensive (e.g. if it gets a market cap of billions), far more people will invest.

Thats just the way the work works. Blame the people not the asset.