I have multiple masternodes.
Fu what vile admins in the Russian group in telegrams.
Didn't get a clear answer. Empty nonsense.
Got a ban for the truth
All my adequate proposals are rejected, and DCG has no ideas how to restore the price of the coin.
For 5 years, the salary invested in DASH has fallen in price by 50 times.
Over the next 5 years, the price of the DASH coin in the bear market is likely to be less than $1.
It is still a very good coin with massive potential.
In my view that potential is being heavily throttled by one small aspect of its governance which is its Achilles heel - namely that masternode owners perceived benefit is in conflict with their actual benefit.
Their perceived benefit = how much Dash per week they receive for free from the blockchain
Their actual benefit = how much the wider market (non Dash holders) values that benefit
Masternode holders are getting pain from the wider market because their rewards never matched their contribution to the network (the cost of hosting a node) and so the wider market tanked the value of their rewards in dollar value accordingly, realising that it was an unsustainable model compared to bitcoin where nodes are hosted at no cost to the network. (To any investor, cost of running the network is in inverse proportion to return on investment).
From a marketcap perspective, the problem with Dash protocol is that you are required to hold 1000 Dash to obtain those rewards so the wider market is unable to revalue Dash rewards without tanking the entire marketcap of Dash. Masternode holders are required to bear this pain in a higher proportion to most so their dollar value of capital loss wipes out the dollar value of any rewards they receive.
The way to address this issue, keep Dash alive, investable as a store of value and still offer healthy profit for masternodes IMO is to (for example):
1. Decouple the reward basis from the collateral and make it dynamic so that the reward could be valued independently (by the non Dash-holding market) thereby protecting the price from the dumping of "free Dash" that was never bought in the primary market (i.e. "mined") and returning its store-of-value properties to a performance equivalent to bitcoin while outperforming bitcoin on network services and convenience
or
2. Reduce the reward (in Dash terms) to a level commensurate with the cost of operating a masternode, thereby restricting the flow of Dash to exchanges propelled by near 100% profit taking. (Miners cannot gain anywhere near that level of reward from selling. Masternodes can).
This would arrest our marketcap depreciation by restricting supply to only:
A: miners who have to "purchase" it in the primary market straight from the blockchain
B: masternodes who have to "purchase" it in the primary market by providing network services commensurate with their reward, albeit at a profit level around parity with miners
C: secondary market buyers who can only "purchase" it from either of the primary buyers above
That is a tight model that outsiders (non Dash holders) might be interested in investing in.
However until that fact is acknowledged by Dash insiders we are headed for Page 2 and from there destination Peercoin. Rapidly plummeting to oblivion with everyone trying to get out.
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People who, in the past challenged my view pointed to proof of stake models in the context of "they do it so why can't we ?"
There is a very simple answer to why we can't do it which requires recourse to ancient monetary models. Most (surviving) POS chains have on chain sinks. i.e. the the blockchain token is valued on the basis of the volume or projected volume of ON-CHAIN services that chain will provide. (Because it's the on-chain services that consum the tokens, not off chain secondary markets where one buyer values the token higher than an existing holder. While that type of valuation is going on at the moment, it's speculative based on the future demand for ON-CHAIN services). So POS is basically the blockchain equivalent of buying a stock in a business thats here today, gone tomorrow.
Bitcoin on the other hand does not provide on chain services. It's digital gold and its value works the OPPOSITE way around from POS. i.s. it's a digital rock that is rare, sits in a vault and does nothing. Dash follows from that by turning gold nuggets into gold coins that are easier to trade but hold their value as well as bitcoin. It even inherits bitcoin protocol.
Dash therefore is not, was never and will never be a Proof of Stake coin because its original design was optimised around conserving the store of value properties of bitcoin while making it more nimble to transact. Only it can do this, in particular, because it has heritage, is original in its field and was born in the 5-year altcoin "nebula" that makes it rare.
But we throw this advantage away by trying to turn it into a POS chain. The protocol right now is like tying a lead weight to an eagle in terms of store of value. It will tank to oblivion no matter how many services are offered because if potential investors are only interested in services (rather than investing) there are a myriad of here today, gone tomorrow chains they can use.
Therefore, to survive, Dash has to have recourse to one of the approaches cited in the paragraph above to reflate its marketcap.
