DASH mining in any capacity is officially dead

Do you see current DASH algorithm as unsustainable in terms of scalability?

  • Yes

    Votes: 6 42.9%

  • No

    Votes: 8 57.1%
  • Total voters
    14
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Checkerama said:
You're a funny guy I'll give you that :-D You don't even know the difference between investment and speculation. Then you wonder why I call MNOs idiots.

If it loses its crown, it'll be to a hard fork and to another version of bitcoin. Coinbase has already gotten hacked - people panic sold, then other people bought the dip. Same thing happened with Bithumb, same thing happened with OKEx, same thing happened with GDAX... keep hedging your hopes though. At least the lack of liquidity keeps DASH under the radar for no one to care about hacking it.

https://themerkle.com/coinbase-user...-negligence-company-claims-no-responsibility/
http://bgr.com/2017/07/05/bitcoin-exchange-hack-bithumb/
https://cointelegraph.com/news/chinese-bitcoin-exchange-okex-hacked-for-3-mln-police-not-interested

But you've peaked my interest on these "other businesses" who have completely dropped bitcoin or any variation of it in favor of other cryptos. Mind naming one?
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I know what difference other people put between investment and speculation, but it's not my definition. Again, you can call it what you like but in my world success is defined by outcome. You're either good at making money, or not, the proof is on the balance sheet.

How about Dell computers, "[UPDATE] Due to low demand, Bitcoin is no longer available as a form of payment. Our apologies for any inconvenience this may cause. You can still complete your purchase through a number of alternative payment options such as PayPal, all major Credit Cards, and Dell Financial Services."
https://blog.dell.com/en-us/we-re-now-accepting-bitcoin-on-dell-com/

Hosting companies, for example, are seeing less bitcoin payments. Do you think people are willing to pay $5 - $10 fees on a $20 hosting package? Or how about yours.org that was originally bitcoin, then litecoin and now bitcoin cash.
 
GrandMasterDash said:
I know what difference other people put between investment and speculation, but it's not my definition. Again, you can call it what you like but in my world success is defined by outcome. You're either good at making money, or not, the proof is on the balance sheet.

How about Dell computers, "[UPDATE] Due to low demand, Bitcoin is no longer available as a form of payment. Our apologies for any inconvenience this may cause. You can still complete your purchase through a number of alternative payment options such as PayPal, all major Credit Cards, and Dell Financial Services."
https://blog.dell.com/en-us/we-re-now-accepting-bitcoin-on-dell-com/

Hosting companies, for example, are seeing less bitcoin payments. Do you think people are willing to pay $5 - $10 fees on a $20 hosting package? Or how about yours.org that was originally bitcoin, then litecoin and now bitcoin cash.
Click to expand...

I thought you were going to give me an actual altcoin, not another variation of bitcoin. Bitcoin Cash IS a variation of Bitcoin.. or did you not get the memo they shared the same blockchain?

Also thats exactly what im saying about bitcoin payments - be prepared when it gets its shit together and raises block size, which would decrease tx fees, which also explains why they move to BCC - already got its shit together, and it also explains the pump up in its price. Let me know when they decide DASH is better for them than a variation of bitcoin though.

I'm not surprised about Dell dropping it completely - they have investors to answer to, and the last thing they need is to explain to them why their valuations dropped a certain percentage because they accepted bitcoins. Besides, no one holding a considerable amount of bitcoin is buying Dell - they're quite garbage :)

My general rule of thumb for the world of crypto is that its bad for corporations, but corporations will be replaced by decentralized hubs (funded via ICOs) which provide the same service. So a corporation dropping bitcoin? Not surprised. They like their fiat.
 
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@Checkerama you are right, but you are doing the same mistake I do. Just complaining.
Lets stop complaining, and try a hard fork of Dash.
Lets give voting rights to the miners and let them vote the numbers of difficulty.
Lets give voting rights to whoever is staking, and allow him to decide for the budget proposals.
And we will see if people will follow us, or the stupid MNOs.
The real power in the crypto world, is having a strong community with tight bonds.
Lets build one.
 
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demo said:
@Checkerama you are right, but you are doing the same mistake I do. Just complaining.
Lets stop complaining, and try a hard fork of Dash.
Lets give voting rights to the miners and let them vote the numbers of difficulty.
Lets give voting rights to whoever is staking, and allow him decide for the budget.
And see if people will follow us, or the stupid MNOs.

The power in crypto world, is having a strong community with tight bonds.
Lets build one.
Click to expand...

Yeah but if DASH hard forks its game over for the currency (governance is like its only good feature) - I either deal with the MNOs or move to Bitcoin... which I've already bought 20 S9's of.
 
Checkerama said:
Yeah but if DASH hard forks its game over for the currency (governance is like its only good feature) - I either deal with the MNOs or move to Bitcoin... which I've already bought 20 S9's of.
Click to expand...

Governace is a good concept, but Dash's governance really sucks.
In order to build a community that have bonds, we have to fix governance.
Good governance creates tight bonds among community.
As long as MNO's remain stupid and full of spies , and they keep voting for bubbles, I think people will leave Dash and join our fork.

The market is really thirsty for a good governed coin. Tezos received 232 million dollars, for just promising good governance.
 
If you consider the rise in Dash price and adoption during this year, I would say that governance works just fine.

Also, who are you to say that there are no bonds in the community?
I'm actually seeing first hand the forming of a local community in my city right now, with meetups that will probably become regular. All thanks to one of the proposals that were approved by the MN network.
 
Dandy said:
If you consider the rise in Dash price and adoption during this year, I would say that governance works just fine.

Also, who are you to say that there are no bonds in the community?
I'm actually seeing first hand the forming of a local community in my city right now, with meetups that will probably become regular. All thanks to one of the proposals that were approved by the MN network.
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That is very good. What is your city? Do you want to reveal the name of this city to us?
Is it Belgrade?
 
Dandy said:
If you consider the rise in Dash price and adoption during this year, I would say that governance works just fine.
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I don't think its governance thats attracting the price increase - anyone would invest into DASH much like they invest into LTC because of its low price point in comparison to Bitcoins, and an increase would see to it that they make more profits moreso than holding an 8100 dollar crypto (100% increase of 70 dollars is better than a 100% increase in 450, and much better than 100% increase of 8100). Comparing an increase since the beginning of the year when it was 8 dollars is also quite ludacris - Bitconnect has also seen an increase in price similar to DASH (if not more), but you won't ever see it on CNBC as a great "investment" vehicle as much as bitcoin is.

Shit, even Ripple has exposure in the financial industry and its only worth 23 cents. Price increase does not equate to greater adoption (a better measure is liquidity, which currently is skewed due to bad news coming from multiple news sources) - if anything, it just proves the greater fools theory is alive and kicking.
 
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I did my homework before mining my ASIC.
However, it was not foreseeable at that time that Difficulty would shoot up to 100 Mio within 2 months.

Don't forget, that even ASIC manufacturers take a riskt too.
They are developing new products, for an unknown future.
It's OK for you to sit back in you armchair like Warren Buffet and say you should have assessed the risk, risk is just that ! it can always go the other way.
but forget not that without Miners taking Risk, there is no Dash !

Why should all the risk fall on Miners ?

Dash is flawed. It will die quickly intodays crypto space.
Greed will be the reason for it.
 
Checkerama said:
Thanks for the patience - I've whipped up a quick article based on our conversation to really convey the problems I am seeing with the algorithm and how it fails to incentivize a worldwide, decentralized, mining adoption. Check it out:

https://medium.com/@aquilesgomez/hi...11-algorithm-on-the-dash-network-f48533a5e6fe
Click to expand...
Mr. Gomez, I'm impressed by your communications skills and I think you can help bring my mobile app to the next level. I'm proposing business partnership you're interested. You can email me at. [email protected] or call me 303.949.1832
 
I live in Finland and a had this create vision to built miner farm. I ordered 3xD3 & 2xS9.
Me and my friend are currently building our first miner room. Right now 2xS9, 1xD3, 1xL3+ & 6xMining rigs are mining at full speed in my friends basement. I have now two D3 what arent doing nothing. They are in my closet because they dont mine well.
Our D3 what is working is currently mining Dash and the profits aint looking good.
S9 Saved our project and L3+.
D3's only cost problems with theyr noice, heat and the biggest issue is the low profits. If this Dash mining is this hard we will start to mine Cannabiscoin and Helium when it comes to market. If Dash dont have flow in currency back and forward it wont never rice and it will only stay at the same level. I have much more equipment in this project than my friend have but i still hope that in the future we could split our profits 50/50 and build something great with this project. In these times i will put more money in this project because i can and i try to lift ny friend to the same level with me. D3 orders were maby a little obsticle in our road but i think that we will survive togheter. We should do the same thing in here Dash community. (MN & Miners). But if it doesent work i have to move my building projects else where. Sry for my rusty english...Greetings from Finland!
 
so then what the hackers changes the votes of the 100's of amazon hosted masternodes? also dash mining is not dead or there wouldn't have been such a rush on x11 miners.
 
Miner237 said:
so then what the hackers changes the votes of the 100's of amazon hosted masternodes? also dash mining is not dead or there wouldn't have been such a rush on x11 miners.
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Well changing the vote would be a big deal, since the network has a hard on for shitty governance - now its hackable? But wouldn't they just unlock the MN 1000 DASH and dump it somewhere? But I guess it depends where you stored it... anyway...

It's dead BECAUSE of the rush. The network can't even sustain a few months worth of ASICs without profitability plummeting to the floor. This is not only a DASH thing, but an X11 thing - all of the coins on the algorithm give shit returns and I've mathematically calculated why that is in my medium post.

Miners are so desperate that you lost over 1/3 of your hashrate to a shitcoin for a day or two because theyre hoping to jump on bitcoin's name success by mining segwit2x (which isnt the original segwit2x)

upload_2017-12-30_5-18-52.png
 
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