DASH Misconceptions Infographic

DashDude

DashDude

Active member
DASH already has a nice infographic which does a great job of showing what DASH is all about. However, if you spend any time in forums or Reddit discussing DASH you hear the same misconceptions over and over and over.

Most of these misconceptions are covered in the excellent sticky at the /r/dashpay subReddit. To help communicate these clarifications better I thought it might be a nice idea to have an infographic to cover them. This way we'd have one infographic to cover what DASH is and one to cover what DASH isn't.

When I'm swatting down trolls on Reddit, it would be nice to just post a link to the infographic and say "See number 6" or whatever answer deals with their FUD. I can help organize the content, but I'm no graphic designer. Is there someone that wants to help with this? @tungfa did you do the one that's there already?
 
DashDude said:
DASH already has a nice infographic which does a great job of showing what DASH is all about. However, if you spend any time in forums or Reddit discussing DASH you hear the same misconceptions over and over and over.

Most of these misconceptions are covered in the excellent sticky at the /r/dashpay subReddit. To help communicate these clarifications better I thought it might be a nice idea to have an infographic to cover them. This way we'd have one infographic to cover what DASH is and one to cover what DASH isn't.

When I'm swatting down trolls on Reddit, it would be nice to just post a link to the infographic and say "See number 6" or whatever answer deals with their FUD. I can help organize the content, but I'm no graphic designer. Is there someone that wants to help with this? @tungfa did you do the one that's there already?
Click to expand...

no i did not do the other one
a community member did some month ago
"what dash does and does not"
the "does not" part ... can be long and extensive and whatnot .... (thinking) ... the more the better i agree ....
last guy used an online platform for cheap to produce that and came pretty far i think (have to think for name of guy + page he used) :rolleyes:
 
tungfa said:
last guy used an online platform for cheap to produce that and came pretty far i think (have to think for name of guy + page he used) :rolleyes:
Click to expand...

I got an access to said platform from that helpful guy, that's how I made the French version of the infographic. I also forgot the name of the guy, but I'm sure he's on the Dash Nation Slack because that's where he gave me the URL of the document on the editing platform. Unfortunately Slack won't let me find my older messages to the guy.
 
OK, here is my first draft for content for a DASH misconceptions infographic. Would really be great to partner up with someone good at graphic design to help turn this into an actual infographic - my graphic design skills are rubbish!

Still no word from @jarroyo here or on slack.

Any corrections or feedback on this content so far? Thanks!


DASH Misconceptions Infographic

  1. DASH isn’t decentralized because of its Masternodes. – There are over 4,500 DASH Masternodes which makes it relatively more decentralized than other coins. Bitcoin has over 8,800 full nodes, but is a much larger currency. Bitcoin would have to have over 150,000 full nodes to have the same node to market cap ratio as DASH. DASH should always have a higher node to market cap ratio than Bitcoin because DASH nodes are financially incentivized to serve the network and Bitcoin nodes are not.

  2. DASH Masternodes are a bad idea because the government could just buy them up and control the network. – Running a Masternode requires a stake of 1,000 DASH. At a recent price of $200 per DASH this represents a stake of $200,000 per Masternode. To buy half the Masternodes at this price would cost $450 million dollars IF the price did not rise during the attack. However, trying to buy this much DASH in the face of limited supply could easily cause the price to increase 10x making this a VERY expensive attack. This would be similar in nature to a 51% attack on Bitcoin mining – theoretically possible, but difficult and expensive.

  3. DASH price is artificially elevated because so much DASH is “locked up” in DASH Masternodes. – The 1,000 DASH that is staked for each Masternode is not locked up. The Masternode can be taken offline and the DASH can be sold at any time. The ratio of the amount of DASH staked in a Masternode is probably similar to Bitcoin held in cold storage. The difference is that DASH Masternodes serve the network and get paid to do it!

  4. DASH PrivateSend isn’t really private because the Masternodes could be compromised to spy on the network. – Masternodes are selected randomly in a PrivateSend transaction and multiple mixing rounds are used with multiple Masternodes used in each round. Therefore, even if an attacker controlled 25% of the Masternodes the odds of tracking a transaction through 8 rounds of mixing is less than 0.004%.

  5. DASH has poor privacy because PrivateSend transactions are optional and not mandatory. – DASH is fungible because it has optional mixing through PrivateSend which has never been broken. If a merchant didn’t want to receive mixed coins because of a fear of where they might have been at some time in the past one could simply give the merchant unmixed coins. Also, normal DASH transactions are much smaller (in kb) than other private protocol transactions so on chain scaling is simpler with DASH. DASH offers the best combination of privacy when it’s desired, instant transactions when desired and a clear roadmap for on chain scaling that no other coin has.

  6. DASH is an Instamine scam – There are always challenges when issuing a new coin. DASH had no premine and did not have an ICO. However, due to a problem with the mining difficulty adjustment approximately 1.9 million DASH were mined in the first 24 hours – a “fastmine.” The community was asked if this should be corrected by hard fork, but it was decided to leave it as is. A distribution analysis shows a large portion of the quickly mined coins were simply dumped by the miners. From April to December of 2015 DASH traded for around $2 so it’s hard to argue that no one had a chance to get in while it was cheap. Evan Duffield, DASH creator and the purported beneficiary of the Instamine controls no more than 256,000 DASH and will give away 80% of that to fund DAOs to support the DASH community. He is still working hard on the project full time today. Evan also controls no Masternodes and has no vote in the community. For much more information go to DASH.org and review the detailed wiki entry on this topic.

  7. DASH is a scam because a huge portion of DASH is owned by only a few people - According to bitinfocharts.com Wealth Distribution statistics DASH’s wealth distribution is similar to or better than other leading coins despite being newer and having had less time to become distributed. See the chart below.


    upload_2017-8-13_13-13-3.png


  8. DASH has few developers and very little activity on Github. – The unique DASH treasury system currently pays 38 people (and growing very rapidly) to work on DASH full-time and several part-time people and contractors. See DASH.org/team for more information. The DASH github currently looks inactive because DASH Evolution is being worked in private repositories due to competitive reasons. The code will be released and open-sourced together with the product.

  9. DASH is a Ponzi scheme because Masternodes earn a return on their stake. – Masternodes stake 1,000 DASH and serve the DASH network by running robust full nodes. In return, they earn 45% of the block rewards that are paid when new blocks are mined. This currently provides a return of approximately 8% annually to Masternode owners. With most currencies 100% of the block reward is paid to miners who spend most of it on electricity and mining hardware. With DASH the block reward is split to support miners, Masternode operators and developers so that all critical parts of the ecosystem are financially incentivized to thrive.

  10. DASH is just a marketing gimmick. – With DASH’s many unique features such as InstantSend, PrivateSend, Masternode governance system and the world’s first functioning DAO, DASH can hardly be called a gimmick. DASH does fund some promotional activities because very few people in the world know much about cryptocurrencies and we want everyone to have the opportunity to benefit from their many advantages over fiat currency.

    DASH’s unique block reward system reserves 10% of the block reward to support development of the DASH currency. Much of this is spent on the large number of full-time paid developers and a portion is also spent on promotional activities like conferences and marketing. This is an advantage that many newer currencies have copied from DASH.
For more information visit Dash.org.
 

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That is great... I still can't understand how some people fall for some of those, but this should help.

The only factual mistake I've found is in #4. You say that "multiple masternodes are used in each round", but that is not exact. It is only one masternode per round. I guess the confusion comes from the fact that each denomination has its own rounds. So yes, with 8 rounds for your funds you probably interact with at least 24 masternodes (if you have broken your funds in 3 different denominations, if you only have one denomination it will be 8 masternodes), but that doesn't mean that there is more than one masternode per round... I'm not sure how to explain it without having to explain denominations (which I believe is beyond the scope of this) and still being accurate.
 
So possibly instead of "Masternodes are selected randomly in a PrivateSend transaction and multiple mixing rounds are used with multiple Masternodes used in each round." something like "PrivateSend uses a quorum of randomly selected Masternodes to mix coins. Mixing with multiple rounds utilizes even more Masternodes to achieve a thoroughly obfuscated transaction."
 
fernando said:
That is great... I still can't understand how some people fall for some of those, but this should help.

The only factual mistake I've found is in #4. You say that "multiple masternodes are used in each round", but that is not exact. It is only one masternode per round. I guess the confusion comes from the fact that each denomination has its own rounds. So yes, with 8 rounds for your funds you probably interact with at least 24 masternodes (if you have broken your funds in 3 different denominations, if you only have one denomination it will be 8 masternodes), but that doesn't mean that there is more than one masternode per round... I'm not sure how to explain it without having to explain denominations (which I believe is beyond the scope of this) and still being accurate.
Click to expand...
@tungfa and @DashDude .. pls can this be reposted somewhere with the corrections added. I would like to be able to post this on a website I am currently building to help promote Dash. - Thanks.
 
Great idea! Here's feedback on the text from editorial and copywriting standpoints.

I'm wondering: Can we create an infographic that is so compelling that it almost spreads itself?

Start by asking: Who is the intended audience?
  1. The people spreading the misconceptions
  2. The people trying to communicate the clarifications
  3. People who hear the misconceptions, but may not be sure what to believe
Write the text to speak directly to the audience you want to benefit the most. Right now, it sounds like you're writing the graphic to benefit audience #2. That group is already highly educated and self-motivated, and it's going to be relatively small. Group #1 is small and their minds may never be changed by facts. Group #3 is probably the most promising for generating interest in the graphic and in Dash.

Write a headline that draws people in, that emotionally engages them, and makes them want to read and share the graphic. Come up with 25 headlines and pick the best one. Start by including the number 10. Here's an example:
  • 10 Stupid Things People Say About Dash (and How to Respond)
Delete the first two sentences. Avoid stating obvious information. It's common knowledge that the internet is full of good and bad information. Make the best use of space by including only what's new, important, and interesting.

Eliminate repetition. You want to convey as much information as possible in as few words as possible. For example, in point #3, the word "DASH" is repeated seven times. How many times does it appear in the graphic as a whole? Delete every instance that isn't absolutely necessary to understanding. (Readers already know the infographic is about Dash.) I would also eliminate the use of all caps. (Perhaps use all caps only in the intro and footer, if it's important to branding.) You don't want to "yell" or hit new users over the head.

Make it educational and entertaining first, self-promotional last. Self-promotion turns people off. If you present it in a way that helps people, they'll be happy to spread it and help their friends, too.

Those are my initial thoughts. I got out of bed when I saw the infographic at 4:30 a.m. to share them. :-D

Cheryl
 
Tallyho said:
So possibly instead of "Masternodes are selected randomly in a PrivateSend transaction and multiple mixing rounds are used with multiple Masternodes used in each round." something like "PrivateSend uses a quorum of randomly selected Masternodes to mix coins. Mixing with multiple rounds utilizes even more Masternodes to achieve a thoroughly obfuscated transaction."
Click to expand...
This is also incorrect though. Quorums are a part of InstantSend and masternode payments, but they are not used in mixing in any way - each mixing session/round is "3 clients + 1 random masternode".
 
Thanks for the good suggestions everyone.

@UdjinM6 - Can I say this? "Masternodes are selected randomly in a PrivateSend transaction and multiple mixing rounds are used. Even if an attacker controlled 25% of the Masternodes the odds of tracking a transaction through 8 rounds of mixing is less than 0.004%."

@cherapple - Some good points. Group 3 is absolutely the target.
  • Regarding the headline, "10 Stupid Things People Say About Dash (and How to Respond)" I'm not sure I like using the word stupid in "official" (whatever that means) coms, but still like your headline better than the one I had originally. I'm open to input on this for sure. This is actually the first suggestion I received on it.
  • Agree on removing the first two sentences and redundant mentions of DASH. Will have another go at it.
  • Regarding use of all caps on Dash - I tried to follow the branding guidelines on the wiki and thought it was proper to use all caps, but now I can't find mention of it. I might have mismembered what I read! Will take another look and correct if necessary.
 
DashDude said:
Thanks for the good suggestions everyone.

@UdjinM6 - Can I say this? "Masternodes are selected randomly in a PrivateSend transaction and multiple mixing rounds are used. Even if an attacker controlled 25% of the Masternodes the odds of tracking a transaction through 8 rounds of mixing is less than 0.004%."
...
Click to expand...
Or maybe smth like this:
"Masternodes are selected randomly in a PrivateSend mixing transaction and each coin is mixed on different masternodes multiple times before it can be spent via PrivateSend. Even if an attacker controlled 25% of the Masternodes the odds of tracking a transaction through 8 rounds of mixing is less than 0.004%."
because PrivateSend spending transaction doesn't use masternodes at all but you have to have enough rounds to be able to spend it securely. Also don't quote me on exact odds, I suppose you copied them from some reliable source :)
 
DashDude said:
Here is a revised version of the infographic including many of the suggestions above.

I'm warming up to @cherapple 's headline. "Stupid" is a bit informal, but so is the infographic format. Still open to suggestions.

Here is version 2.
Click to expand...

Thank you for your efforts! Very much appreciated!

1. I'd rephrase it the following way:

There are 4,500 Masternodes all over the world making it in relation to size more decentralized than other coins. Bitcoin has over 8,800 full nodes but is 40 times larger than Dash in marketcap. At the same node to marketcap ratio it would require Bitcoin to operate over 150,000 full nodes to achieve the similar decentralization. [Drop the incentivized part, not part of the question]

2. Make the "if" bold, not caps. Also clarify that the price definitely wouldn't stay the same due to simple economics. Also make clear that there isn't even enough Dash in existence to buy enough for an attack.

3. Alright by me. Maybe add that there's nothing artificial about people holding a currency.

4. Alright by me. If you add graphics later on, maybe add an excerpt from my table. It's at the bottom of this page: https://dashpay.atlassian.net/wiki/display/DOC/PrivateSend

5. Add that mandatory privacy can also be poor as shown by Shadowcash (entire blockchain exposed) and Monero (monerolink.com). The implementation is what matters, not whether it's obligatory.

6. Add that cheap coins were dumped on exchanges as proven by the low Dash price in February through March/April 2014. If any huge holder withheld all of the coins the price must've gone up massively, right when Dash was first traded. It didn't which proves that the fastmine coins were sold very quickly, which provided a lot of liquidity for early adopters getting in cheap.

7. This is fundamentally flawed. Addresses, unfortunately, have almost no significance when it comes to decentralization. Dash is spread across many addresses with 1k Dash in them, but that doesn't mean each address is held by a different person. You have to look at wallets. I recommend making a new table with data from the comments in this Reddit discussion: https://np.reddit.com/r/dashpay/comments/6fal32/dash_has_better_wealth_distribution_than_almost/

8. Spot on.

9. I'm not sure the criticism has ever been verbalized that way? Anyway, here's why Dash is not a Ponzi: https://np.reddit.com/r/dashpay/com...rning_how_is_dash_not_a_ponzi_scheme/di1f71c/

10. At this point its crucial to communicate that Dash is one of the largest innovators in the crypto space. Dash has invented almost every single one of its features, has been peer reviewed and every shitcoin under the sun copied at least one feature from Dash.

More misconceptions refuted can be found here in the second to last section: https://www.reddit.com/r/dashpay/comments/6kbrua/link_collection_all_recent_core_team/

Mark Mason is planning to do a video based on your Top 10 List btw
 
Thanks for the review @Macrochip ! I reworked this some more as follows.

1. Simplified the wording here, but left the bit about Masternode incentives as I think it's an important benefit for Dash.
2. The Dash font (Montserrat Light) doesn't have bold or italic, at least not on the program I'm using for this graphic. Existing Dash Masternodes can be taken over given a high enough price.
4. I did use a version of that table I found somewhere - thanks for the reference. Don't have room for the table right now.
5. I did not want to directly mention any competing coins here.
6. Added some changes here about the 2014 price.
7. Yes, this is flawed, but is widely used in the crypto space nonetheless due to a lack of better measures. I tried to use the wallet analysis, but it did not work for bitcion which is the main target here so just left this one alone.
9. The arguments you reference more precisely defend against an actual Ponzi claim. However, in my experience most crypto community people that level the Ponzi accusation are just using this as a cheap "ad hominem" attack due to a lack of any real argument. Therefore, I prefer to just talk about the unique Masternode incentives than debunking a Ponzi argument that doesn't really exist anyway.
10. Added some of your language here.
 
OK folks.

Here is the latest v3 version. I'd like to stick a fork in this and call it the "final version." Probably won't edit it further unless there are some critical problems. Thanks for everyone's helpful thoughts and suggestions!
 
DashDude said:
DASH isn’t decentralized because of its Masternodes. – There are over 4,500 DASH Masternodes which makes it relatively more decentralized than other coins. Bitcoin has over 8,800 full nodes, but is a much larger currency. Bitcoin would have to have over 150,000 full nodes to have the same node to market cap ratio as DASH. DASH should always have a higher node to market cap ratio than Bitcoin because DASH nodes are financially incentivized to serve the network and Bitcoin nodes are not.
Click to expand...

Bitcoin stats gathering fanboys forget to mention that the overwhelming majority of so-called "full nodes," which provide no service to the network whatsoever compared with MasterNodes, are offline at any given moment.

I've never seen more than 32% of BTC's useless "full nodes" online at any given time. There's no monetary incentive, so why? They don't really do anything by being there, so no technical incentive, either...

I'd suggest mentioning that Bitclones' "full nodes" are rarely all online, because there's no incentive to keep them online, nor do they actually do anything useful when they are...
 
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