ScioMind
Active member
Let me assure that in case someone takes the Dash source code and creates a new genesis block, and distributes it fairly to the people of venezuela, this coin will have value. Because among the people of venezuela you can find also the merchants, and as long as the merchants accept a coin, this coin gets value. Dash has not great value for this very reason, because the merchants, and especially the merchants of venezuella, do not accept it.
There are a few coins out there with the stated purpose of serving this or that country already. Siberian Chervonets, a.k.a. SibCoin (SIB) come to mind, and this coin is particularly relevant here. SIB is a Dash clone which came out way before the much better known and better performing PIVX (also a Dash clone). SIB tried to differentiate itself in people's minds primarily by being a "meme" coin, that meme being the idea that "this is a coin for the Russian people." PIVX, on the other hand, didn't rely on some silly meme, and instead pushed the technology of Dash a bit further by adding the ZeroCoin protocol to Dash's already private transactions.
So...what has the result been?
Well, PIVX actually has made a bit of a "splash," although it typically trades at about 1/100 the price of Dash, and currently has a market capitalization ranking in the low 50's, compared to Dash which is typically in the top 10 (although has recently slipped to 11.)
SIB, on the other hand, is relatively unknown, is typically priced less than half of PIVX (less than 1/200 of Dash) and currently has a market capitalization ranking somewhere between 200-250.
Also, look at Bitcoin. It is the FIRST and also the most PRIMITIVE of all cryptocurrencies, and yet it remains (so far) the number one ranked both in terms of price and market cap. Being first, despite being the most primitive, has everything to do with its current dominance.
What about Dash? Well, it was the FIRST coin with INSTANT transactions - to my mind the single most important "holy grail" feature for a coin to be useful in real-world retail environments. In addition, it has private/anonymous transactions (making PIVX's adoption of ZeroCoin possibly superfluous, by the way) as well as VERY low transaction fees. Furthermore, the Dash development team is simply unparalleled in the cryptocurrency world, making Dash the most agile and responsive coin in the face of new technological challenges. (Remember how the Bitcoiners fought back and forth about implementing 2MB blocks, and eventually got nowhere except for forking into separate blockchains, whereas Dash implemented it after a simple Masternode vote. Big difference!)
Venezuelans are certainly free to create new cryptos if they want...but they will never match Dash in terms of performance or agility, especially if their coins main differentiation from Dash is that this is a "Venezuelan coin." Dash is ALREADY an INTERNATIONAL COIN, equally accessible to everyone, all over the world, including Venezuela.
One thing we do agree on is the fact that a currency, such as Dash (or any other) needs to be actually used in order to have value. Interestingly, Dash is coming into rather wide adoption in Brazil, also a South American country, which also happens to share a border with Venezuela. (https://www.btcethereum.com/blog/20...dash-now-usable-at-13000-locations-in-brazil/) Venezuela is next.
Last edited: