DeepBlue
Active member
Dash is currently 34th in Coinmarket Cap with inferior coins such as NEM, Lightcoin and Bitcoin Cash, BSV all above us. Why is that when Dash is clearly a superior coin? Let me first define what I mean by superior:
Dash has the following all of which make it superior to the other coins mentioned:
1. better more unique brand - Dash is not a knock off of Bitcoin branding and we're not playing second place to the Bitocoin like Lightcoin "silver"
2. faster transaction speeds than all the above coins. Dash is just a few seconds before it can be re spent unlike lightcoin and BCH that take minutes to confirm and then even longer before it can be re-spent.
3. resistant to 51% attacks unlike lightcoin and Bitcoin cash.
4. governance funding unlike Bitcoin Cash and Lightcoin
5. Dash chainlocks, instant send, privacy, DIF, legal ownership of Dash software and assets held by DCG
6. decentralized governance that avoid coin splits
7. dash is focused on payments.
8. funded projects that increase Dash development.
9. Dash masternode network offering second tier functionality such as Dash Evolution.
So, why is Dash falling down the charts and the others not? Have you ever wondered what is causing this ? My view is there are several factors for this fall as follows:
1. Dash communication has been confusing with mixed messages. It is not clearly understood what Dash is and what we have created in terms of innovations.
2. Dash has been de-listed from exchanges around the world as it has been labelled as an anonymous coin. Again, this is due to poor quality communication and understanding of what Dash is.
3. Repeated and continual delays on Evolution lost a lot of confidence in the Dash project. DCG not responding to valid questions on development in their funding requests in 2018. Repeated delays and poor communications from DCG. Ineffective marketing strategies. Focus given to markets that can't use cryptocurrency.
4. No overall leadership for sharing the vision of the Dash project as a whole. Evan Duffield disappearing from the project, for me at least this had a big impact on my confidence in the Dash project. Why would Evan just leave in the middle of Dash taking off?
5. The inability to consistently get Dash Values broadcast in our media messages.
No one factor is responsible however. It is a series of factors that cumulatively have their impact on eroding investor confidence in the Dash project. So what do we do ? What is the solution? I believe the solution is not just one solution but a series of solutions that must all be worked on.
1. Clear consistent communication of Dash's Values
First of all we must clearly agree upon Dash's core values and ensure that these core values are transmitted in every media message we have. I wrote about Dash's core values in the following post:
People buy into a product based on its values. If we don't verbalise these in every message people will not know what Dash is about.
If we take the example of BSV and their media messages. What are their core values? I am not saying I agree with all of these but I'm hoping to demonstrate that their core values are clearly articulated in all their media messages in a consistent way. Their core values are as follows:
1. Massive scalability
2. Maintaining the original protocol that is set in stone so that businesses can build on their blockchain with confidence.
3. Compliance with government and commercial laws in all countries to make BSV attractive for industries to work with. Working with businesses and governments not against them.
4. Protecting (and controlling) blockchain innovations through patenting.
5. Avoidance of using the BSV for crime.
2. We need to focus on articulating the benefits of our technology and NOT the features.
Let me be clear: People don't buy into features. People are not motivated by features. People don't give a hoot about features.
People buy into benefits that features give them.
I have noticed that inevitably whenever we have a media communication about Dash the message is focused on the features and not the benefits.
Case in point "Dash is becoming a cloud" is the new message in the Dash Evolution videos. A cloud is a feature so what is the benefit to our customers? A better message to focus exclusively on would be "Dash is making crypto payments simple for anyone to use" No more complicated crypto addresses. We will be giving you the ability to choose your own usernames and to store them, along with your friends username in your Dash Wallet.
Who gives two hoots about Dash becoming "A cloud"? That is simply wasting valuable airtime space. People don't care how its done. What they care about is what is in it for them. Imagine Apple saying "We will be giving you a 3Gig hrz processor with 32 Gig Ram in our next iPad" So what? Who cares? But when they show us what the new iPad can actually do like drawing and animations customers are blown away.
How do we identify a benefit from a feature?
The best way I've found to identify benefits from features is to ask the question "So What"? and to ask "So, what's in it for me"? If you can't answer that question then you're not communicating benefits you are communicating features and people don't give a hoot about features.
3. Consistency in branding and message
It is one thing to broadcast a message but it is another thing to consistently broadcast those messages. By consistency I mean in respect to time and in respect to the different departments of Dash. It needs to be fully co-ordinated so that the message remains the same throughout all departments.
Case in point: Dashnewsdesk is talking about "Dash becoming a cloud", Dana is talking about "release of version 16 of DASH. Fernando is talking geek language in Dash product upgrades which even I don't understand. https://blog.dash.org/dash-product-update-september-6th-2020-cdc935e911b
In time we have talked about Dash Evolution, Dash platform and Dash cloud. This is what I mean by non consistency in messages.
We need to agree on Dash's values and our message and ensure that all teams have consistent messages regarding Dash.
4. Communicating our messages in the right channels that have the most impact on crypto investors.
There are important sources of information that investors use to gauge the success of a project. So far Dash is appearing low down to non existent on these channels.
Case in point: one metric used by Venture capital firms is to determine the amount of coding activity on a project to determine how active that project is. A website that focuses on reporting coding activity for investors is Cryptomiso but where is Dash listed in coding activity on this site? Answer 88th! yes that's right Dash community. And according to the Graph by cryptomiso we have had no commits since February! Clearly this is not correct however who at DCG or Dashnewsroom is correcting this ? nobody.
Check this out for yourself and see where Dash is on the coding activity report https://www.cryptomiso.com
There are a whole host of websites used by investors to gauge the work being undertaken by a crypto project. We need to be correctly represented in all of them. Here is a list of important market research websites that Dash could have a substantial presence in and would significantly boost our profile with investors as a quality cryptocurrency.
LunarCrush: https://lunarcrush.com
Messari: https://messari.io
Glassnode: https://glassnode.com
Skew: https://skew.com
Santiment: https://santiment.net
CoinGecko: https://www.coingecko.com/en
CryptoPanic: https://cryptopanic.com
Coinmarketcal: https://coinmarketcal.com/en/
CryptoMiso: https://www.cryptomiso.com
Coin Dance: https://coin.dance/
There was an excellent review of the above investor research sites by coinbureau which I highly recommend you watch:
5. Education not marketing
In my opinion and in my own personal experience education is more valuable than marketing. What is the difference between marketing and Education? The difference is Education is customer focused and Marketing is "Us" focused.
Education is better than marketing for several reasons:
1. If you help people to understand our tech or the tech of crypto they will have trust with the person / organization that taught them.
2. If we educate people using DASH users will also feel more confident in using DASH over other cryptos.
3. Education has a long shelf life of years. Marketing is disposable short shelf life material. We need long shelf-life material.
4. Education positions us as a trusted authority in the subject thus gaining the trust of people that learn with us.
5. Free search engine positions. The role of search engines is to return the best possible search results that answer the searchers question. High quality educational material will find its way to the top of search engines. I can speak from first hand experience on this. I get all my customers from search engines. around 15 million people each year and without paying a dime in advertising. Year after year free customer referrals from the search engines. You have to know how to do it right though and it can take some time to learn the strategies to do this well.
6. Find problems in payment areas where there are millions of users. Payment problems that cannot be solved with normal fiat currency and then Dash aligns with businesses in those markets to provide a workable solution. In this way the technological solution that Dash provides becomes the most effecting marketing solution. This strategy has been used by many successful firms, including Google who provided search results for Yahoo. Eventually Google outgrew Yahoo... Note that google made sure that their brand was shown in the search results with Yahoo.
The same marketing strategy was used with IBM and Microsoft. Microsoft insisted that their brand was present in the IBM product and that the software be sold under license. That is what made Microsoft the powerhouse it is today.
Find large companies or application with millions of users. We then just need to make the sale once to the company with the network of users we need. We build a solution for that company and we get all the users. The main proviso is that we must retain our brand name DASH and that brand name must be present in all advertising for the solution we develop. Let us learn from the likes of the KuvaCash project where we had no branding presence. I had raised this point from the very beginning but few people listened.
We must retain our brand name with joint ventures.
Retaining our brand name is first class promotion of for DASH. We are building awareness through solving real world problem and having our brand name exposed to millions of users.
I will continue this message into a new post because the 15K word limit has been reached.
Dash has the following all of which make it superior to the other coins mentioned:
1. better more unique brand - Dash is not a knock off of Bitcoin branding and we're not playing second place to the Bitocoin like Lightcoin "silver"
2. faster transaction speeds than all the above coins. Dash is just a few seconds before it can be re spent unlike lightcoin and BCH that take minutes to confirm and then even longer before it can be re-spent.
3. resistant to 51% attacks unlike lightcoin and Bitcoin cash.
4. governance funding unlike Bitcoin Cash and Lightcoin
5. Dash chainlocks, instant send, privacy, DIF, legal ownership of Dash software and assets held by DCG
6. decentralized governance that avoid coin splits
7. dash is focused on payments.
8. funded projects that increase Dash development.
9. Dash masternode network offering second tier functionality such as Dash Evolution.
So, why is Dash falling down the charts and the others not? Have you ever wondered what is causing this ? My view is there are several factors for this fall as follows:
1. Dash communication has been confusing with mixed messages. It is not clearly understood what Dash is and what we have created in terms of innovations.
2. Dash has been de-listed from exchanges around the world as it has been labelled as an anonymous coin. Again, this is due to poor quality communication and understanding of what Dash is.
3. Repeated and continual delays on Evolution lost a lot of confidence in the Dash project. DCG not responding to valid questions on development in their funding requests in 2018. Repeated delays and poor communications from DCG. Ineffective marketing strategies. Focus given to markets that can't use cryptocurrency.
4. No overall leadership for sharing the vision of the Dash project as a whole. Evan Duffield disappearing from the project, for me at least this had a big impact on my confidence in the Dash project. Why would Evan just leave in the middle of Dash taking off?
5. The inability to consistently get Dash Values broadcast in our media messages.
No one factor is responsible however. It is a series of factors that cumulatively have their impact on eroding investor confidence in the Dash project. So what do we do ? What is the solution? I believe the solution is not just one solution but a series of solutions that must all be worked on.
1. Clear consistent communication of Dash's Values
First of all we must clearly agree upon Dash's core values and ensure that these core values are transmitted in every media message we have. I wrote about Dash's core values in the following post:
People buy into a product based on its values. If we don't verbalise these in every message people will not know what Dash is about.
If we take the example of BSV and their media messages. What are their core values? I am not saying I agree with all of these but I'm hoping to demonstrate that their core values are clearly articulated in all their media messages in a consistent way. Their core values are as follows:
1. Massive scalability
2. Maintaining the original protocol that is set in stone so that businesses can build on their blockchain with confidence.
3. Compliance with government and commercial laws in all countries to make BSV attractive for industries to work with. Working with businesses and governments not against them.
4. Protecting (and controlling) blockchain innovations through patenting.
5. Avoidance of using the BSV for crime.
2. We need to focus on articulating the benefits of our technology and NOT the features.
Let me be clear: People don't buy into features. People are not motivated by features. People don't give a hoot about features.
People buy into benefits that features give them.
I have noticed that inevitably whenever we have a media communication about Dash the message is focused on the features and not the benefits.
Case in point "Dash is becoming a cloud" is the new message in the Dash Evolution videos. A cloud is a feature so what is the benefit to our customers? A better message to focus exclusively on would be "Dash is making crypto payments simple for anyone to use" No more complicated crypto addresses. We will be giving you the ability to choose your own usernames and to store them, along with your friends username in your Dash Wallet.
Who gives two hoots about Dash becoming "A cloud"? That is simply wasting valuable airtime space. People don't care how its done. What they care about is what is in it for them. Imagine Apple saying "We will be giving you a 3Gig hrz processor with 32 Gig Ram in our next iPad" So what? Who cares? But when they show us what the new iPad can actually do like drawing and animations customers are blown away.
How do we identify a benefit from a feature?
The best way I've found to identify benefits from features is to ask the question "So What"? and to ask "So, what's in it for me"? If you can't answer that question then you're not communicating benefits you are communicating features and people don't give a hoot about features.
3. Consistency in branding and message
It is one thing to broadcast a message but it is another thing to consistently broadcast those messages. By consistency I mean in respect to time and in respect to the different departments of Dash. It needs to be fully co-ordinated so that the message remains the same throughout all departments.
Case in point: Dashnewsdesk is talking about "Dash becoming a cloud", Dana is talking about "release of version 16 of DASH. Fernando is talking geek language in Dash product upgrades which even I don't understand. https://blog.dash.org/dash-product-update-september-6th-2020-cdc935e911b
In time we have talked about Dash Evolution, Dash platform and Dash cloud. This is what I mean by non consistency in messages.
We need to agree on Dash's values and our message and ensure that all teams have consistent messages regarding Dash.
4. Communicating our messages in the right channels that have the most impact on crypto investors.
There are important sources of information that investors use to gauge the success of a project. So far Dash is appearing low down to non existent on these channels.
Case in point: one metric used by Venture capital firms is to determine the amount of coding activity on a project to determine how active that project is. A website that focuses on reporting coding activity for investors is Cryptomiso but where is Dash listed in coding activity on this site? Answer 88th! yes that's right Dash community. And according to the Graph by cryptomiso we have had no commits since February! Clearly this is not correct however who at DCG or Dashnewsroom is correcting this ? nobody.
Check this out for yourself and see where Dash is on the coding activity report https://www.cryptomiso.com
There are a whole host of websites used by investors to gauge the work being undertaken by a crypto project. We need to be correctly represented in all of them. Here is a list of important market research websites that Dash could have a substantial presence in and would significantly boost our profile with investors as a quality cryptocurrency.
LunarCrush: https://lunarcrush.com
Messari: https://messari.io
Glassnode: https://glassnode.com
Skew: https://skew.com
Santiment: https://santiment.net
CoinGecko: https://www.coingecko.com/en
CryptoPanic: https://cryptopanic.com
Coinmarketcal: https://coinmarketcal.com/en/
CryptoMiso: https://www.cryptomiso.com
Coin Dance: https://coin.dance/
There was an excellent review of the above investor research sites by coinbureau which I highly recommend you watch:
5. Education not marketing
In my opinion and in my own personal experience education is more valuable than marketing. What is the difference between marketing and Education? The difference is Education is customer focused and Marketing is "Us" focused.
Education is better than marketing for several reasons:
1. If you help people to understand our tech or the tech of crypto they will have trust with the person / organization that taught them.
2. If we educate people using DASH users will also feel more confident in using DASH over other cryptos.
3. Education has a long shelf life of years. Marketing is disposable short shelf life material. We need long shelf-life material.
4. Education positions us as a trusted authority in the subject thus gaining the trust of people that learn with us.
5. Free search engine positions. The role of search engines is to return the best possible search results that answer the searchers question. High quality educational material will find its way to the top of search engines. I can speak from first hand experience on this. I get all my customers from search engines. around 15 million people each year and without paying a dime in advertising. Year after year free customer referrals from the search engines. You have to know how to do it right though and it can take some time to learn the strategies to do this well.
6. Find problems in payment areas where there are millions of users. Payment problems that cannot be solved with normal fiat currency and then Dash aligns with businesses in those markets to provide a workable solution. In this way the technological solution that Dash provides becomes the most effecting marketing solution. This strategy has been used by many successful firms, including Google who provided search results for Yahoo. Eventually Google outgrew Yahoo... Note that google made sure that their brand was shown in the search results with Yahoo.
The same marketing strategy was used with IBM and Microsoft. Microsoft insisted that their brand was present in the IBM product and that the software be sold under license. That is what made Microsoft the powerhouse it is today.
Find large companies or application with millions of users. We then just need to make the sale once to the company with the network of users we need. We build a solution for that company and we get all the users. The main proviso is that we must retain our brand name DASH and that brand name must be present in all advertising for the solution we develop. Let us learn from the likes of the KuvaCash project where we had no branding presence. I had raised this point from the very beginning but few people listened.
We must retain our brand name with joint ventures.
Retaining our brand name is first class promotion of for DASH. We are building awareness through solving real world problem and having our brand name exposed to millions of users.
I will continue this message into a new post because the 15K word limit has been reached.
Last edited:
