Folks - Please be careful what you wish for in the Bitcoin wars

[toknormal]

Hi

I've posted before about my views regarding Dash's dependency on Bitcoin. I've also said that I admire the rivalry and the passion in the ideals of Dash and its community to improve on Bitcoin's flaws and to deliver its original ideals in a true practical implementation where bitcoin was not able to.

My view is that this is achievable as long as things are kept in balance and respect is maintained for the mutual dependency as well as the mutual rivarly. Bitcoin and Dash have far more in common than they have in distinction and - in fact - Dash's base source code IS bitcoin so it inherits many of its properties that Dash benefits from. That was Evan's original ideal in which he made a truly great call.

However, the hawks are starting to circle. Ether, Tezos, Token mania..what is at stake here ? In my opinion no less than the following:

• the integrity of true digital monetary stocks that last versus incidental technological stocks that are transient (Bitcoin gives way to Ether, Ether gives way to Tezos, Tezos gives way to...)

• faith in a digital form of store of value rather than a physical one

• the proof of work concept where each token has a cost of production associated with it that echoes the regulated equity model where your shareholdings are backed by the capital you invest (unlike the current token-market mania)

There are only a few monetary assets left in the top 20 marketcaps. That leaves those that remain in a very powerful position, including Dash. Think of it this way, the monetary assets are gold, silver and diamonds. The rest are corporate stocks - IBM, Microsoft, Shell, British Airways. One can make you more money than the other at various times but it's important to know which one you are and to know who your friends are in times of crisis.

With that I leave you my opinion on the current bitcoin war and that it is not in Dash's interest for it conclude any other way than productively.

 

[TroyDASH]

Hi
My view is that this is achievable as long as things are kept in balance and respect is maintained for the mutual dependency as well as the mutual rivalry.

Couldn't agree more. Keep it classy Dash Nation!

With that I leave you my opinion on the current bitcoin war and that it is not in Dash's interest for it conclude any other way than productively.

"Concluding productively" is something that could have many, many potential scenarios. I do not think that all of those scenarios necessarily include Bitcoin being successful over the long term. Anyway, regardless of what happens to Bitcoin, what we can do is not be hostile to bitcoiners, and not be assholes. That goes a long way towards everyone's satisfaction.

 

[UdjinM6]

 

[slamdunk]

I think the inevitable bitcoin fork is imminent, and what I have been wondering is, what does that mean for DASH? Will DASH be presented with a decision here? As in, which chain's code should DASH follow?

Or, am I missing something? I have to imagine this question has been asked elsewhere, but I haven't been able to find anything definitive.

 

[djcrypto]

I think the inevitable bitcoin fork is imminent, and what I have been wondering is, what does that mean for DASH? Will DASH be presented with a decision here? As in, which chain's code should DASH follow?

Or, am I missing something? I have to imagine this question has been asked elsewhere, but I haven't been able to find anything definitive.

You are missing the fact that DASH has its own blockchain and doesn't rely on bitcoin for its functionality.

What the OP is inferring is that confidence in crypto "in general" will be deflated if bitcoin Core quits the project due to corporate takeover with Segwit2x.

Users will then be presented with an option. Which blockchain to migrate to? We must position DASH to be a viable alternative, which it is.

 

[slamdunk]

You are missing the fact that DASH has its own blockchain and doesn't rely on bitcoin for its functionality.

But, doesn't DASH Core 0.12.1.5 sit on top of some version of Bitcoin Core (possibly 0.13.2)? Maybe DASH is agnostic to Bitcoin's fork in the short term and can defer which code to implement later, when the dust settles?

The thing that has escaped me is, why is DASH down in Bitcoin terms? If Bitcoin is uncertain, then the market seems to think DASH is MORE uncertain. It's almost as if, DASH is guilty by association and people want to get out of it, in doing so, they're "laying over" in Bitcoin on their trip back to fiat. But, they're leaving some in Bitcoin on the way out? I can't make sense of it.

 

[jimbursch]

Question 1: Dash does not "sit on top" of a version of Bitcoin Core. When Evan forked Bitcoin, he created a whole new software project. Any later developments in Bitcoin Core that we want to incorporate into Dash have to be written for Dash and added to Dash Core. Dash has its own solutions to the problems currently facing Bitcoin.

why is DASH down in Bitcoin terms?

That's a good question. My theory is that the market does not currently differentiate Dash from BTC. Also I suspect it has something to do with the volume of Dash/BTC trading vs. the volume of Dash/USD trading -- the former being much greater than the later. It seems to me there is an arbitrage opportunity here that is not being addressed, at least in the near term.

 

[TroyDASH]

But, doesn't DASH Core 0.12.1.5 sit on top of some version of Bitcoin Core (possibly 0.13.2)? Maybe DASH is agnostic to Bitcoin's fork in the short term and can defer which code to implement later, when the dust settles?

The thing that has escaped me is, why is DASH down in Bitcoin terms? If Bitcoin is uncertain, then the market seems to think DASH is MORE uncertain. It's almost as if, DASH is guilty by association and people want to get out of it, in doing so, they're "laying over" in Bitcoin on their trip back to fiat. But, they're leaving some in Bitcoin on the way out? I can't make sense of it.

I think all altcoins got hit by the ICO bubble fear. Even though not all altcoins are ICO tokens.

 

[TanteStefana]

I KNOW Toknormal is absolutely correct, mature, and wise. I'm not so wise. I really don't like most of the people behind Bitcoin, I think they're immature and stubborn. Many of them have dragged Dash through the mud, in a position of authority. So even though I KNOW Toknormal is correct, I KNOW I should not think this way, I personally wish (oh oh) that they disappeared. Sorry, their haughty drama and, in my opinion, deals with the devil repulse me.

RE: Dash being a fork of Bitcoin. Actually at first it was a fork of litecoin as were virtually all projects. Not sure why, but maybe Mr. Lee (another man on my sh*t list even so he's a cute boy) cleaned up the code and made it easier to follow? Anyway, then the Dash Core team made a huge effort to update Dash to Bitcoin 12. There were a lot of improvements to Bitcoin, that Dash wanted to implement. I don't know what is in Bitcoin 13 unless it's the Segwit, etc... drama? I'm quite sure Dash Core does not want to follow that direction (for good reasons).

So currently, Dash is indeed a fork from Bitcoin via updates now. But now we will only implement BIP (Bitcoin Improvement Protocols) if there is an improvement that Dash desires. There probably are some new ones in the upcoming version of Dash. Dash is also now implementing it's own improvement protocols called, of course DIPs.

And why we follow Bitcoin's trends (it seems closer than any other coin)? One reason is that we are joined at the hip. Until more exchanges, and especially Coinbase, accept Dash, we're completely dependent on them. In in that sense, we deserve to be at Bitcoin's price whims. Really, we need Coinbase and Gdax to accept Dash, but they have stated they won't. As I understand it, Charlie Lee, who worked for them until recently and still has close ties, hates Dash, and has campaigned against Dash. This creates a very bad situation for Dash. Not an impossible one, of course, but difficult none the less. Coinbase is the biggest and most trusted exchange to fiat, and without such a good fiat outlet, Dash is handicapped.