Pre-proposal: Dash: Increase scarcity to increase value.

[forro]

Dash is a great crypto. It's proof of work using miners and proof of service using masternodes. It's decentralized, fast, low fees, has privacy using coinjoin, and a DAO governance model where masternodes vote to fund developers, marketers, and more. It also has a side chain called Evolution/Platform, where usernames, tokens, NFTs, and smart contracts are and will be developed.

Unfortunately even with all of that, it simply cannot hold it's value, and as a result, people don't hold it, and it has fallen down the ranks from the top 10 to now around 160. The only real holders left are the masternode owners.

This must change. More new features will not change the fact that the tokenomics are bad. We must increase scarcity to increase the value, so that people are willing to hold and save in Dash. Dash truly can serve the world if we fix the tokenomics.

This proposal will return the treasury from the current 20% of all mined dash each month back to it's original 10%, and distribute the other 10% to the masternodes. As a result, the return on investment for masternodes will increase, making masternodes a more attractive investment. More dash will be locked up in masternodes, increasing scarcity, and the price of dash will stop falling and rise.

Soon, the reduction in the treasury will be more than compensated for by the rise in fiat value.

Join me and support this common sense proposal to stop the neverending slide of dash's value, and help to bring it back to the top 10, where it belongs, as a veteran dino coin with extremely solid fundamentals, to the benefit of all people.

I will post the proposal at the beginning of the next cycle, see it on dashcentral dot org.

To Sam, Joel, and the rest of the treasury recipients: You know what I say is true. It seems you already hold masternodes, so please stop being greedy and support this proposal so Dash can rise in the ranks. This is a time for openness, honesty, and common sense. Support it, voice your support, and let's turn the page on this current chapter of greedy, selfish, bad tokenomics. How much is enough for you?

Edit:
Shadowbanned on reddit again. Love the censorship of the few left in this now corrupt little community.

 

[GrandMasterDash]

I like your determination.

I stopped using reddit a long time ago. I just had a quick look at the dashpay reddit page and it's still 46K subs, pretty much the same as it was when I last saw it many months ago. Must be that "dash growth" thing Joel was talking about. Frankly, whether it's community building or marketing, non of the old guard are going away, ever. Your best bet would be building new community and marketing platforms and never give them an inch when it comes to input and moderation.

Regarding this proposal, people will not be fooled to think scarcity is the only thing they need to increase fiat value. For that, first they would have to be convinced that dash itself has value and the potential of a comeback.

The more important thing is changing dash's governance that it a) actually promotes positive energy while reflecting negative energy, and b) dis-incentivizes all governance voting i.e. it needs to be a truely results driven model. And the cherry on top would be to remove ALL voting rights from masternode / platform owners; a tiny group daydreaming of global dominance.. sad but true and barely the evidence of any experts within.

I would be tempted to vote for your proposal simply because it de-funds DCG - well, returns it back to where it started. I have one suggestion for modification; that the 10% given to MNOs is conditional on their voting power e.g. at the end of every cycle, MNOs exercising their voting rights will not qualify to receive a share from the 10% reward. In other words, they must decide which is more important to them, voting or greed but not both. This will likely be rejected at first and the excuse will be how governance is coded, but now dash Platform is live, there is no excuse moving governance to it.

What do you think?

 

[vazaki3]

This proposal will return the treasury from the current 20% of all mined dash each month back to it's original 10%, and distribute the other 10% to the masternodes.

And why 10% and not 12% or 8% ?
What makes you believe that 10% is the correct number to use?
Do you have a proof that 10% is the optimum?

You do not, so yet another proposal where numbers should be voted.

Vote the numbers, stupid!

 

[forro]

I have one suggestion for modification; that the 10% given to MNOs is conditional on their voting power e.g. at the end of every cycle, MNOs exercising their voting rights will not qualify to receive a share from the 10% reward.

1. How would you enforce that given that MNOs have the right to hold MNs anonymously?

2. Further, as much as I don't like the current situation, I counter that if a PO has shown faith in Dash and invested in a masternode, and can also convince the MNOs to vote for them, for better or worse they deserve to receive the benefit on both ends. I don't like it, but I find that to be fair.

3. Continuing in this direction, what if the 10% was split, with 5% going to all masternodes and 5% to voters? Scarcity and value will still increase, as the 5% increase to masternodes will lead to more masternodes locking up more dash. and voters are rewarded for taking the time to vote, without necessarily incentivizing 'no' votes. In this case, all benefits are gained: all MNOs benefit, all holders benefit, and all voters benefit.

 

[GrandMasterDash]

@forro masternodes are not anonymous, there is a list of IP addresses for each masternode and a key for voting. The voting key could be used to request payment from a reward pool every cycle and refuse if that voting key was used on proposals. Being governance will move to Platform, that would be a good time to do it.

The problems with rewards for holding collateral are as follows:

1. To game the system you simply need some money and, it seems, you don't need a lot of it to put super majority voting power into a few hands. Many years ago, there was this idea that the more dash state actors bought, the price of dash is pushed up. I think we can safely say that has been proved untrue. You only need to look at BTC and ETH prices to see this.

2. Further evidence came when the collateral requirements for Platform was decided; Sam had determined that 10K dash was the sweet spot but MNOs voted on 4K dash largely based on the efforts of mnowatch. Also, Sam had dismissed all other solutions.

3. Dash's governance over the treasury has never involved PoW. Over the years, DCG has been the driving force of their dashd product - it is clearly a product and not a protocol as there are no viable and fully independent alternatives to the dashd daemon that DCG publishes. This means, the dashd daemon has evolved and emanated exclusively from DCG. Consider this; no viable alternative for 10+ years.

4. DCGs influence is such that they effectively bought votes when they sought to expand the treasury from 10% to 20%, for which they became the largest beneficiary.

AFAIK there is only one possible solution to this and that is to hand over all voting to a second PoW algo. Let miners decide, a fair lottery that gives options to everyone and not just to a few individuals wet dreaming over world domination. MNOs can still use their collateral for predictable returns and that seems more fair to me.

 

[forro]

I invite you to develop and refine your solution in detail and present it here and elsewhere. In the meantime, I will continue to work within our current paradigm, intending to better align incentives to hold and participate, to reduce supply, increase demand, increase accountability, and improve results, perhaps tilting at windmills.

At this time I think I will proceed with the 10% treasury, 5% masternode, 5% voter solution.

 

[xkcd]

Edit:
Shadowbanned on reddit again. Love the censorship of the few left in this now corrupt little community.

This stupid cunt first posted to r/cryptocurrency where the post was immediately deleted, they have a strict 'no dash' policy there. He then posted to the r/dashpay sub where reddit itself deleted the post! No moderator nor the automod on r/dashpay deleted shit. Forro is facing such issues because he has the profile of a spammer because of the way he posts and TBH, this post is actually spam. It is a nonsense idea, cycled garbage from his previous failed attempts and shows a clear lack of understanding how the market works and zero research on his part.

but now dash Platform is live, there is no excuse moving governance to it.

Correct. We are moving the governance system to Dash Platform and dash.vote will be the replacement for dashcentral. Exciting things coming to Dash this year, stay tuned !