Telegram ICO , is it game over for other cryptos ?

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Dashmaximalist said:
you are talking about current state of affairs , i am talking about a future where fiat currencies cease to exist, in such a scenario goods and services will be priced in a crypto. when this happens it's far more comfortable to have one coin for this purpose than have a ton of them
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Whether fiat currencies cease to exist or not, arbitrary pricing units are unlikely to ever cease to exist.

Cryptocurrencies are diverse because they prioritise different monetary and technological characteristics, not because people think they are going to be used as a global unit of account. If those technological and monetary priorities are there today they will still be there tomorrow whether fiat currencies exist or not.

Anyway, what your describing in all your posts is bitcoin - not Telegraph. If a "one to dominate all" crypto was to prevail then Bitcoin is the only real contender being that it's the least ambiguous for markets, most original, most secure and most widely recognised.

P.S. "Fiat" curency is no more than monetised credit. That is an essential component of an advanced financial system and isn't going to ever go away, even if there are mass sovereign defaults.
 
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toknormal said:
Whether fiat currencies cease to exist or not, arbitrary pricing units are unlikely to ever cease to exist.

And anyway, cryptocurrencies are diverse because they prioritise different monetary and technological characteristics, not because people think they are going to be used as a global unit of account. If those technological and monetary priorities are there today they will still be there tomorrow whether fiat currencies exist or not.

Anyway, what your describing in all your posts is bitcoin - not Telegraph. If a "one to dominate all" crypto was to prevail then Bitcoin is the only real contender being that it's the least ambiguous for markets, most secure and most widely recognised.
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Money by its definition needs to be an account of account, if crypto were to become Money, Goods needs to priced in it.

The reason why bitcoin might not be money is because we have very new powerful coins in the market and we haven't scratched the surface of full market
 
Dashmaximalist said:
Money by its definition needs to be an account of account
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What that requirement means it needs to be capable of functioning as a unit of account. That property follows from it being fungible. For example you couldn't use a gold nugget as a unit of account because it's different from every other gold nugget but you could use a gold weight as a unit of account, e.g. ounces.

But the "unit of account" property doesn't mean that money needs to be widely adopted as a unit of account - that would be ludicrous because almost every monetary asset other than debt securities is not co-incident with a national currency. Dash has a unit of account and so does every other cryptocurrency - that's what makes it spendable because it can be quantifiably expressed in any other unit of account. So Dash is "spendable" regardless of how Amazon chooses to price their goods.

Whatever the merits of relative blockchains, there's one thing you can be sure of: if a global cryptocurrency comes to dominate as a store of value it will definitely NOT be widely used as a pricing unit for retail. That's because if it's any good at storing value it will be deflationary in relation to a growing economy and a distinct unit of account will be sought that can measure that economy's value more stably. (That is one of the few useful things that central banks do right now).
 
Dashmaximalist said:
they are all external people if i am not wrong, and i don't understand why we don't have an in house marketing team accompanied with them which is related to my most important point of having a strategy/ road map for marketing.

I feel we are not taking marketing as seriously/professionally as we take development
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Hang on a second....so you want a world class marketing team, but you want them to be in-house....? The people we hired are a world class branding/marketing team. They were expensive. They specialize in FinTech. How would them being internal or in-house be better?

And if you believe that Amanda B. Johnson is "external people" then you have seriously misunderstood the Dash Ecosystem.
 
Telegram ICO will be a game changer, it's reported to have the potential to be the biggest ever.If successful we could see many big companies fellow suit eg Facebook.Maybe as a community we should get used to seeing Dash in lower placing in terms of marketcap, though I believe it will take some time for such organisations to get established in the crypto space, believe Dash will be widely adopted by then.
 
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i am not sure if this will be the "game changer" everybody is talking about
each and every crypto had their Telegram Bots (dash or other Alt payments over Telegram) and as far as i know 99% of them all died !
ICO's with that much hype already turn me off
the telegram guy is totally solid, there is no doubt , but that does not mean that 'his' crypto will change the world as everybody is talking about here
(Mobiles still have a ton of security issues and such )
lets see ;)
 
Dashmaximalist said:
we should influence the price with constant and exciting announcements
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I think this is known as "talking [our] book"

It's not hard to find the contingent of bloviators that talk their book these days, cryptosphere or otherwise. These jokers are everywhere and some of them have the mainstream microphone.

I sincerely hope DASH is aiming at a rock solid software implementation that will speak for itself and our patience will be rewarded with the best general purpose coin. If that becomes reality, everyone will be talking DASH's book.
 
solarguy said:
Hang on a second....so you want a world class marketing team, but you want them to be in-house....? The people we hired are a world class branding/marketing team. They were expensive. They specialize in FinTech. How would them being internal or in-house be better?

And if you believe that Amanda B. Johnson is "external people" then you have seriously misunderstood the Dash Ecosystem.
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i am not implying amanda to be external ( but she is only 1 -2 people team ), having said that , yes i do want a world marketing team to be in house , that's how world class companies run, do you think Amazon would outsource their marketing 100% ? absolutely no.

Marketing is the lifeblood thats runs businesses and outsourcing it completely is foolish, Again would you consider outsourcing majority of development , i am guessing no.

Now is time to correct the past mistakes , hire a world class marketing team Asap , let them come up with a proper strategy/ marketing road map.
 
tungfa said:
i am not sure if this will be the "game changer" everybody is talking about
each and every crypto had their Telegram Bots (dash or other Alt payments over Telegram) and as far as i know 99% of them all died !
ICO's with that much hype already turn me off
the telegram guy is totally solid, there is no doubt , but that does not mean that 'his' crypto will change the world as everybody is talking about here
(Mobiles still have a ton of security issues and such )
lets see ;)
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i agree with parts of what you said , but there is a lot of difference between a Dash Telegram bot and a native telegram bot, which would enjoy first class status within the ecosystem.
just the fact that they would start with an airdrop to 500 million people would give it enormous value.

The interesting thing about cryptos is its absolute competition and we can all copy good features from each other, telegram could as well copy good features from dash , ethereum , bitcoin etc, we are quickly coming to a point , where marketing and user reach become increasingly more important.
 
Ashley Rikhotso said:
Telegram ICO will be a game changer, it's reported to have the potential to be the biggest ever.If successful we could see many big companies fellow suit eg Facebook.Maybe as a community we should get used to seeing Dash in lower placing in terms of marketcap, though I believe it will take some time for such organisations to get established in the crypto space, believe Dash will be widely adopted by then.
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yes , if facebook rolls out its coin , it will instantly have the biggest market cap , there not even a question about it.
 
toknormal said:
What that requirement means it needs to be capable of functioning as a unit of account. That property follows from it being fungible. For example you couldn't use a gold nugget as a unit of account because it's different from every other gold nugget but you could use a gold weight as a unit of account, e.g. ounces.

But the "unit of account" property doesn't mean that money needs to be widely adopted as a unit of account - that would be ludicrous because almost every monetary asset other than debt securities is not co-incident with a national currency. Dash has a unit of account and so does every other cryptocurrency - that's what makes it spendable because it can be quantifiably expressed in any other unit of account. So Dash is "spendable" regardless of how Amazon chooses to price their goods.

Whatever the merits of relative blockchains, there's one thing you can be sure of: if a global cryptocurrency comes to dominate as a store of value it will definitely NOT be widely used as a pricing unit for retail. That's because if it's any good at storing value it will be deflationary in relation to a growing economy and a distinct unit of account will be sought that can measure that economy's value more stably. (That is one of the few useful things that central banks do right now).
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sorry i got confused between unit of account and goods being priced in it.
 
Dashmaximalist said:
yes , if facebook rolls out its coin , it will instantly have the biggest market cap , there not even a question about it.
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Hogwash. Just because they have a big name and a user base, they can't just swoop in and make a functional and valuable cryptocurrency. It's not that easy. A big bank consortium hired a bunch of crypto devs and tried to roll their own crypto. Tens of millions of dollars invested. How big is their user base? At least as big as facebook. How did it turn out? A complete disaster. They disbanded the working group.

If you have that little faith in Dash as a competitive product in the crypto ecosystem, perhaps you should find a safer and more conventional investment. This whole fear, uncertainty and doubt thing is getting old. When Facebook actually produces a functional crypto that's listed on CoinMarketCap, then we can have a conversation about how much of a competitor they are. Until then, I have no interest in speculating about how Facebook or Telegram are going to put us out of business.

Good day sir,
 
Ashley Rikhotso said:
Telegram ICO will be a game changer, it's reported to have the potential to be the biggest ever.If successful we could see many big companies fellow suit eg Facebook.Maybe as a community we should get used to seeing Dash in lower placing in terms of marketcap, though I believe it will take some time for such organisations to get established in the crypto space.
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solarguy said:
Hogwash. Just because they have a big name and a user base, they can't just swoop in and make a functional and valuable cryptocurrency. It's not that easy. A big bank consortium hired a bunch of crypto devs and tried to roll their own crypto. Tens of millions of dollars invested. How big is their user base? At least as big as facebook. How did it turn out? A complete disaster. They disbanded the working group.

If you have that little faith in Dash as a competitive product in the crypto ecosystem, perhaps you should find a safer and more conventional investment. This whole fear, uncertainty and doubt thing is getting old. When Facebook actually produces a functional crypto that's listed on CoinMarketCap, then we can have a conversation about how much of a competitor they are. Until then, I have no interest in speculating about how Facebook or Telegram are going to put us out of business.

Good day sir,
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All of us in the forum, believe in Dash that's the reason we here in the first place, so doubt anybody in this thread is doubting Dash. The example you gave regarding the banks, it's pretty clear such attempts will fail given that cryptos were created to move away from monetary centralization so really doubt anybody will be supporting a fedcoin anytime soon. Though as a community we must acknowledge that the crypto space is changing and big plays like Facebook or Telegram will influence the space and as a community we should adapt to that change.
 
Ashley Rikhotso said:
All of us in the forum, believe in Dash that's the reason we here in the first place, so doubt anybody in this thread is doubting Dash. The example you gave regarding the banks, it's pretty clear such attempts will fail given that cryptos were created to move away from monetary centralization so really doubt anybody will be supporting a fedcoin anytime soon. Though as a community we must acknowledge that the crypto space is changing and big plays like Facebook or Telegram will influence the space and as a community we should adapt to that change.
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New and significant players may enter the crypto economy. Sure, I don't doubt that for a second. But, "Telegram ICO, Is it game over for other cryptos?" That's a bit doom and gloom don't you think? Anyone seriously asking that question would be crazy to have any significant investment in Dash.
 
Furthermore, my gut tells me permissionless mining is so fundamental to the original Bitcoin design that Telegram, Ripple, Facebook et al face a chicken/egg problem. When addressing that problem they will/have chosen permissioned arrangements.

At that point, aren't they just issuing fancy securities and running fancy (but private) databases? Wouldn't "Facebookbucks" sort of ruffle the feathers of Facebook shareholders by diluting them?

The permissionless nature of the DASH network is fundamental to the inversion, whereby the incumbents are put on the same shelf as the US postal service.
 
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Yes
solarguy said:
New and significant players may enter the crypto economy. Sure, I don't doubt that for a second. But, "Telegram ICO, Is it game over for other cryptos?" That's a bit doom and gloom don't you think? Anyone seriously asking that question would be crazy to have any significant investment in Dash.
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Definitely believe Dash will still be alive and kickin regardless of what occurs with Telegram ICO. Just have to wait and see in terms of the impact such ICOs will have on the crypto space.
 
slamdunk said:
Furthermore, my gut tells me permissionless mining is so fundamental to the original Bitcoin design that Telegram, Ripple, Facebook et al face a chicken/egg problem. When addressing that problem they will/have chosen permissioned arrangements.

At that point, aren't they just issuing fancy securities and running fancy (but private) databases? Wouldn't "Facebookbucks" sort of ruffle the feathers of Facebook shareholders by diluting them?

The permissionless nature of the DASH network is fundamental to the inversion, whereby the incumbents are put on the same shelf as the US postal service.
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you are touching on the most important point of the discussion , facebook might not be allowed to roll out a permission less ledger due to its US base , however telegram might roll out a completely decentralised permission less coin as they are rolling ICO from switzerland / dubai, so lets wait for more updates from them
 
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