The problem with the price

Should we have a measure to stay in the range of $1 to $10

  • Total voters
    17
Beru

Beru

Member
One of the problem we have for mass adoption is the price of the inividual dash. It was one of the reason I didnt go all in 2015. Now in retrospect, its a non-issue, but for somebody new to this, the number of unity you got from your bucks is important. If we want to be the digital cash for the masses maybe we should think to move the decimal of the unity to stay in the range of $1 to $10. We already have to do this to the fees on a regular basis.

I dont want to push this too much, but I'm curious to have opinions on the subject. I can see it as a way to differentiate us from bitcoin (digital gold). Is this a technically feasible feature we can implement? Maybe its totally outside of whats possible from a economic or technical perspective. Please give your feedback. If there is a majority of more than 75% who vote yes from 20 votes or more, I will make a proposal of 5 dash to reimburse the fees.
 
We have had this discussion and while a lot of people think that this might be a good idea. Overall it's to much effort for to little gain. At least that's my understanding.
 
Hi Beru, you got a really nice point on this post.

Here in Caracas, we participated as merchants with another several entrepeneurs in a "Dash City" where people of Dash Caracas sucessfully created an ecosystem where new people in crypto could buy products and services paying with Dash (and Duff - decimals of Dash). So the activity consisted that the merchants were selling their stuffs to people only accepting Dash, but one main problem we saw is that both merchants and consumers were confused about how much was the price of their products in DASH (and in decimals because not even one product cost was bigger than 0,00012 DASH)

I´d like to see a masternode feedback about this issue.

In order to Dash become the next digital of the world we need to solve this "divisibility" issue, to let it flow de microeconomy and micropayments like it is today. with regular cash


Nice post, tks for sharing!!
 
I'm sure there are many factors in the balance that make such a decision good or bad. The only one I know so far is the observation I make everyday with everybody : they generally think they can't buy (bitcoin) it because it's too expensive. Obviously that's a communication and education problem. That could be one of the solution to solve it.
 
Beru said:
One of the problem we have for mass adoption is the price of the inividual dash. It was one of the reason I didnt go all in 2015. Now in retrospect, its a non-issue, but for somebody new to this, the number of unity you got from your bucks is important. If we want to be the digital cash for the masses maybe we should think to move the decimal of the unity to stay in the range of $1 to $10. We already have to do this to the fees on a regular basis.

I dont want to push this too much, but I'm curious to have opinions on the subject. I can see it as a way to differentiate us from bitcoin (digital gold). Is this a technically feasible feature we can implement? Maybe its totally outside of whats possible from a economic or technical perspective. Please give your feedback. If there is a majority of more than 75% who vote yes from 20 votes or more, I will make a proposal of 5 dash to reimburse the fees.
Click to expand...

I like the idea. However, a problem with this is that even if Dash was to increase it's supply or "split" the tokens, the price would continue to appreciate upwards beyond $10 until the discussion would then reoccur where we need to "split" yet again.

Dash, like most cryptocurrencies, is a deflationary currency. Deflationary currencies incentivize hoarding. Hoarding causes the price to rise. A simpler approach would be to educate people better on how Dash is highly divisible. Applications already exist will that help normal consumers translate their native currency into Dash
 
it's totally irrational to care about the price because the unit (1 dash) is a completely arbitrary value. Anyone who is too stupid to invest because they can't have one whole unit is someone I don't want holding my cryptocoin. It's ROI (return on investment) that counts. A 220 pound woman isn't fatter than a 100KG woman. We are not the coin that tries to sell ourselves to morons. If you're not smart enough to get into the club, you don't belong.
 
I understand the psychology, but I also think that we don't have a real problem until duff is no longer small enough unit for transacting, which certainly won't happen anytime soon.
Also, there is a positive feedback when people see a coin that is worth more than $1000 or something. Just look at Bitcoin.
 
Dandy said:
I understand the psychology, but I also think that we don't have a real problem until duff is no longer small enough unit for transacting, which certainly won't happen anytime soon.
Also, there is a positive feedback when people see a coin that is worth more than $1000 or something. Just look at Bitcoin.
Click to expand...
Stop changing the meaning of the words.
Dash is not a coin. It is a collectible item.
 
Добрый день уменя проблема на моём маинерре где находится палты для чипов потерялис симболи 0 на одном вофше х
прошу помоч и разабратся в чём дело и что делать с данной проблемой
 
We can just give a name to 10^-6 Dash and call it a Bash, a Flash or a Mash.

All kidding aside, changing what Dash represents vis-a-vis the total supply is not even a possibility. It would be confusing and seriously hurt our brand, as well as being a technical nightmare that would delay shipping evolution and possibly cause people to lose a lot of Dash by error.

I understand what people are thinking from a non technical side, but from a technical and strategic perspective it's a terrible idea.

However if Dash is one day worth so much that a duff/satoshi is too big to be the smallest denominator than we can definitely change the smallest denominator, it would require a lot of work, and probably won't be needed for at least another 5 years but it's doable.
 
Theres still not enough support to make a proposal. Thanks all for your comments. I will continue monitoring the thread, if votes in favor are 75% I will do a proposal, no time limit. I hope that it served the community to have this discussion.
 
@Beru Miners decide protocol, MNOs decide budget. Just because MNOs decide to change something in the code it doesn't just happen. I think at some point I will make a post explaining how our consensus works.
 
I think Dash's price still has a lot of room to grow. It will look inexpensive once it's on Coinbase, next to Bcash and BTC. Sand comparable to Ethereum.
 
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