The Rolling Thread :) (go to end for newest posts)

For every 800$ sold, there has to be 800$ in for the price to stay the same. So in 1 week at least 5600$ of fresh money has to flow in otherwise the price will go down. This is like a sell off pressure. So if a guy sells his coins like weekly this creates a big sell pressure. Actually owing 600 nodes is a big of a deal, as the person gets 10% of all mined coined (considerign MN count is 2400 and MN reward is 40%). So a single person is getting ~10% of all newly mined coins... Looking at his MNs, the coins are not being accumulated - this means he/she indead does sell off. This kinda sucks...and if a price of DASH goes up, so does the sell pressure. So this is a true wale on whose mercy the whole DASH project stands... Like this person could just screw over DASH so badly, he could kill this project with so many coins in his hand... I dont like it. Can it be that the info is not correct and there is no such person owning 600 MNs...?
P.s. Assuming the information is correct. Hope it is not correct!
 
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Tante, I got the feeling your "brain farts" were fishing for other brain farts to mingle with and create one harmonious musk, so here are a few of my own fumes in response...

The last time I read about "Distributed Autonomous Corporations" it was on the homepage of Protoshares, which is now gone from the internet http://invictus-innovations.com/protoshares. Not sure if it is not just the same few guys preying on the same anarchist-type investors under different names (bitshares, etherium) so they can dump on them again and again.

It all sounds nice, but someone just has to really take the proof of concept into reality where market cap due to speculation or insider "seeding/ICO" is not a valid indicator. Therein lies the challenge--"someone" has to do it, which would imply a degree of non-distribution and anti-automation. I'm not sure how all of it works, but it seems to me that big things only get done when someone is in charge. It may be great, but protobitbanxetheriyomommashares has caused me to put my anti-marketing, skeptic hat on.

Regarding services:
The idea of an exchange built into a currency runs contrary to the idea of a currency. At that point it is a service, not a commodity with value of its own. A currency should be designed with no intention of it being something other than itself, IMO. I don't think you can do otherwise and still claim it is a currency *cough*Ripple*cough.

The vanitybit naming thing is also a service, IMO. My gut instinct on it is that there's no reason to clutter up the coin itself with such things. The service aspects of Dash should be only to guarantee its functionality, compatibility and fungibility. Once you have GOLD, you can then use whatever melting, shaping, engraving, painting, stacking, carting or other usage and manipulation of it you want. Those are services, and you can start trusting them because you can trust the gold they're based on.

Once Dash is "finished" (i.e. to a point where it is completely stable, bug-free, private, fully fungible and safe, and starts gaining mainstream adoption), then it is up to the service providers to interpret, visualize and build from there. Getting the coin to the point where it just works no matter what is a bit of a chicken and egg problem itself. Once it is "great" and people everywhere realize that fact, then everyone and her brother will be out there trying every possible to get people to give more of it to them. Look how many services exist for US dollars?

So in brain-fart conclusion, I view real cryptos like Dash and BTC with the notion "if you build it, they will come (and build infrastructure around it)." If you keep changing it, you destroy its persistent value and people can no longer rely on it to be itself. As Toknormal said in a great post a few days ago on BCT, you have to plant your flag in deciding if you're creating a payments system or electronic money.

There are very subtle differences in emphasis there but huge differences in outcome. If you get your priorities wrong you end up with no more than a distributed bookeeping system that increments a number in one private account and decrements it in another private account like the fiat banking system.

Bitcoin defined electronic "money" as distinct from "currency". The difference is that money is a base asset (like precious metals and stones) whereas currency is the certificates or "numbers in an account" that represent that underlying asset. You can't therefore mess with the bitcoin model other than very subtly without knowing what you are doing and understanding how your are affecting the value proposition at all times.

In that link above I cite an example of the approach that I think didn't do that and threw the baby out with the bathwater in the over-obsessive pursuit of a non-monetary property.
Click to expand...
 
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BiteMyShinyMetalAss said:
For every 800$ sold, there has to be 800$ in for the price to stay the same. So in 1 week at least 5600$ of fresh money has to flow in otherwise the price will go down. This is like a sell off pressure. So if a guy sells his coins like weekly this creates a big sell pressure. Actually owing 600 nodes is a big of a deal, as the person gets 10% of all mined coined (considerign MN count is 2400 and MN reward is 40%). So a single person is getting ~10% of all newly mined coins... Looking at his MNs, the coins are not being accumulated - this means he/she indead does sell off. This kinda sucks...and if a price of DASH goes up, so does the sell pressure. So this is a true wale on whose mercy the whole DASH project stands... Like this person could just screw over DASH so badly, he could kill this project with so many coins in his hand... I dont like it. Can it be that the info is not correct and there is no such person owning 600 MNs...?
P.s. Assuming the information is correct. Hope it is not correct!
Click to expand...

This is not different from the bitcoin mining situation. One must assume that all miners will by default sell their profit into another currency or asset, and any holding of the mining profits is an active choice of pure speculation/investment. That is why people are so concerned about a coin's emission curve and annual inflation. That monero, which currently has very high inflation rate, does not constantly creep down in price means that most miners are also speculators, and accumulating large positions, too.

However, the situation there is different with a miner/speculator/holder because they need to actually dump on new money invested if they want to keep purchasing mining equipment and paying the electricity bill and rent. So if the highly inflationary coin's hash rate keeps going up despite the price decrease, then the coin is supposedly doing better with age. If not, then it means those miner-holders are only speculating short term and dumping without furthering the coin's progress. With MN, no dump is necessary from the service provider if he also speculates by holding coins and setting up more MN. That's one of the brilliant economic advantages of the masternode incentive. So I think our currently growing MN can be viewed in roughly the same way as the hash rate of a PoW coin increasing despite gradual price decline...
 
@ Bridgewater:

"Regarding services:
The idea of an exchange built into a currency runs contrary to the idea of a currency. At that point it is a service, not a commodity with value of its own. A currency should be designed with no intention of it being something other than itself, IMO. I don't think you can do otherwise and still claim it is a currency *cough*Ripple*cough."

Oh, I don't see the coin having anything to do with running a distributed exchange, I see the masternodes doing it. Masternodes would run a ticker and automatically hook up buyers and sellers. Buyers and sellers would not give over their funds, they'd be held in an escrow until matched or pulled by the owner, whereupon the masternode network would approve the match and funds would be exchanged. THAT's what I've wanted since day 1 of the masternode network coming into existence :)

I don't think it'll be possible to do anything with fiat but with other coins, as long as they can interface (which might be something everyone would be willing to implement, if not too difficult) then it'd be good to go.

One day it'll happen, but I hope it'll be DASH that does it. Heck, it could earn masternodes more money for providing this service. Or those extra funds could be directed toward development?

And you're right, I want to talk! It's this dreaming stuff I love the most, rather than fighting trolls. That's more my kid's forte, fighting trolls, gremlins and diablos, LOL
 
My community club is going to do a charity even on 20th of June, its very small charity of a primary school, the money will go to one of the african schools ( Nyabongo School in Kenya).
Event will take place at schools summer holiday fair (or something).
So I fought to make a tshirt and maybe a banner with a DASH and involve it. To be clear, not looking for a lot of donations and there will be maybe 100-200 people. However, still exposure.
We are a small community martial art club and we will be breaking boards (details are not clare at the moment), but this event will attract pretty much everyones attention at the fair.
So I kinda would need your help guys.
1) Do you guys think its a good idea?
2) If its a good idea, i should create a wallet for the club and put it online. Also will post a link when the text is ready and details are clear, just brainstorming now.
3) Maybe should put a banner or stand saying something "DASH - new age currency. Community donated xx DASH (yy£). More information about financial freedom at dashpay.io" or something.
4) The last thing, will have to send this money to Nyabongo School in Kenya. Now, whats the best idead with collecting donations. Maybe some escrow that could go straight to school. Guys probably dont have internet there...? Or maybe convert this money to £ and send with the rest of donations, but this kinda looses a purpose of DASH. Or perhaps load into a phone and send it to the guys, but then again - they may not have internet and wont be able to use it.
5) I dont expect to collect enough DASH so we could open a MN for the school and they would get a constant monthly income of money, this would be cool. Although this could be cool as we could put on a website on a charity events. So in this case some trusted member could set a MN and just send them monthly revenue... But I dont expect this much, its like a dream...

So what do you guys think?

If a video is released by that day, i could put a link to the video so 'fresh" common folk can scan QR code and see what is DASH during the event!!

Maybe use thos site https://www.bitpesa.co/ Have you guys hear of it? So if I would make contacts with the school and make them open an account there, the donations could be collected in escrow services and send to bitpesa.co. But this is another issue, bitpesa dont accept DASH. Whats the bes way to persuade them to accept it?
 
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Bite, I don't know anything about sending funds to Africa. I'd be afraid that a warlord or government official would just take it all? I assume your organization has ties with someone there, and they feel confident that the funds will be put to good use? I just don't know myself, so I couldn't say. Kenya should, however, have a lot of telephones, even in rural places. They may not be as common as each person having one, but I'd be confident in expecting that at least each village would have one.

The advertisement ideas would be great. Is it possible that the funds collected in DASH might be held by the people you're donating to instead of converted to local fiat? It might spark an interest?
 
....just jumping in with a quick observation on a different topic... ive just noticed that on coinmarketcap.com theyve put the ** symbol next to Dash indicating that Dash is significantly premined. This is totally inaccurate right?
 
Yah, that was Monero's campaign. Even so their coin has an even more dubious beginning. I just noticed something funny. Since this happened and the Monero fools have been on the BCT thread trying to rub our face in it, the price of DASH has been going up, LOL
 
Sure it looks bad, but mostly looks bad for coinmarketcap.com. I'm sure some people are complaining to them, or at least asking them to include a * on Bitcoin, Litecoin and Monero. This is pettiness on Monero, who are trying their hardest to destroy DASH. Frankly, I don't think they are who they say they are. (another coin) I think they have other motives because it's obvious that their attacks are not helping their coin. Think about it. They spend all their time doing this attacking. Who is paying for that, and how does that look to their coin? Yet they continue to do so. Why?

That is the question.
 
Maybe.

We need a good strategist because we're entering the war part of the takeover of the world. Make no doubt :) We really need to think how we're going to handle the onslaught.

Hey! Don't run away because I sound like a psychopath! LOL. You have to know banksters aren't going to take this lying down, and governments are getting uneasy because they can't control this. Therefor it's harder to tax. We are in the midst of a smear campaign right now, it's only stage 1.

All this can be worked out, but we're going to have to force 'em all to the table or lose. And this is the greatest invention for mankind in forever! So we can't lose (well, we won't lose in the end, but I want to win NOW!
 
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Ugh, I'm kind of afraid that we're at the end of ignore, and just starting the undermining/fighting. Wish we could just skip over that second part and go to win, LOL.
 
That's exactly where we are. It's not going to be easy. But just like in any war it's a a battle for hearts and minds. Our PR needs to be better than the opposition. We have nothing to fear but fear itself. Afterall we have the truth on our side. But history is written by the winners. Therefore we need to get the truth of our message across to the many.

You believe it, I believe it, but not enough of the masses know about Dash yet.
 
Looks like the coinmarketcap thing has been sorted. Yes. A small (but significant) battle won.... We're on our way....
 
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