Digital Cash

A Privacy­-Centric Crypto­currency

DASH: A Cryptocurrency here to Stay?

by Jabba-Q

DASH is, its founder Evan Duffield wrote in the white paper, “a crypto­currency based on Bitcoin, the work of Satoshi Nakamoto, with various improvements such as a two­-tier incentivized network, known as the Masternode network.” Therefore, DASH pioneered the concept of incentivized nodes, a real game changer, making the masternode network really secure. There hasn’t been a single instance of a hack or a network failure in a Dash masternode network over years it existed. (as XCoin and Darkcoin)

Masternode network, DASH’s 2nd tier network, is the structure that allows Dash to include innovations that Bitcoin can’t currently adopt, including InstantSend, PrivateSend, and the Dash Budget System, their famous albeit flawed governance.

DASH, in our opinion, is one mighty organizational structure with several weaknesses that need deeper analysis we hope to come back to in the weeks and months to come. It’s inventor, quiet force that is Evan Duffield is somewhat in between the greatest visionary in the crypto space since Nakamoto and a cunning manipulator, given his legacy world financial background and that famous “Dash Instamine.” Evan himself dismisses the recurring accusations regarding the “Instamine” and it is highly likely it was an honest mistake and the initial coins have been long since distributed. (i.e. they are not in Evan’s or his co-conspirators hands)

Alas, just when this issue was becoming old, tired adagio only haters use, DASH’s snake-oil salesman in charge, a certain Ryan Tylor, yet another of the guys coming from the warm underbelly of the Financial Crime Cartel, whose company, Inaltair, LLC, “Provided equity research and due diligence services to hedge fund clients on a project basis. Covered investments in the payments and technology sectors for long/short public markets and private equity funds,” chimed in with Dash Instamine Issue Clarification. (it was originally penned by another DASH core member, Robert Wiecko but Taylor, quite likely, added some needed obfuscations. (“last edited” by him)

Note how Taylor presents the “Facts”:

— 1.86MM first 24h, ~2.02MM first 48h according to https://chainz.cryptoid.info/dash/#@inflation
— That represents approximately 10-15% of the total money supply that will ever be issued

Now we seriously nitpick, I know, but truly not to be mean but to express our concerns. Taylor, apparently Evan’s buddy from the days when both were working in Phoenix, Arizona, in various financial services, can not hide his true nature and avoid manipulating any number he comes accross. A skill of presenting ONLY data that bode well for your position while neglecting the others is a worrisome treat one of the DASH’s key people keep revealing about himself.

Total supply of DASH in 2017 will have been 6,640,767.03 DASH so the “instamined” coins, these 1.86MM first 24h, ~2.02MM first 48h, also represent approximately 28-30% of the total money supply TODAY (and even more one or two years ago). 10%-15% looks much better than 28%-30%, so that’s yet another fact Taylor conveniently avoids to mention as he tweaks the numbers to his benefit. If infamous DASH Instamine was an honest mistake as it appears to be as one listens to Evan, than total transparency is the best way to go, or you will have keep facing the same issue all over again.

The Future of DASH?

Oh, boy, this one is gonna to be a fun ride, no matter the outcome.

We see DASH as the litmus paper of crypto. It has a great to fantastic developers. Its core features some shady to swindling-like imports from the Financial Crime Cartel world. DASH also has devoted to fanatical followers. It’s budget gives them means for a mighty PR machine to go full throttle and to support developments. Its web presence is beyond impressive.

Our gut feeling tells us that DASH, lead by the guys from the “finance services,” lawyers that helped killed the Darkcoin name because they wanted a wide adoption and a poker-player as the mastermind at large (check them out here), aims at the legacy world. It is highly likely they see the world through the lenses they deem realistic and will move, as Evan said quite a few times, toward the Wells Fargo model, as they also aim at becoming PayPal 2.0.

We see DASH’s future as a corporation trading on the NYSE or NASDAQ, and for sure not as a stalwart defender of our right to privacy. We HOPE our gut feeling is wrong. What say you? Is DASH a high-yield Ponzi that will dry up once the critical mass of MN has been reached or new coins will not have been issued? Or perhaps, as such, would it be swallowed by the Wall Street and make their shareholders billionaires as DASH vanes from the crypto scene? Or is it all that Bitcoin could have been and would end up ruling the crypto world? The history will tell. Until, vote DASH up or down, comment your opinions, submit your research…

DASH is probably the project that would require of us a lot of thinking and working in order to properly evaluate its future, if there is any.

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