Crypto 101: Episode Next: The DASH Difference- What makes it unique, why everyone talks about it & why it's always a top Crypto
I'm back with another Blue Collar Crypto 101 talk today. DASH 101! - in simple language. (VIDEO by DASH -10 mins)
I am finding out more daily how much of a community DASH really has. They are different. And they are good.
Earlier in the week I had a really well performing blog post that did well on Steemit and the official Social Media accounts of DASH (several of them) - shared/posted retweeted the post too, seeing I was a Crypto Noob really digging in and learning about DASH and then trying to share that info with you guys and the world.
That post is here -- https://steemit.com/blockchain/@barrydutton/til-a-ton-of-crypto-101-info-about-dash-coin-new-blockchain-tech-and-why-everyone-talks-about-amanda-b-johnson-so-highly
Not only was I questioned in my post there about the differences of DASH to other Crypto Currencies but TBH-- I had been wondering for like.... 2-3 months myself why everyone talks about DASH, why it's different and why it always is a top performing Crypto Currency usually in the top 5/10 on the market today behind the grand daddy of them all -- Bitcoin.
So today, I am covering that.
I dug into yet another video on the subject by Crypto and DASH expert -- Amanda B. Johnson. If you have not watched her videos online on any of the channels, you might want to. Like I said in my last post, she is engaging, easy to listen to, funny, very intelligent and yes, people, she is very pretty. I say these things again because as my other blog post noted -
I wondered why you always see Amanda's name so much in Crypto. Those are the reasons why.
When I coined the phrase on Steemit and other SM sites #CryptoCrush -- well, I guess some other people related because I received several messages on it. This whole blockchain life has introduced me to lots of people.
I am a pretty regular guy in most respects and am single and I've realized how hard it is for single people to find Liberty minded, awake and intelligent people and many of us find these qualities attractive in people.
That is one reason it is easy to learn from like-minded people you can relate to and admire. I digress.
DASH SCHOOL AND WHY IS DASH UNIQUE AND DIFFERENT?
DASH SCHOOL is the name of one of the series Amanda is doing and that is where the above video comes from, off one of the official DASH channels. This is video #5 in that series. I picked this one because I wanted to KNOW FOR MYSELF why DASH is different and why and this video addresses that. DASH 101 so to speak.
1/ DASH has Instant Send Confirmations on their Blockchain
- unlike the other Cryptos on the market Those confirmations come in about 1.3 seconds as I write this with the info in front of me today Friday 6th, 2016
2/ DASH has Private Send Confirmations on their Blockchain.
- (6.34 mark of video) - which eliminates the "fickleness" of human beings dealing with one another and also deals with and ups the game on the PRIVACY factor. Simply put it swaps the coins among all the users in the blockchain and breaks the "traceability" issues. Neat stuff.
3/ The DASH Masternode setup and terms are different like many things DASH seems to be all about!
- In brief, I learned this week that to have a Masternode -- you have to prove you are INVESTED (vested, like our Power Ups or Steem Power - here on Steemit) - with 1000 DASH. It means you are a stakeholder and have lots to gain or lose with your witness votes on the blockchain for DASH which makes sense.
The MasterNodes have the 3 basic features here to maintain the Private Send - Instant Send - features along with maintaining the DASH blockchain.
The blockchain witnesses / Masternodes like with other currencies have the collective job of "being in charge when there's nobody in charge" as Amanda explains nicely here.
The updated stats on these DASH masternodes combining the 2 categories they have - total 4781 total nodes. (As of today jan. 6th 2016)
The DASH masternodes allow the system to fund themselves and pay for everything and it covers off the Voting Decisions that need to be made on the network.
Something recently vote-wise was handled on DASH I learned listening to Amanda elsewhere (see my last blog post mentioned here) -- within about 24 hours that was a mission critical matter that could have crippled other blockchains with a drawn out battle.
Things we notice in other blockchains that cause Hard Fork fights and issues and whatnot. DASH handled it quickly and cleanly. That stuck with me also.
DASH is about to break new ground with a new product and release JUST about ready to hit the market which will address and solve the 3 major issues with a crypto currency these days:
##- The wallet address hassles and problems, issues with passwords and the fact paying for things etc with crypto are hard in general and I will cover that soon.
That product is called
DASH Evolution
and sounds like a GAMECHANGER for sure. We will cover that next!
Images all sourced today right from the DASH.org website! They have a drop down menu you can use to source all kinds of content there! Another reason I like them!
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Bitcoin: 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
I think there's a chance Coinbase may offer DASH as its next crypto available for purchase on the Coinbase site due to the strong business model, anonymous features and emphasis on real-world use as "digital cash". It would also be great if the Apple app store would allow iPhone apps for DASH (and other crypto currencies). They are currently banned in the App Store from the Jaxx wallet and others, and it is probably hindering progress in the space. If there is a case for widespread adoption of crypto-currencies beyond BTC, I think privacy and solid governance are the features that people would appreciate most. (Disclosure: I run DASH master nodes).
I have always had the impression that DASH master nodes setup is very similar to a MLM scheme, this is why I don't hold DASH, but I do trade it
It's nothing to do with MLM. The Masternode operators just get 10% of the mining rewards for the services they provide to the network, namely "instant send" transactions, "dark" mixing and governance through a voting mechanism. More of a Proof-of-Work / Proof-of-Stake hybrid model.
I can own 10 master nodes and buy additional master nodes with the 10% rewards, that's like a MLM scheme, as those who cannot afford to pay for master nodes are the ones who are paying for that 10%
you don't need to own 1000 dash to get masternode rewards. there are several trusted services you can use for as little as 25 or so coins.
even if that was not the case it would still not be a mlm scheme.
in the future there will be trustless interest bearing accounts as well.
looks and feels like a MLM scheme to me, maybe not to anyone else, but to me it does
i've been in dash for almost 3 years and have heard a lot of fud but never that it is a mlm scheme, that's a new one. i did use to hear haters say btc was a pyramid scheme way back in the day but i don't hear that much any more.
I am reading all the comments that come in on this here good and bad. I have heard others say DASH has it's problems.... but they all do I was saying down in the other comments where you are chatting also here about it.
if coinbase add DASH, then it wont matter what problems they have, but DASH being blocked from apple iphone may prevent it from being added to coinbase
I just learned today about these issues doing my research for this 00 except for last week -- I had learned about Coinbase looking at adding them and some other CC to their market.
I think you might be right on those counts Craig. I would bet DASH is added to CB. I am not sure why Apple is doing that to them.
Then again.... #Globalists lol
Apple is smart, they are not willing to "look the other way", that's why
I would bet coinbase adds Zcash, as Zcash is very corporate business friendly, one of the reasons zcash was created if for corporate entitties to have privacy with their blockchain tranactions
apple is not very smart, just look how they treated btc not too long ago. they also approved the DAO so they are still a bit clueless when it comes to crypto.
There's only a few cryptocoins that ARE allowed in iOS store apps. The issue isn't unique to DASH. (But they do allow OneCoin, which is a known scam).
thats why one coin is allowed, because it's no secret that is a scam, DASH was darkcoin before it was DASH, there is less transparency and much confusion about what DASH is or was,
My full Movie review- just out if you are looking for something good to watch/read etc BankingOnBitcoin -- Movie just released Friday!
https://steemit.com/bitcoin/@barrydutton/movie-review-banking-on-bitcoin-brand-new-movie-out-showcasing-all-the-names-and-issues-we-are-familiar-with-in-the-liberty
Hi there again.
How can I reach you privately, say by email. I have some DASH questions since you are pretty involved. Perhaps a simple opportunity also
I'm such a noob lol
Nesting/ had to reply here. Thanks for the input on this thread Craig. I appreciate the way you keep things simple when you know some of us are learning. I always appreciate that about you. Win the day brother.
Great input!
I just had to re follow you, you must have been dumped off my list like many others during the issues awhile back
You offer great input and I like the disclosure lol.
I wish I could get my hands on some more DASH, like badly LOL.
#MinnowLife
Did you comment on the DASH video out today? I saw a pic of a guy there when I commented that looked like you.
I'm just working now on getting a DASH post done - with today's video for people. Out soon
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Thanks
Good job Amanda. One thing I would add is that the Dash network is closing in on Blockchain for the number of nodes. The network is getting stronger and more stable all the tim and there is no reason it can't have a similar value to Bitcoin.
Good input!!
https://twitter.com/BarryDutton/status/817546302447882240
Disclaimer: I am just a bot trying to be helpful.
I suggested to Amanda and Pete to have a Steemit blog. They haven't gotten back to me. Maybe it's a conflict of interests or something, I don't know. I think they'd be great on Steemit.
Dash, Bitshares, and Steem: my favorites.
I didn't know any of that, they really got hold of my post the other day on here about DASH and shared it all over their SM accounts, like I was saying here. They definitely know about Steemit for sure!
Amanda is pretty active so they are likely dealing with it somehow, TY for the input.
I highly doubt it, and personally I would never invest in DASH. They have several flaws in their blockchain.
been a while since I seen someone with bad vibes about DASH, I get the same type of bad vibe from it, I trade it, but can't hold it, the master nodes setup seems like a MLM scheme
Craig My full Movie review- just out if you are looking for something good to watch/read etc BankingOnBitcoin -- Movie just released Friday!
https://steemit.com/bitcoin/@barrydutton/movie-review-banking-on-bitcoin-brand-new-movie-out-showcasing-all-the-names-and-issues-we-are-familiar-with-in-the-liberty
Interesting input.
Can you list the issues you think they have ??
I think most places all have SOME flaws anyways, no?
TYIA for the input and the comments
For one, they claim to be anon but masternodes can collude to reveal transactions. That is only the tip of the iceberg. There are several more issues with DASH. Be very careful. I am glad at least you have found STEEM. BTC + STEEM are solid.
It's news to me. I run multiple master nodes, and I have no idea how to "collude". There are over 4000 nodes, and no way to know who runs them, so even if coordination was possible, it would be quite a feat. The DASH software is a clone of BTC and open for anyone to inspect.
... reading all the comments good and bad.
Reading all the comments good and bad.
lol, yeah i think if you spend like $100 million buying masternodes you could possibly spy on maybe 3% of transactions, would actually cost more than that because there are not enough masternodes for sale, not even close. there are solutions to even that unlikely attack vector in the works as well. unlike some other anon coins dash is constantly innovating and evolving.
here is the chart with the mathematical probabilities of a attack like that...
http://imgur.com/WuooipA
https://docs.google.com/spreadsheets/d/1hZ4BWlRgOmWSL336oBHmk0Mcl9AzdS6v6XsEDKlc5PQ/edit#gid=57965184
Think Craig-grant hit the nail on the head.... master nodes , too much control and profit at top
is there a crypto coin where this is not the case? please share because i don't know of any that don't have mega whales with lots of coins. btc for the main one and all coins are priced in btc, so if btc has a whale distribution problem then all coins will too.
not sure what it is but i have niggly doubts about dash, thankyou for awesome content as always
... thanks for the input!!
https://t.co/3NsrPnMaXJ
Excellent information my great friend @barrydutton.
Very interesting this criptomoneda, must be followed closely, I have been investing in Ripple lately grew an 11%, another very interesting to study is Monero, consider it for your reports.
Greetings to the family
It's just me here but thanks LOL
Monero is something I will be writing on soon! Thanks for LMK what you are looking into, always like to hear that stuff from friends.
have a nice weekend brother -- TY for the kind words as always
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