Re: [ANN][DASH] Dash | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX

DASH was billed as ASIC resistant. So that has to be taken into consideration.

"resistant" means that somebody would have to invest a lot of time and trouble to pull it off. In this case, somebody cared enough to do it.

@oaxaca made this point on Slack. If you are a Dash investor, would you like to know that the network is secured by this:

or this:

So there's that...

Nice try.

But the reality is that warehouses of miners are located in the remote hills in China next to hydro plants. They are behind the great firewall of China. If you want to visit China to beg one or two miners to support a hard fork then keep kidding yourself that investors give a shit about anything other than a shiny GUI.

I was told that DASH transactions were secured by the masternode network and that the miners only provide a source of entropy for the selecting of the masternodes.
It seems that Ethereum is also going in that direction. They will use PoS with a security deposit system (like the masternodes in DASH): https://www.youtube.com/watch?v=StMBdBfwn8c
(they didn't yet say where their source of entropy will come from though)

It seems that ETH thinks that having no miners at all is more secure that centralized mining like in BTC or (in the future) in DASH.