Insider's view of Dash's corruption
I've been a Dash masternode owner for two years and a dashhole for 3. During that time, I've witnessed a corrupt system get even more corrupt to the point now where it's basically all that holds the whole thing together. The public needs to know.
The corruption is centered around, what else, money. Various factions- miners, treasury feeders, and moderators fight for their share of the spoils and they fight dirty. They key is control of the forums on discord and reddit. With crypto, money is information and whoever controls the information flow controls the purse strings. As dash has slipped in market rank, from #3 to currently #20 on coinmarketcap and a loss of >94% of value, the fight for spoils has not abated but in fact intensified at the expense of the hodlers.
I told the other MNOs that if we didn't control treasury spending, eventually the market would force us to, and that's exactly what happened.
Miners also want to protect their 45% of block rewards even if it means giving a big chunk to power companies for marginal extra security. They also post coins as collateral for loans rather than selling to save on taxes and to create artificial scarcity. It's from this extra profit that they pay the toll to the gatekeepers and block any attempts to reduce their allocation.
Dash Core Group is attempting to potentially double the allocation of the treasury from 10% to 20% because they have a declared self-imposed cap of taking 60% of treasury asks and they suspect (and I agree) that 60% won't be enough if de-leveraging continues. Masternode owners are basically held hostage because we have no alternative if we de-fund them. The bullshit rationale that the Dash trust "owns" DCG is just that, because it does no good to own something you can't sell and can't control.
Another way the the controlling looters and pillagers from the inside are insulating themselves from a investor revolt is by establishing the Dash Investment Trust, basically a war chest and rainy day fund to keep them going even if hodlers and regular MNOs can't.
Venezuela is in the process of being cut loose, after the Cabal finally realized what I had been saying all along: it's a money sink and not a profit center. VE and to a lesser extent other emerging markets were merely a way to goose adoption statistics while adding almost no real value.
Dash transaction fees are also crazy low, and that allows the cabal to fake real TX volume for a low cost.
The much-anticipated second layer upgrade Evolution, now renamed Platform is also massively behind schedule, despite assurances that it's right around the corner.
With the trade war, corona virus, supply chain disruptions, and massive debt putting downward pressure on the broader economy, and Dash's pre-occupation for looting crypto- buyers and hodlers, I can't in good conscience recommend buying Dash at this time. If Dash is to be fixed, it won't be by the same people who turned it into what it is today.
The legacy of the insta-mine lives on in the Dash culture and anyone hoping for Moon and Lambos, or even price stability may be sorely disappointed, at least until a de-leveraging of the millions of dash effectively with loans against it one way or another and/or a substantial housecleaning takes place. Please feel free to re-post this expose wherever and as often as you see fit.
I wish I had better news, but the truth is the truth. It is possible central bank money printing or a general crypto bull market will lift Dash along with it, but The blockchain is getting longer, chainlocks for instant send, private send and eventually Platform functions will will increase the cost of operating a masternode while the service rewards go down, so it just doesn't seem like a good investment relative to other opportunities at this time, or at least dangerous for those who have too much exposure.