Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency
I sold out all my Dash too. I was a huge believer in the project. until the vote to give more supply to masternodes. Which was an epic fail by all standards.
The argument was something like, miners sell their coins and masternode holder don't so less selling will make price go up. And more supply 'rewarded' to masternodes will entice more masternodes to come online so more will be hodl'd and price will go up. masternode holders loved that and wouldn't listen to good sense arguing otherwise. it was almost like they dont like proof of work.
So lets have a look shall we, heres the number of masternodes since the reward allocation was changed, marked with a big red arrow.
oh dear.
and here's price. same story.
As people like toknormal and myself and very few others pointed pointed out all along. this wont work. guess what we were right.
IF instead, with a reward allocation favoring proof of work and paying masternode holders enough only to cover costs of running a cheap node, dash could have been above the likes of litecoin and monero now.
It was obvious (to some) that Dash masternode holders made a huge error of judgement, voting more masternode reward for themselves. Based on their own greed they screwed this project. Such a shame.
it really is a credit to dash that it is clinging in the top 100 when you consider how much of the supply is given away almost for free with every... single ... block
The argument was something like, miners sell their coins and masternode holder don't so less selling will make price go up. And more supply 'rewarded' to masternodes will entice more masternodes to come online so more will be hodl'd and price will go up. masternode holders loved that and wouldn't listen to good sense arguing otherwise. it was almost like they dont like proof of work.
So lets have a look shall we, heres the number of masternodes since the reward allocation was changed, marked with a big red arrow.
oh dear.
and here's price. same story.
As people like toknormal and myself and very few others pointed pointed out all along. this wont work. guess what we were right.
IF instead, with a reward allocation favoring proof of work and paying masternode holders enough only to cover costs of running a cheap node, dash could have been above the likes of litecoin and monero now.
It was obvious (to some) that Dash masternode holders made a huge error of judgement, voting more masternode reward for themselves. Based on their own greed they screwed this project. Such a shame.
it really is a credit to dash that it is clinging in the top 100 when you consider how much of the supply is given away almost for free with every... single ... block
your charts were already bearish before the vote you considered key.
I think that Dash already had a great decadent career since it handed over the funds to a DCG team that only managed it directly for their pockets, and to some masternodes that voted for million-dollar proposals to finance garbage that never gave value to the network. If they had done things differently a few years ago with that budget, today Dash would be top 5 without a doubt.