DASH Survival GuidesteemCreated with Sketch.

in dash •  9 months ago

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WHAT IS DASH?

The simplest answer is digital cash. If you’ve heard of Bitcoin, Dash is a lot like Bitcoin except it’s currently being developed and marketed for regular people to use. One of the main obstacles that prevents mainstream adoption of Bitcoin is the way the Bitcoin addresses appear to people who are unfamiliar with cryptography.

Here’s a sample Bitcoin address:
1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy.
Do you experience a knee-jerk reaction when you see that address? Many people do. In the future, Dash aims to create a system that relies on usernames instead of these alphanumeric addresses which generally confuse the crap out of the average person.

WHAT CAN DASH DO?

When you send Dash to someone, it arrives very quickly and with extremely low transaction fees. For example, you could send Dash to your friend Satoshi in Japan and he would get it in less than a minute and without big international fees added to it. You could also send it privately, meaning the transaction wouldn’t be traced. Dash also offers an InstantSend option for those who want even a faster transaction speed, like when you go into a store to purchase a coffee.

HOW IS DASH DIFFERENT FROM BITCOIN?

Dash has privacy features and a slightly different organizational structure. Bitcoin has no privacy features built into it.
HOW LONG HAS DASH BEEN AROUND?
Dash began on January 18, 2014.

WHO CREATED DASH?

Dash was created by software developer Evan Duffield. You can see the Core Team here: https://www.dash.org/team/

I’VE HEARD OF BITCOIN, HOW COME I’VE NEVER HEARD OF DASH?

Dash is a much newer digital currency than Bitcoin. Bitcoin’s network began in 2009, so it has been operating for 8 years. Dash was started 3 years ago, so naturally, not as many people have heard about it yet.

WHY HAS THE VALUE OF DASH GONE UP SO MUCH RECENTLY?

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Dash is now the third largest digital currency. While no one knows for certain all the reasons, a proposal in the Dash community recently passed that would make it easier for people to get Dash who don’t already have Bitcoin. It appears that this new partnership seeks to create an easy method for people who have only fiat currency to get Dash. They haven’t yet released the name of their new partner yet.

As it is right now, altcoins like Dash have to be converted to Bitcoin before going into fiat currency like USD or EUROS. If this partnership goes through successfully, this could potentially mark a significant step towards mainstream adoption in the long-term. Read the announcement in full here: https://www.dashcentral.org/p/bsdev-general-201702

Here’s a portion of the announcement:

“First, it will eliminate the need for the majority of our users to pass through Bitcoin / Dash trading pairs, and reduce the friction and overall trading and transaction fee costs involved in acquiring and selling Dash today. Making Dash easier to access in a highly liquid market should enable greater flow of capital to enter into our ecosystem. Second, adding Dash to a brand-name exchange provides an endorsement of the value our project brings to the digital currency ecosystem, and adds credibility to many of other ongoing negotiations with other service providers. Third, this relationship will enable other services dependent on major exchange fiat pairs and pricing to more easily incorporate Dash.”

In addition to this announcement, Roger Ver, known as the Bitcoin Jesus, recently wrote a tweet describing how he sent $100,000 into the Dash ecosystem:

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He received a lot of blowback from Bitcoin loyalists who mocked his interest in Dash. Only time will tell if Roger Ver’s optimistic outlook on Dash will materialize into huge gains but the recent signs look promising. Dash has a robust marketing and business development team that few other altcoins can compete with.

WHAT ARE SOME GENERAL IMPRESSIONS ABOUT THE DASH COMMUNITY?

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As a very new Dash user, I have formed some general impressions about the Dash community, its organization and overall strategy. I’ve been aware of Dash for many months, but it wasn’t until recently that I bought a few Dash. So, I’m not heavily invested in Dash yet.

My first impressions of the Dash community were very positive.

I joined the Dash Forum a week ago and interacted with newbie users and Dash veterans alike. I found it to be a good experience and was impressed with its organization. Most importantly, I didn’t feel any disdain for me being a newbie in the Dash forum. In the cryptocurrency world, there seems to be a lot of jerks who make fun of people for not knowing much about digital coins. I’ve encountered this attitude a lot in my personal experiences and I find it one of the most annoying aspects of its culture.

It feels kind of like going into an insecure teenage boy’s room and getting ridiculed for asking an honest question.

For the most part, it’s apparent that the moderators in the Dash forum are particularly tuned into the needs of newbie Dash users and go out of their way to make them feel comfortable. At least that was my experience.

A lot of my positive impressions about Dash have to do with its clear communication strategy, organizational structure and commitment to the goal of going mainstream. Another big reason I have a positive impression is because Amanda B. Johnson saw something unique in Dash that apparently didn’t exist in other digital currencies. It appears she chose Dash over the other digital coins in 2015, so that is indicative of something. If you’re new to Dash, I highly recommend that you go to Amanda’s Youtube channel to learn more. She’s a great teacher, and I relied on her videos to teach me very basic things about blockchain technology when I first began writing on Steemit.

WHAT ARE SOME CONTROVERSIES IN DASH?

The only significant controversy I could find in my recent research this week is how the coin was launched. I won’t go into a ton of detail or give you my opinion on this because I don’t know enough about it. I found a video that seemed to do a fair job of explaining what the controversy is about:

Come to your own conclusions regarding how the launch of the coin was handled, but keep in mind, most regular people won’t be bothered with analyzing it. Most regular people are only concerned with how easy a certain type of technology is to use and how they are being treated in the process of learning how to use it. They are interested in communication, organization and transparency. These are the magic bullets that most crypto developers don’t really get or pay attention to.

WHERE CAN I FIND DASH IN MY FAVORITE SOCIAL MEDIA SITES?

Official website: https://www.dash.org/
Facebook: https://www.facebook.com/DashPay
Twitter: https://twitter.com/DASHdetailed?lang=en
YouTube: https://www.youtube.com/channel/UCAzD2v9Yx4a4iS2_-unODkA
Instagram: https://www.instagram.com/dashpay/

Oddly enough, I ran into Charlie Shrem today in the Dash Forum! And Barry Dutton too!

This article was first posted on Medium.

I am sad today because Dan is gone. That actually sucks. He was part of the reason I stayed here.

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I bought DASH thanks to a comment thread on a post in which you were talking about getting in on it and it has soared! Thank you! I am awfy happy!! :O)

Another controversy surrounds the consolidation of masternodes, which is the governance methodology used by Dash. Some fear that a deep-pocketed whale will come along and buy up all the nodes and either crash the system or dominate its voting.

As a result of that concern Dash forked and Pivx was born, which mitigates masternode consolidation through something called the "see-saw" mechanism. Pretty brilliant.

I bought Dash because of @thedashguy when I first started here on Steemit, but definitely went further in at USD 27. Evolution is what tipped me over into investing more.

I also bought Pivx because it answered the very question I had when I learned about masternodes. I don't really believe masternode consolidation will be a problem, but I don't mind hedging my bets. Pivx is up .10 cents since I got some.

But I still have Steemit to thank for introducing me to the world of crypto. We need an Evolution-like product for this platform to make it the easiest to use crypto social network.

Finally, did you read Charlie Shrem's proposal for a Dash Debit card? I'm suspecting it passes.

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Yes, I also have a proposal in Dash. I am sure Charlie's will pass.

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I am sending out the positive energies that yours gets passed. I think I may need to come to the Dash slack/forum, I'm super impressed with this. I didn't see your proposal in the list, can you tell us what it's about (I imagine writing since you're a badass communicator)?

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Yay, I love the idea and know you'd do it justice! Tried to do my part in shouting you out to Amanda as the person who introduced me to her, good luck with the proposal.

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ok, that is cool! Thanks for mentioning me!

Nice Stella ! I also shocked when dan post about his resignation.

Thank you for this @stellebelle have been hearing about Dash recently and was looking for answers to many of the questions you covered. I also understand all too well the feeling of judgement for being a newbie in the crypto world so will definitely be looking into Dash more closely and perhaps investing a little to see how it grows. Thanks again :)

I don't like Dash. There is too many people -and I am not refering to you, because that's the first time I see a post of this type from you- asking the other people to buy.

I am sad today because Dan is gone. That actually sucks. He was part of the reason I stayed here.

We still have Ned :) (Sorry, I had to say it xD)

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I hear you, but you may want to dig a little deeper into and see for yourself what all the hub bub is about. You don't have to buy any to see that their governance methodology is superior to anything we've seen in crypto yet.

Thanks Leah aka Stellabelle for all your good sharing and helpful info. My Trezor Wallet finally came, a cool thing. ~ljl~

I should have bought more in January

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Well, around March 3 I had a hunch because of Roger Ver's Tweet and Amanda's presentation.....I bought a bunch at $45...................well, we all know what happened.

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I made a small bet on several cryptos and dash paid off big. Now I need a time machine to revise that initial investment haha

I was lucky enough to see the potential in Dash when Amanda posted the very first Dash Detailed video. Sadly I wasn't able to get much then or even now so I haven't gained much in the way of profit as others have, but this is my fav concept so far, no others are close in my opinion.

It's not enough to have the best tech, people need to know about it too and the distribution of the block helps a lot in that respect. Also, when the Bitcoin mining difficulty rises beyond profitability, who's going to confirm the transactions again?

Nice read, I need to learn more about Dash so it's great to see you putting this info out there. I've been focusing so much on Ethereum that the rise of Dash totally took me by surprise... can't believe it's at $100 now! I keep waiting for the price to pullback and give me a good opportunity to buy some, but it just won't oblige. Fun having a new crypto to expand my horizons with!

Very interesting. I know nothing about Dash and Pivx, but I'll check them out after reading your post, especially if they care about privacy / anonymous transactions.
Easy of use is the way to go, for mass adoption. Cryptocurrencies are still for technerds mainly, after many years from Bitcoin creation.

Thanks stella! Very informative post. I'd heard of dash and watched a couple of Amanda's videos but until recently I've not been planning to put a little money in somewhere. This makes our way easier to go read more on it.

Seems like from a currency perspective, STEEM may be better? 3 second transactions, with no transaction fee.

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Dash's governance structure blows all other coins away.

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How is it better than Bitshares?

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Normal people can figure it out. 10% of block reward goes to marketers, developers and anyone who has a good idea to create value for Dash. The community is encouraging and decent. So, far I've not been called a cunt. There are moderators to make sure newbies are not shat upon.

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Maybe the thing that I'm most interested in cryptocurrencies is the governance structure. If it is good, the project can work in the long term.

There are some new blockchains that have a lot better governance systems than Bitcoin, but I'm not sure if there is anything perfect. But I think Bitshares is state of the art, with its reward pool, worker system, and committee for adjusting blockchain parameters.

But of course it's not enough. If the community is toxic, a good governance system doesn't necessarily help it. And vice versa, if the community is good, even a bad governance system can produce good results.