Bitcoin will eventually die - DASH or other coin will take over
I came late to the Bitcoin community, since I was divorced in 2010 and had some very bad years of my life after that, in April 2013 I finally saw Bitcoin the first time
I don't remember the exactly date, but it was in the middle of april 2013. I read an online news paper article about Bitcoins boom at that time. I instantly wanted to know more about Bitcoin, so I "researched" all about Bitcoin for 2 days without any sleep. I was so excited about this new technology and after 2 days convinced, Bitcoin and Blockchain was the biggest invention of my lifetime and was holding the possibility to change our society.
After discovering Bitcoin, I started to only spend my time on Bitcoin and related technology. I was working as a taxi temp for smaller periods of like 3 months, ones a year or so, but other then that, it was Bitcoin and Blockchain, from morning to night.
I played around with alt coins and tested all kinds of 3th party services. I worked on making a serious Bitcoin Exchange in Denmark, but that didn't go very well, as the banks refused to open an account for my legal company. After the attempt to make a Bitcoin exchange in Denmark a lot of things went wrong in my life, again. I am still trying to clean up the mess from that time. I saw Steemit in august 2016 and decided pretty fast, that I wanted to be part of the Steemit community.
Now I try to blog on Steemit, whenever I feel like I have something interesting to blog about. I recently got interested in Dash, thanks to Amanda B. Johnson's presentation in Anarchapulco. Now I plan to take it slow for awhile, clean up the mess, get organized and at the same time defining the next "thing" I want to spend my time on.
Bitcoin is now in all time high - DASH is also doing very well. I knew the whole time that one day there would come something better then Bitcoin, now I think DASH is a very serious candidate for that.
Steem on!
Lasse Ehlers
Copenhagen, Denmark
I agree.
About a month ago I asked myself a question:
If Bitcoin crashed tomorrow, which alt coin was capable of taking over?
The answer was DASH. So I bought quite a lot when it was trading at $16.
So far I am happy with that investment and I think it can only go up.
I do a lot of trading on Poloniex and so I often chat with other traders on there.
And what I have noticed is that pure Bitcoin enthusiasts hate DASH.
They view it as a traitor to the cause because it wants to be the crypto version of PayPal.
My response to that was - Whats wrong with competing with PayPal?
Paypal can take a day or more for a transaction. DASH takes 10 seconds.
The biggest concerns for Crypto enthusiasts and Bitcoin purests is centralization.
Their dream is for a decentralized economy.
But honestly is Bitcoin that now with most of the miners being in China?
There has been a lot of stone throwing at DASH by disappointed insiders who have resigned and then shouted out their concerns. I have listened to them all and most are non viable.
However, there was one accusation that did concern me of which I am not sure is true or not and I am trying to find out.
The claim is that the majority of nodes are in the hands of just a handful of people.
If that is true then it is of great concern because that means this small group can decide to run the network however they like.
The idea of have so many nodes is so that all node holders have a say and can vote on how the DASH network is run.
But if most of the nodes are in the hands of a few then as a node holder your vote will count for nothing.
You will always be outvoted right?
This is why crytpto purests are shouting "scam". As I say I am looking into it.
However, the conclusion I came to was that, even if this is true, it does not make the DASH network any less efficient or viable. Anyway, what is to stop the major node holders selling off their nodes in the future, thus making the network a genuine decentralised economy.
Just my own thoughts and must not be taken as financial advice.
Well mr @arthuradamson, thank you for your insightful comment. It is interesting concerns you bring up, I am very new to DASH, but think the model of DASH is intelligently build.
For those of us who've been there longer, I can tell you how many times we've heard about an "other coin" that "will take over". Litecoin! So much faster! Duh. Ripple! Instant transactions! Duh. Paycoin! Just what the industry needs! Duh. The list goes on and on.
Yes, that I also have heard over the years.
I think that Bitcoin, because of its name and brand will continue to raise in price, but at the end of the day, DASH is a better coin :)
DASH being a premine scam or not, most master nodes still controlled by the founder or not, you have to understand that more features and supposedly faster performance doesn't mean better. All these come with (by some well-understood) trade-offs, first and foremost concerning security and the game-theoretical foundations.
I only was a DASH fan for a few days, I allready changed my mind and became a Steem fan again, which I made public here:
https://steemit.com/dash/@lasseehlers/you-gotta-love-this-amanda-b-johnson-as-irina-i-am-no-longer-a-dash-fan-steem-is-again-my-favorite-coin
What if someday bitcoin will crash and blockchain will take all bitcoins back, even those that are already in the people's wallet? Is this a possibility or just a stupid question at all?
My opinion is that BTC will remain as the "gold standard" for cryptos that other cryptos value will be compared to. Sure who knows with the ETF etc. Most likely will not make it to daily use, buying coffee and such, but it will stay as a great way to save money/value.
That is a very possible scenario.
If anybody have a larger amount of bitcoin, then please tell me why they wouldn't want to put that in the DASH savings account and earn interests on the blockchain, instead of having it in Bitcoin, that gets, more and more expensive to use?
I don't have an answer to that. That's the beauty. You're free to choose what you do with your assets. One might argue Bitcoin over Dash is that BTC is well established and most see it as "digital gold" already. And Bitcoin getting more expensive to use is result of the stagnation for an update (Segwit, Unlimited....), so that will most likely change in the near future. For better or worse.
Sure the effect that Bitcoin is well-known by a lot of people, will keep Bitcoin popular for awhile, eventually the market will know that dash is a better option. That's what I believe now.
I already chanced my mind about DASH, it was a very fast "fling", only a few days for me, I now believe more in Steem: https://steemit.com/dash/@lasseehlers/you-gotta-love-this-amanda-b-johnson-as-irina-i-am-no-longer-a-dash-fan-steem-is-again-my-favorite-coin