Dash’s Evolution: ‘The One True Bitcoin as Satoshi Envisioned It’?

Home Media DEF Dash’s Evolution: ‘The One True Bitcoin as Satoshi Envisioned It’?
Published on March 11, 2016

In light of Bitcoin Core’s deviance from Bitcoin’s whitepaper, many have wondered if Satoshi’s vision is gone for good. A redditor claims that Dash’s ‘Evolution’ — a forthcoming upgrade — has the right incentives and governance to achieve a “peer to peer electronic cash” system.

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Show links:
Dash Evolution whitepaper: www.dash.org/binaries/evo/DashPaper-v13-v1.pdf
Dash subreddit post: www.reddit.com/r/dashpay/comments/49iizk/dash_is_the_one_true_bitcoin_as_satoshi
‘Dashpay decentralized wallet’ download & others: www.dash.org/evolution

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  1. Raza Daza

    It's just the history of Evan's initial idea of inception and the instamine that a lot of people don't like

  2. Raza Daza

    Amanda… so damn cute as ever… omg

  3. Troy Anonys

    hello

  4. virajelix

    Hmmm… Sounds convincing… I think I will soon try Dash, and let us see… Thanks Amanda!

  5. A

    33:01 Bless you

  6. sunil aggarwal

    Good Job, Amanda. You touch what is outside the bitcoin mainstream. Keep it up even if it may be difficult. You are an inspiration.

  7. Jonathan Ploegman

    Thank you for the video. Just found your channel, enjoying it very much so far. Lots of interesting info on all my favorite digital tokens.

  8. Ok So I see everyone gushing here about this cool new crypto-currency
    and I want to feel the same way. I actually am deciding where to park
    some money. So I literally have watched all your videos to get an idea
    about crypto-currency as I was out of the US for the last 12 years… So
    listening to this white paper I have a few questions. I am seeing ALOT
    of room for gaming this system by the developers and second tier players
    (Master Node Owners). Let me explain.
    I have been in Colombia and Cambodia for the last many years and have
    seen scams that would make your head spin and I am seeing here
    unanswered questions, that I would NEED answers to, in order to invest
    and that are certainly NOT covered by that white paper.

    1) So the Split is 45/45/10 between miners/master nodes/developers

     2) What keeps a developer(s) from owning the majority of the nodes and
    voting for things that benefit himself/themselves ? Who would know if
    he/they did ?
    a) How do YOU know that the developers do NOT own the majority of
    the Master Nodes ? You are pitching their product.
    b) If they DO own Master nodes, do you know what they paid for
    their 1000 DASH ? Were they free ?
    c) If they do (own the majority) it's a formula to print money for
    themselves via VERY low stake price to ROI and payout from being a developer who gets paid anyway.

     3) Obviously the price of Master nodes go up as the price of Dash goes
    up. When Dash was worth $1, I could stake 10 master nodes for $10,000.
    Now it would cost me $50,000. How much would it have cost the earliest
    adopters ? $1000 a $100 ? The Developers $0 ? What's the answer ?

    4) The cost of entry of 1000 DASH is exponentially higher for later
    adopters- as in NOW… There are 3500+ Master Nodes. Owned by who and at
    what price ?
    a) How is it "distributed" and "confidential" if 1,2,3,4 or 5
    friends all own 90% of the Master Nodes ?
    b) Where is the accountability that this is NOT the case or could
    not become the case ?

    5) How does one know that no one person (The King) or a small group (The
    Oligarchy) owns the majority of Master Nodes ? This would make the entire network
    NOT decentralized, right ?

    6) The price of running a master Node is trivial. A Raspberry Pie and $7
    a month electricity

    7) The price of entry is the 1000 dash stake. How many of those 3500
    Master nodes bought in at the get go ? How is it fair for someone to get
    the same payout as me, who would have to spend $5000 to get 1 Master
    Node ? Maybe they only had to stake $500 because the price of Dash was
    $0.50 when they bought their dash. Yet they get paid the same as the guy
    who staked $50,000. WAY WAY unfair and their ROI is in the 1000's of percent higher
     than mine would be each month.

    8) Totally unfair. Early adapters which I assume include/involve the developers,
    their close friends and family etc, can stake the majority of the
    Master Nodes because their price for 1000 DASH was trivial. Technocracy
    at it's worst if it's the case. (Not saying it is)

    9) The ONLY fair way to do this is to make the Proof of Share/Investment
    be a $ amount so all are equal. Make it so that you have to prove that
    you spent $1000 on your DASH. NOT that you have 1000 DASH. When DASH
    goes to $100 that makes it $100,000 to stake a Master Node and get a ROI
    the same as someone who staked the same amount for $100

    10) If there is room for abuse, it will be abused. Has it been ? Where
    is the proof that it hasn't ?

  9. Erik Linde

    Disclaimer: This is not a troll post — I just wanted to point out that it's fairly likely that Dash is a scam, or run by a scammy team. Anyone diving a little deeper into the forums on how Evan Duffield created Dash, including how the "unintentional" instamine happened, can find plenty of indications that this is not an honestly run business / cryptocurrency.

    It will take you a few hours of work to go through all the forum posts, but before you put in some serious money into Dash, at least do yourself the service of reading up on some of its shady past, and then make your own, informed decision.

    A good starting point is to Google "Evan Duffield" + scam.

    I'm a bit surprised the Daily Decrypt team is providing such uncritical coverage of Dash… a bit of a turnoff for an otherwise interesting channel…

  10. Jared Boice

    I love Dash! Been in it since month 1 back in the Dark Coin days. I definitely see Dash exhibiting exponential growth for some time to come

  11. ConsideringPhlebas

    ETH is all the rage right now, but it strikes me as belonging to the minutiae of finance, rather than having every-day usage like Dash. Dash also has relative price stability, which presently can't be said of ETH, and with the latter having now hit the $1 billion market cap, ETH could, potentially, see a fair bit of downside, though I have been quite wrong about the price direction of Ethereum of late.

  12. Philip Greenwood

    Absolutely genius! (One day the story will be told.)

  13. Javier Salcedo

    Nice Whitepaper React!

  14. Roy Wessbecher

    Good reading! It took me 2 sittings to listen through it; learned a few things. I NEVER would have read it myself. Thanks.

  15. Brad

    holy moses, TLAB;DW – too long and boring, didn't watch

  16. Requinix17

    Thanks for taking the time to read this. I had already read the whitepaper, but there is so much information that hearing it again helps me understand some of the concepts. The parts that interest me the most are the DAPI and the masternode "quorum chain". Very groundbreaking stuff, and the DASH network is extremely flexible because of its decentralized governance.

  17. deadal nix

    I was disappointed that there wasn't more technical details. Dash seems to have some cool tech builtin, but do not communicate that much on how it is built, which is kind of a problem.