Will mining Dash become profitable again?

[solarguy]

Here is the biggest source of bullying in the entire Dash ecosystem: https://www.reddit.com/user/Basilpop

This toxic jerk perpetually ignores the "Be Nice" instructions from DashForceCore and instead takes sadistic pleasure in bullying newcomers to the Dash sub.

Perfect example of how a tiny little Banhammer is too much power for some people and turns them into monsters. Basilpop's rabid junkyard dog style of thin-skinned moderation makes Dash look terrible.

Ah yes, Basilpop. He does have a rather "Get off my yard." management style. I think he is making a substantial effort to improve. I haven't done any statistical analysis, but I would think the vast majority of his caustic remarks are not directed at newbies, but at people who have already broken the rules on the DashPay subreddit. He has also added a number of other moderators to add more balance and perspective. Your concern for the Dash community is noted and appreciated.

If that is your worst case scenario, I would think we compare rather favorably to other crypto forums.

So, I take it from your post that you would fully support the idea of, "Be nice.", no bullying (ad hominem attacks), respectful discourse should be the rule, not the exception?

 

[Noel Morris]

I am a Noob to Dash. ( got 4 yrs on Litecoin )

I bought a Miner for $10K. ROI in my lifetime impossible at today's difficulty.
Very bad investment on my part - regretting it bitterly now.

What do you do in an eco-system supported by miners, where miners cannot make a living, or even pay off their equipment ?
Does anybody see this as being a problem ?
It is actually more of a problem than you might think. It is an existential threat.
I do not know enough about Dash to make predictions, I just go on fundamentals.
Dash has got some fundamental problems, and I think MN's are key to it.

Sure, all Crypto's are caught up in Bitcoins wake, but once that subsides I think a great many Crypto's are heading for the DoleDrums.
Enthusiasm for Dash will not be very high among Miners.
Enthusiasm for Dash will not be high with clients either, if the know that miners are struggling.
Everybody knows that without Miners you have no Crypto.
If the Miners sell off their holdings and go on strike, they can bring the pack of cards down with it.

Any thoughts anyone ?

The main reason why we need Dash fork is to sustain existing miners and newcomers to mined profitable coin for the new introduce X11 coin.

Right now Dash communities slowly dying support and slowly staying away from mining because is not profitable. Expensive ASIC D3, equipments bought couple months ago are now obsolete. We need new coin fork so we can utilize our obsolete equipments again, We need to bring back the support of miners otherwise we're going to be left in the dust by other cryptocurrencies and because we do not act and care about miners and community that support the network, we can innovate all day long but we forgot our supporters, then we are making a big mistake in progressing, eventually we are devaluing the DASH Coin. We must act fast before Dash supporters go elsewhere, profitability is the key to retain loyal supporters and attract newcomers.

 

[solarguy]

The main reason why we need Dash fork is to sustain existing miners and newcomers to mined profitable coin for the new introduce X11 coin.

Right now Dash communities slowly dying support and slowly staying away from mining because is not profitable. Expensive ASIC D3, equipments bought couple months ago are now obsolete. We need new coin fork so we can utilize our obsolete equipments again, We need to bring back the support of miners otherwise we're going to be left in the dust by other cryptocurrencies and because we do not act and care about miners and community that support the network, we can innovate all day long but we forgot our supporters, then we are making a big mistake in progressing, eventually we are devaluing the DASH Coin. We must act fast before Dash supporters go elsewhere, profitability is the key to retain loyal supporters and attract newcomers.

I sympathize with your plight, but there is little or nothing the Dash community can do to change that. But let's say you find a way to fork Dash, or somehow make Dash more profitable, or find another x-11 coin to mine.

What is your plan when that one becomes unprofitable to mine at home again? Because that will happen. All crypto is risky. Never invest more than you can afford to lose. We have made a valiant attempt to warn people. Did you read the Dash white paper? Because this exact event was predicted to happen. Why are you surprised that it is now happening?

Hobbyist mining is now largely impractical unless you hold the coins and wait for the price to rise. That doesn't pay your bills today though.
But mining is not dying out, it's going large scale/industrial/wholesale, just as predicted in the white paper. Here's the hash rate, not dropping in any meaningful way;

https://bitinfocharts.com/comparison/dash-hashrate.html#1y

 

[Checkerama]

Hobbyist mining is now largely impractical unless you hold the coins and wait for the price to rise. That doesn't pay your bills today though.
But mining is not dying out, it's going large scale/industrial/wholesale, just as predicted in the white paper. Here's the hash rate, not dropping in any meaningful way;

https://bitinfocharts.com/comparison/dash-hashrate.html#1y

That's because in the speedy dump everyone's trying to do with their D3s, others are plugging it into their outlets at home at 2/3 of the price bitcoin was offering it for. It is not a representation of future hash rate improvement but rather of the current D3 shipment's aftermath.

Even MUE is more profitable to mine than this dump

 

[solarguy]

That's because in the speedy dump everyone's trying to do with their D3s, others are plugging it into their outlets at home at 2/3 of the price bitcoin was offering it for. It is not a representation of future hash rate improvement but rather of the current D3 shipment's aftermath.

Even MUE is more profitable to mine than this dump

Did you not read the white paper?

 

[Checkerama]

Did you not read the white paper?

You do realize the whitepaper isn't a telltale all right? Just because the whitepaper says something is going to happen doesnt necessarily mean it is that way.

But please, keep convincing yourself that 3 months worth of ASICs suddenly created a booming mining industry under DASH LOL.

 

[solarguy]

You do realize the whitepaper isn't a telltale all right? Just because the whitepaper says something is going to happen doesnt necessarily mean it is that way.

But please, keep convincing yourself that 3 months worth of ASICs suddenly created a booming mining industry under DASH LOL.

Sure, Evan won't be right about everything. But it would seem even more foolish to ignore the predictions of the guy who designed the currency. And ignore the cycle that has happened to virtually every cryptocurrency that has ever been mined. Mining difficulty goes up.

Have you ever seen the warning, "Cryptocurrency is risky. Don't invest any more money into cryptocurrency than you can afford to lose."

Again, I am sympathetic to people who jumped in at the wrong time and are now finding it difficult to recover their investment. But, didn't they have a plan for when difficulty would rise to the point of unprofitability? Because that will happen every time, over and over again, with every token that is mineable and has variable difficulty.

And hey, so long as the hash rate is above some necessary minimum to secure the network, and Dash continues to roll out new features and improvements, I remain convinced that the Dash ecosystem is doing well.

 

[demo]

Again, I am sympathetic to people who jumped in at the wrong time and are now finding it difficult to recover their investment.

You are a liar and an hypocrit.

The "wrong time" was deliberately DESIGNED by Satoshi (and Evan)! You deliberately designed DASH, in order all the money to go to the old generations, and the new generations get nothing.

This is the reason you are a coin of the past, this is the reason the new generations will never accept this imposed time-space asymmetry, unless you turn them blind, with @amanda_b_johnson , @Tron and the rest advertisers.
This is where https://duniter.org/en/ (and whatever else time-space symmectric cryptocurrency) stands. This is where the Universal Dividend and the basic income stands, as a way to fix this initial time-space asymmetry bug.

 

[Noel Morris]

The main reason why we need Dash fork is to sustain existing miners and newcomers to mined profitable coin for the new introduce X11 coin.

Right now Dash communities slowly dying support and slowly staying away from mining because is not profitable. Expensive ASIC D3, equipments bought couple months ago are now obsolete. We need new coin fork so we can utilize our obsolete equipments again, We need to bring back the support of miners otherwise we're going to be left in the dust by other cryptocurrencies and because we do not act and care about miners and community that support the network, we can innovate all day long but we forgot our supporters, then we are making a big mistake in progressing, eventually we are devaluing the DASH Coin. We must act fast before Dash supporters go elsewhere, profitability is the key to retain loyal supporters and attract newcomers.

I sympathize with your plight, but there is little or nothing the Dash community can do to change that. But let's say you find a way to fork Dash, or somehow make Dash more profitable, or find another x-11 coin to mine.

What is your plan when that one becomes unprofitable to mine at home again? Because that will happen. All crypto is risky. Never invest more than you can afford to lose. We have made a valiant attempt to warn people. Did you read the Dash white paper? Because this exact event was predicted to happen. Why are you surprised that it is now happening?

Hobbyist mining is now largely impractical unless you hold the coins and wait for the price to rise. That doesn't pay your bills today though.
But mining is not dying out, it's going large scale/industrial/wholesale, just as predicted in the white paper. Here's the hash rate, not dropping in any meaningful way;

The idea is expanding mining Dash coin profitability, that way at least get a return from miners investment. after all, they doing the work securing/sustaining the network. what would happen no one is mining the Dash coin?

 

[Noel Morris]

The idea is expanding mining Dash coin profitability, that way at least get a return from miners investment. after all, they doing the work securing/sustaining the network. what would happen no one is mining the Dash coin?

 

[Checkerama]

Sure, Evan won't be right about everything. But it would seem even more foolish to ignore the predictions of the guy who designed the currency. And ignore the cycle that has happened to virtually every cryptocurrency that has ever been mined. Mining difficulty goes up.

Have you ever seen the warning, "Cryptocurrency is risky. Don't invest any more money into cryptocurrency than you can afford to lose."

Again, I am sympathetic to people who jumped in at the wrong time and are now finding it difficult to recover their investment. But, didn't they have a plan for when difficulty would rise to the point of unprofitability? Because that will happen every time, over and over again, with every token that is mineable and has variable difficulty.

And hey, so long as the hash rate is above some necessary minimum to secure the network, and Dash continues to roll out new features and improvements, I remain convinced that the Dash ecosystem is doing well.

You're allowing your pity to cloud your judgement on what exactly is being complained about here - there is no DASH mining ecosystem without DASH miners, and the release of these new miners only proves to show the fragility and hierarchical structure that a DASH investment is (there is no value in trading on this network other than to own a MN) .

Sure, everyone knew it would go up, but to think that your network can't even handle 3 months worth of ASICs without destroying all credible profitability one might have without having to completely eclipse Bitcoin in price gains is quite ridiculous, especially since the network only dominates not even a percentage of bitcoin's comparable hashrates.

DASH hasn't rolled out a new development or anything to be excited about in years. The Zimbabwe proposal is just hype news and serves no merit to the cryptocurrency - partnered with a no-name company to make a solution revolving around technology and electricity in a place where the technology and the electricity isn't even covering half of the population. So lets focus on the real developments actually being done by DASH - which are none except 2MB blocks which serve, again, no purpose in an ecosystem where no one is trading the cryptocurrency but rather storing it for a masternode (because, again, its the ONLY worthwhile investment in DASH).

And if you think 1 PH/s is enough to secure a network? LOL.

 

[Checkerama]

The idea is expanding mining Dash coin profitability, that way at least get a return from miners investment. after all, they doing the work securing/sustaining the network. what would happen no one is mining the Dash coin?

MNOs wont care if its only one person mining the crypto on their computers as long as they get the fat profits off holding 1000 DASH out of the network and more people end up trading it. They don't understand that the current model does not promote any incentive to join the network other than their transactional promises which solves 0 problems that other currencies dont already do better; you want private trans? Use monero. You want quick ones? Use LTC/BCC, and if you want to argue that DASH does this better, you might want to ask why all stores that accept DASH also accept one of these 2 as well.

DASH price still crashing (from a high of 780 to now 630) after they realized their "breaking news" is just hot air and there has been no incentives presented to trade or support the network yet whatsoever. All you have to do is look at the volume 24h for each day in a 1 month period - returning back to pre-pump levels by koreans and right now inflated due to everyone dumping it. Genius features, trash community and economics. Anyone can add a software to a crypto, and Bitcoin's future reveals will prove just that.

 

[Noel Morris]

Agreed with Chekerama! no miners supporting the system Dash will die out, Look at what happens right now with XRP is going no where they have the most propaganda in the world but they are dead in the water. Becuase their crypto is not minable. no support from miners community. We need miners they are part of a cryto healthy ecosystem.

 

[demo]

You are talking to ears that do not listen. MNOs are both stupid and deaf.

Matthew 13:13 "Though seeing, they do not see; though hearing, they do not hear or understand."

I still wonder. Why all you miners dont form a community and hard fork Dash? What prevents you to do it?

I ll tell you what. All miners are a bunch of idiots, and have no sense of community. Thats why your fate is to die, like the wild beasts. Change your attitude, form a miners community, demand your voting rights in Dash community. This is your only way to survive.

 

[Checkerama]

You are talking to ears who do not listen. MNOs are both stupid and deaf.

I still wonder. Why all you miners dont form a community and hard fork Dash? What prevents you to do it?

I ll tell you what. All miners are a bunch of idiots, and have no sense of community. Thats why your fate is to die, like the wild beasts. Change your attitude, form a miners community, demand your voting rights. This is your only way to survive.

It's much easier to simply support a project where miners do get a voice rather than go through a hard fork of a current network whose underpinning is supposed to be its governance. AKA Bitcoin, and it is being very well managed, obviously.

 

[Noel Morris]

Look back years in history back when people mining for actual gold people from all over the world get together, travel far away just to hunt for gold, this pretty similar what we're doing now, we actually doing the same thing mining for digital gold hunting for it, people get together and when nothing to mine they are all going away. BTC they dominate crypto industry not because they are the pioneer but because I think they have most lucrative mining payment system in the crypto world. Miners love them!

 

[demo]

It's much easier to simply support a project where miners do get a voice rather than go through a hard fork of a current network whose underpinning is supposed to be its governance.

Of course it is. But stupids and spies bought masternodes in order to destroy Dash's governance, in favor of bitcoin and/or in favor of fiat currency.

 

[Checkerama]

Of course it is. But stupids and spies bought masternodes in order to destroy Dash's governance, in favor of bitcoin and/or in favor of fiat currency.

As long as they keep getting paid ridiculous ROIs for running one AWS server, they will never leave either. Aristocracy governance full of early in-buyers.

 

[demo]

As long as they keep getting paid ridiculous ROIs for running one AWS server, they will never leave either. Aristocracy.

So whats the solution, other than hard fork?
The miners are always online, so they can easily support a parallel forked alternative Dash network.
If all miners leave dash, then the MNOs will beg them to return.
If this battle is won in favor of the miners, then the miners will impose their terms and conditions in Dash community. But I am not optimistic , because being an idiot is a main characteristic of the character of the miners.

 

[Checkerama]

So whats the solution, other than hard fork?
The miners are always online, so they can easily support a parallel forked alternative network.
If all miners leave dash, then the MNOs will beg them to return.
If this battle is won in favor of the miners, then the miners will impose their terms and conditions in Dash community.

I'm starting to understand why you call miners idiots then lol - can't imagine any of them trying to start a new cryptocurrency before they just join another network.