demo
Well-known member
Could you please tell us what part of the code that refers to mining would you like to vote the number?
Will mining Dash become profitable again?
- Thread starter xoibsurferx
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Could you please tell us what part of the code that refers to mining would you like to vote the number?
Dandy
Active member
I got into Dash because I like how it works now.
So yes, I would stay in the "old" Dash.
Checkerama
Active member
The undercirculated argument is economics 101 - there is no incentive to spend and circulate the currency at any point - regardless of its divisiveness which, by the way, is why the US has a hard on for being the only currency to trade oil with around the world.
There is only incentive to buy, not sell, and because of that it doesnt create a two-way venue for DASH to be properly vetted as a currency and its usefulness to investors. It's just something anyone knowing what deflationary currencies do would think, and I understand that it can be used with any cryptocurrency out there, but the systems you currently have now make it all the more obvious. At least speculative investors (which all currency traders are) have a slingshot of hope for everyone to win if they invest in more liquid markets.
I have no doubts that as soon as this over-exuberance is over with Bitcoin, everyone will hedge it to DASH just as they have done many times before, and the price point may make this a profitable venture, but at the same time, I'm thinking in terms of long term sustainability. All that's required to shoot down this is another ASIC dump in the market. The way that difficulty is calculated is just far too quick in comparison to other coins. If DASH had as many miners as Bitcoin did, it would need to be worth ~$60,000(x4 Bitcoin's price) to attract a mining community as dominant as Bitcoin.
demo
Well-known member
If the miners, the stake holders and the new generation leaves, then Dash will not work as it works now. It will be the hanging garden!
Checkerama
Active member
When I created the model, it was based off of a linear formula using every day of DASH difficulty increase/decrease coupled with its hashrate increase (information available on coinmarketcap) to determine my coefficient. No code. But if the developers want a VERY specific solution that involves changing the part of the code that governs difficulty, sure I'll go find it and give them a more proper code
Dandy
Active member
Personally, I think Bitcoin has too many miners right now. Bitcoin mining uses as much electricity as a small sized european country.
We don't really need more hashing power at the moment.
Also, any ASIC dump would not work, as nobody would buy them with the current profitability.
Why would the stake holders leave if the Dash value stays strong?
If 90% of miners would leave, Dash would still function normally, so that's not really an issue.
demo
Well-known member
How can Dash value remain strong, if there is no community to support it?
And why the stake holders and the fresh Dash generation to remain in old Dash, being the slaves of the MNOs, instead of going to the new Dash, get voting rights and become free?
Who prefers slavery from freedom?
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Checkerama
Active member
They would when the DASH price increases once more to profitable levels. And yeah, maybe Bitcoin miners has TOO many miners... that could be a counterpoint to attract more people into the network, but it also guarantees the decentralized distribution of the network - the whole purpose of cryptocurrencies. I think we can pitch the environmental position when that becomes an underpinning issue which, currently, it has not. Maybe thats just cause everyones milking the profits.
Dandy
Active member
They will stay if they see a healthy development and rising of the value of their holdings.
Why would they want to be poor? Also, they are already free. Free to go to some other cryptocurrency if they like it better.
Dash is not a democracy. It's a corporation.
Checkerama
Active member
Now you're getting to the disillusionment of a governance structure has attracted all these supporters but ultimately fucks them over
. Exactly what we're saying lol.And isn't the point of being an MNO is that you see future prospect for the currency, and increased interest into joining it? Theoretically, one would dump the MNO if the support and tech go somewhere else, as they will attract the required volumes that made the MNO option attractive to begin with.
Checkerama
Active member
No, youre not in because of the future of DASH, youre in because of the future of holding an MNO. The future of DASH will, at best, show short term promise with the introduction of DASH evolution and then slowly die as the lightning network catches up to speed an surpasses it. Your short term profits is what keeps you from dumping the 1000 DASH, specifically, the 3000 a month you earn for about maybe 50 dollars of maintenance into the network.
The only good investment on a DASH network is a masternode, it would seem. No holders, no business, no mining community can change that, and it is precisely for this reason that DASH will die. It isnt until everyone is holding more than 70% of the currency in MNOs that you will realize how dumb the whole system is.
demo
Well-known member
But do you think Dash is perfect?
If not, then is it a wise tactic to wait for this perfect coin to arrive from the sky.
Isnt better to help built in it?
If you think it's such a sweethart deal for the Masternodes, why don't you buy a masternode, or a share of a masternode. You too could get in on the crazy good deal.
And if miners are abandoning Dash, why is the hash rate staying so high?
Noel Morris
New member
Does anybody here know where I can solo mine Dash coin? I love to take my chances rather than get paid 4 or negative return from the pool.
Perhaps software I can buy for solo mining Dash?
Perhaps software I can buy for solo mining Dash?
Checkerama
Active member
I've already detailed this, but theres no way I'm buying into an artificially inflated cryptocurrency with no promise of increased traffic or interested and meaningful miners/transactors on the network. I would buy into CannabisCoin before I bought 1 DASH.
demo
Well-known member
That is correct. MNOs are short term investors who only care about their ROI. They do not really care about the Dash community, thats why their governance sucks.
Why MNOs earn 3000 a month for about 50 dollars of network maintenance. This is yet another number that should be voted.
We should built a formula for the ROI of the MNOs, based on the average cost of network maintenance. Why miners have a (difficulty) formula, while MNOs ROI is difficulty free?
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Dandy
Active member
Why would I risk my investment by conciously making bad decisions for the future of the network?
It seems to me that you are the one that wanted to make a quick profit, because you don't really seem to believe in Dash.
Personally, I don't like lightning networks. It involves third parties and settles transactions outside of the main blockchain.
I get how it can be useful for micro payments, but we can implement this in the MNO network, no need for outside players.
No, Dash is not perfect. But I think it's on the right path to become very good and as an MNO I get to help build it.
Checkerama
Active member
People dumping their ASICs on ebay, so might as well put their investment into SOME use, even if they break even on electricity (which is what they're all currently doing)
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