Welcome to the Dash Forum!

Please sign up to discuss the most innovative cryptocurrency!

Let's make SWOT Analysis for Dash

Discussion in 'General Discussion' started by bhkien, Jun 4, 2016.

Tags:
  1. bhkien

    bhkien Active Member

    Joined:
    Mar 31, 2014
    Messages:
    454
    Likes Received:
    282
    Trophy Points:
    133
    Better understanding of Strength and Weakness, Opportunity and Threats, will help us contribute to the success of DASH

    Let's make SWOT analysis for Dash. I may have some incorrect points in the initial version, so please correct me and continue to add more points to make it as detail as possible.

    Strength

    - Talented developers
    - Visionary leader
    - Good vision (digital cash)
    - Professional process for project management
    - Professional project managers
    - Highly commitment core team
    - Able vote to resolve conflicts
    - Incentivized full nodes
    - Has bigger and bigger development funding
    - Very fast transactions with Instant send
    - Private send for privacy transactions
    - High speed network of masternode servers
    - Redundant masternode storage capacity, and bandwidth
    - Many Long-term Dash keepers
    - Many people who have more than 1000 Dash
    - More and more value added services and products
    - Many kinds of wallet and available on many platforms (Windows, Mac, Linux, Raspberry, Android)
    - Price of Dash is very stable
    - Masternode has good income
    - Has many exchanges
    - Has Dash and Drink vending machine
    - Blockchain still small

    Weakness

    - Mis-understanding of instamine
    - Not as many users as other competition cryptocurrencies
    - Narrow coin distribution (mainly belong to masternode owners)
    - Slow and complicate private send
    - Complicated instant send and private send integration
    - Not easy to explain about instant send and private send and masternode
    - Less users who has small amount of Dash compare with other coins
    - Not easy to try Dash (need to buy Dash but hardly to mine it)
    - Small liquidity compare with its market cap position
    - Because Dash has fewer users than other coins, it has fewer people talk about it and evangelize it.
    - Common name and hardly to SEO

    Opportunity

    - Attract more developers come and work in core team and projects
    - More writers, marketers, PR and other specialists
    - Integrate instant send and private send to Exchanges
    - Integrate instant send and private send to e-commerce websites
    - Better distribution by letting normal user mining Dash with their laptop (by changing mining algorithm)
    - Better distribution and easier to use by Dash Evolution (long term)
    - Implement of Proof of Labor and crowd funding
    - Fiat gateway for more adoptions
    - Because of very fast transaction if using instant send, Dash can be used as main currency for trading at many Exchanges
    - Have more enthusiasts if have easier for entry users
    - Have more evangelists
    - Can integrate with POS
    - Can integrate with vending machine
    - Integrate with IoT devices
    - Promote Dash through conferences
    - Books about Dash and its technology

    Threats

    - Success of Ethereum and its derives
    - Bitcoin's improvements
    - Collapse of Bitcoin
    - Quantum computer
    - Apple continue to reject Dash wallets
    - Fake wallets
    - Community lose focus
    - The core team has wrong priority
    - Developers leave to follow other prospect projects
    - Lose evangelists
    - Evan leaves the project
    - Other core team member quit
    - Hacker robs Evan's wallet or other core team member's wallets
    - Hacker successfully hacked Poloniex
    - Trollers continue
    - Problems of 51% hashing
     
    #1 bhkien, Jun 4, 2016
    Last edited: Jun 4, 2016
    • Like Like x 6
    • Agree Agree x 1
    • Winner Winner x 1
    • Useful Useful x 1
  2. rustycase

    rustycase Active Member

    Joined:
    Apr 19, 2016
    Messages:
    497
    Likes Received:
    117
    Trophy Points:
    113
    This is a good idea, imo !
    It amounts to an all-in-one discussion thread ! :)

    I suppose I should offer a quickie re-write, to be helpful...
    ***Better understanding of Strength and Weakness, Opportunity and Threats, will help us contribute to the success of DASH***

    Best
    rc
     
    • Like Like x 2
  3. bhkien

    bhkien Active Member

    Joined:
    Mar 31, 2014
    Messages:
    454
    Likes Received:
    282
    Trophy Points:
    133
    Thanks
     
  4. Ryan Taylor

    Ryan Taylor Well-known Member
    Dash Core Team Foundation Member

    Joined:
    Jul 3, 2014
    Messages:
    539
    Likes Received:
    1,631
    Trophy Points:
    263
    I think this is a great idea. I also think that you should look through your list again with a careful eye for the inclusion of product SWOT vs. Dash network SWOT. Those two should not be conflated in a proper SWOT analysis. Product weaknesses are obviously much more easily addressed than "company" weaknesses. Likewise, product strengths may not truly differentiate the network, or could be easily copied. If that is the case, they are not "company" strengths. Only product differences that create truly competitive advantages should be included in a SWOT, and competitive advantages are exceedingly rare in business... it is a VERY high bar to consider something a competitive advantage. Bitcoin enjoys one in the form of network effects and their surrounding ecosystem.

    A well-done SWOT analysis makes this distinction and hones in on the true competitive strengths of the company, or in our case, the Dash network. Focus on the things that are difficult to replicate or overcome. You cannot simply launch a new coin today that is a replica of Dash and gain our market cap and budget immediately, nor can you replicate the 2+ years of successful execution. That is a real strength of our network at this point.

    When you get down into the opportunities section, avoid things like "reach out to more developers". That is an action you take in response to an opportunity, not an opportunity itself. An opportunity would be "we enjoy a strong reputation among bitcoin developers, who are growing weary of corporate / MIT funding and influence, which might allow us to attract / steal talent." The action you would take would be "reach out to disaffected Bitcoin developers, such as x, y, and z to offer them a role and compensation", but that is a consequence of a good SWOT, not included in it.

    You also need to be more specific in many areas... under "Threats" you have "Bitcoin's improvements". What Bitcoin improvements are threatening us, exactly? Are they implementing InstantSend or something? Threats need to be real and tangible. A threat needs to be something that is an external threat to your success... something like governments threatening our business partners because they don't like the privacy features of the coin. I would also exclude some of these "threats" that are simply "risks" in my book. Another example... Lose evangelists? What is the OUTSIDE threat there? What is the threat that will cause us to lose them? The threats should be specific enough to allow mitigation strategies to be developed, otherwise the SWOT analysis doesn't yield anything concrete for you to go do, which is the whole point of doing it. I don't see what action I could take to address "lose evangelists". However, if this were rephrased as "Forum trolls cause discord in the community over issue 'x' that causes us to lose many of our key evangelists". Now I know what to go do... develop a strategy to deal with the threat the trolls represent. Maybe I can organize a WebEx call to align our key evangelists on the issue. See the difference?

    The SWOT analysis is a great tool and this is a great suggestion. It's also great initiative on your part. If you'd like to push this further into something useful, I suggest you learn more about how to craft an effective SWOT analysis that results in actionable outputs, and take another stab at it. In general, you have WAY too many things listed here, most of which wouldn't qualify as a strength, weakness, opportunity, or threat. I would really focus on distilling the truly important items in each category and making sure they can feed into a strategy (e.g., they are specific and actionable).
     
    • Like Like x 2
    • Agree Agree x 2
  5. MangledBlue

    MangledBlue Well-known Member

    Joined:
    Jun 28, 2014
    Messages:
    1,246
    Likes Received:
    678
    Trophy Points:
    183
    I still need to go back and read all of this: SWOT
    ----------------------------------------------------------------
    SWOT a·nal·y·sis
    ˈswäd əˌnaləsəs/
    noun
    1. a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.
    ----------------------------------------------------------------

    I really like the idea.

    Briefly reviewing the OP info, can't say I agree with some of the entries....... but
    - I'll have to review all the info when I get some time.

    @bhkien Defiantly a great place to start
    - Good you :-D




    P.S.: And, I learned a new word - lol
     
    • Like Like x 3
  6. MangledBlue

    MangledBlue Well-known Member

    Joined:
    Jun 28, 2014
    Messages:
    1,246
    Likes Received:
    678
    Trophy Points:
    183
    \

    My reply is posted above in CAPS






    :p
     
  7. MangledBlue

    MangledBlue Well-known Member

    Joined:
    Jun 28, 2014
    Messages:
    1,246
    Likes Received:
    678
    Trophy Points:
    183

    Read this later today :p
     
  8. Solarminer

    Solarminer Well-known Member

    Joined:
    Apr 4, 2015
    Messages:
    762
    Likes Received:
    921
    Trophy Points:
    163
    @kot. I would like your opinion on this. I could see this as a way to set goals to improve certain aspects of Dash. Probably a list isn't the most effective way to do this, but I am sure you have tools that you have used that could make this work better. Our goal should be to improve on our weaknesses while also understanding the competition. Can you think of options on doing this effectively in a quantitative way?
     
    • Trolling Trolling x 1
  9. kot

    kot Administrator
    Core Developer Dash Core Team Foundation Member Dash Support Group Masternode Owner/Operator Moderator

    Joined:
    Mar 17, 2015
    Messages:
    687
    Likes Received:
    1,847
    Trophy Points:
    263
    Hi @bhkien
    Thanks for the effort - good start for the analysis. I would strongly take into consideration feedback from @babygiraffe and re-work the list.
    My agenda if full till Friday but starting from Friday I would be more than happy to join the work on this and share my input.

    @Solarminer
    Do you want to join? You have an interesting perspective on the project and your input might be very valuable.
     
  10. shalins

    shalins New Member

    Joined:
    Jul 13, 2018
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    0
    I will create one in a minute
     
  11. Iñaki

    Iñaki Member

    Joined:
    Oct 22, 2017
    Messages:
    50
    Likes Received:
    13
    Trophy Points:
    48
    This is a great idea. To successfully bring Dash to market such analysis should be central to the strategy. I hope we can get great insights from many parts of the community.

    My take:

    Strengths:

    Most established masternodecoin. (More possible things to build on 2 layers of infrastructure compared to just 1)
    Most established treasurycoin. (Purchasing power advantage compared to competitors)
    Long term sustainable funding.
    Versatile and well funded core team.
    Core led by payments professionals.
    Core is thinking outside of the CC box.
    Clear and working governance structure.
    Great and growing BizDev teams.
    Able to pay for marketing.
    Able to pay to get quicker integrations.
    Evolution as a potential netscape moment of cryptocurrency coming.
    Focused on dominating niche markets at the beginning.
    Constantly innovating.


    Weaknesses:


    Still catching up to competitors.
    No way to hold proposal owners accountable.
    Very weak presence in Asia(esp. japan with the ban).
    Low marketcap ranking -> lower visibility.
    Instant send is not chainable.
    Instant send is not demanded in the CC payments industry.
    Private send takes quite long.
    Only sender privacy.
    "Official" mobile wallets don't have good UX.
    No huge ICO money warchest.
    Non masternodeowners are second class citizens in Dash -> Emotional barrier to entry.
    Instamine has image consequences.
    Media views Dash as privacy-only CC.
    Private send is viewed as inferior privacy.
    Many masternodeowners are voting based on sympathy and emotions instead of rational considerations(e.g. Huobi, Vaultoro).
    Partial media blackout.
    Not many non core devs working on Dash compared to other projects.
    Many imo badly structured outreach proposals continue to be funded without improving.
    Core team takes ages to release important documents(e.g marketing findings, roadmap).


    Opportunities:

    Market potential in Asia.
    BizDev teams can be built out.
    Make everyone first class citizen with masternodeshares.
    Can harden 51% resistance.
    Can get more interesting for third party devs with Evo and SDK.
    Can implement tokenisation capabilities.
    Can try to get "frictiontoken" projects to migrate to dash


    Threats:

    Treasuryfunds are used wastefully and inefficient.
    Higher MC coin implements treasury and/or masternodes and has a financial advantage.
    Regulatory issues because of PrivateSend.
    Neglect of store of value or unit of account properties due to focus on being only a payments system (while in fact Dash is an asset).
    Must drop important dash funded organisations due to volatility.
    Innovations might introduce dangers or bugs at the blockchain level.
     
    #11 Iñaki, Jul 14, 2018
    Last edited: Jul 14, 2018
    • Winner Winner x 1
  12. mage00000

    mage00000 Member

    Joined:
    Oct 27, 2017
    Messages:
    48
    Likes Received:
    5
    Trophy Points:
    48
    Dash Address:
    Xpfu8DXjeG7i6bsWcm25mXb27T2e7t3Su8
    Let's have a look :eek:

    Strength


    - Talented developers
    - Visionary leader
    - Good vision (digital cash)
    - Professional process for project management
    - Professional project managers
    - Highly commitment core team
    - Able vote to resolve conflicts
    - Incentivized full nodes

    >> how is that a strength?
    - Has bigger and bigger development funding
    >> Not necessarily. That depends upon the market price of Dash. Last Dec Dash had a lot more to spend than it has today.
    - Very fast transactions with Instant send
    - Private send for privacy transactions
    - High speed network of masternode servers

    >> Although I do not know the technical implementation of this network layer, I think this is a valid point. But I also think it can be utilized much more than it is today, for example to mitigate the thread of a 51% attack and I can also see scaling solutions utilizing this layer.
    - Redundant masternode storage capacity, and bandwidth
    >> see my above comment
    - Many Long-term Dash keepers
    >> That is not a strength. Many Dash users would be a strength. And I think there are many Dash users. The problem is that Dash usage expansion focusses on 'troubled' countries and those users will not promote Dash outside of their direct environment.
    - Many people who have more than 1000 Dash
    >> how is that a strength?

    - More and more value added services and products
    - Many kinds of wallet and available on many platforms (Windows, Mac, Linux, Raspberry, Android)
    - Price of Dash is very stable
    >> That is a matter of perspective. Compared to dinosaur money it certainly isn't. And I don't expect it to get stable any time soon.

    - Masternode has good income
    >> Good for them, but good for Dash? How? It did incentivize Neptune Dash to build MN's and thus attract investors to buy Dash.

    - Has many exchanges
    - Has Dash and Drink vending machine
    >> I have never seen one, so I do not see this as a strong point.

    - Blockchain still small
    >> So? It has growth potential? Is that what you want to say? It won't remain small.


    Weakness

    - Mis-understanding of instamine
    >> This was true up until somewhere last year. I haven't heard much about it anymore. But then again I see a huge media blackout regarding Dash especially on youtube.

    - Not as many users as other competition cryptocurrencies
    >> LOL! Which ones? Cardano, IOTA? Where can you buy a coffee with Cardano? I think you mean not as many speculators investing in Dash. Look at the facts. IOTA isn't even working and has a higher market cap than Dash which actually does work and is used.

    - Narrow coin distribution (mainly belong to masternode owners)
    >> Partially true. About half is locked up in a few thousand MN's. The other half however has a very wide distribution.

    - Slow and complicate private send
    - Complicated instant send and private send integration
    >> ? Instant send is just a check box in my wallet...

    - Not easy to explain about instant send and private send and masternode
    >> That is a very personal issue. There are video's out there that explain it very clearly. Amanda B....

    - Less users who has small amount of Dash compare with other coins
    >> I don't think that is true. Where did you get your data from? What other coins are you talking about?

    - Not easy to try Dash (need to buy Dash but hardly to mine it)
    >> Very easy for me. In NL we have https://anycoindirect.eu/ where you can convert your EUR directly into Dash. In TH we have https://bx.in.th where you can convert your THB directly into Dash. More businesses accepting Dash would surely help, though. Ebay, Amazon...

    - Small liquidity compare with its market cap position
    >> That is a matter of opinion. The Market Cap position is a very deceptive thing (as I mentioned before).

    - Because Dash has fewer users than other coins, it has fewer people talk about it and evangelize it.
    >> It does not have fewer users, but it certainly lacks evangelists.

    - Common name and hardly to SEO
    >> I do not understand this point.


    Opportunity

    - Attract more developers come and work in core team and projects
    >> this is not an opportunity. it is a possibility. I think Ryan made a valid point about this one. (and some others)

    - More writers, marketers, PR and other specialists
    - Integrate instant send and private send to Exchanges
    - Integrate instant send and private send to e-commerce websites
    - Better distribution by letting normal user mining Dash with their laptop (by changing mining algorithm)
    - Better distribution and easier to use by Dash Evolution (long term)
    - Implement of Proof of Labor and crowd funding
    >> That makes me think of pregnancy... ;) I know Proof of Work. I guess I'm just unfamiliar with this term. I'll look it up later.

    - Fiat gateway for more adoptions
    >> there are fiat gateways as I already mentioned.

    - Because of very fast transaction if using instant send, Dash can be used as main currency for trading at many Exchanges
    - Have more enthusiasts if have easier for entry users
    - Have more evangelists
    - Can integrate with POS
    >> Dash is integrated in a number of POS systems

    - Can integrate with vending machine
    - Integrate with IoT devices
    - Promote Dash through conferences
    >> Dash is promoted at many conferences.

    - Books about Dash and its technology
    >> See Ryans comment on most of these. I think many of these points are based on a limited knowledge about the Dash project.


    Threats

    - Success of Ethereum and its derives
    >> How is that a threat? Ethereum is an entirely different, almost unrelated project.

    - Bitcoin's improvements
    >> BTC has a loooong way to go before it can even remotely be considered a threat. In fact I strongly believe BTC will fail eventually as will LN.

    - Collapse of Bitcoin
    >> I think that will happen, but not anytime soon. Dash is well positioned to take its place. Its original place; a peer to peer cash system.

    - Quantum computer
    >> They will never be a threat and especially not to the X11 algorithm. It would take too much typing here to explain but I am sure I have a better than average understanding of the subject and I firmly believe this to be true.

    - Apple continue to reject Dash wallets
    - Fake wallets
    - Community lose focus
    - The core team has wrong priority
    - Developers leave to follow other prospect projects
    - Lose evangelists
    - Evan leaves the project
    - Other core team member quit
    - Hacker robs Evan's wallet or other core team member's wallets
    >> how is that a threat? Why specifically these wallets?

    - Hacker successfully hacked Poloniex
    >> how is that a threat? Why specifically this exchange?

    - Trollers continue
    >> They will. So? How is that a threat?

    - Problems of 51% hashing
    >> Do the math. (as our beloveth liberty-Mason would say)

    I think this is a good initiative, don't get me wrong, but I also think this list needs a lot of tweaking before it becomes a valuable tool that we can use to advance the project.
     
    #12 mage00000, Jul 16, 2018
    Last edited: Jul 16, 2018
  13. mage00000

    mage00000 Member

    Joined:
    Oct 27, 2017
    Messages:
    48
    Likes Received:
    5
    Trophy Points:
    48
    Dash Address:
    Xpfu8DXjeG7i6bsWcm25mXb27T2e7t3Su8
    I have thought about this a bit more and truly believe this is something we need to do, but very few of us have a global view of the entire project. For example things that may be true in the US may not be true elsewhere.
    So I would suggest a small brainstorm session where we just write down points that enter our minds when thinking of Dash. Later on we can then structure that into lists that apply to the network, the core team or other parts.
    My thoughts:
    What attracted me to Dash is its professional set up. As far as I know it is the only project that is self-funding, which in my opinion is a must for a project to be successful. The Dash treasury is IMHO Dash's strongest point. But the value of the treasury depends on the price of the coin, and this price is determined largely by speculators. To make matters worse, by amateur speculators.
    I mentioned IOTA before which is a project that doesn't even work, yet its marketcap is 50% higher than that of Dash. This shows how current speculators are valuing projects. The good thing is that I expect this to change as soon as institutional money comes in. But we must make sure that Dash is seen by these investors and we must manage to increase our marketcap sufficiently to avoid becoming a pump and dump play-ball for these larger investors.
    Dash is focussed on expansion in poorer countries which is from a humanitarian viewpoint a very good thing. But most crypto promotions are done on youtube and how many Ghaneese crypto youtube channels are there? Also we must understand that "the rich" intend to remain rich and do not want to see the poor becoming rich. So if we only focus on helping the poor we will find the rich (and powerful) against us.
    What also adds to Dash's professionalism is the strong focus on being a payment solution and its ability to quickly and efficiently resolve issues. I think however that a second voting mechanism should be created for matters that do not involve the treasury. Such as voting on a new logo or voting for should we go left or right. These polls should probably not require the 5 Dash payment, but perhaps a equivalent of a few 100 USD only.

    Well those are my thoughts, from which strong points, weak points and the others can be extracted at a later stage.
    Hope this helps.
     
  14. TroyDASH

    TroyDASH Well-known Member

    Joined:
    Jul 31, 2015
    Messages:
    1,251
    Likes Received:
    794
    Trophy Points:
    183
    @Iñaki @mage00000 FYI this thread is 2 years old. But it's probably worth a revisit as a lot has changed
     
  15. mage00000

    mage00000 Member

    Joined:
    Oct 27, 2017
    Messages:
    48
    Likes Received:
    5
    Trophy Points:
    48
    Dash Address:
    Xpfu8DXjeG7i6bsWcm25mXb27T2e7t3Su8
    :oops: I should pay more attention....
    Anyhow, I still think it should be picked up. But not just by one or two people.