Pre-proposal: Let millions of Chinese investors on Huobi invest Dash

TroyDASH

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guys take it easy
yes it is a cultural thing
they are still learning the system and 'how to' - hence
huobi did the pre proposal thread (here) as asked, sure they did the proposal a bit quick - but not everybody is a pro as us
(+ they wanna build some PR and promotion around that proposal , so they need to put it out there early to have time build that marketing)

yes there are a lot of cultural differences (as with any other culture / country)
giveaways are a big thing in china , i had multiple conversations with our chinese team + Huobi about it
i trust them , a they are 'the' locals and know that culture (that is why Alexy + raico are our Dash China Team since 3 years +)
we have these people in place because we need their input for that culture - as decentralised as we are we have to be in cultural differences as well
so - if they (the locals) confirm to us - it is the way to go in their country / culture - i listen to them as they 'know' (and that is what they are hired for)
;)
I understand, but I'm not interested in Huobi marketing for Dash. If they want to do that on their own or do their own airdrop with their own money, in order to boost exchange activity or whatever, then fine, but I have no interest in having Dash pay for special marketing treatment.
 

TroyDASH

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I do hate the idea of giving it to traders holding LTC and BTC. Can't the 1000 Dash just be used to allow it's users to not have to pay withdraw fee until the funds run out? They could even set up a masternode and airdrop the rewards to everyone holding 1 Dash on their exchange. You know incentivise people to buy Dash instead of giving it to them.
THIS ^
How about offer everyone who holds Dash on the exchange a daily interest equivalent to 2-5% annually? It would be achievable if Huobi set up masternodes with their cold storage, without even needing to be funded from the treasury. It would incentivize purchasing dash or depositing dash in the exchange, and would be a win for everyone.
 
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tungfa

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I understand, but I'm not interested in Huobi marketing for Dash. If they want to do that on their own or do their own airdrop with their own money, in order to boost exchange activity or whatever, then fine, but I have no interest in having Dash pay for special marketing treatment.
the giveaway is just a side show
what it is really all about is presenting our governance system (and huobi promoting that)! Segwit2 just crashed and got canceled - now is the time to do something like this and think outside the box and try something different (specially in china ;))
 
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TroyDASH

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the giveaway is just a side show
what it is really all about is presenting our governance system (and huobi promoting that)! Segwit2 just crashed and got canceled - now is the time to do something like this and think outside the box and try something different (specially in china ;))
It might be a side show, but that is not how it was presented in the proposal description. To review:
---------------------------------
2. What’s the proposal for?
We are the leading global digital asset exchange – Huobi.pro. We would like to integrate Dash in our exchange. Not only bring Dash to our millions of users from 130+ countries and regions all over the world, but also make them Dash fans. We will spread Dash’s technology and unique characteristics to the Chinese market through our website announcements, articles, videos and training. Since Huobi is one of the largest exchanges in China and we’ve been operated for four years, we own great reputation in digital asset industry. Listing Dash on our exchange will definitely increase the popularity and liquidity of Dash in China, even the world.

3. What will we do?

a. Exchange. We will list Dash/BTC and Dash/USDT trading pairs on Huobi.pro and create millions of Dash hot wallets for our users and cold wallet for our platform.

b. Air drop. We will air drop Dash to all our bitcoin and litecoin traders, encourage them by this to use Dash, experience the Speed, try it out and see the difference in Dash and its technology. We will launch promotions to introduce Dash to our users and make them well aware and educated in Dash.

c. Marketing. We will post announcements on our website and Social Media which will be exposed to our millions of users, Dash will definitely get more popular in China. Huobi’s marketing channel will includes:
--------------------------------

If I take (2) for what it says, then (3a) is the part that matters. (3b) and (3c) do not pertain to the purpose of the proposal, but we are being told that the entire funding will go towards (3b).
What will Huobi do if we do not fund this proposal? Are they not going to add Dash, or are they not going to try to market their services anymore?
 
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bhkien

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the giveaway is just a side show
what it is really all about is presenting our governance system (and huobi promoting that)! Segwit2 just crashed and got canceled - now is the time to do something like this and think outside the box and try something different (specially in china ;))
I think what we need is more developers, more merchant accept Dash rather than attracting traders. And 1000 Dash is too much for that.
 
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GrandMasterDash

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My mind is made up. I don't think it's coincidence at all that we're going through this update AND getting this proposal at the exact same time. Tungfa is right, this is our opportunity to show the world we are able to reach consensus, whether it's doubling the block size or entering asian markets with force. I'm going to trust core on this one. They've been working hard behind the scenes and it's better we put aside our differences and actually get things done.

Huobi would make a good ally and give us good leverage into other asian exchanges / markets where remittance is really big. I believe Huobi have the knowledge to deliver on their proposition.
 

strophy

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I think a lot of has been "lost in translation" here, Huobi has, in their excitement, written some things into the proposal that they will do unconditionally, regardless of whether the proposal passes or not. Dash integration and social media marketing are DONE, and by done I don't just mean a done deal, but LITERALLY ALREADY LIVE. See here:
https://www.huobi.pro/notice_detail/?id=673
https://www.huobi.pro/zh-cn/notice_detail/?id=672
https://imgur.com/gallery/cx1g5

And here:
dash_huobi_launch.png deposit.PNG dash_huobi_cn.png

tl;dr deposits are already live and trading begins 10:00am tomorrow.

So, since 2, 3a and 3c are already done, and they have already put an unspecified amount of their own funds towards carrying out 3b, the proposal is now whether or not to put forward 1000 from our budget to support their airdrop. Granted, features like IS and DASH/RMB or other pairs would be great from launch, but this is something that comes later, depending on volume and legal constraints. This is not a pay to play integration, so it's not fair to make passing the airdrop proposal conditional on these other things, the vote is on the airdrop proposal at it stands. That is where some cultural questions come in to play.

I've lived in Beijing for the past 7 years and seen a lot of change, a lot of companies and promotional schemes come and go. Mobike, Uber, Didi, Wechat Wallet, Alipay, Taobao 11.11 giveaways all spring to mind. All major Chinese companies gain market share by giving away their product to get user's hooked, and a launch here without that will come across as miserly and unambitious. I see this as a vote on one of the biggest launch giveaways in Huobi history, with the social media fanfare to go with it.

You want business development, Chinese market share and awareness? This is how it is done in China. Dash Core, Alexey and Raico have been working hard on this in Beijing. Voting YES.
 

camosoul

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smh

Asian culture does treat and view money differently. But, they also know how to take that excuse waayyy too fucking far and just scam people.

"It's a culture thing!" ...and now you're broke. Ha ha! Fuck you Gwai Lo!

Their culture isn't the only one that matters.
 

sasababy

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Please set aside differences,liquidity is an important indicator of DASH,more shelf space means there is a better environment for sprint development.
 
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TroyDASH

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I think a lot of has been "lost in translation" here, Huobi has, in their excitement, written some things into the proposal that they will do unconditionally, regardless of whether the proposal passes or not. Dash integration and social media marketing are DONE, and by done I don't just mean a done deal, but LITERALLY ALREADY LIVE. See here:
https://www.huobi.pro/notice_detail/?id=673
https://www.huobi.pro/zh-cn/notice_detail/?id=672
https://imgur.com/gallery/cx1g5

And here:
View attachment 5168 View attachment 5169 View attachment 5170

tl;dr deposits are already live and trading begins 10:00am tomorrow.

So, since 2, 3a and 3c are already done, and they have already put an unspecified amount of their own funds towards carrying out 3b, the proposal is now whether or not to put forward 1000 from our budget to support their airdrop. Granted, features like IS and DASH/RMB or other pairs would be great from launch, but this is something that comes later, depending on volume and legal constraints. This is not a pay to play integration, so it's not fair to make passing the airdrop proposal conditional on these other things, the vote is on the airdrop proposal at it stands. That is where some cultural questions come in to play.

I've lived in Beijing for the past 7 years and seen a lot of change, a lot of companies and promotional schemes come and go. Mobike, Uber, Didi, Wechat Wallet, Alipay, Taobao 11.11 giveaways all spring to mind. All major Chinese companies gain market share by giving away their product to get user's hooked, and a launch here without that will come across as miserly and unambitious. I see this as a vote on one of the biggest launch giveaways in Huobi history, with the social media fanfare to go with it.

You want business development, Chinese market share and awareness? This is how it is done in China. Dash Core, Alexey and Raico have been working hard on this in Beijing. Voting YES.
Thanks for clearing some of that up. And yes it may be the case that things are done differently in China. I'm just not sure why doubling the airdrop is so important. We are saying if they only use their own 1000 dash it may flop, but if they use their 1000 dash + 1000 dash from the treasury, then it will be super successful? What am I missing here
 
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camosoul

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Thank you for your insight long time community member of 32 minutes able to talk about "us" in his very first post on this forum.
I'm curious... How long does one have to be a member of a community to realize that shooting yourself in the face is a bad idea?

Maybe 10 years of shooting himself in the face as part of the group, then he has the clout to say it's stupid?

It takes a lot less than 32 minutes to realize how stupid this is. Unless you're even more stupid, then you probably think it's a great idea.

Whatevs. I don't vote. Let the suckernodes make fools of themselves. Too dumb to even know how dumb they are... Again. Still.
 

camosoul

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Segwit2 just crashed and got canceled - now is the time to do something
Fuck me... It's been time to do something for over two years.

Nobody gives a shit about DASH being ponzi traded in China, least of all the Chinese.

An announcement of retail service by BitPay or Kraken supported by DASH...

Oh, right, someone was already doing that, and you pulled a zero day bug that was never exploited as an excuse to shut the whole feature down within hours of the project's release, just to stop them from going live... AGAIN! That's two times DASH could have had a retail presence and actually be used in real life, and The Usual Suspects killed it.

But, naw... Lets blast a bunch of money through a jet engine at PVG and let people chase after it... That'll help!

Well, at least they won't be photocopying the BTC blockchain again...
 
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TroyDASH

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Dash Core, Alexey and Raico have been working hard on this in Beijing. Voting YES.
Also wanted to add -- if Dash does not vote this in, it does not negate the work done by Dash Core, Alexy or Raico on working with Huobi for integration. Unless they made presumptuous promises about getting funding from the treasury.
 

camosoul

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Of course market presence in Asia is needed
There are plenty of exchanges in Asia.

bx.in.th even has a direct local fiat to DASH trading pair (THB/DASH).

They didn't even talk to us about it. They just did it. No ransom demands or anything...

It's been a cultural observation that Thai people, on average, tend to be a lot more honest than the Chinese... Aw, shit! Culture! Was I being insensitive? Eat a bag of self-identifying gender pronouns...
 
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kot

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I think what we need is more developers, more merchant accept Dash rather than attracting traders. And 1000 Dash is too much for that.
I agree in principle. However please keep in mind that currently between 80% and 90% of activities on crypto IS trading and speculation.
This was even recently confirmed by the research done by Ogilvy during their preparations...

We work on mass adoption in the future but we cannot ignore the reality.
 
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studioz

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HELL YEAH !!!!! thats not even 1 DUFF per Chinese Citizen !!!!! 1000Dash for Dash to be exposed to 18.67% of the total world population , how can i say no to this proposal !!!!
 
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kot

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I'm curious... How long does one have to be a member of a community to realize that shooting yourself in the face is a bad idea?

Maybe 10 years of shooting himself in the face as part of the group, then he has the clout to say it's stupid?

[...]
I am waiting impatiently for the moment when you realise that you do exactly something like this :p
 

Raico

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Dear Dash community,

Allow me to add some info from the view of Dash China team in cooperation with Huobi.

Huobi is one of the biggest three crypto-currency exchanges in China. They have a large number of BTC,LTC,ETH user trading in their platform. Most of the Chinese investor step into the crypto world just go with the fame. They want to trade crypto, so the big three exchanges are their first choice, Huobi plays a very important role. Users know BTC,LTC,ETH... so they trade it in Huobi. But why they don't trade Dash? Because most of them don't know Dash and the ones who know can't find trading pairs in the big 3. So it's very hard to promote Dash in China. Besides, Huobi is become more globalization which means their influence will be more broad.

What will happen if Dash added in Huobi? Dash exposed in front of the primary Chinese crypto investors. They will have chances to know what is Dash, and after the comparison with the BTC/LTC/ETH...you know what i mean.

- As for the 1000 Dash, It's not the "on board fee". Huobi don't charge any fees for adding new crypto-currency. The only standard is whether the currency is valuable for the investors trading in their platform. "It's not the money at all." Said Huobi. Furthermore, They've already prepared the amount of Dash for the air drop before they submit the proposal.

- The exchange is also an important part of Dash ecosystem. Huobi is willing to participate in our ecological construction and want to experience how it works by submitting a proposal of what they are planning to do. It's a good start, right?

Think about the customer resource (thousands of BTC&LTC&ETH investors who would become the Dash potential investors.), the market position and the platform advantage.....
 

TheSingleton

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Going to vote Yes. Now that some of the confusion has cleared up I think this Proposal will help dash.

But just for the Future, they should have mentioned that the Dash integration and the Marketing where basically done already. And leave the pre-proposal up for a couple of days before submitting the real proposal to allow for discussion. Though if we had known that the integration was already done we wouldn't have had less to discuss.
 

TroyDASH

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Dear Dash community,

Allow me to add some info from the view of Dash China team in cooperation with Huobi.

Huobi is one of the biggest three crypto-currency exchanges in China. They have a large number of BTC,LTC,ETH user trading in their platform. Most of the Chinese investor step into the crypto world just go with the fame. They want to trade crypto, so the big three exchanges are their first choice, Huobi plays a very important role. Users know BTC,LTC,ETH... so they trade it in Huobi. But why they don't trade Dash? Because most of them don't know Dash and the ones who know can't find trading pairs in the big 3. So it's very hard to promote Dash in China. Besides, Huobi is become more globalization which means their influence will be more broad.

What will happen if Dash added in Huobi? Dash exposed in front of the primary Chinese crypto investors. They will have chances to know what is Dash, and after the comparison with the BTC/LTC/ETH...you know what i mean.

- As for the 1000 Dash, It's not the "on board fee". Huobi don't charge any fees for adding new crypto-currency. The only standard is whether the currency is valuable for the investors trading in their platform. "It's not the money at all." Said Huobi. Furthermore, They've already prepared the amount of Dash for the air drop before they submit the proposal.

- The exchange is also an important part of Dash ecosystem. Huobi is willing to participate in our ecological construction and want to experience how it works by submitting a proposal of what they are planning to do. It's a good start, right?

Think about the customer resource (thousands of BTC&LTC&ETH investors who would become the Dash potential investors.), the market position and the platform advantage.....
I am still not seeing from your explanation why there is a marginal benefit worth 1000 dash to fund this proposal. Wanting to participate in our ecological construction and wanting to experience how it works is not a good justification for sending money to double an airdrop amount for their marketing campaign, imo. The benefits you speak of are already existing without this extra money.
 
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RGXDK

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@huobipro

1. Please explain briefly what exactly would the Dash network get for the 1000 Dash you're requesting?

2. Other coins didn't pay to be listed and your company will benefit from the listing. Please explain briefly the purpose of this money

edit: referenced the wrong user
 
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djcrypto

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Is it possible to force Huobi users to claim the Dash and download the core wallet?
I would like to see them have to use the Dash and get an experience with its speed and low fees as opposed to it just sitting in their account and not have to interact with it.

Air drop of .001 Dash is barely enough to cover the IS tx fee as it is right now before DIP0001 is enforced on the network.

I am against air drops but for marketing. Seems like a bad precedent to set when promoting Dash on a new exchange.

Come up with a separate marketing proposal and I will consider it.
 
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GrandMasterDash

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@Raico

1. Please explain briefly what exactly would the Dash network get for the 1000 Dash you're requesting?

2. Other coins didn't pay to be listed and your company will benefit from the listing. Please explain briefly the purpose of this money
He's on the dash team, not Huobi.
 
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RGXDK

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We would be happy to help if the Community see's the value in this.
We should learn from our mistakes and require escrow for ALL proposals over $5k. We can debate over $5k, $50k, $500k but I guess no one can argue against having escrow if a proposal is over a certain amount.