Telegram ICO , is it game over for other cryptos ?

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Dashmaximalist

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Telegram ICO will be a game changer, it's reported to have the potential to be the biggest ever.If successful we could see many big companies fellow suit eg Facebook.Maybe as a community we should get used to seeing Dash in lower placing in terms of marketcap, though I believe it will take some time for such organisations to get established in the crypto space, believe Dash will be widely adopted by then.
yes , if facebook rolls out its coin , it will instantly have the biggest market cap , there not even a question about it.
 
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Dashmaximalist

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What that requirement means it needs to be capable of functioning as a unit of account. That property follows from it being fungible. For example you couldn't use a gold nugget as a unit of account because it's different from every other gold nugget but you could use a gold weight as a unit of account, e.g. ounces.

But the "unit of account" property doesn't mean that money needs to be widely adopted as a unit of account - that would be ludicrous because almost every monetary asset other than debt securities is not co-incident with a national currency. Dash has a unit of account and so does every other cryptocurrency - that's what makes it spendable because it can be quantifiably expressed in any other unit of account. So Dash is "spendable" regardless of how Amazon chooses to price their goods.

Whatever the merits of relative blockchains, there's one thing you can be sure of: if a global cryptocurrency comes to dominate as a store of value it will definitely NOT be widely used as a pricing unit for retail. That's because if it's any good at storing value it will be deflationary in relation to a growing economy and a distinct unit of account will be sought that can measure that economy's value more stably. (That is one of the few useful things that central banks do right now).
sorry i got confused between unit of account and goods being priced in it.
 

solarguy

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yes , if facebook rolls out its coin , it will instantly have the biggest market cap , there not even a question about it.
Hogwash. Just because they have a big name and a user base, they can't just swoop in and make a functional and valuable cryptocurrency. It's not that easy. A big bank consortium hired a bunch of crypto devs and tried to roll their own crypto. Tens of millions of dollars invested. How big is their user base? At least as big as facebook. How did it turn out? A complete disaster. They disbanded the working group.

If you have that little faith in Dash as a competitive product in the crypto ecosystem, perhaps you should find a safer and more conventional investment. This whole fear, uncertainty and doubt thing is getting old. When Facebook actually produces a functional crypto that's listed on CoinMarketCap, then we can have a conversation about how much of a competitor they are. Until then, I have no interest in speculating about how Facebook or Telegram are going to put us out of business.

Good day sir,
 
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Telegram ICO will be a game changer, it's reported to have the potential to be the biggest ever.If successful we could see many big companies fellow suit eg Facebook.Maybe as a community we should get used to seeing Dash in lower placing in terms of marketcap, though I believe it will take some time for such organisations to get established in the crypto space.
Hogwash. Just because they have a big name and a user base, they can't just swoop in and make a functional and valuable cryptocurrency. It's not that easy. A big bank consortium hired a bunch of crypto devs and tried to roll their own crypto. Tens of millions of dollars invested. How big is their user base? At least as big as facebook. How did it turn out? A complete disaster. They disbanded the working group.

If you have that little faith in Dash as a competitive product in the crypto ecosystem, perhaps you should find a safer and more conventional investment. This whole fear, uncertainty and doubt thing is getting old. When Facebook actually produces a functional crypto that's listed on CoinMarketCap, then we can have a conversation about how much of a competitor they are. Until then, I have no interest in speculating about how Facebook or Telegram are going to put us out of business.

Good day sir,
All of us in the forum, believe in Dash that's the reason we here in the first place, so doubt anybody in this thread is doubting Dash. The example you gave regarding the banks, it's pretty clear such attempts will fail given that cryptos were created to move away from monetary centralization so really doubt anybody will be supporting a fedcoin anytime soon. Though as a community we must acknowledge that the crypto space is changing and big plays like Facebook or Telegram will influence the space and as a community we should adapt to that change.
 

solarguy

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All of us in the forum, believe in Dash that's the reason we here in the first place, so doubt anybody in this thread is doubting Dash. The example you gave regarding the banks, it's pretty clear such attempts will fail given that cryptos were created to move away from monetary centralization so really doubt anybody will be supporting a fedcoin anytime soon. Though as a community we must acknowledge that the crypto space is changing and big plays like Facebook or Telegram will influence the space and as a community we should adapt to that change.
New and significant players may enter the crypto economy. Sure, I don't doubt that for a second. But, "Telegram ICO, Is it game over for other cryptos?" That's a bit doom and gloom don't you think? Anyone seriously asking that question would be crazy to have any significant investment in Dash.
 

slamdunk

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Furthermore, my gut tells me permissionless mining is so fundamental to the original Bitcoin design that Telegram, Ripple, Facebook et al face a chicken/egg problem. When addressing that problem they will/have chosen permissioned arrangements.

At that point, aren't they just issuing fancy securities and running fancy (but private) databases? Wouldn't "Facebookbucks" sort of ruffle the feathers of Facebook shareholders by diluting them?

The permissionless nature of the DASH network is fundamental to the inversion, whereby the incumbents are put on the same shelf as the US postal service.
 
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Yes
New and significant players may enter the crypto economy. Sure, I don't doubt that for a second. But, "Telegram ICO, Is it game over for other cryptos?" That's a bit doom and gloom don't you think? Anyone seriously asking that question would be crazy to have any significant investment in Dash.
Definitely believe Dash will still be alive and kickin regardless of what occurs with Telegram ICO. Just have to wait and see in terms of the impact such ICOs will have on the crypto space.
 

Dashmaximalist

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Furthermore, my gut tells me permissionless mining is so fundamental to the original Bitcoin design that Telegram, Ripple, Facebook et al face a chicken/egg problem. When addressing that problem they will/have chosen permissioned arrangements.

At that point, aren't they just issuing fancy securities and running fancy (but private) databases? Wouldn't "Facebookbucks" sort of ruffle the feathers of Facebook shareholders by diluting them?

The permissionless nature of the DASH network is fundamental to the inversion, whereby the incumbents are put on the same shelf as the US postal service.
you are touching on the most important point of the discussion , facebook might not be allowed to roll out a permission less ledger due to its US base , however telegram might roll out a completely decentralised permission less coin as they are rolling ICO from switzerland / dubai, so lets wait for more updates from them
 

solarguy

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you are touching on the most important point of the discussion , facebook might not be allowed to roll out a permission less ledger due to its US base , however telegram might roll out a completely decentralised permission less coin as they are rolling ICO from switzerland / dubai, so lets wait for more updates from them
Maybe they will. Maybe they won't. Maybe they will produce a buggy centralized expensive failure. Nobody really knows at this point.

Maybe we should refrain from posting click baity FUD posts like, "Is it game over for other cryptos?" implying it's game over for Dash. Let's at least wait and see what it looks like in real life before we yell the sky is falling based on pure speculation.
 

Dashmaximalist

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Maybe they will. Maybe they won't. Maybe they will produce a buggy centralized expensive failure. Nobody really knows at this point.

Maybe we should refrain from posting click baity FUD posts like, "Is it game over for other cryptos?" implying it's game over for Dash. Let's at least wait and see what it looks like in real life before we yell the sky is falling based on pure speculation.
ok it sounds like a lil click baity , but its an existential threat in my opinion, Dash needs to step up the marketing game to a whole new level and cross 100 million users before they roll out
 

rosita

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Now it is difficult to give an answer to this question, it is best to just wait and draw conclusions. But in general, ICO is more a game than a business.
 

Robinst

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How can someone believe Telegram ICO after they decided to give the information about its users to authorities? I don't think that ruining the privacy will make them fell good.
 
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