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What DASH needs to set it above all other cryptos

Discussion in 'General Discussion' started by DeepBlue, Jan 8, 2019.

  1. AgnewPickens

    AgnewPickens Moderator
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    This ^^^ could create an organic means of creating a stable coin supply that I believe has not been tried yet.
     
  2. AgnewPickens

    AgnewPickens Moderator
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    Mechanism, and just pulling example numbers out of my ass, Dash$ would be created out of Dash at superblock at some market reference price, allowed to vary, let's say +/- 10% supply at each release to supply, with a buyer/seller market coded into core protocol, this would guarantee a stable inflation rate for the supply with a floating peg. This is just an idea. @)~ A starting supply could be created out of an internal Dash to Dash$ buy at reference market rate? For a period of (?)X treasury cycles while the stable coin is coded into the core protocol with an upper limit on pre-sale? In fact, Dash$ MNs could be coded into the protocol at a fixed $100,000 each which would set a $100 reference rate for Dash. Dash could attempt to peg to $100. Thinking out loud here.
     
    #32 AgnewPickens, Jan 15, 2019
    Last edited: Jan 15, 2019
  3. AgnewPickens

    AgnewPickens Moderator
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    If this $100 peg for Dash worked, Dash could in theory INCREASE its emission rate with a spork, with rewards to MNs and miners adjusted upwards. Or downwards in the case of a dropping peg.
     
  4. EUsouth

    EUsouth Member

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    A stable coin would PRECISELY fix in a move the two biggest problems that Dash may have experienced in 2018: The loss of funds to finance the sector's overall dump + the precise reference for global users and traders to do business without volatility (and without complicated proposals of changes to fiat "as fast as possible" and similar patches, which would never fix 100% the problem).Exactly by that, Dash magnified the damage that these two issues cause in his approach. IN usability, because there is no greater proof of this in its adoption attempts than the merchant knows that with one click his transactions have an AUTOMATIC step to Fiat. And what are we going to say about that advantage in the ATH of 2017 regarding the lost funds of the common treasury.

    The key is that this stable coin pushes the quote of the "original" currency upwards, (instead of replacing it in that daily payment task) ... and for this, the "original" currency should play an essential role in the SUPPORT for the stable coin emissions (for more Stable coin issue ... greater shortage of "original" Dash - or of the available supply, which would be the same -).

    After months asking about the interpretation of DCG in this respect without, at least in the official forum, has received any specific response in this regard ... the truly surprising thing is that this issue is not on the table with the utmost urgency. In addition, the feedback that Dash obtains WITH ITS OWN MOVEMENT thanks to its financing and governance system is a book win in that regard. It should define an "inter relation" between stable coin and original currency that would be positive for both, which, with the economic advice due, is very simple.

    Without a stable price, all the work that is done in expansion of traders, is fragile, because the volatility drives them away from the adoption of Dash. Nobody at ETH thinks that the stable coins of their chain will sink the price of their central token, since the movement of these attracts users to it ... and also generates fees - besides being the door to retain those new users -.

    At the level of general debate, at least (that Evolution did not include a solution of this type in its initial approach was something totally surprising to me) ... I think this topic was quite underestimated when really not only should not cause problems ... If not the opposite.
     
    #34 EUsouth, Jan 15, 2019
    Last edited: Jan 15, 2019
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  5. EUsouth

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  6. DeepBlue

    DeepBlue Member

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    A very interesting and creative concept. That would solve many problems that proposal owners are having. I think you could have come up with something here that is truly ground breaking.
     
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  7. DeepBlue

    DeepBlue Member

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    Do you know what other benefit it would have that I think nobody else has yet thought about? If the rewards were paid out into the stable coin it would massively improve the ability for MN to pay their taxes on rewards without any complications. The problem at the moment is that calculating all the actual amount for tax purposes is a complete nightmare especially for countries that take the value of coin at issue as the tax point. Other countries take the value on the 31/12/ and in situations like the end of 2017 when the price ballooned and then crashed many people got caught out and could have been liable for higher taxes base on the price of DASH on 31/12/2017 . If however all rewards are paid into a stable coin or at least a option to do so then taxes suddenly become easy to manage.

    From country to country the criteria for paying taxes vary. Some take the value of the coin at the end of the year, other take the value of the coin when it is issued. If all coin rewards are issued as stable coins then we have no more problems with tax calculations. For the MNO that want to take a risk they can always convert to DASH transactional if they wish but I think the sensible thing would be to leave it as DASH stable until the tax is paid.

    We need a stable coin DASH core group. Evan, if you are reading this can you comment. I think this is what we are missing. We need a stable coin for DASH to go mainstream.
     
    #37 DeepBlue, Jan 16, 2019
    Last edited: Jan 16, 2019
  8. EUsouth

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    The rewards could be in Stable coin, why not? In fact, there are 1000 options to pose it ... it would define the precise and ready.

    Imo, the keys in this, are 2:

    - Eliminate volatility for those who want to use them in their payments / collections.

    - Repercussion in the creation of internal wealth, giving the "central" currency a direct role for support, blocking, etc. (to be defined). In fact, this would go into a strategic approach beyond seeking mass adoption - which I understand will have its own timmings, and very difficult to "provoke" - as an inexcusable point of projection: that of optimizing the existing adoption, making that the current crypto-users stimulate the governance and financing system of Dash. It is very difficult to generate adoption in a bearish environment ... however, the use of people who are already in the middle continues to exist for payments, trading, etc.
     
  9. DeepBlue

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    Stability in DASH is essential for commerce. If we could combine stability with simplicity of use e.g. with NFC passive payment card, DASH would become an unstoppable solution for payments in Latin America.

    Stability brings other benefits too. If we develop a DASH stable coin to work with our current Dash Transnational coin then there would be no reason for merchants to have to cash out to fiat currency in Venezuela. A stable coin also means we can use an NFC Passive Card for making payments without any internet or phone. An NFC passive payment card - let's call it a "DASH Card" or "DASH Blue" would also mean that people do not even need a phone of any type and they don't even need an internet connection because the coin is stable there is no need to look up its value in real time.

    The DASH CARD would be charged up with DASH Stable coin at home with just enough money to be used in the day. The user would keep the majority of the DASH on either a hard wallet in a secure place or on their phone. This makes it possible for crypto to be used anywhere by anyone. I wrote an article on why a DASH Card might be more useful for mass adoption than Evolution which you could read here:

    DASH Card: (Passive NFC payment card)
    https://www.dash.org/forum/threads/...evolution-for-granny-and-mass-adoption.42644/


    A Dash stable coin with a DASH Card therefore gives these benefits:
    1. No internet required
    2. No training required
    3. Merchants would readily use DASH because it could be automatically locked into the DASH Stable twin coin. This circumvents the need to convert DASH to fiat currency. As long as the purchasing power remains why convert to fiat if merchants in Venezuela accept DASH?
    4. Increased security for people in Venezuela because the can charge their DASH card up with only enough money they intend to use that day.
    5. The price of Dash transaction coin (our current coin) is likely to dramatically increase because DASH becomes considerably more usable alternative to fiat currency and therefore more merchants would want to use DASH.
    6. Almost no training is required with a DASH card which opens the door for granny to use it.

    Other crypo projects are waking up to the importance of having stability and developing their own stable coin - e.g. is Binance which is now in the process of developing a stable coin.

    https://www.coindesk.com/crypto-exchange-binance-announces-new-stablecoin-initiative

    Combining a DASH stable coin with NFC passive payment card eliminates most of the barriers DASH has faced to getting wider adoption.

    Evolution is going to be amazing, However we also need to consider is this the very highest priority for us to deliver this now? Could it be that a DASH stable coin linked to a DASH card would give us more practical use now in countries like Venezuela leading to rapid and wide-spread adoption of DASH. As far as I am aware the first release of Evolution does not solve the stability issue. Perhaps stability and integration into a DASH Card might be useful to integrate to the second stage of evolution or we could develop these as a separate project.
     
  10. EUsouth

    EUsouth Member

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    @Deep blue

    Not only for trade. And not just a stable coin.

    DASH needs a stable coin SUPPORTED IN ITS MAIN ASSET. This would not only get a unit of account valid for users, but, blocking that main asset when real use needed to issue stable coins, would help generate a store of value valid for the ecosystem (Currently, DASH only meets one of the 3 requirements of good money, that of “means of payment.” Both as a unit of account and as a reserve of value is a lousy money).

    And yes, of course that is more important than Evolution. Minetras do not improve their monetary characteristics, DASH will simply be unusable garbage.
     
  11. EUsouth

    EUsouth Member

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    "Better money", "money from the future" ... and Ryan Taylor (and now DASH NEWS echoing) saying that an OPTIMIZED ARBITRATION tool ... is DASH's key to eliminating volatility because it allows you to quickly enter and exit of the ecosystem (when it is EXACTLY the opposite, it will encourage more capital to be joined by speculative movements, precisely because of that, because it favors arbitration with its speed - the speculative movements that occur ... both downwards and upwards, will be amplified and will be even more volatile. - ).

    Ignorance in the areas of project management is so enormous that it can only be believed when advertised. Absolutely incredible.

    By the way, since they like to talk about BlackRock so much ... if any economist reads those statements, basing the solidity against DASH's volatility on a basis of arbitration, it would take them to withdraw their funds the same time as typing the number of Address phone number. With these statements you are simply stating that your monetary proposal does not have a reliable unit of account or a solid value reserve. The project's own dome gives them zero points out of ten. Anyway, as a say before ... if I don't see it, I don't believe it.

    Meanwhile ... FACTOM, like so many other projects, launches its resources against volatility via multiple stable coins ... for the safety of its users in a large DEFI-oriented movement.

    https://www.publish0x.com/dyec/what-pegnet-stablecoin-network-top-factom-xzqrkv

    It may sound arrogant, but using the MAKER system - or a similar one, based on the creation of a stable coin backed by the main asset - who would have trouble competing with DASH would be BTC ... and not vice versa. On the contrary, after more than a year - I abandoned the project due to the unassuming delays of Evolution already in 2017 - demanding attention on this key point in DASH ... all I have received are DAO-financed trolls around, censorship arbitrary from the admin dept. of the two existing discords , ignorance and mediocrity... which makes clear the way in which this project is vitiating its entire structure parasitic and inbred , instead of improving it with talent, communication and self-criticism. A huge mistake, sterile , illogical and absolutely unfortunate.
     
    #41 EUsouth, Dec 2, 2019
    Last edited: Dec 4, 2019
  12. GABRIELLE JHONSON

    GABRIELLE JHONSON New Member

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    thank you nice post and solution ,....