Another in our “Voices of Dash Nation” series, where we take posts of exceptional quality and share them with our readers. The following was posted by Dash Nation member “Toknormal” on the Dash Nation on Discord chat.
Surveying coinmarketcap today gives much cause for reflection. It looks to me like “novelty value” is starting lose out to “survivor value”. This is particularly true for pure monetary, mined originals. Not many people will notice this unless you’ve been glued to coinmarketcap rankings for the last 5 years and can recall almost every pump & dump that ever made it into the top 5.
What many people possibly underestimate – or take for granted – is that Dash is now an IMMENSE force in crypto. The bear market has taken its toll on many people’s nerves (and pockets – including mine) but it hasn’t pushed Dash much below its 2014/15 ATH ratios with bitcoin in the way that it has cratered many other cryptos that at one time or another visited the top 10. (Check my recent remarks in #markets for explanation of the role of coin supply in marketcap).
The track record speaks for itself and Dash, Ether and (cough) Monero have out-performed everything over the time period because the market is now selecting originals in their class for long term reserves, even though flavours of the day will continue to have their volcanic spells. In that respect, Dash has survived on merit alone because it prioritised investability over short term marketcap ranking (by growing exchange rate over coin supply) and monetary integrity over technological novelty (by inheriting bitcoin’s mined status and codebase).
Dash compares well to others
If you compare for example the history of Litecoin (a “clone” that did not define a new asset class and did not invent masternodes) with Dash against bitcoin there is no contest. LTC is now languishing at 30% of it’s 2014 high while Dash is retesting its 2014 (BTC ratio) highs from above this time. That is the sign of true growth – long term investability against bitcoin because what’s the point of holding an altcoin if it can’t grow against BTC ? You might as well hold BTC itself.
Then there is BCH which doesn’t even have a pedigree, never mind a feature set. It’s simply a bitcoin cast-off now that has holders by default while still being constrained by its core properties – like building a bunch of houses that have the same locks as a Majorca villa and calling them “valuable” because the key fits.
Solid technology and pride of work
The other ace that Dash holds is that it can actually draw service demand into the native blockchain as opposed to pushing it out to 3rd party satellite networks like “Lightning”. The market has acknowledged Dash’s unique “patent” on that capacity by way of having ranked it as the original in the masternode class of blockchains. That attribute is now welded in place despite the media attacks and FUD. The “what doesn’t kill you…” paradigm is taking the place of the early challenges to its existence.
Finally, the fact that recent mainnet version releases have gone almost flawlessly is a testament to the fact that devs have their priorities right IMO – i.e. make sure it “works” above everything else including bells, whistles and premature releases. For me this means that there is something huge and worthwhile coming. Namely that a cryptocurency network will have the capacity to “talk” coherently to client applications and offer them native, authentic services as opposed to brokered ones that can do no more than relay the latest version of the blockchain with a lot of added hand-waving.
Think of it this way. Have you ever seen a flock of birds manoeuvre with coherence ? All at once in response to a gust of wind, blast of noise or flash of light ? Well Dash network service layer (known to many as “Evolution”) is that flock of birds. Its mining layer, being decoupled, remains as solid as bitcoin’s. Bitcoin network meanwhile….needs to wait for the next block to do anything at all.
Thanks, Toknormal! Got an opinion on this subject? Let us know in the comment section.