People Are Buying DASH as a Speculative Investment, Not for Utility
DASH, the Cryptocurrency formerly known as Darkcoin has seen some major gains over the last 2 months. Currently 1 DASH is trading for around $70.00. But why are people buying DASH? Is it because they want to use a currency that is fast & anonymous? Is it because they want to vote on budget proposals and help steer the project in the direction they desire? Or is it because FOMO?
FOMO is a real thing. Nobody wants to be the guy who misses the train. No body wants to be the guy who doesn't put some of his crypto holdings into DASH. Mean while Masternode Holders are slowing selling their shares.
A lot of people claim they believe in DASH and that they have lost faith in Bitcoin yet most of these people continue to hold both tokens. The reality is they don't not believe in Bitcoin they just want to make money and with DASH there is opportunity to make money. This is the reason people are investing in DASH. To make money. There is no utility DASH provides that one can not find elsewhere. DASH does not fix any problems and any such claim is outlandishly unproven.
No body is buying DASH because they think it works better or faster or because it has a better governance model. The governance model is just another way for DASH holders to make more money. There was once a novel budget proposal submitted by Evan Duffield requesting a blocksize change from 1mb to 2mb. The proposal passed with flying colors yet nothing ever happened and the proposal is long forgotten. A network can not force developers to write code they do not want to write. This entire vote was for show and nothing will ever come from it. The network can not make decisions like this because the network can not control people.
People are buying DASH because they think the price per DASH will continue to rise not because it is useful or because it's better than Bitcoin.
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Good article....imagine if you'd bought a slice of pizza last year with dash last year...that is now 70$US. Dash purchases are future regret. It isn't cash...it is an asset
It is an asset until the bubble bursts
You know what Dash has that other organizations don't? A record of producing quality content aimed to genuinely inform people about what they are getting into.
People are buying Dash because they think the price will continue to rise, what should they be buying instead and why? Which crypto is being purchased only for utility and not for its promise to become greater? Which stock exactly, even outside of crypto, are people getting hoping it will decrease in price?
You know what Dash has that other organizations don't? A record of producing quality content aimed to genuinely inform people about what they are getting into.
You mean like when they said they changed the blocksize from 1MB to 2MB and nothing happened except a bunch of media blitz? I wonder why? Because it was all for show.
You mean like how they pretended to integrate DASH into lamassu ATM's and got a bunch of media coverage from it but the reality is that the integration had nothing to do with lamassu and the core team was lying through their teeth?
You mean genuine quality content like those two I just mentioned?
People are buying Dash because they think the price will continue to rise, what should they be buying instead and why?
I am not giving financial advice they can buy whatever they want. I hardly believe that every single person investing in DASH knows the full truth behind DASH.
Which crypto is being purchased only for utility and not for its promise to become greater?
None are. Insinuate much?
The fact of the matter is you have Ryan Taylor Director of Finance at DASH making outlandish claims like he does in this video.
Is the DASH team really driving this pump or is it pure speculation?
I don't know what it is driving the price this high to be honest, and don't get me wrong, I am glad you are bringing this kind of stuff to our attention if it's true. But the way I see it, you've just mentioned a few things that maybe haven't planned out the way they were expected to, and if every crypto was a scam based on that then they'd all be scams. We can ask without accusing, I can see why you'd be to the point of accusing if you were censored in Dash official channels, but when I see you complaining like you have I get the sense that you've already made up your mind about Dash and are on a mission.
I know of a proposal to bring merchants in that didn't plan out the way it was intended and they brought this to the public, that's why I have a hard time believing your suggestion that they are presenting all the good stuff to the public and leaving the bad out.
It's fine, think what you want about my intentions. I really don't have any. One quick question...
Can you show me one thing DASH brings to the table at this moment that would entice people to buy it other than it will make them money?
.... same thing could be said about Bitcoin! Don't tell me Bitcoin has thriving Community Supporting it at this moment. Every Crypto-coins starts as a Scam, Money in the 21st Century is a scam. What Scam is worth going for, could you tell me which Crypto-currency are you invested in ? Maybe i can copy my portfolio and we can all follow the scam together. Arguing about Smart money, without actually being Smart!
This article is about dash not other cryptos
Just popping in to say that the blocksize proposal was for IF and WHEN they might need to up it, not because they needed to up it. That's why it hasn't happened. What it did show, however, was the ability for Dash to come to consensus in under 24 hours on an issue that isn't even an issue yet, and one that BTC still hasn't resolved.
Just sayin'
There is no consensus until it happens. You can not force developers to write code. Unless you plan on putting a gun to the heads of dash developers and forcing them to write code. Masternodes have no mechanism to enforce this protocol change... its all for show.
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