AMA Response: What will Dash do in 2018?
Hello Steemians!
Welcome back to another @bl0ckchained125 post for Steemit and Crypto newbies and learners. I want to give a quick shoutout to @cryptodecript for asking the question that resulted in this post!
That question(s) was.........
- What will Dash do in 2018
- Will ASIC Miners destroy Dash by bringing mining profitability down?
Part One: What will Dash do in 2018?
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Let me begin by saying, price and performance predictions are purely speculative and are subject to many factors. My advice should not be taken as direct investment advice; please DYOR before investing.
With that said, I believe the entire cryptocurrency market is shaping up to have a record year in 2018. Coinbase is adding a record number of users daily and the market cap of all cryptocurrencies has been raised by 50% in just the last 3 weeks. If this trend continues, at the very least, I believe that you will see the price of the top 15 market-cap coins increase dramatically over the next 6-12 months.
Part Two: Will ASIC Miners kill Dash?
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After doing some research on this topic, I have come to the conclusion that I do not believe ASIC miners will kill Dash. Yes, ASIC mining rigs are ridiculously efficient and are raising the difficulty adjustment of Dash. This is making the mining profitability smaller and smaller as the days wear on. However, as I mentioned above, as long as the market cap of all crypto's continues to rise, you will see a continued incentive for miners to mine Dash. Also, one positive aspect of ASIC miner efficiency is increased efficiency of the Dash network. Faster and more efficient payments will secure Dash's claim as Digital Cash even more and could be a huge factor in the future success of Dash.
In Summary
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I think that Dash is a safe investment for the upcoming year. With the amount of money expected to flood the market, most new users will throw their funds at the top 15 market cap coins since they will appear the safest of investments. The potential for Dash mining profitability to decrease is high, however if the price of Dash continues to rise as well as the use of the network, then mining rewards and TX fees should be enough for miners to be incentivized to stay on the Dash blockchain.
Thanks again to @cryptodecript for today's AMA! Please make sure to comment on my future posts with any questions you have about Steem, Steemit, or any cryptocurrency in general and I will be happy to post about it.
If you like my posts please Upvote, Follow, and ReSteem @bl0ckchained125!
Thank you @bl0ckchained125 for your awesome insight in DASH :) it helps a lot and to put my mind at ease. awesome content
No problem at all! If you have any more things you'd like to learn about please let me know, i'd be happy to write another post.
@cryptodecript Been a good month for Dash! Hope this post helped you get some more capital in the game and reap the benefits of the Dash spike.
I love Dash but this doesn't look like an introductory post, be mindful with your tags.
I tend to post a lot of info for Steemit newbies, in order to connect with that audience I sometimes use the introduce yourself tag
they are trying to become a mainstream way for everyday consumers to spend money. that's exciting, and no other cryptos are really trying to do that.
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