Note: Previously the Evolution Whitepapers were linked in this section. These papers were written back in 2015 and are outdated, because Dash Evolution has seen a massive re-design and has been developed much further than those papers could have predicted. A new version will be posted here and elsewhere as soon as it is available.
"Dash rebranded from Darkcoin to distance itself from its dark history!!" -> Not at all. Nothing about its history is "dark" and more importantly this thread called "The Birth of Darkcoin" is stickied by Evan Duffield himself on the official main forum.
Why saying "Dash is a company" is false: Dash Core Inc., a company based in Scottsdale, Arizona is not the decentralized network called Dash. The network, consistent of over 4.5k globally distributed, decentralized Masternodes decided to hire and fund the company Dash Core Inc. to develop said network. This is the distinguishing property of Dash being a DAO, so it's understandable people have difficulty grasping the concept. Similarly Dash does not have a CEO, while Dash Core Inc. -obviously- has.
Dash does not and never had a "dev tax": Dash has a Treasury and its distribution is being voted on each month. Only those funds that have been approved by the Masternode network go to proposal owners. The Treasury is capped at 10% of the accumulated block reward of one month. There is no central authority non-requested or non-approved funds go to and there never has been. Those funds are simply not created. So you can have months in which only 8% of the budget is being paid out, with the remaining 2% going to nobody due to not being mined.
"B-but Evan Duffield can roll back the last 24 hours of the blockchain with the flick of a button!" Complete bullshit. The key in question refers to requiring a Masternode to re-validate its pre-existing blockchain in order to ensure it's on the right chain. Masternodes have nothing do with putting or removing transactions into or from the blockchain, only the miners can do that, thus claiming someone can "roll back the blockchain" in Dash is a malicious lie and a desperate attempt to make Dash look centralized when it's not. In short: No such button exists, ever existed or will ever exist.
The Dash community is well aware that during most of its history this project has been under attack by competitors, many of which are trying to portray Dash (among many other things) as a failure. This is oxymoronic, because nobody hates on failures, especially not for 4 successful years in a row. If you want a quick history lesson, here's a comment I made on where the Dash hate originated from back in 2014 Another, longer history lesson Remain skeptical towards sensational accusations without evidence. Our community is helpful, knowledgeable and more than happy to answer any questions, as we have done many times on this subreddit. Still, we're all only human, have limited resources and we're just one project among many (always among the top, though!). Stakeholders and investors of other projects will always have an agenda to smear what they perceive as competition (I have yet to see our community actively go after other projects, though). Just remember the Bullshit Asymmetry: "The amount of energy required to refute bullshit is at least an order of magnitude larger than to produce it." So it would be very unjust to expect a refutation on the spot all of the time. Prefer taking the initiative by asking the community directly about the claim you're confronted with. This community has proven many times to possess the integrity required to admit to technological shortcomings, but at the same time we'll never hesitate to call out illegitimate claims and accusations, of which there are many, for what they are. The most common and most empty attack is "Dash is a scam".
Dash has surpassed its all-time high price several times
Its developers are publicly known, many by full name
It's still being developed after almost 4 years with an incredible track record of under-promising and over-delivering, a game-changing roadmap & a clear vision of the future
Its technology works as advertised and remains objectively superior to Bitcoin and many other currencies
Myriads of projects copied Dash's features
Look at the wealth of in-depth information linked on this page alone. Look at all the interviews, articles, news shows, podcasts, presentations, conferences, infrastructure, the people and all the money invested into all of this: Does this all really look like a grandiose scam? Why the effort?
More importantly you have to ask the critic just this one question: Who was scammed? The answer usually consists of complete silence or attempts to change the topic. This may sound all very defensive to someone who has never experienced the kind of FUD Dash has faced over the years, but the falsehoods we've refuted above are still being perpetuated by a very lonely but also very loud minority.
Not an ICO project
Regarding Dash's finances: Despite what many people assume influenced by the ICO insanity of the recent past, Dash did not have an ICO and Dash does not depend on 3rd party funding/investors. It is self funded from the blockchain and thus an entirely independent organization that does exactly what it wants, not what any angel investors want us to do. Dash is the first currency in history to achieve that.
Quick incomplete rundown of Dash's features
In fact Dash pioneered almost every single one of its features making it one of the most prolific innovators in the cryptocurrency space. Before Dash invented them, none of these features existed:
X11: power saving hashing algorithm
Dark Gravity Wave: highly reliable difficulty adjustment
Sporks: Multi-phased forking technology avoiding hard forks during network upgrades
Masternodes: Incentivized full node infrastructure through split of mining reward
PrivateSend: protocol level coin mixing without the flaws of CoinJoin
Treasury: Self-funding by splitting of block reward
Blockchain Governance: Voting rights for those who provide our network's backbone
Evolution platform technology: Under heavy development but making rapid progress towards true digital cash so user-friendly that even your grandmother could use it
To re-iterate a previous point: Dash has been copied by several dozen other projects either completely or through selected features indicating a strong approval of its technology within the wider cryptocurrency industry. The most copied feature by far is the Masternode system and the financial self-reliance it provides.
Dash's InstantSend Failure Taught Us How NOT to Implement Cryptocurrency Features
Dash made a mistake. One of Dash’s hallmark features, InstantSend copied the GreenAddress feature in Bitcoin by having masternodes lock the inputs of a transaction so that they can’t be spent elsewhere, effectively making transactions confirmed in 1.3 seconds instead of 10+ minutes. While certainly revolutionary, this innovation was unfortunately implemented and marketed using incompetent methods that caused it to be overlooked for years, as the market cap of Dash imploded to a tiny 0.5% of the total crypto market and fell in rank from #3 to #16. InstantSend was a feature nobody wanted At its start, InstantSend (then InstantX) was worth its weight in hype: It was a shiny new gimmick that supposedly solved some big deficiency in Bitcoin, promising to take Dash to the MOOON. Then, everyone except brainwashed Dash Kool-Aid drinkers kind of collectively realized that no one particularly cared. Bitcoin transactions showed up right away and pretty much always went through, and even waiting for confirmations only took about 10 minutes or so. There was no compelling reason to switch to using Dash over this feature, because it solved a problem that no one really had. Users and merchants having to take additional action was a huge no-go The biggest barrier to usefulness for Dash's instamined Ponzi tokens was having to manually enable the InstantSend option. This wasn’t a problem because it’s so difficult to simply check a box when you want to use the feature, but because most wallets and services didn’t even implement it to begin with. In an ecosystem with hundreds of tokens to keep track of, no one would want to pay Dash some special attention and carve out a little time and effort to implement its special features so it could stand out against its neighbors. This left very few services (mainly the Core client for the longest time) actually enabling InstantSend, and until relatively recently there were not even mobile wallets for both iPhone and Android that could use a feature mainly touted for retail transactions. Despite all that expensive and tireless developer work, in the vast majority of wallets the Dash experience was indistinguishable from that of Bitcoin or Litecoin, the parent projects whose code ungrateful Dash Core steals while talking trash about the devs who wrote it for them. Even worse, merchants and other services had no idea what to do with a received InstantSend transaction. I remember spending Dash some many months ago, and the point-of-sale app not recognizing the payment at all due to InstantSend being used. The ecosystem is much better educated now, but many services still don’t recognize InstantSend due to the simple fact of having to actually pay it some attention and nobody wanting to use Dash because of its price collapse and KuvaNation36 vs. DACH Force Embassy civil war. Implementing InstantSend by default is a public relations experience win The massive MOOON PAAMP for Dash isn’t Evolution vaporware and blockchain username abandonware. It’s default InstantSend. By automatically locking the vast majority of transactions instantly, at the protocol level, now Dash will, on all systems and platforms, have a distinct PR advantage over every other coin. Rather than having to sell exchanges, merchants, users, etc. on how great Dash would work for them if they just took a few additional steps, now the pitch is simplified to “Just use Dash.” Traders will see how effective instant and secure deposits and withdrawals are, particularly for arbitrage opportunities across exchanges. Merchants, particularly online, will love not having to wait or check up on payments, or, even worse, doubt whether or not the payment will end up going through. Customers will appreciate the instant gratification of buying and immediately receiving. In my hopium-induced dream world, implementing an old feature by default will for most have the same effect as rolling out an exciting new feature. Monero got this right Whether or not this is something most Dash Cargo Cultists want to hear, Monero got this aspect right by having its special features enabled by default. While this was pitched as a philosophical issue, in practice it really boiled down to user experience: use Monero from virtually any wallet, expect higher privacy than Bitcoin. By supporting Monero, every service was forced to implement its special features, and therefore its competitive advantage over others. Dash is in essence doing the same thing, only for a project that’s in much less popular (indeed, widely hated as a scam). Dash was before its time, but now it's too late Fierce competition and the decline of the Buttcash adoption movement have made crypto projects struggle for cash, giving Dash’s bloated treasury system a starvation diet. Network congestion has made the reliability of several networks suffer, giving an edge to BSV's 128mb block scaling research and CTOR's increased TPS. And now, in the age of unprofitable X11 mining and easily affordable 51% attacks, InstantSend and ChainLocks promise to instantly make Nakamoto Consensus' longest-valid-chain rule an obsolete inconvenience. Dash lagged in the past because its many useless and broken opt-in features were easy to ignore by the rest of the world. Now with its instamined Ponzi tokens, untested homegrown security, and centralized governance/development, Dashcoin is about to continue being one of the most unpopular and despised scams in the cryptospace.
About some years ago, one of my friends hailed his belief in Bitcoin and explained how he moved his whole life savings onto a hardware wallet and erudite his private alphanumeric key. He sounded like a character from a Neal Stephenson novel-gritty, daring and irreverent of the world’s established banking systems. While Bitcoin has soared since then and made him a millionaire many times over, the question now is if it will continue to rise in value or if it’s already reached its height. A digital currency “crypto currency” that has no tangible paper or physical coin representation. Instead, encryption techniques using computers and open source software generate the currency based on mathematical proof, or blockchains. Cryptocurrencies such as Bitcoin are decentralized: There’s no place like a bank where the currency is held, and a private security key tied to an open source ledger proves who holds the value. 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24 points: Jaxx_adiiorio's comment in Jaxx on Twitter: "This weekend we're giving away 200 DASH ($2400US), to participate have Jaxx installed (all but iOS) & @Dashpay wallet active. More into to come."
20 points: Basilpop's comment in Yea baby, congrats for the $100M market cap!
20 points: wsmithston's comment in With current price Dash's budget allows us to hire 70 developers/testers with 120k$/year salary. No other cryptocurrency can achieve this level of independence from third parties (like Blockstream in BTC).
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE? (354 points, 116 comments)
"Notice how anyone who has even remotely supported on-chain scaling has been censored, hounded, DDoS'd, attacked, slandered & removed from any area of Core influence. Community, business, Hearn, Gavin, Jeff, XT, Classic, Coinbase, Unlimited, ViaBTC, Ver, Jihan, Bitcoin.com, btc" ~ u/randy-lawnmole (176 points, 114 comments)
"You have to understand that Core and their supporters eg Theymos WANT a hardfork to be as messy as possible. This entire time they've been doing their utmost to work AGAINST consensus, and it will continue until they are simply removed from the community like the cancer they are." ~ u/singularity87 (170 points, 28 comments)
3 excellent articles highlighting some of the major problems with SegWit: (1) "Core Segwit – Thinking of upgrading? You need to read this!" by WallStreetTechnologist (2) "SegWit is not great" by Deadalnix (3) "How Software Gets Bloated: From Telephony to Bitcoin" by Emin Gün Sirer (146 points, 59 comments)
Now that BU is overtaking SW, r\bitcoin is in meltdown. The 2nd top post over there (sorted by "worst first" ie "controversial") is full of the most ignorant, confused, brainwashed comments ever seen on r\bitcoin - starting with the erroneous title: "The problem with forking and creating two coins." (142 points, 57 comments)
enough with the blockstream core propaganda : changing the blocksize IS the MORE CAUTIOUS and SAFER approach . if it was done sooner , we would have avoived entirely these unprecedented clycles of network clogging that have caused much frustrations in a lot of actors (173 points, 15 comments)
Dear Theymos, you divided the Bitcoin community. Not Roger, not Gavin, not Mike. It was you. And dear Blockstream and Core team, you helped, not calling out the abhorrent censorship, the unforgivable manipulation, unbecoming of supposed cypherpunks. Or of any decent, civil persons. (566 points, 87 comments)
So, Alice is causing a problem. Alice is then trying to sell you a solution for that problem. Alice now tell that if you are not buying into her solution, you are the cause of the problem. Replace Alice with Greg & Adam.. (139 points, 28 comments)
SegWit+limited on-chain scaling: brought to you by the people that couldn't believe Bitcoin was actually a sound concept. (92 points, 47 comments)
Reality check: today's minor bug caused the bitcoin.com pool to miss out on a $12000 block reward, and was fixed within hours. Core's 1MB blocksize limit has cost the users of bitcoin >$100k per day for the past several months. (270 points, 173 comments)
Top post on /bitcoin about high transaction fees. 709 comments. Every time you click "load more comments," there is nothing there. How many posts are being censored? The manipulation of free discussion by /bitcoin moderators needs to end yesterday. (229 points, 91 comments)
Fantasy land: Thinking that a hard fork will be disastrous to the price, yet thinking that a future average fee of > $1 and average wait times of > 1 day won't be disastrous to the price. (209 points, 70 comments)
"Segwit is a permanent solution to refuse any blocksize increase in the future and move the txs and fees to the LN hubs. The chinese miners are not as stupid as the blockstream core devaluators want them to be." shock_the_stream (150 points, 83 comments)
In response to the "unbiased" ELI5 of Core vs BU and this gem: "Core values trustlessness and decentralization above all. Bitcoin Unlimited values low fees for on-chain transactions above all else." (130 points, 45 comments)
Core's own reasoning doesn't add up: If segwit requires 95% of last 2016 blocks to activate, and their fear of using a hardfork instead of a softfork is "splitting the network", then how does a hardfork with a 95% trigger even come close to potentially splitting the network? (96 points, 130 comments)
I'm more concerned that bitcoin can't change than whether or not we scale in the near future by SF or HF (26 points, 9 comments)
"The best available research right now suggested an upper bound of 4MB. This figure was considering only a subset of concerns, in particular it ignored economic impacts, long term sustainability, and impacts on synchronization time.." nullc (20 points, 4 comments)
At any point in time mining pools could have increased the block reward through forking and yet they haven't. Why? Because it is obvious that the community wouldn't like that and correspondingly the price would plummet (14 points, 14 comments)
Dear Theymos, you divided the Bitcoin community. Not Roger, not Gavin, not Mike. It was you. And dear Blockstream and Core team, you helped, not calling out the abhorrent censorship, the unforgivable manipulation, unbecoming of supposed cypherpunks. Or of any decent, civil persons. by parban333 (566 points, 87 comments)
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE? by ydtm (354 points, 116 comments)
151 points: nicebtc's comment in "One miner loses $12k from BU bug, some Core devs scream. Users pay millions in excessive tx fees over the last year "meh, not a priority"
123 points: 1DrK44np3gMKuvcGeFVv's comment in "One miner loses $12k from BU bug, some Core devs scream. Users pay millions in excessive tx fees over the last year "meh, not a priority"
117 points: cryptovessel's comment in nullc disputes that Satoshi Nakamoto left Gavin in control of Bitcoin, asks for citation, then disappears after such citation is clearly provided. greg maxwell is blatantly a toxic troll and an enemy of Satoshi's Bitcoin.
117 points: seweso's comment in Roger Ver banned for doxing after posting the same thread Prohashing was banned for.
113 points: BitcoinIsTehFuture's comment in Dear Theymos, you divided the Bitcoin community. Not Roger, not Gavin, not Mike. It was you. And dear Blockstream and Core team, you helped, not calling out the abhorrent censorship, the unforgivable manipulation, unbecoming of supposed cypherpunks. Or of any decent, civil persons.
106 points: MagmaHindenburg's comment in bitcoin.com loses 13.2BTC trying to fork the network: Untested and buggy BU creates an oversized block, Many BU node banned, the HF fails • /Bitcoin
98 points: lon102guy's comment in bitcoin.com loses 13.2BTC trying to fork the network: Untested and buggy BU creates an oversized block, Many BU node banned, the HF fails • /Bitcoin
Buying more Vert tonight. I'm writing this more to justify it to myself and my woman than to anyone else, but you're welcome to read.
For some time now, I've had the "hunch" if you will that Bitcoin is not the perfect deus ex machina creation some of us have held it up as being. Post-Gox, post-weeks of media/public narrative traps the Bitcoin Foundation and other prominent Bitcoiners have gullibly skipped and hopped right into like a merry band of misfits, and the fact that the Bitcoin core protocol design has a couple of issues I've always found annoying: why a ten minute block time? It's just too long. The 2.5 minute variation Litecoin came up with is a perfect refinement (and only negligibly increases hypothetical error rates vs. a 10 minute time), and Vertcoin sticks with that. The other concern I've had with Bitcoin is that it so clearly wasn't designed with the advent of ASICs, or anything like them, in mind. Our man Nakamoto was someone planning for a war pre-machine gun. ASICs are the machine guns, and if you say they don't change the landscape, you are a fool. (or the farthest thing from a fool; an ASIC miner :) The best strategists are no match for unexpected leaps in technology. I've done a backbreaking amount of reading and code skimming, and what I've come to a conclusion on is that Vertcoin is currently the most circulated, most fairly launched (i.e. no pre-mine), best branded and dev supported of any coin that -also- successfully wards off ASICs, both in practice and in theory. And even further, Vertcoin is the one that pulls off ASIC resistance using the least number of "gears." Vertcoin clones using X11 are trumpeting a tactic that Vertcoin's developers specifically weren't interested in: overcomplexity as a means of defeating ASIC incentive. If you read what Vertcoin's devs have said on the subject, as well as looked at how Vertcoin's N-factor change would hold up under various ASIC development models, what you see is that this works. A Vertcoin ASIC is of course allowed within the laws of physics and design, it's just not economical. Sort of like nuclear fusion at present stage of its development. By the time you build a working Vertcoin ASIC, the GPUs on the market are even better - and much cheaper. Bitcoin was a bit like the expensive original Swiss automatic watches: beautiful, a wonder to behold, and simultaneously difficult and breathtaking to imagine one person coming up with all of it. But much like an automatic watch, it is wildly inefficient by today's demanding standards because it is limited by its mechanical design, and the finite limits of practical mechanical precision. Bitcoin is mechanically crippled because it didn't foresee ASICs. Period. It may always be in use and valued by collectors, like an automatic watch, but it is simply no match for the quartz movement (which is Vertcoin, I believe). Even a $20 quartz-driven Casio from Costco is infinitely more precise and trustworthy than a $12,000 Cartier automatic. It's nothing personal. It's just mathematics. And there's a reason why Swatch, an ambitious little maker of sub-$60 quartz watches, eventually overtook nearly the entire Swiss watch market. Today, its parent Swatch Group owns Omega and Longines, some of the highest end luxury automatic makers. Eventually, simple and relentlessly precise dominates the marketplace. Appeals to heritage and aesthetic design are simply no match. I believe N-factor scheduling as currently implemented in the Vertcoin protocol fends off ASIC development now and in the future. An ASIC, by its nature, must be custom built to a specific algo. The high memory requirements and scheduled changes just make this an economically unattractive prospect for ASIC makers. And there's a big difference between an actual ASIC present in the physical world, and a self-proclaimed ASIC designer on a forum going "yea dude, we could totally do Vert also." He might be able to do it, given enough financial resources and a large enough price per Vert, but the finished product that rolls off the factory floor certainly would not be substantively superior to available GPUs at the same time, certainly not significant enough to make it a sizable part of the network. And I believe the KGW implementation fends off a variety of multipool dominance scenarios, although not all. Combine this with the dev team's repeated assurances that ASIC resistance will be maintained at any cost (up to and including a hard fork), what you get is a coin that appears to be both by ideology and by design not capable of being centralized on ASIC-run farms and not likely of being centralized on one or two multipools for any long stretch of time. Vertcoin is the two tour Vietnam vet who makes it openly known he owns a shotgun or two, and if anyone tries to rob a single thing in his trailer home, he will burn the entire place to the ground with himself inside. Not exactly the welcoming community that ASIC makers, who are already shouldering enormous speculative risk, are looking for. Therefore, this coin will maintain a level of decentralization that Litecoin and Bitcoin can only dream of returning to and maintaining. At this point, the problem is solved. Vertcoin is the quartz movement, here to stay and just biding its time until rapid mass adoption (remember that quartz watches didn't take off immediately, either). And just as you can design and market a really complex quartz movement, you can make a Vert clone with all kinds of interesting additions to fend off purely hypothetical ASIC designers who are not constrained by worldly concerns. These clones are like the specialty watch that promises waterproof operation until 1000 meters depth (as if you'd ever get a chance to test it). Sure, they may find a niche market, but quartz movement is quartz movement and that technology is here to stay and it works perfectly. And aside from all this, I think there's a lot of money on the sidelines aching to get into the next big crypto - there's also money that's been scared off by Bitcoin's PR stains (Silk Road, Karpeles/Mt. Gox, etc). The first one to show the marketplace it is money, precisely like Bitcoin but without the baggage and the mystery and ASIC Achilles Heel -and- with the burgeoning fanaticism of Doge, without any of the dumb... well, I believe that one is going to be worth very much indeed in no time at all. Thanks for reading gentlemen.
Litecoin's algorithm is designed to produce about four times as many coins as Bitcoin does - producing one coin every 2.5 minutes (whereas Bitcoin produces one every 10 minutes). So, the speed of ... Litecoin Versus Bitcoin: Whats the Difference? Stories about cryptocurrency fill the headlines, such as the one about a man who purchased $27 in bitcoins in 2009, forgot about them and then discovered they are now worth $980,000. Stories like these spark interest and fuel the question Should I invest in cryptocurrency Whereas bitcoin uses SHA-256, other coins may use the likes of X11, Keccak, or Scrypt-N. All of these algorithms have their own benefits and requirements to keep mining competitive. Below are some of the different mining algorithms to be found today, and how they compare to one another. 3. Scrypt Just like bitcoin, litecoin is a cryptocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee . The motivation behind its creation was to ... Dash uses a chained hash algorithm known as X11, used for Proof of Work (PoW) calculations. Chained algorithms make Dash mining easier than other cryptocurrencies. For instance, GPUs require 30% less electrical energy than Litecoin and even heated 30% to 50% lesser.
2017 Genesis Mining / Day 21 at 1000 MH/s Dash x11 $$$$
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