I woke up this morning, and checked out gold.org on my mobile. Hmm - BTC down, BCH is treading water and DASH is up ! Whoa ! So I bought my first DASH today.
Why is DASH up?
People are fleeing the BTC camp and putting their cache somewhere they have access/privacy/reasonably stable store of value.
Will DASH replace BTC?
I don't know.
I think altcoins are going to have a very interesting week ahead as BTC sellers look for somewhere safe to stash their cache. NEO should do well - for people seeking value.
This is an extract from something I read last night (Tyler Durdin, ZeroHedge):
In an interview at the Ethereum conference, Vitalik Buterin said,
"If the token is being burned, then you have an economic model that says the value of the token is the net present value of basically all future burnings. [Otherwise] it's just a currency that goes up and down. It feels kind of like voodoo economics and the price of the token isn't really backed by anything ... introducing some kind of sinks into ethereum is definitely something we're looking at. By sinks, I mean fees that lead to the token actually being destroyed."
Another option [to limit ethereum and hence drive up its value] suggested by Buterin in the interview at the Ethereum conference was removing it from circulation. He is examining all of the ways to promote value. Interesting. In this way, he protects Ethereum value and longevity. He also suggests the right way for ICOs to launch their product. They need to have a product or idea ready prior to launch, not a promise that the ICO will have a product ready sometime in the post-launch period. That's too late. In my opinion, [me, @KatyClark] this is one reason why Electroneum will succeed, once it has sorted out its initial stuff-up. It has mass adoption, a product ready NOW ... well, just give it a few weeks to sort out the teething issues. And with so many clients already onboard, it has a pre-packaged customer base ready for any game developer to target.
You can read the Zerohedge article here:
Tyler Durden, Ethereum's Creator Mulls Limiting Supply In Novel Ways
Nov 11, 2017 9:50 P
http://www.zerohedge.com/news/2017-11-10/ethereums-creator-mulls-limiting-supply-novel-ways
Image source:
http://www.specialforces.com/custom-apparel-and-personalized-gifts/sfg-clipart-library/space-2?sfg_graphic_id=59380