Will Bitcoin reach 80-20 Pareto Dominance again?

felix.herrmann (65) in bitcoin • 5 years ago

looks like it, even though BCH and DASH offer way better peer to peer electronic cash.

https://coinmarketcap.com/charts/#dominance-percentage

5 years ago by felix.herrmann (65)

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stayoutoftherz (68) · 5 years ago

Ich glaubs nicht, zwischen 70 und 80% ist noch ein Riesensprung.

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1 vote

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zuerich (61) · 5 years ago

Yes, at least 80%.
BCH and DASH may be faster and may have lower fees, but regarding 2 factors they lag behind BTC massively:

Security
Scarcity
or basically the security that scarcity will be upheld.
Bitcoin has not been invented because Visa and Paypal were too slow or too expensive.

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2 votes

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felix.herrmann (65) · 5 years ago

i am holding some DASH just that you know

Since the introduction of chainlocks Dash is probably as secure as Bitcoin.
Maximum Supply is 18.900.000 Dash, so right from the start far more scarce, furthermore about 4,9 Million Dash are bound within Masternodes (1MN = 1000 Dash), so additional scarcity provided.

The only thing Dash has not is network effekt (and the name Bitcoin).

for BCH you have to ask @rogerkver

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3 votes

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zuerich (61) · 5 years ago (edited)

I did, too (quite a lot actually). I liked Dash's concept, the speed and the communication by some developpers (like Alexander Block).
What I did not like, was its marketing. Not how they do marketing, but the fact THAT they do marketing. The fact that they have a marketing budget shows that this is a kind of company / startup (with all its advantages and disadvantages).
Bitcoin on the other hand is none of that. Bitcoin is anarchy. Bitcoin is an uncontrolled organism that won't be governed by anybody (or by everybody - which is basically the same thing).

That's why I reduced my Dash holdings (step by step) within the last 2 years to 0.

Concerning your points:

chainlocks may give DASH theoretical security, whereas BTC offers practical security (partially because of its network effect, its decentrality, the amount of computational work, liquidity)
The sheer number of coins (1 million or 10 million or 1 billion) doesn't matter. Relevant is the stock-to-flow ratio and the security you have that this scarcity won't be changed. Bitcoin's focus on that scarcity is crystal clear. This is a thing the BTC developpers and/or miners will never change because it's the core selling proposition of BTC (and even if some developpers did change the monetary scheme, immediately there would be a fork and the chain with the better scarcity would win). Because Dash is more centralized (Masternodes, etc.) I can't rely on the hypothesis that Dash won't change its monetary scheme.

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fabio (67) · 5 years ago

Chainlocks gives practical security. It makes it more expensive to attack Dash than BTC or any other fork of the idea "Bitcoin".
As for the Marketing...The DAO has a budget of 10% that goes to those who apply for it and get voted by the Masternodes (Full Nodes with a Stake). Most of the money gets allocated to the Devs of Dash Core Group, in order for the DAO not to rely on external funding and the Devs getting hired by a company like Blockstream.

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2 votes

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zuerich (61) · 5 years ago

Is it practical if Dash's network is that small that nobody is interested in attacking it?
Who financed the budget?
Do you still think Dash stands a chance to go back to a market cap of 10 trillion USD?
To topple BTC you'd need a new SoV and MoE that is 10 times better than BTC.

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felix.herrmann (65) · 5 years ago

Bitcoin on the other hand is none of that. Bitcoin is anarchy. Bitcoin is an uncontrolled organism that won't be governed by anybody

I wonder why you are on Steem then, as it is controlled by Whale/Witness Structure and Steemit Inc?

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2 votes

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zuerich (61) · 5 years ago

Honestly - mostly for fun.
I don't consider Steem to be money, but to be a kind of spending token.

I like the community, the spirit of many Steemians, the content I can read here (a bit too much of conspiracies, but that's another topic ;-)) and I like the system that I can reward content producers directly. I haven't seen such a thing in any other place. I like being able to incentivize Steemians to continuously produce content here (though my stake or the price of Steem currently is too small to incentivize people substantially).

I don't like the Whale structure and I think Steemit Inc. has been managed very poorly (possibly Ned doing too much coke). I think the premining of Steems was not the perfect start. But I think Dan, Ned and some Whales did the work in the beginning and they have earned a substantial stake of Steem.

I think and hope that the community (in cooperation with the new management of Steemit Inc.) can take over and - step by step - improve the governance of our network, the reward mechanism and the user experience (e.g. Steempeak).

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1 vote