Darkcoin/DASH: Tips for the Team
First, about me. I’ve been investing in the crypto space for years now and I’ve been somewhat lucky. I bought into Bitcoin after Sam wouldn’t stop talking about it. Ethereum I discovered at a meetup in Toronto although I didn’t get any for the longest time. Since then I’ve graduated from the University of Toronto, moved cross-country and back. I’ve sold paint, home outfittings and been a research analyst at a consulting firm. I am not a technologist.
Despite not being a techie, I have been around the crypto space for a while. I get some things. I don’t get others. With that as context, I want to offer my opinions (operative word: opinions) regarding an intriguing crypto investment, DASH (formerly known as Darkcoins).
I, like many folks in the burgeoning crypto community, have been anxious with what’s happened over the past few days; the SEC announcement, rise in ICOs, bitcoin fork. I’m worried that the DASH community is going to needlessly fumble an amazing opportunity to use proposal funds for the benefit of the ecosystem. So I’m going to armchair quarterback a couple of issues. Apologies in advance.
This is the white elephant in the room. We need to tackle this but with not precedent, it’s difficult to claw forward. In the military, when going to battle one has to plan every possible defence against the oppositions attack. Therefore, DASH needs to develop a virtual war room. Get the brightest students and practitioners from the best law schools, divide them into two teams. Have one team develop a set of possible/probable securities laws guiding cryptocurrencies and the other team has to create ways to subvert it. This could be done in the form of a proposal where contributors are rewarded with the development fund and the whole process is carried out online. With this knowledge, DASH can arm itself and the whole blockchain space with ammunition against restrictive regulation. Admittedly this might lead to unforeseen retaliation from the powers that be but someone should be thinking about it.
eduffield should take the necessary steps to make sure he’s on the right side of the law so he does not become a target for the authorities when they want to make an example in this space. I hope he’s paying his taxes because if not, game over. Same goes to babygiraffe, moocowmoo and all the other public faces and potential bag holders of the Dash community..
America is your worst enemy until the SEC and CFTC properly define their stance on cryptocurrencies. This one goes two ways, maybe if we play to the governement they might support DASH as a home-grown technology but that is highly unlikely. Infact, Decred will be a better choice for a governance coin given its more equitable rewards allocation mechanism. All I’m saying is a different operational headquarter should be created outside the US in the case of a fallout
Get a bunch of institutional managers on the team. Allocate some of the subsidy funds to them and invest in promising technology. Even if DASH doesn’t end up as the currency of the world, it can be a very valuable GPO. If another currency becomes a reserve, DASH needs to have a significant stash and use that to build and maintain value. As it stands, DASH is the only cryptocoin that can do this.
There should be a ‘dash dare’ for safe and bold marketing gimmicks. For example, have 50 people wearing DASH gear organize a flash mob in a major city. Or get 100 people to dash across a public city park during a meetup. Post the proposal and details of the activity before hand, execute on proposal, and get paid after the fact. This is the guerilla marketing we need. Get on the main news network.
Let’s wrap this up…
None of these will guarantee price appreciation but they will dramatically help long term survival prospects for the DASH platform.
I have just enough money invested in DASH to care. Why? Because you’ve built a great community with a huge budget that expands the window of possibilities in this space.
(Inspired by Jimmie Schrute’s article on Antshares/NEO)