It's easy to forget how far we've come in so little time. A decade ago free-market money in digital form was a completely foreign concept to 99% of the world. Now, pretty much everyone I talk to knows about "blockchain" and "bitcoin", and we have hundreds of teams working to make free-market digital cash a reality. A few of those teams have really compelling products - it's no longer a science project - and Dash is leading the way.
I am continually checking the wider landscape to see if any projects besides Dash are starting to catch up to us. I see great innovators and hard work, but I don't see the progress that I see in Dash. Our closest competitor is Bitcoin Cash. They seem to have the right vision, digital cash, and they have excellent engineers and a passionate community, but something is missing.
Several large Bitcoin Cash mining pools recently announced a proposal/plan to start paying developers with part of the block reward
. The concept is the same as Dash (pay developers with inflation), but the distribution mechanism is vastly different. I've been closely following the discussion and debates in btc
and it's been fascinating to see the reactions. Some general trends I'm seeing:
- Many are opposed because they consider the plan a "coercive tax"
- Many are opposed because the funds will be controlled by a Hong Kong corporation
- Some are opposed because it may increase centralization and decrease security
- Some are opposed because it gives more power to big miners
- Others are opposed for the opposite reason, that it takes power away from miners
- Proponents consider the need to fund developers outweighs the risks and costs above
- Both proponents and opponents are concerned it will cause another chain split
What I'm grateful for is that Dash has worked out many, if not all, of these issues already. We are paying developers, and we have control over who gets the funds, how much they get, and for how long they get them. For the most part we don't care if funded entities set up corporations to run their internal affairs or not (we can always defund if a problem arises with either approach for a specific scope). While the specific funding decisions can be difficult
, the process is smooth, and getting more streamlined every month. We don't consider our superblock to be a "coercive tax". Those who do have already left, can leave at any time, or simply don't join. It's all understood, and is completely voluntary.
We just finished another successful month of funding
where we voluntarily paid developers, marketers, and other workers roughly 5,700 DASH (~$655,000) for the value their work has or is expected to bring to Dash. That's how the real world operates - people do valuable work and they get paid for it, mutual benefit, every transacting party is happy (or at least should be).
And while we're on the subject of this month's payouts, I'd like to add a few of my observations. I was pretty happy to see how the funding shook out. I've had my criticisms of the Dash Investment Foundation, but they took action (revised their proposal at a lower cost) to address one of them
this month. Whether my or other people's input had anything to do with their revision doesn't matter as much as that they made the revision, and their proposal passed. I expected Dash Force to resubmit their proposal with a lower ask. There was plenty of time to do so. I didn't want them to receive zero (their work is more valuable than zero), but it seems I was not alone in the opinion that the juice was simply not worth the squeeze with that proposal. I hope they re-evaluate and come back next month with a more compelling value proposition. Speaking of value propositions, one last observation about this month's superblock: If you haven't already, check out the DACH's DCW marketing proposal
. I was skeptical when I first skimmed it, but when I came back to it later in the cycle and read it through all the way (including the resources they linked to) I was pretty impressed by the thought that went into it. I'm cautiously optimistic about its potential.
I'm truly grateful for our independent Dash contractors. It takes guts and heart to submit proposals. It's not always the most rewarding job. I'm grateful all of you who put in proposals, and keep coming back, especially after you get kicked in the teeth by MNOs
. Those of you who have not been through this process don't have much justification to complain.
I know this is a long post, and thank you for reading, but I'd like to circle back to Bitcoin Cash. I said they were missing something. What? They really are missing two crucial components.
- Governance - They have to rely on social media platforms and hash wars to make decisions. It's clunky.
- Funding - They have to rely on donations (time and money) and/or outside interest groups. It's dangerous and slow.
I don't see Bitcoin Cash figuring out either of these things anytime soon. I've seen the debates, it's not an easy situation for them. I honestly hope I'm wrong and that they do figure them out, because I want stiffer competition for Dash, and more options for digital cash. For now, and for the foreseeable future, I'm just grateful we have Dash. We're getting closer to user-friendly digital cash every day.