A few weeks back I was on an episode of NeoCash Radio, discussing the latest cryptocurrency trends, when a co-host mentioned that Dash isn’t “sexy.” The co-hosts of the show are big fans of Dash, but noted the lack of hype surrounding it in the crypto trader world. I tend to agree.
Now don’t get me wrong, I’m very excited about Dash, moreso than about any other cryptocurrency, because I have reason to believe it will truly revolutionize and upset the financial system as we know it today, freeing the world economy as never seen before, particularly for the unbanked. That’s not what this is about. This is about the speculative traders who buy and sell tokens all day long turning a cold shoulder to Dash. It’s true, but it’s not a problem, and perfectly to be expected.
Traders go nuts over volatile coins
Crypto day traders love the constant rise and fall of coins. Everyone wants to jump in on the next big thing at pennies per coin, watch it go to the moon, and sell before reality sets in again. Some coins rise and fall several times, offering many opportunities for traders to feel that renewed sense of speculative thrill. This feeds into the excitement and danger of risk as well as the feeling of getting something from nothing other than one’s own mastery of “the game.” The long-term investment game of picking something promising and sitting on it, watching it go higher gradually over time, just isn’t the same animal at all.
Dash Core’s track record of under-promising and over-delivering
By now many of us are aware of “Fluffygate,” where the lead Monero developer promised a massive announcement only to reveal it was all a joke, causing markets to spike and crash, with many in the community calling for his resignation. While those sorts of antics might be exciting to traders, they aren’t necessarily productive for the long-term developmental goals of a coin. Contrast that with Dash Core, which is about as polar opposite as you can get. Between never-broken privacy to the world’s first instant permanently settled transactions to a fully functioning decentralized autonomous organization, all the best achievements by Dash are presented with measured caution by its developers, leaving people like me to make sure the rest of the world gets their significance. From the sounds of it, Evolution will be a radical improvement on the cryptocurrency field on just about every level, yet announcements on its planned features, including timelines, remain relatively muted to the public. While this under-promise over-deliver strategy is great to build long-term trust in the project, it doesn’t exactly give a lot of hype for speculators to feed off of.
Stability is key for a successful currency
And yet, complain though we may about the lack of interest from traders, it’s the natural byproduct of stability, which is a must for long-term viability, particularly as a currency. I make my living in Dash, and it helps when I don’t have to worry about the bottom falling out of my salary at any moment. The value derived by people like me extends beyond the pump-and-dump to long-term holding and everyday use. The value changing slowly itself has value.
Is Dash “boring?” Only for speculators. For the rest of us, being able to live off of peer-to-peer digital cash is more than exciting enough.