Manage episode 196909019 series 1299828
In this bonus episode Scott yaks with fellow ancap and crypto lover Jake Bryan.
BE WARNED, THERE ARE AUDIO ISSUES WITH THIS EPISODE!!!
Scott, having been a big bad podcaster for a little over a year now didn't think he needed to do a routine sound check
before recording this podcast, resulting in some electronic interference leaking into the final mix. The good folks at
PAX Libertas Productions would like to assure you that he is being dealt with accordingly...
At the end of the day we think that the information contained in this episode is worth a listen, and we we're able to fix it up a good bit, but you should do so at your own risk.
After praising Dash in episode 33 of the Ancap Barber Shop, some potential issues with the coin have been brought to our attention that are at the very least worth a mention. What's the final verdict on Dash? Let us know by sending us an email at firstname.lastname@example.org.
If you'd to talk to contact Jake, you can do so at jakebryan.me
Jake references a video regarding one of the people that were on the board that created Ripple (XRP).
The criticisms of Dash we referenced are presented below:
"(1) It was built on fraud; some guy named Evan cloned the Bitcoin code then premined it in his closet for two days while purposefully blocking other miners from submitting blocks. He claimed it was a mistake or a bug after he raked in a couple of million coins. When questioned, he mocks the investor asking the question and acts really weird never really explaining what happened; he implies that he deserved the premined coins because he put "his entire life in the computers in that closet" Video here: https://youtu.be/0EG2km7GAmM?t=2834
(2) He promised to give them back to the community and he never did; he lied. He now claims that by holding the coins, he is helping the community. Video here: https://youtu.be/0EG2km7GAmM?t=2834
(3) They lie in their marketing, claiming that it's a totally anonymous and private coin. This is an outright lie and it puts people on the black market in danger. A bunch of smart people from Princetown were able to achieve 100% success in tracing Dash wallets on the network. Dash is not anonymous or private and using it puts you in danger; Do not believe their marketing lies and never use Dash on the black market: https://arxiv.org/pdf/1709.02489.pdf
(4)They purposefully created master nodes to lock up a majority of coin supply and artificially increase price so that Evan can own a majority of them and continue to rake in fees from the dumbasses who use his network and making him even more rich by using his original pre-mined coins to extract even more funds from the network users. There are currently 4,766 master nodes on the network, putting 4,766,000 DASH out of circulation out of 7,774,607. Well over half of all DASH in existence is locked up creating artificial scarcity in order to inflate the price so Evan can profit even further.
(5) Evan has a master key that allows him to invalidate all transactions on the network for the previous 24 hours. More details here: https://www.reddit.com/…/just_a_reminder_that_dashs_strate…/
(6) Dash is openly being called a scam by some of the best and smartest people in the crypto world.
FluffyPony discussing Dash at length as a scam here: https://www.youtube.com/watch?v=VrKU0Ymta-U
Charlie Lee: "Dash is trash."
Peter Todd: "Dash is snake oil."
Greg Maxwell: "Dash is not cryptographically secure at all."
Is that enough for you?
If you choose to participate in a coin built on fraud, that is your choice. Dash has made serious gains in price in the last year and if your goal is to turn profits, so be it. I personally cannot support this project for many reasons. Make your choices wisely."
We hope you enjoyed this episode, Worms!
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