Dash Core Group plans to let go 8% of the​ir staff

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On March 7, 2019, Dash Core Group (DCG) plans to let go approximately 8% of their staff, says in their official announcement by the company’s CEO Ryan Taylor. They are about to remove their Human Resources team, remove 2 people from the Strategy team and one person from the Business Development team. 

What is Dash Core Group? Source: dash.org

Tough decisions to maintain financial stability

As Ryan Taylor writes in his announcement, Dash Core Group faced tough decisions to maintain the company’s financial stability. The main reason for this is the long-lasting “crypto-winter”, which affects the majority of crypto companies around the world. It looks like the last several months for Dash Core Group have been mostly about reducing their budget. Also, the company is in a “hiring freeze” mode for about 6 months now.

However, earlier in December they claimed that “DCG is not at risk of shutting down anytime soon, or of any significant cuts in staffing levels in the near term. We have a significant buffer in place to withstand the impact of the market bottom, whenever that comes.”

Altogether, Ryan describes that this six-month-long period resulted in “some natural turnover to have an effect on our expenses as well.”

Staff reduction is not related to the performance of Dash Core Group

The CEO explains that their primary focus remains on the development of the network. He also highlighted the rollout of the Evolution. In order to not disrupt the primary focus, they decided to reduce several business functions like:

-The elimination of Human Resources

-Laying off two people from the Strategy department

-Laying off one person from the Business Development department.

These reductions represent 8% of their staff.

Operational changes

However, this does not mean that HR department will no longer function within the company. That also applies to Strategy and Business departments.

Many HR related duties will be shifted to individual managers. Glenn Austin, the CFO (chief financial officer) will be the primary contact point for HR related topics.

“Strategy projects will transition to each of the functions with whom the strategy team had been supporting. Operations will assume maintenance responsibilities for the metrics and reporting tools that the strategy team recently created,” explains the annauncement.

However, Ryan himself will take a larger role in Business Development.

The announcement ends with a supportive message to the ones affected in the lay off: “We wish nothing but success for those impacted and I want to thank them personally for the lasting contributions and commitment they demonstrated to both DCG and the network.”

What is DASH?

Dash is one of the most well-known cryptocurrencies. The coin was first launched in 2014 under the brand name Xcoin. It was founded by Evan Duffield. The cryptocurrency currently is the 15th coin by total market cap. During the December bull run, it reached a total market cap of 3.4 billion USD. The price of 1 DASH currently is $83.31.

Dash price chart. Source: coinmarketcap.com

To read more about the unique features of DASH and its real-life implementation, read our explanatory article.

Source:

https://www.dash.org/forum/threads/planned-reduction.43620/

Photo by flickr.com

WARNING! Don’t even think about crypto investments until you read this!

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I remember it like it was only yesterday when all the coins and tokens were booming and you could get massive gains in every crypto asset you invested. It was the crypto investments bull run of 2017. It all looked so easy and it almost felt like this could go on forever. But it was just a big bluff since I and my friends weren’t with a financial background, and only got into cryptocurrencies in May 2017.

The first crypto investments – Bitcoin and altcoins.

Me and my friends started talking about cryptocurrencies in early May 2017. My ex-girlfriend had been talking about this thing called Bitcoin and I started reciting it to my friends. The more I talked about it, the more I understood it in the sense of a great investment opportunity. It was the time when Bitcoin was around $1,200. I told them that it is a new form of money, only fully decentralized, with no one able to shut it down or take full control of it. That it is a great opportunity to invest because ever since it is created, it has seen only a rising pattern (at least that’s what I thought back then).

It seems like I was very persuasive and they really understood my arguments, because the next time I saw my friends, they had already registered in this thing called “Poloniex”. At that time, as I already mentioned, neither of my friends had any economic or financial background. I didn’t even know that there are such things as exchanges, hence Poloniex.

The first trades

So we put our heads together and started looking at all the assets, charts, prices. Everything seemed like out of this world, and needless to say, we didn’t understand anything. My friends bought a little portion of Steem (STEEM), Ripple (XRP), Stratis (STRAT), Litecoin (LTC), Siacoin (SC), Folding Coin (FLDC) (I know, right?) and Dash (DASH). Why we invested in those particular assets, I have no clue. It just seemed like the way to do. My friend, who found out about Poloniex kind of lead me into this. However, when we sat down, and he showed me how everything works, and at first I bought into Ripple. But I kind of didn’t believe Poloniex, I switched to Bittrex. Later that paid off.

Trading history of my friends first trades

The first profits

As you can see in the picture, my friend quickly got to know how trading works. So very early in the game, he picked the first “fruit” in the form of crypto profits. At that time the total market cap was around $80 billion and Bitcoin’s price was a little over $2,2k. Of course, we had no idea that it was forming onto the biggest bull run in crypto history.

However, I kind of didn’t believe altcoins at first. Mostly because I didn’t have such high profits as my friend. Since I knew a lot about Bitcoin (a lot at that time, enough to understand that it was the first cryptocurrency), I invested in Bitcoin.

Of course, when I later saw how my friend was making even more money from altcoins, I started investing in them as well. Little by little, we got to know the secrets behind crypto trading. We found coinmarketcap.com, and similar websites where we could at least read about what we were investing in. We began buying more and more coins, based on what those companies were promising to their investors.

Investing in Initial Coin Offerings (ICOs)

Since I didn’t have much luck in trading altcoins, I stopped doing that and sort of was educating myself about cryptocurrencies. I watched my friends investing in them daily, we talked about their crypto investments and later on, I researched them. In some I believed, in some not as much, but basically, I was accumulating more Bitcoins.

Later our discussions changed as they started talking about this thing called ICOs. They said that it is so easy to gain x10 profits and even more. You just have to use MyEtherWallet, buy some Ethereum and look for most popular ICOs. It all sounded too easy. However, they got huge profits out of these crypto investments. But those profits were crypto-wise, not fiat-wise. Later on, they had invested in more than 20 ICOs and the flat where they resided almost started to look like a full-time office. To me, it all looked so sketchy. I just sat behind and observed their success.

The biggest Bull Run in crypto history

After a couple of months, in late 2017, they were almost like professional crypto investors. They used all the opportunities that crypto handed over to them. They signed up for countless Airdrops, used Steemit to accumulate more crypto and with profits gained from steemit they invested in more crypto projects and ICOs. At that time, day by day crypto assets were rising at unbelievable measures and it seemed like you could invest in almost everything. They went from a couple of thousands to a couple of tens of thousands. I remember my friends 28th birthday when he said that now he has up to $28k in profits. We talked about what he could do with that kind of money and how his life could change, but eventually, he didn’t cash out. Now it seems like the biggest mistake, but as we say – you only learn from your own mistakes.

From $0 to $40,000

My other friend, on the other hand, didn’t have any funds to invest with, so he used Steemit to raise his capital. Now looking at what he did, it almost seems unbelievable, because he went from $0 to approximately $40,000. You could say that they got really lucky with the projects that they chose. Of course, they also invested in a few scam projects and lost their money, but that is not even comparable to what they had gained. At one point they profited more than $1k a day, so they came up with a plan: $100,000 challenge.

Considering the number of profits, it is needless to say that we, people with no financial or economic background, talked a lot about how we would spend this money and basically, we were shocked but very satisfied at the same time with our ongoings. All the provisional ideas, what if, and when that will boom to this amount was an everyday part of the discussion.
They invested very early is projects like Antshares (now NEO), Bitquence (now Ethos), Dent, and Substratum. $20 turned into $2,000. To me, they seemed like absolute crypto-guru’s.

Me on the other hand, I hadn’t invested in any ICOs at that time, because all the “MyEtherWallet”, “Gas”, “decimals”, and overall – “sending my money to some kind of a project which promised a revolution in the world” seemed a little bit odd.

“Money that comes easily disappears quickly”

Just recently I approached him to ask how he’s doing. It’s not like we don’t communicate since the bear market started, but the discussions about crypto have decreased to a minimum. Mostly it’s because the last drop in the sea for him was the hack of his Ether wallet. He lost most of his funds and investments. His biggest mistake was that he held all those assets in one wallet and was not cautious enough about the security. When I asked whether he plans to invest further in the future, he was positive. And that is understandable because the bear market kind of makes you think about your past decisions. I couldn’t leave without an interview, so I asked him to comment on what he would have done differently and a few words about his experience and future advice:

“Money that comes easily, disappears quickly. I have no idea what would have I done differently. It’s hard to say what would you do if you had another chance. I would have definitely cashed out. It’s like I thought that I will earn a lot of money, but you have to work hard for a lot of money and you have to understand what are you doing. You have to take profits. I didn’t have any education. The amount of money I had profited completely made me blind. We did almost anything that crypto offered, we tried this, then that, all in a row. I remember that time as some kind of euphoria, it didn’t seem like it would end at all. It seemed that real-world crypto adoption will happen instantaneously. To me, it felt like I needed to get as many coins as I could.”

Good or bad experience?

So I asked whether crypto did more good or bad to his life since he carried such a harsh story on his shoulders. He replied completely positively. No regrets is his motto of that day since he learned so much about many different industries, mostly economics, finance, money and things related to that.

“My main mistake was that I didn’t accumulate more Bitcoins. Every day I had that feeling that I needed to get more bitcoin, but I didn’t. I bought more and more altcoins. The fact that I didn’t cash out, basically means nothing, I needed to accumulate more bitcoin. Everybody told me and I read a lot that your portfolio is based on Bitcoin. So yeah, if I regret something then this is that. But the amount of knowledge I gained from crypto is unbelievable. I learned so much!”

It turns out that before he got hacked, he had more than 50 different assets. Now that’s hoarding!

Advice for the next bull run

Don’t follow the hype

As we experienced previously most of the massively hyped projects in crypto are now down almost 98% since their peak prices. These type of investments are mostly based on the hype that the community generates. Be smart. The saying “buy the rumor sell the news” is there for a reason.

The biggest losers from ATH. Source: onchainfx.com

Take small profits, don’t be greedy

It’s much better to take small profits like +2% or even +1% in the long term. Don’t be greedy, and don’t expect your investments to rise more than +10% to +50%. It will most likely never happen again in crypto. For daily stock traders, there is a “1% risk rule”. This keeps your capital losses to a minimum and avoids harsh market conditions. You can achieve this by using targets and stop-loss orders. The provisional idea is that if you take a 1% profit on every trade you make after a year you can grow your capital by +365%. Think long term, not short.

Follow your gut/heart

Most of the times, you kind of feel when the market is starting to switch directions. Again – don’t be greedy and do what you think is best for you. If you have a feeling, based on your experience and knowledge – follow it. It is better to take profits on +1% – +2%, than rather loosing -10%, or even everything on your trades or investments. Most beginner traders have this feeling that I won’t get this chance anymore, so I have to use it 100%. That is false. The market is constantly evolving and more projects and institutions are coming in, so don’t worry about your single trade.

Cash out everything to fiat

While some experts say that Bitcoin mass-adoption is a 50-year long-term plan, it is highly unlikely that the broader society will switch to only Bitcoin or even cryptocurrencies in general. At the moment, and for a couple of years from now on, fiat will be the main form of money and as they say “a bird in hand is better than two in the bush”. I’ve heard stories from many investors, that they cashed out everything to fiat when the bull-run started to emerge. They took all the profits when Bitcoin was at $9000 – $10,000. Of course, they could’ve profited more, but how do you think – are they regretting something at this point?

Educate yourself constantly

There is nothing more valuable than education. It won’t do no harm to you or your investments, only good. You have to stay up to date. Learn more about the industry that you have invested in, and know every little detail. It will grow your confidence in regards to your trades or investments.

Do your own research

This binds with the first advice – don’t follow the hype. You have to research the assets you are willing to invest in by only yourself. At this time, when social marketing and the internet, in general, is constantly evolving, you have to understand, that nobody will share valuable information for free.

Further, this also applies to your gut and nerves. You will feel constant anxiety in those cases when you follow a different opinion rather than yours. On the other side, when you build your investments only based on your own knowledge, you will feel more safe, and secure about your decisions.

Never invest money that you can’t afford to lose

There are countless stories of people investing their life savings, mortgaging properties, applying for loans, and in general, investing more money that they can afford. These actions are at very high risk, and almost never pays off. Again – it is better for everyone around you if you invest only the amount that you can afford to lose. Even if that is only $10, you will feel more calm and balanced. Because at the end of the day – these are investments, which are meant to improve your life, not destroy it. Crypto investing is unique in its base – you can invest small amounts in almost every kind of a project. As you saw in the pictures above – crypto investments of as little as $7 dollars can gain you multiple thousands in return. And it is definitely better to lose $7 dollars rather than $700.

“Be happy about what you have, not what you could’ve had!”

However, this is not financial advice. I don’t have a financial degree. This summary is only based on my and my friends experience. Do you own research and don’t base your opinion on somebody else. And most importantly – educate yourself! 

Photo by Chris Liverani on Unsplash

What is Dash (DASH)? A Beginners guide

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Dash is one of the most well-known cryptocurrencies. The coin was first launched in 2014 under the brand name Xcoin. It was founded by Evan Duffield. The cryptocurrency currently is the 15th coin by total market cap. During the December bull run, it reached a total market cap of 3.4 billion USD. After a year, founders rebranded Xcoin to DarkCoin which resulted in negative media attention. Media constantly linked the coin to the dark web. In 2015 it rebranded to its current name DASH and stayed like that ever since. Additionally, it is very unique and outstanding with its blockchain technology in comparison to other coins. It uses multi-layer blockchain enabling different kind of transactions with each-unique characteristics pegged to one coin. DASH masternodes do all the major decisions on its network. Besides, there are standard nodes and miners that participate in blockchain maintenance.

Masternodes

A Dash masternode consists of 1000 coins. It gives you an annual interest of approx. 7% (measured in the cryptocurrency) which equals 45% of all block rewards. All masternodes receive approx 45% of all the coins created. To keep a Masternode you need a static IP address, at least 1 GB of ram, 10 GB of free disk space and a stable internet connection.

Unique features

Many people think that Bitcoin transactions are anonymous, however, they all can be tracked through public blockchain. However, DASH offers a feature called “Privatesend”. It makes a completely anonymous transaction through the network.  Another feature which is rare in cryptocurrencies is instantaneous transactions. Masternodes ensure these transactions. Due to this fact, it is one of the fastest cryptocurrencies there is.

Governance

Dash governance system introduced us to Decentralized Autonomous Organizations also known as DAOs. Masternodes perform all the governance-related actions within the DAO.  Each master node holds the same voting power and operates like a shareholder in a company. Regular DASH miners have no right to vote or participate in governance. 

Real life implementation

Dash has received a lot of media attention through its lifespan starting from negative darknet accusations to positive news regarding charity events. It all has resulted in widespread recognition of the coin. There have been rumors of food chain giant KFC accepting it as a payment method in Venezuela due to their economic problems and fiat currency instability.

DASH quantified

Currently, there are a total of 5046 known masternodes. The leader is The United States of America hosting a total of 1288 masternodes which equals to 26% of total network weight. The cryptocurrency currently trades in more than 200 exchanges. Top 10 largest dash wallets hold 5.7% of the total amount of the coins. (See picture below)

Dash holders by percentage. Source: chainz.cryptoid.info

Source:

https://en.wikipedia.org/wiki/Dash_(cryptocurrency)#cite_note-Prusty-10,
https://www.dash.org/
https://docs.dash.org/en/stable/introduction/information.html
https://chainz.cryptoid.info/dash/#!rich

Litecoin to sponsor a highly anticipated UFC fight

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In an official announcement, The Litecoin Foundation reports that they are about to sponsor a UFC (Ultimate Fighting Championship) rematch fight UFC 232: Jones vs. Gustaffson. This is a highly anticipated main event title match, and it will take place on December 29 at the Forum in Inglewood, California. According to a tweet by Charlie Lee, the creator of Litecoin, the company will have their logo “on the canvas as the Official Cryptocurrency Partner of UFC,” says Charlie Lee. 

Four reasons why UFC

In the official announcement, the Litecoin Foundation stated four arguments why they think this “makes sense” for Litecoin to sponsor such an event.

As the first reason, they juxtapose their communities saying that both, UFC and Litecoin’s success is mostly driven by their communities enthusiasm. “We see many parallels to Litecoin in this way as our amazing community has been instrumental in our growth and providing unwavering passion and enthusiasm that continues to propel us forward,” says in their announcement.

The second reason is that no other cryptocurrency related company has ever sponsored a UFC event. They believe this is a “Milestone for Crypto”.

The third argument is global awareness. Litecoin Foundation confounds that an event of such scale, can spark interest and drive engagement in millions of viewers, who will see the Litecoin logo on the canvas of the octagon.

And the last, fourth argument is the possibilities this brings to Litecoin in the future. The company shares upcoming plans on a “long and fruitful relationship” with UFC. “We look forward to the possibility of doing some amazing things with this incredible organization,” says at the end of the announcement.

The first match

As mentioned above, this is a highly anticipated event, because the first match, citing the official Youtube channel of UFC, is “considered to be one of the greatest fight the division has ever seen.” Jon Jones and Alexander Gustaffson fought all five rounds till the last buzzer. Breathless and looking completely exhausted, they still managed to walk around the octagon like nothing. Jon Jones won that match by a unanimous decision and won the belt. Now it is time for Alexander Gustaffson to fight for his title. You can see the first match here.

Why not?

Litecoin appearing on UFC fights is something like Dragonchain putting their logo on a Nascar. However, earlier this year, Dash also was one of the main sponsors in a similar event. Dash was the main sponsor for Rory MacDonald. He then became the welterweight champion in Bellator championship. Bellator is similar to UFC only not that popular. Dash then gave Rory $250,000 worth of Dash which was more than Reebooks‘ total payout of $165,000 for all the fighters. The company’s head of network operations explains: “There’s actually a monthly proposal cycle, we call it our ‘treasury system,’ and so every month our treasury budget opens and closes, and there’s an amount of Dash that we can use as sort of a positive feedback loop.”

We can only imagine what Litecoin is paying UFC for this.

Not sure about the resemblance of the communities, but they could be right. Lots of young men like to watch UFC events and sports in general. And that mainly is the cryptocurrency audience. Is that something that is desperately needed? Not for me to judge, but this definitely could be the right time. Because crypto is in a total bear market, and so is the stock market. The stock market is experiencing almost the same lows as the crypto-market. So this could be the right time to lure in investors, venture capitalists who like to watch UFC. 

Source:

https://litecoin-foundation.org/litecoin-ufc/
https://www.bloodyelbow.com/2018/3/12/17109028/ufc-bellator-mma-news-interview-cryptocurrency-dash-rory-macdonald-dash-bitcoin-reebok-fight

Photo by Wikimedia Commons

DASH now accepted for buying cars in New Hampshire car dealership.

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Recently a new car has been bought using only DASH cryptocurrency in a dealership called AutoFair in New Hampshire, New England. 

The implemented service to provide the cryptocurrency transaction was Anypay, which is one of the fastest growing digital payments platform, supporting multiple cryptocurrencies and is coming from New Hampshire.

The transaction was done through iPad with the use of the AnyPay app, and it happened instantaneously. Here is a video on how the purchase was done:

Doug Weisberg, AutoFair’s expert in crypto, who also made sale commented: “What we did was demonstrate how easy and good using crypto is. It is no longer strange. Now it is: ‘Yeah, we can do that!”

And in fact, it’s true! Now more and more companies are coming out, saying that they are accepting cryptocurrencies for their products. There has previously been news about a U.S. Car dealership called Post Oak Motor Cars, which accepts Bitcoin for the purchase of luxury cars like Bentley, Rolls-Royce, and Bugatti. Which makes it clear – you can no longer use your BTC only for coffee and small item purchases, but now you have the chance to buy cars! 
But let’s all remember the stunning events of 2010 when Lazlo Hanyecz bought two pizzas for 10k BTC. Now everyone remembers it and takes it as a lesson on not to spend your Bitcoin. Now when bitcoin is sitting at around $6,600 some people might be regretting buying such valuable merchandise. The CEO of AnyPay also refers to this 10k BTC payment for pizza saying: “Buying a vehicle with Dash signifies the next phase of digital currency adoption as we transition to a world where permanent, durable, expensive capital goods can be purchased with private digital cash. Contrast that with the bitcoin pizza of infamy or restaurants, theater tickets — ephemeral, low-priced goods. The next phase is access to financing with cryptocurrency. Financing homes, apartment buildings, cars, and other capital equipment.”

One thing is for sure – cryptocurrencies are being used more widely by every day, and we suggest not to stay aside and get involved with this movement!
Would you buy a car for 40 DASH?

Source:

https://goo.gl/TMHQui
https://goo.gl/G8pD2Z
https://goo.gl/quWX4N
https://goo.gl/eLUcnF
https://goo.gl/TA6J4Y

Photo by Canva.com

DASH partners with Kripto Mobile Corporation

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Dash, one of the leading cryptocurrencies, has partnered with KRIP to provide Latin Americans a new, affordable way of acquiring and using cryptocurrencies. They have made a phone which is pre-loaded with DASH ecosystem including a Dash wallet, ability to purchase Dash, spend it, send it and basically everything related with operating the cryptocurrency. Spending Dash will be possible with a 3rd party app called Bitrefill, which is the largest cryptocurrency prepaid phone company in the world. 

“We all know that fiat payments take too long and cost too much, and that cryptocurrencies have the potential to affect real change, especially for people experiencing hyperinflation where cryptocurrency is less volatile,” said Dash Core Group Head of Global Business Development Bradley Zastrow. “This first starts with the Dash community, particularly here in Caracas, who have worked tirelessly to grow the Dash ecosystem to over 800 merchants accepting Dash including locally-run locations from mainstream brands like Calvin Klein and Subway. Now with our partnership with KRIP, we will assist in accelerating this growth by giving everyone all the elements to acquire, store and spend their Dash right out of the box, including the ability to access the internet, a critical first step before any cryptocurrency adoption.

These KRIP phones will include a paper wallet which will come with Dash already preloaded for users to scan and upload into their new Dash wallets. With the help of this, users wont have to expose themselves to the impacts of hyperinflation, the need to physically visit bank branches, the security risks of carrying large amount of cash or the fees associated with fiat payments. The KRIP phone will have an implemented Carcas based Dash Help Me customer support service, which is created by Dash community organization and it will provide access to a dedicated customer support line. Another great feature this phone provides is a Dash Instant Send technology with which the user will have the ability to purchase digital goods such as phone refills, bill payments, gift cards for travel, online games and e-commerce.

“We are seeing an incredible transition period in Latin America with those who are unbanked, underbanked, or simply do not want to use the traditional banking system. Combining our accessible, affordable phones with Dash’s InstandSend transaction capabilities and low fees will provide a myriad of benefits to these communities. And with the addition of Bitrefill and other Dash apps, such as the Dash wallet, to our phones right out of the box, there’s simply no easier way to start using cryptocurrencies like Dash in everyday life,” commented the co-founder of KRIP.

KRIP phones are available across Latin America witht the price under $100.

Would you want a phone like this? What kind of cryptocurrency phone would you like in your country/region?

Source:

https://goo.gl/L6SnbD
https://goo.gl/7eddMM

CoinFlip partners with Dash

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A cryptocurrency ATM provider CoinFlip has partnered with Dash, and CoinFlip will add Dash to their accepted cryptocurrency list. CoinFlip already works with Bitcoin, Litecoin, Ethereum, Tron and OmiseGo. Both companies haven’t yet specified the approximate date when users will be able to use Dash within their platform. 

“The integration of Dash in CoinFlip’s terminals will help make the coin accessible in more than 175 ATMs in the US and just over 418 dispensers globally.”

CoinFlip’s network currently spans over more than 70 locations in the US, most of which offer buy-only cryptocurrency services, with a few allowing customers to sell coins as well.

Source:

https://goo.gl/nqbhEv