Hello, I'm Amanda B. Johnson and you're
watching DASH: Detailed.
A number of weeks ago, for our "Ask ABJ" episode, a viewer sent
in a question to the effect of: If Dash
is so great, why is it only number seven
in market cap? At the time I provided an
answer that most directly addressed
Bitcoin's spot as the number-one
cryptocurrency. But as I thought about it
afterward, I realized that the viewer was
also, if not even more so. asking about
slots two through six. So in an effort to
more completely answer that question --
because I've given it a great deal of
thought myself -- I wanted to provide you
with some analysis today. So again, to
restate the question: If Dash is so great,
why is it only number seven in market
cap? Well, as we all know, and probably
most, even maximalists will even admit,
Bitcoin of course holds the number one
spot due almost entirely to a first-mover
advantage -- in that everyone knows and
readily admits that it doesn't offer any
features or any benefits not found in
any of its competitors. Rather it has
achieved the most network effect at the
time, due to a first-mover advantage. But
what about Ethereum, Ripple, Litecoin,
Monero, and Ethereum Classic in spots
two through six? Imagine with me if you
will for a moment that a very beautiful
and vain and prideful sort of woman were
to throw a ball -- a party -- and the only way
that other females could make it through
the door of this party is to assure her
that she is the best,
she is the highest, and they are of no
real threat to her, are not competing
with her in any way.
This may sound like a silly little story
and you may be wondering what it's doing
on DASH: Detailed, but I think it's a
fitting allegory for how the crypto
sphere has worked thus far.
See of course, the very beautiful and
popular and vain and prideful hostess is
Bitcoin. And arriving at
the doorstep in the number two spot is a
Ethereum. From the very beginning, many,
many Ethereum adherents have been
adamant about saying, we have no interest
in offering anything like a currency.
Ether is to be used only as gas to fuel
smart contracts so fear not Bitcoin, we
are not here
attempting to be a peer-to-peer
electronic cash. And so Ethereum was let
into the party. Then arrives Ripple at
the number three spot. And Ripple is very
clear about wanting to build a sort of
property transfer backend for banking
and financial institutions -- not at all
seeking it to offer an end-user product.
Ripple is let into the party. Then comes
Litecoin in the number four spot. And it
has actually been a tagline within the -- at
least a portion of the Litecoin
community for years -- that Bitcoin is the
gold, and they are the silver. Naturally
Litecoin is let into the party. Then
Monero arrives to the party in the
number five spot, making it clear that
they are targeting their product only to
users who want the highest of privacy
and who don't mind using things like
command-line interfaces because their
product is targeted to the tech savvy
and people who would never think of
using something like a transparent block-
chain -- like Bitcoin's. Monero is let into
the party. And then finally Ethereum
Classic in the number six spot -- has the
same pitch as Ethereum -- is let into the
party as well. And then Dash arrives. And
Dash makes the seeming faux pas of
telling the hostess,
hello you are wonderful and you are
beautiful but I do believe that I am
superior, that I have more to offer and
that I shall become more wonderful and
beautiful than you. And I would like to
consume your entire market cap and even
surpass it. And how do I see this playing
out? Again another corny allegory,
but the thing that happens
between Harry Potter and Voldemort in
the last book -- you know the prophecy that
says, neither can live while the other
survives. It's probably going to be
something like that honestly, because
Bitcoin and Dash are basically competing
for the exact same market, which is to be
a peer-to-peer electronic cash. Or rather,
Bitcoin used to be competing for that,
they seem to be mostly confused about
what they're going for now, which is why
Dash is looking like a better and better
bet every day. So I hope that analysis
provides some sort of insight for you,
were you looking for it, because it's a
very valid question in these turbulent
times of market caps. And as a final
announcement, just what does it mean that
so much wealth in the crypto sphere is
betting that certain digital currencies
will become widely used by the average
person -- one day in the future -- but most of
these digital currencies show no signs
of moving toward average person
usability. What does that mean
economically? I plan to address that very
topic in next week's show where you will
see the presentation I recently gave in
Albuquerque, New Mexico about bubbles
forming in the crypto sphere.
Alright see you then. Bye-bye. And just how
does Dash plan to offer peer-to-peer
electronic cash to the average person
like hey, your mother?
Check out this preview of Evolution. And
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