Proposal “CORETEAMTAXES0818“ (Active)Back

Title:Core Team Taxes (Part 1 of 2: August)
Owner:glennaustin
One-time payment: 785 DASH (203629 USD)
Completed payments: no payments occurred yet (1 month remaining)
Payment start/end: 2018-07-18 / 2018-08-17 (added on 2018-07-11)
Final voting deadline: in 12 days
Votes: 448 Yes / 49 No / 11 Abstain
Will be funded: No. This proposal needs additional 52 Yes votes to become funded.
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many d44e10f7aeb016d04ff630dbe20e9dcf28edcecffbb012bb59b8b0343890f7d1 funding yes

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Proposal description

This proposal is cross-posted from https://www.dash.org/forum/threads/core-team-taxes-part-1-of-2-august.39422/

Background
Dash Core Group, Inc. is a U.S. company incorporated in Delaware and headquartered in Arizona. As such, it needs to pay federal as well as state taxes. Over the long term the Dash Core Group tax rate should approach low levels relative to our funding (tax liability will be in the low single digits as a percentage of revenue). 

Over the past few months Dash Core Group pursued a strategy of hedging our exposure to cryptocurrency and managing our tax liability by: 1) spending more Dash than we brought in by conscientiously avoiding funding from the Dash network unless absolutely necessary and 2) liquidating Dash for fiat to ensure sufficient balances for future obligations. We now have significant fiat buffers in the Business Development, Marketing, and Research budget lines, so that we can operate over the next 3 months without having to go back to the Dash network for funding. A side benefit of building this fiat buffer is that we avoided hundreds of thousands of dollars in taxable income. 

What does this proposal fund?
During the fiscal year ending June 2018, we had income (Dash distributed to us from the superblock) and we incurred expenses (compensation, invoices, etc.). At the end of June 30, 2018 our balance sheet, at cost, was approximately $1.2 million. Our preliminary tax liability is estimated to be approximately $410,000 for fiscal year 2018 and approximately $110,000 for July through September 2018.  The total amount of ~$520,000 is due on September 15th, 2018. We have decided that in order to minimize the disruption to the budget, we will split the tax related proposals unequally between the August 2nd and September 2nd budget.  Specifically we are requesting $170,250 in the August 2nd budget cycle and $349,750 in the September 2nd budget cycle.

Taxes are not a discretionary expense. If funding is not approved, Dash Core Group will need to divert funding from another account to meet our tax liability.

Many in the community have asked why Dash Core Group is structured as a corporation versus a foundation or non-profit. When we initially evaluated what corporate structure Dash Core Group should be organized around, a non-profit seemed to make the most sense. However, in exchange for being tax exempt, those types of organizations have a lot of operational limitations. Our legal team advised us of 2 significant Dash-specific obstacles to this type of structure: 1) the source of all donations or contributions to the foundation would have to be disclosed (we would need to identify masternode owners) and 2) we couldn't pay developers to exclusively work only on the Dash network (we would be prohibited from promoting one specific solution). Both of those factors were show-stoppers and we decided to structure Dash as a corporation.

Although Dash Core Group is structured as a corporation, it is not expected to generate much taxable income (i.e., we only draw funding from the network required to fund liabilities and expenses). In the fiscal year ending June 30th, 2018, we had revenues of $7.5mm and our tax liability represents only 5.5% of revenues.  Over the long term the Dash Core Group tax rate should approach even lower levels relative to our funding (tax liability will be in the low single digits as a percentage of revenue). This stems from the fact that all Dash in our accounts will eventually be an expense when those funds are spent on specific initiatives. However, in the short-term there is a necessity to hold a certain amount of Dash permanently in each account since we need a buffer to account for expense timing and currency fluctuation risk, as well as hold funds meant to pay future liabilities. It is this buffer that will drive our tax liability going forward.

If you have any questions, please direct them to @glennaustin in the Dash Forum post to ensure we are notified of your request.

Requested funding is as follows for the August 2nd budget cycle:
· 780.00 Dash for tax expenses ($170,250 @ $218.269 per Dash)
· 5.00 Dash proposal reimbursement
Total: 785.00 Dash

Note: Should any funding remain, we will apply it toward future tax expenses.

Show full description ...

Discussion: Should we fund this proposal?

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0 points,7 hours ago
YES....although I would have expected this was part of prior budgets (tax factored in to proposals).
Reply
3 points,1 day ago
It is beyond unprofessional to file for tax payments as a separate project. This should be included in ANY funded project. What would you do if this failed? Are you holding master nodes hostage?

I am happy with the technical direction of Dash, but I will be voting against Core proposals in protest with all of my 12 nodes for now for the following reasons:

1. Censorship of the main subreddit. Yes this matters to crypto anarchists - surprise!
2. Overspending in the midst of a downturn.
3. Confusing and seemingly unlimited number of large core proposals eating all our funding.
4. The Core team is taking on too many tasks and thus becoming too centralized. They should focus on development and maybe business outreach and not too much on PR, conferences, legal stuff and having big offices. Let other teams do other things. The Electrum client could also be maintained by a separate team.
Reply
1 point,12 hours ago
good statement - I agree
anyways I will not vote against this just due to the possible consequences
Reply
2 points,5 days ago
We seem to be lacking a very simplistic explanation of this which is that DCG had a 1.2 million dollar fiat + dash buffer which results in taxes owed. If DCG could of temporarily returned all dash to the treasury before the end of June the taxes would be reduced on the non fiat portion. From my understanding if in 2019 Dash had the same buffer there would be no taxes owed. Please correct me if i'm wrong and please elaborate on the future strategy as well. Also, what i'm curious about is did core declare the dash value at the time it was received or the value on june 30th? This is the unintended consequence of core having a buffer so everyone who complained about core not requesting more needs to understand that every action has a consequence. If anything we need a dash-core-buffer company outside the USA in a favorable state as the volatility can really cause problems here paying for taxes on crypto before they are sold.
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0 points,23 hours ago
- Combined, the fiat and Dash (valued in dollars) buffer at the end of June 30, 2018 was ~$1.2mm.
- If we have the same buffer (in the same accounts) on June 30th, 2019 then no taxes would be owed.
- As far as future strategy: it would be prudent to have a larger buffer for certain accounts in the future. For example, core team salaries will hopefully be at 2-3 months compensation expense (which is standard across industries).
- We declared the Dash value at the time it was received (at cost) rather than the market value on June 30th.
Reply
1 point,5 days ago
For the record, I have no issues with how DCG's legal structure, tax strategy, nor the amounts it is requesting.

I am aware of the pre-proposal warning threads posted on the forums to caution aother proposal owners. I also greatly appreciate the efforts to get these proposals up earlier in the cycle. I'm also aware this one simply could not have been done sooner.

But I do hope we're less behind the curve on this and we can get ahead of it soon, resulting in day-one proposal submissions. It may be quite complicated to run accounting on the typical calendar and the dash budget calendar, but I have full confidence we can get there.
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2 points,5 days ago
Just a thought re the need to have this proposal pass in order to make tax payments "on time". As long as tax returns are filed on time, late payments aren't penalized nearly as heavily as one might think. I'm guessing this is setup as a c-corp, a formation that I'm not an expert in, but I would run this by your CPA and see what they say. I highly doubt that avoiding those penalties is worth missing out on funding for the projects that won't be able to be funded as a result.
Reply
3 points,6 days ago
@babygiraffe @glennaustin What would happen if this does not get funded? Because I am debating voting against this in favour of some of the Venezuela proposals and the Dash Embassy D A CH.
Reply
3 points,6 days ago
Maybe Fernando caould hand over some of his 1200 DASH he got on marketing. He was going to use it for google and facebook, since they have banned these ads they could tap into those unused funds.

I don't know about the other MNOS but we can't afford to lose the DASH HELP Venezuela support centre. However if all core proposals go through there are no funds left.

Why wasn't notice given of this last minute proposal? Why did core wait for other proposals to be posted before posting this proposal and wiping out their 5 DASH funds?
Reply
3 points,6 days ago
Glenn provided advance notice for the last two months that this budget item was coming in his monthly post on core tram budget expectations, and we posted this the day after we determined a preliminary tax estimate. We simply could not have posted this any sooner with details on the amount owed.

In terms of diverting funds from other budgets, that is not a precedent we would be comfortable setting. In order to spend funds on purposes other than the intended allocation would require MN approval. It may be well-intentioned, but that is a slippery slope to walk down. Concerning marketing specifically, we redid the plans when bans went into effect and managed to run campaigns in three countries with excellent results (which Fernando will share on the next quarterly call). Between the dash price declines and the expenditures for the campaigns, though, the marketing budget is not as significant as you might imagine.

If a lot of MNOs are expressing a desire to do something outside the norm to help make room, I could pull myself, Glenn, and Fernando into a room to come up with a specific plan to address. Perhaps a decision proposal to allocate a portion of the core team marketing budget to other passing proposals that are marketing related (above the 10% but don’t fit within the month) or a decision proposal to reallocate funds from another core team budget.
Reply
2 points,6 days ago
@Fernando I would like to suggest a practical marketing solution that is so closely integrated to providing a service it is not even seen as advertising or marketing. Maybe you could consider using some of your 1200 DASH marketing funds to fund it since the DASH core are using up the entire budget this month. It would be money better spent than any PPC ads campaign you could run. Here is the idea:

I spoke with Alejandro at DASH help Venezluela and he suggested putting a DASH HELP widget for DASH HELP on every page of dash.org website to assist anyone that is visiting the site. I have been thinking about this further and realise we could also put this widget on any DASH related website. This would form an excellent conversion strategy while providing answers to tech questions. No other crypto is offering such a service and this service is positioned in a location where people are already interested and arrived at the site, so we know they are intereseted in DAH. DASH HELP could convert these speculative visits to real users by answering their questions.

This is a creative marketing strategy that would add tremendous value in a practical way. This is the type of marketing I develop myself. I would like to take credit for this idea but in fact it was AlejandroE that suggested this. Something to consider.
Reply
1 point,5 days ago
As Ryan has said above, spending funds for a completely different use (taxes) doesn't feel right without a process/decision proposal around it, but I believe that using them for other marketing activities is completely ok. In fact, I'm working on an update on that topic that is long overdue because I know you'll agree that spending our limited funds on any ads right now would not make sense.

As for that specific idea, I'm not sure yet, but happy to explore that or other collaborations paths with Alejandro that include a revenue stream for Dash Help. A call center that is already trained and works well is a great asset. We could also work with Eugenia around conferences. Some of us on the team have already participated in some of them in the past, and we've also done joint conferences with other Dash partners, so I see no problem there either.

In any case, what I don't agree with is with the narrative that Core is kicking any specific proposal out. Any proposal left out is so by all the other proposals that passed in that period. Multi-month ones are not more sacred than new ones.
Reply
2 points,5 days ago
**Sorry I was using the laptop from Lorenzo and I did not notice that I was typing from his account (LorenzoReyC)** Sincerely: AlejandroE
----------------------------------------------------------------------------
Hello Fernando, hope you are doing very well!

I think this idea would add a lot of value to the network, having a livechat for help in dash.org or either a link for our website, or either a banner showing the numbers of each country where we provide the service (Venezuela, Mexico, Colombia, Argentina, Spain and next: Brazil & US) would create a big positive impact for Dash.

We have the office, we have the right people, we have the knowledge and we have proved that our feedback has been valuable to our users and also for the Core developers of the wallets (we have found bugs, typos, improved features, etc).

Let's talk about this, it can be something big for Dash. I PMed Tungfa at Discord but Idk if I should email him, or either talk this with you.

Looking forward to your response! Thanks a lot.

Best,
Alejandro
Reply
0 points,5 days ago
I think this a great idea, and would serve nicely with the upcoming website redesign that is ostensibly currently underway according to the Bi-Weekly report.
Reply
1 point,6 days ago
I did not hear about this and the Venezuela team leads also did not know about this. Perhaps Glen could consider posting such a notice in an existing proposal in a prominent position above the fold of the page. So that others proposal owners can clearly see your intentions in the location that is current.

Something like this at the top of each of your proposals:

e.g. Core Proposal 1 of 3 for this month's funding: CORE Salaries: DASH 2453 (posted)
Core Proposal 2 of 3 for this month's funding: CORE Premises: DASH: 123 (posted)
Core Proposal 3 of 3 for this month funding: CORE TAX: DASH: 785: Will be posting in a few days time.

Anyone intending to post a proposal will first check any existing core proposals submitted in the current cycle and then see the above intentions clearly stated. If this had been done then all the proposals posted would have saved their 5 DASH because they know they don't have much chance of getting funding if Core is posting a proposal for funds.

The problem is that you held out for posting the third proposal and the other proposal owners did not know you intended to do that because the communication was not clearly presented in the position that people are looking.
Reply
1 point,6 days ago
We have until September 15th to make the payment, and as stated this is for part of the cost. We plan to submit the larger portion next month. We did that because some large multimonth proposals end this month, so next month may be less congested.

If this proposal were not approved, we would roll the entire expense into the September 2nd budget cycle. Glenn has backed into the amount for each cycle in an attempt to spread the payment in the least impactful way across the two periods, so it would force even more difficult prioritization next month (unless the price were to rise significantly) if this were not funded.
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0 points,6 days ago
Next month there should be more space in the treasury if the price stops dropping further at least.
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1 point,6 days ago
I'm confused by this proposal. Isn't everyone individually in core responsible for paying their own tax bill? Why are we paying the tax for core?
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1 point,6 days ago
Yes, individuals employed or contracted to work for DCG have to pay taxes as individuals as well. These tax obligations are for the company. As money is received from the network it is registered as income and as money is spent (including money spent on salaries) it is registered as expense. Therefore, any change in balances is considered taxable profits. Therefore we pay income tax on the growth of our balance sheet (which can be positive or negative within a given tax year). The first year of operations is likely to be the highest tax rate since the entire accumulated balance is taxable income.
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0 points,6 days ago
These comments were mine. I logged into a family member account to check on a MN software update last night and was still logged into the account this morning. I’ve requested Rango update the attribution which he’ll do in a couple of hours. Apologies for any confusion.
Reply
1 point,6 days ago
For all of dashed's bloviation and fear mongering s/he is still hanging on to that masternode. If s/he believed a fraction of their own bs would they sell it off?
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0 points,6 days ago
Is it just me or is anyone else wondering why Dash Core Group is not setup as a non profit corporation. They get paid to cover the expenses of services preformed for the network. What profits do they have to be taxed on? Even when they have money left over it is eventually spent on the network not kept as a profit. Am I missing something???
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0 points,5 days ago
The hoops necessary to jump through and disclosures required make such a solution somewhat untenable IMO. (Source: much experience in American taxation.)
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0 points,5 days ago
If I had my way I would abolish the income tax and replace it with a 7% federal sales tax.
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0 points,5 days ago
From the proposal above: "Many in the community have asked why Dash Core Group is structured as a corporation versus a foundation or non-profit. When we initially evaluated what corporate structure Dash Core Group should be organized around, a non-profit seemed to make the most sense. However, in exchange for being tax exempt, those types of organizations have a lot of operational limitations. Our legal team advised us of 2 significant Dash-specific obstacles to this type of structure: 1) the source of all donations or contributions to the foundation would have to be disclosed (we would need to identify masternode owners) and 2) we couldn't pay developers to exclusively work only on the Dash network (we would be prohibited from promoting one specific solution). Both of those factors were show-stoppers and we decided to structure Dash as a corporation."
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0 points,5 days ago
Thank you for the explanation voting yes.
Reply
0 points,5 days ago
This should go on a faq somewhere and marketed to show professionalism. Good question and good answer.
Reply
0 points,6 days ago
Question: Why was this proposal dropped in well *after* your other core proposals? You do realise the damage you have caused to the small community projects that used up their 5 DASH to put forward their proposals because they thought they had a chance of the remaining money.. Of course you would know that. So then the question is why didn't you post in your other core proposals you intended to post this proposal? I can only come to the conclusion this was done deliberately. Either that or core management is insensitive or just simply incompetent.
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1 point,6 days ago
We have included this proposal in our published budget planning post for the last couple of months, with the intent of giving warning to proposal owners... in particular the July and August cycles. We posted the proposal as soon as we determined an initial tax estimate. There were several tax questions related to the formation of DCG that even tax experts disagreed upon and of course estimates required closing the books on the June quarter, which takes about a week. There were several issues that affected the tax obligation significantly and required hours-long discussions with tax attorneys. In short, we provided as much warning as possible and posted the proposal as soon as we were able to determine a preliminary estimate.
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-1 point,6 days ago
There was no notice given in the 2 other core proposals that the TAX proposal was going to be posted which could have easily been done. I don't know what you are referring to when you say advanced notice was given? I did not know about this myself. I have also spoke with the Venezuela team lead for DASH help just now and he also told me their teams did not know about this either. Therefore the communication method used by core is not effective. It needs to be posted in multiple places and especially in any existing Core proposals so that everyone can clearly see your intentions.
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2 points,5 days ago
Core inc have communicated extensively about their tax planning initiatives since Glenn came on board. It has been known for a while now that Dash Core inc would have a material tax liability this year and that Glenn and Ryan were working hard to reduce this as much as they can with effective planning. They’ve now completed that process and a number for the tax liability is now known. This tax will need paying and it goes without saying that the treasury will have to pay out on this, unless you think the fairies are going to sprinkle some magic fairy dust and make it all disappear?

I don’t understand your beef with Core, the information is there for anyone who reads Core communucations over the last few months, and I don’t see any inappropriate behaviour from Core on this.

Proposal submitters request funding at their own risk, if they haven’t taken heed of the advice by Core Inc that the first couple of months after their year end (June) would be heavy on the proposals then that’s on them I’m afraid.

Walter
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-3 points,6 days ago
Let's wait for Dash to drop 87% from ATH to start worrying about buffers and taxes. Genius. At least we are doing it now at $200 and not at $50.
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5 points,6 days ago
If we would have drawn the tax payments in our fiscal year 2018, we would have paid taxes on the tax proposal income as well. That would obviously be wasteful. Also, because we realized any loses caused by the price decreases before our fiscal year ended, the lower the price became the lower our tax bill became, so price movements were made essentially irrelevant to the the Dash-denominated amount that would be required to fund the tax obligations. Thus waiting until after the quarter ended was not a timing concern as a share of the budget. On the whole, we achieved a highly efficient tax strategy.

What you seem to propose - funding the taxes within the tax period - would have increased our tax obligations by about 30% both in fiat and Dash amounts.
Reply
0 points,6 days ago
Do you know what it looks like when Dash is at $220 with a budget of $1,352,021.73 and DCG has a $445,000 monthly commitment? Imagine the price drops to $50, putting the budget at $307,000. Now imagine it stays there for more 12 months because if you can't release a proper roadmap in 2 years why would anyone believe that you'll release Evolution by the end of 2018?

Then you'll be missing $150,000 every month, even if you request 100% of the budget. Are your employees safe and secure with this situation? Do you think current Dash investors that have a minimum understanding of balance sheets are happy? Do you think any new investor is going to consider buying into the project?

You don't want to pay 30% tax but what you're putting Dash through is just not worth the risk. Masternodes have spent so much money on stupid fucking shit that brings no returns and no value, and you don't get involved. Realize that the only source of income for your company is the Dash budget, and that you need to put your talent, experience, responsibility into it as well, otherwise we will spend that shit on anything we please.

Going back to the buffer, you are jeopardizing the whole project by not taking the god damn money from the budget for the important stuff. All it takes is for Dash for fall a bit more and stay there for a few months and you're out of business.

So far you've had a smooth ride as CEO because masternodes don't care that you don't deliver. You don't need to show results as long as they get their done of bullshit every quarter. If they did, and you're forced to deliver on you promises "or else", I bet you could get pretty creative. Maybe you could have requested $500k extra and distributed as bonuses to your employees for successful and on time deliveries. Or paid the useless business development department of your company a few hundred thousands to motivate them to deliver anything.

Or maybe hired a true marketing manager and not a well intentioned lawyer to at least do a bit of marketing on the shit you're doing. I bet you've spent a whole lot of time, money and energy on the New Zealand trust and 0.002% of the market knows about it. Hell even I don't know exactly how this works and I have masternodes. It bothers me that you're trying to be politically correct when shit is about to hit the fan. Request more money, give fucking bonuses to your employees, give money to your business development, hire proper marketing, don't let us do whatever we want with the budget and give your opinion on proposals. And for fucks sake deliver an Evolution roadmap!
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4 points,6 days ago
We got to where we are on a much lower budget than that. This is a skewed perspective. Obviously Core would need to downscale, some think that needs to happen anyway. As long as Core delivers a quality product in the reasonable assessment made by the actual team working on it, it doesn't make much of a difference to me.

Complaining now about what you believe ought to have been done then--and where you with this sage advice then?--isn't really helpful.

The DAO will be around and continue to be around even if Core fails spectacularly. It will just have to reconfigure and reinvent itself. Obviously no one wants that outcome, but these sorts of fears are unwarranted. Perspectives were skewed by the run-up of last year. We're still well on track, the only difference is Core's expansion, but it was arguably necessary for the scope of the product they're going to deliver.

Your assertions that BizDev is useless are simply false, to the degree that it seems like you don't pay attention to any of the news and base your assessment of Core's activities on relative CMC ranking. We've had announcements of integrations and accomplishments almost every week since the beginning of the year. DFN is constantly pumping articles about them out. Where have you been hiding?

Nothing is going to hit the fan, we're doing just fine on our year-on-year projections. The end of last year was a fluke.

Look, if you don't feel like you have what it takes to do this job, then when the DIPs come out, give your votes to someone who can hold themselves together, or hell, even to someone who will make the most ruthless, cold, calculating business decisions without emotion possible. If you think the sky is falling when we're still worth more than we were this time last year, I don't know what to tell ya...
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0 points,6 days ago
Before we had $50k/m in expenses, now we are at $445,000. Yeah the DAO will "be around" forever but DCG employees need money to pay their bills. If the price drops to $50, and I see no reason for it not to, and stays there for 12 months the project is gone. But at least we had a 2 month buffer, Ben Swann and a fighter jet.

No, we are not on track. We are in July and Dash Core can't deliver a fucking roadmap after 2 years, do you want to make a bet with me for 100 Dash on Augur that Evolution does not come out in 2018?
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2 points,6 days ago
My explicit assertion was that Core would have to downscale if the treasury dropped that low.

The presence or absence of a roadmap is not the same thing as the presence or absence of progress on development. I can understand the frustration of the absence of a roadmap, but based on the descriptions of development completion by DCG members current and former which have been made in public spaces, it's not worrisome.

Even Ryan's recent interview confirmed that we should have that information around the Q2 review. You need to keep up to date if you're going to prognosticate, even hypothetically.
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-1 point,6 days ago
I wish there was an edit option, I took it a bit too far in some paragraphs. I'm very upset and should have calmed down before writing.
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0 points,5 days ago
I agree with this part of your assessment.

Walter
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2 points,6 days ago
Don't worry about it. you're just passionate about the subject. The fact is you realised it and made up for it. Maybe next time compose your message and leave PC and wait for 30 minutes before posting so you have time to cool down. It will be forgotten in no time.
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2 points,6 days ago
Sounds like my personal situation! :p
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1 point,6 days ago
ditto
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-6 points,6 days ago
Expect next month to be much worse. And the month after. And the month after. It's not going to stop dropping until Evolution is released, which will be 2 years from now, and then it's going to drop even more once everyone realizes nobody gives a shit about usernames and passwords. By that time maybe you'll all realize that 200 new starving Venezuelan retail businesses is not exactly "global mass adoption".

Suggestion to reverse that? Stop trying to please masternodes, they are a bunch of cheerleaders who will clap and cheer no matter how bad things are going. Please the market instead. Make everyone accountable for broken promises and when you do promise something, fucking deliver. Alt36, Acrobatics planes, MMA fighters, Music festivals, Ben Swanns, it didn't make any difference did it? Now use the god damn budget to create an 18 month buffer, pay large bonuses for your employees, pay bonuses for new business developments integrations - Bradley's department - (who hasn't done anything in 7 months, how much longer are we waiting?) and use marketing funds to change Dash's image in the crypto space, where it has a really bad reputation. And it doesn't get better when you let people fuck up the reddit community by letting anyone moderate.

Finally, stop being naive. Do you know what fucking "mass adoption" looks like? 30,000 new online merchants per month, not 200 retail venezuelan businesses. Wake the fuck up!
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0 points,4 days ago
Hello, now we have over 400 Venezuelan merchants accepting Dash, including REMAX (real states), Susy Cookies (franchise with 32 stores), TuGruero (known National wide), La Cotuferia (franchise too), ShipNet. So, I don't know where the "starving Venezuelan retail businesses" are.

I understand you are upset, but we are business people just working to provide real solutions to the network, we are the same people of Dash Help (the first support center of a crypto in the world), and we are developing Dash Text (the first SMS wallets exclusively for Dash).

These are not small things man, we need that the whole fu%$# world knows about what we are developing here. These are real news that will create REAL interest from investors.

Looking forward to your response.

Best,
Alejandro
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7 points,6 days ago
"Stop trying to please masternodes, they are a bunch of cheerleaders who will clap and cheer no matter how bad things are going." -- a MNO.

Really, though, why would anyone take seriously the "contributions" of a perpetually toxic person who is consistently rude and dismissive to literally everyone?

You haven't been keeping up to date with information. Ryan's recent interview gave a very good forecast for a timely completion of Evolution as well as the finalization of Dash Ventures. All indications were that there was no reason to believe that either would fall beyond the pre-indicated timeframe.

The disparities in funding are primarily a function of price--which is a feature more of the irrational market more than anything else, our price relative to BTC hasn't fallen that much--and the multiple "camps" within the DAO who have different concepts of what Dash is, what Dash ought to be, and how Dash ought to accomplish its goals.

Bradley's been working on all sorts of things. I can think of at least a half dozen major integrations off the top of my head in which he was instrumental. You're either just ignorant or impatient waiting for those integrations to translate to movement on the blockchain. Your sense of the business cycle has been warped by the crypto speculation cycle.

The problem with Dash is not that it has a *bad* reputation, but that it doesn't really have much of any reputation. Sure, there are the Monero-fueled FUDers who to this day propagate all manner of refuted falsities, but by and large the perception of Dash is not intrinsically negative. It could definitely stand to be improved, but that doesn't fall solely on Core. Instead of showing up once a month to take a dump on DashCentral, you could maybe get involved in the community and help us flesh out alternative projects and ideas for making a positive contribution to Dash marketing.

How did I know you were a Redditor? Figures. Pretty sure not much has changed about the moderating habits of Reddit, even if a few more names have been added to the roster and constraints on behavior attached. That too was approved by vote, btw.

Yes, I'm pretty sure everyone has an awareness of what Mass Adoption looks like. That's the goal. Venezuelan retail is one small part of a larger push in Venezuela, and these efforts are distinct from large scale integrations. Don't get your wires crossed.
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-6 points,6 days ago
I don't give a fuck about your opinion about me or if you take me seriously or not.
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4 points,6 days ago
So...you don't care if anyone takes you seriously or not, but you desperately want everyone to conform to your will.

Pick one.
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-4 points,6 days ago
Mind-reading illusion and false dichotomy. You're one of the clap and cheer masternodes I was talking about, trying to sound smart by saying stupid shit like "The disparities in funding are primarily a function of price" or "large the perception of Dash is not intrinsically negative".
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4 points,6 days ago
Not at all. I don't need to read your mind or commit an attribution error to observe that you've been writing impassioned diatribes about how you believe Dash ought to be, how various members ought to behave and what they ought to do. Clearly you want things to be other than they are, and for that to transpire, others have to listen to you and agree with you. At the same time, you express contempt for everyone and claim not to care how you are perceived. These two pursuits are obviously at odds, so it's not a false dichotomy. Also, at several points you've gone to further lengths to demonstrate that you do care about how you're perceived and how your message ought to be received. It's all very convoluted. Point being, if you want to get your way, you're only impeding your own progress.

I don't think cheerleading has anything to do with verbosity. At any rate, I've offered several criticisms that I believe to be reasonable on a number of occasions, I'm just not as reactionary as a lot of the more investment-driven community members seem to be. The market will probably need to retest its launching point after correcting for last year's absurdities, and sometimes that entails going even below the "bottom" temporarily. There are so many things on the horizon for Dash specifically and cryptocurrency generally, I just don't see any reason to be as concerned and emotional many others, even though Dash factors heavily in to my livelihood, though the latter is motivation to do what I can to ensure the best possible outcomes.
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-4 points,6 days ago
Are you trying to hit a word count target or sound smart? Sorry I don't have the patience to read your replies
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4 points,6 days ago
Tell you what; I'll pursue brevity if you stop being needlessly abrasive and irrational.
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1 point,6 days ago
Deal
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1 point,6 days ago
I agree with some of your comments on the waste of funds on some really dumb projects. But I DO NOT agree with your point on Venezuela. To be accurate it's actually 400 retail merchants in Venezuela in just the first 2 months and that rate is increasing as time goes on. You simply cannot go immediately to 30,000 merchants per month that is unrealistic. What is realistic is building up month on month slowly accelerating the pace. That is how it works. More merchants are getting signed up in Venezuela at an ever increasing rate. Eventually it will lead to a tipping point.

The Venezuela projects are working and the rate of uptake is increasing monthly. I don't understand core's marketing strategies wasting time and money in developed countries there are too many barriers to entry. Venezuela is the perfect place to establish DASH first. If we can't do it there then you may as well forget it anywhere else. The law is pro crypto with the government issued a decree for the people to use crypto legally, no other country has done that to that level. The people need and want it. We just have to work it and stop wasting funds on stupid projects like MMA fighters which I thought was one of the dumbest projects along with sponsoring characters like Charlie Shrem without doing due diligence. All that wasted money. We need to focus our efforts on the location where we are most likely to get success and that location is Venezuela. If you think otherwise then you should consider taking your own advice on your last sentence above.
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1 point,6 days ago
It *is* realistic to get 30,000 merchants in a month with the right high-level business integrations. Chances are we already accomplished something approaching that with some of the crypto-payments integrations we've already secured. Several of us were discussing a way to list and categorize every merchant to which these large scale integrations afforded us access earlier today on Discord, and at least with one of them, the partner has agreed to offer a list. Some are still looking in to whether or not that information can be pulled from an API. Suffice it to say, it's well within the realm of possibility.

That being said, it is also the case that grassroots efforts can be important to gaining traction and can serve as a stepping stone to mass adoption in other contexts. Working in the struggling or developing World vs. the technocratic developed World are two very different pursuits, both have merit and potentially rewarding outcomes. It's not either/or.
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-3 points,6 days ago
I agree with everything you said. I am not saying we should continue Venezuela, quite the contrary, I hope we do because it's good for us and they need it. My point was that the whole Venezuela thing is very very very far from remotely looking like mass adoption.
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2 points,6 days ago
I totally agree it is very far from mass adoption in Venezuela however the fundamentals that the teams have been working are are now in place. They are still refining that formula and making it more efficient however it is working better than any merchant signup anywhere in the world. They are doing this on a measly budget. If we want them to scale up. We have to scale up with our funds. Since the merchant sign up formula is proven to work on small scale we just need to scale that up. Imagine what DASH merchants could achieve if they had 27,000 DASH instead of their measly 77 DASH per month? That is equivalent to an entire month's worth of rewards from all the DASH MNOs. Would you be willing to put your rewards on the line like I would to make this happen? Are we just all mouth and no words or are you actually willing to put your butt on the line and make things happen. I am but so far I've not seen any other MNOs willing to give up their precious token to MAKE IT WORK. That's right we need to stop waiting for core Marketing to get their act in gear and MNOS need to get together to fund these Venezuela projects and make it happen on scale. We aren't going to get the money from DASH treasury. What is the point of holding on to token rewards each month hoping they are going to passively increase in price on their own. Why don't we plough all our MNO rewards into Venezuela and MAKE IT HAPPEN. Words are easy to say. It is actions that count. Are you prepared to give up your monthly rewards to make it happen? I am. I want to DO something instead of say something. So the question is. What are you prepared to do? If we are going to pull DASH back to the top of the charts we need to take massive action. That means putting our money where our mouth is.

If you want to contribute, to the development of the idea of MNOS funding subDAOs in Venezuela then MNOs could you contribute your thoughts at least to this forum thread: https://www.dash.org/forum/threads/creating-a-venezuela-dao-to-create-the-first-dash-nation.39188/
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0 points,5 days ago
Masternodes need to be very careful about Venezuela. Throwing a massive chunk of our funding at Venezuela is a very risky strategy. We’re a long way from mass adoption anywhere because the product/solution isn’t there yet. I’m also highly sceptical of Dash’s use as a transactional currency in a hyperinflating economy where scarecety has value. I fully expect that Dash will be hoarded in the most part and will only be spent as a last resort.

Walter
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-1 point,6 days ago
*discontinue
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-1 point,6 days ago
I really wish we had Dash Nation rules on here then this could be deleted for spreading false information.
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0 points,1 day ago
Screw you and your censorship bullshit. This is the kind of thing that killed Bitcoin Core.

Yes I want people to be able to lie and shit on Dash because at least then I am sure I am not being tricked. I am sure I hear all voices - even the ones I disagree with.

Cryptocurrency is supposed to be about freedom and that includes freedom of speech.
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4 points,6 days ago
Various options are being discussed for Nexus, but personally, I'm for letting everything stay for the sake of posterity, and so we have an opportunity to slug it out. DN rules are fine for community spaces, but I think the decisions being made here are too important to be beleaguered by propriety and decorum. If we truly care about this network and it's fate, we should be willing to fight for it and put in the time.
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-1 point,6 days ago
"False information". Anything can be deleted under that rule, because what is false or not is subjective. Is 400 venezuelan businesses mass adoption? Was dash initial mining fair? Is Bradley delivering results? It's a license to delete anything the masternodes don't like and boy they do abuse this power
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2 points,6 days ago
More automated solutions or crowdsourced moderation like downvotes are some of the options being discussed for Nexus to reduce moderator bias, which I find preferable if we're going to have any kind of moderation. At any rate, no one can block you from voting through the protocol, so you'll always at least have that.
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-3 points,6 days ago
Dash Nexus is not a community, it's a tool for 5000 people make decisions. It's the small guys on reddit, twitter, and discord that you need to worry about. Dash has a horrible but well deserved reputation because it has assholes in charge of the community, and people like thesingleton who likes to delete "false information". Go on the Slack / Discord / Subreddit of other cryptos, they're way friendlier, tolerable and way more active than Dash's.
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2 points,6 days ago
I've encountered nothing but surprise at how low-key, friendly, and welcoming Dash community spaces tend to be. There are trolls that complain about Reddit moderation, but I basically don't care about them. Very few have had legitimate complaints, and for the most part, DN rules are effective for community spaces.

I'm on several other Discords and Subreddits...I haven't found that to be the case in any of those instances aside from the subscribers we lost on the Dash subreddit when we changed names/branding. We must visit very different Discord channels and Subreddits.
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-2 points,6 days ago
I'M NOT! **
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-3 points,6 days ago
I agree in part with what you say. Although the adoption in Venezuela is really important for the millions of dollars that could directly enter Dash at some point in history ...

We are developing a feelance platform for Dash. And the massive adoption took place without anyone giving us anything in return.
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