Author: Eric Sammons

Evaluating How Much a Dash Budget Proposal is Worth

Another Dash Budget Proposal Cycle is coming to an end shortly, which means Masternode owners are scrambling to evaluate proposals and cast their votes before the deadline passes. With the total monthly amount available now exceeding $4 million, the stakes have become considerably more significant than when the Budget System began. Although there is no way to know, I would guess that the vast majority of Masternode owners have never had to manage a $4+ million/month budget. How to decide which proposals are worthy of a “Yes” vote? How to determine which proposals are worth what they are asking?...

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Introducing Your Family and Friends to Cryptocurrency

When I first got involved in cryptocurrencies over four years ago, no one I knew in “real life” cared what Bitcoin was. And I didn’t bring it up in regular conversation, because I knew doing so would just lead to bemused looks or perhaps even some derogatory comments involving tulip bulbs and beanie babies. After a year or so, I introduced the topic to a few people I thought might be interested—mostly those who either had a tech background or an interest in investments. After my book on Bitcoin was released in 2015, a few family members and friends...

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Decentralization and Centralization: Can They Get Along?

What’s one word you can throw around that’s sure to give you some cryptocurrency cred? Decentralization. In fact, the highest praise you can give a cryptocurrency project is that it’s “decentralized,” and the worst insult is that it’s “centralized.” The word decentralized conjures up images of a hoard of volunteers working hard, resolving their disputes amicably, and coming together for the common good. Centralized, on the other hand, invokes images of evil elites keeping people under their thumb and ruling the world as they see fit. The Efficiency of Centralization Of course, reality is a bit less cartoonish. Depending...

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Passing the “Facebook Test”

A few months ago a friend told me he was interested in cryptocurrencies. Scott is in his 50’s, intelligent, and successful in business. He is by no means a tech expert, but he uses his smartphone extensively, he’s active on social media sites, and he’s comfortable shopping online. He had done some research on cryptocurrencies and wanted to invest in a few, mainly Dash, Bitcoin, and Ethereum. Getting Started Recently I asked Scott if he’d bought any cryptocurrencies; he had not. I could tell he was hesitant because he didn’t know where to start. Although he understood the basics...

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A Beginner’s Guide to Cryptocurrency Terms: What They Really Mean

If you’re involved with any subculture for any length of time, you quickly begin to notice that it has its own vocabulary. Whether it’s a religious, political, or local community group, longtime members tend to use certain unfamiliar terms or use familiar terms in an unfamiliar way. The reason for this is mostly convenience; it’s a shorthand way of referring to concepts and ideas well-known to the group. But it can be disconcerting to new members nonetheless. The cryptocurrency community is no different. Those just beginning to look into Bitcoin and other cryptocurrencies are met with an onslaught of acronyms,...

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