Dash recently sponsored and presented at Libertopia, where Dash advocates and developers got a chance to speak and answer questions.
One interaction stood out in particular with another event speaker and long-time liberty advocate, Jeffery Tucker. Mr. Tucker got an answer to one of his questions in particular that motivated him to write an article. The question was “What is it like for a company, in the course of four months, to go from a market capitalization of $4.2 billion up to $12 billion and back down to $4.4 billion?” To which, Chuck Williams and the Dash panel answered uniquely.
“stay calm, manage your risks, and recognize that uncertainty is a universal condition of life.”
Tucker highlighted how the panelists went on to discuss how “government control of money comes with the loss of control over many aspects of our life and, along with that, the illusory promise of security”. We then begin to believe that “[t]here are no serious risks that we need to focus on as a matter of life management”. The panel continued by discussing that “every real entrepreneur, operating in the real world, knows there are good days and bad days” and that they “use the good days to prepare for the bad days” and “use the bad days to get creative, debug the system, find new marketing paths, and prepare the ground for future successes.”
Entrepreneurs find a way
Tucker went on to discuss the fear that accompanies many aspects of life and that it is scary, but it is also part of the journey and everyone has to deal with this fact; from “Microsoft and Apple” to “the lemonade stand managed by 10-year olds”. It is from the iteration of many ideas, many of which fail and only some succeed, that individuals make better lives for themselves and improve the lives of their fellow men and women.
Joel Valenzuela, who also attended Libertopia with Dash, is particularly familiar with this fact since he has endeavored with many entrepreneurial projects and most recently is experimenting with living entirely off Dash.
“Uncertainty is the natural order of the risk-driven world, and risk is essential to opportunity, especially in quickly developing fields such as cryptocurrency. Early adopters who take on, and effectively manage, the risk of trying to use this new kind of money will be able to benefit from its potential.”
Joel recognizes the trade-offs that must accompany the search for reward and described why cryptocurrencies are catching on at different rates in different countries.
“Dash taking off in challenged countries has demonstrated that people will be willing to take major risks for the chance at a better life, something they have otherwise been denied. Catching on in affluent countries at a slower rate shows that in some ways safety can be a weaker condition for innovation than uncertainty, as those who already don’t have much to lose have a much higher propensity for experimentation.”
As Tucker eluded to, by citing Mises’ Theory and History, the uncertainty and thus the volatility is a necessity since individuals cannot know the future and only know the past. So to improve upon the future and make it different from the past requires that risks be taken since individuals do not know for certain which actions will cause what events. Some individuals attempt to avoid risks while others embrace the uncertainty. Those risks are intimidating and bring volatility, but they exist in the search of improvement for individuals, such as bringing financial services to the unbanked and financially excluded.
Dash is iterating to provide solutions
Dash is leveraging its treasury system to fund numerous projects around the world to advance Dash, which include outreach to those that were previously unbanked and financial excluded. Other funded projects aim to improve the Dash network directly. Some funded projects will succeed in advancing Dash and others will fail, all while the Dash price fluctuates with other cryptocurrencies. In a way, Dash is a conglomerate of many independent and decentralized, funded and unfunded entrepreneurs with different risk propensities iterating through different actions and theories to find solutions to the monetary and financial problems facing individuals. This searching for and testing of solutions to problems that exists in the world is providing tangible value for consumers through services and risk mitigation of owning and using Dash.
This tangible value provides an anchor when the price of Dash gets volatile. The knowledge that Dash is helping individuals improve their lives from the old financial and monetary system makes Dash a project that has tangible goals on the horizon and has a roadmap to get to the finish line.