Dash is quickly seeing a massive price movement over the course of even just November alone. From November 1st to the time of writing, Dash has seen a 274% climb from $260 to $630. There are many factors that are contributing to explosion in price. Dash has been given the title of “Digital Cash for the Internet”. Dash aims to be the leading form of online cash. Although Bitcoin has the name that is the most recognized by the average Joe, Bitcoin is very hard to be used as an everyday means of currency. To transact in Bitcoin currently, it costs around 75$ per $1,000 worth of Bitcoin to send to someone. In other words, to send $1000 worth of Bitcoin, $75 would be lost in transaction fees. Dash aims to solve this problem. If you wanted to send $1000 worth of Dash to someone right now, it would cost under 50 cents! This is pennies compared to the current fees associated with sending Bitcoin.
One reason Dash has seen such tremendous growth is the usage of masternodes to run its network. These masternodes are run on the network by users that have 1000 Dash tokens and staking them on the network to help the network run more efficiently. By the user staking their own tokens, they are rewarded with 7 Dash tokens per month. I’ll let you do the math there on the early adopters’ rewards every month. People have even been combining their Dash together online to purchase a masternode and then sharing the profits it reaps by the percentage of Dash contributed by each member. Through this masternode model, it has helped secure the network as well as rewarding those who helping to improve it by the staking of their coins.
Dash also acts as an anonymous coin. Think of it again as a digital cash. If you were to find someone who wanted to purchase your bike and they paid you cash for it, who would know about this transaction? Would it show up on your credit card or bank statement? Would you report the income for tax purposes? Of course not. This is what Dash is trying to accomplish in a digital way, and it is truly a powerful weapon. One thing is for sure, the government is going to have a very hard time tracking all of the future transactions that take place amongst cryptocurrencies like Dash and Monero. This feature in itself gives Dash a truly “priceless” value in terms of what it is capable of. Think of the future of car buying, house buying, etc. What if you could just purchase anything with a digital form of cash? Come to think of it, aren’t we all already doing this with our visa and mastercards? This could just be another way to spend money. Except this time there is no middleman to take 2-5% from the poor merchant who is just trying to sell their goods and services for a profit. This helps merchants tremendously as it reduces their transaction fees from 2% to 0%, as this is the same thing as a cash transaction. Dash is about to change the world of payments, get as much as you can and HODL.