2018 hasn’t been kind to cryptocurrencies, with every major asset except for BNB recording a loss for the year to date. Dash has been particularly hard hit, slipping from 7th to 14th by market cap, and down 92% from its all-time high. A growing schism, culminating in a motion to replace Dash CEO Ryan Taylor, has thrown another spanner in the works.
Also read: A Look at Two More Bitcoin Cash Token Projects in the Works
Dash Is on the Decline
Something’s up with Dash. The veteran cryptocurrency, an altcoin staple from back in the day, waning. On most metrics; price (BTC); transaction volume; BTC normalized price; market cap; Dash isn’t looking good. Behind the scenes, meanwhile, a war of wills has caused acrimony in the camp, sparked by concerns over CEO Ryan Taylor’s performance.
Dash is prized for its governance system, whose model has been adapted by many subsequent cryptocurrencies. Usually the sort of proposals tabled at Dashcentral.org are for ways to spend the communal budget, often via initiatives to promote Dash adoption and increase awareness. The proposal titled Demote Ryan Taylor to an Advisory Role isn’t like the others. Posted by user “Saving Private Dash”, it reads: “Ryan destroyed the market’s confidence in Dash by repeatedly breaking promises and missing deadlines. Dash was once valued at 0.09BTC and it is now 0.02, in spite of millions of dollars available to him…None of the 2016 promises were kept.”
“Ryan has grown his company irresponsibly,” continues the proposal calling for his removal. “There are 6,176 DASH available in the budget and DCG [Dash Core Group] has about $500,000 in monthly expenses. Dash is now below $200, and $500,000 / 6176 = $80.95. That means if the DASH price goes below $80…there won’t
