Dash's Killer App: A Focused Commitment To Simplicity
I think Dash has a fairly good chance to go mainstream in the future because of this one reason and no, it has nothing to do with a celebrity endorsement or some killer new technological breakthrough.
There’s lots of chatter in digital currency communities about a future killer app that catapults Bitcoin into the mainstream. All the focus is usually on new apps, complex technology or highly unrealistic scenarios.
It’s way simpler than that but I don’t see any other digital currency totally committed to it right now (except Steemit). I don’t even see Bitcoin doing it. And Bitcoin has been around for more than 8 years.
So, what is it?
It’s so obvious, I’m actually surprised we are even discussing it in 2017.
The killer feature that just about everyone has overlooked is:
SIMPLICITY.
Yes.
That’s it.
Simplifying every aspect of digital currency so that regular people encounter zero friction when first using it is the killer feature that I think Dash is going to pull off. I’m basing my opinion on many things including how the Dash team cooperates and unifies people in their clear mission. I’m also basing it on the development of a new tool called Evolution which is being created specifically for regular people who have never even used Bitcoin before. Evolution is slated to be released around the end of 2017.
Evolution is going to be a great tool, but it’s not the tool that I’m most excited about. I’m most excited about the intent behind building that particular tool.
Let’s face it, many people are used to iPhones, iPads and Facebook. They don’t see the gobbly gook code that runs their tablets, phones and computers. They are pampered and accustomed to getting electronics in shades of silver, slate, pearl or indigo.
So when they see something like this:
They think to themselves,
WTF?
They want to bury their heads in the sand and immediately quit whatever program they are running.
They assume something is very wrong with their computer, and they also feel a wave of panic spread throughout their body. Fear is a great killer of curiosity. Bitcoin addresses invoke massive fear in most people. Bitcoin addresses are made for computers, not humans.
Getting people to fall in love with digital currency in the same way Steve Jobs did with the iPhone and Elon Musk did with the electric vehicle is the key to creating the “killer app” for digital currency.
The killer app of digital currency may not be an app at all. It may come in the form of a highly dedicated group of people who care enough about the average person to create a tool to help them navigate the bold new world of digital currency. And the one who will lead this new kind of human-centric approach is a very intelligent, thoughtful and charismatic teacher named Amanda B. Johnson. If you watch this video all the way through, you’ll soon understand why I think that Dash could go mainstream:
Steemit already has replaced long alphanumeric addresses with usernames, just like Dash is intending to do. So, the wallet technology in Steem is already simplified in the way that Dash is headed. Also, Steemit is also heading towards the idea of simplicity. I see Steemit currently as full of complexities that will take a while to simplify. I also believe that Steemit could learn a lot about governance, community building and organization, as the system in Dash is much more advanced. It functions like a well-oiled machine that is worthy of emulation. If Steemit is committed to improving, it needs to look at the way that Dash operates. It's impressive.
My Dash proposal passed. I just launched a Medium publication called Dash For Newbies. This article was written for that and it appears here originally: https://medium.com/dash-for-newbies/dashs-killer-app-and-why-i-think-it-could-go-mainstream-2dd05fb06edb#.7bn04l6tp
Here's the publication: https://medium.com/dash-for-newbies
Some of you hardcore Steemit fanatics might ask why I would launch a Medium publication for Dash. Well, in my most transparent answer that reveals a little of my frustration with the way that Steemit Inc. operates, I offered to create a Medium publication for Steemit some time ago. There was no response, zero understanding from the Steemit Inc. devs, and basically people at the top just ignored me or didn't quite grasp what I had envisioned. Lack of communication.......
I'm finding that deep synergy within the Dash ecosystem and I need to go where I am most needed and understood. I am not revealing this experience to create any bad blood. I'm being transparent because there's a lesson here. A lesson about respect and listening. But I also understand that Steemit is young and needs time to grow. I'm optimistic that if a shift occurs at the top with respect to listening to others and taking good advice from well respected members, then I think success will come here.
In many ways STEEM is a couple of years ahead of Dash (I think @good-karma's post does a great job in explaining STEEM's technical advantages).
Where Dash excels is in marketing and in securing some monster backers that have pumped the price. STEEM can learn a lot from Dash in this regard.
Dash is still a long way away from gaining a real world use case. Like with most crypto people buy it in the hope that someone will pay more for it in the future. I still think STEEM's model of allowing users to earn freshly minted coins through 'social engagement' using a easy to use web-based front end, has proven the most successful way of on-boarding regular people into crypto.
You have a good point here, at least Steem has a service allowing some more people to be introduced to the crypto world. But Steemit is be far from simple, and even the foundations of Steemit/Steem are still under heavy debate, and for good reasons (I will not elaborate on the 'good reasons', that is another topic). The foundations need to be done right, before even Steem can grow. After getting the basics right, Steemit need to create a future, more than what Steemit is now, it needs to get into something that is not only blogging by individuals, but businesses needs to start making use of Steemit, big time. Connecting consumers and producers will create value in the coin. When not getting businesses onto Steemit, Steemit will stay a nice community blogging service, with low value to the underlying currency Steem, and therefore will never be big.
Businesses and advertisers tend to go where potential customers are. If STEEM can on-board a critical mass of users, business will want to work out how to get a presence of Steemit (or any other social app serviced by STEEM). Just like they have presences on Facebook, Twitter, Instagram etc, if it meets their demographic. The beauty of STEEM/ Steemit is users have purchasing power right there on the platform, this will be very attractive to businesses.
I agree that improving the foundations and aiding the connection between consumers and producers will help, but far more important is marketing.
The key messages about STEEM/ Steemit are simple and need to be front and centre... 'Get involved and have fun in this social network and earn rewards... The more of a stake you have, the more you influence have over how rewards are allocated.' Etc..
The mechanics about how STEEM's foundations can be improved need to be more 'back office'. It's like advertising the inner workings of a combustion engine, when most people are just interested in driving the car.
Hopefully communities will help new joiners enjoy the platform by steering them to areas of interest, whilst allowing those inclined to peak 'under-the-hood' of STEEM to do so. However those looking at the engine of 'STEEM train' and thinking 'it could be better' should not lose sight of the fact that most over cryptos are riding around on horseback!
Steemit: Attractive Service to introduce Newbies into Cryptoworld
I certainly agree with you Steemit is an interesting service for newbies to the crypto world to enjoy the crypto world without needing to know a lot of cryptoland. Steemit requires a couple of changes to make the usr experience better, but agree, the basics is there and Steem is one of the few (maybe the only?) crypto currency that actually has a service that is quite easy to use by non-crypto people.
Marketing
I also agree that Marketing is a need! And fortunately Steemit is getting this higher on the list. When executing Marketing and further simplification of the user experience of Steemit in parallel, we may indeed be able to get to a (moderate) growth of Steemit in number of active users and number of posts/comments and hopefully in interactions; Interactions will create the value of Steemit, otherwise it'll almost like a library or Wikipedia, and information source rather than a learning source. The later, the learning part, maybe the USP for Steemit.
Businesses
I think some relatively near future, Steemit needs to start attracting businesses. You are right in saying that business wil come to a community by itself, when the community is interesting enough for them. But, what to think of onboarding businesses, and let them do (part of) the marketing by showing the non-crypto business world what can be achieved by entering the crypto world? I can think of at least 2 or 3 Dutch digital newspapers that could be very interested to be part of Steemit, but they don't know Steemit (can be solved by Marketing, but I beleive in 1-on-1 sales more at this stage than marketing to businesses), Steemit is not providing the right tools to them and us (the users) to actually get them onboard and have a good user experience for us users, and get some fiat money from them to kick-start a monetisation model for Steemit.
Way Forward
I see a couple of things to be done in parallel (maybe slightly shifted in time); in summary.
https://steemit.com/dashistrash/@lasseehlers/dash-is-trash-open-invitation-to-amanda-b-johnson
Ok, the point I am trying to put forward, is not really easy or popular in the community, I am planning a few more videos on the topic, where I will try to go in details with my arguments.
Let me cover it a little here in text:
DASH has transaction fees, where as Steem has no transaction fees.
DASH has instant transactions for an extra FEE, whereas Steem has 3 seconds transactions (which is almost instant and just as good for people to use)
DASH is only money, where as STEEM is money, social media and more. (even hard to compare)
DASH uses a lot of electricity to run their network (similar to Bitcoin), whereas Steem is ran on VERY VERY little electricity.
DASH promise to make usernames and savings account with dividend, whereas Steem already had those features in mart 2016.
More will follow.
Lasse
And one more thing: Steem has a stable currency, Steem dollars.
Currency is worthless if no unity exists.
If it's so worthless, please transfer me your Steem dollars.
Dash community is united behind their mission.
Stella I agree that the winning crypto currency needs somekind of mainstream appeal. I guess Steems hardforks could give Steem that, with features like:
Private messaging, confidential transactions and things like that.
You have to do what you have to do in life.
Especially with out-of-control compulsions - if you know what I mean :)
I never denied that I'm totally nuts and full of compulsions.
@stellabelle I read your post before I went to sleep, and upvoted it because I thought this was your best post ever for many reason. I was too tired to leave a comment, but wanted you to know that now that I am awake and having my coffee.
Thanks for your comment. That meant a lot to me. I want to get back to writing what I honestly feel, even though it might be somewhat hurtful to some people in high places.
Did the same thing only saved the tab for a few days and here we are :)
Dash and Steem have made for different purpose, in my opinion. Dash aims for adaptation of easy-to-use cash-like currency to Cryptocurrency users. I'm not sure about Steem yet. I'm relatively new here but this is a place where any people can talk and enjoy spending time. I see many intellectual conversation being pumped here. I'm sure there are things that each currency can learn from each other. That's why two brains are better than one. The different approaches from each crytocurreny will stimulate each other and advance crytocurrencies to next level each year. And someday, more people would like to join using them.
Dash is Paypal. Steemit is Facebook.
That's good comparison lol.
Woohoooo!!!! YAYYYY!!!! -puts on party hat and throws confetti- :D
Steem's loss is Dash's gain. Someone should have hired you to write about Steemit for noobs but they dropped the ball.
Thanks for your honest article!
Yes we need a person like Amanda B. Nice ! :)
Remember, stellabelle is now bought and paid for by DASH - same as Amanda. By upvoting her here, you are paying her again and to push DASH.
2 points:
Absolutely agree!
History showed this already with eg VCR vs Betamax. CD vs DAT. Chrome vs Firefox. PC/Windows vs Apple.
You guys have a point, I have been leaning towards that Graphine/Steem is better technology and therefore will win in the long run (unless something every better comes along). On the other side I have been thinking about the VCR & Betamax storyand thought could DASH be the winner? The reality is that no one have the answer to what will happen in the future.
Steem is already a better currency then Dash, plus Steem is a kind of social media.
I think that changes are that DASH will be hyped and maybe even win over Bitcoin and then people will realize that Steem is better and go there. Its kind of like this: First people come to Bitcoin, then Dash then Steem... or they come to Steem first and then discovers cryptocurrency after that.
Assume Steem will stay Social Network for a considerable time, then Steem will probably the way in into Crypto. For coins to become big, it needs to be a payment coin, or at least as main focus. Payment coins require integration with all payment system,s or at least i those that create the economy for the coin, and it needs to focus (almost) 100% on making user experience as a payment coin super simpel. Steem is not doing this at this point in time. Former ShadowCoin, and now Particl is working on this more than Steem is, they want to bring a MarketPlace with their own Coin, but allow all other coins to be used as well whilst all the exchanging of coins will be done under the hood. How it'll work in practise, is the question, but when they can get it right, their coin is more geared to a payment coin than Steem is. Regarding Dash, no idea what they can come up with to make Dash a payment coin, if they can think of something, they may make it, if if not, other will and they will become the dominate coins. There will be multiple coins in the world of payment in the future, but I do not believe there will be that many being dominant. With 400, 600, 800 or whatever amount of coins out their in the market, many of them will either die, or will play some niche role in something, could even be in the area of loyalty coins, or local community coins (like Bristol pounds, or Vegas Dollar).
Steem is simple to use.
Yes and No. The Service itself, kind of yes although it lakes help pages, knowledge pages, split of Steemit talk/discussion and other topics, notice board, discussion boards, and so on, complex parameters and to many (Steem Dollar, Steem, Steem Power, SP, VEST). But indeed, the core service is relatively simple, although the editor is to nerdy, can become way more simple. Transferring funds to Euro, super super not user friendly. It start already with the requirement to convert in Bitcoin, and only than it can go to Euro. But that last bit is quite complex.
@edje, girls like @heiditravels and @sweetsssj can use steemit, so can most people... I agree there is a learning curve.
About the translation into fiat, its the same with DASH!
I’m dumbstruck, not only by the message of the post but also by some of the comments here.
I cannot agree more with you and apparently also Dash! I’m very surprised the address complexity was not addressed right from the start with Bitcoin, or at least with some other coins that saw the light of day after the initial success of Bitcoin.
BUT, the address is just one of the things that needs simplification.
What about all this crypto language, blockchains, hashing, crypto?
The vocabulary used must become mainstream language, at the moment the language used is to technical.
What about the huge barrier to get fiat currencies converted into a virtual currency, and back?
After Bitcoin in the market for more than 8 years, and the first hype around Bitcoin 3 to 4 years ago, the issue of getting fiat money exchanged for a virtual currency is not solved. In whole of Amsterdam only 1 Bitcoin ATM is available, apparently. And then I was told getting money send or from the machine, cost around 10%. The general public deals with only a couple of big banks. How do you think when the see the enormous amount of exchanges offering fiat/crypto conversions, which to choose, which are or bad/good? Remember, Bitcoin and with that crypto has not that positive image with the general public.
What about the volatility of virtual currencies?
Don’t you think this needs to be solved for virtual currencies (and in particular the crypto currencies) to be used as a payment currency? When the volatility cannot be solved, than a circular economy is required and this economy is specific to each individual.
What about all those people who are not so comfortable with a computer or smartphone?
There is a huge generation difference, our grandparents and even our parents were not born with a computer or mobile phone in their hands. And even the young generation who do not know anything else than if phones where always immediately right in front of every new born, will seek simplicity. Their short attention span is so short that when things does not work instantly and in a super simple way, they run to the next service available. And there are so many same or similar services in the market to choose from, feeding their behaviour even more! Ever heard of the term stickiness? Well that is required!
I can list a couple more arguments where Simplicity is not achieved for virtual currencies to be able to become mainstream, or at least to take the first steps to become more generally adopted, but I leave that for a next comment or post.
good points! I agree with you. I think that a Steve Jobs type of person is necessary at this stage...
Or just a good communicator, The story to bring is pretty clear, at least to me :)
Well done @stellabelle. You've definitely got my attention when your talking about my two favorite cryptos and that last sentence is a philosophy that I live by. Thanks for sharing
you're welcome! Thanks for reading my thoughts.