Dash CEO claims "Bitcoin (BTC) won't survive long-term"

21 Mar, 2019
by David Robb
Opinion
Dash CEO claims Bitcoin (BTC) won't survive long-term

Dash CEO Ryan Taylor recently gave an interview to online crypto magazine Breaker. He discussed the increasing importance of DASH to the Venezuelan economy, and also explained his "hypothesis", that "Bitcoin won't survive long-term".

Speaking about Venezuela, where Dash adoption has seen huge growth over the last year or so in the wake of the country's escalating hyperinflation, Taylor pointed out that most of the work is done through Dash Merchant Venezuela, who have been "out pounding pavement signing up merchants. Mostly mom and pop shops, but we’ve started to move into corporates now".

The CEO of Dash Core Group said that he didn't want to have "direct relationships with [merchants], because it doesn’t scale", but he claimed the work of Dash Merchant Venezuela was now opening the door for DCG to sign up companies and payment providers higher up the chain. He also spoke about a recent controversy involving a lack of transparency with Dash Merchant employee salaries: "they made a poor choice, which is that they lied about it. Part of their stated reason was they were concerned for their safety in Venezuela. It’s a violent country".

Read more: Church’s Chicken announces partnership with Dash, to accept crypto in Venezuela; Dash Core Group forced to lay off staff as the crypto winter takes its toll

Taylor believes that the Dash network is "more decentralized" than BTC, where "there are like six miners that control all decisions. In our system, there are checks and balances".

Explaining his beliefs about the future of the leading crypto, he claimed that "Lightning Network isn’t a solution. There isn’t an easy solution. Because they lack governance, they have an inability to change and adapt to the marketplace". He compared Bitcoin to Betamax, suggesting that an altcoin may be the VHS that eventually kills it off: "People always overvalue network effects...The superior product always wins".

Read more: Starbucks and Bitcoin: what are the facts?

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