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1121  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 12, 2016, 05:10:44 AM
“ . . . the mining community’s reluctance to wield veto power . . . ‘

“Not being able to reach a consensus, and even worse, having every disagreement or discussion publicized worldwide . . .  ‘

Warning: this essay is shockingly simplistic:

those unfamiliar with practical and theoretical anarchist politics – which is pretty much what ‘open source’ is – are spooked by the messiness of its processes. They are used to social governance models in which the bickering is done quietly and out of sight. The point, though, is: does the squabbling produce results that justify the squabbling?

Nuh.

Why the squabbling? Because anarchism rejects all forms of ‘standing’ authority, which I consider a 'hyper-correction.'

And in ‘real world’ anarchist milieus, the squabbles often end up in the group splitting, and new groups forming as a consequence, and it's not seen so much as failure as process.

However, you can’t do that with crypto-currency development. The dissenting parties can’t hack the blockchain into lengths, and go their separate ways.

So crypto enthusiasts should look to governance models akin to the libertarian ‘night-watchmen state’ in which (carefully carefully monitored) ‘minor centralisations’ occur. These allow both for better decision-making and for that decision-making to be undertaken with a little decorum, which never hurt the marketing of a product.

Dnotes interests me precisely because its community/’management’ seems to be ably walking that fine line between (a) adhering to the anti-authoritarian ethos of the crypto movement, but (b) doing it without bouts of community chaos.


Very impressive post, Mark; exceedingly thoughtful.

"Why the squabbling? Because anarchism rejects all forms of ‘standing’ authority, which I consider a 'hyper-correction.'

And in ‘real world’ anarchist milieus, the squabbles often end up in the group splitting, and new groups forming as a consequence, and it's not seen so much as failure as process.”
 This could very well happen in the “Bitcoin world" in which case the likelihood of mass acceptance will be remote. Essentially, the squabbles will continue in an unproductive environment of “build and destroy” Not a very good business model in my mind. But that is the price of a purely decentralized model.

Yet Bitcoin must remain decentralized or it will be a poor choice over fiat or national currency.

We recognized the pitfalls and challenges before DNotes was launched on February 18, 2014. We decided that DNotes must follow the pure decentralized model. What we have been doing differently is to offer leadership, direction and guidance with a long term plan to own and commercial its ecosystem. This bridges the gap between the decentralized DNotes the digital currency and the centralized ecosystem. By walking this fine line we have the opportunity to help manage DNotes as a business as long as it is not controlled as a business.

So I agree with your conclusion that:
Dnotes interests me precisely because its community/’management’ seems to be ably walking that fine line between (a) adhering to the anti-authoritarian ethos of the crypto movement, but (b) doing it without bouts of community chaos.”
1122  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 11, 2016, 07:54:34 PM
Bitcoin Weekly Recap 3-11-2016

BitQuick Now Using BitGo Instant
BitAccess Announces Bitcoin Purchase Option across Canada
Coinbase Announces Debit Card Bitcoin Purchase Feature
BitPay Report Shows Rising Bitcoin Business to Business Payments
Consensus Escapes Satoshi Roundtable

http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

Excellent recap. "Consensus Escapes Satoshi Roundtable" is an important read you should not miss. This is a serious pitfall of Bitcoin that could lead to very costly consequences. It is very concerning. Any major setback will affect the entire industry.

Consensus Escapes Satoshi Roundtable
http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

More than seventy members of the Bitcoin community participated in the Satoshi Roundtable event in Florida last weekend, including miners, Bitcoin core developers, and representatives from Bitcoin firms. As might be expected, much of the conference focused on the issue of blockchain scaling. Anyone who showed up at the event expecting the participants to develop any sort of consensus, however, would have left sorely disappointed.

Two of the participants, Gavin Andresen and Brian Armstrong, walked away from the conference with markedly different perspectives. In separate blog postings this week, each man offered his own unique take on the conference, while also providing a glimpse into preferred paths forward.
Both men’s accounts of the proceedings seem to reflect a similar sense of frustration that there are still so many people resisting any serious effort at resolving the block size issue. Their blog accounts, however, do reveal that even they have some obvious differences when it comes to identifying why these divisions remain so hard to overcome.

Armstrong identified the Bitcoin core team’s inability to accept a good solution as a major roadblock to progress, noting that they are resisting a helpful solution now due to their concerns that unhelpful decisions might be made at some unknown point in the future. Not content to simply identify perceived problems, Armstrong also offered his own thoughts on a possible solution that includes an immediate block size increase to 2 MB, an increased effort to communicate the benefits to Chinese miners, and a commitment to building a new protocol team.

Andresen’s post expressed pessimism about the whole process, and focused on the mining community’s reluctance to wield veto power, confusion about the current process, and the apparent unwillingness of some in the development community to support any on-chain solution at this point. In the end, Andresen concluded that these are all signs that the Bitcoin network is in an extremely unhealthy state – and likely to remain so until wiser and cooler heads prevail.


Great Recap Ken!

Not being able to reach a consensus, and even worse, having every disagreement or discussion publicized worldwide, it very damaging for the industry. The people involved may be using public infighting to garner support for their side, but it isn't helping their cause.

Good news - all the new ways to make Bitcoin purchasing easier!



We are watching all these Bitcoin infighting very attentively, least we fall into the same trap when DNotes reach a certain scale. We must continue to keep things simple. When we are finally ready to upgrade the DNotes blockchain, we must be able to leap-from the industry and resolve all the known problems and limitations. We are committed to the long term and in no hurry to just do something. We may appear to be slow and quiet at times. Behind the scene, it quite a different story.
1123  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 11, 2016, 04:02:29 PM
Bitcoin Weekly Recap 3-11-2016

BitQuick Now Using BitGo Instant
BitAccess Announces Bitcoin Purchase Option across Canada
Coinbase Announces Debit Card Bitcoin Purchase Feature
BitPay Report Shows Rising Bitcoin Business to Business Payments
Consensus Escapes Satoshi Roundtable

http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

Excellent recap. "Consensus Escapes Satoshi Roundtable" is an important read you should not miss. This is a serious pitfall of Bitcoin that could lead to very costly consequences. It is very concerning. Any major setback will affect the entire industry.

Consensus Escapes Satoshi Roundtable
http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

More than seventy members of the Bitcoin community participated in the Satoshi Roundtable event in Florida last weekend, including miners, Bitcoin core developers, and representatives from Bitcoin firms. As might be expected, much of the conference focused on the issue of blockchain scaling. Anyone who showed up at the event expecting the participants to develop any sort of consensus, however, would have left sorely disappointed.

Two of the participants, Gavin Andresen and Brian Armstrong, walked away from the conference with markedly different perspectives. In separate blog postings this week, each man offered his own unique take on the conference, while also providing a glimpse into preferred paths forward.
Both men’s accounts of the proceedings seem to reflect a similar sense of frustration that there are still so many people resisting any serious effort at resolving the block size issue. Their blog accounts, however, do reveal that even they have some obvious differences when it comes to identifying why these divisions remain so hard to overcome.

Armstrong identified the Bitcoin core team’s inability to accept a good solution as a major roadblock to progress, noting that they are resisting a helpful solution now due to their concerns that unhelpful decisions might be made at some unknown point in the future. Not content to simply identify perceived problems, Armstrong also offered his own thoughts on a possible solution that includes an immediate block size increase to 2 MB, an increased effort to communicate the benefits to Chinese miners, and a commitment to building a new protocol team.

Andresen’s post expressed pessimism about the whole process, and focused on the mining community’s reluctance to wield veto power, confusion about the current process, and the apparent unwillingness of some in the development community to support any on-chain solution at this point. In the end, Andresen concluded that these are all signs that the Bitcoin network is in an extremely unhealthy state – and likely to remain so until wiser and cooler heads prevail.
1124  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 11, 2016, 02:33:22 PM
Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you, infovortice. I am well aware that blockchain and Azure are two industry buzz words at this time. There are significant advantages to team up with Microsoft at the appropriate time. In our case, it may not be until 2017. We have a very clear vision where DNotes needs to be three years from now.

We spent the first two years building a trusted brand with a solid infrastructure of our own ecosystem. We are now focusing on a revenue model to will help fund major development projects beyond what we have already been working on.

DNotes is a trailblazer with a very long term strategic plan. We are committed to be a technology leader with a trusted digital currency for everyone worldwide to participate. We are also committed to a strategic path that will give DNotes the best chances of meeting the full functions of money one day, with an ultimate goal to be far superior to money. Additionally, DNotes is positioned to supplement, though not replace fiat or national currencies globally. Thus, we see things very differently; with a very different timetable when compared to our industry peers.
 

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you infovortice! Azure is Microsoft's cloud platform. Microsoft is trying to promote usage of this platform by 'partnering' with service providers, in this case blockchain data providers. The advantages for a blockchain provider include providing services for one looking to utilize blockchain for data purposes, opening themselves up to potentially a new user base on a nice and easy platform. This isn't something that is on the top of our priority list, but on our radar for future utilization of blockchain services.

I can't explain the exact correlation to the price, other than potential higher utilization of that providers services, and excitement of a new technology venue.





OK i understand now, thanks. Sure price up is just speculation, or coders investing some money in something they want to work in. Nice to know is on DNotes path, Smiley

There seems to be an increasing interest in altcoins. It is beginning to remind me of 2014. DNotes is quite well positioned now and we are back to an uptrend. Slow and steady is what I would love to see. So far so good.
1125  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 11, 2016, 12:49:56 AM

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!


That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.


The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.



For convenience and wide availability it is very impressive. It may not be the most cost effective regular savings program. I am curious as to what is the final exchange rate of 1 BTC in UD $ they used for  the conversion.  


It would be pretty costly to continuously pay that kind of a fee if you became a regular purchaser of Bitcoin. This is a good stepping stone for the first few purchases, so people can see it really isn't that difficult to buy. Once they are confident, they will likely move on to buy where the fees are lower.

The price for one bitcoin was $565.85 Canadian and at today's exchange rate that is around $414.00 U.S.

Thanks, Chase. So the exchange fees is already reflected up-front. That is not to get people started.
1126  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 10, 2016, 11:14:48 PM

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!


That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.


The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.



For convenience and wide availability it is very impressive. It may not be the most cost effective regular savings program. I am curious as to what is the final exchange rate of 1 BTC in UD $ they used for  the conversion.  
1127  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 10, 2016, 05:24:31 PM
Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you, infovortice. I am well aware that blockchain and Azure are two industry buzz words at this time. There are significant advantages to team up with Microsoft at the appropriate time. In our case, it may not be until 2017. We have a very clear vision where DNotes needs to be three years from now.

We spent the first two years building a trusted brand with a solid infrastructure of our own ecosystem. We are now focusing on a revenue model to will help fund major development projects beyond what we have already been working on.

DNotes is a trailblazer with a very long term strategic plan. We are committed to be a technology leader with a trusted digital currency for everyone worldwide to participate. We are also committed to a strategic path that will give DNotes the best chances of meeting the full functions of money one day, with an ultimate goal to be far superior to money. Additionally, DNotes is positioned to supplement, though not replace fiat or national currencies globally. Thus, we see things very differently; with a very different timetable when compared to our industry peers.
 
1128  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 10, 2016, 02:57:33 PM
On the surface the claims in the following article sound impressive. Indeed, there will be great demand for high speed blockchain transactions with many good uses.

However, it is important to take notice this is about centralized private blockchain with “trusted” intermediaries; as opposed to trustless decentralized consensus network confirmed by proof-of-work without the need of any central authority.  

Juno provides a platform for private network applications and removes the need for proof-of-work and proof-of-stake functions typical in current blockchains.”

***************************
JPMorgan Introduces “Juno” Blockchain Prototype with Lower Latency, Higher Throughput
March 7, 2016

http://blockchain-finance.com/2016/03/07/jpmorgan-introduces-juno-blockchain-prototype-with-low-latencies-high-transaction-volume/

JPMorgan on Friday revealed its own blockchain technology prototype at the technical steering committee meeting of the open source Hyperledger Project, according to a CoinDesk scoop.
JPMorgan executive director David Voell introduced the “Juno Digital Cryptoledger” and one of the developers of the prototype, financial technology engineer Will Martino.

In his introduction, Voell placed emphasis on Juno’s lower latency and higher transaction throughput.
“It is very well suited for high volume use cases. A lot of the existing technology we’ve seen with blockchain is not so good at higher volume transactions. Some of the use cases we are looking at are in the area of 200, 300, 400, 500 transactions per second.”

Martino gave a presentation on Juno as an alternative to existing smart contract blockchain technologies like Ethereum, noting that project started in September 2015 after testing other blockchain technologies.

Juno provides a platform for private network applications and removes the need for proof-of-work and proof-of-stake functions typical in current blockchains. Juno accomplishes this by using a variant of the Raft consensus protocol with Byzantine Fault Tolerance (BFT), called Tangaroa, and a smart contracts language developed for it, called Hopper.

According to its Github page, Juno can achieve significantly lower latency than traditional Blockchain-based models.

“Running the demo locally, one can expect latencies of ~20ms and throughput in excess of 1000 transactions a second.”

In his presentation to Hyperledger, Martino indicated that an un-optimized version of Juno running four nodes on a MacBook Pro generated throughput of 500 transactions per second and a latency of ~2ms. The development team believes it can achieve 2-3 times performance with basic optimizations.

To put this performance in perspective, the Bitcoin network can handle 7 transactions per second, while Visa’s network handles an average of 2000 transactions per second. Even if it can handle just 500 transactions per second, Juno is much more suitable for most mainstream financial applications than the two most prominent blockchains, Bitcoin and Ethereum.

Juno however is not a finished product, as Voell noted in the introduction to Hyperledger:
“It is not finished yet. It is still a work in process. We have been having some very good results from our testing.”

JPMorgan is a member of R3’s consortium of 45 member banks, called the R3 Global Collaborative Lab, and recentlytook part in testing distributed ledger technologies developed by Chain, Eris Industries, Ethereum, IBM and Intel.
1129  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 10, 2016, 03:16:40 AM

I came across this article on public and private blockchains and found something within it that made me a bit nervous. Is it true that transactions within a private blockchain can be altered?? The "feature is not permitted in public blockchains" because of the security risk. Are we supposed to believe there is no security risk with organizations that are racing for the private blockchains?


Beyond Bitcoin: The blockchain revolution in financial services

PUBLIC VS. PRIVATE BLOCKCHAINS

To understand the difference between public and private blockchains, consider the difference between the Internet, which is public and available to everyone, and intranets, which are created by specific entities and only available to certain individuals with permission.

Public blockchains are decentralized and accessible to anyone, regardless of their affiliation. Transactions are publicly verified and remain in the public domain. To ensure the integrity of the system and to validate transactions, financial-incentive and consensus mechanisms are built into the system. Crowdsourcing is an advantage of public blockchains, which are outside the control of any private or governmental entity. Because a public blockchain is available to anyone, improvements are made by consensus of the participants. Open access encourages greater participation and makes it more likely for public blockchain networks to be employed in a wider variety of applications. Importantly, public blockchains offer the potential for reducing transaction fees. In the Bitcoin network, for example, the average processing fee for a Bitcoin transaction is .04 cents, compared to more than .35 cents for a typical credit card transaction.

Private blockchains are set up and maintained by a private entity. Security protocols control and limit access to authorized parties. Transactions are verified within the private blockchain and can potentially be altered within that private network, which enables operators to correct errors. This feature is not permitted in public blockchains, in part because it can create security risks. There are two types of private blockchains: consortiums, which include preselected participants from a variety of organizations; and fully private blockchains, which are limited to participants from one organization. Private blockchains can authenticate transactions more quickly— generally within seconds—because they operate on networks that are more centralized and are made of up fewer computers. In contrast, it can take as long as two hours to authenticate a Bitcoin transaction, which happens on a globally distributed, public blockchain involving thousands of unaffiliated computers.

http://www.whitecase.com/publications/insight/beyond-bitcoin-blockchain-revolution-financial-services

Chase, the article is factually correct. Private or permissioned blockchain is just a glorified version of database. It is controlled by a central authority or centralized, hence authorized parties can reverse the record and make changes.

As mentioned, “there are two types of private blockchains: consortiums, which include preselected participants from a variety of organizations; and fully private blockchains, which are limited to participants from one organization.”

A proof-of-work decentralized Bitcoin or DNotes blockchain record is not reversible and cannot be changed once confirmed by the 51% of the peer-to-peer decentralized consensus network.

What sold me about Bitcoin in the first place is Satoshi’s ingenious consensus technology to deliver immutable transaction time-stamped records verifiable by anyone anytime anywhere. Without this feature, there is not that much one should get excited about. The so called trusted intermediaries continue to rule.
1130  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 09, 2016, 04:46:21 PM

Actually, not so much the leaving of Hearn but the infighting and inability to come to a consensus since he stepped away. The industry is doing everything to prove him right while saying he was wrong. This needs to stop. We need a strong leader to step forward and put all this crap to bed before people get desensitized and move on to new things. You only have the public's attention for so long and it needs to be good attention in order to grow and thrive.


"The industry is doing everything to prove him (Hearn) right while saying he was wrong." That, unfortunately is a very good point. However, we can always be hopeful, but no one seem to have sufficient motivation to step in as a strong leader to clearly represent the industry than their own self interest.
1131  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 09, 2016, 02:16:48 PM

Great title on this article, but it came up short on the proof. It sounds like they are saying the reduced fees of using Bitcoin in cross border transfers will result in greater profits for banks. These outrageous fees are how the banks have remained profitable for so long, so I can't imagine they are in any hurry to get rid of them. In order to stay competitive, they would have to eventually pass any savings on to customers (or the consumer will turn to Bitcoin themselves).

It would have been interesting to have some sound arguments and / or better explanation of how banks could profit.


Cashing in on Bitcoin: How banks can turn a profit on the cryptocurrency

http://www.cbronline.com/news/verticals/finance/cashing-in-on-bitcoin-how-banks-can-turn-a-profit-on-the-cryptocurrency-4831672?

Yep, let's talk about it. I struggle with it because I can only assume what costs banks actually have and where their income comes from. I assume most people will want an entity like a bank, even if we are majorly on digital currency, for insurance and potentially ease of use among other services a bank provides. I mean, even here, how many people would run there own wallet over using coinbase? DNotesVault is another good example, I'm sure the majority prefer to store their coins at DNotesVault. Banking won't really go away.

I think we start by reducing cost as part of the profit model.
Banks have a cost to pay in order process transactions. There are servers, storage, databases, security, software, maintenance, compliance, & employees to keep it all running. Most of these functions are not necessary when transacting in digital currency because it is built in. On top of this, they can batch transaction to reduce blockchain fees.
Banks also have to cover things like fraud and security breaches, that they pay hefty premiums for in insurance. If done correctly, there could be much less fraud and security risks when using digital currency. Especially where each transaction doesn't require personal information.

So even if fees were lower for the consumer, I assume the banks will make more money than previously (on fees).

What banks won't be able to do with digital currency is lend out and only keep 20% in reserves, or whatever that ratio is, and then charge the consumer interest on borrowed money (rinse and repeat the same money). Seems to me this is where all the money is made and where the problem for banks comes into play. In order to survive they will have to become much much leaner.



There are plenty of opportunities for innovative banks to participate in digital currency but it will take years for them to be comfortable and regulatory requirements to be more accommodating.
1132  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 09, 2016, 02:02:49 PM
Post 567 here: http://cryptomoms.com/forum/index.php?topic=537.msg6375#msg6375

and I am gleefully puddling along, providing a little volume on Cryptopia.

Mark

Thank you for doing your best to support DNotes at Cryptopia. Hopefully, I will find a little time to check in one day.
1133  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 08, 2016, 01:19:52 PM
Will Bitcoin face extinction without core development competition? Personally, I do not think so. But it will not benefit from its full potential unless, at a minimum, it has managed rules for competition. Competing fairly is a good thing. Competing destructively is chaotic and will retard mass acceptance of Bitcoin.

Successful businesses compete for winning technology standards all the time.
In most of these battles, one standard eventually emerges victorious. The winning standard succeeds because it becomes best option after a hard-fought battle.
Having a backlog of transactions kills the ability for bitcoin to be useful as a transactional tool and forces additional costs on businesses.

Creating a task force
When it comes to the Internet, its technology is mature and thus debate is normal. Imagine if there were no task forces developing standards governing the internet.
We would be dealing with an internet that was not capable of scaling and rife with technical problems. Instead, proper bodies shape the internet. It has created one of the largest wealth generators of our time.”


Bitcoin Faces Extinction Without Core Development Competition

Daniel Cawrey (@danielcawrey) | Published on March 7, 2016 at 18:45 GMT


The former COO of bitcoin social network ZapChain, Dan Cawrey is a Silicon Valley-based writer specializing in emerging technologies such as bitcoin and virtual reality.
Here, Cawrey argues that the bitcoin ecosystem should embrace competition, but create a standards body so that such competition can be properly encouraged and managed.

Read More:
http://www.coindesk.com/bitcoin-extinction-core-development-competition/
1134  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 08, 2016, 01:07:06 AM
Check this out, physical cryptocurrency in the form of polymer banknotes. I think this is a very cool idea that could help bridge the "fintech generation gap".

http://www.polymerbit.com/

Pretty interesting, I wonder how they are preventing fraud.

My guess is they'll be keeping the private address to themselves, while displaying the public address on their bills so the balance can be verified. This would require trusting the company issuing the bills and anyone else with access to the private keys (staff, etc).

Yeah, like a closed system that uses digital currency, I just wonder if someone get's your ID number or whatever QR code represents if they can just print a copy of your bill. Sort of like how registers and atms need to ask for a pin, because the card number isn't very well protected.

That's a good point. It will be interesting to see what safeguards they can put in place to prevent QR forgery. I'd assume the forger would need sophisticated counterfeiting equipment in order to replicate the UV watermarks. This may not be economically viable for isolated thefts, however if they had means to obtain QR codes for numerous bills, it could be worthwhile.


To correct what I said earlier, here is how the public/private keys work:

"The private key can be used to take the balance from the banknote, Please note that the note becomes void if the key is exposed (you need to peel the public key off to see this key)."

Ahh, that makes sense. So in that regard, it's more like those digital coins and such (a paper wallet), it just looks like a bill.

Looks cool. But is it practical and would there be legal and compliance issues? Additionally, trust will remain a huge issue for larger amount.
1135  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 07, 2016, 05:13:16 PM

Very helpful article. Excellent work and thank you for your valuable contributions, Chase.
1136  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 07, 2016, 05:10:25 AM
Going to have a designer work on the cover for the book. For your reference, here is the mock design. We have changed a few things since, like the title Improve Your Odds: The Four Pillars of Business Success. If anyone has any ideas, or is interested in participating in the design, now would be a good time. We are getting closer by the day, so we want to get everything ready.

A local DNotes stakeholder has shown some interest in the book and had a couple questions: Will physical copies be available or is it an e-book, and what retailers might we expect to carry it?

The current plan is to have it available in all formats, Paperback, Hardcover, Ebook, Kindle, and the apple format. Available everywhere. We are planning to have it available in all the major book stores, Barnes & Nobles, etc... We can't say for sure before we actually work through the publishing process, as I'm sure there will be a lot of hurdles along the way. There will be a lot of work involved, as we intend to self publish and self promote for the most part, and we are doing everything we can to prepare for it. We are considering launching a kickstarter project prior to it's release to help the marketing process and get the word out.

It may take a while, but Joe is correct that the book will be "available everywhere". My most important personal objective is to ensure that the book will go a long way as a source of inspiration and words of wisdom to many; especially small business owners and their employees.

Thanks guys, they were very happy to hear this. I'm really looking forward to this book for the valuable business wisdom Alan's experience can provide. I'm going to take what I learn and use it to benefit worthy non profit initiatives.

     I have been harping on Alan for over ten years to write a book! He has been preaching this sermon for many many years. It is not some "pie in the sky" theory. These concepts have been proven in the real world. They way the book pulls all these inter-related concepts together is even better than I imagined!

     Kudos, Yoda......

Smokey

Thanks, Kevin.
1137  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 07, 2016, 05:04:11 AM
Marked for delisting on c-cex!

Wargo, thank you for bringing this to our attention. I received an email noticed too. Our volume on Ce-Cex has always been quite low, but it is good to maintain our listing, if possible.

Based on Ce-Cex's email it will be delisted if an "average trading volume for the last month has not exceeded 0.2 BTC/day (or 6 BTC for last 30 days): ......  We will not remove those coins if they reach minimum trading volume requirement."

I will do my best to increase my trading at Ce-Cex. Any help from our community will be very much appreciated.

The book is still on track to be completed this month. We are hopeful that it will be published in early April with a dedicated website. This is the largest project we have embarked in our history and expected to be a very significant foundation block to help propel DNotes forward. Although, it has been extremely demanding for me, I believe that it is well worth it. We will be posting more details later. And again, my sincere thanks to those of you who have been working hard to support me on this project. It is an awesome book, accomplished with great team efforts.  



Update: DNotes will retain its listing at C-Cex. Thanks for increased community support.
1138  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 06, 2016, 09:36:30 PM
Going to have a designer work on the cover for the book. For your reference, here is the mock design. We have changed a few things since, like the title Improve Your Odds: The Four Pillars of Business Success. If anyone has any ideas, or is interested in participating in the design, now would be a good time. We are getting closer by the day, so we want to get everything ready.

A local DNotes stakeholder has shown some interest in the book and had a couple questions: Will physical copies be available or is it an e-book, and what retailers might we expect to carry it?

The current plan is to have it available in all formats, Paperback, Hardcover, Ebook, Kindle, and the apple format. Available everywhere. We are planning to have it available in all the major book stores, Barnes & Nobles, etc... We can't say for sure before we actually work through the publishing process, as I'm sure there will be a lot of hurdles along the way. There will be a lot of work involved, as we intend to self publish and self promote for the most part, and we are doing everything we can to prepare for it. We are considering launching a kickstarter project prior to it's release to help the marketing process and get the word out.

It may take a while, but Joe is correct that the book will be "available everywhere". My most important personal objective is to ensure that the book will go a long way as a source of inspiration and words of wisdom to many; especially small business owners and their employees.
1139  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 06, 2016, 03:34:15 AM
From CryptoMoms:

Quote from: Ashley on Today at 12:32:49 AM

Good question. Can private private blockchains be trusted?

Can Trust-Based Private Blockchains Be Trusted?     http://www.coindesk.com/can-trust-based-private-blockchains-be-trusted/

Quote From Shepherd Today:

Thanks for posting the link, Ashley. The answer is "No". But to be fair, no one that I know of has ever claimed that "private" or "permissioned" blockchain is a trustless consensus system. Private blockchain is just a glorified version of database. The trustless consensus system that makes digital currency and blockchain highly revolutionary is replaced with "trusted" intermediaries.

"Private" or "permissioned" blockchain is centralized and must be based on trusted parties and we know that "trusted" parties can not be trusted 100% of the time. Hence, I am in total agreement with the authors' conclusion below:

"There's a warning here for companies seeking to utilize blockchain technology: beware and become aware. Beware the software-workaround salesman selling 'eternal immutability'. Become aware of the underlying elegance of bitcoin – it's not the software that makes bitcoin so efficient, it's the economics.

As can be expected, when it comes to blockchain technology and historical record immutability, there really isn't a free lunch
."
1140  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][NOTE]DNotes - Company Launch and Book for Small Business Owners in 2016... on: March 05, 2016, 01:29:20 PM
Marked for delisting on c-cex!

Wargo, thank you for bringing this to our attention. I received an email noticed too. Our volume on Ce-Cex has always been quite low, but it is good to maintain our listing, if possible.

Based on Ce-Cex's email it will be delisted if an "average trading volume for the last month has not exceeded 0.2 BTC/day (or 6 BTC for last 30 days): ......  We will not remove those coins if they reach minimum trading volume requirement."

I will do my best to increase my trading at Ce-Cex. Any help from our community will be very much appreciated.

The book is still on track to be completed this month. We are hopeful that it will be published in early April with a dedicated website. This is the largest project we have embarked in our history and expected to be a very significant foundation block to help propel DNotes forward. Although, it has been extremely demanding for me, I believe that it is well worth it. We will be posting more details later. And again, my sincere thanks to those of you who have been working hard to support me on this project. It is an awesome book, accomplished with great team efforts.  



 
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