Interesting article on why Jamie Dimon is wrong about bitcoin. Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin...“I think Jamie — who I’ve spoken to about this in the past — he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency, and I think where Jamie is probably less informed is around the inability for governments and banks to actually do that. In the case of Bitcoin, there’s no one to put in jail, there’s no company to shut down . . . If society decides that bitcoin is money, there’s nothing that JPMorgan, the Federal Reserve, or anybody [else] can do to stop it. But it’s still very early.” http://insidebitcoins.com/news/barry-silbert-on-why-jamie-dimon-is-wrong-on-bitcoin/36037I believe that is a very valid point, government is to support its people, not try to stand in the way of progress. If people decide we need digital currency, the government should support it. "he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency" The bankers like Jamie Dimon are not just going after Bitcoin and digital currency. They are now fighting an explosive FinTech industry that has been eating away their breakfast and lunch. His fear is that this bunch may eventually show up at his dinner table. Jamine was from Chicago. I used to like that guy and thought that he was the best banker. After listening to a few of his outrageous statements concerning Bitcoin, I have serious doubts if he has a clue what he was talking about. The banking and financial services industries will be massively disrupted by the new financial technologies including digital currency. The smart one will finally figure out how to collaborate. We just have to stay our course and wait for our turn. |
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" . . . A good majority of Bitcoin based businesses have come and gone, the fewer of these fly by night operations DNotes is associated with the better. By biding time, DNotes can pick and choose which businesses to team up with . . . "
Ahh! IndiaMikeZulu, those goofy P2P guys! In-community merchant-network development, as the first block in the wall, has been our call for . . . ummm . . . 30 months.* Every Dnotes person who has a business, every Dnotes person who can get hold of some wholesale digital goods, every Dnotes person (in a particular nation) who wants to tackle selling 10-oz silver bars for Dnotes, can sell those goods and products in-community.
Do it!
*Although we only actually managed proof of concept, Ian and I were running 'Yacoin Australia' in 2013. We offered Yacoin (in 'packets') for $AU -- making Yacoin at that time only the third crypto to ever be sold for two different fiat currencies -- and bars of silver for Yacoin.
Mark (IndiaMikeZulu), Australia
It is a good idea to develop a relationship with those who are currently involved in gold and silver. I have a few LinkedIn connections I might approach when I have a little more time. Finishing the first draft of my book is currently my highest priority. It may not be easy to understand why it is so important. "We do things others won't do, so that one day we can do things others can't do" That has always been my business philosophy. As can be expected, our team has invested a significant amount in DNotes, the currency. If that is all we needed to do, we will not be much different than the other altcoins. We have also invested a significant amount in our ecosystem, but alone with a huge amount of efforts and other resources. We know that this is what sets DNotes apart from the others and given sufficient time it will make it difficult for others to replicate what we have accomplished. It is also the best path to building a trusted brand and the best strategy to gain acceptance of DNotes as a medium of exchange. We know for a fact that small business owners, including women small business owners, are struggling. Many employees have also been struggling along side with them and many of them have not seen a pay raise for years. Yet quitting is often not an option, because there are very few jobs available. We also know that majority of new businesses failed during the first years in business. New business formations are dropping from over 500,000 to 400,000 against 470,000 in closings. Only about 10% of business school students are thinking of starting their own business upon graduation, significantly lower than what I remember when I graduated with my MBA. I started my first business upon graduation. These are all very interesting dynamics. My book is being written to help provide some relief. I am very passionate about helping small business owners and there is a great fit in what DNotes has been doing, including CRISP For Retirement, CRISP For Employee Incentive Benefits and the best path to adaption of DNotes as a medium of exchange. What else is significant? The book is our first revenue producing project of the new company. Although not finalized it could be offered along with a subscription site, along with many partners offering a whole array of business services. We believe in offering things of substance to create a useful purpose for DNotes. This is very different than the prevailing mind-set of our industry. I don't expect everyone to agree with our approach and strategies but that is always the case and that may be a good way to explain the current correction of DNotes price. People always re-evaluate their investment and adjust their position from time to time. When a new trend developed, many just follow, often without knowing why. That is the dynamics of free market investing. |
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Very well expressed and objective view point, mochillies. I appreciate that you took time to communicate your opinion, which, I have no doubt is shared by many others and most likely explained why there has been a sudden drop in the demand for DNotes.
“Speculation is NOT a dirty word. I feel this community sees speculators as pump and dump vultures. We need to expunge this toxic idea from our consciousness. Speculators are not the enemy, they are the lifeblood of a project like this. When Google and Facebook and Amazon IPO their companies on the market, they're offering shares to SPECULATORS to catapult their business potential into the stratosphere. The best thing a company can do to grow is to attract speculators on purpose by offering them shares, or in our case coins.”
I agree with you that speculation is not a dirty work. Loosely used, we all are speculators and all business owners and investors are speculators. We are not against speculators or have made any attempts to discourage them from investing in DNotes. This is a free market. People buy and sell at will. However, I can say this definitively:
• We do not support pump and dump, but not all speculators are part of P&D
• By strategic choice DNotes is positioned as a long term investment and as such not likely to be a favorite of short term investors
• DNotes is not dependent on the industry as its only market target. It has been positioning itself to reach out to the global market, as reflected in the creation of CryptoMoms, Family of CRISPs, DNotesVault and DCEBrief. Achieving marketing penetration beyond our industry, is a very long process with little near term payoff but the correct path to gain mass acceptance over the long haul. This will not happen overnight. A 5 to 10 year period reasonable for any long term investment.
• We believe that the true value of DNotes can only be realized if it can meet the full functions of money (unit of account, store of value, and medium of exchange) not a single digital currency including DNotes and Bitcoin has succeeded so far. Consequently, I have to add that the bankers, including Jamie Dimon, CEO of JP Morgan Chase, has good reasons not to consider our industry as a threat. We will not be until there is a digital currency that can meet or exceed the full functions of money. That is DNotes’ strategic goal but it will take years to accomplish our mission, hence a long road ahead.
• Technology evolves quickly. Many great “innovations” in our industry that have driven the price of many altcoins to the “moon” are now ice-cold rocks on earth. Investing heavily in technologies before there are sufficient users’ demands is not the best use of limited resources. Many great ideas or projects failed because they invested heavily in technology and other infrastructure before there is sufficient need for what they have to offer. Investing heavily in payment network and mobile applications at this time or promoting DNotes as a medium of exchange is a loosing proposition. Many have tried and they all have failed.
Mochillies, I appreciate the time you spent to express your opinion, but I respectfully disagree that we have to change course in response to the DNotes price decline. I understand the concern and it is disappointing to me as well. That is the nature of speculative investing in a free market environment.
If you believe that there are things that you can do to help improve DNotes stakeholders’ value I am sure you will get the support of our community and it will be very much appreciated. We are all stakeholders with a mutual interest to see that DNotes be successful. It is very natural that there are differences of opinion on the best way of getting there. Perhaps if more people could pitch in to help, it may make a difference.
Ok, lets look at price. DNotes is currently number 174 out of 672 AltCoins in price alone. But, we number 38 out of 672 in Market Capitalization. Sorry, I don't see a problem here. As with all things in nature and human kind, slow and steady is the way to lasting success. At the present time, it is less important that each DNote has a high value, then it is that people know about DNotes, wither they use, or hold them, or not. As a relatively new coin, DNotes has done quite well in it's short lifetime. As the coin matures along with it's ecosystem, the value will start to rise, slowly. And that is the key. Almost all altcoins that have achieved a high monetary value in a short time have either failed completely or are almost worthless now. There are some exceptions but, they mostly serve niche markets, some of which DNotes would not want to be connected to. Our marketing will spread the word in a realistic and sustainable manor. There is no long term value to being a "flash in the pan". Consider this analogy; the Pyramids in Egypt still stand, they took a lifetime to build. Your typical house built today in a month will be gone a hundred years from now. Slow and steady with solid foundations will endure the test of time, and with time comes value. On a different subject but, not far removed, here's one of the best articles on crypto detractors and supporters I have ever read: http://bit.ly/1NgEGLL In some ways it speaks to Notes as well as Bitcoin. Thanks, RJF. That is indeed one of the best articles ever published in our industry. Bitcoin as a digital currency is a proven technology. It works perfectly and no one has won a fight challenging that. So that battle has indeed been won. Those who dismissed that are either misinformed or do not know what they are talking about. Using just the Blockchain to facilitate the movement of decentralized fiat currency does not turn fiat currency into decentralized digital currency like DNotes. We are under no illusion that DNotes will replace fiat or national currency but we firmly believe that DNotes can be positioned to supplement fiat or national currencies on a global basis one day. We also believe that it is a worthy mission and a great deed for humanities. A digital currency that makes ownership available, with the same valuable for anyone worldwide, is by far a better choice, than a fiat currency at the mercy of a single nation subject to corruptions and political turmoil. We also know that to make that possible, it takes an unrelenting strategic plan that takes years to execute. |
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Quote From DNotes:
On top of what you can see in our marketing efforts that you may or may not have noticed, there is a massive effort that happens in the background as well. For instance, you may not have heard how often Alan is attending meetings, or the time he spends growing and interacting his network, or realize the importance of the book he is writing in terms of marketing and networking, or the huge effort from Chase reaching out to organizations for CRISP and CryptoMoms, or TeeGee spending time to reach out to students and universities, or the deals we have worked out to advertise our programs, or Chris who will be representing us and a speaker at a UK digital currency event, or the articles we have written to help promote some our programs. That doesn't cover everything of course, but my point is, there is a lot happening that may not be 100% apparent. That said we need all the help we can get, this is a massive project with many hurdles to overcome and lot's to do.
Quote From Dyna:
Thanks, Joe. I just want to add that there are many more supporters form our community who have been working behind the scene that deserve great credits without being specifically named. I wouldn't be able to name them all even if I try. However, the massive amount of work Brandon (CryptoBrooker79) has quietly invested in support of different projects is one I must add. Though we have offered some support, Brandon has independently developed DNotes Educational Guide, Veterans For Digital Currency and Firemen For Digital Currency. Those are significant undertakings, but all part of our strategic plans going forward.
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Right now I see NOTE as a lofty idealist architectural firm. The vision is good, if as-yet not well-defined in terms of specifics. We need some boots on the ground in the sales and marketing department too. That's real.
That is something we are working on. I recently made a CRISP video (and will be making more about DNotes and crypto in general) https://www.youtube.com/watch?v=BsXO8ttmSxwAlso, I have a seminar coming up this weekend in New Zealand for a "Students for Liberty" conference. I am one of three invited 'non-student' speakers (I'm known among liberty circles in NZ - 'tis a small country of 4.5 million people), I am going as a representative of DNotes, and not as a board member of 'Anarkiwi' - a freedom focussed community I began 18 months ago that promotes philosophy and the benefits of a stateless society (the capacity by which I was invited). The topic is "How to make NZ more prosperous". My talk will be about the "blockchain future" and how favourable regulations to cryptocurrencies will bring capital inflows to NZ, and discuss the blockchains applications in regards to efficiency, resource allocation, regulations, professionals... etc. I will spend a significant amount of time in the presentation discussing DNotes and how a globally accepted digital currency would benefit both the world, and New Zealand. The other two non-student speakers are much more distinguished than myself, both having been leaders of the NZ 'libertarian party' - one of them was the Reserve Bank Governor Chairman for 14 years (Fed Chairman equivalent), and the other an award winning journalist who is also a Philosophy lecturer from Cambridge university. I had brunch with the RBNZ Chairman during an election campaign 4 or 5 years ago, and I look forward to meeting the philosopher in person. I think it is a good opportunity to get DNotes brand out there, we are engaging and marketing, and some of the people present will be well connected. DNotes as a team also rely on value growth to fund further projects, so we are definitely with you on the 'enormously invested' part you mentioned. Here is me:  Don Brash - Former World Bank Economist and Reserve Bank of New Zealand Governor  Jamie Whyte - Who has a very interesting mind.  It is a start, and there is much more to come. I have requested the talks be filmed, and the organisers agreed. I have 6 more days to prepare it  . Impressive, Tim. Very proud of you. |
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Very well expressed and objective view point, mochillies. I appreciate that you took time to communicate your opinion, which, I have no doubt is shared by many others and most likely explained why there has been a sudden drop in the demand for DNotes.
“Speculation is NOT a dirty word. I feel this community sees speculators as pump and dump vultures. We need to expunge this toxic idea from our consciousness. Speculators are not the enemy, they are the lifeblood of a project like this. When Google and Facebook and Amazon IPO their companies on the market, they're offering shares to SPECULATORS to catapult their business potential into the stratosphere. The best thing a company can do to grow is to attract speculators on purpose by offering them shares, or in our case coins.”
I agree with you that speculation is not a dirty work. Loosely used, we all are speculators and all business owners and investors are speculators. We are not against speculators or have made any attempts to discourage them from investing in DNotes. This is a free market. People buy and sell at will. However, I can say this definitively:
• We do not support pump and dump, but not all speculators are part of P&D
• By strategic choice DNotes is positioned as a long term investment and as such not likely to be a favorite of short term investors
• DNotes is not dependent on the industry as its only market target. It has been positioning itself to reach out to the global market, as reflected in the creation of CryptoMoms, Family of CRISPs, DNotesVault and DCEBrief. Achieving marketing penetration beyond our industry, is a very long process with little near term payoff but the correct path to gain mass acceptance over the long haul. This will not happen overnight. A 5 to 10 year period reasonable for any long term investment.
• We believe that the true value of DNotes can only be realized if it can meet the full functions of money (unit of account, store of value, and medium of exchange) not a single digital currency including DNotes and Bitcoin has succeeded so far. Consequently, I have to add that the bankers, including Jamie Dimon, CEO of JP Morgan Chase, has good reasons not to consider our industry as a threat. We will not be until there is a digital currency that can meet or exceed the full functions of money. That is DNotes’ strategic goal but it will take years to accomplish our mission, hence a long road ahead.
• Technology evolves quickly. Many great “innovations” in our industry that have driven the price of many altcoins to the “moon” are now ice-cold rocks on earth. Investing heavily in technologies before there are sufficient users’ demands is not the best use of limited resources. Many great ideas or projects failed because they invested heavily in technology and other infrastructure before there is sufficient need for what they have to offer. Investing heavily in payment network and mobile applications at this time or promoting DNotes as a medium of exchange is a loosing proposition. Many have tried and they all have failed.
Mochillies, I appreciate the time you spent to express your opinion, but I respectfully disagree that we have to change course in response to the DNotes price decline. I understand the concern and it is disappointing to me as well. That is the nature of speculative investing in a free market environment.
If you believe that there are things that you can do to help improve DNotes stakeholders’ value I am sure you will get the support of our community and it will be very much appreciated. We are all stakeholders with a mutual interest to see that DNotes be successful. It is very natural that there are differences of opinion on the best way of getting there. Perhaps if more people could pitch in to help, it may make a difference.
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Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.
DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.
As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.
We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.
I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.
I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring. Next fell from $14 million, last July to $6.1 million today. It was at $73 million in May 2014. Many other altcoins have done as badly or worse. I am fairly confident that DNotes will be testing the last low of $730,000 (January 2014) and should start recovering from that point. Until the fundamental values can be substantiated by a profitable company, reliable stability is simply not achievable. I was hopeful that investors can see the value of our ecosystem. Perhaps not. But until stability can be contained, mass acceptance of any digital currency is not achievable. We strongly believe that our long term business model is correct and promoting DNotes as a medium of exchange prematurely is not a viable idea. Strategically, we are absolutely on the right track. Those who can see the value in what we are doing will hang on to their DNotes. The rest of them may not be as patience. DNotes is at the stage in which an investor not familiar with crypto decides they want to invest in DNotes, they really don't care whether the price is 1 cent or 1.5 cents. They want $200+ worth and are thrilled when they get 10 or 20 thousand. Four big buys on a Friday can drive the price up 40% only to fall back down until the next round of investors discover DNotes. We will keep seeing this until the 'steady savers' enter the picture and start using the CRISPs as the long term savings plans they were designed to be. Steady monthly deposits by thousands of people to their CRISP will level this volatility out in a hurry. Only DNotes has this feature. As time progresses, it will be easier to purchase DNotes, more people will enter the cryptocurrency world, and all of DNotes' works in progress will start making it obvious why DNotes is the most undervalued cryptocurrency there is. I think Wiser may be right on the Christmas shopping at least for some people. This has happened before where someone decided to sell their DNotes because they needed something, with the intention of buying them back later, only to have the price go way up. I am very confident we are all doing things right at DNotes!! Thanks, Chase. It's good that our community can address an obvious concern that must be in the mind of our stakeholders. We will always be responsive and committed to doing what is in the best interest of our stakeholders. Even the best bull market has periods of correction. This is our first major correction. I am looking forward to a great 2016. |
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‘Strategically, we are absolutely on the right track.’
What is noteworthy here is the cool-headedness of the conversation. Yup, our resolve gonna be tested!
Here’s my two cents’ worth:
the alt-to-Btc ratio has slipped under 9%. That is, everyone is crowded over by the Bitcoin-back-to-dollars doorway.
Why? Well, the Big Sideways is over. We are now forever beyond mere guy-in-mom’s-basement geekdom. Meanwhile, though, negative and distracting forces abound, so players want to be able to nip in and out of fiat.
However, when Bitcoin’s price begins to steadily – ‘organically’ – rise*, capital will flow unto the alts.
(Ian and I have seen the alt-Btc ratio at 25-75%.)
Mark (IndiaMikeZulu), Australia
*[Sigh] 2016 is shaping up to be economically ugly = good for cryptos.
Mark, you are an amazing friend. We really appreciate your wisdom and support. I do have very serious concern on the state of the global economy. Hopefully, DNotes will be a significant source of protection for a lot of people before the next major financial crises. |
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Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.
DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.
As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.
We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.
I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.
No concern here, I certainly wouldn't sell any of mine, I just see an opportunity to buy! It would only take like... 2 btc and the price would be back at 4000 satoshi. I would purchase all that if I could! The value of the various web properties created is definitely not factored into the price of DNotes, and that shouldn't really be a surprise - DNotes has not yet pushed to become a mainstream currency, and has not yet enjoyed the hysteria and growth associated with a successful marketing push one could expect to accompany such a plan (with funding). The web-properties however, will serve an important function in advertising the benefits of DNotes over other digital payment mediums at the most opportune time. As per usual, the selling is probably just a bot that needs to be reckoned with, and there is no point in feeding it. For now, DNotes is a speculative asset, and as such, it is much better for sellers to transfer their DNotes into the hands of others who will value them longer-term. Build the infrastructure before it is needed, not after it is announced in the media you have been given funding - while everybody is wondering who you are, and what you're going to do just because you raised $xyz. Thanks for your support and confidence. I know that you have a big presentation coming up in a week. We know that you will represent DNotes well and are proud that you will be a speaker among some big names. It will be great if they can make a video available. Good luck. DNotes should be fine over the longer term. We know that we are doing all the right things. I agree that at this point anyone looking at DNotes by itself, like Bitcoin and all other altcoins, it is just a speculative asset. It is precisely because of that, we decided that it must be supported with its own ecosystem in the form of a for profit company. As much as it is disappointing to see the price dropped so much for no known reasons, it is proving our point that we are on the right track. Over the long run the value of the currency must be supported by fundamental values. |
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Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.
DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.
As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.
We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.
I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.
I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring. Next fell from $14 million, last July to $6.1 million today. It was at $73 million in May 2014. Many other altcoins have done as badly or worse. I am fairly confident that DNotes will be testing the last low of $730,000 (January 2014) and should start recovering from that point. Until the fundamental values can be substantiated by a profitable company, reliable stability is simply not achievable. I was hopeful that investors can see the value of our ecosystem. Perhaps not. But until stability can be contained, mass acceptance of any digital currency is not achievable. We strongly believe that our long term business model is correct and promoting DNotes as a medium of exchange prematurely is not a viable idea. Strategically, we are absolutely on the right track. Those who can see the value in what we are doing will hang on to their DNotes. The rest of them may not be as patience. |
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Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.
DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.
As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.
We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.
I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.
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Great video. Blockchain may be called by different names, but centralized currency does not become decentralized currency by being routed through blockchain ledger. It will save participating banks time and money, allowing them to save on payroll by reducing employee head counts. Consumers are not likely to see reduction in fees as banks struggle to adjust and survive in a new era of exploding new financial technologies (FinTech). |
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Here is a rather rosy report about the future of Bitcoin. Our industry will that all the good news it can get. Just notice that everyone is pushing the mass acceptance forward. It always takes longer. BITCOIN PROJECTED TO BE SIXTH LARGEST GLOBAL RESERVE CURRENCY BY 2030Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs. Block chain is “without question” the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on a par with big data and machine learning. He compared the block chain to JAVA, saying that the block chain is to financial services what JAVA is to the Internet. Millar also noted that the block chain will be the “default global standard distributed ledger” for financial transactions. $1 Billion To Be Invested Short Term The leading 100 financial institutions will pump $1 billion into block chain and bitcoin related projects in the next one to two years, the research indicated. It also found that the top banks hold portfolios with 10 to 20 bitcoin-related initiatives. These include wire transfers often complemented by the storage of “meta data” in settlement and clearing. The block chain’s potential in finance is even greater due to its flexibility and robustness, the research indicated. Potential uses include property registries, security infrastructure and direct payments. The top private block chain firms are currently securing “seven figure” contracts with financial institutions. Some of the initiatives have proven to be robust enough to satisfy production needs and are “near production.” Banks will be reluctant at first to change the infrastructure that manages clearance and settlement, Millar said, but they will deploy parallel bock chain processes as a result of the growing block chain investment. Developing Markets To Adopt Bitcoin QuicklyRising acceptance of bitcoin in developing markets will result in widespread business and consumer adoption. The main use of bitcoin in developed markets is speculation, the research noted. The lack of volatility in bitcoin and the yield in traditional classes of assets are resulting in the creation of ETF equivalents or “money market funds.” The company estimates 90 percent of bitcoin is held for speculation as opposed to commercial transactions. At the same time, estimates indicate 90 percent of bitcoin transactions by volume are commercial ones, oftentimes in developing countries. Futures trading volumes are triple or more the volumes on stock exchanges, Millar said, noting that it is important not to underestimate the significance of speculation by traders. Some large wallets report that 90 percent of bitcoin transactions take place in developing markets. Major bitcoin remittance players include Abra, Atlas and Bitpesa. With 2 million smartphones becoming active daily and with corruption a factor in developing economies, the question arises: why have a bank account? 1 Million Daily Bitcoin TransactionsData from blockchain.info reports there are close to 120,000 daily bitcoin transactions, Magister Advisors notes. However, this number under-reports the total transactions since it doesn’t include 300,000 “off chain” transactions by major wallet/vault companies like Xapo, Circle and Coinbase. The number of daily transactions is closer to 1 million, according to Millar. Source: https://www.cryptocoinsnews.com/bitcoin-projected-sixth-largest-global-reserve-currency-2030/ |
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We are starting to get some accurate information now on just how disruptive cryptocurrency and all associated new technology is going to be for the banks. Of course the accurate information is NOT coming from the banks. ***** "Ex-Barclays CEO: Banks are about to have an 'Uber moment' — and it's going to be painful"Antony Jenkins, the former CEO of Barclays, has a nightmare vision for the future of big banks. In a speech in London this week he said: "The incumbents risk becoming merely capital-providing utilities that operate in a highly regulated, less profitable environment, a situation unlikely to be tolerated by shareholders." Jenkins says a series of Uber-style disruptions in the industry could shrink headcount at traditional big banks by as much as 50%, while profitability in some areas could collapse by over 60% — huge predictions from a man who, until recently, ran one of Britain's biggest banks.He adds: "In my view only a few [incumbent banks] will have the courage and decisiveness to win in this new field." The problem? Financial technology, better known as fintech. Jenkins, who was ousted as Barclays CEO in July, says a new wave of tech-savvy startups that can do things better, faster, and cheaper than the big banks will disrupt their traditional businesses like lending, payments, and wealth management. He isn't alone in thinking this. A survey by software firm Temenos released on Thursday found 27% of senior bankers named tech companies as the biggest threats to their businesses. In fact, we're already seeing it happen with startups like Lending Club and Funding Circle (lending), Square (payments), Nutmeg (wealth management), and TransferWise (international payments) — all of whom Jenkins name checks in his speech at Chatham House. Jenkins recently visited Silicon Valley to hobnob with fintech types out there and it's convinced him that financial services are about to be disrupted in the same way publishing, telecoms, and the music industry have been. He says: We will see massive pressure on incumbent banks, which will struggle to implement new technologies at the same pace as their new rivals. That will make it increasingly challenging for them to deliver the returns and profitability that their shareholders demand.Ultimately, those forces will compel large banks to significantly automate their business. I predict that the number of branches and people employed in the financial services sector may decline by as much as 50% over the next 10 years, and even in a less harsh scenario I expect a decline of at least 20%. A halving of headcount and branches over 10 years! That is a huge decline. The prediction coincides with reports that Lloyds is poised to axe 1,000 jobs as part of branch closures and increased automation. Full article: https://search.yahoo.com/search?fr=mcafee&type=C211US876D20151107&p=This+is+the+%E2%80%9CUber+moment%E2%80%9D+for+banksThe entire banking and financial services industry will experience increasingly disruptive threats on a global basis. There is no place to hide and banks will continue to push back hard. Disruptions are not coming from Bitcoin and digital currency alone. The real "Uber Moment" will be when tens of millions of outlets are permitted to act a payment banks. Technically every Point of Sales (POS) is an ATM. Strictly speaking they are money changers. There will come a day when the citizens of the world can purchase $10 of DNotes from any POS like they can purchase $10 worth of other goods and services. This may be years from now but it will happen. But there will come a day when many DNotes transactions will be between two parties without middle men at nearly zero fees. That is when DNotes will become far superior to fiat currency. Money distribution will be widely available due to the "Uber" model but the "fees" will not go away. Meanwhile, the "Uber Moment" may already taking place for banks in India: “ Payments banks can act as business correspondents for commercial banks and transport their services to almost every nook and corner of the country
RBI’s decision could lead to the development of an ecosystem wherein commercial banks can now tie up with any payments bank to access an elevated technological expressway to reach customers in far off places
Reserve Bank of India (RBI) permitted 11 entities—mostly companies—to set up payments banks. In the process, it rewrote precedence in Indian banking.
Payments banks offer the proposition to reach a significantly wider base of customers, which the existing banking infrastructure may take a long time to reach. Thus, commercial banks can use these payments banks to piggyback and offer loans and other such services which a payments bank cannot offer as they can only take deposits.
Payments banks can act as business correspondents for the universal banks and transport their services to almost every nook and corner of the country.
Delivering his Independence Day address, Prime Minister Narendra Modi summed up the NDA’s approach and said, “We resolved that we would erase this blot and would provide a solid base to the financial inclusion which is talked about the world over, by integrating the poorest of the poor to the mainstream economic activities; and this is only the beginning.” |
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It may be prudent to allocate some development resources to build an Electrum wallet for Dnotes, as with many other currencies. In that way we can offer a lightweight client for the majority of cryptocurrency users who prefer to manage their own wallets locally, without ever having to download the blockchain. Storing everything in the guaranteed vault is ideal for long-term storage, but for day-to-day usage people will want to have a local client that doesn't need burdonsome syncing. Electrum is perfect for this, and the platform is fairly easy to adopt.
Good recommendation, Mochilles. We considered various developments at the time when DNotesVault was developed but later decided to put them on hold and focused on doing the best job for DNotesVault, which I believe we did. 2016 will be the year to expect multiple projects in development. We expect to start promoting DNotes as a medium of exchange at the later part of next year to include mobile payments, among others. That is when a lite mobile wallet will be of great value. The concept of "freezing" address in Electrum wallet is an excellent idea for convenience and protection. You can not send funds out if you do not have enough funds in non-frozen addresses. It's like you don't carry more cash than you are comfortable but have the means to get more (unfrozen another address) if you need to. Up to this point, DNotes and its ecosystem have been privately funded, without asking for donation from our communities. The funding and maintenance cost, including what we have invested in public relation is significant but does not seem to have been reflected in the price of DNotes. If VC funding were used in building the infrastructure we have today, I would expect the amount to be significantly higher than DNotes market value of $1 million. We are committed to a very long term strategy in building DNotes to be the trusted global digital currency for everyone worldwide to participate. To that end, it is well worth our dedication and contributions. We are fortunate to have amazing communities that contributed to our success in many different ways. Thank you all. Happy Thanksgiving. |
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This is a great article! I've actually watched the silver market fairly closely since before its big bubble, and it's been quite stagnant ever since. The important thing to know about buying silver is that you want to take physical delivery of your silver. In other words, buy actual silver, not just shares in silver. Silver in your possession could potentially be helpful in any number of apocalyptic economic situations. But if you only buy silver shares, otherwise known as "paper silver," it won't be much help to you in the event of major economic problems. The factors behind the spot price of silver are numerous and complex, but one major one is the fact that there is more paper silver than actual silver circulating, which means that if everyone owning paper silver were to suddenly demand physical delivery, there wouldn't be enough silver to fulfill all the orders. That's why it's actually very important to buy real silver if you are investing in it for the long haul. Excellent advice, Wiser. "Silver in your possession could potentially be helpful in any number of apocalyptic economic situations." I agree, thanks. |
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Happy Thanksgiving to everyone in the United States. This is a very important day for family get together. Expect a quiet day. I will be gone most of today.
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Hi
I am a new Dnote user. I installed the client and started to synchronise the blocs. However it is very very slow.
It synchronizes only 1 block per second ! There is more than 915000 blocks to download, it will take weeks to complete !!
How to speed up the blockchain download ?
Sorry if the question has already been answered, I can't read all the 400 pages.
Thanks
Welcome, kpoleau. Don't be sorry. You are a member of our community, and we're delighted to assist: gotta tackle this issue, campers, at the very least, state the reality of it. IndiaMikeZulu, although in a first-world nation, struggles with Australia's generally poor Internet quality.* Dnotes' vault is an option. We've resorted to a combination of (a) electrum wallets, and (b) lightweight wallets (android), and (c) sometimes storing each other's coin if the crypto has a bulky wallet, and (d) actually literally taking my laptop to town (to our Tech Officer's home . . . ) in order to do the initial wallet download. Note: when the speak of services to the 'unbanked,' it's high time we asked about the cost of the data they'd use. The day I got out of hospital, it cost me $22 worth of data to synch my wallets (which included -- we've ditched it since -- my 'Bitcoin Behemoth.') *It's one reason we plumped for a generally Australian-centric crypto-geekin' model: Oz has a range of concerns that make cross-coin-community cooperation sensible. No joke, readers, the next crypto wallet south of this keyboard is Antarctica. Welcome to DNotes, kpoleau. Feel free to let us know anytime we can be of help. Mark is right, we are always delighted to assist. We recognize that downloading the Blockchain and maintaining your own wallet is burdensome. As a result of that, we created DNotesVault for the convenience of our stakeholders. It is not only easy to setup an account, we guarantee the safety of your deposit with 100% matching fund secured at different locations. Though our investment and maintenance cost is significant, this unique service is provided to our stakeholders free of charge. We are here for the long term and dedicated to the mutual benefits of everyone. DNotes is doing many things uniquely different and in most cases, doing our part to help solve many challenges confronting our industry. |
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Another excellent article. DNotes' ultimate goal is to reach the point one day when the vast majority of the transactions are economic transaction between two parties. We believe that ground zero is starting with small business owners, including women small business owners. There will come a day when it makes a lot of sense for small business owners and their employees to trade among themselves using DNotes as the medium of exchange with no middleman and nearly zero fees. "Moy feels we’re on a path towards financial privatization once again, and in his eyes, bitcoin is the cryptocurrency that can lead us there: “I see bitcoin as the improvement in technology that allows money to be privatized again, back where it should be because it is my belief that one of the main uses of money is economic transactions. Why is government involved in economic transactions except for the ability to tax that transaction and get their income out of it? So, if money is primarily used in economic transactions between two people, then it makes a lot of sense to me that – if current technology allows, then money should be privatized because it’s used between two people.” DNotes founder Alan Yong shares this goal. “When the vast majority of DNotes transactions are between two parties, there will be little doubt that DNotes is superior to fiat currency,” he explains on the digital currency forum bitcointalk.org. DNotes sees the value in and has been focusing on growing its currency because of the power behind this concept. There is a huge benefit to having private control over your money, as it will make business much more efficient instead of feeding the bank and government. |
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The following is a rather lengthy interview with Andreas Antonopoulos, a well regarded expert of our industry. I totally agreed with Andreas that Bitcoin is not going to go away. Its highly disruptive nature has generated serious concern especially among the incumbents in the banking and financial services sectors leading to aggressive push-back. Given the time either Bitcoin or another digital currency like DNotes will gain mass acceptance. I also agree that “It's ridiculous to expect a six years old radically disruptive technology to simply become an "overnight success". The secret of overnight success is 10-20 years of development. “ CoinTelegraph: Do you think Bitcoin has already reached a “point of no return” where only dramatic events could really kill it, or do you think there’s still a certain percent of chances that the system will just collapse and make it disappear? Andreas Antonopoulos: Bitcoin is the proof-of-concept for decentralized network-centric money and finance. That concept is now established and shown it can scale and thrive. Whatever form it takes in the future, whether it is Bitcoin, something different called Bitcoin or something called something else, the concept of network-centric money happened. It will continue to disrupt the global financial system for decades. In the long run it cannot be stopped because it is an idea based on math that can't be uninvented. …… We're in the 6th year of this technology. It's like giving up on the Internet in 1992 because there were not enough users. It's ridiculous to expect a six years old radically disruptive technology to simply become an "overnight success". The secret of overnight success is 10-20 years of development. The important trends in Bitcoin are all showing fantastic results: innovation, tech development, investment, transaction volume etc. People need to have more realistic expectations and a bit of patience. The blockchain bandwagon is about as interesting as the development of corporate intranets in the late 90s. It doesn't lead anywhere revolutionary, it's just a distraction for banks trying to avoid disruption by taking half-measures.” Bitcoin: Left For Dead Hundreds Of Times - Still Alive And Kicking11-25-15 Cointelegraph Author: Marco E. G. Maltese BitcoinCT r: 7 has been left for dead… hundreds of times in the last 5 years. But it’s still here between us, in better health than ever and there’s no sign it’s going to leave us anytime soon. The question is: why so many experts keep failing at declaring it dead ahead of time? We’ve invited Mr. Andreas Antonopoulos to share with us his view on the matter, and what he thinks about the solidity of the Bitcoin system itself at the current time. Read More: http://cointelegraph.com/news/115722/bitcoin-left-for-dead-hundreds-of-times-still-alive-and-kicking |
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