This is not a new rule, so it should be treated as a new setback to the industry.

"The company didn't immediately register, and it kept selling the currency until the end of April" 2013. seemed to be the problem. Until we have a registered and licensed exchange and in fully compliance with regulatory requirements, DNotes does not, and will not offer to sell or trade its currency in the form of DNotes. Our current setup is inconvenience, but in our best long term interest to emerge as a major player.

"While its technology accommodates other currencies, Ripple also created its own virtual currency, XRP. FinCEN's said Ripple sold XRP at least as early as March 2013, the same month the regulator issued guidance stating that virtual- currency firms would have to follow U.S. rules for money transmitters, including registering with the regulator. The company didn't immediately register, and it kept selling the currency until the end of April 2013, according to a statement of facts that FinCEN released along with the settlement.

In September 2013, a Ripple subsidiary registered with FinCEN as a money-service business and started selling the currency again. The subsidiary was based in South Carolina, a state known for having relatively lax regulatory requirements for money transmitters.

The subsidiary operated for months without establishing basic money-laundering controls, such as appointing an officer in charge of compliance, FinCEN said. During that time, it also failed to report suspicious transactions, such as a $ 32,000 transaction in November 2013 that the company decided not to process because it "doubted the legitimacy of the overseas customer's source of funds."

Very creative, That is an excellent way to sell more gold at a nice mark-up and collect the usual high merchant account fees.

Just be patience. In less than a year various funds will start packaging DNotes as ETF and other forms of investment vehicles. DNotes will one day become the preferred choice for long term investment, especially for long term retirement and pension funds. Smart fund managers are beginning  to recognize that DNotes is building a immensely valuable brand. "TRUST" This is one of many secrets to DNotes success. Again, be patience. We do not want to rush it and it will take time to get all the necessary regulatory approvals.

If you are a student, do not wait to sign up for CRISP For Students. We do not sell DNotes, We just want you to have an ownership without having to pay for it. The value of DNotes is in the future. It is a diamond in the rough. Don't throw it away.

If someone did pay the price of an equivalent of $1750 per Bitcoin, it could be just 1 GBTC (one unit of the Bitcoin ETF) One Bitcoin = 10 GBTC(s) So that could have been a $175 trade, perhaps even less for fraction of a unit. That trade could have been done for sensational headline in a thinly traded market. If I remember correctly, they started out with 10,000 BTCs or 100,000 GBTCs.

Many traders do not trade based on fundamental values. They play the spread. They can also incorporate hedging strategies to protect themselves. Apparently, Bitcoin has become very attractive for day traders, and many more will want to play. I believe that Bitcoin will be around for a very long time. It is becoming a good vehicle for speculative trade, though it may not be a good medium of exchange for goods and services.

You are exactly correct, Qiwomen2. Among others, that is one of DNotes core missions. I am in the process of engaging many local and international organizations, introducing them to DNotes and our different projects targeting various global issues. DNotes is not the total solution. It is a vehicle to enable the most viable solutions when working together in concert with other international organizations, including those like Bill and Melinda Gates foundation who are extremely well funded. Together, many local/micro projects can thrive leading many to rise from poverty.

Our community and potential investors need to know that DNotes is a digital currency for everyone and not just the privileged few. Our missions are ambitious and even aggressive. That is factually correct. We have embarked on a very bold mission. It has taken us over a year to build a solid foundation and our own ecosystem system utilizing highly scalable building blocks. To me, it is not the size or scope of the project. It is about developing winning strategies and great executions at the most opportune time.

Thanks, Mark. I have always worked hard in my life but must add that I have never worked this hard. What truly challenged me are the possibilities that this can truly be utilized in a global scale to improve the standard of living for millions, perhaps a lot more, around the world. I always believe that the principles of managing a small project successfully are the same as managing a very large project even of full global scale. This is the challenge of I life time.  I am honored to give it my best shot and most appreciative of the help, kind words and encouragement you all have given me.

I have now built up over 1000 LinkedIn connections with people from many different industries, fairly well represented around the world. This is part of our strategic positioning to take DNotes to the next level. We will succeed where Bitcoin has failed. There must be trust and integrity in building a digital currency  for everyone and not be limited to the privileged few. We trust that the hard work we put in, will mutually benefit everyone who contributed to its success.

 Interesting reading. It is a pity, but that is not the only sad story in our industry. It is the norm than the exception. A good idea is just not good enough. Even having the smartest coders and a boatload of VC funding may not be good enough. In my 40 years as a super charged entrepreneur, I have never seen any business or industry as challenging as this one. Neither have I ever spent so many hours, and still watch my list of projects and tasks grow by the day. It does not look like that there is much time to rest until I am firmly convinced that DNotes has established a solid foundation. In other words, the master mold has to be completely built and ready to punch out as many parts as there is demand for. I trust that we are no more than a year from that point.

CRISP For Employee Incentive Benefits will be officially launched during the week of May 25, 2015 with a full press release. That is another building block vital to complete our master strategic plan. It will be paired with our already launched CRISP For Retirement targeting small business owners from start-up to $50 million in revenue. It may take a generation to win them all but, learning from indiamikezulu it may only take a few small cities to prove that DNotes is indeed superior to fiat currency. We know the value of DNotes as a "Unit of Exchange",(about 5,000 satoshi) we know that it has been a great "Store of Value" ( appreciating from about 200 satoshi in March 2024 to 5,000 satoshi today) Our new stakeholders and their employees will soon find out that it is far superior as a form of payment with near zero transaction fees, and added cost of charge-backs. Based on our track records of consistently creating higher highs and higher lows, it may even be worth a little more by the time or merchants have a chance to cash DNotes. Yes, it  also comes with a few competitive advantages. 

The world we live in has always been dynamic, constantly reacting and adjusting to the needs for change. What we could be underestimating this time is the massive potential for job and wealth creation. We are already living in a hyperconnected world with super-computing power at our finger tips. Over five billion people will be online equipped with significantly more powerful computing power by 2020. Technologies have always been ahead of regulations. This time around the speed of an accommodating regulatory environment to promote rather than to stifle the greatest innovation since the Internet could be the greatest competitive edge among nations. Bitcoin as a digital currency coupled with the immense power of the Blockchain is the solution to many global problems confronting mankind today. There may not be another global opportunity of this magnitude a single nation can exploit to gain an enormous advantage.

DNotes is the only digital currency created from ground up to be the global currency for all; rich or poor. Its foundation is built upon trust and integrity with a mission to promote the best in mankind. It is far more rewarding, beneficial, and productive to be of help to others while helping ourselves. We respectfully await the participation of the most fortunate 2% to join force with us one day as we continue to make a difference in giving the less fortunate a chance to strive for a better financial future.

Thanks, RJF. This is an exceptional post. There is nothing else I need to add. I encourage everyone to read carefully. Print it, circulate it and hang one up as your refrigerator bill board.

Excellent conclusion and recommendations. Maintaining a presence on Reddit will be helpful if a meaningful number of DNotes supporters are interested to help support it.

DNotes Bitcointalk forum is like a book we have all co-authored. If all other forums are also characterized as books; DNotes will be the best seller among 500 others. We all are proud to be the co-authors.

Not that long ago, Bitcoin was worth significantly less than what DNotes is worth today. I would venture to say that DNotes is significantly better positioned, certainly more stable. Could DNotes ever attract that kind of big money one day? What do you think?



**********************
You'll Never Guess Who's Investing in Bitcoin
By Matthew Frankel | More Articles
May 3, 2015 | Comments (1)

Goldman Sachs (NYSE: GS  ) recently announced that it was partnering with a Chinese investment firm to lead a $50 million investment into Bitcoin start-up Circle Internet Financial. This deal represents the first large investment of its kind by a major bank, and it definitely could make a big difference in the Bitcoin space as well as the way we transfer money in our everyday lives. So what does Circle Internet Financial do, and why is it the first Bitcoin company to attract an investment from a major bank?  …………………………….

………..Bitcoin's future could be bright indeed
Bitcoin has attracted a significant amount of negative attention over the past few years, because of its reputation as a black-market currency, the collapse of a massive bitcoin exchange, and the extreme price fluctuations that saw the value of a Bitcoin rise from less than a penny in early 2010 to $1,200 by the end of 2013 and back down to about $225, where it currently sits.

Read more:

http://www.fool.com/investing/general/2015/05/03/youll-never-guess-who-is-investing-in-bitcoin.aspx

The core mission of CRISP For Charity is indeed to engage the top 2% to work with DNotes and International charity organizations to help alleviate various global problems including poverty and the 2.5 billion unbanked.

CRISP For Students will be positioned as a conduit to scholarship funds, grants and other student aids.

It is delightful and encouraging that Bill and Melinda Gates have specifically mentioned these two areas. I am very passionate about pursuing every possible avenue for DNotes to be a global digital currency with a purpose so that much good can be done for humanity.

This is one of the better articles regarding Compliance and why DNotes is proceeding with an abundance of caution.  All of our CRISP programs are positioned for massive global expansion. We are very mindful that if CRISP is set up for people to acquire DNotes as easily as ordering an ebook online, our entire family of CRISP will become enormously popular over night. That day will come, once we have our registered and fully licensed exchange or a partner exchange. These are among many different projects I am working on. The following article should shed some light as to why we need to take regulatory requirements seriously, whether we like it or not. I have a lot of respect for Coinbase and feel that the have been doing a great job.


Quote:
“Protecting users
Hody made it clear that the purpose of regulation in the digital currency industry is about protecting consumers, restricting money laundering and making sure taxes are properly collected”.

At the federal level FinCEN role is to track down and prevent money laundering.
At the state level, regulators are committed to consumer protection.
Obviously, IRS is interested in collecting any taxes.

Enjoy your reading.


******************************************

Coindesk:
Daniel Cawrey (@danielcawrey) | Published on May 2, 2015 at 12:00 BST


One of the largest players in bitcoin has warned fledging startups to remain vigilant on regulatory compliance issues. 

Coinbase's associate counsel Sarah Hody urged entrepreneurs to follow the firm's "proactive" stance in front of a packed audience at bitcoin developer meetup in San Francisco’s South of Market district.

Hody, who worked at several different law firms prior to joining the cryptocurrency space, noted that a number of other sectors, including food services and the automotive industry, have regulatory bodies that ensure consumer protection

It is becoming more apparent that bitcoin will someday be in the same category as other industries that must heed compliance in the US, said Hody, adding: "Federal agencies have expressed interest."

Because bitcoin is a protocol, a payment network and a digital currency – often simultaneously –it may attract the interest of various different regulators, she said.

Complexity requires compliance
As Coinbase has grown, adding more services for its user base has meant an increase in regulatory compliance for the company.

This was especially true when Coinbase launched its US bitcoin exchange; the company had to begin not only holding bitcoin but also US dollars. Keeping US dollars in Coinbase’s wallet was a service it launched months prior to the exchange – likely a precursor to its launch.

Adding features such as US dollar holdings – as well as GBP and the euro just recently – makes Coinbase much more intricately structured in terms of how regulators look at the company’s operations.

Coinbase, according to Hody, is a cautionary tale in how bitcoin startups will have to face ever-more complicated rules as they expand.

She said:
"Inherent in having an exchange means having both dollars and bitcoin for users. Coinbase is handling all the dollars and bitcoin in the background."

Federal and state level
Hody listed in her presentation a number of federal level agencies that have talked about jurisdiction over bitcoin.

This included the Security and Exchanges Commission (SEC) the Commodities Futures Trading Commission (CFTC) and the Internal Revenue Service (IRS), among others. What might be most confusing for bitcoin startups, however, is the fact that regulators on both the federal and state level require often overlapping compliance standards.

FinCEN, the Financial Crimes Enforcement Network, was used as an example.
Hody pointed out that FinCEN information already gets passed down to over 350 law enforcement agencies, many at the state level.


Despite what may seem like byzatine rules, Hody advocated that startups intensely evaluate their business models and open up relationships with regulators.
"It’s always time to ask: why might a regulator want to regulate your project?"

Protecting users
Hody made it clear that the purpose of regulation in the digital currency industry is about protecting consumers, restricting money laundering and making sure taxes are properly collected.

Because these are issues regulators are concerned about, Coinbase keeps records about customers, and must ensure that developers using its API are operating in a legal manner.

The company also keeps a list of activities users of its services are prohibited from participating in, and maintains a watchful eye on its platform.

Hody said:
"We have to keep records in compliance with the Bank Secrecy Act. The less you do with our system, the less we need to know about you."

Source:
http://www.coindesk.com/be-vigilant-on-compliance-coinbase-warns-bitcoin-startups/

I agree. Mochilles is absolutly correct. We have missed out on a very valuable medium to reach out to our industry. I strongly encourage our community to support this efforts. However, I have to add that DNotes Bitcointalk forum is invaluable. We have won over a lot of supporters on account of that. Furthermore, what DNotes has accomplished is historic; creating a productive culture in a chaotic and destructive environment where trust and respect has be lacking.

I have been building a solid network and have been actively in communication with many people in our industry everyday. The compliments and respect I have been getting is simply amazing, frankly humbling. DNotes is beginning to be recognized as the rising star in our industry. A lot of great things will start happening in the not so distance future. I like to see that we are solidly positioned before pursuing a rapid growth path, starting next year. Again reddit presence is very important. Please do your best to participate.

DNotes is very specifically designed for the masses; for everyone, from the unborn to the very senior, from the poor to the super rich. If money is for everyone, then DNotes is for everyone. This could take a generation or two. But unless we understand the very long term vision of DNotes, is difficult to understand why DNotes is positioned so differently. DNotes is not another "me to" hoping to make it big if we should be lucky. It is created and launched as "The Digital Currency of The Future With Lasting Value" That apparently is DNotes's core mission. But, what does it mean and what would it take?

DNotes was founded with the vision that the Bitcoin and the Blockchain technology is the greatest technology revolution of mankind. It is, but most people have yet to understand or refused to examine and study it objectively. That is always the case with any new technology. What may be significantly different, this time around, is the real threat of immense disruptive consequences confronting the power base that has ruled the world for generations. They are the central banks and financial institutions. Their self interest is being threatened. Consequently, pushing back and deliberate attempts to slow down the inevitable are natural and predictable. Unfortunately, our counter measures as an industry, whether planned or just happened spontaneously, have been ineffective and on occasions, damaging, resulting in a lot of pain and suffering. We have seen a lot of that coming. That is another reason why DNotes had decided to take a different path. I wish I can tell you "why" by using a brief "elevator pitch". If you seriously like to know, start reading from page one of this forum. This book is free, historic and very educational. Yet untitled, but could be called "Succeeding in the most Chaotic Trustless Industry with Trust"

Thanks, Rocky. Great job. At least now others will know for sure that CryptoMoms has strong and capable women support behind it.

I am really proud that we have such a great team always ready to take on the next project with our best efforts.

Outstanding!!! One of the best articles ever published in our industry. Excellent job, Rocky!

Just drop in to say hello. I will be gone all day meeting with different groups.

It is extremely important that we remember, DNotes is not yet the solution to the financial problems and challenges confronting so many nations and their citizens. We are working very hard to position DNotes as a viable alternative to help alleviate their hardship in a meaning way. "Our pursuit of the noble mission must always be built upon trust and integrity, genuinely appealing to the poor or the rich and not just the privileged few.

We are building a global medium of exchange and a dependable store of value that shall not perish at the mercy of a few individuals, institutions or nations. As long as we remained truthful to our commitments, without yielding to the inherent greed of mankind, DNotes will be the Digital Currency of the Future With Lasting Value".

Alan Yong
April 29, 2015

This is a quick post to give you an idea how the future of Wall Street finance may look like. It is perfectly reasonable to assume that a few of you in the future could pool a potion of your DNotes to offer such an exchange traded fund. Paying a premium of 48% over market ($1, 750,000 for 5,000 Bitcoin at $350 verse $ 1,130,000 for 5000 Bitcoin at $226) may sound insane. But that is how Wall Street works. Very often it is just as speculative as the crypto space. As long as you believe that some one else will buy it from you at a high price than what you paid for, it is a good trade.



Crypto Currency News:
 Joel Dalais
 
 29/04/2015


GBTC is the listed stock for the Bitcoin Investment Trust (BIT) that many people in and outside the bitcoin sector have been eagerly waiting for. The other day it was brought to the attention of r/bitcoin that bids for GBTC shares are starting to get a little bit more serious.

GBTC shares trade at the value of 1 GBTC share equals approximately 0.1 bitcoin, with a minimum bid of 100 shares, making the minimum bid possible ten bitcoins.

Maxim Group LLC (MAXM), an Investment Banking, Securities and Wealth Management business, had put down a bid for 50,000 GBTC shares at the value of $35 per share. This bid equates to a buy order of 5,000 bitcoins at the value of $350, for those who are more familiar with digital currency exchange terminology.

At the time of writing this article, the average bitcoin value is $226. The bid has brought people forward with questions of why such an offer so clearly over the average value would be made.
It could be for a variety of reasons
o   That it is easier for these investment style businesses to move money in the stock markets. The last year and a half might lead some to distrust bitcoin exchanges.
o   The last year and a half might lead some to distrust bitcoin exchanges.
o   They do not need to worry about bitcoin security as they are only holding shares.
o   There is no concern for maintenance of security.
To date there have been no sell bids placed, the speculation is that things are still being processed to allow current holders of GBTC shares to be able to sell their shares. Until then, buy orders might appear and disappear.


The bid has been removed as of today, but this does tell us that there are bids in the millions ready to be placed. And considering the relative size of the liquidity in various exchanges, an initial buy of millions in the first days of GBTC trading could be the proverbial snowball that starts the avalanche.
However, this is assuming that GBTC trading does occur within the near future. Information as to when trading will commence always seems to be “within two weeks”.

CCN
GBTC Bitcoin Investment Trust
Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables investors to gain exposure to the price movement of bitcoin without the challenge of buying, storing, and safekeeping bitcoins. The BIT’s sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.

Each BIT share represented ownership of 0.1 bitcoins initially. The trust will not generate any income and regularly sells/distributes bitcoins to pay for its ongoing expenses. Therefore, the amount of bitcoin represented by each share gradually declines over time.
Updated: April 29, 2015 at 3:38 pm CET

https://www.cryptocoinsnews.com/buy-orders-millions-bitcoin-investment-trust-gbtc/