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Pretty good action over at Cryptsy, 15 BTC volume.
Although I have not been on lately, I have been watching Cryptsy and yes pretty good action as you stated. DNotes has been doing very good lately. Perhaps it will continue moving in the right direction as people continue to read about and continue their education on what DNotes offers. Keep up the good work to all who are working to make DNotes a continuing success.
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Just noticed this on Poloniex.
"ALERT: Poloniex will no longer be allowed to provide services to residents of the State of New York starting on August 8th, 2015. If you are a resident of New York, please take appropriate measures to withdraw your funds by this date. "
Yes I just read that myself. Bitlicense for State of New York. Must have them withdrawn by 11:59 on August 7th.
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Little disappointed that DNotes was not mentioned and actually explained... especially the CRISP programs and the vault. Guess there was not enough time for 4 people to explain indepth about all aspects of what they are doing.
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I'm looking very forward to hearing how the event went!
It is excellent news that Canada has decided to use a hands off approach with Digital Currency. I also saw that they cheekily hired a company to put their decision announcement through the blockchain - "nearly hands off".
I too am excited to see how the NASDAQ Silicon Dragon Event went. I am hoping much great news and ideas will be shared out of this event.
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Best of luck DYNA,
I really hope the NASDAQ talk will have a video posted online, what a huge opportunity to be able to talk at NASDAQ! Alan has many years of experience with these types of things so its no wonder they chose him to speak on behalf of DNotes and the rest of the crypto industry.
I personally see no long-term alternative but for Greece to leave the Euro-zone. Currently their export industries are taking a beating, and Greece's local currency is far higher in value than where a floating national currency would sit. Having their own currency would allow their currency to devalue. The main problem I can see with them leaving the Euro though, is that the general public are not stupid. There will be massive bank runs the moment Greece announces that they will adopt a new local currency. People will have little faith that the new currency will hold much value, and they also know that the Greek government would hope this new currency would be worth much less than the Euro currently is to help exports / balance of trade deficits (1.5 billion monthly). Greek citizens would simply empty their Greek bank accounts, and send the money to another Euro bank based in another country to protect the value of their bank deposits until the new currency is implemented and its value settled. If everybody does this... then Greece simply won't leave the Euro.
Enter Digital Currency / DNotes? In a couple years, it may be a serious alternative to be the pressure valve necessary where Greeks could hold some of their wealth in DNotes, which could be spent anywhere in Europe, or worldwide. I'm having a good think about what would likely happen in a scenario where 5% of the European economy was crypto, and the particular effects it would have on Greece. I may need to return to the topic after my last exam is over for the semester this Friday (Have still been reading away - some very substantial content posted about regulations. Well done!).
Greede: Welcome! DNotes has worked out as a great investment! DNotes is the only crypto I've owned where I don't feel like I need to check its value daily. DNotes is going places, just look at all the rich news content in mainstream media DNotes has been getting! There remain many opportunities for anybody, no matter who they are, to come and join the community, or take a chance to improve their financial future, and the worlds through adoption.
Good to see you TeeGee. As always, great post. I trust that it will go very well tomorrow. The mainstream media has certainly been informed of the event. It will be nice if they show up with a camera crew. We are all rooting for you at the NASDAQ presentation tomorrow. Safe travels and knock em dead, break a leg, may the force be with you and all that other good stuff!
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For anyone who is new to DNotes or hasn't been following the forum lately, DNotes is the only digital currency at Silicon Dragon NY 2015. Way to go Alan and DNotes!!! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Silicon Dragon NY 2015 Nasdaq MarketSite 4 Times Square Monday at 17:30 (EDT) Silicon Dragon NY 2015: GLOBAL INNOVATION REVOLUTION - LED BY THE WORLD'S LEADING TECH TITANS, CHINA & THE U.S. (+ India, Israel)DEALMAKER PANEL Jim Robinson, Co-founder/Managing Partner, RRE Ventures Pat Kenealy, Managing Director, IDG Ventures USA Alessandro Piol, Partner & Co-founder, Alphaprime Ventures Annemarie Tierney, VP, Strategy & New Markets, NASDAQ Private Market Claudia Iannazzo, Partner, Pereg Ventures Moderator: Rebecca Fannin, Silicon Dragon / Forbes INNOVATION SPOTLIGHT: Digital CurrenciesFrancesco Rulli, Founder, BitLanders & BitCharities Sarah Martin, VP, Digital Currency Council Alan Yong, Founder, DNotesModerator: Porter Bibb, Managing Partner, MediaTech Capital Partners TECH CHATS Mark Hookey, CEO, DemystData Ronald Li, Founder, Novoheart Ding Ding, Founder, SayWhat HIGHLIGHT Mobile photos of Beijing every day life taken through the lens of China tech guru Frank Yu MODERATORS: Christine Lu, Founder, 8x8; Bill Holstein, Business Journalist and Author And again congrats to the team at DNotes, without everyone putting in thoughts and energy to this we would not be where we are now... and that is with Alan presenting here. So very proud of everyone who contributes here no matter how large or small every bit of chatter makes one think about the future.
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From CryptoMoms Forum: Quote from: Ashley on Today at 01:23:39 AM This is pretty good, it's what the writer thinks might trigger mainstream adoption. "Cryptocurrency: This Is How Digital Money Will Challenge the Global Economic Order" https://www.linkedin.com/pulse/cryptocurrency-how-digital-money-challenge-global-economic-casey?trk=hp-feed-article-title*********************************** Quote From Shepherd: “ Imagine how much wider the use of cryptocurrency would be if a major retailer such as Walmart switched to a blockchain- based payment network in order to cut tens of billions of dollars in transaction costs off the $350 billion it sends annually to tens of thousands of suppliers worldwide. ………….
If Mexico became the first crypto-focused government, it could turn itself into a crypto-tech hub, encouraging governments of the many other developing nations that it trades with to follow.” These are exciting possibilities but, in my humble opinion, highly unlikely to happen. A rapid large scale adoption is very risky and massively destructive. Could Walmart quietly acquire $1 billion worth of Bitcoin just to fill the cash requirement pipeline without causing rampant volatilities? Not likely. It could be a logistic nightmare. However, over the longer term of 5 to 10 years, mass acceptance of digital currency is inevitable, provided that there is a stable trustworthy digital currency. That digital currency may not be Bitcoin. DNotes firmly believes that it is possible to systematically create a digital currency from the ground up that is superior to fiat currency in meeting the full functions of money as a unit of account, a medium of exchange and a store of value. To be superior as the global digital currency, it must be a stable trustworthy digital currency available for everyone irrespective of financial standings. It must start with a solid foundation with a gradual acceptance at the grass-root level. Read More: ‘DNotes Will Be Known as the Currency with a Purpose’ http://cointelegraph.com/news/114557/dnotes-will-be-known-as-the-currency-with-a-purposeMost generally the first horse out of the gate is not the winner. The winner is the, steady as she goes horse, who is about mid-pack.
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That to me looks like a busy place with bright lights shining, just like you will be shining when you present!
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Way to go Alan! Nice job on that, says it all... Fantastic interview. Hit on great points along the way on this indepth interview.
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This is coming up quick. I know Alan has done a lot of research and is preparing to give an excellent presentation. Go Alan Go! We are all backing you whether you know it or not.
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Here's an interesting news article: Are Bitcoin Startups Bound to Crush the Banks?Bitcoin Startups are getting into every sector of the financial business, and the banks know it. Online businesses have been threatening the banks, and now a massive wave of Bitcoin startups are innovating the financial sector up to the point that banks needed to act. Personal-finance startups are helping consumers balance their checkbooks online. Refinancing startups are taking advantage of cheap debt to offer students better rates on loans; on the other hand, all these new startups are introducing an innovative and more simplistic approach for the financial business industry. All of it is taking a lot of the business away from banks. The biggest firms on Wall Street have been employing all sorts of tactics to defend their top line from invasions coming from new technologies such as Bitcoin. But now we are seeing a new turning point. Many big banks are now investing in startups. Increasingly, seed-stage ventures and accelerators have been formed as Wall Street firms snap up a piece of hundreds of pre-IPO companies. Wells Fargo has backed a handful of startups through its accelerator. One has the potential to help big banks get slimmer on staffing. Kasisto is a platform for financial institutions providing clients virtual personal assistants. And Bank of America has sponsored tech accelerators in New York, London, and Charlotte. Sometimes banks wind up jointly investing in the same startup, like Motif Investing, an online broker. Both JP Morgan and Goldman Sachs backed that platform. JP Morgan also backed Square, along with numerous big banks’ investment arms. And even Morgan Stanley, which has had a relatively muted presence in the investing scene, has struck deals to back companies like messaging platform Perzo and Eris Exchange. Goldman Sachs also backed Square, along with other big startups. Other deals for the bank have included Kensho, a market data analytics firm. Goldman is even backing Bitcoin startups. It seems that Banks are now looking towards earlier stage investments and opportunities; they cannot risk being left behind. Technologies such as Bitcoin are seen has innovations that can bring up a lot of potential to the financial industry and this time, the Bitcoin Industry and the Blockchain technology has finally caught their interest.http://www.newsbtc.com/2015/06/12/are-bitcoin-startups-bound-to-crush-the-banks/It is a very interesting article Chase. Financial institutions should absolutely get involved in digital currency. It only makes sense. Personally I hope the banks are shaking in their boots. They as a whole have done a lot to damage the economy while raking in the dough. However, I am skeptical and perhaps think as an industry will try their best to muddy the waters and to somehow try to make a killing off of digital currency. They have been bailed out in the "too big to fail" before while continuing to pay top dollar to executives. Again, as a small business if there is not enough money to go around guess who does not get paid? I will give you one hint, it is not my employees! I certainly hope they can bring something to the table if they are headed towards getting into digital currency and I hope that something turns out to be positive for EVERYONE!
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This is interesting, both of these banks are active in New Zealand, and one of my friends is quite senior at ANZ. It appears to be the case that banks are taking the first baby steps to adopting blockchain technology, but without fully embracing an actual currency.
Australian Banks Westpac and ANZ Experiment With Ripple
Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.
The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) – another 'big four' rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as "the way of the future".
While ANZ is still in early discussions with the company, Westpac, the larger of the two by market cap, told TAFR it has begun a proof-of-concept with Ripple Labs, whereby its employees are sending funds to two countries overseas.
Rachel Slade, Westpac's general manager of global transactional services, said:
"The solution we've developed is faster than other alternatives in the market today, providing same or next-day payment. This technology could be very beneficial to all Australians, providing a low-cost and fast method of sending low-value payments overseas."
Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future, citing regulatory uncertainty. "The banking of cryptocurrency is technically feasible, though we don't have that capability today," the ANZ spokesperson said.
Reading this raises one very large question, why would banks even consider looking into the blockchain technology? Why would they spend time on this? It would seem to me they would not want this to pan out as a reliable way to transfer money being they will not make money off of it like they do now. Any thoughts as to why they would be looking into this and spending time on this?
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"Obviously, MasterCard has been trying to exploit this tendency, taking advantage of the uninformed and misinformed public at large, including political leaders and regulators world wide."
It certainly seems that way.
There is too much to cover in that article that is inaccurate or misleading.
"speed and safety of digital currencies [do] not hold up, not least given that on average it takes 10 minutes for a block to be verified" - So in an hour on average the transaction is completely verified, instead of 24-48 'business' hours like my mastercard? Either way you get instant notification, but verification of transaction, bitcoin wins by a long shot.
"digital currencies are far more susceptible to hacking attacks" - I wonder how one could substantiate that claim? Several times in my life my account (mastercard) had someone withdrawing money from across seas. This also means they hacked have my personal information as well. Yet my bitcoins are still safe and sound since I started.
"To achieve economies of scale, the higher marginal costs of digital currencies will lead to a reduction in the number of miners down to a monopoly miner, defeating the original design of digital currencies and opening them up to system-wide fraud." - It is a competitive industry just like any other. I don't know what possible evidence you could have to substantiate this. Hundreds of thousands of miners are just going to give up?
"The "current blockchain process" doesn’t provide sufficient transparency" - From where I am sitting it is a lot more transparent than the credit card networks. If you ever plan to purchase anything with your bitcoin, it is basically 100% transparent.
"Finally, MasterCard believes the government should develop consumer protections which would force digital currency companies to create a formal consumer complaint process and enable the reversal of unauthorised charges." - Government consumer protections are fine, providing they are logical and don't inhibit progress. I like the use of the word reversal, like they can reverse CC transactions... lol. All they do is add a new transaction for the exact same amount back to the sender.
And all the time the credit card companies are still smiling because they have earned their fees along the way. Someone returns something guess what... the credit card company does not return your fees, shoot even paypal charges you to reverse a transaction, ok well they don't "CHARGE" you they just simply do not return all the fees to you. So not only did they "charge" me for the initial transaction they also "charge" for the return by not giving all your money back. I would say that is a little bit of double dipping there!! Just like Ebay, you charge for shipping and they charge you a fee on that now where it used to be only the item amount that you only were charged for. Gee thanks, I do not gouge for shipping but for some reason they believe now that I need to pay them for covering my shipping cost. Oh now you have gotten me started.... LOL
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The following article is worth reading and here are my comments: I am a supporter of Bitcoin and a strong believer that what is good for Bitcoin is good for our industry. Unfortunately, being the pioneer, Bitcoin has certain challenges it may never be able to overcome. Mass acceptance of Bitcoin as a currency is extremely remote but the innovative Blockchain technology will lead to massive new business formation and the new engine of huge job growth and wealth creation. Without strong leadership and an entity or individual with sufficient self-interest to promote and protect Bitcoin as a currency, it will remain as a speculative trading vehicle and not likely to gain much traction as a medium of exchange to exploit the low transaction cost. The growing excitement today is not on Bitcoin as the currency to replace or supplement fiat currency but the power and potential of the Blockchain technology. ************************************* Bitcoin: In Search Of Purpose http://www.forbes.com/sites/jasonbloomberg/2015/06/05/bitcoin-in-search-of-purpose/Jason Bloomberg Contributor The article itself... One line from that article that really resonated with me was the part where they talked about how merchants are happy to accept Bitcoin because it cuts down on their costs but that customers are not too excited about paying in Bitcoin. Here's the direct quote that expresses a huge reason why I don't pay for much with Bitcoin: Furthermore, the commission for purchasing Bitcoin (or the spread, in the context of speculation) ranges from five to ten percent – even more than what merchants pay for their credit card support. Why would consumers ever agree to take on this expense if merchants are only too happy to bear such transaction costs today?Paying for something in Bitcoin makes sense if you happen to have Bitcoin sitting around. But it doesn't make sense to trade fiat for Bitcoin just to pay for something with Bitcoin that you could just as easily pay for with fiat--and he's absolutely right about the credit card costs not being the customer's problem, at least not in a way the customer can easily see. The only reason someone might trade fiat into Bitcoin to pay for something with Bitcoin is if that "something" cannot be bought with fiat. When you think about "somethings" that can't be bought with fiat, the first thing that comes to mind are illegal "somethings." Perhaps that is why such a disproportionate amount of Bitcoin commerce is of the illegal variety. But that would change if it actually saved the customers money to pay with Bitcoin (without it being a complicated process). Since DNotes is a much more stable currency than Bitcoin, it's more realistic to expect that at some point down the road customers may even prefer to pay in DNotes. As a merchant accepting credit cards I get really tired of paying the credit card companies anywhere from $800 up to $3500 a month!! When I see that automatically deducted from my account each month it simply drives me more to educate others about digital currency. And yes merchants get it because they see those fees having to be paid for each month and I am one of those thousands and thousands of small businesses out there that pay these credit card institutions each and every month. They are raking in millions at the expense of small business. Millions of small business owners struggle to meet payroll, which comes before making any contribution to their retirement accounts. There is another real cost burden. Most small business owners pay a very high price in credit card interest of 27% to 29%. It may sound shocking but many small business owners max out every credit card they have available with six figures or higher unpaid balance. Which in turn means the credit card companies are laughing at small business all the way to the bank month after month after month. Just imagine if small businesses had the ablility to put that money back in their businesses or to afford whatever they needed to grow their businesses including hiring and raises what a difference that would make. As a society we have been force-fed the "buy on credit" garbage, and believe me I have been at the trough a bunch myself. Financial institutions are the ones fueling this fire and we as a society need to put a whole ton of water on it. Digital currency is the tool we need to stamp out this injustice that we all have been fed. Media has helped fuel the credit card industry, just look at all the commercials you see for credit cards, digital currency at some point has to get on the bandwagon as well and get itself promoted. Daughter was in Indianapolis over the weekend and low and behold there was a sign in front of a shopping mall that read "Bitcoin Accepted Here". She went as far as to take a picture and send it to me.
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The following article is worth reading and here are my comments: I am a supporter of Bitcoin and a strong believer that what is good for Bitcoin is good for our industry. Unfortunately, being the pioneer, Bitcoin has certain challenges it may never be able to overcome. Mass acceptance of Bitcoin as a currency is extremely remote but the innovative Blockchain technology will lead to massive new business formation and the new engine of huge job growth and wealth creation. Without strong leadership and an entity or individual with sufficient self-interest to promote and protect Bitcoin as a currency, it will remain as a speculative trading vehicle and not likely to gain much traction as a medium of exchange to exploit the low transaction cost. The growing excitement today is not on Bitcoin as the currency to replace or supplement fiat currency but the power and potential of the Blockchain technology. ************************************* Bitcoin: In Search Of Purpose http://www.forbes.com/sites/jasonbloomberg/2015/06/05/bitcoin-in-search-of-purpose/Jason Bloomberg Contributor The article itself... One line from that article that really resonated with me was the part where they talked about how merchants are happy to accept Bitcoin because it cuts down on their costs but that customers are not too excited about paying in Bitcoin. Here's the direct quote that expresses a huge reason why I don't pay for much with Bitcoin: Furthermore, the commission for purchasing Bitcoin (or the spread, in the context of speculation) ranges from five to ten percent – even more than what merchants pay for their credit card support. Why would consumers ever agree to take on this expense if merchants are only too happy to bear such transaction costs today?Paying for something in Bitcoin makes sense if you happen to have Bitcoin sitting around. But it doesn't make sense to trade fiat for Bitcoin just to pay for something with Bitcoin that you could just as easily pay for with fiat--and he's absolutely right about the credit card costs not being the customer's problem, at least not in a way the customer can easily see. The only reason someone might trade fiat into Bitcoin to pay for something with Bitcoin is if that "something" cannot be bought with fiat. When you think about "somethings" that can't be bought with fiat, the first thing that comes to mind are illegal "somethings." Perhaps that is why such a disproportionate amount of Bitcoin commerce is of the illegal variety. But that would change if it actually saved the customers money to pay with Bitcoin (without it being a complicated process). Since DNotes is a much more stable currency than Bitcoin, it's more realistic to expect that at some point down the road customers may even prefer to pay in DNotes. As a merchant accepting credit cards I get really tired of paying the credit card companies anywhere from $800 up to $3500 a month!! When I see that automatically deducted from my account each month it simply drives me more to educate others about digital currency. And yes merchants get it because they see those fees having to be paid for each month and I am one of those thousands and thousands of small businesses out there that pay these credit card institutions each and every month. They are raking in millions at the expense of small business.
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More details have been released concerning the Silicone Dragon NY 2015. I will be speaking on a panel at this event. Please check out the following link: http://www.silicondragonventures.com/events/events-2015/silicon-dragon-ny-2015/INNOVATION SPOTLIGHT: DIGITAL CURRENCIES Francesco Rulli, Founder, BitLanders & BitCharities Sarah Martin, VP, Digital Currency Council Alan Yong, Founder, DNotes Moderator: Porter Bibb, Managing Partner, MediaTech Capital This is likely to be their biggest event and DNotes is the digital currency being highlighted. Wall Street is hot on Bitcoin but also have doubts about Bitcoin gaining mass acceptance. Even though our budget is getting tight, we may decide to have a press release the week of June 15, 2915. Coming up with the right headline and developing the most appropriate content is a little challenging based on what I like to see, especially when I no longer have a long stretch of time when I can just focus in writing a persuasive and compelling article. Furthermore, we simply have too much to cover in one article. It’s amazing how much DNotes and its community have accomplished in just over a year. We can certainly use your help comment and add to the PR based on my suggested out line below. For some prospective and reference, please Check out "Bitcoin In Search Of Purpose”: http://www.forbes.com/sites/jasonbloomberg/2015/06/05/bitcoin-in-search-of-purpose/A great press release will need to have an attention grabbing headline covering the following points: 1. Is the industry giving up on the "trustless" Bitcoin to ever gain mass acceptance? Everyone rushing to Blockchain. 2. Bitcoin may never fully recover from countless negative headlines and settled with limited purpose; as a speculative trading vehicle, failing to ever meet the full function of money and gain mass acceptance. It is too costly to acquire, too volatile as a store of value and medium of exchange and stakeholders limited to certain groups. In contrast; DNotes 3. DNotes is the second generation Bitcoin alternative digital currency taking full advantage of the pioneer's innovation while avoiding their pitfalls, while creating a culture of mutual respect and co-operation for mutual benefits. 4. Branding: stability, trust, reliable long-term appreciation, currency value in line with fundamental value - no pump and dump. 5. Mass inclusion for mass acceptance: Must include women - CryptoMoms; For everyone - unborn and most senior, rich or poor. Family of CRISPs. 6. Currency with a purpose - global initiatives to help solve global problems; the unbanked and cross border currency remittance. Long term initiatives to grow next generation of leaders to solve global problems. 7. Own ecosystem with highly scaleable buildings block to expand rapidly on a global scale at the most opportune time. 8. Ease of use, secure and guarantee; DNotesVault 9. Conclusion: There should be little doubt that Bitcoin will be the greatest technology revolution in the history of mankind. Bitcoin as a currency is an integral part of the technology pack; powered by the Blockchain as the most innovative protocol of decentralized distributed consensus ledger. DNotes, designed from ground up with a purpose, as the stable trustworthy digital currency for everyone is destined to be the Digital Currency of The Future with Lasting Value. That is the currency with the highest potential for mass global acceptance. Pretty amazing. Did some research and Silicon Dragon appears to be popular in the tech, innovation, venture capital worlds. This could be the tipping point mentioned in TeeGee's post. Can't wait to see if it televised or published. With the amount of growing interest from Wall Street these days there should be some media coverage. It will be recorded and made available on Youtube. Could be a lot of fun. That will be a great press release and I am also looking forward to see what happens as a result of this type of media coverage. Very exciting!! It is amazing to me that media lags on some issues which will in turn affect the mass population. You hear snippits here and there about Bitcoin and not even that it is digital currency. Could it be that they do not understand it and therefore cannot or simply choose not to report on it? One would think that somewhere along the line media outlets and in particular national television would jump at the chance to be the "first" to get the news out and spread the word. Perhaps it takes to much research to make sure they do not misquote and be presumed fools for not covering the story of Bitcoin correctly. I have heard it mentioned a few times here and there but just mentioned not actually covered as a news story as to what it is and what it can do for the people of this world. Some day it will be mainstream.
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And, if anyone is interested in helping to stop the State of North Carolina from regulating digital currencies, or at the very least, show them they need to consider opinions other than those of the big money financial institutions, please go to http://bitcoinregs.org/ and sign the two letters going to the state legislature there. Please understand, I have no problem with regulation when it is actually fair and reasonable not one sided and crushing. The only voice we have in these debates, the only way to sway opinions without the financial bat of Wells Fargo, MasterCard, etc, is to speak up load and clear and make OUR opinion known. Remember, even if your not into Bitcoin itself, these regulations affect ALL coins and digital, crypto based offerings. What affects Bitcoin, affects us all. Fight the fair and honest battle, don't let big money run your life, tell 'em to give crypto a chance. All of this crypto-regulation leaves me feeling a little unsettled. It makes it very difficult for new challengers, and further entrenches exchanges and companies that are already established (Circle, Coinbase... ya know... places that have taken money from: the New York Stock Exchange, USAA Bank, BBVA and Goldman Sachs). As always, the founders of this team have solid plans, and they know the challenges these regulations may bring, and how they can be worked to DNotes advantage. TeeGee, you are correct the unintended (perhaps intended) consequences are to make things so expensive and difficult that only the big boys are left to play. We are watching this very closely and adjusting as we see appropriate. DNotes is well positioned, broad base, nimble and agile with highly scaleable building blocks. I am am already spending a lot of time in the "front line" . I love to be in the position to help shape the industry one day. We just have to work really hard to earn it first. These concerns are why staying the course with adjustments along the way will make DNotes a leader in the beginning and throughout. Regulations can be a challenge but with the right team, contacts and plan in place they can be managed. The curve balls which are thrown can be adjusted for!
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Part of the reason DNotes is different is we are building technology and platforms that are geared towards ease of use and easy to understand. As you can see in the article below, that is very different from the majority of our industry and people are recognizing the issue. We are continuously learning from customers of our existing platform, how to expand, how to make it more user friendly, and how to make it easier to understand. Please feel free help us in those efforts by providing feedback, any and all feedback is helpful. Bitcoin Usage Low Due To Disinterest From Consumers (Op-Ed)Earlier today, I had the chance to speak with several merchants accepting Bitcoin payments for a while now. My main concern was whether or Bitcoin is being used by customers on a regular basis, and if so, whether or not there were any noticeable trends occurring. I did learn one thing though, Bitcoin is fine in terms of supporting merchants but needs to convince everyday users to work with digital currency. [...] Source: http://insidebitcoins.com/news/bitcoin-usage-low-due-to-disinterest-from-consumers-op-ed/32840I've been in the Bitcoin community for over two years and I still don't use my Bitcoin to buy ordinary things. The main reason is that I'm still in trying to grow my Bitcoin stash mode. If I could go back in time knowing everything I know now and not make a lot of the mistakes I made it's possible I'd be sitting on a pretty nice stash of Bitcoin at the moment. Then I'd have a solid pool to use for spending money. It's not for lack of trying to grow my stash. But a few of the methods I tried turned out to be scams, hacked, or plain unsustainable. In all cases, the result was losing rather than growing Bitcoins. This means that today when I do get Bitcoin, I'm keeping it as Bitcoin and either using it to buy a different coin, or trying to earn some interest on it. My hope is that some day I will have a nice abundant stash of Bitcoin and be able to spend it. For now, though, I'm not going to spend it on ordinary stuff because it's easier to spend fiat. I'm certainly not going to convert my fiat into Bitcoin just so I can buy something with Bitcoin instead of fiat. Anytime you have to make an exchange, that introduces cost and risk. I now understand better one aspect of the DNotes strategy, which is to spend the first couple years focusing on encouraging and helping people to obtain DNotes, and then save them for some time a few years down the road. Since DNotes are cheap these days it's easy to buy them and that's not counting what the DNotes team gives away for free. A couple years down the road, if the DNotes I bought today have appreciated substantially in value, and I'm sitting on a nice stash of them, then when retailers start accepting DNotes, then I will be a lot more inclined to spend mine. I don't know for sure, but I believe the majority of the people who are regularly spending Bitcoin at retail stores are those who either heavily mined or bought back when Bitcoin was worth less than a dollar, and now get to spend it at over 200 times its initial value. That's what I'm hoping will happen to my DNotes stash. Buy them at two or three cents today; spend them at two or three dollars in a few years. Given that, I think the best strategy for DNotes is to try to turn as many people as possible into early adopters, encourage them to acquire DNotes while the price is low, then save them, and during that time, work very hard to build value and more value into it. If successful, in a few years you'll have all kinds of people buying and selling with it. It helps also to do what is possible to minimize the scam sites using DNotes. Those and the outright illegal ones. Speaking at NASDAQ events doesn't hurt either... Hey, DNotes people, You guys should really do all that. Oh, never mind. You've been doing this since day one ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) The challenge of gaining mass acceptance of Bitcoin and digital currency has been hugely underestimated. The process of change for the population at large is always very complex and often takes years or decades, even if there are compelling reasons to change. In the case of highly disruptive technologies, such as the Internet, and now digital currency and Blockchain technology, it is actually a good thing, giving affected parties plenty of time to adjust. Despite that, there will still be plenty of casualties, for a vast number of reasons. Certain industries will be displaced and many jobs will be lost. However, on balance there will be substantial net gain with massive job and wealth creation in other areas. Smart investors capable of identifying and investing for the long term, in the best positioned players, at the infancy of the technology revolution, often ended up being the biggest winners. Those are often the minority. Unfortunately, we all see and value things differently and no one can guarantee an out come that may happen at some point in the future. I can tell you, with a high degree of certainty, that digital currency will be used as a medium of exchange to supplement fiat currency in global commerce by 25% within the next 50 years (very broad range just for the sake of this argument), but I can not guarantee that it will happen sooner; such as 5, 10 or 15 years from now, as much as I believe that it will happen sooner than later. Although many may not see it that way, DNotes has, since day one, been mindful of the difficulties of mass consumer and mass merchant acceptance of digital currency as a medium of exchange. We firmly believe that it must start with a trusted stable digital currency and followed by broad base ownership of the currency with the necessary infrastructure to the extent that DNotes becomes a competitive edge as a medium of exchange. Hence, we created the DNotesVault and our family of CRISP, in an effort to build a large generation of stakeholders who are merchants and consumers, as wiser pointed out to a certain extent. I wish I have more time to elaborate. Indeed, I have articulated these points many time in earlier posts. Essentially, we are creating the pathway to mass consumer adoption of DNotes as a medium of exchange, giving us a much higher level of certainly that it will happen. We are not hoping that it could happen. We are executing a series of strategic plans to make it happen. Can you imagine back in the day when the paper money and coins were first introduced as a nationwide currency? There was no internet to educate people on the use of it. There were very few newspapers circulated in the wilderness to educate people, no television, no radio etc etc. I would believe that with technology these days that educating people on digital currency would be easier than any time in the past when the nationwide currencies were passed as the "new" currency. Your local currencies were no longer going to be used as method of payment for anything. Understanding the digital currency is just a matter of educating the public.. and I think and believe that is something that will catch on quickly once the consumers and businesses are educated about it. +1 Eventually, it will just be money people can spend and use. The average Joe doesn't know the inner workings of banks and bank security, they just know how to spend the money. Once we reach the point where people don't have to understand it completely in order to trust it, it will really take off. That is exactly what I am talking about. The banks issued way back when their own currency, then the feds came along and introduced a currency which was now universal. Everyone had the same currency in their pockets and this is no different. It is just getting consumers AND businesses on board. Once businesses realize how much it will save them more and more will begin to accept it. Somewhere along the line someone mentioned about how the country has been built and still runs on small business. That I believe is one key issue, getting small businesses, which are basically people who came up with an idea for a business but may not be business people and hung a shingle out for their business. When small talk around the cooler includes "hey did you hear about this currency that does not cost you nearly what you are being charged today to accept payment", begins and they realize they can put that money back in their business or their pocket and realize we are talking about a large amount of money, then things will take off. With the trust issue, when they realize it is more trustworthy than any other form of currency I think many will have that AH-HA moment.
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Part of the reason DNotes is different is we are building technology and platforms that are geared towards ease of use and easy to understand. As you can see in the article below, that is very different from the majority of our industry and people are recognizing the issue. We are continuously learning from customers of our existing platform, how to expand, how to make it more user friendly, and how to make it easier to understand. Please feel free help us in those efforts by providing feedback, any and all feedback is helpful. Bitcoin Usage Low Due To Disinterest From Consumers (Op-Ed)Earlier today, I had the chance to speak with several merchants accepting Bitcoin payments for a while now. My main concern was whether or Bitcoin is being used by customers on a regular basis, and if so, whether or not there were any noticeable trends occurring. I did learn one thing though, Bitcoin is fine in terms of supporting merchants but needs to convince everyday users to work with digital currency. [...] Source: http://insidebitcoins.com/news/bitcoin-usage-low-due-to-disinterest-from-consumers-op-ed/32840I've been in the Bitcoin community for over two years and I still don't use my Bitcoin to buy ordinary things. The main reason is that I'm still in trying to grow my Bitcoin stash mode. If I could go back in time knowing everything I know now and not make a lot of the mistakes I made it's possible I'd be sitting on a pretty nice stash of Bitcoin at the moment. Then I'd have a solid pool to use for spending money. It's not for lack of trying to grow my stash. But a few of the methods I tried turned out to be scams, hacked, or plain unsustainable. In all cases, the result was losing rather than growing Bitcoins. This means that today when I do get Bitcoin, I'm keeping it as Bitcoin and either using it to buy a different coin, or trying to earn some interest on it. My hope is that some day I will have a nice abundant stash of Bitcoin and be able to spend it. For now, though, I'm not going to spend it on ordinary stuff because it's easier to spend fiat. I'm certainly not going to convert my fiat into Bitcoin just so I can buy something with Bitcoin instead of fiat. Anytime you have to make an exchange, that introduces cost and risk. I now understand better one aspect of the DNotes strategy, which is to spend the first couple years focusing on encouraging and helping people to obtain DNotes, and then save them for some time a few years down the road. Since DNotes are cheap these days it's easy to buy them and that's not counting what the DNotes team gives away for free. A couple years down the road, if the DNotes I bought today have appreciated substantially in value, and I'm sitting on a nice stash of them, then when retailers start accepting DNotes, then I will be a lot more inclined to spend mine. I don't know for sure, but I believe the majority of the people who are regularly spending Bitcoin at retail stores are those who either heavily mined or bought back when Bitcoin was worth less than a dollar, and now get to spend it at over 200 times its initial value. That's what I'm hoping will happen to my DNotes stash. Buy them at two or three cents today; spend them at two or three dollars in a few years. Given that, I think the best strategy for DNotes is to try to turn as many people as possible into early adopters, encourage them to acquire DNotes while the price is low, then save them, and during that time, work very hard to build value and more value into it. If successful, in a few years you'll have all kinds of people buying and selling with it. It helps also to do what is possible to minimize the scam sites using DNotes. Those and the outright illegal ones. Speaking at NASDAQ events doesn't hurt either... Hey, DNotes people, You guys should really do all that. Oh, never mind. You've been doing this since day one ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) The challenge of gaining mass acceptance of Bitcoin and digital currency has been hugely underestimated. The process of change for the population at large is always very complex and often takes years or decades, even if there are compelling reasons to change. In the case of highly disruptive technologies, such as the Internet, and now digital currency and Blockchain technology, it is actually a good thing, giving affected parties plenty of time to adjust. Despite that, there will still be plenty of casualties, for a vast number of reasons. Certain industries will be displaced and many jobs will be lost. However, on balance there will be substantial net gain with massive job and wealth creation in other areas. Smart investors capable of identifying and investing for the long term, in the best positioned players, at the infancy of the technology revolution, often ended up being the biggest winners. Those are often the minority. Unfortunately, we all see and value things differently and no one can guarantee an out come that may happen at some point in the future. I can tell you, with a high degree of certainty, that digital currency will be used as a medium of exchange to supplement fiat currency in global commerce by 25% within the next 50 years (very broad range just for the sake of this argument), but I can not guarantee that it will happen sooner; such as 5, 10 or 15 years from now, as much as I believe that it will happen sooner than later. Although many may not see it that way, DNotes has, since day one, been mindful of the difficulties of mass consumer and mass merchant acceptance of digital currency as a medium of exchange. We firmly believe that it must start with a trusted stable digital currency and followed by broad base ownership of the currency with the necessary infrastructure to the extent that DNotes becomes a competitive edge as a medium of exchange. Hence, we created the DNotesVault and our family of CRISP, in an effort to build a large generation of stakeholders who are merchants and consumers, as wiser pointed out to a certain extent. I wish I have more time to elaborate. Indeed, I have articulated these points many time in earlier posts. Essentially, we are creating the pathway to mass consumer adoption of DNotes as a medium of exchange, giving us a much higher level of certainly that it will happen. We are not hoping that it could happen. We are executing a series of strategic plans to make it happen. Can you imagine back in the day when the paper money and coins were first introduced as a nationwide currency? There was no internet to educate people on the use of it. There were very few newspapers circulated in the wilderness to educate people, no television, no radio etc etc. I would believe that with technology these days that educating people on digital currency would be easier than any time in the past when the nationwide currencies were passed as the "new" currency. Your local currencies were no longer going to be used as method of payment for anything. Understanding the digital currency is just a matter of educating the public.. and I think and believe that is something that will catch on quickly once the consumers and businesses are educated about it.
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This is an interesting article on how the largest generation in the U.S. is going to affect the banking industry: The Millennial Generation: Banking’s Big Problem, and It’s a Good Thing The Millennial generation is proving to be a large force behind the transformation and disruption of the banking industry. Their distinct habits and preferences will be responsible for reshaping the global economy in the decades to come. Millennials are the largest generation in the U.S. and the fastest growing demographic in the world. Organizations and corporations worldwide are trying to figure out how to engage this generation whose brand relationships and patterns of consumption are distinctive from those of generations past. Young people think differently, consume differently and use traditional services differently. Companies who successfully unlock the keys to the habits of Millennials will reap major profits. The banking space has felt the effects of this more than any other industry to date. It is pretty safe to say that millennials hate traditional banking. The Millennial Disruption Index is a three-year study based on extensive interviews with over 10,000 respondents who answered questions about which industries were most likely to be disrupted in the coming decades. Key findings include: Millennials believe banking is at the highest risk of disruption out of all the industries in the survey. 53% think their banks offer nothing different from other banks. 71% would prefer to go to a dentist than listen to what banks are saying. 1 in 3 are open to switching banks in the next 90 days. Four leading banks — JP Morgan, Citibank, Bank of America and Wells Fargo — are among their least favorite brands. They also have big ideas on the future of money and finance: 68% believe accessing money will be different in five years. 70% believe paying for things will be different in five years. 33% believe banks aren’t needed at all. 50% believe startups will change the way banks works. 73% would be more excited about a new offering in financial services from Google, Apple, Amazon, Paypal and Square than a nationwide bank. It’s no wonder that banks may feel threatened and that the executives at these banks believe they could be facing increasing profit-margin pressure and outright disintermediation, as highlighted in a recent Accenture report. Demographics and CharacteristicsGoldman Sachs put out a report on the demographics and characteristics of the Millennials titled “Millennials Coming of Age.” Millennials were born between the years 1980 and 2000 and are considered the largest generation in American history at 92 million. For comparison, Generation X has 61 million and the Baby Boomers have 77 million. Goldman recognizes five defining characteristics of this generation:They are the first digital natives — the first generation that has grown up fully connected to smartphones and the Internet. They have use social media in a profound way and are completely “connected.” They have less money to spend. continue reading: http://cointelegraph.com/news/114348/the-millennial-generation-bankings-big-problem-and-its-a-good-thingThe findings are very telling. Banks and financial services must take the changing landscape very seriously and start building new partnership with no other than DNotes. We have made and will continue to make dedicated efforts to serve both the students and the women's market. These are two very dominant forces that cannot be ignored. DNotes is the only digital currency invited, and I will be a speaker addressing a prestigious group of investors and VCs at : Silicon Dragon NY 2015 Silicon Dragon NY 2015: Innovation Revolution June 22, 2015, 5:30pm – 9pm NASDAQ Market Site, 43rd / Broadway It's quite an honor. DNotes is getting discovered. Check it out: http://www.silicondragonventures.com/events/events-2015/silicon-dragon-ny-2015/DEALMAKER PANELJim Robinson, Co-founder/Managing Partner, RRE Ventures Pat Kenealy, Managing Director, IDG Ventures USA Alessandro Piol, Partner & Co-founder, Alphaprime Ventures Annemarie Tierney, VP, Head of Strategy and New Markets, NASDAQ Sandy Carter, General Manager, Worldwide Cloud Ecosystem, IBM Claudia Iannazzo, Partner, Pereg Ventures Moderator: Rebecca Fannin, Silicon Dragon / Forbes INNOVATION SPOTLIGHT: DIGITAL CURRENCIESFrancesco Rulli, Founder, BitLanders & BitCharities Sarah Martin, VP, Digital Currency Council Alan Yong, Founder, DNotesModerator: Porter Bibb, Managing Partner, MediaTech Capital Partners ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs10.postimg.org%2F62xpaj2d5%2Fsdevent.png&t=665&c=di6jaMwUItVMXQ) Great to see that Alan is on the list for the Innovation Spotlight for Digital Currencies. Great things are sure to come of this and I am so very happy and pleased with where DNotes is going! Congrats Alan to be invited to sit on this panel.
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