This goes way beyond being an Apple problem. It is an industry problem, with costly implications to all of us. Where is the outrage from our regulators?

Our current banking and payment network systems cannot conduct business without the collection, transmission, storage and verification of private information. Until this method of doing business is replaced the problem will continue.

The Bitcoin protocol and payment network is far superior. It has already solved the problem of the need for private information to effect transaction. For this very reason, we firmly believe that DNotes will be the digital currency of the future, because we are positioned to solve all the other structural problems, such as high volatility, store of value and mass acceptance of DNotes as a medium of exchange, currently associated with Bitcoin.  

Thanks, RJF. That is a good source, but could be depressing if I spend too much time on that site. There are too many issues and problems confronting the world we live in. My focus is to do the little I can helping DNotes to be the digital currency of the future which I strongly believe will solve many problems and provides some financial relief to many who believe in us with long term commitment.

Quote from Chase:

This would make great content for an industry press release.  People trusted the Apple brand without really understanding what they were getting.  Promising enhanced security and having the results 6000% worse than before you started isn't going to be easily forgotten.

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I just forwarded the post to our PR team for an opinion.

Thanks, Chase.

"Survival of the fittest"

We may not be the fittest yet, but we can compensate for any weakness by being a little wiser, better informed, more patience but agile and decisive in adapting to an unsettled environment.

Don't forget that Darwin also said this.

“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
― Charles Darwin

"Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again."

I like that, RJF. Thanks.

May be that is why "Grandpa" is spending so much time watching over you kids. LOL. I just don't like to see you guys get hurt. That is another reason to go slow and easy before we pick up speed and run.

In all fairness the reported Mt Gox, Mintpal and other problems of stolen Bitcoin are the results of bad business practices or outright insider theft.

Smokeys, you are correct that Apple Pay is only adding another layer of cost to an already costly oudated payment system. The justification for that extra cost was supposed to be an added layer of security which as it turned made it less secure. It is a fundamental structure problem of massive propotion. There are no viable acceptable solution except for the entire structure to be rebuilt or replaced.   

This is extremely important Breaking News.  Perhaps the Headline should be revised to Read: “Bad news for Apple Pay (and Credit Card Companies)”.

It may take years for enough people to understand, but there are radical differences in the production, accounting, storage, and transfer of digital currency as oppose to fiat currency. Essentially there are two very different systems with different philosophies in the creation, storage, book keeping, exchange of assets, and transfer of wealth. Many major business decisions and investments have been made without a sufficient understanding of the total package. Too many articles have been written and published with the wrong conclusions due to a lack of sufficient understanding of both systems. I can write a book on this, or include a chapter in a book if I only have enough hours left at the end the day.  

Let me briefly cover three vital differences between the two systems that are in play here. There are more, in fact many more, to the extent that I have no doubt that digital currency is far superior to fiat currency when we compare and contrast them in a complete and object manner. I am conclusive that digital currency is the future of money, in this digital age. Of course, there are problems, issues or weaknesses, including volatilities, liquidity, store of value and mass acceptance as a medium of exchange. DNotes will continue to resolve all those problems over time and at a minimum, DNotes will reach a level that is equal to or better than any other fiat currency within the next few years.

Fiat currency and its associated credit and debit card payment network systems are based on an absolute dependency on personal identity with multiple exposures that can be and have been compromised. With multiple intermediaries requiring proof of identity for the release of funds, loans and credit approval based of the “holder” of the required private information, this has been proven repeatedly to involve high risk exposures. In practical terms, your personal records are not so private because they are required to be exposed during the transaction, approval and data storage processes.

This has been and will continue to be a huge problem. There is no viable solution on top of a highly inefficient and costly banking and payment network system. Another major difference is that, whether you are going consider it as good or bad, they do keep their ledger and book keeping private. Furthermore, you don’t always need to have the funds already in your account to write a check and pay someone. The holder of your private information is the one granted the ability to add funds to your account (new loan and credit card) or pull funds from your account.

In brief, our current banking, credit and debit card payment network systems must have your private information to conduct business. However, they do keep your transactions private. You can also get away in writing a check to pay someone without money in your account.

By comparison, digital currency does not require or store any private information. It can only be pushed out, or spent by the holder of the private key to the digital wallet. If you don’t have the key to get inside the wallet, you can not “push” the funds out. In addition, you can not send more funds than what is available in the wallet. In this case, it is like the cash in your fiat currency wallet. You can not spend more in cash than you have. Furthermore, all of your transactions and balances are verified and confirmed, by a massive peer to peer computing network, based majority consensus to be legitimate and correct. Only then it is recorded and displayed in a public ledger for everyone to see and verify. Once confirmed, the transaction is not reversible.

This is a far superior system. Those who are yet to be convinced are either uninformed, misinformed, totally misled, or given up on the possibility that digital currency can be stable and a good store of value.

Bitcoin alternative DNotes has demonstrated that stability and good store of value are achievable as demonstrated throughout its existent since February 18, 2014. It is now taking the next major challenge to demonstrate that digital currency is a superior medium of exchange. Equipped with CryptoMoms, DNotesVault, and a whole family of savings plans for the consumers and small business owners, mass acceptance of DNotes as a store of value and a medium of exchange may be only a couple of years down the road. As obstacles of volatilities and store of value are put to rest, the doubt on the superiority of digital currency over fiat currency will become more compelling. Supportive mainstream media and regulators will go a long way in extracting the best of an immensely innovative technology with positive world changing implications.

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Dear DNotes supporters,

Please make an extra efforts to comment on this post. I am considering using the framework of this article for an industry press release. Thanks.

Sometimes we forget that we live in a capitalist world. Entrepreneur will invest their money in opportunities that could be profitable. As DNotes get better established, there will be many more who will invest in the DNotes ecosystem, just like the way others have invested in the Bitcoin ecosystem. Many things our community wished for today will happen when the time is right.

The main difference about DNotes is that we planned it as a business and managed it as a business from day one. Essentially we have been able to identify weaknesses and potential pitfalls in the system, as well as opportunities and incorporated a system in our strategic plans to overcome or avoid known problems while exploiting our strengths for the best opportunities. As it has already become apparent, we have taken the lead in establishing what we believe to be the most important part of the ecosystem, in order to position DNotes on the best path and grow it to become a dominant force. We call them strategic properties, including CryptoMoms, DNotesVault and our family of CRISPs. They are all strategically linked and will provide very healthy rate of growth in fundamental values to justify the increasing price of DNotes. Collectively, they will be the most effective means of securing mass acceptance of DNotes as a medium of exchange on a global scale. This is just the beginning. We prefer to start small and have a long way to go before pushing for large scale implementation.

There are legal exposures. We will take our time to do things right. There will come a time when others will come and knock on our door. It is always better to come from a position of strength. We just have to work a little harder if if want to get there faster. We will achieve our goals through hard work; not short cuts.

Trading Notes:

DNotes has been on an uptrend for more than a week now. It has exhibited more impressive strength than I anticipated. This confirms the fact, that when it comes to high risk investment, no body can be certain of the outcome. It is impossible to incorporate all the possibilities, both positive and negative. We all need to do our research and make our own decision. However, being a high risk investment with potential high returns, it is important to be reminded that one should only invest a small amount of the total available portfolio. Typically 10% is allocated for a basket of high risk/high return investments as part of a balanced asset allocation. This practice alone could be driving some professional investors to the DNotes’ camp. It can be argued that DNotes could be a preferred choice within that basket of high risk investment. I have certainly been reading the “tea leaves” with interest to see if there is an early indication of that. At this point, it is still too early to tell.

It has been an exciting and anxious time. Like some of you I have been anxious to see where DNotes new trading range will settle. It has not settled. We do not know when or at what range it will settle. What I do know is that even the strongest bull will eventually get tired and needs a break. I don’t believe that there is an exception.

Especially in the cryptocurrency space, I am a firm believer that there are three extremely important considerations to examine.  Has the performance appreciation on record been consistent and sustainable? Is the valuation supported by fundamental values with credible growth rate? Are there efforts to pump up the price with exciting ideas without proven track records of disciplined and successful execution accomplished in the past?

Let me conclude with a real life story. When I was quite successful in the computer business in the early 1990s, many approached me for potential investment and partnership. My preference has always been to focus in one big commitment at a time. I am known to be highly focused and not very good at multi-tasking.

However, I like to give others a chance, at least polite enough to give those who tried hard a chance to present their business plan. There was a very persistence young and somehow got a third appointment to present his business plan despite being turned down twice previously. I was already a little annoyed to say the least but still tried to be respectful and listened attentively if he had anything new to add. His ideas were exciting and he came back with addition good ideas. There was nothing else beyond a bunch of “good ideas”. With no interest to meet with him for the fourth time this was what I told him. “Mr. ___, I am sure you can appreciate that I have a very busy schedule. You certainly have a lot of good ideas. However, with due respect, I must put it this way so that we don’t have to go over them for the fourth time. Good ideas are not worth much by themselves. For comparison, if you agree to buy me a cup of coffee I will pay for the tips. That is how much good ideas are worth.” I never saw that young man again.

When investing, don’t base your decision only on just exciting ideas, concepts and possibilities.  “The possibilities are limitless. Sky is the limit.” It may be the case but most likely not. Good luck.

Hi mrbum805. Thanks for your confidence in DNotes. I believe that it will be everywhere one day, for very good reasons; because it is better than fiat currency and it helped many people along the way, especially those who are invested in us for the long term and those less fortunate we were able to help out early.

This is the beginning of a long journey with a lot of hard work ahead. Your Tee Shirts promotional idea is great and the design looks good to me, But artwork is not my area of strength. It will be helpful to get more inputs from our community. I will certainly want to buy some when they become available.

Once again you have made some excellent comments, TeeGee. Your ability to understand our strategic directions is impressive. You have certainly been a valuable contributor in helping us to expand and refine our strategic plans. Let me briefly highlight some of your comments:

1.   Your “own secure bank, and be in pole position to access all new features that stem from it!”  Indeed, DNotesVault could evolve to be a financial powerhouse allowing our depositors to conduct all financial services without the need to go through a bank as we know it today. No third party or middle man needed.

2.   “No single player would have enough capital (in fiat) to ensure the price doesn't
drop down too much.” This will always be the case. Even our most committed supporters are limited in how much they could do. A healthy growth rate providing solid fundamental value is the best line of defense, to avoid drastic price decline. No pump and dump is a critical factor. DNotes core supporters are invested for the long terms. They are net buyers for long term investment.

3.   “It is reasonable to expect price volatility in these market cap zones (in the 10 million dollar zone)” DNotes is already the most stable digital currency in our industry as a result of a different path it has taken since its beginning. DNotesVault, CRISPs, and long-term investment mentality are all designed to minimize volatilities.

4.   “An engaged community, I'm sure that difficulty zone may be overcome through decentralized co-operation in mutually beneficial outcomes for all players.”  A clear and consistent messaging in promoting co-operation in group efforts for mutual benefits has certainly contributed to DNotes stability.

Below is a long article that appeared in Wall Street Journal today. The following caught my attention. In my previous posts I had mentioned our vision of DNotesVault being a critical part of a Global DNotes Financial network that would include a regulated exchange, a DNotes Bank and partner banks. DNotesVault depositors, to the extent of their pre-approval loan to deposit ratio can be instantly approved a loan anytime, anywhere worldwide without a bank or a third party. The funds can be immediately credited to a multiple currency debit card or a bank account.

With due respect, we may already be one step ahead of the Professor of Finance. Our strategic plans are ahead of regulations. I am quite certain that it will become a reality in four to five years. That is one more reason to save your DNotes whether it is to supplement your retirement, help pay off your student loans or for your dream vacation.

"Just as block-chain technology has created a currency that operates without need of a bank, it could help users get loans without a bank, or make investments without a broker or exchange."


Wall Street Journal:
March 1, 2015 11:09 p.m. ET
JOURNAL REPORTS
http://HTTP://WWW.WSJ.COM/ARTICLES/DO-CRYPTOCURRENCIES-SUCH-AS-BITCOIN-HAVE-A-FUTURE-1425269375
Dr. Harvey is a professor of finance at Duke University in Durham, N.C. He can be reached at reports@wsj.com.


[/b]

Innovative alternative currencies come with great possibilities—but also great risks

Despite the mystery, the whiff of scandal, and general public unfamiliarity with the concept, somebody out there is buying, and selling, not just bitcoin but dozens of other cryptocurrencies as well. The total market capitalization for these unregulated electronic forms of payment was roughly $4.04 billion as of mid-February, according to coinmarketcap.com, a website that tracks trading in alternative currencies. More than 500 altcoins, as they are also known, were represented on the site recently.  ……………………..


Valuing Bitcoin as a Technology

True, bitcoin isn’t backed by any central authority. But that doesn’t matter. Bitcoin exists because users assign value to it. To say it violates the rules of finance because it lacks a central issuer is problematic on many levels. Governments don't “guarantee” stability of their currencies—look at the ruble and Swiss franc. Similarly, the fair price of a bitcoin as measured by the discounted value of future cash flows may be zero. But the same is true of fiat currencies, including the euro and U.S. dollar. No commodity underpins the value of a euro or dollar. You tend to lose money when you hold cash. This doesn’t deter people from holding cash.

But forget about exchange rates for a moment. The most exciting thing about bitcoin is the technology behind it, the block chain, an online, transparent record of every transaction on every bitcoin. It is a giant electronic financial ledger that is used to authenticate each transaction and, in the process, produce more bitcoins.

The block chain’s potential reaches far beyond bitcoin the currency. It is a way to both verify ownership and to set up contracts. Imagine getting into your car. Through your mobile device, the car locates your identity code and proof of purchase in the block chain. This allows the car to start. But say you have missed three payments on your car loan. Additional terms in the block chain make sure the car will only start for the person or institution that lent you the money.

Making contracts part of a block chain would be easy by introducing “if, then” statements to the chain in computer code. Almost any financial instrument, including stocks, bonds or options, could be represented and made verifiable in such a format.

Disrupting Markets

Just as block-chain technology has created a currency that operates without need of a bank, it could help users get loans without a bank, or make investments without a broker or exchange.

Yes, the value of a bitcoin has fallen sharply over the past year. However, it is a serious mistake to judge bitcoin’s future based on the movement in the exchange rate. A better indicator is the activity of highly respected venture capitalists who are pouring money into hundreds of bitcoin- and block-chain related ventures.

It is true that bitcoin is currently too volatile to be a long-term store of value. But much of this is due to illiquidity, which is not unexpected when the technology is so new. A regulated, insured, U.S.-based bitcoin exchange opened in January that is backed by the New York Stock Exchange, which should add liquidity and reduce volatility.

You have good instinct waterpile. We are just getting started. There are a lot of things we don't know either. So welcome to the party. We need all the good idea and support from everyone to make DNotes increasingly more valuable and useful.

They are doing a great job. I have officially offered some help on behalf of DNotes. The same offer is extended to other groups that can use some DNotes to advance their mission to help others. They are encouraged to contact me directly at: contact@denotescoin.com.

From CryptoMoms forum:

Another busy day for me. I am trying to get more mileage out of my limited time.

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Quote from: Alex1001 on Today at 12:35:49 PM

Hello everyone,

How are you all doing? Haven't heard from me for a while...
Well i was arround all the time, just wanted to make sure if everything is going fine on our side (a baby we're expecting) and thankfuly is!
So i decided to isten to Shepherd's and Chase's advice and create an addres for a new baby (we stil haven't decided on name) but Filip is hoping for a brother.  
So, here it is:
The New Baby: DkPub4VVo5DdV6TDWyPx4npxr7inrmppvb

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Quote from: Chase on Today at 01:53:34 AM
The CRISP Circle Of Life


The old (parents and grandparents),

Give to the young (kids and students),

The young grow up,

Save until they are old,

And start giving to the young...

 **********************************

Quote from Alex:                

I like the observation and hopefully it'll become a trend.
But here's another trend i'm noticing: we're all whitnessing to arrival and growth of a new, Crypto generation! There's us, hippies, LOL, then the internet generation and now, the Crypto generation!
Kids, babies and even still unborn babies are involved in crypto, which may, and for most of them will, change/improve they're lives.
And, i'm affraid you guys paved the way to that.


*************************
Quote from Shepherd:

Hi Alex 1001.  We are delighted to hear from you, especially to learn that you and your family are doing fine and a new addition to the family is on the way. Congratulations!! Hope Filip’s wish will come true. But a sister is wonderful.

You are correct Alex. There have been significant changes in the world we live in, just over the last forty years. There have been the arrival of the personal computers, fax machines, cell phones, internet, on line shopping among others; and now digital currency. We have been going through good time and challenging time, adjusting to an ever changing world at rapidly increasing speed. It has never been easy for the average Joes and Janes to feel comfortable in understanding and adopting early stage technologies. Digital currency, being significantly more complex and far-reaching is becoming even more intimidating to most people.

In many ways, our generation has been able to survive with a lot less. With mounting regulations, national, business and personal debts the stress level has been high and will only get worse. Having personally gone through good time and bad time to an extreme degree, I can relate well to an increasingly challenging world. It is not likely that we can change the world but we are committed to making a positive contribution by providing the tools to help those who believe in helping themselves and their family early, to avoid or minimize painful financial struggle. That is what DNotes family of CRISPs is about.

We strongly believe that DNotes will be the digital currency of the future with lasting value. It is built with trust and integrity for everyone, backed by our strong commitment to strive for the mutual benefits for all our supporters and stakeholders. DNotes may be the only coin that is fully funded by a few stakeholders who are average wage earners, with day jobs. DNotesVault is a free service for the convenience of our stakeholders to securely store their DNotes with 100% deposit guarantee. Our family of CRISPs are managed by volunteers from our community. We are most fortunate to have your confidence and support and that of many others. Thank you.

Thanks, Chase. This is a good confirmation that DNotes is on the right track in more ways than one. DNotes could one day be characterized as the currency with a mission.

That is a fair warning, Mochillies. I just want to point out that the “inevitably rocket through” will not be the result of a pump from our community. However, you are correct that rapid price appreciation will get the attention of the investment community. This will result in a quick shift of the industry ecosystem to support DNotes.

From a strategic standpoint, DNotes is positioned for massive growth with highly scaleable infrastructure. Extreme price spike will cause a more pronounced rollercoaster ride than we like to see. We have a huge advantage of being deeply informed about our industry and can react quickly. We are agile, decisive, and firmly committed to the mutual benefits of all our stakeholders. 

Thanks, RJF.

Thanks for bringing Bleutrade to our attention. I know of them as a startup in Brazil serving the Latin America market. I am quite impressed by their PR/social media efforts. We have not made any attempts to have DNotes listed on their exchange but will support it if someone from our community is willing to take the lead. Eventually we expect that most exchanges will want to list DNotes. However, since CRISP for Students is meant to serve a worldwide market right from the beginning, it does make sense to expand our international exposure. We are interested to have feedback and comments from our community.