Interesting news about Coinbase: "The AOL of Bitcoin Has Arrived: Coinbase Launches First True Global Bank" "Coinbase just used its Bitcoin foundation to become the world’s first global bank. Let that sink in. Sure, there are international banks, but operationally these banks function more as group of allied national banks who share a brand. That is not the same thing as a global bank. A customer in Greece, for example, who opens an account with Coinbase, is now doing business directly with a U.S.-based “bank.” Thanks to Coinbase’s $75 million funding round provided by the NYSE, large U.S. banks, a multinational telecom company and a roster of finance VIPs, you can now open an account in a country such as Poland or Greece, fund your account via bitcoin or wire, and hold your money in U.S. dollars in the comparatively stable U.S.A. Your money is now completely insulated from your local currency issues, but spends the same as euros in your local bank account. This is the best of both worlds: all the functionality of your existing bank (and more), without the associated risks and fees. In addition to the banking services, Coinbase has just created the easiest, cheapest, least corrupt and most secure way to buy dollars. I imagine we’ll see an increasing number of local currencies you can hold in your account, too." Full article: https://bitcoinmagazine.com/19296/aol-bitcoin-arrived-coinbase-launches-first-true-global-bank/-------------------------------------------------------------------------------------------------------------------------- ?? If Coinbase becomes a household name around the world and people learn that you can buy bitcoin there and turn it into DNotes... ?? What are the chances of Coinbase selling DNotes for USD? Is this all wishful thinking? Chase, the answer to your question is yes. That is a real possibility. If they don't, one of their closest competitors will. However, I do not expect this to happen any time soon. In another two to three years, DNotes will have many partnership options to choice from. Powerful strategic plans are best executed at the most opportune time in a systematic sequence. I am extremely confident that DNotes has a solid growth path going forward. While the news article about Coinbase is interesting, there is nothing new about what they are doing. The key to success is a digital currency that is stable and accepted by the masses with significant advantages as a medium of exchange. It's a benefit to all of us if Bitcoin does well and I am confident that Bitcoin will do significantly better. For that reason DNotes should not attempt to decouple from Bitcoin too soon. Frankly, on the currency side, DNotes is a new and improved version of Bitcoin, hence a Bitcoin Alternative DNotes. Having said that, it is important to recognize that Bitcoin has a structural weakness on the currency side and it could only have been corrected right from the beginning. That is where DNotes will trump. The longer DNotes has been around the more pronounced our position of strength will become. DNotes business model is extremely difficult to replicate, as CryptoBrooker pointed out once. That is one of the best observations on the uniqueness of DNotes. Selling DNotes short these days may not be good for one's financial health. But then, no investment is a sure thing that comes with guarantee. It is still a high risk speculative play. |
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Today.
Quote from RJF:
No problem with staying the course, been there, done that. And, I firmly believe your analysis is correct and you plan is solid. I do however, tend to think "out of the box" and enjoy putting forth ideas for others to chew on.... Makes the meal more interesting.
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Thinking "out of the box" is one of the secrets to DNotes success. That is what differentiates DNotes from others. It is great to ask "Why not" than responding with "me too" which happens too often. That is one of the reasons why 80% of businesses failed within the first two years. I suspect that the failure rate in our industry is likely to be much higher.
Things should not have been so complicated. Many of the confusion and complications are self-inflicted and sensationalized by the mainstream media. It will take some highly focused positive push back from our industry. Unfortunately, the available leadership from our industry to stage such a positive media campaign with supporting facts is lacking. No single individual or group seems to have sufficient self-interest to lead the charge. With limited resources, DNotes can only do so much and must take our time to do things right. We are in agreement. I am simply trying to expand on the importance of certain issues confronting our industry.
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A humorous rebuttal to this was posted on CryptoMoms. Posted by: BitcoinBandit Re: Bitcoin - Believe It Or Not! « Reply #8 on: August 27, 2014, 03:48:53 PM » Believe it or not, in March 2014, a U.S. congressman asked for a ban on dollar bills. Here's why... http://www.usnews.com/news/articles/2014/03/05/congressman-asks-for-dollar-bill-banexcerpts - "Rep. Jared Polis, D-Colo., asked federal regulators to ban dollar bills Wednesday, lampooning a similar request from Sen. Joe Manchin, D-W.Va., that the feds ban the digital currency Bitcoin." "In a humorous rebuttal that nearly parrots Manchin, Polis wrote to the same regulators: “The clear use of dollar bills for transacting in illegal goods, anonymous transactions, tax fraud, and services or speculative gambling make me wary of their use. Before the United States gets too far behind the curve on this important topic, I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans.” “The very features of dollar bills, such as anonymous transactions, have created ubiquitous uses from drug purchases, to hit men, to prostitutes, as dollar bills are attractive to criminals who are able to disguise their actions from law enforcement..." That was indeed "A humorous rebuttal to this was posted on CryptoMoms". Now that you reminded me I remember that. Good recall, Chase. Thanks. |
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"At this point, is DNotes a currency? It is or it will be if that makes someone happier. Is a loaf of bread dough in the oven a loaf of bread? Well, what do you think?" What do I think? Well, I think we, as an industry, need to stop trying to apply the old definitions and standards to our new entity. I think the time for "money", "commodities", etc is passing into the history books. I think there is a much bigger picture here that we could be painting. Why do we need to put crypto currency in one of the old boxes? So people will say "Oh, it's money..." or "Yes, it's like a stock..." or gold or whatever. Perhaps but, only to ease the transition. It's like NONE of those, it's a new concept. Was the Internet a phone system, no, it was something totally new and radical and it became a great success because it was it's own entity despite it's faults and failures failures. I believe, in this case, re-inventing the wheel is fine if the new wheel doesn't resemble the old one. What you said about being whatever makes people happy is very true, at this stage. It would be way to much to expect the general population to quickly accept a totally new concept in finance and store/transfer of value much past what we are already doing (which they don't understand anyway) but, look to the the more distant future, money needs to be totally redefined, a paradigm shift if you will, somewhere in the not too distant future. Right now, we are really not redefining the whole concept of value, just changing the medium and making the token much more powerful. But even so, I think we are just starting to realize the true potential of the revolution. Now back to the real world...  RJF, that is one way of looking at it. Unfortunately, our real world is very argumentative. If we can effectively close that argument and win it; that shall be our preference. The functions of money are very definable. These three functions are unit of account, store of value, and medium of exchange. (There is a fourth function: standard of deferred payment, not as widely used.) DNotes is positioned to fulfill all the functions of money and more. It absolutely can be accomplished because that is what we have planned for right from the start. The potential rewards for accomplishing this objective is staggering and I am certain that we can make it happen. DNotes, without a doubt has met the “unit of account” and “store of value” functions. It has deliberately postponed any direct attempts to be qualified as a “medium of exchange” for very strategic reasons. If we have not taken the “test” how can any reasonable people claim that we failed? We may be still waiting to be qualified. Indeed, we are by choice and we are working very hard to pass that test with flying colors. DNotes, CryptoMoms, DNotesVault and our family of CRISPs. are the strategic vehicles that will lead us to the successful accomplishment of qualifying DNotes as a medium of exchange. This will be clearly established within 24 months. DNotes will be three years old then. That would be quite impressive. Let us meet that challenge head on. It is not necessary for us to redefine the functions of money. Instead, we will focus in creating and building a Digital Currency that is better than money. That is our commitment and source of inspiration. Let us stay the course. |
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Help us capture some memories from the Past.
In preparation for our open house next week we invite you to post your favorite tidbits from earlier posts, including your own. You may add your comments, if you wish. Let us make it a fun and memorable week. Try to make things short and sweet and avoid long re-quote, wasting too much space. Thanks.
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Just a little history:
Quote from MinningHabit
March 2, 2014
Page: 39
An interesting prospective:
“For me, cryptos represent a way to maintain control amidst all of this pervasiveness. Don't get me wrong, our collective quality of life will improve immeasurably and in untold awesome ways. But all that progress will have a cost. And I think altcoins represent a significant piece of insurance against technological progress stifling our humanity. I don't want to be controlled, and I don't want financial companies, among others, to have the kind of power over me that they do now. For example, Visa is larger than Disney. Mastercard is larger than Boeing and McDonald's.
They are that big because of the centralized power of current wealth transfer paradigms. Decentralized, superrrrr-secure paradigms with broad support, like DNotes, are perfect cogs to be a part of running the ‘anti-machine’."
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Just a little history.An early research:This has an influence on DNotes’ Road Map: Is Bitcoin a Real Currency? An economic appraisal David Yermack NBER Working Paper No. 19747 Issued in December 2013 NBER Program(s): LE ME A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely fails to satisfy these criteria. Bitcoin has achieved only scant consumer transaction volume, with an average well below one daily transaction for the few merchants who accept it. Its volatility is greatly higher than the volatilities of widely used currencies, imposing large short-term risk upon users. Bitcoin's daily exchange rates exhibit virtually zero correlation with widely used currencies and with gold, making bitcoin useless for risk management and exceedingly difficult for its owners to hedge. Bitcoin prices of consumer goods require many decimal places with leading zeros, which is disconcerting to retail market participants. Bitcoin faces daily hacking and theft risks, lacks access to a banking system with deposit insurance, and it is not used to denominate consumer credit or loan contracts. Bitcoin appears to behave more like a speculative investment than a currency. http://www.nber.org/papers/w19747******************************* Comments from Dyna:“A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely fails to satisfy these criteria.” Okay, so David Yermack, a professor of finance at the NYU Stern School of Business argued that Bitcoin failed to meet the bona fide currency functions as a unit of account, a store of value, and a medium of exchange and therefore it is not a currency but a speculative investment. What if a Bitcoin Alternative DNotes can meet and exceed those “bona fide currency functions? Would that be the currency of the future then?“……. Volatility ….. making bitcoin useless for risk management and exceedingly difficult for its owners to hedge.” Not useless, but exceedingly costly to hedge, thereby wiping out all low cost transaction savings. I have made that point many times. Clearly the challenges Bitcoin faces today are not new. The article above was published in December 2013.DNotes is fortunate to know the problems confronting Bitcoin before we laid our first foundation block. Amazingly this was one of the earliest articles studied in my early research on Bitcoin before we started to map out the “Winning Strategies for DNotes” in January 2014. We decided to build a currency from ground up with trust and integrity so that it has the best chances to be the “Digital currency of the Future with Lasting Value” and launched it flawlessly on February 18, 2014. The rest is history.
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Just a little history.
First official post from Dyna
Re: [ANN][NOTE]DNotes - LAUNCHED!!! - Cryptocurrency of the Future
February 28, 2014, 04:38:06 AM
#748
Quote from: mikbe on February 27, 2014, 08:02:11 PM
I don't get it. Who is that idiot who sells NOTEs a little over 300 satoshi?
Quote from Dyna:
Everyone sees value differently. It may be a good thing that some are willing sell low and let others with limited resources to buy in and join our growing community of stake holders. Our strong believers will also have the opportunity to increase their stake.
DNotes is a diamond in the rough for stake holders with patience and appreciation for lasting value. May be not so much for those expecting “pump and dump” so common in the crypto currency world. DNotes’ team has impressed many with a flawless launch and now totally focused in building a strong community with generous giveaways everywhere. Quite refreshing to see a very dedicated team with strong commitment in creating value for long term stakeholders with no sign of participating in selling (dumping) at Allcoin, the only exchange currently available to trade DNotes.
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Just a little history:Page 38 Quote from Allcoin.com Re: [ANN][NOTE]DNotes - LAUNCHED!!! - Cryptocurrency of the Future February 26, 2014, 04:28:14 AM #714 (First day traded) Unit of Account established. Guys exchange your NOTE @ https://www.allcoin.com/trade/note_btc**************************** Re: [ANN][NOTE]DNotes - LAUNCHED!!! - Cryptocurrency of the Future February 27, 2014, 08:02:11 PM #745 Quote from mikbe: “I don't get it. Who is that idiot who sells NOTEs a little over 300 satoshi?” Comments: DNotes was traded at as low as 28 sat on March 6, 2014 and continued with a trading range of 80 to 100 sat for some time. It is now trading at 4000 sat and has always been the most stable digital currency among over 500 traded crypto currencies. It has consistently created higher highs and higher lows.
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Just a little History: Page 35 https://bitcointalk.org/index.php?topic=470155.680e: [ANN][NOTE]DNotes - LAUNCHED!!! - Cryptocurrency of the Future February 25, 2014, 03:02:49 AM #686 DNotes will be one week old tomorrow ( February 25, 2014). We are most appreciative of the tremendous support and confidence you have given us. This is just the first baby step. For DNotes to truly be the currency of the future, it must take a different path to create a new culture of equal opportunity, trust and fairness to all, irrespective of their capabilities and resources. Building a strong community with a very large number of stakeholders throughout the world in an environment sufficiently comfortable and favorable to assist and trade with one another, is one of many building blocks in our road map. This is not just another "marketing coin" as some have suggested. However, our "Rule of Engagement" is "Do Not Engage". It is more productive for us stay focused in systematically executing our strategic plan to the benefits of all of our stake holders than to win over a few non-believers. For those who are interested in getting a better understanding of our business, follow our postings closely. We invite you to re-post them in part or in full as you feel appropriate. The true value of DNotes is in the future. We are committed to working collectively with you to increase the asset value of DNotes for the long-term. We will be launching a large scale promotion to get DNotes into the hands of many utilizing a single use faucet and incorporating a DNotes tip bot on Reddit, which will be announced as soon it is finalized and tested successfully. +1 you like remaked pic Dyna?, im without photoshop so reduced capabilitys but go on I like "I CAN FEEL MY RETIREMENT PLAN" remaked pic very much". That is my top pick. |
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Excellent job, infovortice2013.
I love the revised "I CAN FEEL MY RETIREMENT PLAN".
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Just a little History: Page 35 https://bitcointalk.org/index.php?topic=470155.680e: [ANN][NOTE]DNotes - LAUNCHED!!! - Cryptocurrency of the Future February 25, 2014, 03:02:49 AM #686 DNotes will be one week old tomorrow ( February 25, 2014). We are most appreciative of the tremendous support and confidence you have given us. This is just the first baby step. For DNotes to truly be the currency of the future, it must take a different path to create a new culture of equal opportunity, trust and fairness to all, irrespective of their capabilities and resources. Building a strong community with a very large number of stakeholders throughout the world in an environment sufficiently comfortable and favorable to assist and trade with one another, is one of many building blocks in our road map. This is not just another "marketing coin" as some have suggested. However, our "Rule of Engagement" is "Do Not Engage". It is more productive for us stay focused in systematically executing our strategic plan to the benefits of all of our stake holders than to win over a few non-believers. For those who are interested in getting a better understanding of our business, follow our postings closely. We invite you to re-post them in part or in full as you feel appropriate. The true value of DNotes is in the future. We are committed to working collectively with you to increase the asset value of DNotes for the long-term. We will be launching a large scale promotion to get DNotes into the hands of many utilizing a single use faucet and incorporating a DNotes tip bot on Reddit, which will be announced as soon it is finalized and tested successfully.
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This is a dated article but very positive and objective. I have been having a hard time finding positive and meaningful articles on digital currency lately and hence, selected this one with my comments: Quote from: Bank of Canada Senior Deputy Governor Carolyn Wilkins: "What we find is that adoption of e-money is exactly like the tango - it takes two. Buyers need to decide whether to use the new payment method while sellers need to decide whether they’ll accept it. It turns out that it’s the seller’s side that leads the dance; if there is a large enough fraction of sellers accepting new payment methods, more and more buyers are prompted to use them, eventually leading to complete adoption on both sides. In the case of Bitcoin, not many people want to dance." She went on to explain that this, “is due to the fact that Bitcoin has "serious flaws when it comes to satisfying the three main characteristics of money." She was referring to the three functions of money being: 1) unit of account, 2) store of value, and 3) medium of exchange. I have provided extensive coverage on this subject beginning on page 105 of this forum in case you are interested: https://bitcointalk.org/index.php?topic=470155.2080I suspect that her concern about Bitcoin’s serious flaws is due to Bitcoin high volatilities making it a poor store of value and a risky medium of exchange with high potential currency loss. Hedging could minimize these serious flaws, but it is costly, without sufficient advantages from other sources to offset it. Miss Wilkins went on to say, "If e-money denominated in Canadian dollars were to significantly replace bank notes, there are some options that the central bank could take so as to be in a position to intervene in markets or be the lender of last resort." To conclude, Wilkins said that while 'e-money' offered many benefits, these technologies are "circumventing our old models of payment," and have developed "new risks" that could dramatically affect the Canadian financial system as a whole.” It is most encouraging to learn that she did not rule out the possibility that digital currency could significantly replace bank notes. That has been DNotes’ position. It will not replace fiat currency but significantly supplement it on a global scale. The potential is straggling. *********************** Bit-Curious? Bank of Canada Flirts with Bitcoin despite ‘New Risks’ to Status Quoby Diana Ngo @ 2014-11-14 11:54 AM http://cointelegraph.com/news/112922/bit-curious-bank-of-canada-flirts-with-bitcoin-despite-new-risks-to-status-quoOn November 13, Bank of Canada Senior Deputy Governor Carolyn Wilkins gave a speech at Wilfrid Laurier University in Waterloo, Ontario, on 'Money in a Digital World,' where she tackled the topic of 'e-money,' dissecting both the benefits and risks of such innovations, and said that Canada's central bank was "undertaking research on the potential merits of issuing e-money." "There are two types of e-money that I want to talk about today," started Wilkins. "The first type is denominated in a national currency, and it represents a claim on the issuer. The second type of e-money is cryptocurrency - such as Bitcoin. This type of e-money is not denominated in any national currency and so has its own unit of account." She continued, "It is also completely decentralized and does not represent a claim on the issuer. This is the revolutionary part of cryptocurrencies - transactions can be validated without a trusted third party." Mentioning the case of Kenyans and M-Pesas, the Senior Deputy Governor said that while e-money was particular popular in developed countries where relatively fewer people have access to banking services, cryptocurrencies have yet to gain much traction with people making purchases in Canada. Taking the figurative example of the tango, she argued, "What we find is that adoption of e-money is exactly like the tango - it takes two. Buyers need to decide whether to use the new payment method while sellers need to decide whether they’ll accept it. It turns out that it’s the seller’s side that leads the dance; if there is a large enough fraction of sellers accepting new payment methods, more and more buyers are prompted to use them, eventually leading to complete adoption on both sides. In the case of Bitcoin, not many people want to dance." This trend, she explained, is due to the fact that Bitcoin has "serious flaws when it comes to satisfying the three main characteristics of money." Thus, the Bank of Canada views Bitcoin and other cryptocurrencies as investment products rather than money, and she noted that "any resulting gains or losses could be taxable income that must be reported." Even though 'e-money' is not big enough to pose any risk to Canada's financial stability, the central bank is "watching developments closely." She added, "The federal government also is undertaking a review of payment systems in Canada to ensure that the degree of regulation of payment systems and methods is appropriate." And while cryptocurrencies offer many benefits such as costs reduction, and increased privacy, the Senior Deputy Governor argued there are many risks from which people needed to be aware of. These risks, she said, include the fact that cryptocurrencies are "lightly regulated with limited or no user protection," the exposure to theft, fraud and loss, when trusting a third party such as an exchange or a Bitcoin wallet company, and finally, the fact that cryptocurrencies can be used for money laundering, terrorist financing, and other criminal activities. In the potentiality that cryptocurrencies were to gain widespread acceptance, "there would be implications for the central bank," said Wilkins. She explained, "In the unlikely situation in which cryptocurrencies were used broadly, a significant proportion of economic transactions would not be denominated in Canadian dollars. This would reduce the Bank’s ability to influence macroeconomic activity through Canadian interest rates. "If e-money denominated in Canadian dollars were to significantly replace bank notes, there are some options that the central bank could take so as to be in a position to intervene in markets or be the lender of last resort." To conclude, Wilkins said that while 'e-money' offered many benefits, these technologies are "circumventing our old models of payment," and have developed "new risks" that could dramatically affect the Canadian financial system as a whole. Thus, she said, "the federal government, with the Bank's help, is modernizing the oversight frameworks for payments," and "the Bank is also undertaking research on the potential merits of issuing e-money." The Bank of Canada is said to be "working through the tough issues," in order to "support the benefits of innovation, while safeguarding the integrity of Canada's money and payment systems and, ultimately, financial stability." In all these articles, good and bad, there seems to still be a lack of understanding exactly what Bitcoin et al, really is. Financial "experts" treat it as a token rather than a complete financial system. Granted, it has the ability to be both as well as a commodity but, truth be said, Bitcoin is a fully functional financial system with a digital "token" being the Bitcoin unit itself. It's a matter of semantics, call it what you want, it's a two part system at it's core. This is how I see it anyway and until a global consensus is reached, we will have volatility and varying levels of adoption. DNotes has the ability to stem this problem by fully defining itself and it's included parts. I would say the following apply. 1. DNotes is a financial system and store of transferable value. 2. DNotes is a currency. 3. DNotes is a token within the currency. 4. DNotes can ACT as a commodity if needed. We need to define how these individual constructs make up a complete system that can function world wide. What I'm getting at here is something much more than "Bitcoin" and buying trinkets on line. This overall view of Bitcoin right now is fragmented into many pieces and directions. A solid financial system with a well defined purpose and use can make much headway in the adoption arena. SO, my point is simply, DNotes can be something more than the sum of it's parts. I'm not saying Bitcoin can't be but, Bitcoin is quickly getting locked into it's roles both good and bad, and will not be able to fulfill all the roles it's being asked to play. If we can set out clear guidelines and purposes for DNotes now we have a great chance to fill those roles in the future. Perhaps it's time to define digital currency as a whole new form of exchange of value which can be spent, saved, invested, used as a global transfer medium, used to convey value in all transactions, and most important, used by ANYONE. And, we must avoid over complicating the issue. K.I.S.S. applies here is a big way. Some of the things needed to make this work: 1. No bars to entry. 2. Ease of exchange 3. Steady/appreciating value. 4. Clear method of transfer and use. 5. Easy secure storage We already have some of these in play. Oh well, just my rambling 2 cents worth as I sit here at the Museum and watch the temp drop and the snow swirl... RJF, your points are well taken and they are worth a lot more than 2 cents, I mean 2 DNotes. DNotes has been defining itself by showing, not claiming or telling, and one thing at a time. 1. Unit of account - no one should challenge that. DNotes is worth 4000 sat each, more or less. 2. Store of value - it has been better than gold or USD and better than any other crypto currency I know of. 3. Medium of exchange - working on it. In another two years DNotes will not only fulfill every function of money but much more. That is how DNotes will be defined. At this point, is DNotes a currency? It is or it will be if that makes someone happier. Is a loaf of bread dough in the oven a loaf of bread? Well, what do you think? DNotes, CryptoMoms, DNotesVault and our family of CRISPs are all strategically linked. They move as a battle group. It is a gathering force that will be more noticeable over time. Given the time, it will be overwhelming and well worth our contributions. |
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They are all great, but my favorite is #3. Is #2 DNotes on the brain or the guy wondering how many DNotes it would take to buy some hair??  Thinking about retirement? Keep DNotes in mind... infovortice, they are all awesome and I hope everyone understands my post was a joke.  Chase, you were very funny. I couldn't stop laughing. |
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Thank you infovortice2013! We really appreciate your help promoting DNotes to the Spanish community! It would probably be best to use the standard DNotes coin logo for branding purposes.
ok, i make some pics to spam over social media next days hope you like it    Great job. Try # 2 with: I can finally see my Retirement in the Horizon (Replace top) (Keep picture, keep DNotes logo on head) CRISP For Retirement (bottom center) DNotesVault.com It's the funny side that people will remember. And the curious will try to find out what is CRISP about. Could be very effective. |
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This is a dated article but very positive and objective. I have been having a hard time finding positive and meaningful articles on digital currency lately and hence, selected this one with my comments: Quote from: Bank of Canada Senior Deputy Governor Carolyn Wilkins: "What we find is that adoption of e-money is exactly like the tango - it takes two. Buyers need to decide whether to use the new payment method while sellers need to decide whether they’ll accept it. It turns out that it’s the seller’s side that leads the dance; if there is a large enough fraction of sellers accepting new payment methods, more and more buyers are prompted to use them, eventually leading to complete adoption on both sides. In the case of Bitcoin, not many people want to dance." She went on to explain that this, “is due to the fact that Bitcoin has "serious flaws when it comes to satisfying the three main characteristics of money." She was referring to the three functions of money being: 1) unit of account, 2) store of value, and 3) medium of exchange. I have provided extensive coverage on this subject beginning on page 105 of this forum in case you are interested: https://bitcointalk.org/index.php?topic=470155.2080I suspect that her concern about Bitcoin’s serious flaws is due to Bitcoin high volatilities making it a poor store of value and a risky medium of exchange with high potential currency loss. Hedging could minimize these serious flaws, but it is costly, without sufficient advantages from other sources to offset it. Miss Wilkins went on to say, "If e-money denominated in Canadian dollars were to significantly replace bank notes, there are some options that the central bank could take so as to be in a position to intervene in markets or be the lender of last resort." To conclude, Wilkins said that while 'e-money' offered many benefits, these technologies are "circumventing our old models of payment," and have developed "new risks" that could dramatically affect the Canadian financial system as a whole.” It is most encouraging to learn that she did not rule out the possibility that digital currency could significantly replace bank notes. That has been DNotes’ position. It will not replace fiat currency but significantly supplement it on a global scale. The potential is straggling. *********************** Bit-Curious? Bank of Canada Flirts with Bitcoin despite ‘New Risks’ to Status Quoby Diana Ngo @ 2014-11-14 11:54 AM http://cointelegraph.com/news/112922/bit-curious-bank-of-canada-flirts-with-bitcoin-despite-new-risks-to-status-quoOn November 13, Bank of Canada Senior Deputy Governor Carolyn Wilkins gave a speech at Wilfrid Laurier University in Waterloo, Ontario, on 'Money in a Digital World,' where she tackled the topic of 'e-money,' dissecting both the benefits and risks of such innovations, and said that Canada's central bank was "undertaking research on the potential merits of issuing e-money." "There are two types of e-money that I want to talk about today," started Wilkins. "The first type is denominated in a national currency, and it represents a claim on the issuer. The second type of e-money is cryptocurrency - such as Bitcoin. This type of e-money is not denominated in any national currency and so has its own unit of account." She continued, "It is also completely decentralized and does not represent a claim on the issuer. This is the revolutionary part of cryptocurrencies - transactions can be validated without a trusted third party." Mentioning the case of Kenyans and M-Pesas, the Senior Deputy Governor said that while e-money was particular popular in developed countries where relatively fewer people have access to banking services, cryptocurrencies have yet to gain much traction with people making purchases in Canada. Taking the figurative example of the tango, she argued, "What we find is that adoption of e-money is exactly like the tango - it takes two. Buyers need to decide whether to use the new payment method while sellers need to decide whether they’ll accept it. It turns out that it’s the seller’s side that leads the dance; if there is a large enough fraction of sellers accepting new payment methods, more and more buyers are prompted to use them, eventually leading to complete adoption on both sides. In the case of Bitcoin, not many people want to dance." This trend, she explained, is due to the fact that Bitcoin has "serious flaws when it comes to satisfying the three main characteristics of money." Thus, the Bank of Canada views Bitcoin and other cryptocurrencies as investment products rather than money, and she noted that "any resulting gains or losses could be taxable income that must be reported." Even though 'e-money' is not big enough to pose any risk to Canada's financial stability, the central bank is "watching developments closely." She added, "The federal government also is undertaking a review of payment systems in Canada to ensure that the degree of regulation of payment systems and methods is appropriate." And while cryptocurrencies offer many benefits such as costs reduction, and increased privacy, the Senior Deputy Governor argued there are many risks from which people needed to be aware of. These risks, she said, include the fact that cryptocurrencies are "lightly regulated with limited or no user protection," the exposure to theft, fraud and loss, when trusting a third party such as an exchange or a Bitcoin wallet company, and finally, the fact that cryptocurrencies can be used for money laundering, terrorist financing, and other criminal activities. In the potentiality that cryptocurrencies were to gain widespread acceptance, "there would be implications for the central bank," said Wilkins. She explained, "In the unlikely situation in which cryptocurrencies were used broadly, a significant proportion of economic transactions would not be denominated in Canadian dollars. This would reduce the Bank’s ability to influence macroeconomic activity through Canadian interest rates. "If e-money denominated in Canadian dollars were to significantly replace bank notes, there are some options that the central bank could take so as to be in a position to intervene in markets or be the lender of last resort." To conclude, Wilkins said that while 'e-money' offered many benefits, these technologies are "circumventing our old models of payment," and have developed "new risks" that could dramatically affect the Canadian financial system as a whole. Thus, she said, "the federal government, with the Bank's help, is modernizing the oversight frameworks for payments," and "the Bank is also undertaking research on the potential merits of issuing e-money." The Bank of Canada is said to be "working through the tough issues," in order to "support the benefits of innovation, while safeguarding the integrity of Canada's money and payment systems and, ultimately, financial stability." |
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The website looks very good! I have made two deposits into my retirement account, one in the 5 year and one in the 10 year. I will make deposits into these frequently and build them eagerly. DNotes CR.I.S.P. programs are wonderful.
Wow. That was quick. I didn't know that we already have 8 retirement accounts signed up until I checked it out a few minutes ago. That is quite a vote of confidence. We had to struggle to meet dateline before and now it looks like we will be ahead of schedule. What a team! Great job! |
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We are can use more creative contributions in coming up with positive Headlines for 700 word PR Campaign targeting Mainstream Media:
1. DNotes Digital Currency Reaches Out To Include Everyday People In The Rewards Of Early Technology Investment
2. Government Run Pension Plans Unsustainable As DNotes Continues To Assist People In Rebuilding With CR.I.S.P. For Retirement.
3. Bitcoin Alternative DNotes May Provide The Comfort Mainstream Media Needed, if one year of Consistent Stability with Solid Appreciation can Restore their Confidence.
4. Trust is Central to the Success of a Trustless Decentralized System. Bitcoin will succeed with a little more Love and a lot more Trust.
5. DNotes Digital Currency Edges Closer To Mass Adoption With Their CR.I.S.P. Programs
6. DNotes Stability Record Sets The Standard For Others To Follow
7. DNotes Provides True Innovation in Digital Currency by Going Back to the Roots of Money Itself.
8. More than just another Digital Currency, DNotes Works for Your Future While Providing for the Present.
9. It's Time To Get Serious About Your Digital Portfolio. DNotes offers numerous options designed to help you transition to the future of Digital Currency.
10. DNotes For Debt? Is A Stable Digital Currency The Answer To Your Future Being Debt Free?
11. All you need for your future is CR.I.S.P. for Retirement.
12. DNotes revolutionizes savings with its CR.I.S.P. for Retirement plan.
13. DNotes is the most stable digital cryptocurrency with history to prove it.
14. In the world of cryptocurrency, DNotes has become the solid foundation on which to build your future using CR.I.S.P. for Retirement.
15. CryptoCurrency, moving too fast for it's own good
Thanks. It is shaping up to be a great list. We can use a few positive headlines that are more general in support of our industry. We still have CRISP for Students, Employee Benefits, and Charity to be rolled out with at least one press release each. Don’t forget CryptoMoms which should get a couple too. In total there will be at least two press releases each month.
It is quite demanding in terms both time and money. This is funded by a few of our larger stakeholders. We do not seeking donation from our community. That is another major difference about DNotes. Together with a very dedicated community DNotes will continue to fulfill its missions with gathering strength.
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Super! I just sent them an email about 30 minutes ago, basically asking them to resolve the issue as it was a main attraction for me as well as others I will let you know what their response is when I know. THX Thanks, MinermanNC. Your support is well appreciated. |
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