Certainly good to have bitcointalk back up and running. It was frustrating not to be able to communicate through this channel for almost two days. The good part for me was that I was able to spend some serious time on another project and did a good amount of writing.

Please comment on the following post from CryptoBroker79.

General Discussion / Bitcointalk Down
CryptoMoms:
« Last post by CryptoBroker79 on Today at 02:17:54 AM »

Hello everyone, like many of you I rely mainly on Bitcointalk to stay up to date with DNotes. This is one heavily centralized aspect most cryptocurrencies have in common. We need to diversify our lines of communication, so the next time bitcointalk goes down we have an alternate place to continue the discussion. This incident demonstrates the importance of a site like CryptoMoms to DNotes success.

What do you think?

Chase, absolutely. Each individual retirement account information display value remains private and only the account/password owner can view it. However, the database collects the aggregate current and accumulative total at our disposal to display various data we consider important. This can include total number of retirement accounts, total deposit, performance % gain/loss, industry comparables and others. I am not ready to drive our Dev. team crazy, and so, will point out that feature up grade can be expected over time.

We can also expect that we will be pushing very hard for IRA tax deferred status at the appropriate time. The site itself will likely be substantially upgraded in the future to include many other features and services. That is part of our growth path.

You are correct that most of the VC investment has been going to fund the ecosystem and technology related areas. Money invested in the currency itself is typically harder to track and do not get as much attention since it is considered as a liquid asset investment. It can be traded in an out very quickly.

However, we need to know that a very clear trend is developing, one that is extremely favorable to our family of CR.I.S.Ps. and DNotes itself as a currency.  Professional investors take long term investment and smart asset allocation very seriously. Digital currency will eventually be part of every serious investment portfolio. Things can change, of course. For now the choices are few and far between. You know the answer. We have to stay the course and take our time to do everything right. I am proud that we have a strong team with the right mindset.

I read that late last night but too tired to make a blog post. That is big news. Smart bankers are beginning to realize that digital currency will be the money of the future and ready to invest big $$$ to participate.

I am very curious to know what percentage of Coinbase ownership the investors received for $75 million. If it is 10%, it mean that Coinbase is now valued at $750 million in market cap.  Quite impressive since this is a negotiated value with the involvement of professional investors.

Big money has been going after the Bitcoin ecosystem and Blockchain related technologies. There will be a strong demand for a stable currency like DNotes. We are still too small with a lot more to prove. In the meantime, hang on to your DNotes. When DNotes is finally discovered it could become quite precious quickly. I personally wish we would have a very large number already signed up for CR.I.S.Ps. when that happens, so that many more can share our success. That is one of the many reasons we decided to put all our CR.I.S.Ps. on the front burner.

It's meant to get you guys started. It needs editing, re-write, additions, etc.

Since DNotes is getting more attention, (more likely to be put under the microscope) it is prudent to start including some disclaimers. I know it sounds so foreign in the crypto world.

Week of Feb. 16, 2015 will be here before we know it. General discussion on CR.I.S.P. for retirement should continue for a couple more days. The next phrase is to nail down the main features, involving our Dev and his team.

While development kicks off, we need to work on a press release and start a pre-launch marketing campaign.

We have various options writing the press release: the project team can write it, I can write, or our PR team can write. We all will help out in some ways. Our project leader should decide and let me know with 2 weeks lead time.

One of my business philosophies is to lead, demonstrate, teach and encourage others to take ownership so that I have the time to engage new opportunities to help take DNotes to the next level. I am always available to work with anyone of you and appreciate your participation and support very much.

Quote from Dyna;
Jan 20, 2015-01-21

This is a very good discussion. Keep track of the key points and continue this discussion for a few days. I will be posting a general overview of CR.I.S.P. for Retirement late this evening or early tomorrow. One of our targets is small business owners. I believe the vast majority of their retirement accounts are seriously under funded.

DNotes will likely become very successful because we care about others who are struggling to make ends meet. That is quite a refreshing difference which will eventually be the driver of mass consumer and merchant adoption of DNotes. Let's make DNotes mutually useful and beneficial to all. It should not be about the pride of authorship but the sharing of a new era of opportunities so that we all can benefit from this greatest technology revolution since the internet.

*************************************
(This is just an unfinished draft to get things started.)

CR.I.S.P. For Retirement – A General Overview

CR.I.S.P. for Retirement is an unstructured and self-directed plan, using DNotes as the investment vehicle to supplement retirement savings. Re-occurring savings, in any amount, may be added at any time. This savings plan can be started with any amount of DNotes by opening an account at DNotesVault with an expanded registration at CR.I.S.P. for Retirement landing page.

DNotesVault is a web wallet for DNotes, available to all DNotes’ stakeholders, at no cost. All coins at DNotes Vault are guaranteed with a coin match program held in a separate cold storage wallet, in a different location. In the event that the DNotesVault is compromised and your coins have been stolen, 100% of your lost DNotes will be replaced through a guarantee fund with a verifiable balance always in excess of the total DNotesVault deposit.

DNotes is the most stable digital currency among over 500 coins in the cryptocurrency space. It has also been one of the best performers based on return on investment. $100 invested in DNotes in March 2014, when it was first traded was worth over $2,000 by the end of 2014. Although there are no assurances that the value of DNotes will continue to appreciate at the same rate, or significantly lower, there are reasonable expectations that being an early stage investment and its strong growth path, DNotes has the potential to deliver potential high rate of returns. High potential returns investments are typically associated with high risk. Do not invest more than you can afford to loose in case of a total loss.

Bitcoin and DNotes are among the leaders in the new digital currency industry expected to be the next greatest technology revolution since the internet. This is an early stage or ground investment opportunity often associated with high risk for potential high returns. Seasoned investors typically budget no more than 10% of their portfolio in their asset allocation for high risk investment. We strongly recommend that you consider doing the same. CR.I.S.P. for Retirement should only be funded as a supplemental savings vehicle to your overall retirement savings.

DNotesVault is just a secure web wallet to store your DNotes at no cost to its stakeholders. It does not buy, sell, or exchange any fiat currency, digital currency or any property.

Buying DNotes safely online may take some time if you're not already involved in cryptocurrency trading. Consider this process like setting up a brand new bank account, in that once you are setup, it is easy to use.......http://dnotesvault.com/dnotes.php  ..............

That must be really frustrating, TeeGee, especially when it's a long write-up you were excited to share with the community.

As usual your post tonight is very helpful. It's an eye opener.

Ended up watching "State of the Union" right now. Don't think I can do much till tomorrow.

This has been a great discussion. I am sure RJF is taking great notes. I just want to briefly expand on one point; the $value of the investment at the time of deposit. The value in DNotes and USD is captured to compute cumulative value, adjusted for any withdrawal giving us rich data sets to report performance for any given period. The individual can track the performance based on gain/loss for the period and total current value of the investment.

This will make even more sense when we have our own fully licensed and regulated exchange. Our challenge is to consistently out perform any other investments. We believe that we have a good shot at that. If we can consistently deliver stability and out performed other currencies, DNotes will become the preferred digital currency of choice for global commerce; hence “the digital currency of the future with lasting value.” Other currencies will be pegged to DNotes.

It will be a number of years before we have our exchange, bank and partner banks. At that point, it is conceivable that employees can sign up for regular payroll deduction directly invested in DNotes just like it is done today with other tax deferred investment. I trust that it will eventually be given the same tax deferred treatment like 401 K and IRA. Account holders can also link their bank account with the exchange and have personal checks cleared and credited almost instantly based on pre-approved limits.  

This is a very good discussion. Keep track of the key points and continue this discussion for a few days. I will be posting a general overview of CR.I.S.P. for Retirement late this evening or early tomorrow. One of our targets is small business owners. I believe the vast majority of their retirement accounts are seriously under funded.

DNotes will likely become very successful because we care about others who are struggling to make ends meet. That is quite a refreshing difference which will eventually be the driver of mass consumer and merchant adoption of DNotes. Let's make DNotes mutually useful and beneficial to all. It should not be about the pride of authorship but the sharing of a new era of opportunities so that we all can benefit from this greatest technology revolution since the internet.

Let me response briefly to the giveaway of DNotes brought up by TeeGee, RJF, and Chase. I agree that a fixed value of $20 or even $10 sounds much more appealing than a number of DNotes, such as 1,000 or 2,000. The truth of the matter is that with the anticipated large number of participants involving our family of 6 CR.I.S.Ps, we are not in the position to send even $10 or 1,000 DNotes to everyone who signed up. For all practical purposes, the amount of DNotes for general giveaway will drop to 100 DNotes or $1 based on today value sooner or later. One could argue that, given this consideration, 100 DNotes sounds more appealing than $1.

Bear in mind that all giveaways must be a limited time offer, possibly along with other qualifying factors.

Having said that, we may want to consider offering a limited time promotion for CR.I.S.P. for Retirement, expiring on Dec. 31, 2015.  Perhaps we can offer an automatic deposit of 100 DNotes for each qualified (we will have do define "qualified") plus 50 DNotes for every 1,000 DNotes saved, up 10,000 or a maximum of 500 DNotes. This could encourage participants to save a larger amount early when DNotes is relatively undervalued.

Those are some of the details we need to iron out. My suggestions should not be construed as final. We always value your suggestions and give them serious consideration.

It is always good to see you qiwoman2. Hope you and your family are all doing well. I admire the way you treasure small amount of coins collected from faucets and selling them for DNotes so that they can be added to your vault accounts. Amazing things can happen, when one has the consistent discipline to save even a small amount over a long period of time.

Let me tell you a true and personal story. It is especially fitting when we are on the subject of saving for retirement. I grew up in a very poor farm family in the northern part of the Borneo Island which is now part of East Malaysia. Very poor here means watching other kids in grade school eat a pack of plain cooked noodles that cost a few pennies, while I went without food for the whole day. An acceptable dinner was a bowl of plain rice with a scope of sugar and a cup of tea.

Growing up, I remember Mom making the sacrifice of giving up many basic necessities in life just to save a few pennies when she could. Those pennies gave her a good start. She later started raising pigs and sold a few every year, saving most of the money from the proceeds and accumulated enough to purchase a commercial building. She rented it out and collected rent till she passed away three years ago. She was confined to a wheelchair for over twenty years due to bad knees. Fortunately, the rental income was sufficient to pay for her care including a 24 hour live in care giver.

This is a true retirement story I personally witnessed. It gives me the inspiration to make our CR.I.S.P. a great success and CR.I.S.P. for retirement hugely beneficial for millions of people worldwide. Not having a sufficiently funded retirement savings is unfortunate. Let's help to change that for as many people as we can. There are hundreds of millions of people who need to refocus their retirement savings asset allocation. We strongly believe that DNotes is a viable option with high potential returns over the long term. Including DNotes as a small percentage (<10%) of the total asset allocation could make a significant difference.

Sharing is a great thing, especially giving some DNotes to your family and friends. We will continue to give away some DNotes but the amount is rapidly getting smaller as the value of DNotes continued to appreciate. 2,000 DNotes may not sound like much today but it likely to be of serious value a few years from now. Like everything else DNotes has been doing, our mode of operation is done in phases/stages. We are still at the stage when we have to convince others to accept DNotes as a gift. I trust that before the end of 2015 many will be asking you how they can invest in DNotes. That day may come sooner than we all dare expect. In the meantime, let us make sure that every CR.I.S.P. is launched flawlessly and all requests for support handled politely and promptly.

Unless we hear from our community differently, CR.I.S.P. for Retirement will launched the week of February 16, 2015, to be followed by CR.I.S.P. for Students a month later. Please share your suggestions and comments.

BREAKING NEWS!!!

DNotes is on Yahoo Finance again. Expect many more news outlets worldwide to follow.

Let us double our efforts on CR.I.S.P. With all that gloom and doom, here is where we can really make a difference.

It is unprecedented that the little guys like many of us willing to give a cup of fine coffee, saving the difference by switching to an off brand, could significantly improve their financial freedom through a self-directed, unstructured savings plan like CR.I.S.P. Being able to secure an ownership stake, no matter how small the investment, at this ground floor formative stage of IPO equivalent is unprecedented in the investment world.

YAHOO Finance:
Jan 19, 2015


Bitcoin Alternative DNotes Celebrates As One Of The First Long Term Alternative Cryptocurrencies
 

With savings plans and several innovative initiatives long term cryptocurrency DNotes continues to celebrate progress made in 2014 with scheduled roll-outs of many more Cryptocurrency Investment Savings Plans (CR.I.S.P) using newly launched DNotesVault.

ILLINOIS, USA / ACCESSWIRE / January 19, 2015 / Established US based cryptocurrency DNotes has had a productive year in the cryptocurrency space with a number of unique forward thinking projects. Led by co-founder, and early tech entrepreneur Alan Yong – with over 3 decades of experience in IT and the personal computer industry.

DNotes released several large scale projects in 2014, including the DNotes cryptocurrency itself, DNotes web wallet and long term coin storage platform DNotesVault with a 100% deposit guarantee, and cryptocurrency neutral platform CryptoMoms – dedicated to aiding women's participation in cryptocurrencies. CR.I.S.P for kids – the world's first Cryptocurrency Investment Savings Plans for Children was also released. DNotes is the first cryptocurrency to offer long term self-directed and unstructured digital currency savings plans. Additional digital currency savings plans, scheduled for roll-out over the next six months will be available for students, company employees, charities and anyone interested to supplement their retirement savings with DNotes.

DNotes is an open source decentralized peer-to-peer cryptocurrency that was launched in early 2014. Since launch DNotes has been credited as one of the industry's most stable digital currencies among over 500 coins listed on CoinMarketcap. There are currently seven mining pools for those who wish to mine DNotes and several reputable cryptocurrency exchanges for trading including PoloniEx, AllCoin, C-Cex and Comkort. The DNotes' homepage offers plenty of language options and downloads are available for Windows, Linux, and Mac.

DNotes launched web wallet DNotesVault.com with an unprecedented 100% deposit guarantee free of charge for all DNotes stakeholders. DNotesVault is a strategic instrument to stimulate the long term holding of DNotes. It offers a secure saving alternative that enables anyone worldwide to participate in saving cryptocurrency safely. It is easier to set up than a bank account and guarantees 100% of your deposit through a separate fully transparent cold storage account, secured in a different location, with an amount always in excess of the total deposit. The guaranteed funds can be verified at any time via the blockchain. Registering on DNotesVault is an effortless process. The user just enters an email address and password, agrees to the clearly stated terms and conditions and clicks submit. DNotesVault is also the first step in setting up DNotes long term saving plans which are a true rarity in the cryptocurrency space.

CryptoMoms is cryptocurrency neutral and a truly helpful platform dedicated to support, encourage and further the adoption of cryptocurrencies amongst women; as the cryptocurrency space is for the most part dominated by men. The website gives an excellent introduction to cryptocurrencies; how to store them, how to obtain cryptocurrencies, and everything needed to get started in the exciting emerging technology of crypto and digital currencies.

CryptoMoms is community driven and has a forum enabling women and men from all over the world to connect, and seek or offer cryptocurrency advice in a welcoming environment.

As a part of DNotes' plan for stable and long term adoption, the currency launched the first in a series no fees Cryptocurrency Investment Savings Plans (CR.I.S.P) during 2014. CR.I.S.P for children is a high reward program that can be initiated with a small investment. The DNotes team will award prizes in DNotes for the top wallets on the list, as well as some randomly chosen participants. DNotes' savings plans share the same 100% deposit guarantee as any other DNotesVault account. Setting up a saving plan for one or more children is an effortless process. The first step is to register using the DNotesVault account dashboard, make a DNotes deposit address for each child, choose nicknames and go to CryptoMoms.com to create an account. For a more detailed instructions please visit http://DNotesVault.com/crisp-for-kids.php.

Future Plans include expanding the CR.I.S.P. Family program to similar forward thinking and long term plans for students, retirees, charities and employees, providing a savings alternative with high potential long term returns. Spectators, DNotes adopters and cryptocurrency enthusiasts can expect another year with uniquely long term and progressive contributions to the digital currency ecosystem from DNotes.

For more information about DNotes cryptocurrency please visit: DNotescoin.com.

This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

For more information about us, please visit http://dnotesvault.com/.

Contact Info:
Name: Alan Yong
Email: Contact@dnotescoin.com
Organization: DNotes



SOURCE: DNotesVault

That is an excellent point, keemo. I have never thought of it that way. It is indeed quite unprecedented that at least during the early stage one has the opportunity to have an ownership stake even with micro investment. It is truly a ground floor opportunity, especially in the case of DNotes and CR.I.S.P. A few large whales are actually paying to give others the opportunity to get on the ground floor and have an ownership stake. I will expand on this another time.

Thanks for bringing this to our attention, mafort1469. This is indeed news to me. However, a $500,000 dump with daily trading volume as high as $100 million may not be the only reason why Bitcoin lost over 30% in the first two weeks of the year.

Read more:
https://www.cryptocoinsnews.com/bitcoin-ponzi-cryptodouble-disappears-least-2233-bitcoins/


CryptoDouble, a website founded on the promise of doubling its users’ deposits within 100 hours, ceased all its operations. At least 2233 BTC (about $500,000) have been cashed out on BTC-E, leaving thousands of customers out of pocket.

The service gained a significant popularity on Bitcointalk, where customers first testified about the service and its supposed effectiveness.

Despite several warnings from advanced Bitcoin users and previous Bitcoin Ponzi scams, a significant number of users have been attracted by the website’s promises and its investment possibilities. More than 200 different altcoins were featured in the investment opportunity list. Customers simply had to pick up an altcoin and then blindly send their funds to CryptoDouble wallets’ addresses, hoping for ulterior interest.

Unfortunately for these users, today the website went offline without any notice. The total prejudice is still unknown at the time of writing – several different crypto-currencies and blockchains were used in this swindle.

However, as indicated by the address a cryptodouble customer used to send funds to, the scammer stole at least 2233 bitcoins, and then sent the whole amount on BTC-e’s hot wallet to probably dump them.

While we don’t know yet the final scope of the disaster, the subsequent Bitcoin dumps are very likely to increase the current Bitcoin price plunge, in view of the significant sums involved.

The last two tweets sent from CryptoDouble, both on January 8, say:

There is highly coordinated and massive DDOS attack on CryptoDouble taking place right now. Our engineer handle it. Please allow some time. – Service is recovering now. We are still monitoring and analyzing the issue. All payouts will be processed shortly.

14/01/15 Update: A member of hashtalk is planning to launch a class-action lawsuit against CryptoDouble’s owner.

CCN will regularly update this story once additional information will be made available.

There has been much anxietiy and frustration in our industry so far this year. I found the following article somewhat entertaining and hope that you get a good laugh. Enjoy.

Fear & Greed: A Guide to Bitcoin Panic-Selling

by Alyssa Hertig @ 2015-01-16 03:56 PM
http://cointelegraph.com/
 

 
Bitcoin value in USD took a nosedive over the first couple weeks of 2015. The price dipped well under US$200 earlier this week but is back over that mark at the time of writing.

The catalyst is unclear, but many big events could have contributed to the spiraling price: Bitstamp's temporary closure, the pause on CEX.io cloud mining, and Russia's crusade against Bitcoin websites. Additionally, others noted that Ethereum has been selling off their bitcoins and there are also rumors swirling that investor giants have been selling off in the run up to the Winklevoss ETF IPO.

The typical narrative goes something like this: Investors panic as they watch the price drop, so the selling continues, and the price falls further.

But many Bitcoin advocates are unfazed. Rather, they're deriding people who buy high and sell low. A recent satirical Reddit thread titled “A Guide to Quitting Bitcoin” captures this sentiment perfectly:

Step 1: Panic Sell: Quickly go to your exchange of choice (preferably one located in a country other than your own) and sell all your bitcoin. Don't even risk owning the smallest fraction of a coin. If you really want to commit to quitting, do it right and sell everything.

Step 2: Seek Validation on Your Favorite Bitcoin Forum: It is simply not enough to sell all your bitcoin. To ensure that you later don't have a "change of heart," it is required that you announce your departure. Regular bitcoin users also like to see who is leaving, so it is important for you to tell them. You won't believe how much strangers on the Internet care!

Step 3: Make Sure You Know Your Talking Points: People leaving bitcoin need to have a reason why. Make sure you have one in your pocket especially during step 2. Please choose one of these: "Price Volatility", "Centralized Mining", "Fixed Supply".

Step 4: Enjoy the Freedom from Bitcoin Shackles.

Another user added another six steps to drive the point home. A few months later, Bitcoin isn't dead. Actually, it has soared in price. Awestruck, the investor buys at another peak. The price tumbles again. Then it would be only be natural to repeat the cycle returning to step one and sell in panic.

And sadly, this actually happens. Case and point, a Redditor posted Wednesday: “Just sold 25 bitcoins at a US$180, good luck with your “currency”, I'm out.” The user claimed to have purchased bitcoin at the US$1,100 price peak.

The author of the aforementioned guide responded: “Thank you for reading my guide.”

The nonchalant attitude might surprise. Bitcoin lost 40% of its value so far in 2015, yet Bitcoin advocates are laughing at the desperate sellers.

The thing is, many following the Bitcoin space have seen the currency “die” many times before—30 times now, in fact, according to the site Bitcoin Obituaries, which posts links to articles reporting Bitcoin's demise. Bitcoin has been known for its volatility, and these declarations were often made at a price trough.

Some are laughing. Some are defending. Andreas Antonopoulos, Bitcoin evangelist and host of the Let's Talk Bitcoin podcast, took to Twitter Wednesday:

http://cointelegraph.com/news/113312/fear-greed-a-guide-to-bitcoin-panic-selling

Sometimes there is a significant advantage not to be the first pioneer. Bitcoin is simply an incredibly advanced digital currency technology that has challenged the best of computer scientists for decades. Coupled with the blockchain technology it is destined to be the next greatest technology revolution since the internet. Personally I am a firm believer that it will be bigger, more disruptive and more widely beneficial than anything mankind has seen. Technology innovation never starts and ends as a perfect form. It always evolves and get better over time. Problems are identified and resolved with never ending potential for expanded applications. That is the technical side of the enterprise.

The human side of the enterprise can be just as challenging, especially in the case of Bitcoin. Being a huge technology breakthrough known to a very small population, it presented a tempting first mover advantage to exploit the opportunity for personal gain. When there were no comparables or historical records, human greed can always over-power reasonable mind. I believe that is what happened in the case Bitcoin when its price shot up from $200 on Nov. 1, 2013 to $1,200 in 30 days. Those are the most damaging 30 days in the history of Bitcoin. It created a culture of greed, get rich quick mentality, and the need for instant gratifications more pronounced than I have witnessed anywhere. Over time artificially inflated valuations are never sustainable. They are always corrected over time. Unfortunately, the inherent nature of human greed and fear when energized by herd mentality always lead to the extreme end of the spectrum. We all can agree now that at $1,200 Bitcoin was significantly overvalued. I will state with certainly that Bitcoin at $200 is undervalued.

Like it or not. What is bad for Bitcoin has proven to be just as bad for other coins. I share your pain and frustration. Meanwhile, remember this. What is good for Bitcoin will also be good for other cryptocurrencies. “A Rising tide lifts all boats”.

Let us hope that we have learned a good lesson. Rocketing price appreciation to the moon is a curse, not a blessing. It has caused irreparable damages to many of our industry peers. Let’s not wish for it, participate or encourage it but work hard together to earn sustainable value appreciation because of productive contributions we made to the value of our stakes. This is the fundament believe system of DNotes. It makes sense to us. We welcome you to join us and share our commitment to make a difference. A more respectful and constructive culture will certainly go a long way in our quest for mass adoption of digital currency.

Please share your prospectives, no matter how brief. Thank you.

Hi Varian65. We are always delighted to see new participant in DNotes forum and like to extent our warm welcome to you and hope that you will come back and visit us often.

We are quite familiar with SuperNET but do not have any immediate plan to join them.

We follow our strategic plans rather strictly based on an order of priorities which are reviewed and adjusted from time to time. Our focus over the next six months will be the launching of our family of CR.I.S.Ps. for retirement, students, employee benefits, and charity, along with other projects we are already involved in or currently working on.

DNotes is strongly committed to mainstream consumer and merchant adoption of digital currency. Having established a fairly strong foundation, we believe that it of great mutual benefits and strategic importance to expand our ownership stake while the valuation of DNotes is still relatively low. We all will be very proud and a lot happier if a very large number of people who are currently skeptical about digital currency or never heard of it became the next generation of converts because their experiences have been favorable and beneficial. A more positive cultural change will be one of the best drivers for mass consumer and merchant adoption.

We are strongly believed that digital currency and the blockchain technology is the greatest technology revolution since the internet. It is the future of money in the Digital Age we live in. There are no questions from our prospective that the technology will continue to evolve to become even more powerful and beneficial than we can envision today. Through both success and failure, weaknesses and problems will be identified and solved with ever increasing advancement in every segment. DNotes is respectful and supportive of all innovations that will make our industry stronger and better. We do set our bar high and take our time to do the right things. We are interested in potential partnership and joint projects, but we are very selective because of our strong long term commitment in everything we do.

It is 12:06 am in Chicago. I read TeeGee post twice but ran out enough brain power to post a response he deserves. I got an idea. Just re-post it in whole, since it will be better than what I can likely come up. It is certainly worth reading a few times over.

I do have a favorite part :"The coolest thing is that nobody owns it - not the government, not the bank, but the holders. This can not be said for any other money eco-system".

Quote from TeeGee:

I have some of my own thoughts to add about the bitcoin crash. For those who have time to read what I found to be a fascinating article on the Willy Bot and Markus Bot at Mt. Gox, you may do so here:

https://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

I have elucidated a rather pertinent extract that I agree with (I do not believe the entire article is factually proven, but provides a good theory to explain the 2013 rally):

"Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000’s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air (note that this is equivalent to “with depositors’ money”). It is only natural that the Bitcoin price would deflate for around 5 months since its December peak, since there was never enough fiat coming in to support these kind of prices in the first place."

We do not know what Bitcoin's real highest value ever was. What we can reasonably believe, is that the price was manipulated heavily by bot activity using liquidity that did not exist. This led to Mt Gox's downfall. I can not be absolutely certain who was behind such trading activity, but there are plenty of incentives that exist to continually pump the coin and then allow it to crash, whether those people be speculative traders, fraudsters, or players who have an interest in destroying Bitcoin by creating volatility. Working this out is not as important to the knowledge that when Bitcoin hit $1200, it was not its true value. We still do not know what the true high would have been because nobody was selling (because why would you put a sell ask up on the wall if you knew it was going to get eaten into anyway?) and this new BTC price low is a direct cause of:

1. A correction in the value of Bitcoin from an artificial pump,
2. Compounding fear of further loss from this fall. Many traders are trading on the technical graphs that include the artificial pump when btc should never have gotten so high anyway! This means traders are making trading decisions based on short and medium term graphs that have negative outlooks for a trader that works with technical analysis.

The views in the previous paragraph closely tie into DYNA's posts these last couple days about wishing to be able to 'defend' any DNotes appreciation at the exchanges, rather than pump and fall. The other key correlation is the herd mentality seen with people who are worried about the long term price correction from the artificial high that I made in my second point. Many traders still use long term (180 day +) charts, and traders who look at the same charts will tend to make similar trading decisions. Traders may be making decisions that have nothing to do with the true market demand for Bitcoin.

In terms of the current Bitcoin price (~200 USD at time of writing), one can argue that despite not knowing the true Bitcoin high, that high was likely FAR more than it was now. I think this low reflects a mixture of buyer confidence in Bitcoin as a store of value and speculative traders having their day.
I see ~200 dollar Bitcoins as the opportunity to buy a brand new Ferrari on sale for the price of a Volvo The prices at the exchanges will correct themselves soon when all the losing speculators jump out of the market.

My personal view is that one of the biggest problems with Bitcoin and crypto in general, is that too many people enter planning to swap back one day into their national currency having made millions. They are treating crypto like a speculative commodity, not a currency with reliable appreciation. These are the people who sell their Bitcoins at the first sign of trouble. These are the people who will miss out and live to regret it.

Currently mining is unprofitable for many (even CEX.io have closed cloud mining), which just leads to more dumping.


I personally see Bitcoin as having gone up from $100 to $200 over the last 2 years. The DNotes team have been wary from the outset that speculation and price volatility has ruined some of their competitors and hindered adoption. This is why they set out from the beginning to be the first stable crypto with long term appreciation. After almost one year the team is well on track to deliver the most attractive 1 year trend-line that has no downturns! Go find me another asset or currency that can net you ~2000% in a year? (had bitcoin stayed at 700-800 like it was at launch, this appreciation would be some 7000%, all without subsequent drops).

This following year will be very exciting for DNotes, Bitcoin and crypto in general. It will be the last year that a significant number of DNotes can be accumulated at a fairly cheap price. Bitcoin is much harder to speculate on, the technology and the coin is fine, just the price is not. We will have to wait to see how the market reacts to the VC raised this last year, and how the heavily skewed Bitcoin distribution to a select few affects market prices if they decide to sell.

I'll leave my final paragraph to my personal view of the true beauty of crypto-currency. The coolest thing is that nobody owns it - not the government, not the bank, but the holders. This can not be said for any other money eco-system. We are the guinea pigs of a decentralised, free-market experiment to highlight that we do not need masters to rule our lives and tell us what IS and what IS NOT money (or what money is legal and what is not). It is the first technology to put the monetary system back into the power of the people who use it, rather than the existing system where people are subject to the whim of the powers who control money, printing more when they want for themselves. The internet was created in 1994, but all the cool stuff like Google, Facebook and YouTube came much later. The advent of blockchain technology is so new, that we don't even know what the blockchain version of Google or Youtube is going to be. Whatever it is, they will pay their employees with DNotes. We own the crypto currencies we use OURSELVES, and we should respect them accordingly. This is going to be a long ride, this has also been a long post (I actually wrote more, but was worried it had become a bit critical of the US government in particular and decided not to post it out of respect for US citizens who may support various government actions. I think I'll write a whole blog on what I omitted...for those who are interested at a later date).

I had my first day back at work today for the year... told my boss I'd give her and her husband (IT guy) some DNotes... she seemed quite receptive while I explained away the advantages of crypto.

Bed time  [2:22am]. Look forward to hearing any thoughts in the morning (I'll compress it down maybe for a re-post later).

As sad as it may sound, there is no easy near term solution that is better than having to deal with the current realities and inconveniences. Most of us know what the ideal solution needs to be; decouple from being pegged to BTC and be able to accept any form of payment, anytime, anywhere in the world in exchange for their currency without the constraint of legal restrictions and crippling regulatory requirements, especially for the smaller players. This is just not going to happen any time soon.

DNotes is positioned to play by the rules; more likely anticipated reasonable rules, since there are so few that have been clearly spelled out. In the meantime, there will be a lot of hard work with a great deal of patience and tenacity to stay on the right path. Like it or not, Bitcoin will remain as the primary yard stick used in the conversion of fiat currency to digital currency and vice visas as a unit of value.