I have a very busy schedule today but feel that even a brief comment is in order. RJF has my high regards as a deeply informed investor in our industry.

“I really think the industry will survive and prosper, it's truly amazing tech and that means a lot for future value and acceptance.”

I am in total agreement with you. This is no longer a speculative technology or one that is still in a “proof of concept” stage. It is a proven technology. It will continue to evolve and get better. It is indeed our responsibility to help identify weaknesses in the system and be a positive contributor so that the industry will not only just survive but prosper.

Outstanding discussion from every participant. DNotes has reached a turn point. It is easy to track our path from the beginning of our journey. We are proud of what we have accomplished, yet what matters most is where we are going from here. Each and every comment is important to all of us as we review, renew, and revitalized all that we have done and what we need to do going forward from here.

Please continue the discussion. Thanks.

Bitcoin has lost over 80% of its value from its peak at around $1,200 it reached just a little over a year ago. The most recent drop of over 30% from $300 to $200 is quite definitely sucking a lot of energy out of our industry resulting in high anxiety and much worry. For whatever it's worth let me give you my take, hopefully it brings a little comfort.

I always look at things from a somewhat different prospective or, more accurately, from many different prospective, often using a system approach, allowing me to look closely at all the different components that are inter-connected to form the main system. In addition, I have found it helpful to utilize multi-discipline model; economic, financial, and behavioral model. I am not going to bore you with details. However, I will share two conclusions with you that may shade a little light, hopefully along with some comfort.

Herd mentality is a very powerful force in human behavior both negatively and positively. Herd mentality is always emotionally charged, spontaneous and never objective. It has a very high tendency to end in either extremely of the spectrum, with a period of adjustment once the dust settled. As much as Bitcoin was over-valued at $1,200, I am certain that it is under-valued at $200 due to herd mentality at play.

My second observation is a little more complex but explain why our industry has been spinning its wheels and difficult to establish an objective valuation. I often refer to the phenomena as “build and destroy”. In a highly productive environment, once a baseline is established, it is quite easy to account for incremental value added to the baseline. Using DNotes as an example, a productive and healthy growth path will constantly add value over a given period of time. This gives the planners the confidence to project a reliable long term value appreciation path. It is more in tune with a publicly traded company with solid fundamentals and healthy growth potential. The entity becomes more and more valuable over time.

Our industry in general has been both productive and destructive. As a group we “build and destroy”. We know for a fact that a lot of value has been added in just 2014 alone. Close to $400 million was invested by VCs (venture capital). Together with time and money from the rest of us along with all the new technologies and infrastructures added last year alone, our industry as a whole should be worth a lot more today than it was a year ago. It probably should be, and hence undervalued. However, here is the problem. Our industry has also been rather destructive and that negative value is nearly impossible to account for. One can argue that this holds true with every industry at its formative stage. That is true, but never to this extreme.

Personally, I believe that there are many great people in our industry, including a lot of very smart individuals.  We all have our strengths and weaknesses. It may be time for more of us to come together and be much more productive this year than 2014. This is our invitation to others who share our values and vision that as much as this technology revolution, we are already a part of, may be disruptive, but it does not have to be destructive. That will be the best for our generation and many more to come. It is with such inspiration and vision that DNotes core mission is founded.

That is a valid point. Let us wait for more comments.

It is beginning to show up in many more sites. This typically takes a few days to full populate the global news network.

DNotes near term focus is to launch our whole family of CR.I.S.Ps. by June 30, 2015, amounting to a new CR.I.S.P. being rolled out each month. Every launch will be supported with a full press release.

The next launch is a choice between CR.I.S.P. for Retirement, headed by RJF, or CR.I.S.P. for Students, headed by TeeGee. We are inviting your comments and participation if you are interested. Thanks.

Breaking News:


Bitcoin Alternative DNotes Celebrates World’s First Long Term Alternative Cryptocurrency

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.

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://ift.tt/1DAedKa.

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

For more information about DNotesVault please visit: DNotesVault

For more information about DNotes saving plans for kids visit: http://ift.tt/1DAedKa

For more information about Crypto Moms please go to: CryptoMoms.com

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

Media contact:
Name: Alan Yong
Organization: DNotesVault
Email: Contact@DNotescoin.com


http://btc-news-bot.tumblr.com/post/108219179376/bitcoin-alternative-dnotes-celebrates-worlds

Hi TeeGee. I am very busy at this time, but just want to post a quick comment on "register" with regulatory authoritiy, in the case of US; The registration process should not take more than 30 minutes and there is no fees/cost. The huge burden is post registration requirements in terms of reporting requirements. Your related question involves a more complicated answer. I am taking a pass.

Your comments on charity fundraising is grand but very impressive. I have some grand ideas too that could revolutionize future charity fundraising using DNotes. Just wish my brains can function better beyond a 12 hours day.

Our industry needs to consolidate and be more constructive in delivering real benefits to consumers instead of hurting them by ripping off people’s meager earnings. Giving the industry a honey moon period of five years to help promote mass adoption of digital currency will be a huge impetus of much needed growth in the world economy. This does not mean that they should not go after the few bad actors. Regulations should not stifle innovations that are drivers of technology revolutions vital to mankind striving for a better livelihood while migrating to a more efficient and more cost effective system. Blocking progress in the name of consumer protection, while hindering their opportunities to achieve a better living standard, is not constructive.

I wished FinCEN's published regulatory guidiance is consistent with the IRS published opinion. It often presents a problem when regulations and laws are "not settled". Legal challenges are very disruptive. We do not want to take a change and rather remained on the more conservative side.

RJF, that is a great idea, especially a year ago, in places where there are no consumer laws against such transctions. I would not be surprised if that is totally legal in many courtries. We will certainly be interested to take a closer look.

Chase, I wish it can be done legally. That will be a dream come true.

May be I should leave this legal opinion to a lawyer. My limited understanding of the legal concept, at least in the United States, is that one or two parties involved in the process of exchanging fait to gift card; to Bitcoin; to DNotes must be registered with FinCEN and meet all their auditing and reporting requirements. In addition, the parties must be licensed in every state where the buyer or seller resides.

My layperson opinion is that FinCEN will rule, in the case as described, that the parties involved are money transmitters under BSA (Bank Secrecy Act) and must comply with all risk management, record keeping and reporting.

I know that this is a frustrating issue until there is a more convenience option. Unfortunately, until then, we must officially continue to recommend purchasing Bitcoin and DNotes through the proper channels, such as starting with Coinbase.

If legal constraint is not the issue, then there is no reason not to sell the gift as convertible to DNotes using the same process. I know that many crypto currencies claimed that they offer gift cards, credit/debit cards using their coins. I suspect, if indeed that is true, there could be serious consequences.

It is a good local solution that will become more and more popular, especially in developing countries, where the under-served and unbanked populations are at the highest.

It is important for us to keep in mind that technologies and systems to deploy them are always evolving for the better, and it is not essential for DNotes to build every component, everywhere, as part of the ecosystem to support DNotes.

The ecosystem can best be viewed as independent business opportunities. Once DNotes has the scale, entrepreneur around the world will realize that there are potentially attractive business opportunities, they will start helping themselves. I fully expect that many who are currently invested in the Bitcoin camp will eventually consider joining DNotes ecosystem. That is the beauty of the capitalistic system. They follow the opportunities where there is money to be made.

The following blog post is worth reading. Brookings Institution is my one of favorite public policy nonprofit think-tanks. I wish regulators will be as gentle and hands-off as they had been with the internet for over two decades. Even just granting a "honey" period till 2020 will be enormously helpful. I am concerned that it will not likely to be the case because too many investors have been hurt by a relatively small number of bad actors.

Brookings Institution:

 ‘Innovations in the Blockchain Will Outpace Policy, Let’s Not Slow it Down’

by Alyssa Hertig @ 2015-01-14 03:59 PM

http://cointelegraph.com/news/113300/brookings-institution-innovations-in-the-blockchain-will-outpace-policy-lets-not-slow-it-down

 
Tuesday, the Brookings Institution slipped in a blog post that compared Bitcoin to the Internet.
Mohit Kaushal, partner at Aberdare Ventures, and entrepreneur Sheel Tyle explained what the blockchain is and why it could important in a post for the TechTank blog. We've seen plenty of experts describing why the protocol underpinning the Bitcoin network could have many uses, but this one makes some interesting claims.

The conclusion is arguably the most interesting section of the post—especially considering the Brookings Institution is one of the oldest and among the most-respected public policy nonprofit think-tanks based on Embassy Row in Washington D.C. It reads:

“And much like the Internet in the late 1990s, we don’t know exactly how the Blockchain will evolve, but evolve it will.”

The institute warns against regulating the blockchain like a financial instrument. Belaboring the Internet comparison, they note that the backbone of the Internet, TCP/IP, was never regulated, even though it allowed for new financial instruments. The post continues:

“Had we over-regulated the Internet early on, we would have missed out on many innovations that we can’t imagine living without today. The same is true for the Blockchain. Disruptive technologies rarely fit neatly into existing regulatory considerations, but rigid regulatory frameworks have repeatedly stifled innovation. It’s likely that innovations in the Blockchain will outpace policy, let’s not slow it down.”

The Brookings Institution is a nonpartisan, American-centric think tank that focuses on economic issues. The nonprofit broadcasts a range of opinions, although it has often been deemed as liberal-leaning

Not too sure about that. Perhaps it takes a lot more than just a few "drunk" Bitcoin owners.  The sell volume has gone up significantly, around $100 million over the last 24 hours. Testing $150 would surprise me. I believe that there will be a lot of buyers at $160.

We are happy for you that you finally have a chance to spend time with your son after 7 years. Keep those DNotes for the long term. It could end up to be a meaningful part of his retirement savings.

We are looking forward to a very good year. It will be nice, if one day, we earned the honor of other cryptocurrencies peg to DNotes for stability sake. That will be the day when we can truly be proud that we have done our job. In the mean time, it is unfortunate that every time when Bitcoin takes a tumble, many ended up with bruises.

Thanks, elrugrim. Hopefully, DNotes will help bring back a ray of sunshine when the article reached the news media over the next few days.

It is a rough day for our industry. This should re-enforce why DNotes has been doing things so differently.

Breaking News:

We have just approved a write-up about DNotes accomplishments in 2014 for immediate release. It normally takes 24 hours to effect distribution to about 40,000 news outlets worldwide.

Please report and post early sightings:


Bitcoin Alternative DNotes Celebrates World's First Long Term Cryptocurrency 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.........

I assume that TeeGee is using certain assumptions on behalf of our CR.I.S.P. for Kids generation. If we project that far in the future, those assumptions may not be that far out. Global commerce is conducted in a very large scale. Digital currency and the blockchain technologies will lead to a global system in more ways than one. Just being one of the major players in twenty years from now will make TeeGee’s number quite conservative. If his assumptions come anywhere close, RJF and I will be labeled as the conservative “old guys” by our children and grand children. But then we will have a lot of happy CR.I.S.P. owners. So that may not be so bad.

Thanks, Chase. That is exactly correct. Let us just consider USA alone. Registrating with FinCEN may not take more the 30 minutes. Meeting their reporting and other regulatory requirements could cost close to DNotes Market Cap in just one year. Registration with all but two states takes years and another small fortune. My sense is that an exchange like Coinbase spends $ millions in meeting regulatory requirements per year.

We are looking at diffenent options. However, don't expect a simple solution any time soon. In a few years from now, we could have various ideal solutions, given a more favorable regulatory environment.

That is not yet our target, but it does not mean that we ruled out the potential. An integral part of our business model is "advance and defend". This is almost foreign to our industry, with a preference to a fast and furious trip to the moon only to coming crushing down. We do not support an inflated price that we can not defend.

We consider steep appreciation not supported by fundamental values negative and not in the best interest of our long term stakeholders. We believe in doing all the right things and let the price of DNotes takes care of itself.