Legalities aside, the thing I like about cryptocurrencies in general and to some extent applicable to ICOs is the much lower entry barrier for those of modest means to invest in something that very well could improve their financial lives in a way that wouldn't be possible otherwise.
If I only have $100 to invest, I can buy an undervalued cryptocurrency and maybe I'll end up sitting on something worth $10,000 or more. Cryptocurrencies basically make investments fungible enough for poor people to participate. $100 too much for you? You can also just invest $10 or $5. Remember in the early days of CryptoMoms when we were encouraging each other to give up your Starbucks Latte and use the money you save to buy DNotes? Well, with DNotes and some other coins, that kind of small investment really could make a big difference.
So when I hear about the SEC cracking down more on ICOs and other things related to cryptocurrency I worry that this door for poor people might get slammed shut. I hope that doesn't happen, and I'm grateful that this door was open for me.
That said, I also believe that people and entities promoting investments need to be honest about what they are promoting. Many ICOs have been shady and those poor people who have little or those middle class people who give up their weekly lattes at the very least deserve to know that what they are putting their money into has every reasonable chance of being successful (though one can never guarantee such things). There should be some protection from charlatans running ICOs that do nothing but scam people out of their money--at least in the form of full disclosure about fundamentals so that an informed investor of any social or economic class can make a good decision.
I just hope that the protection afforded investors does not also make it more difficult or impossible for people to participate. For example, I really hate how so many investments in the US are only available to accredited investors. You can invest in this wonderful promising startup and possibly get rich. Oh wait. You already have to be rich in order to get the chance.
I hope we can maintain the fungibility of cryptocurrencies and ICOs where investors can buy any amount, no amount too small, while still building in some reasonable standards of solid fundamentals that those seeking to raise funds for their ventures have to follow.
At the end of the day, though, the responsibility to spend one's own money wisely has to lie with each one of us, regardless of how much we have. There's only so much regulation can do to save us from our own poor financial choices without becoming overly burdensome. I wonder if it wouldn't be a better use of national resources if more funds weren't put towards the proper financial education of children (and adults) instead of towards trying to overregulate entrepreneurs who want to raise funds in the easiest way possible. If the majority of the population were properly educated on financial matters, wouldn't that in and of itself make it more difficult for the charlatans to raise funds?
Wiser, I agree with you that “much lower entry barrier for those of modest means to invest in something that very well could improve their financial lives in a way that wouldn't be possible otherwise” is a wonderful thing made possible in our industry. However, that fact remains that it is possible with or without ICOs. For example, once an account is set up, anyone can invest $5 in DNotes - $1 today will buy you 20 DNotes. Of course, once it is discovered and fully valued the potential for appreciation is reduced. The SEC has a mandate to promote capital formation. It promotes various legal crowdfunding platforms such as CF (crowdfunding) Reg. D - 506 (c), Reg. A+ Mini-IPO and others. I bet if our law makers can figure how to make the sale of ICO legal, SEC will promote it as a tool for capital formation. Furthermore, it is important for us to understand that the required registration is their means of getting full disclosure and continued reporting information so that the consumers can make informed investment decision. |
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Why Reg. A+ Mini-IPO Title IV Tier 2 verse ICO?
Unfortunately, ICOs are still going on at a fast pace, despite being warned by the SEC that they are securities and cannot be sold legally without being registered or exempt with the SEC.
From my prospective, with out a doubt, there are no known ICO tokens sold that can be correctly characterized as a “utility token”. As SEC Chairman Jay Clayton pointed out recently, “Merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security. Tokens and offerings that incorporate features and marketing efforts that emphasize the potential for profits based on the entrepreneurial or managerial efforts of others continue to contain the hallmarks of a security under U.S. law.”
What is most troubling is when he added that, “Investors should understand that to date no initial coin offerings have been registered with the SEC.”
The author of the article below raised an interest point, “Regardless, none of this has left token issuers with much in the way of defined guidelines on how to conduct a legally compliant ICO.”
That is correct, unless our law makers change the existing security laws on the book to accommodate the brave emerging decentralized world there are no provisions to conduct ICO efficiently and legally.
I understand that it is very frustrating, as ICOs can be an amazing contributor to capital formation. Granted that being the case, it is still a bad idea to engage in ICOs that are clearly deemed illegal unless registered or exempt with the SEC. This could end badly. I fear that this is the greatest risk confronting our industry.
What is DNotes doing differently? A lot, in almost every respect. But for now, let us focus on an alternative to ICO and do it legally.
For those who are new to our industry, it is helpful to understand that the tokens (coins) sold in ICOs are created or issued by leaderless decentralized entities not controlled by any individual, or group of individuals.
Real world entities in the form of incorporated companies, LLC, LLP, and proprietorship or others forms of ownerships are created with a purported mission of advancing the coins’ projects outlined in their “white papers”. Coins are pre-mined and sold, bring in millions of dollars (in some cases hundreds of millions of dollars). They now belong to the entities mentioned earlier. These entities have full discretion to use the funds, often with no limitation, transparency, or accountability. That should not come as a surprise as the “investors” have been advised that they do not have any ownership or voting rights in the entity that received the funds. It would be less confusing if those entities are registered as “charities” and the investment labeled as “donations”.
I wish that ICOs can be structured and conducted in manners that meet existing security laws, either through registration or exemption. Unfortunately, without significant changes to existing laws, it is simply not possible. To date, the issuers of ICO tokens are exclusively decentralized entities without any central authority. However, the money collected goes to individuals, partnership or incorporated companies purportedly are working on some great ideas presented in a white paper. The investors have no ownership or voting rights in the private entity that received the investment.
Other than consumer or investor protection, the SEC plays a key role to maintain a fair, orderly and efficient market. It is also given the mandate by our law makers to facilitate capital formation. To that extent, our government has an invested interest in capital formation that leads to job and wealth creation. There are distinct options of raising funds by selling securities in support of the token or coin legally as mentioned in the article. In the case of DNotes, we believe that Reg. A+ Mini-IPO Title IV Tier 2 is the ideal option for us. And we have been planning for it for over two years using an incorporated company, DNotes Global, Inc.
To protect consumers the SEC, requires the filing of a registration statement with full disclosure of all relevant information along with two years audited financial statements - subject to on-going reporting as the means of making available all information for investors to make an informed investment decision. We believe that as much as this is burdensome, it is also essential to protect investors.
Great breakdown of this issue, thanks for updating us. Since the first ICO was issued in 2013, relatively little has changed in the way the majority of the operate, aside from becoming sleeker, increasingly sophisticated, and more readily deployable through ICO facilitators like Ethereum. A few questions on this matter, everyone feel free to chime in: 1) What sort of protections is a corporation legally required offer investors that LLC, LLP, and others don't? Do you think these easy to attain forms of ownership are being employed strictly for appearance of legitimacy, even when unnecessary? 2) What is the difference between owning a cryptocurrency, and buying into an ICO in terms of ownership rights? If you had to apply it to existing legal framework, how would the law view the distinction? 3) Are US investors who buy into unregistered ICO's committing a crime in the US, or does ownness fall solely on the issuer? For full disclosure, I am not an attorney but just someone who has been an entrepreneur for a long time and familiar with some of the legal concepts. Regarding your first question: “1) What sort of protections is a corporation legally required to offer investors that LLC, LLP, and others don't? Do you think these easy to attain forms of ownership are being employed strictly for appearance of legitimacy, even when unnecessary?”They all offer their investors some level of protection to the extent of the entity’s total asset. To that extent, it shields the owners with limited liabilities. You cannot lose more than your entire company, LLC, LLP or other registered legal ownership with limited liabilities. They all have advantages and disadvantages – each more suitable in certain situations than others. They protect you and your investors and as such legitimate and necessary. In the case of DNotes Global, Inc. we have the company incorporated in the State of Delaware, and registered to do business in the State of Illinois, as our corporate Headquarters. Additionally, it is incorporated as a “C” corporation – with virtually no limit in the number of stakeholders we can have. This is extremely important in our case. We eventually could have a full-blown IPO attracting a very large number of shareholders worldwide. "2) What is the difference between owning a cryptocurrency, and buying into an ICO in terms of ownership rights? If you had to apply it to existing legal framework, how would the law view the distinction? Would it be fair to make the (overly dramatic) comparison that this is like owning your home outright, vs having to pay the mortgage on an incomplete home?"This is a tough one to answer, Brandon. Technologies often get ahead of regulations. If there is a legal challenge regarding ownership right, the final court ruling will set a precedent for others to follow. When you buy 1000 DNotes from Cryptopia Exchange no one else but the owner of that 1000 DNotes received the proceeds from that sale. If the 1000 DNotes was sold in an ICO that proceeds would end up in another entity. Yet they all could end up being traded on the same exchange. The first case is an exchange in kind (DNotes for Bitcoin). The second case meets the hallmark of selling a security under U.S. law. (DNotes for US$). And that is illegal unless registered or exempt with the SEC. "3) Are US investors who buy into unregistered ICO's committing a crime in the US, or does ownness fall solely on the issuer?"One of the SEC mandates is consumers/investors protection. That is the reason that the SEC has been warning the consumers to be very careful when investing in ICOs. I personally don’t believe that they will go after the investors. Technically, they are the victims. But, when and if, the SEC go after the issuers of ICO tokens, it will probable cause serious loses to investors’ asset value; depending on the enforcement remedies used. An extreme case of a cease and decease order with return of all funds could be very damaging. |
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Why Reg. A+ Mini-IPO Title IV Tier 2 verse ICO?Unfortunately, ICOs are still going on at a fast pace, despite being warned by the SEC that they are securities and cannot be sold legally without being registered or exempt with the SEC. From my prospective, with out a doubt, there are no known ICO tokens sold that can be correctly characterized as a “utility token”. As SEC Chairman Jay Clayton pointed out recently, “Merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security. Tokens and offerings that incorporate features and marketing efforts that emphasize the potential for profits based on the entrepreneurial or managerial efforts of others continue to contain the hallmarks of a security under U.S. law.” What is most troubling is when he added that, “Investors should understand that to date no initial coin offerings have been registered with the SEC.” The author of the article below raised an interest point, “ Regardless, none of this has left token issuers with much in the way of defined guidelines on how to conduct a legally compliant ICO.” That is correct, unless our law makers change the existing security laws on the book to accommodate the brave emerging decentralized world there are no provisions to conduct ICO efficiently and legally. I understand that it is very frustrating, as ICOs can be an amazing contributor to capital formation. Granted that being the case, it is still a bad idea to engage in ICOs that are clearly deemed illegal unless registered or exempt with the SEC. This could end badly. I fear that this is the greatest risk confronting our industry. What is DNotes doing differently? A lot, in almost every respect. But for now, let us focus on an alternative to ICO and do it legally. For those who are new to our industry, it is helpful to understand that the tokens (coins) sold in ICOs are created or issued by leaderless decentralized entities not controlled by any individual, or group of individuals. Real world entities in the form of incorporated companies, LLC, LLP, and proprietorship or others forms of ownerships are created with a purported mission of advancing the coins’ projects outlined in their “white papers”. Coins are pre-mined and sold, bring in millions of dollars (in some cases hundreds of millions of dollars). They now belong to the entities mentioned earlier. These entities have full discretion to use the funds, often with no limitation, transparency, or accountability. That should not come as a surprise as the “investors” have been advised that they do not have any ownership or voting rights in the entity that received the funds. It would be less confusing if those entities are registered as “charities” and the investment labeled as “donations”. I wish that ICOs can be structured and conducted in manners that meet existing security laws, either through registration or exemption. Unfortunately, without significant changes to existing laws, it is simply not possible. To date, the issuers of ICO tokens are exclusively decentralized entities without any central authority. However, the money collected goes to individuals, partnership or incorporated companies purportedly are working on some great ideas presented in a white paper. The investors have no ownership or voting rights in the private entity that received the investment. Other than consumer or investor protection, the SEC plays a key role to maintain a fair, orderly and efficient market. It is also given the mandate by our law makers to facilitate capital formation. To that extent, our government has an invested interest in capital formation that leads to job and wealth creation. There are distinct options of raising funds by selling securities in support of the token or coin legally as mentioned in the article. In the case of DNotes, we believe that Reg. A+ Mini-IPO Title IV Tier 2 is the ideal option for us. And we have been planning for it for over two years using an incorporated company, DNotes Global, Inc. To protect consumers the SEC, requires the filing of a registration statement with full disclosure of all relevant information along with two years audited financial statements - subject to on-going reporting as the means of making available all information for investors to make an informed investment decision. We believe that as much as this is burdensome, it is also essential to protect investors. Enjoy the article below and feel free to ask any questions. ICOs are STILL Not Taking Compliance Seriously in Search for Big MoneyThe initial coin offering (or ICO) explosion accelerated by Ethereum smart contract technology has resulted in over $3 billion in raised capital in 2017 and garnered the attention of governments worldwide. The US Securities and Exchange Commission (SEC) has taken note. In their statement on the DAO, which was an ICO that raised $117 million, the SEC stated that the sale constituted an offering of a security by applying the “Howey Test”. Since then, the SEC has increased its attention on these sales and last week SEC Chairman Jay Clayton issued a statement urging investors to be cautious and issuers to analyze the offering under applicable securities laws. Regardless, none of this has left token issuers with much in the way of defined guidelines on how to conduct a legally compliant ICO. Although the CFTC has stated that it believes most tokens to constitute commodities, the SEC has indicated that they believe token sales generally fit into two categories: utility tokens, and security tokens. However, in Chairman Clayton’s opinion, most, if not all token sales are actually securities offerings. To date, most token sales have been done without regards to securities laws under the guise that the token is not a security, but rather a utility token, that has a specific use and functionality within the offerers network and ecosystem. However, although this theoretically does exist, to fall within this category, the token must meet a number of loosely defined characteristics. The token must have an immediate use within the issuer’s network and cannot be sold with a future utility in mind. The token should be purchased for the purpose of using that utility and not for speculation. The value of the utility and its potential for increase in value cannot be the primary motivator and its value should not depend on the work of others to grow. Many issuers and their counsel are applying the Howey Test, which is a test developed for investment contracts. But this is not the only way that regulators could analyze these offerings. Read more: https://www.crowdfundinsider.com/2017/12/126395-icos-still-not-taking-compliance-seriously-search-big-money/
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Thank you, TeeGee. We deeply appreciate your immense contributions to the success of DNotes. We have been working very hard for the last four years doing things that are of great long-term strategic value to making DNotes' vision a reality, though what we have done have contributed little to the market price of DNotes. Our believe is to always do the right thing and let the market price takes care of itself.
The market seems to be taking care of itself alright. I kinda hope it doesn't move up too quickly as I'm still in buying/accumulation mode  Sometimes, that is what I wish too. In my case, I wish millions of small investors can have the opportunity to own some DNotes when it is still quite affordable. |
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Hey everyone, I hope everybody has had a great Christmas with their family and friends. It seems the markets have also been busy at this time, and the press release was very welcome news as we move forward into the new year.
BTCwise, I have indeed a 95% completed video that I hope will have the finishing touches on it completed within the next week or two, when I'm able to re-record a couple of audio segments for it. Thus far the animations are very impressive, and a lot of time (3 weeks full time work) was spent on the animations alone by the animator. I also have several other video projects that are queued up, one of which will be to promote the IPO. That video will need to be to the highest quality possible, and I expect will take a lot of time and effort to get to the DNotes standard.
There is also a whitepaper that my colleagues have indicated is approximately 85-90% complete. I completed writing the bulk of it a few months ago, but we chose not to release it until we made our decision regarding the direction of our IPO, where the necessary changes could be made. The whitepaper is approximately 20 pages, and should be around 6 thousand words when it is released. We really want to nail these videos, and the whitepaper, to best communicate to potential investors what DNotes currency, and DNotes Global are all about.
A lot of work has gone into the above two projects, which we have briefly mentioned in passing previously in the forum. But as with all things we do, we do them at the most opportune time, which for us made sense nearer the time of the IPO. We are also working together at this time on our investor pitch -- so there should be many more exciting releases going into the new year in lieu of our mini-IPO, where we will be seeking up to 50 million dollars via Reg A+ crowdfunding.
Be sure to check in on the forum, and follow our facebook pages for updates, and look out for updates in the mainstream media about us going forward.
Thank you, TeeGee. We deeply appreciate your immense contributions to the success of DNotes. We have been working very hard for the last four years doing things that are of great long-term strategic value to making DNotes' vision a reality, though what we have done have contributed little to the market price of DNotes. Our believe is to always do the right thing and let the market price takes care of itself. |
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Very solid news.
It's back to looking up at the DNotes ecosystem..
Thank you, zecon. All of our ecosystems have been put in place as strategic building blocks. When we are ready to scale we can do it quickly with a foundation already built. We are very long-term oriented but very strategic in everything we do. DNotes will be the rising start in 2018. |
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Thank you for sharing, TOM47. I encourage everyone to help get the words out. We are taking DNotes to the next level. |
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Hi!
Is POS now working? Where can I find info about that?
Thanks!
Hi malvino. DNotes is still a mineable Proof of Work (PoW) coin but will not be for too much longer. We are migrating to Proof of Stake (PoS) in the 1st quarter of 2018. Our efforts are now joined by a large team - Geneca, with a drastically increased development budget. This is a very large scale multi-year project at a substantial investment in the millions of dollars. As I have said before, DNotes will be a technology leader in our industry. We are a very committed team with the mindset that to succeed in any business one must commit to "be equal to and better than the competitors." |
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DNotes Global, Inc. Announces Partnership with Geneca for Blockchain Technology Development“We have been searching for the best possible firm to expand our development team for DNotes 2.0 and beyond, and we are proud to announce we have acquired the services of Geneca. Geneca shares both our business philosophy and our vision for making DNotes a technology leader, making them the ideal partner for our rapid expansion plans.”That is right. Though our efforts intensified recently, we have spent the last two years looking at hundreds of potential software development firms. We never came across any we ranked above an “A-“ grade. Geneca is our perfect “A+” They are exceptional and will go a long way in our success. The timing is perfect too.
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I don't know whether someone has posted this or not, so ignore this if it is old news. The infrastructure at Bittrex wasn't capable of handling the rapid scaling of an onslaught of new users and had to shut down new account registrations (until further notice). My guess is that a lot of the exchanges are likely in the same boat. New Account Sign Ups
December 15, 2017 10:21
Dear new users:
We have received an enormous number of new account registrations over the past few weeks. We are excited to have so many new users who want to join the Bittrex community. Unfortunately, we have to make a few upgrades to our support and backend systems to handle the increased traffic and load. As such, we have halted new user registrations for the time being. If you already have an account on Bittrex, you will not be affected by this change. Please continue to the log in as you normally do.
To our new users, we will keep you posted on when we open up registration. We apologize for the inconvenience!
The Bittrex Teamhttps://support.bittrex.com/hc/en-us/articles/115003463331I really respect what Bittrex did here. They had the choice of increasing their current customer base by accepting new applications, or they could maintain the quality of service for their existing customer base and accept the fact that this will mean turning away new customers. They chose to put existing customers first and maintain their quality of service. I'd like to think that those who were turned away due to peak loads recognise the commitment to their customers that was demonstrated and come back to Bittrex when they've scaled up. This is the sort of long-term vision that I see in DNotes Global Inc. and if these sorts of attitudes are embedded into the DNotes exchange, they will do well. I understand that the exchange is much further down the road map, but I'm sure that they're watching what both good and bad actors do, and learning from everything so that the DNotes exchange will benefit from this industry experience. It is very demanding and costly to build a top notch exchange. We are committed to build our own and do it right. It will cost $ millions and may take a little longer. But that is a vital component of our fully integrated system. If I have my way, we will have the best customer services - something annoying lacking in our industry.
I also agree with what wiser has to say about customer support: Good customer service is an absolute necessity, but tough to keep up with when you're growing rapidly. I think you have to over-hire tech support reps and consider it good when at times some of them are standing around doing nothing.
The great thing about the current labour market is that it is now so very easy to maintain a dormant workforce and outsource during peak times. The trick is already having in place a system for sorting and allocating tasks to the appropriate skill level. But even that can be largely automated now. As for insightful comment by R-J-F recognising the value of moving with the times and trying things now even though they failed before: In the new paradigm, if it didn't work yesterday, chances are it will tomorrow and that brings up the elephant in the room, accepting change as a good thing and making the most of it. Those who can do that will not only survive but thrive. Embrace new ideas and technology or perish. But above all else, don't be afraid to try a new way of doing things, it just might work better than you expect.
I'd like to plug that directly into R-J-F's later comment: "I can't help thinking what things might have been if we had less engineers and more marketing people who understood the customer relationship and the need for a live voice at the other end of the phone. " And suggest that with AI doing a great job of sorting types of issues and getting better at suggesting tech support responses, that some blended solution might soon be the most efficient way of meeting sudden peaks in customer support demands. But whether it is security, or the voice of customer support, I believe the best way to approach all business decisions is remain focused on the desired outcome. Is it the voice they need to hear, or is it being able to instantly get the exact solution to their particular needs? Is top level security what is required, or do customers really just want to never lose their investment? DNotes Vault having access to matching funds is an example of thinking outside the box when determining security solutions that ensure customers will never lose. And if they continue with this outcome-focused approach when designing their exchange, it could really bring meeting customer needs to a whole new level. " I believe the best way to approach all business decisions is remain focused on the desired outcome." Tim, you are correct. DNotes is result and vision oriented. We have a clearly articulated a vision of building a trusted digital currency that is accessible for everyone worldwide to participate. To realize that vision there many goal oriented missions. They are all time and outcome oriented, and as quantifiable as possible - when to do what, in order to achieve "?" by a certain date. We study, strategize, plan, and execute; mindful that success in business is the result of “doing the right thing, the right way, at the right time.” This is consistent with everything that we do. Perhaps DNotes will be a great case study for business schools one day. Meanwhile, I hope that many entrepreneurs can learn from us. |
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Bob,
Certainly. I will be there in May though there will not be as much the see. Daylilies start blooming in mid June with peak bloom in July. Also the new house will be still under construction in May and completed in June. However, I will be delighted to see you again anytime.
Merry Christmas to you and your family!
Alan
I'm sure Alan knows a lot more about the function of phytochrome in its role affecting circadian rhythms and the blooming of daylilies, but a quick search on the Internet seems to indicate that shortening the nights early with artificial light would work on this species, and give Bob a much better display when he arrives. Sure it would take some electricity, but less then a bitcoin mine requires. Very funny, Tim. If you can join us too, I can make a special dish of daylily with circadian. LOL! Merry Christmas! |
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Hi cryptokrazy, would you be able to share any tutorials on how to mine DNotes? I would like to get involved with mining but I'm not sure how or where to start. I'm sure it will be profitable to mine DNotes if the price continues on uptrend. Thank you in advance Not really sure. I'm at the Getting Started page of the pool I mentioned above, but just see config examples for GPU miners. Not sure how to set up to mine on ASICs. Perhaps the DNotes team could make a detailed video tutorial on how to mine the coin. All the technical jargon on the Getting Started Guide is too complicated for me. I think a video guide would be very helpful especially for those of us who are newbs when it comes to mining crypto-currencies Welcome cryptokrazy, DNotesPool.com is managed independently by one of our team members. It has been running since the launch of DNotes with very little issue. As far as setting up using an antminer, which you will have to excuse me as I don't have experience with that miner, I believe it is a local / web interface where you have to plug in your URL (from https://dnotespool.com/index.php?page=gettingstarted) stratum+tcp://dnotespool.com:8333 and your worker and password. I was looking at this video to give me an idea of how the L3+ would work with DNotesPool.com https://www.youtube.com/watch?v=D1ain_K_LLQ. As far as mining videos, appreciate the idea, however there are many variables in hardware / software / proprietary systems for ASIC machines. Which leads to hundreds of variations and mining on a computer today is not practical nor is it recommended for someone just getting involved in cryptocurrency. It is indeed very technical and takes a lot of research, this is part of the reason we will be moving to proof of stake. Staking on the other hand will be much easier to setup and understand with very little technical knowledge required. Edit: And that is correct BTCWise, all you need for hardware for staking is just about any computer. Thanks for the reply. Proof of staking sounds awesome. Most people can't afford mining equipment that's why they turn to cloud mining. I think with the introduction of proof of stake it will encourage more people to get involved with DNotes especially now that we will only need a computer to start staking the coin. DNotes 2.0 is going to be awesome. Thanks for sharing the video. I will check it out when I have some time. Take care and Merry Christmas to the DNotes team and the entire community here on Bitcointalk. May you all have a blessed day with your friends and family Certainly, BTCWise, " DNotes 2.0 is going to be awesome." Merry Christmas to you and all our friends and family around the world. |
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I found a short video recap from the World Funding Summit (that Alan and Joe attended in November for those of you who didn't know). It's great to see what else was going on there, and must have been awesome to be there in person. The World Funding Summit Recap ~ The Future is Now - https://www.youtube.com/watch?v=cx5CzW_lUZ4&feature=youtu.beThank you, Chase. It was good to note that I was in the very few screen shots selected for this brief video. |
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The article below is worth reading. It's a good reminder of the "Wild West" realities that is still rampant in our industry. Unless it is brought under control, mass acceptance of digital currency is a pipe dream. We are committed to make a difference, even at a high cost. Businessman Suffered Losses in Moolah: Risks in Digital Currency Exchanges Several businessmen have suffered losses when trading for Bitcoin and other cryptocurrencies in online exchanges as of late September 2017. Among the investors who were victimized are Dan Wasyluk and his colleagues. According to Wasyluk, they lost 750 Bitcoin, which are worth around $3 mln at current prices, at a company operating a virtual currency exchange called Moolah. He further added that there is little chance that they will recover their money. “It really was kind of a kneecapping of the project. If you are starting an exchange and you lose clients’ money, you or your company should be 100 percent accountable for that loss. And right now there is nothing like that in place.” Why are cryptocurrencies risky? Read more: https://cointelegraph.com/news/businessman-suffered-losses-in-moolah-risks-in-digital-currency-exchanges |
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...be careful and listen to your peers.
I think that part of your post is worth singling out. So many people miss it, but the cryptocurrency industry is primarily one of networking. If all you see is the price of Bitcoin you miss out. If all you focus on is the technology, you miss out. It's about the people who develop the technology and whose accomplishments impact the price of digital currencies, and about the relationships you make and what you learn from each of the people you connect with. I look at fundamentals in choosing whether or not to invest in a coin, but at the end of the day, every coin I hold, I probably bought it or earned it because of a relationship I developed with someone who was either involved in developing it or really liked it or someone I met in the process of checking out the fundamentals. Great points, Wiser. It's also important for the digital currency to have a purpose that supporters can relate to and believe in. That is what will set DNotes apart from others. Merry Christmas! Alan, Thanks for the invitation! I'll be out that way in May, perhaps a side trip is in order. I'll check in with you later on that. In the mean time, Merry Christmas to you, Joe, and the whole Dnotes & Smokey's team! Bob Bob, Certainly. I will be there in May though there will not be as much the see. Daylilies start blooming in mid June with peak bloom in July. Also the new house will be still under construction in May and completed in June. However, I will be delighted to see you again anytime. Merry Christmas to you and your family! Alan |
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...be careful and listen to your peers.
I think that part of your post is worth singling out. So many people miss it, but the cryptocurrency industry is primarily one of networking. If all you see is the price of Bitcoin you miss out. If all you focus on is the technology, you miss out. It's about the people who develop the technology and whose accomplishments impact the price of digital currencies, and about the relationships you make and what you learn from each of the people you connect with. I look at fundamentals in choosing whether or not to invest in a coin, but at the end of the day, every coin I hold, I probably bought it or earned it because of a relationship I developed with someone who was either involved in developing it or really liked it or someone I met in the process of checking out the fundamentals. Great points, Wiser. It's also important for the digital currency to have a purpose that supporters can relate to and believe in. That is what will set DNotes apart from others. Merry Christmas! |
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It is very demanding and costly to build a top notch exchange. We are committed to build our own and do it right. It will cost $ millions and may take a little longer. But that is a vital component of our fully integrated system. If I have my way, we will have the best customer services - something annoying lacking in our industry.
I think you may be right about a top notch exchange costing millions of dollars to set up. If anyone can do it, DNotes Global can. Good customer service is an absolute necessity, but tough to keep up with when you're growing rapidly. I think you have to over-hire tech support reps and consider it good when at times some of them are standing around doing nothing. Congratulations on the Geneca partnership! And Merry Christmas to you and yours! Tech support is the life blood of any company dealing with the public. As Alan knows, I founded two tech companies, one a networking contractor and PC sales and the other a national Internet provider with several education focused physical locations. My partners and I saw eye to eye on most things except the value of tech support. They were focused mainly on the technology, which is of course important but, not if customers can't use it. I remember us going round and round at board meetings about where to concentrate growth after new customer acquisition. Mostly we ended up spending on techs, engineers and hardware and what ever was left over was allocated to support staff. In the the end, this is what finally killed us along with the advent of cable Internet. I can't help thinking what things might have been if we had less engineers and more marketing people who understood the customer relationship and the need for a live voice at the other end of the phone. Never forget the human touch, it's what separates the winners from the rest of the pack. As for DNotes, I'm sure you will do fine. The various talents that currently make up the "team" compliment each other nicely. If you can, at worst, agree to disagree, then you have a head start. PS: Wasn't all bad, we sold one for a nice profit and the other was a wash. RJF, I certainly remember the long discussion about our business background. You should visit us again when you have a chance. The farm has doubled its size to 70 acres and already fully planted. It is stunning at peak bloom in July. I am building a second home there with plenty of room for our guests. We may have a small DNotes conference there one day. We are also thinking of naming one of the daylilies I created “DNotes”. What do you guys think of that idea? It may be another small step that can contribute to DNotes mass acceptance. Absolutely correct. Great customer services, including tech support is the life blood of any company dealing with the public. For that matter, every company has customers, and in business to service the needs and wants of their customers. A full-service exchange is an integral part of our fully integrated ecosystems. When we are ready to make that commitment, it will include a commitment to be the best in class including customers support and the most robust security. In the meantime, our top priorities are launching DNotes 2.0, Mini-IPO funding, ramping up NextGen VC. These are the three big projects for 2018, with a lot of smaller related projects. It is time for DNotes to shine. Thank you all for your support. Merry Christmas. |
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I don't know whether someone has posted this or not, so ignore this if it is old news. The infrastructure at Bittrex wasn't capable of handling the rapid scaling of an onslaught of new users and had to shut down new account registrations (until further notice). My guess is that a lot of the exchanges are likely in the same boat. New Account Sign Ups
December 15, 2017 10:21
Dear new users:
We have received an enormous number of new account registrations over the past few weeks. We are excited to have so many new users who want to join the Bittrex community. Unfortunately, we have to make a few upgrades to our support and backend systems to handle the increased traffic and load. As such, we have halted new user registrations for the time being. If you already have an account on Bittrex, you will not be affected by this change. Please continue to the log in as you normally do.
To our new users, we will keep you posted on when we open up registration. We apologize for the inconvenience!
The Bittrex Teamhttps://support.bittrex.com/hc/en-us/articles/115003463331It is very demanding and costly to build a top notch exchange. We are committed to build our own and do it right. It will cost $ millions and may take a little longer. But that is a vital component of our fully integrated system. If I have my way, we will have the best customer services - something annoyingly lacking in our industry. |
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We have been searching for the best possible firm to expand our development team for DNotes 2.0 and beyond, and we are proud to announce we have acquired the services of Geneca. Geneca shares both our business philosophy and our vision for making DNotes a technology leader, making them the ideal partner for our rapid expansion plans. A little background on Geneca: "19 years ago, Geneca was born as a technology consulting firm, fueled by the conviction that technology investments are judged by the business benefit it delivers. Which means, since the day we opened our doors, we have been pushing ourselves to not only meet but exceed our client’s expectations.
Our philosophy is that by aligning with our clients goals, ideas, and delivering transparency throughout a project, we will accurately capture the essence of your product and bring it to life.
Due to our longevity within the software industry, we have established a secure foundation which has allowed us to be innovated thinkers and expects in our field. We bring a type of simplicity when developing a product due to our team being able to communicate effectively on both a technology and business level. By speaking fluently within both areas, we are able to connect the two concepts insuring that our clients are receiving a product that will work while advancing their business.
Throughout this process, we are not just building a product we are also building a partnership. By collaborating with our clients, we work toward one goal of building a successful software product not just billing hours. Due to this, we have a 92% success rate (on-time and on-budget) on the projects we deliver.
Our Mission
To help our clients stay ahead of their competition by pushing the boundaries of what is possible with advanced strategy and cutting-edge technology.
Our Vision
Use software to create something extraordinary from something ordinary. To do that, we have to be MORE than a technology company. We have to be THE place to go to turn a big idea into big business impact." Company details: Websitehttp://www.geneca.comHeadquartersOak Brook, IL Year founded1998 Company typePrivately Held Company size51-200 employees Here are just a few of the articles they have written on their blog: https://www.geneca.com/blog/a-shared-language-why-you-need-one-how-to-create-ithttps://www.geneca.com/blog/5-ways-to-build-a-strong-cultuhttps://www.geneca.com/blog/walk-softly-and-carry-a-big-cataloguehttps://www.geneca.com/blog/truly-inspirational-leaders-can-dodge-raindropshttps://www.geneca.com/blog/5-questions-to-determine-if-your-culture-motivates-millennialshttps://www.geneca.com/blog/to-find-and-retain-more-customers-think-like-a-software-companyThey are also product focused, which means they understand deadlines and realize the need for coordination with the rest of the business. To accomplish these goals, they have developed a set of amazing tools to keep everything on track and everyone on the same page, as well as provide a means for measuring progress and early detection when things may not be going as planned in order to make adjustments as needed. With the addition of Geneca, there is an adjustment in the development of DNotes 2.0 and our priority for full C# conversion has been degraded to ensure we can meet our goals and time lines in Q1 2018. Geneca has met and exceeded our expectations, and is without a shadow of a doubt the perfect fit for us and a mutually beneficial relationship with DNotes Global, Inc. This is amazing news! " Geneca has met and exceeded our expectations, and is without a shadow of a doubt the perfect fit for us and a mutually beneficial relationship with DNotes Global, Inc." I checked out their website and it's unbelievable that you found another company that is so in sync with DNotes' vision. Congratulations! Thanks, Chase. This is a major breakthrough with enormous mutual benefits. They are just as impressed about us as we are about them. Amazing things will happen when two "best in class" teamed up. I have already signed off with a significant financial commitment to go forward immediately. This will give us immense capabilities to be the technology leader we have envisioned. |
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