Another Reason to like DNotes2.0 Moving to Proof Of Stake

Creating content has been a growing industry for decades now, from movies, through television, to websites and online videos. And the majority of this content isn't paid for directly. Instead it is supported by advertising. But as the public gets more wary of the ever increasing psychological techniques used in advertising, and become sick of advertising taking over screen real estate, we're adopting tools to circumvent or block advertising.

So new avenues for paying for content are being explored. One is micro-payments which are now becoming possible due to cryptocurrency reducing individual transaction fees. Another one is renting out computing power for mining coins while enjoying the content being provided. This is the service being provided by Coinhive. They provide code to website managers, which is then run on visiting computers. It is Coinhive's intention or preference that the websites get user permission before doing this, or at least inform visitors to sites running their code that it is running. But they have shown little interest in enforcing this courtesy.

Not so surprisingly, people have found a way to exploit this service and hack into other people's websites to inject the code, for their own profit. As the ars Technica article states, "Ad blocker AdGuard recently reported that 220 sites on the Alexa top 100,000 list serve crypto mining scripts to more than 500 million people."

But even if this system is used ethically and only with user's acknowledgement, it is still likely to be a fail. This is because running the code on a CPU without high-level optimisation, is very likely to earn less in mined coins than it will cost users in electricity. In the comments. Evan_s put it really well. "Add on the overhead of JavaScript implementations running in a browser instead of decently optimized native code and you are even less efficient at mining. This means you are probably spending a fair bit more on electricity than the site is getting for their cut of the value of the bit coins." And then goes on to point out that it will never work because as soon as a basic home setup running java-script through the CPU is profitable, more people will set up much more efficient rigs.

And this is just another example of how the heavy computing load, and its subsequent waste of resources, will eventually make Proof of Work a relic in cryptocurrency's history. If instead POW was creating something of real value, like rendering CGI frames, or analysing data for SETI, I could get behind that coin. But as it stands, the only coins that interest me are the ones using POS.

https://arstechnica.com/information-technology/2017/10/a-surge-of-sites-and-apps-are-exhausting-your-cpu-to-mine-cryptocurrency/

It's a great quote -- all good projects are built on solid foundations and fundamentals. DNotes have spent years making sure they get the right foundation in place before planning to rapidly scale and adjust the system to need beginning next year, as Alan has pointed out. People often do not recognise the importance of proper fundamentals at the start because they are usually attracted to what is right before them, and visible. DNotes success centres on its plans in its roadmap. Right now in this space people can see new ICO projects that offer some interesting features, and some projects that are cryptocurrencies and others that are development platforms that also do cool things. There are also decentralized exchanges and fiat gateways we like to use, and payment processors, and then there is traditional banking etc. Each of these groups have their own market segment that they generally stick to and compete in. DNotes plans to do all of these things and bring them under one roof to make spending money even easier than it is for us today, without anywhere near the costs! Once people can spend money fast, cheap, and easily, they'll have something before them that is both visible and useful that is not offered by others -- and they will want to buy it. At that stage, the price could go to anything. What is the market value of something that is better than traditional banking, can do what VISA does, and offers all of the necessities we need in the cryptospace in a tightly integrated fashion?

Successful projects like the one described above must begin with sound foundations and fundamentals. The quote from Alan's book encapsulates it nicely.

This is the first time I've heard someone talk about the importance of making your decisions promptly. It would seem to be an obvious thing to do, but in many workplaces I've seen work stalled for a long time while waiting on a decision. And I've experienced what Alan mentioned where staff need to get the job done, so they make a decision themselves. Sometimes this has been okay, and sometimes the staff have lacked all of the important information and re-work was required.

I'm also really glad to hear Alan saying that it is important to follow your instinct and learn to trust your gut. What I'm hearing from management principles lately is that you need to be able to justify your decisions with logic, that you can't make them on a whim. But I'm on Alan's side with this one. Logic has it's place and no go leader will make a decision lightly when they know it is illogical. But successful managers might well make decisions that seem illogical by following their instinct, and then turn out to be right.

Life is not a closed system, the information that we're given is rarely more than a snap shot of an approximation made a some point in the past, and the rules we apply to our logic can often turn out to be old and faulty wisdom. Some of this old-wisdom persists in some cultures when it has been completely disproven in other cultures. For example, in Australia, the current wisdom is still, "When opening a shop, put it where there is nobody selling your product so that you capture that market." In Southeast Asia, the best place to put a shop is clearly right next to where there are lots of others selling the same thing. But if you look at results, even in Australia, the most successful shops are the ones that are clustered by product. If there are four Italian restaurants in one suburb, and just one Italian restaurant in a suburb closer to you, customers are more likely to drive further to the cluster of Italian restaurants than to go to the closer shop.

But the worst thing about following logic is that it discards the powerful and complex abilities of your brain to draw on thousands of seemingly unrelated data points and correctly predict the best course of action. This ability runs much deeper than our conscious thoughts that we're aware of. And because the magic is done behind a closed curtain, many people find it much harder to trust, than the conscious little steps that we can take with logic. It takes courage to follow intuition over logic. But experience of success in doing it, and as Alan said, "honing your skills", makes doing this become more natural over time.

Hi sl-avik,

The chart is merely showing how the DNotes 2.0 CRISP interest, staking reward, and the 365 day deposit will add to your balance. The second part of the chart shows how an increase in the price of DNotes over the next 10 years would affect your long-term investment.

"The chart below gives you an idea of the potential growth of DNotes 2.0 if you take advantage of the various rewards opportunities. Nothing is guaranteed in cryptocurrency, the markets are volatile, and you should never invest more than what you are comfortable putting into a high-risk investment."  

As far as the price going down, DNotes is not alone - it is the nature of the industry. The majority of people in crypto right now are attracted to the latest hyped up ICO, and may not understand the significance of DNotes doing things differently. Many of the coins with inflated marketcaps have nothing to support their value, and could see a lot of selling pressure in the near future.

If you want to know why I believe DNotes has the potential to grow to $10 - $100 in 10 years, you may want to check out the roadmap here - https://bitcointalk.org/index.php?topic=1924858.0  

Thanks Chase, for doing the math and presenting it so clearly. I really like it how you broke it down into the increasing number of DNotes due to holding onto the investment, and the increase in value of the total amount of DNotes owned with different projections. Very clear. I often hear how Alan and the DNotes team believe it is important to start saving early, but seeing the numbers, and the impact of compound interest makes that so much more clear.

long-term in crypto world and long term in real life it different terms
many projects in five years dead and appear handred new
but Notes now alive and in crucial stage, I think year-two in crypto it very long term
as for me investor need divide your investment in some part for very long, long, short, days trading

Hi Queen_Amber, I'm neither an investment adviser, nor an expert, but he's my thoughts anyway... You bought at a great time, with the price currently so very low. I'm 48 years old and grew up in a time when a long-term investment was ten or more years. Investing in something for less than one year was something I'd never heard of. So it says a lot about the cryptocurrency market that you call one year a long-term investment.

I think it is very reasonable to expect the value of DNotes to jump if they deliver a bug-free, easy-to-use, wallet for DNotes2.0. I also believe that they are committed to doing this and capable of achieving it. I understand they intend to do it soon, but coding is not simple and moving it to C#, while it takes more time, is worth the effort and investment. So I'm going to talk about a date that is either one year from now, or a few months after the release of DNotes2.0, which ever happens LAST.

My recommendation would be to decide what a good return on your investment is. Considering this is not a guaranteed investment, and one some market sectors would label high-risk, it should be a high return. Maybe somewhere between making and extra 20–100%. On the one-year date, if you sell enough DNotes to make back that investment, you've made a profit that you can spend. Then the rest of the DNotes you did not need to sell to make your profit can continue to perform as your investment.

I say this because while I think a jump in the near future is likely with DNotes2.0. I think it is also very likely that DNotes will succeed in many of its long-term goals, bringing the value of NOTE much higher still.

For example, let's say $600 bought 15,000 DNotes at $0.04 each. Then in a year, DNotes is worth forty cents each. And say you wanted to double your investment. You could sell 3,000 of your DNotes and get $1,200 back. Then you could leave the remaining 12,000 DNotes to accrue value like an old-school long-term investment for ten years. Maybe by then it will be worth nothing, it is possible. In that case, you still doubled your money. But it is just as likely that DNotes is being used for daily transactions and a single DNote could be worth $4,000. This would give you a portfolio worth $4,800,000. Not bad for a risk-free investment after already doubling your money.

But let's say that DNotes sits around the same price you bought it at and you let it just earn interest over the ten years. As I understand it, there is a monthly reward, and an annual reward, and a staking reward. These compound over different periods, and I'm likely to get the math wrong. I'm also aware that the DNotes team have people that could do that math very easily. But the $600 investment, compounded over ten years, will still earn you plenty of interest. Feel like doing the math TeeGee?

So however you look at it, I can understand you being excited about your investment. I've also found the DNotes community to be both knowledgeable and helpful, not just about DNotes, but anything to do with cryptocurrency. So as well as making an investment, you've joined a community of great people. So I hope to see more of your posts on this forum and enjoying all of the benefits.

I just invested $600 into Dnotes, im optimistic about the future of this coin 

It is certainly a lot of value created through a series of trees. There may be some claim to be made that users are becoming involuntary investors of other coins, that is, if all the forks are diluting the value of the primary chain.

Forking has several interesting dimensions to it. On the one hand it allows participatory democracy, in that if a large group of people have their own idea on how to do it better, they can just go fork the network. But it is problematic, because on the other hand those people that deviate don't abandon ownership of coins on the original chain by default, and everybody on the main chain is issued an altcoin that they may not want, which could dilute the value of their preferred, original Bitcoin chain. Those resistant to the split race to sell off their newly forked coins, and they may end up with less value at the end than if no fork occurred. It would be more appropriate for these people doing forks to just go and create their own alt coin.  

Now we have a situation where everybody signalled for SegWit2x, and now those same people who agreed to upgrade to it are slowly withdrawing their support. That could mean we end up with multiple competing bitcoin blockchains, of which we are not certain which will be 'dominant'.

I'm just glad that we think things through at DNotes, and as a strategy avoided growing beyond our ability to make significant changes to our blockchain, so that we could implement upgrades without stressing the community. This privilege won't last forever though -- as DNotes grows significantly over the next year, we will be creating democratic governance models with network integrity in mind.

There is a lot to like about this design. The balance and colours are just right and lend an atmosphere of authority.

As for the five-cogs logo, it has never made sense to me. Maybe I'm too literal, and would have been happy with four pillars, or something that indicated four qualities, combined with something that indicated a foundation. I suppose, three cogs in triangle formation has always bothered me because of the fact that they can't work together like that. And the teeth of the cogs in the image are unable to mesh because of their different spacing.

I don't know if I'm alone in my reaction to this logo, but if I'm not and at some point it requires changing to something that the public responds to more positively, the sooner that is done, the less re-work will be required.

Looks awesome BTCWise!

Last act in the Bittrex saga?

Yesterday, everything was back to normal. My accounts restored to their previous levels and an apology from Bittrex but still no real explanation what caused this nightmare. While I appreciate the restoration of my legacy account, I am, to use a well worn idiom, "Once bitten, twice shy" and will find it hard to trust them in the future. I have started, grown and sold several successful business ventures in my time and I find that there are really only three (Alan would argue it's four! ) things needed for success: knowledge, honesty and something everyone needs. At least Bittrex has two of the three, guess that will have to do until someone comes along with all three. Oh, wait, the would be DNotes!   

I just made time to watch the second video posted in this set and it really resonated with me. I understand that the general message of the instalment is that through confidence, you will lead by example, listen to employee suggestions, and foster a better company culture. But beneath this, the video raised a concept that really interests me. This is the combined intelligence of a workforce.

In the late 1800's the term "brain trust" came into use and was popularised in the 1930s–40s during the US Roosevelt administration. This term referred to a specially selected group whose combined intelligence and experience achieved greater results than individual efforts. In 2006, when the "specially selected" property was dropped and the number of members massively expanded by the Internet, the new term "crowd sourcing" came into existence.  But despite the concepts having been around for a while, there is no term in common use for the combined intellectual power of a business. This is because the concept is not widely considered or discussed. So again, I'm recognising Alan as an innovator in this area of business management.

In this video Alan talks about how important it is to listen to employees so that they share ideas. He goes on to suggest leaders should make their staff think through problems and adds, "We learn when we are forced to think." This shows Alan's recognition of two fundamental things in accessing the combined intelligence of your staff. First, building their thinking abilities, and secondly, creating an environment where their thoughts are shared freely. These concepts are very important to business success. Every great idea not had, or not shared, is an opportunity for profit that is lost. And success is the result of turning opportunities into profit.

And I know that Alan isn't just spouting opinions on video, he lives his message and the results prove their relevance. In a recent post TeeGee mentioned how beneficial the recent period of DNotes Global Inc collaboration was. His comment made it clear how Alan encouraged and valued the thoughts and ideas of his team, not only listening, but refining ideas with his own experiences. So when DNotes Global Inc talk about solving the trust problems and many others issues with a well designed exchange, I know that the result will incorporate the many ideas and solutions shared by staff, and even crowd sourced ideas from this thread.

I love your comment again TimMarsh. Not a lot of time for a substantial response -- I am about to go to bed to catch a flight in 5 hours, where I'll be speaking about the future of money at a conference the day after (should have a video for you guys to watch this time). It'll be roughly 30 minutes long with Q+A at the end.

But, regarding the part you said about refining ideas with the experiences of other people, there is another quote that I like:

"There is no short pathway from smart to wise." - unknown author, I even googled.

Yes ......Doing Things Right The First Time Around is and has been the cornerstone of excellent Customer Relationship Management /Customer Service in many successful global / multinational companies...and is certainly and compulsorily the way forward /long-term survival even for any start-up

Seems they may have placed the "1" on the wrong side of the decimal...