hi,
I invest in Note some number btc and now need some more information about date of the swapping (or starting swap)
I read that this date near end of sept., but Nexium project close to this date, so please detail this question
also i want invest next part of my deposit if will more information
I think that Note looks like Neos before swap and will x10-x20 in near futures
so I and my group wish wise develop for all DNotes team
Hi sl-avik, welcome to the DNotes forum! I am unable to provide date at this time, we should have a better idea next week. |
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Mining BitcoinCash for a LossThis article on Coin Desk raised some interesting points. https://www.coindesk.com/miners-mining-bitcoin-cash-losing-money/The article is about how over last weekend the difficulty of mining bitcoinCash went up by 300%. And how some miners including some of the large pools stuck with it anyway. Then it goes on to analyse possible reasons. The first thing that jumped out at me is how fickle mining might be. If you have a rig setup that is able to skip between cryptocurrencies quickly and with minimal overhead, it makes sense to respond frequently to shifts in market value and mining difficulty. If this sort of rig became the norm, then transaction times for cryptocurrencies based on PoW would swing wildly. So suddenly, I'm even more relieved to know that DNotes2.0 is shifting to PoS. I guess that if fast response rigs became common place, tuning a consortium to succeed in a 51% attack would become much easier too. The other thing that they only touched on was that bitcoinCash has a mechanism to quickly compensate for excessive difficulty. To quote the article: " As a result, emergency difficulty adjustments (a technical mechanism unique to bitcoin cash) were triggered, causing the difficulty to drop enough for miners to begin switching back.For me the code behind this raises another question. If the code is a public algorithm, which I suspect it is. And if the algorithm does not contain a randomising element, which I suspect is the case. Then a consortium could game the algorithm to give them an artificial advantage. It could be done by sending the network pulses of processing power designed to trigger the difficulty drop. Then inverting the pulse to throw a lot more work at solving the easy hashes, and increase their chance of mining that block. Knowing the algorithm and current amount of work going into the network should make calculating trigger and advantage points relatively simple. And again I'm glad to know that DNotes2.0 is moving to PoS. The article goes on to speculate that there might be artificial incentive to mine being created by those who want the value of BitcoinCash to rise. It proposed that this could be achieved by offering a premium purchase price for newly minted BitcoinCash which only miners would have access too. This is certainly a very feasible idea. But shouldn't it also be easy to prove? I would have thought that some code that explores the block chain and compares the sale price of transactions made on newly minted coins to the the average sale price at that time would provide solid evidence of this. Maybe some coder will do the work soon and it too will be news. You have identified some of the more intricate issues cryptocurrency is already experiencing with PoW. Many of these issues do not manifest in bitcoin (or others in the largest market caps) because the hashrate is so high and there is a finite amount of hashing power, so the fluctuations are minimal. So they are not as widely known, as the focus is on larger currencies. The introduction of things like bitcoin cash will magnify these issues and bring them to light for everyone else. With many of the other cryptocurrencies, mostly with different algorithms and smaller market caps, where jumping around is more advantageous.... There is much more "gaming the system". We have things like multipools and mining software built specifically to hop between pools, resulting in all sorts of network related issues. Such as unpredictable block times and network support. It is quite amazing how quickly the network of miners move according to the price. There are modifications to the blockchain, some of which DNotes has incorporated, however this approach will always leave you behind the curve. Constantly making updates to combat manipulation. Constantly fighting the miners the perform an upgrade that will ultimately result in reducing their ability to game system (why would they want that?). Constantly introducing new variables and potential bugs. All on a slow to upgrade network, causing constant forks and network disruptions. The scales are tipped highly in favor of PoS for many reasons, and we believe the future of PoS developments will continue to tip the scales even more in favor of PoS. |
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Got the files back from BTCWise and updated the channel. Looks great and thanks again! but open to suggestions, if we need anything else. My concern is that the font size is too small. The "Enabling peer to peer" font size is the bare minimum that I can read on the banner when looking at Youtube. Small print makes me nervous. Maybe I get nervous from the line in the Tom Waits song, " Step Right Up" that says, "The large print giveth, and the small print taketh away." Thanks TimMarsh, adjusted the font sizes of the smaller items to match the sub title. Let me know if that is more easy to see. |
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Got the files back from BTCWise and updated the channel. Looks great and thanks again! but open to suggestions, if we need anything else. |
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Can anyone help me with this? I have a DNotes paper wallet and want to get it to DNotes Vault but don't know how. Any help is appreciated.
What happens to the time send smart contracts at DNotes Vault when the switch occurs to 2.0?
Great score on the world funding summit. Congrats DNotes team.
Hi aggie77, There are a couple of different scenarios based on how you created your paper wallet. The most common paper type wallet should have a private or secret key listed which can be imported into the DNotes desktop wallet. The private key will be a long list of random looking characters. Once you download the wallet from DNotesCoin.com, follow the included instructions for creating the DNotes.conf, then open the wallet. Go to Help then Debug Window then Console and you can use the command importprivkey [YOURSECRETORPRIVATEKEY] YOURLABEL. That will import the private key into the wallet. Ideally this process would be done from an offline computer, and you can encrypt your new wallet (settings then encrypt wallet) before bringing it online to update. Let us know if you have any questions or need any help. |
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Thanks Chase! Hope they are doing ok. Good advice in the beginning of that article, for this very reason: "One of the more common security practices recommended when signing up for a cryptocurrency exchange is to not use the same email and password combination across multiple platforms. " |
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Happy Labor Day All
"Labor Day in the United States is a public holiday celebrated on the first Monday in September. It honors the American labor movement and the contributions that workers have made to the strength, prosperity, laws and well-being of the country. It is the Monday of the long weekend known as Labor Day Weekend and it is considered the unofficial end of summer in the United States. The holiday is also a federal holiday."
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New additions to the Four Pillars membership site: This is a new video series that covers each chapter in the book as well as expands on those concepts for that chapter with additional or expanded insights. The videos will be available to watch via the links below for a short period of time, after that they will only be accessible from the membership site. Chapter 1: Be Equal to or
Better than the Competition Securing the
Home Front
| Do You Have
What It Takes?
| Beat the Competition:
Innovation Wins
| Developing the
Entrepreneurial Mindset
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Initially I thought this might be a joke, but looks like it is a real project for customer loyalty rewards. Customer loyalty rewards is an interesting way to utilize digital currency, and an excellent format for large companies to adopt digital currency in it's early stages. If it can always be exchanged for a whopper, essentially backed by the value of a whopper, it will be interesting to see how stable the price will become and if exchanges will pick it up. |
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FYI:
"Unable to connect to wallet RPC service: RPC call did not return 200: HTTP error: 0 - JSON Response: []"
DnotesPool.com 9/1 2130 EST
Thanks RJF, I'll make sure he knows. |
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It does appear to be a decentralized coin, and agreed, a mishap along with the unforgiving nature of cryptocurrency could be disastrous very quickly. I can see why they would be excited about it though, compared the long process of moving funds from clearing house to clearing house, and all of the middle men involved in the existing banking systems, this would be a significant time and cost savings. I just wonder what will happen when funds are stolen or lost, as happens all the time today, and if they have no means to reverse it.
That's a really interesting point you raise there about not being able to reverse transactions. When I was a teenager, with little over $40 in my account, one month I looked at my transaction history and noticed that for a couple of weeks there had been $600 in my account. This had been a mistaken transaction that was subsequently reversed. I've known a few other people that have experienced similar things. And I suppose with the number of transactions being made every day, I shouldn't be surprised at a couple of mistakes. Had this happened on the blockchain, I would have been contacted and asked to make the payment back myself, which I would have done. But this is not as simple as just reversing an erroneous transaction, and coin addresses don't typically come with contact information. Decentralisation means that things like reversing transactions are not possible. But this inability to take money out of my account without my permission also gives me confidence. I once called up a bank to make a transfer because their phone transfer system was failing. This was before online banking. The staff member made the transfer for me, which surprised me a lot, because only after it was done did I remind him that he hadn't asked me for my password and security questions. He was a little embarrassed at his breach of protocol. I was astounded that bank staff didn't actually require passwords to move money out of an account. We have been thinking through these processes and looking at how similar things are done in the industry, which will be helpful for when it comes time to have DNotes exchange and other financial services. For the most part, this will likely only be a backend system where banks send funds to other banks. I can envision a lot of it would be automated, with good testing they could remove a lot of the human error potential. I also imagine, if one bank mistakenly sends funds to another bank, it would be fine and they can just send the funds back. I would also envision triggers to be implemented, if the address has not been used by their system before, larger amounts, anything unusual or that can lead to a large loss. The trigger would then require the transaction to go through a multi-point / manual approval process, and this could help reduce and minimize loss. These are just some processes to help limit risk, however, best practices have not been fully established and even some of the largest exchanges today are not infallible. |
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It doesn't look like the government-issued cryptocurrency discussion is going to give us a break anytime soon.  More major banks have joined a global central banks project called Utility Settlement Coin (2015). There is certainly some murky water in this proposal. "The platform aims to use virtual currencies that could be amplified by fiat currencies issued on the Blockchain." Amplified? I'm not sure what the meaning is in this case, but the fact that amplified can mean to make a larger amount of something, is a bit of a red flag. "The settlement coin will be a collateralized digital currency, backed by cash assets at a central bank, which allows us to transfer ownership easily through the exchange of USCs, thus reducing process complexity and the time taken for settlement." - What is the country/international bank in question including in cash assets? Government 'promise to pay' treasury bills? Short term loans they 'may' be able to collect in 30 days? An inflated balance from fractional reserve practises? And, once again, what's to stop the central bank of Venezuela or any other country, or any international bank in financial trouble, from claiming to have a lot more cash assets than they actually have and bloating the digital currency supply? The scariest part of all is - what happens when a system like this has a security breach? Whether it is backed by cash or not, the fallout could be catastrophic. Major Banks Join USC Project for Blockchain-based Cryptocurrency Banking - https://cointelegraph.com/news/major-banks-join-usc-project-for-blockchain-based-cryptocurrency-bankingWell, that has all the certainty of a Gordian Knot tied around an enigma. Yes, the chance for breach this early on in the tech is an unacceptable risk in my opinion. It's typical though, too much too soon. The Titanic comes to mind... Thanks, RJF. I am in agreement with you and Chase, as she puts it, " The scariest part of all is - what happens when a system like this has a security breach? Whether it is backed by cash or not, the fallout could be catastrophic." When things of such gargantuan scale are involved there can never be sufficient asset backed guarantee. A mishap could erode the value of their asset backing faster than a “New York Second”. The sad part is that they could still proceed out of fear and ignorance. And that could lead to even more people not trusting the bank any more. It does appear to be a decentralized coin, and agreed, a mishap along with the unforgiving nature of cryptocurrency could be disastrous very quickly. I can see why they would be excited about it though, compared the long process of moving funds from clearing house to clearing house, and all of the middle men involved in the existing banking systems, this would be a significant time and cost savings. I just wonder what will happen when funds are stolen or lost, as happens all the time today, and if they have no means to reverse it. |
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Looks like they are providing a bitcoin mobile payment wallet (bitcoin m wallet), with a back end gift card system (KaChing) that can convert bitcoin to pay for goods and services. Interestingly KaChing is also providing token services, allowing users to create their own token and convert cryptocurrency / fiat / token. With a fairly wide variety of services, I'm not sure what exactly triggered SEC to get involved, but I gather the token creation service coupled with exchanging your token could be one of their biggest concerns. |
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[...] Vietnam is also a strong trading partner with China, and trades a lot with Thailand and Cambodia. A lot of the people in this region run their own family business, and don't have bank accounts. As cryptocurrencies become easier to use, and trading skills increase, I see this region of Southeast Asia as being likely early adopters. Interesting. I see all this leading to Gov't created, and sponsored, crypto in the future. It may take a long time but it will come. Which, I believe, is the main reason govt's are going easy on crypto now. They don't want to regulate themselves out of the game. When the majority of citizens are aware of, and comfortable with, crypto, I think there will be a "sea change" in the way we trade and use money. It would be fairly easy for those at the top of the power pyramid to simply mandate a schedule of declining reliance on fiat and increasing use of some government sponsored crypto coin. [...] [...] As far as a government issued cryptocurrency goes, it will never measure up to what can be offered by a global, decentralized currency like DNotes. They will never be able to govern with a fixed supply currency, or even one that grows at a fixed percentage as in proof of stake. The best they will ever be able to do is a centralized crypto/fiat cross that can operate like crypto but still gives them the power to control the supply - what's to stop a country like Venezuela from doubling their crypto bolivars next week? [...] I agree however, there are a lot of "sheep" out there who will do as told simply because they know no other way, this is the problem. Perhaps global is too far reaching but, regional is reasonable. It would be easy to "taint" the crypto ecosystem with govt sponsored entries that mimic real crypto but do the government's bidding. [...] PS: I'm not an alarmist or conspiracy theorist, simply someone who has analyzed many such scenarios and presented opinions on same. Just opinions after all... You've made some well thought out points R-J-F, and you might be happy to know that I disagree with you. But not with a great deal of confidence, because cryptocurrencies are so new that they are still anyone's game. But Chase's comment about Venezuela doubling their crypto bolivars, is the very thing that will prevent government success in the industry. If I wanted to, in Australia, I could obtain some euros and convince the man mowing my lawn to accept them as payment by offering more than the AU$ value for his service. He could then give his mate a few of them for fuel and bait when they go out fishing. This is possible, but rather inconvenient because many people don't want to accept the euros and will charge more for doing it if they do. But in Cambodia, US$ are traded just as often as Khmer reil. Often in the same exchange, and a combination of both are passed over. This is because most people have a bit of both in their pockets. I don't think cryptocurrencies are much different. Everything boils down to convenience and value. So if many people are comfortable with just a few of the top alt-coins by the time government tries to mandate the use of AussieCoin, people won't want to accept it and its value will reflect that. Because banning the use of particular cryptocurrencies is much harder than banning the exchange of particular fiat currencies, it would be very difficult to enforce use of a government sponsored currency over the popular one. On top of this is the fact that there are almost 200 different countries in the world. To work out how many parallel successful cryptocurrencies there will be in the long run, I like to look at historical indicators like how many different credit cards would most people be happy to carry. Or how many different bank accounts is someone likely to manage. Looking at these sorts of questions and how humans like to organise their life in other ways leads me to believe there will be less than ten mainstream, frequently traded for goods and services, cryptocurrencies when the dust settles. It seems really unlikely to me that any of these will be a national currency because the majority of people using any of these ten leaders won't want to use another country's government cryptocurrency. I really can't predict with confidence how likely DNotes is to be the one that makes it into the top ten for general use. But I am inclined to believe it is more likely to succeed than any government managed cryptocurrency. I can see you've been thinking about this before, so I'm interest to know how you relate to my perspective. And I still agree that we all owe future generations our vigilance and our bias towards honest value-adding projects. Great discussion. As for DNotes becoming a globally traded currency, the key question is how many cryptocurrencies have the goals or are taking the steps to become globally traded currency. Many of the coins and tokens created today are to fill a very specific need or niche. |
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Thank you Dyna for all the clarifications. So in order for 1 to 1 swap to take place we need to sent the NOTES token to your vault account. That kinda not really a convenient process to do so to be honest. Why you don't have the option of Airdrop of NOTES coin to private wallet or may be consider getting a wallet developed for your project before you move ahead with snapshot. This wallet will be useful in future as well.
Rather than asking everyone to send tokens to you, actually it should be delivered to them as your project wants to initiate a swap. Are you planning to get Escrow's for each transfer of Notes to your vault being done during the swap period ?
Hi shade_wrath, thanks for joining us. To clarify - 1 option is opening your own account at https://dnotesvault.com and the DNotes in your own account will be automatically swapped to DNotes 2.0. This is the most convenient option. Option 2, is swapping DNotes by sending in DNotes to receive DNotes 2.0. Another, 3rd option, if any of the exchanges would be willing to participate in the swap process, they could be automatically swapped at the exchange. What does an airdrop entail? If I may jump in here, a lot of work you don't want to do including collecting new addresses from everyone's new wallets and sending the equivalent amounts of DNotes 2.0 to those new wallets from the blockchain snapshot of all the old ones. A real PIA and prone to error at every step especially when sending from an exchange account. You would have to have users send you their new addresses so you know who to match old and new addresses with, not good or you could inforce a cut off date and take another snapshot of the new blockchain, again a lot of work and you will miss people who procrastinate who will make you life miserable or, it can all be done online at the users end using the vault as middleman or, put the functionality in the new wallet itself. The Vault is a good solution. Lets users download the new wallet version at their leisure and keeps you out of it for the most part. Makes a lot of sense. Using the vault also extends the time for users to setup the new wallet. If they have DNotes on an exchange, I assume the exchange will perform the upgrade of the wallet without user intervention. Consider making a simple account generation method for this particular function, minimal info so the user impact is as little as possible. A simple page with an address to send to and input to enter their new address after downloading the new wallet from the same page. One step for the user, send to vault, download wallet, send back to new wallet, done. Just have to make sure the new wallets are available and must be downloaded before the user does anything else. You could also stress it would be in their best interest to open a full fledged vault account and simply keep their DNotes in the Vault. Put a time limit on it but don't make it too short, some people only check in monthly or longer. Give PLENTY of notice everywhere including asking pool operators to post a link to the instructions. Anyone holding DNotes in their own local wallet should be sophisticated enough to use the vault for this transition. Also gives you useful data about market penetration and basic numbers on circulation. Just my quick take on the situation... - OR - Build the upgrade into the new wallet. That way they can just run the upgrade (new wallet) and it will import the wallet.dat file from the old one and create the new balance. If new addresses are required, ET can phone home and have a unique one generated if you want or, do it on the fly like any QT wallet. Some extra code in the wallet but gets you totally out of the picture. Just like any other wallet upgrade to the user. Not knowing all the details of DNotes 2.0, hope I'm making sense. If not, simply disregard! There are a couple issues and risks associated with upgrading the existing blockchain. We are taking the position that it is better, given the circumstances, to take on the burden of the swap process in the best interest of DNotes stakeholders. We will indeed have a deadline for the swap, TBD, and the snapshot will be based on a specific block number. Any newly mined DNotes after that block number will not be eligible for the swap. The exchanges may elect not to participate in the direct swap, in which case they will have to delist DNotes and inform their users to remove their DNotes from the exchange. Then after a period of time, they can relist DNotes as DNotes 2.0. Sounds good. Will you be using the Vault then to accomplish the swap? We are encouraging everyone to use the DNotesVault as much as possible to participate in the swap, as it will be easy for the user to deposit their DNotes and won't require any further action. This will be a fairly clean and straight forward process. |
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Great, it looks like the majority like #5 so far. Definitely a good choice. |
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Thank you Dyna for all the clarifications. So in order for 1 to 1 swap to take place we need to sent the NOTES token to your vault account. That kinda not really a convenient process to do so to be honest. Why you don't have the option of Airdrop of NOTES coin to private wallet or may be consider getting a wallet developed for your project before you move ahead with snapshot. This wallet will be useful in future as well.
Rather than asking everyone to send tokens to you, actually it should be delivered to them as your project wants to initiate a swap. Are you planning to get Escrow's for each transfer of Notes to your vault being done during the swap period ?
Hi shade_wrath, thanks for joining us. To clarify - 1 option is opening your own account at https://dnotesvault.com and the DNotes in your own account will be automatically swapped to DNotes 2.0. This is the most convenient option. Option 2, is swapping DNotes by sending in DNotes to receive DNotes 2.0. Another, 3rd option, if any of the exchanges would be willing to participate in the swap process, they could be automatically swapped at the exchange. What does an airdrop entail? If I may jump in here, a lot of work you don't want to do including collecting new addresses from everyone's new wallets and sending the equivalent amounts of DNotes 2.0 to those new wallets from the blockchain snapshot of all the old ones. A real PIA and prone to error at every step especially when sending from an exchange account. You would have to have users send you their new addresses so you know who to match old and new addresses with, not good or you could inforce a cut off date and take another snapshot of the new blockchain, again a lot of work and you will miss people who procrastinate who will make you life miserable or, it can all be done online at the users end using the vault as middleman or, put the functionality in the new wallet itself. The Vault is a good solution. Lets users download the new wallet version at their leisure and keeps you out of it for the most part. Makes a lot of sense. Using the vault also extends the time for users to setup the new wallet. If they have DNotes on an exchange, I assume the exchange will perform the upgrade of the wallet without user intervention. Consider making a simple account generation method for this particular function, minimal info so the user impact is as little as possible. A simple page with an address to send to and input to enter their new address after downloading the new wallet from the same page. One step for the user, send to vault, download wallet, send back to new wallet, done. Just have to make sure the new wallets are available and must be downloaded before the user does anything else. You could also stress it would be in their best interest to open a full fledged vault account and simply keep their DNotes in the Vault. Put a time limit on it but don't make it too short, some people only check in monthly or longer. Give PLENTY of notice everywhere including asking pool operators to post a link to the instructions. Anyone holding DNotes in their own local wallet should be sophisticated enough to use the vault for this transition. Also gives you useful data about market penetration and basic numbers on circulation. Just my quick take on the situation... - OR - Build the upgrade into the new wallet. That way they can just run the upgrade (new wallet) and it will import the wallet.dat file from the old one and create the new balance. If new addresses are required, ET can phone home and have a unique one generated if you want or, do it on the fly like any QT wallet. Some extra code in the wallet but gets you totally out of the picture. Just like any other wallet upgrade to the user. Not knowing all the details of DNotes 2.0, hope I'm making sense. If not, simply disregard! There are a couple issues and risks associated with upgrading the existing blockchain. We are taking the position that it is better, given the circumstances, to take on the burden of the swap process in the best interest of DNotes stakeholders. We will indeed have a deadline for the swap, TBD, and the snapshot will be based on a specific block number. Any newly mined DNotes after that block number will not be eligible for the swap. The exchanges may elect not to participate in the direct swap, in which case they will have to delist DNotes and inform their users to remove their DNotes from the exchange. Then after a period of time, they can relist DNotes as DNotes 2.0. |
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Thank you Dyna for all the clarifications. So in order for 1 to 1 swap to take place we need to sent the NOTES token to your vault account. That kinda not really a convenient process to do so to be honest. Why you don't have the option of Airdrop of NOTES coin to private wallet or may be consider getting a wallet developed for your project before you move ahead with snapshot. This wallet will be useful in future as well.
Rather than asking everyone to send tokens to you, actually it should be delivered to them as your project wants to initiate a swap. Are you planning to get Escrow's for each transfer of Notes to your vault being done during the swap period ?
Hi shade_wrath, thanks for joining us. To clarify - 1 option is opening your own account at https://dnotesvault.com and the DNotes in your own account will be automatically swapped to DNotes 2.0. This is the most convenient option. Option 2, is swapping DNotes by sending in DNotes to receive DNotes 2.0. Another, 3rd option, if any of the exchanges would be willing to participate in the swap process, they could be automatically swapped at the exchange. What does an airdrop entail? |
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