I kind of assumed this would be one the issues banks and financial institutions would take up with public blockchains. Privacy is important for people to make everyday transactions. Which a public blockchain does provide, until the user identifies themselves in some way. However, the financial industry probably wants to completely hide all forms of transactions from the public. It is interesting indeed. |
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Just for your reference: How 420,000 might be bitcoin’s magic numberDaniel Masters Director at Global Advisors Bitcoin Investment Fund Plc. Apr 20, 201621 views2 Likes0 CommentsShare on LinkedInShare on FacebookShare on Twitter 28th November 2012 was a slow news day. There was a lunar eclipse -- the second that year -- and it was the first day since 1990 that the NYPD reported that no one was shot, stabbed or slashed in New York. There wasn’t much to report. And while journalists around the World searched for a scoop one small story went uncovered – the reward for mining a block on the bitcoin blockchain had just halved. Commencing in January 9th 2009 when the Bitcoin blockchain initiated, each and every one of the 209,999 blocks mined, created at a rate of approximately one every ten minutes, in an uninterrupted 24/7/365 operation, had attracted a new, autonomous creation by the network itself of 50 new, never before seen, bitcoin. A lot had changed since 2009. The first block mined had 1 transaction (the special “coinbase” transaction that captures the reward) and no other activity. By 2012 the network size and activity had grown significantly and there were 543 transactions in the “pre-halving” block. The next block mined, at a height of precisely 210,000 blocks, as codified years earlier by Satoshi Nakamoto, had a 25 bitcoin reward. So what? Nothing much happened. However, a few months later the value of a bitcoin had increased dramatically. Prices had been steadily increasing as the halving approached, they ended 2011 at $7, and rose to $11 by September, 2012. The high tick by April 2013 was $259. Needless to say bitcoin has demonstrated stomach-churning volatility in the past and this meteoric rise met with considerable turbulence. None of this may in fact have had anything to do with the halving, it’s impossible to determine that one way or the other. But even so, there had certainly been an extraordinary chance to profit. So now we look forward to the next pre-ordained halving, at a block height of precisely 420,000. We sit at 408,138 at the time of writing, with the next halving expected on or around 11th July 2016. At that moment the 25 coin per block reward halves again, to 12.5 It is interesting to think about whether we will see another price rise following this next event. I’m confident that there won’t be fireworks on the day itself, and indeed there is some prospect that prices will rise in advance of the event, fully discounting the effect ahead of time. I don’t see that happening currently. At this moment the value of all bitcoin in circulation is $6.7 billion. At the old rate of issuance, that puts $575m of new coin in circulation per year. Prices so far in 2016 have been relatively stable. That tells me that there is enough new investment and real time demand to match the creation of $575m new coin. It seems obvious that if that dollar-sized demand persists, which I believe it will, that the price of bitcoin must rise to meet it. Naysayers and haters will say -- in addition to the normal criticism of bitcoin -- that a drop of $288m per year in supply is not meaningful when compared to the $6.7 billion inventory. That’s not how commodities work. Just think about what happened recently in the oil market. Taking the USA alone we now have more oil and refined products in inventory than since records began, over 2 billion barrels. Yet the price of oil has risen 60% from the $25 low point early in the year. OPEC has hinted that the oil production introduced to the market will no longer rise. This will do very little indeed to change the inventory picture. It will remain engorged. So why the massive rally? Because commodities price on the rate of change of inventory, not on inventory. When bitcoin dipped in price in June 2015 I stated passionately prices couldn’t remain in the 200’s https://www.linkedin.com/pulse/elliptic-curves-fermat-bitcoin-daniel-masters?trk=mp-author-card I’m equally convinced that today, a price of $440 is, once again, too low. Source: https://www.linkedin.com/pulse/how-420000-might-bitcoins-magic-number-daniel-masters?trk=hb_ntf_MEGAPHONE_ARTICLE_POSTGuy sounds knowledgeable and makes sense. I need to find some money to get some more bitcoin and dnotes. Exciting times ahead for our industry and DNotes! The post does make sense, but you never know what is actually going to happen. During the last bitcoin halving, it didn't have the market or volume. It will be interesting to see what happens. |
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Great article Thomas. Like - "The central location in the network of payments ensured banks were always best placed to introduce currency into circulation. However, the internet has broken that relationship and enabled digital currency to be circulated without the banking system itself, the logistics that became the norm for the banking industry worldwide simply no longer apply after the growth of easy internet access for the majority." This is one of my favorite articles from Thomas, lot's of good points raised, I'm glad to see you pointed that out. |
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This is a good one! There's no need to read the whole article, it's just confirmation of what we already know. The fact that it is coming from the mainstream shows the evolution starting.  Should you give your kid a digital allowance?Children as young as five are getting their own debit cardsCall them the “electronic wallet” generation, or the “swipe” kids, because no longer is the allowance debate about whether or not to pay their children to do chores. The conversation now surrounds getting children as young as five their own debit cards. “It’s a personal decision,” says Shirley Malloy*, an associate vice-president at Toronto-Dominion Bank. “But there are definitely benefits for children or pre-teens to having their own debit card. First, it reflects our current reality around technology. It’s also a learning opportunity.” Malloy says parents can set a daily limit, so they take an active role in their children’s spending and saving habits, rather than just hand out cash once a week. “You can teach your child to be independent, to protect passwords, to think before they spend, and to pay themselves first.” Proponents of the plastic allowance say a first debit card is a modern passage into adulthood. It allows parents to easily transfer allowances into their children’s accounts whenever they want; kids can access the money with the swipe of a card. They don’t view it as a passport to profligacy. Some parents simply find it safer than young kids carrying cash. In fact, the e-allowance route, as opposed to handing cash to kids, who will rarely keep receipts for what they purchase, has its advantages, they argue. http://www.moneysense.ca/spend/should-you-give-your-kid-a-digital-allowance/Absolutely! Someone should send the author your article http://dcebrief.com/cryptocurrency-is-the-perfect-playground-for-kids-to-learn-about-investing/ |
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mmm maybe a cloud mining platform owned by DNotes for vault users.
or more radical protocol/algo change to DPOS like protoshares its ecologic and i think match perfectly with DNotes market sector, always can be mined in multipools, and can deal delegates with potencial parthners.
own exchange just for trade it for another moar popular coins, just simple one to keep integrated with other alts comunities
Some kind mechanism to give rights to other person just the case a fatality not loose coins
predefined models or assesoration department to help bussiness adding/use DNotes features
some kind of vote to heard customers/comunity/holders thinking
DNotes raspi plug and play, so people if wanna help decentralice network, and maybe a special private pool just for them with bonuses
i got this error in web book
Conexión segura fallida
Ha ocurrido un error durante una conexión a fourpillarsofbusinesssuccess.com. El servidor OCSP sugiere que lo intente de nuevo más tarde. Código de error: SEC_ERROR_OCSP_TRY_SERVER_LATER
Good suggestions infovortice, I will add them to my tracker. The error on four pillars site. See if it cleared on it's own? |
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Good morning. I am just dropping in to say hello to everyone. The book will be completed by next week and be ready for the final round of editing before publication. It is an amazing book for anyone in business, as well as employees interested in a successful career path. Be sure to read the DNotes Story at DCEBrief or LinkedIn if you have not done so. http://dcebrief.com/the-dnotes-story-an-unfolding-big-bold-idea-of-global-scale/https://www.linkedin.com/pulse/dnotes-story-unfolding-big-bold-idea-global-scale-part-alan-yongOn the technology side, I am already on the look-out for talents and potential partnership. There is some very interesting discussion going on. We have a very clear vision for DNotes. Our missions, goals and objectives are clearly defined. We are now fine-tuning our strategies and will continue to execute them effectively. We are always about aiming to be the best in class and doing the right thing at the right time. Our next phase is about identifying technology problems, challenges, and limitations and develop viable solutions to overcome them. The next few years will be immensely exciting. Stay tuned. After reading the DNotes story I'm sure the book will draw in the right people to get more involved. Looking forward to reading the ready I'd the book as well. It most certainly will, We previously had a big list of potential upgrades didn't we? Some of them will have been technical in nature - or upgrades to the DNotes blockchain. That is perhaps a conversation we should resume to on this forum - what do we think will be the most vital technical upgrades to the DNotes ecosystem / blockchain? Thanks, TeeGee. That is a great idea. In the DNotes Story, you included a great quote from, "{Arnold H. Glasow probably said it best when he said “Success is simple. Do what’s right, the right way, at the right time.”}" Now is the right time to develop a wish list for technology upgrades. Beginning the 2nd half of this year our major focus is on technology upgrades with strong emphasis on R&D related to our industry. We will examine known industry technical issues and limitations with an open mind and address the most appropriate ones with viable solutions. Remember, we have very clear visions going forward. DNotes is being positioned to be the trusted digital currency for everyone world to participate with no barriers to small savers. DNotes will supplement, not replace, global fiat currencies. We will focus on the three main components: the currency, the global payment network system, and the under-pining blockchain technology, including smart contracts. Wish List For Technology Upgrade: 1) Resolve scaling problems 2) Advanced Global Payment Network Systems with full security Suite and Mobile Applications. 3) Instant confirmation at checkout. .......... You are encouraged to add to this list. 1. A super simple, anyone can use it, wallet. A totally new design without all the more or less un-needed functions in the standard one. 2 .An API or hook that allows DNotes to be integrated with many/any software such as QuickBooks and payment systems. 3. Also integration with Chrome, Firefox and IE (Edge) 4. Direct conversion to other cryptos and fiat. I know the goal is to do away with these eventually but, for right now, it's still needed. Oh, and one more, a Help Desk with a person at the other end. Novel idea in crypto but needed in finance. Thank, you RJF. Nice additions. May have to sell a lot of books before adding a help desk, lol. I have read in several different places that the bitcoin conversion to fiat at point of sale is still an obstacle for many merchants. Just curious - who offers the best conversion system(?) and what could we do to beat it? DNotes Vault - multi-signature account/wallet for charities and business - is it possible to have a "DNotes accepted here" button as a selection through the vault? A certain address could be set up at your account that could be used for charity and fundraising (even small scale like kids sports teams), content tipping, etc, as well as advertising for DNotes. The button could be (one-step) copied to your blog, website, social media, etc. It could also be a good way for some people to also build their retirement account (fundraising for retirement not allowed - lol). That's a really good idea Chase - it seems relatively simple to put together, and kinda ties into RJF's point about integrating it into Chrome / Firefox etc. I wonder if it would be difficult to have it so that each session of Firefox can be tied to a DNotesVault account or whatever. It is not a bad intermediary step towards the end goals of a massive upgrade. It could be geared for more near term. Excellent suggestions everyone! I will keep track of these. |
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Community AnnouncementSafecex is down. 'We are interrupting our operations for some time. We are having issues with our server provider. Servers are constantly crashing and we spent the last two weeks rebooting and fixing wallets. So we'll take some time (a few weeks maybe) to find a new host and redeploy. In the meantime, you can withdraw your coins. Your withdraws may take up to 24 hours to process but they will all be processed. We havent lost any coin, we just cant run all wallets at once. If you dont withdraw, your coins will still be available when we reopen.' EDIT: tee hee I had Yobits' link here. But it's: https://safecex.com/site/loginUnaccountably, I have a good feeling about how it will go; but this is the present situation. Mark Bump: my withdrawal came through. Good sign. Excellent, glad to hear it Mark. |
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Great article from blockchain.info's co-founder. Blockchain Co-Founder Nicolas Cary: You Can Be Your Own BankThis is a particularly important topic: "We are looking forward into the future and we think we are going to continue to be able to provide financial services for a millions of people around the world and there is no financial system on the planet that can compete with that today. The use-cases for a Bitcoin continue to evolve. Right now we see cross border payments as having a great potential, as well as digital payments for digital goods being very popular - people buying songs online, people buying digital content and games, things like that".He sees microtransactions as an interesting and evolving use-case of Bitcoin. However, it is still rare, because of the underdevelopment in fee-structures and scaling protocols. |
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Blockchain Weekly Recap 4-16-2016R3 CEV Unveils Eight PoCs at New York Conference TransActive Grid Brings Energy to the Blockchain EU Parliament to Host Blockchain Tech Conference Bitcoin/Blockchain Meetup Slated for Belarus Standards Australia Sends Proposed Blockchain Standards to ISO Life.SREDA’s Banking on Blockchain Fund Targets Mid-Size Financial Companies Fed’s Brainard Strikes Positive Note on Blockchain http://dcebrief.com/blockchain-weekly-recap-4-16-2016/ Looks like blockchain had a good week. Love the TransActive Grid energy solution idea, decentralize power, make it more competitive and cost effective while allowing everyone to participate. Agreed kanus that is a very interesting concept and might help create more green power. |
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Blockchain Weekly Recap 4-16-2016R3 CEV Unveils Eight PoCs at New York Conference TransActive Grid Brings Energy to the Blockchain EU Parliament to Host Blockchain Tech Conference Bitcoin/Blockchain Meetup Slated for Belarus Standards Australia Sends Proposed Blockchain Standards to ISO Life.SREDA’s Banking on Blockchain Fund Targets Mid-Size Financial Companies Fed’s Brainard Strikes Positive Note on Blockchain http://dcebrief.com/blockchain-weekly-recap-4-16-2016/
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That makes a lot of sense. Privacy is a very hot topic in the US and citizens here have a right to privacy, at the very least the citizens should know exactly what is happening and how it impacts them. |
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Thanks Mark! Reading carefully. |
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There are some excellent ideas and very smart businesses in there. Between the Four Pillars of Business Success and CryptoMoms, would it be great if we could help these startups progress. |
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Bitcoin Weekly Recap 4-15-2016New Bitcoin Core Sponsorship Program Announced Coinapult Bitcoin Solution for Telegram Network New York’s itBit Ends Services to Texas Residents Bitcoin Conference Prague Begins in May Genesis Mining Highlights Opportunity for Bitcoin if Remittances to Mexico are Halted http://dcebrief.com/bitcoin-weekly-recap-4-15-2016/
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