9 Myths Surrounding Blockchain Smart ContractsSmart contracts are a key underpinning of blockchain technology, yet they are still misunderstood in many ways. In the fullness of their deployment, they will be no less revolutionary than the invention of the HTML markup language that allowed information to be openly published and linked on the Web. Smart contracts promise to program our world on the head of blockchains, and potentially replace many functions currently executed by expensive or slow intermediaries. Historically, the concept was first introduced by Nick Szabo in 1994. Smart contracts then had a long gestation period of inactivity and disinterest, because there was no platform that could enforce them, until the advent of blockchain technology in 2009. Now, smart contracts are entering their prime, especially since Ethereum has popularized them further by making their programming a basic tenet of their blockchain's power. Like any new buzzword, the more a term gets popular, the more it spreads around. The more it will get used, but also misused and abused. It will mean a lot of different things to different people.
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Ran across two great articles on blockchain today that are worth a mention. I'll send the other in a separate post. Bitcoin Remains The Sole True Use Case For Blockchain TechnologyIf you talk to a Bitcoiner – or what’s hipper is a blockchainer – you will undoubtedly hear a highly optimistic opinion of the technology behind Bitcoin. And that’s fair enough, as some of the most influential companies in the world entered into a space that not yet a decade old. There are myriads of ideas thrown around about how the blockchain and Bitcoin can revolutionize how the world operates. Blockchain, it seems, can do anything. If you ask some, its a chaordic system – in the Dee Hock spirit – and if you ask others it can create a new digitized superstructure to prop up the institutions that exist today in the world. Blockchain can literally power finance like oil powers the modern economy. Yet, despite the scoffing at Bitcoin that takes place among many of the blockchain participants, there is obviously no doubt that Bitcoin remains by far most useful example of how blockchain can be used. You could even say it is, in fact, the only use-case which has succeeded in any meaningful way. This is important. What if nothing else ever comes to be of blockchain technology? |
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Bitcoin Weekly Recap 3-25-2016Bitcoin.com Owner Ver Challenges Socialist Sanders to Debate PEY Partners with BitPay to Introduce Bitcoin Payroll to Germany Coinsource Installs Bitcoin ATM in San Francisco FISCO Plans New Bitcoin Exchange New Code Valley Platform Makes it Easier for Developers to Earn Bitcoin http://dcebrief.com/bitcoin-weekly-recap-3-25-2016/
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Flawed Economic Stimulus Plan for Canada Helps Bitcoinhttp://www.newsbtc.com/2016/03/24/flawed-economic-stimulus-plan-canada-helps-bitcoin/Unlike the flawed banking system, Bitcoin and digital currency put the end user in full control of their money, wherever they are, at any given time. There is no central oversight, which some people see as a weakness. But stories such as what is going on in Canada goes to show how central oversight is not always preferable when the wrong people are in charge.Regardless of where one looks in the world, financial turmoil is brewing everywhere around us. Canada is no exception to this statement, unfortunately, even though the new Liberal government is planning to invest in people and the economy over the next few years. That being said, this economic stimulus will come at a great cost, and could end up hurting the Canadian economy even more. All of this is indirectly working for Bitcoin and other forms of alternative finance. Boosting Canada Economy Comes at a RiskNearly every economy around the world is facing a problem right now, and government officials are trying to figure out various ways to focus on this issue. The old tried and tested tactic seems to be the most logical way to address these concerns, although injecting a lot of money at infrastructure spending is quite a significant concern. People have to understand that the money required for an economic stimulus has to come from somewhere. In Canada, that means there will be a government deficit three times what was originally predicted during the election last year. As this deficit grows larger and larger, it becomes much harder for Canada to return to a balanced budget. While the numbers on their own might not mean much to some people, there is the topic of how the Liberal government broke just about every promise they made to the citizens before the election. Although it is nothing new to see lies and broken promises in the world of politics, people have the right to be upset and make their voice be heard about as well. To make matters even worse, the Liberal government will be taking virtual control of the Bank of Canada infrastructure, as a new quantitative easing will have to be introduced in the coming months, only adding to the financial instability in the country. Moreover, there will be very little opposition to this stimulus budget proposal as the Liberals hold a majority in the Canadian Parliament’s House of Commons. Although boosting the economy and infrastructure sounds magnificent, the Canadian Dollar will take a beating across the markets as well. While the CAD might not follow the same path as what is happening to the Chinese Yuan, things are not looking overly confident either. But there is more, as bank deposits will be “bailed-in” the next time a Canadian bank needs financial aid. Not something anyone is looking forward to by any means. Bitcoin as an Eye OpenerAll of these economic woes in Canada – and other countries – are only helping the Bitcoin cause, albeit inadvertently. Consumers and enterprises are no longer in a position to put their trust in banks or any other financial institution, as none of them have their best interests at heart. Solving a problem in the short term by creating a new long-term issue is not the right approach, and banks will learn that the very hard way at this rate. Unlike the flawed banking system, Bitcoin and digital currency put the end user in full control of their money, wherever they are, at any given time. There is no central oversight, which some people see as a weakness. But stories such as what is going on in Canada goes to show how central control is not always preferable when the wrong people are in charge. A free market lets consumers and businesses set the price, rather than traditional finance where prices are kept artificially afloat by banks. These same banks require consumers and businesses to bail them out when they are facing financial trouble. Everyone is perfectly capable of managing their own financial future, and Bitcoin lets users do exactly that.  Image source http://www.zerohedge.com/news/2016-03-22/its-official-canadian-bank-depositors-are-now-risk-bail-ins Interesting article. The world needs long term economic solutions and forward thinking leaders. I hope that one day, if a country falls into a economic spiral in which they can't recover, as the result of a mistake or bad planning or whatever the cause, that DNotes will be able to help those people. |
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Noticed a large chuck of DNotes at a good price on Polo. Wish I have a few btc in reserve or I would pick some up.
Thanks Kanus, as much as I hate to see increasing sell pressure, it is a good opportunity for an investor. There haven't been many times that I remember a pretty big amount being available for sale. |
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www.dnotespool.comThis site can’t be reached, dnotespool.com’s server DNS address could not be found. ERR_NAME_NOT_RESOLVED Issues? Anyone else seeing this? Oh weird, I was just there not too long ago. Let me shoot off an email to the owner. *Edit: Before I could send the email it was back up. |
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Excellent find Chase, there are actually a few that are close to me.  |
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Welcome TimTayshun to the DNotes thread! Thank you for sharing your experience and thoughts on OneCoin. There does certainly appear to be strong reason for doubt that this is a legitimate enterprise that one could feel comfortable with. Hopefully your posts will help answer some questions for folks that may have been interested in it.
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It makes sense to me. It is a fairly easy to use an accept form of payment, maybe not 100% ideal yet but it will get there fairly soon. I think we all understand there are economic problems and potential for issues, so why take proactive steps. |
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Though I haven't spent much time researching their model, I steer far away from any MLM type schemes that rely on tiered recruitment. They should rename it "MadoffCoin"  It is a shame that we are still seeing a lot of questionable activities going on in our industry. Agreed but, lets take that a step or two further shall we? It's a shame we are still seeing a lot of questionable activities going on in the financial industry. I think we are pretty much following the curve in that regard. It takes a long time, longer than crypto has been in existence to shake out the obvious crooks and scams. And, even having done that, the less obvious and smarter schemes will always remain just under the radar. And this is something we have always lived with and, I fear, will always live with. Human nature is sometimes our worst enemy but, it can also be our best friend. Depends on what side your on... Just discovered this - Cryptopreneurs Radio has been heavily involved in OneCoin since October. They are currently having a OneCoin-hour show because of the scam headlines. Tough Talk Radio @TTRNetwork 47m47 minutes ago Katy, TX http://tobtr.com/s/8547909 #Cryptopreneurs #OneCoin @SusanKherkher @randystrain http://www.blogtalkradio.com/toughtalkradionetwork/2016/03/23/cryptopreneurs-radio-with-tony-gambone-and-linda-ballesterosThat should be interesting. I'll put it on in the background. All the signs are there staring these people in the face but they refuse to accept the truth. http://cointelegraph.com/news/one-coin-much-scam-onecoin-exposed-as-global-mlm-ponzi-schemeI hear you, RJF. We all live in a very challenging world with the good, the bad, and the ugly in terms of human behaviors. There are many things we are up against that we wish we can change, but will result in vain even if we try. The best that we can do is to ensure that DNotes will provide a worthy alternative to those who believe that we will protect their best interest before ours. Well, we will see how long they last. This crap attracts lots negative attention to the crypto-currency industry, people are drawn to the bad news and then paint the whole industry with that brush. I wouldn't worry too much though, Bernie Madoff fleeced thousands with his scheme. Last time I checked, Wall Street was still there and prospering! Absolutely! By the way, about halfway in to the talk show. I can see why it has attracted them, essentially they want to be early adopters without having to learn exchanges and mining and wallets and security, and all the complexity that comes along with being a digital currency early adopter. They also talk about bitcoin and onecoin as if they are the same thing "bitcoin or onecoin or whatever you call it", I think they are a bit confused. In fact, I think if they knew DNotes like most of us here, they would likely be really interested. The DNotes team does understand the complexity and confusion issue, and we are taking steps to remove most the complexity and confusion, but it will take some time before we can fully execute that plan. |
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Though I haven't spent much time researching their model, I steer far away from any MLM type schemes that rely on tiered recruitment. They should rename it "MadoffCoin" It is a shame that we are still seeing a lot of questionable activities going on in our industry. Agreed but, lets take that a step or two further shall we? It's a shame we are still seeing a lot of questionable activities going on in the financial industry. I think we are pretty much following the curve in that regard. It takes a long time, longer than crypto has been in existence to shake out the obvious crooks and scams. And, even having done that, the less obvious and smarter schemes will always remain just under the radar. And this is something we have always lived with and, I fear, will always live with. Human nature is sometimes our worst enemy but, it can also be our best friend. Depends on what side your on... Just discovered this - Cryptopreneurs Radio has been heavily involved in OneCoin since October. They are currently having a OneCoin-hour show because of the scam headlines. Tough Talk Radio @TTRNetwork 47m47 minutes ago Katy, TX http://tobtr.com/s/8547909 #Cryptopreneurs #OneCoin @SusanKherkher @randystrain http://www.blogtalkradio.com/toughtalkradionetwork/2016/03/23/cryptopreneurs-radio-with-tony-gambone-and-linda-ballesterosThat should be interesting. I'll put it on in the background. |
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 Our network currently has a hashrate that is 1/4 of the Litecoin network's! It's been around or over 200 GH/s for the past 6 hours! Interesting, http://www.coinwarz.com/cryptocurrencyThat hashrate puts us pretty low on the profitability scale, we'll have to keep an eye on it. |
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I've never heard of them Is OneCoin a kind of "company" or is it an actual digital coin? I wasn't able to get a sense of exactly what they are luring people into from the article. I recommend reading some of the claims here: https://www.onecoin.eu/page/details/opportunityDisclaimer: Posting these links for informational purposes only and this is by no means a recommendation of any sort. |
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Though I haven't spent much time researching their model, I steer far away from any MLM type schemes that rely on tiered recruitment. |
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Great information being posted on the forum lately!
The book is shaping up nicely it appears. I'd like to order at least 5 - 10. I'll give a copy or two for book chains to analyse, or hopefully we can find a way to sell it over here... Actually, I might just distribute it directly and market it directly if we aren't able to get it stocked on bookshelves in little ol' New Zealand. I don't know how the distribution networks work for book store chains, but hey, it could keep the margins for the DNotes company much higher - i.e. Payment made to DNotes website, and I distribute by post nationally. I'll support the book however I can.
Kickstarter page, and social media presence will be the next step. Also got a couple ideas in the works for DCEbrief articles (to follow) - namely a rework of a letter I wrote about how crypto, and blockchain could affect legal professions like law.
It would make for great information for legal firms to see what the future may look like, and get on board with blockchain early.
I'd also like to write more about "currency", what it is, and why it is better than "barter" - to revisit in plain English some monetary theory, and why cryptocurrencies are better than gold. As an example, many people advocate gold as a reserve currency because it's "function as money" increases the value of gold significantly above its intrinsic value. When people "consume" gold as jewellery or any other personal use, gold is taken out of the "money market", which further lifts the price of gold. People will of course never do this, if the "price" of gold exceeds that of its intrinsic value (as jewellery, or any other use). Consider golds potential ability to act as a "means of exchange" to add a surplus value to its price.
By this logic, that surplus is what gives crypto-currencies its value - or fiat currency. It's mean of exchange. Crypto does this more efficiently than fiat money does - which is not lost on anybody here. Of course, throw in DNotes plan to give each unit of currency an ownership stake in a profit-generating company, you have a unit of currency that both has intrinsic value from acting as a medium of exchange, and as a ownership claim against a company.
Genius.
Be in touch.
Thanks TeeGee! We will be making every effort to have it published and sold across the globe, eventually translated into many languages, and it will certainly help if you can contact local chains. There is a lot of preparation work going on right now, but will have more details as we get closer to publishing. That is excellent, we could use a few more of your articles. The membership site is coming together and we are working to launch it and the kickstarter shortly. This will help us to start getting word out prior to the actual launch of the book. Exciting times just ahead, stay tuned. |
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Thank you, RJF. We will be launching it through KickStarter to drum up initial support for the project with a small pre-sell target. Anyone who can support me with a small pledge to buy a copy of the book will be greatly appreciated.
You can count me in for a copy, can I pay with Bitcoin? I really don't want to spend any DNotes because the future of DNotes is looking very bright! Well, for the kickstarter portion, we will only be able to use what kickstarter accepts. Which at the moment is only debit/credit cards. Other forms of payments will be available after the launch, kickstarter will begin prior to launch. Wow - lot's of interesting info on the DNotes' thread today! I'll take 3 or 4 books.  As always, appreciate your support Chase! |
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Thank you, RJF. We will be launching it through KickStarter to drum up initial support for the project with a small pre-sell target. Anyone who can support me with a small pledge to buy a copy of the book will be greatly appreciated.
You can count me in for a copy, can I pay with Bitcoin? I really don't want to spend any DNotes because the future of DNotes is looking very bright! Well, for the kickstarter portion, we will only be able to use what kickstarter accepts. Which at the moment is only debit/credit cards. Other forms of payments will be available after the launch, kickstarter will begin prior to launch. |
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