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Author Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay  (Read 148704 times)
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September 29, 2018, 12:08:24 PM
 #5561

Indeed, it has always been our focus to build value into our ecosystem, rather than hope that speculative traders can propel DNotes forward. We have a lot going on that will certainly add significant value to our ecosystem. Once value has been created, this is the juncture that people begin to realize that you are onto something special, and prices may begin to closer reflect that increased value and be much more likely to be sustainable at that level.

We are always very appreciative having you stopping by Amadeus82. We also hope that the market will continue its early signs of recovery which may lead to some more positive headlines in the mainstream media.



TeeGee it is my pleasure stopping by and get some updates, DNotes team always answers the question which I post here, which is a thing that I really appreciate. That's a rare quality in the crypto world Wink

I know that DNotes is not building just the coin, but the whole ecosystem and that takes time Smiley Since I see that you are all very active and are really working hard on making your vision come to life, I have no problem with patiently waiting for more updates. I'm sure that with the time, as ecosystem grows, also will the price of the coin Wink Cool
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September 29, 2018, 02:21:58 PM
 #5562

Malta’s New Crypto Laws to Go into Effect Nov 1st

https://dcebrief.com/maltas-new-crypto-laws-to-go-into-effect-nov-1st/
Which sort of New Crypto Laws in Malta will have significant impacts on DNotes?
Has Dnotes had large customer population there?

Welcome DarkKnightNeverDie. DCEBrief is owned by DNotes Global and part of our ecosystem. In order to achieve digital currency mass adoption, we believe in taking a holistic approach, including media and outreach.

From the DCEBrief mission statement:
"DCEBrief is committed to focus on bringing issues that matter to your attention, utilizing an “Executive Summary” without fluff and filler. When appropriate, we may also include full length articles. Our mission is to keep you informed with timely information. We will need the cooperation of the mainstream media and the full support of our political leaders and regulators to help promote and not stifle innovation for the better good of mankind."

However, we also feel it is important to keep up to date with the latest news in the industry as it relates to DNotes.

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September 29, 2018, 04:01:33 PM
Last edit: September 29, 2018, 04:25:07 PM by TeeGee
 #5563

Indeed, it has always been our focus to build value into our ecosystem, rather than hope that speculative traders can propel DNotes forward. We have a lot going on that will certainly add significant value to our ecosystem. Once value has been created, this is the juncture that people begin to realize that you are onto something special, and prices may begin to closer reflect that increased value and be much more likely to be sustainable at that level.

We are always very appreciative having you stopping by Amadeus82. We also hope that the market will continue its early signs of recovery which may lead to some more positive headlines in the mainstream media.



TeeGee it is my pleasure stopping by and get some updates, DNotes team always answers the question which I post here, which is a thing that I really appreciate. That's a rare quality in the crypto world Wink

I know that DNotes is not building just the coin, but the whole ecosystem and that takes time Smiley Since I see that you are all very active and are really working hard on making your vision come to life, I have no problem with patiently waiting for more updates. I'm sure that with the time, as ecosystem grows, also will the price of the coin Wink Cool

Agreed Amadeus82, to bring a vision to life requires using your opportunities and timing wisely -- to be the last one standing, rather than just the first. We see a lot of people trying to blazing ahead on what they think 'the answer' is to crypto adoption with large amounts of money that they never earned and/or acquired easily through an ICO. While some of the contributions to the industry are noteworthy, many of them become redundant very quickly, and in many other cases the large cash burn rates of these projects mean that the majority will not be able to continue operations once the funding dries up, since it remains unlikely their product will catch on and that their revenue will ever be able to match the spending rates they are accustomed to.

Say I give a hypothetical example for just one year of operations for a typical ICO might look like:

1. I raise $15m of Bitcoin+Eth in a new coin called "Tim ICO". Balance = 15m
2. I need to pay $1m of the proceeds for the marketing partners that I used during the raising process. Balance = $14m
3. I pay myself and my core team of 5 people a yearly salary of around $200k USD (This is a LOW estimate). Balance = $13m
4. I pay to attend and speak at 5 conferences (~250k) to promote the ICO and brand. Balance = $12.75m
5. I pay 1m for lawyers, accountants and various licences in the countries that I choose to operate. Balance = $11.75m
6. I lose an average of 30% of average sale price from Bitcoin volatility (presuming I was selling my ICO proceeds in tranches over time for the entire 15m, so losing $5m). Balance = $5.75m
7. Have to pay for exchange listings (500k to 1m to get on 2 or 3 medium to large exchanges -- cost for exchanges with only 15-20m in *fake* daily traded volume is usually 100-150k). Balance = $4.75m.
8. Pay for core development of a medium-sized platform - easily 1m. Balance = 3.75m.
9. Salary for ongoing retained developers on the payroll for releasing new apps and maintenance etc -- let's assume five developers are 70-100k each (probably more), just assume 400k. Balance = $3.45m.
9. Administration, support team, and other internal hires for a medium sized project - 1m easily. Balance = $2.75m.
10. Depending on the variances in the above, a project like the one described could have entered year two with $0, or anywhere up to perhaps half of the initial funds raised. It is likely the second year would eat the remaining investment, but year two is also likely to cost a lot less to continue operating than the first year where most costs were for setup of the venture. In some cases Bitcoin volatility could have led to the venture having a lot more than it started if they carried out their ICO when Bitcoin was worth 2k USD, and then sold at the top at 20k. There are a lot of variables.

*Some costs in the above hypothetical example may be less, but in many cases they will be MUCH more.

The point is, observation is showing that many ICO projects are big spending in an effort to get ahead, however many of these expenditures are much greater than they should be or need to be. In many cases, the effect of big spending marketing at conferences, advertisements, PR firms, exchange listings etc have very short-term effects on the price of the token. The entire token market cap in some cases becomes worth less than the amounts paid in marketing budget. Think of conferences in our industry for example -- it is not uncommon for a project to pay 50 thousand to 250 thousand dollars to get a talking spot at a blockchain conference. There is very little benefit for an ICO project to pay such a fee to speak (especially if they've already raised their funding), and its sore news for attendees who are only listening to somebody because they paid to speak, rather than because they have any expertise. These conferences that C-level executives from ICO projects pay to speak at, are not paid for to benefit the projects ecosystem whatsoever, but more to boost the personal brand of the speaker so that they can become famous, and boost their credibility for their future business endeavors in the industry when they create their next ICO.

Over time, this free spending becomes a drain on the venture, and what may have begun as rapid progress turns into a cash burn that can't be sustained. I'm certain that there are almost no ICO projects that are turning a positive cash flow that is great enough to pay for prior levels of expenditures at the moment, which means that once the funds begin to run low, employees begin to get dropped, marketing budgets reduce, and the projects are forgotten in time. Think of how many ICO projects you heard about six months ago that were 'all the rage' -- how many of them do you hear about today? How many of them are worth even 20% of what they were at that date? The point I'm illustrating here is that massive marketing budgets, and free-spending hasn't really helped them in the long term. It just enriched the people behind the project.

By comparison, the compliant business models that we are beginning to see emerge use funding from equity investors to fund operations, rather than ICO investors who are owners of an intrinsically worthless token. This means there is a much greater incentive to spend money wisely where there is likely to be a return on investment. There are no quick 'exist strategies' when it comes to equity investment projects, compared to ICO markets where the developers can just quickly sell all their coins after their marketing created the desired pump. Seeing the coins still held by project developers from ICO projects would be information I'd be most fascinated to see. While many ICO projects are still well-funded, most are quickly running out of funds, and will die (it's unlikely they'll be able to attract private investors for equity, and if they do, it just means the ICO was a ruse to enrich the developers and getting everyday people to pay for the development, and not the wealthy equity investors).

At the end of the day, the number of ICOs is falling rapidly, and most of the ICOs that are trying to raise funds are not getting anywhere near their desired funding targets. If this trend continues, it means there are likely to be far fewer free-spending ICO projects around distorting the prices of everything in our industry (exchange prices, conference prices etc), because they'll all be running out of cash to burn and there will be fewer new projects entering the market.

I predict most projects will move to private placement under Reg D and Reg A+ (which this is already beginning to happen), and much more sensible spending by those projects, because they will be accountable to their investors.

With all of the above, the basic thought behind it is that without a sensible business plan, you can only spend other people's money without consequences for so long--until you can't. At that time, you remove yourself from competition, and the people are the last ones standing--that didn't waste all their money--will be the winners.

Now just imagine what a sensible spending company armed with 15m or even 50m could achieve in the long term?

...and those are my unstructured thoughts for the day, wasn't expecting to write so much. Might paraphrase the above into an article.




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September 29, 2018, 08:41:39 PM
 #5564

Whooo Tim, that was really well written!

I have seen the situation about ICOs which you are describing so many times now, that I stopped counting Shocked About a year ago where whole market was growing rapidly there was an explosion of ICOs and everybody was talking about them. I have been monitoring the progress of some and I must say that many of them are already dead and most of the rest are also on that path Roll Eyes In many instances the teams are not even posting or responding on Twitter, Bitcoin form or other social platforms anymore...and on the Telegram groups of those coins, there is just a bunch of desperate people asking the same question "when moon?" all over again Roll Eyes

Seeing all that I appreciate the DNotes and the team behind it even more Wink I'm sure that in time more and more people will realize the quality of your work and why you are different from most of the "when moon?" coins out there...  Smiley
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September 29, 2018, 10:03:16 PM
 #5565

Hi DNotes, could you please tell me why the DNotes wallet show maintenance mode on Mercatox?

Hey BTCWise, everything is fine on the network. They seem to do a lot of wallet maintenance. I would recommend opening a support ticket. If it takes more than a few days, let me know and I will get in touch with them.

Hi DNotes, just wanted to let you know wallet is still showing maintenance mode. Could you please try to get hold of them cause its taking forever for them to respond to my support ticket. Hope I am not causing any panic. Not my intention. Regards,

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September 29, 2018, 10:30:29 PM
 #5566

Congress Calls for SEC to Clarify Position on Crypto Regulation

https://dcebrief.com/congress-calls-for-sec-to-clarify-position-on-crypto-regulation/
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September 29, 2018, 11:37:42 PM
 #5567

Hi DNotes, could you please tell me why the DNotes wallet show maintenance mode on Mercatox?

Hey BTCWise, everything is fine on the network. They seem to do a lot of wallet maintenance. I would recommend opening a support ticket. If it takes more than a few days, let me know and I will get in touch with them.

Hi DNotes, just wanted to let you know wallet is still showing maintenance mode. Could you please try to get hold of them cause its taking forever for them to respond to my support ticket. Hope I am not causing any panic. Not my intention. Regards,

Hey BTCWise

Did you happen to catch the news?
https://mercatox.com/news/news-mt

It looks like a good chunk of the cryptos are still down, most of the tokens are up and running though. I'll reach out to them but I suspect they will take some time with this.

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September 30, 2018, 03:43:48 PM
 #5568

Congress Calls for SEC to Clarify Position on Crypto Regulation

https://dcebrief.com/congress-calls-for-sec-to-clarify-position-on-crypto-regulation/


The SEC has guidelines for raising money. If you raise money from investors they want to know who is responsible for the money raised, what it is raised for, and the proper reporting and disclosure. There are also guidelines for who you can accept money from and in some cases how much money you can accept from them, depending on which type of fundraising program you have chosen. These are all important factors for consumer protection and handling fraud.

The SEC chairman Jay Clayton has already stated he is not going to change the securities laws for crypto. To me that means regardless of whether or not you are selling a token to raise funds the same rules and regulations apply. This is why we have chosen equity fundraising for DNotes Global through the Reg D 506 (c) program initially.

Alan also has a great interview regarding this here: In Interview, Alan Yong Addresses ICOs, NextGen VC, and Regulatory Compliance

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September 30, 2018, 03:44:26 PM
 #5569

Wondering what DNotes is all about? Here’s the basics:

What is DNotes?
•   DNotes is a digital currency with a purpose: to serve as a real currency that people can use in their daily lives - unlike other digital currencies that focus on solving niche problems, with no plan to become a real, usable currency.
•   The DNotes goal is simple: achieve mass adoption and become the world’s first accessible, inclusive, and financially empowering digital currency that benefits everyone around the globe.

What are DNotes’ Benefits as a Currency?
•   DNotes is managed as a business – but not controlled as one.
•   DNotes success is driven by a profit-generating company, DNotes Global, created to promote mass adoption, protect the currency, and ensure sustainable growth.
•   DNotes’ unique CRISP savings program rewards DNotes owners with 0.5% interest, every month
•   DNotes offers staking rewards for stakeholders – at 2% a year.
•   DNotes provides blockchain invoicing features to simplify merchant acceptance and adoption of the digital currency.

What Benefits Does DNotes Global Provide?
DNotes Global protects DNotes and its stakeholders, promotes mass adoption, and creates value and utility for the digital currency, including a fully integrated ecosystem.
The company provides a unique cross-ownership model, with DNotes owning 25% of DNotes Global (pre-dilution), while the for-profit business maintains a stake in the digital currency.
DNotes Global generates profit, creating intrinsic value for the DNotes currency to help create a “floor” for the digital currency’s value.
DNotes Global has plans to build a long-term competitive advantage by offering services that utilize DNotes. That strategy will also help to facilitate awareness and adoption of the DNotes currency.
Long term competitive advantage DNotes Global will provide in offering services that utilize DNotes.

What’s Next?
Fully compliant Reg D 506 (c) crowdfunding followed by a Reg A+ Mini-IPO.
DNotes Payment Solution Integration into Existing eCommerce Platforms
Cold Staking Implementation & More

Where can I learn more?  
Pitch Deck - https://dnotesglobal.com/PitchDeck.pptx
Pitch Deck Video - https://www.youtube.com/watch?v=XculeWKdbbE
White Paper - https://dnotesglobal.com/white-paper/
Website - http://dnotescoin.com/
Blog - http://dnotescoin.com/blog-main-hub/




DNotes Pay


DNotes Pay Digital

Use: Selling individual products from a website that can be delivered automatically via a download link or directed to a specific webpage without collecting any information from the buyer.
Integration: Can be integrated into any PHP website.
Instructions:
Edit address.txt and add your DNotes addresses, 1 per line.
Edit index.php and change the 6 Config values at the top.
Upload all files to your web site.
Link to this page via hyperlink or button to accept payments.

https://www.youtube.com/watch?v=4tLDY3RPSbc&t=545s

Features:
Universal PHP/Javascript script.
No database required.
Automatic payment confirmation and product delivery.
No buyer information required.

Script:
https://github.com/DNotesCoin/dnotespay-digital-poc


DNotes Pay Digital - Wordpress Plugin

Use: Selling any number of individual products from a Wordpress website that can be delivered automatically via a download link or directed to a specific webpage without collecting any information from the buyer.
Integration: Can be integrated into any Wordpress website.
Instructions:
Download the plugin and install on your Wordpress website.
Configure your DNotes Pay payment button.
Place the shortcode where ever you would like on your Wordpress website to display the purchase button.

https://www.youtube.com/watch?v=OqKmqHiIXGk

Features:
Easily install on any Wordpress website.
Sell any number of individual products.
Automatic payment confirmation and product delivery.
No buyer information required.

Download Plugin:
https://github.com/DNotesCoin/dnotespay-wp-digital-poc/releases

Source:
https://github.com/DNotesCoin/dnotespay-wp-digital-poc


DNotes Pay Software

Use: Selling software on a Pay Per Period or lifetime purchase automatically and without collecting any information from the buyer.
Integration: Can be integrated into any program, C# example provided.
Instructions:
For C# and .NET applications, modify the code example and integrate into your program.

https://www.youtube.com/watch?v=9myDnwR7SF0

Features:
Automatically accept payments for use of your software.
Novel Pay Per Period model.
Add in any additional security your program may require.
No additional requirements.

Script:
https://github.com/DNotesCoin/dnotespay-sw-poc


DNotes Pay Checkout

Use: Selling products and services for DNotes in your own online shopping cart / web store.
Instructions:
https://github.com/DNotesCoin/dnotespay_checkout/blob/master/README.md

Features:
Buyers do not have to wait for blockchain transaction confirmation to finalize their purchase.
Minimal requirements, PHP and database capable hosting.
Flexible solution, integrated with any checkout system including custom carts.

Script:
https://github.com/DNotesCoin/dnotespay_checkout


What's next?

Integration scripts and plugins for popular eCommerce platforms and shopping carts.







DNotes 2.0 Frequently Asked Questions:

Q: What is new with DNotes 2.0?

A: DNotes 2.0 is a major improvement on the original DNotes blockchain. The new blockchain will allow DNotes and its partner company DNotes Global to achieve its objective to connect DNotes to the modern world of finance and commerce. The new blockchain is faster, more secure, and consumes only a fraction of the electricity. It also allows custom invoices to be created and attached to transactions, and changes the economic incentives of the network to one that encourages savings with the switch to the Proof-Of-Stake algorithm, and paying 0.5% interest on balances that haven’t moved from a wallet address in a 30 day period (~6% per annum).

Specifications

POS
2% Annualized Staking Reward
Individual blocks reward will be Current Total Coins / 525,600 * 0.02
60 Second Block Target
0.005 Transaction Fee
Source: https://github.com/DNotesCoin/DNotes2.0
Download Wallet: http://dnotescoin.com/#Download
Directory DNotes2 (C:\Users\USERNAME\AppData\Roaming\DNotes2 on Windows)
CONF dnotes.conf (all lower case)

DNotes 2.0 Features
Switch to PoS
CRISP Reward - 0.5% interest every 30 days. Awarded by address. Calculated on a 30 day cycle.
Automated Invoicing (First Phase) - Integrated blockchain invoice number

There will be a soft deadline where DNotes mined after that block will not be redeemable for 2.0 coins:
4/16/2018
Block# 2180897
133,574,552 Will be the total swappable amount of DNotes we create
+20,000,000 Allocated to DNotes Global, Inc for Development & Growth Fund
153,574,552 Total DNotes 2.0 Created

The next update (TBD) will include:
Deferred Staking

Q: How do I swap my coins? (after April 16th)

A: The DNotes coin swap process will now be done through a private fork of the legacy DNotes blockchain. We have created this fork to ensure that legacy DNotes holders are still able to swap their legacy DNotes for DNotes 2.0 long after the deadline, in the event they missed the swap. This also ensures we will not be accepting newly purchased or mined DNotes, protecting our users and network.

In order to swap your coins, you will need the following DNotes v1.3 wallet, which you can download here:
http://dnotescoin.com/DNotes/dnotes-qt1-3.zip
You will need to copy your wallet.dat or wallet backup file to C:\Users\USERNAME\AppData\Roaming\DNotes1-3 directory, open the wallet application and allow it to update.
Next, you will need an address to send your legacy DNotes in to for the coin swap, you can generate a legacy address with the following instructions:
Create a DNotesVault.com account if you don’t already have one.
Login to your DNotesVault.com account, and click the HISTORIC tab at the top.
Click Create Address, and send your DNotes to the address you just created.

Coin swaps will be processed once a month until further notice.

Q: What is the cutoff date for mined DNotes that can be swapped to the new DNotes blockchain?

A: We have set April 16th 2018 as the soft deadline. No DNotes mined after this date will be eligible to be swapped to DNotes running on the new blockchain. We will continue swap DNotes after that date, however the process will not be as easy and will take more time. Any DNotes 1.x purchased on exchanges after the 16th will not be eligible for the swap.

Q: Will DNotes 2.0 be listed on new exchanges?

We are currently listed on:
https://mercatox.com/exchange/NOTE/BTC
https://stocks.exchange/trade/NOTE/BTC
https://www.nlexch.com/markets/notebtc
https://bitebtc.com/trade/note_btc

Beta or Future Exchanges we are working with:
https://blockbid.io/

Q: Are the new DNotes 2.0 coins worth the same as the old coins?

A: Yes, they are worth exactly the same. However we can not predict what price movements will occur at exchanges once DNotes is relisted using the new coins.

Q: I have Mac or Specific Linux OS, will there be wallets for these?  

A: Yes!
We currently have Windows / Mac / Linux Mint / Ubuntu Desktop wallets at DNotesCoin.com. If you need something else, please let us know.

Q: Where is the block explorer?

A: https://chainz.cryptoid.info/note/


Staking

Q: What is Staking?

A: Staking your coins helps to support the DNotes network, and the network currently pays out roughly 5 DNotes every minute to one address on the network based on a probability that centers on how many coins the user is staking with as a percentage of the total number of coins being staked on the network. The DNotes network pays out ~2% of the total number of coins per annum. If 100% of DNotes were being used to stake on the network, then by probability each user could expect 2% growth in the number of coins they have. If only 50% of coins are used to stake, then those users could expect approximately 4% growth that year.

Q: Can I stake my coins on the DNotesVault?

A: You cannot currently stake your coins that are on the DNotesVault, you will need to withdraw your DNotes 2.0 to a local wallet and stake your coins from your local wallet. We will in a future release incorporate cold staking, which will allow you stake your coins while they are safely tucked away inside the DNotesVault. However, we do not have an ETA, it will be one of our highest priorities for next upgrades.

Q: How do I stake?

Disclaimer: It is recommended that you properly secure your computer and wallet, as well as make proper backups, before attempting to run your own staking wallet. Failure to properly secure your DNotes may result in loss or theft. If you are not familiar with the process, please start off small and familiarize yourself with the process.

You will need to download the DNotes QT wallet here: http://dnotescoin.com/#Download

Install the wallet (and we recommend creating a backup, after encrypting your wallet)
Go to settings, and then ‘encrypt wallet’. Enter your password twice (and do NOT forget it, or you will not be able to access the wallet and we can not help you).
Go to settings, and then ‘unlock wallet’, enter your password, and select “for staking only”. This will prevent any transfers from being made from your wallet without the password while you stake your coins.
Soon the arrow at the bottom will turn green. This means that your coins are now staking.
   
Video: https://youtu.be/bR66LWPRzAU

Q: How do I get the most out of my staking efforts?

A: There is no trick to staking efficiently. The factors involved are your coin weight versus the network coin weight and coin weight is the number of coins currently staking. The age does not matter, nor does how you divide or move your coins around.

Q: How much can I earn staking?

A: That depends on how many coins you are staking and how many coins are being staked on the network. The blockchain distributes Current Total Coins / 525,600 * 0.02 every block, or every 60 seconds. You may calculate how often you are chosen to receive the block reward by dividing your network weight verse your weight. If network weight is 100, and your weight is 5, then you would be chosen for block reward 5 blocks out of every 100.



CRISP

Q: Can I get CRISP reward AND stake at the same time?

A: Yes, the system is designed to allow you to receive CRISP on a wallet you are staking

Q: What is the CRISP reward structure?

A: CRISP periods are every 43,200 blocks (30 day target). Payments start 10,080 blocks (1 week target) from the end of the CRISP period.

Q: What do I need to do to earn CRISP?

A: Keep your coins in the same address for the full CRISP period 30 days, set every 43,200 blocks.

Q: When will I receive CRISP payments?

A: The next payouts are as follows:

May 1 - Ends first CRISP period.
May 8 - Payout starts. (Virtually no one will receive this payout)
June 2 - Ends second CRISP period
June 10 - Payout starts

Roughly.

Q: Do I get CRISP payments at the DNotesVault?

A: Yes! You get CRISP inside the DNotesVault, or at any address you control, such as a Desktop wallet. Though I won't suspect you will be able to get CRISP rewards from the exchanges or other online providers.

Q: Where do the CRISP coins come from?

A: The blockchain, these are newly created coins and have now become part of the new coin distribution, just like the staking reward.

Q: How do I earn the interest reward?

A: Our Cryptocurrency Investment Savings Plan (CRISP) payouts occur approximately once per month. All coins that haven’t moved address during that month period will accrue a 0.5% interest, which compounds to roughly 6.17% per annum. If you move your coins during that time, those coins will not receive the interest for that month.







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September 30, 2018, 04:31:46 PM
 #5570

Congress Calls for SEC to Clarify Position on Crypto Regulation

https://dcebrief.com/congress-calls-for-sec-to-clarify-position-on-crypto-regulation/


The SEC has guidelines for raising money. If you raise money from investors they want to know who is responsible for the money raised, what it is raised for, and the proper reporting and disclosure. There are also guidelines for who you can accept money from and in some cases how much money you can accept from them, depending on which type of fundraising program you have chosen. These are all important factors for consumer protection and handling fraud.

The SEC chairman Jay Clayton has already stated he is not going to change the securities laws for crypto. To me that means regardless of whether or not you are selling a token to raise funds the same rules and regulations apply. This is why we have chosen equity fundraising for DNotes Global through the Reg D 506 (c) program initially.

Alan also has a great interview regarding this here: In Interview, Alan Yong Addresses ICOs, NextGen VC, and Regulatory Compliance

The guidelines are quite clear, but in many cases cryptocurrency projects are trying to skirt the regulations by changing nuances within their raise to avoid the direct ability to apply the language in the law.

e.g if it said "If you raise money as an investment from the public then you must comply with securities law"

The ICO then makes all 'investors' agree that their contribution to the project is a 'voluntary donation'.

or, say looking at the Howey test conditions used to define a security in the USA:

It is an investment of money -- simply make it a donation.
There is an expectation of profits from the investment -- make it a donation.
The investment of money is in a common enterprise -- don't use the funds for operational business expenses (yes I've actually seen this, which raises the question, what are the funds used for then? Most probably an external application not owned by the business, but I note projects like this always avoid discussing how the funds are used)
Any profit comes from the efforts of a promoter or third party -- Don't commit to developing the blockchain that the issued tokens are on to limit this expectation, and remove the link for expected profit between the application being built and the token to be used on it (no profit sharing etc).

Use all of the strategies you like to skirt the law, but these founders are merely taking advantage of a grace period where laws don't currently word-for-word cover the large variances in potential cryptocurrencies that can be created. What is lost on these founders, is that the SEC cares about 1. the law, but 2. the spirit of the law when it was written. These  publicly self-proclaimed crypto "geniuses" are no doubt aware of point 2.

In our view, the above is a dangerous long-term strategy that opens you up to future retrospective litigation, and destruction of your startup. It turns your entire passion and years of hard work into a game of regulatory roulette, and it's not like the highly competitive environment doesn't present enough risk!

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September 30, 2018, 10:37:12 PM
 #5571

At UN, Malta’s PM Calls Crypto “Inevitable Future of Money”

https://dcebrief.com/at-un-maltas-pm-calls-crypto-inevitable-future-of-money/
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September 30, 2018, 10:48:13 PM
 #5572

Congress Calls for SEC to Clarify Position on Crypto Regulation

https://dcebrief.com/congress-calls-for-sec-to-clarify-position-on-crypto-regulation/


The SEC has guidelines for raising money. If you raise money from investors they want to know who is responsible for the money raised, what it is raised for, and the proper reporting and disclosure. There are also guidelines for who you can accept money from and in some cases how much money you can accept from them, depending on which type of fundraising program you have chosen. These are all important factors for consumer protection and handling fraud.

The SEC chairman Jay Clayton has already stated he is not going to change the securities laws for crypto. To me that means regardless of whether or not you are selling a token to raise funds the same rules and regulations apply. This is why we have chosen equity fundraising for DNotes Global through the Reg D 506 (c) program initially.

Alan also has a great interview regarding this here: In Interview, Alan Yong Addresses ICOs, NextGen VC, and Regulatory Compliance

All true, but that's the problem. if Congress is concerned that the SEC's approach is wrong or inadequate, then the proper approach is for Congress to pass enabling legislation that would clarify its expectations in this area. Unfortunately, our legislators have been content to cede much of their authority to regulatory agencies and other bureaucrats, instead of tackling problems themselves. That's why it takes so long for regulations to adapt to new technologies and shifts in the economy - because regulators can only rely on the legislation that they have in hand when those innovations appear. When Congress fails to do its job, confusion reigns.

Under current law, ICOs must register or be granted an exemption. That's the SEC's interpretation of the rules, and any offerings that are not in compliance with those requirements are, as Clayton noted, illegal. Congress has the right and power to overrule that interpretation and provide ICOs with greater freedom to operate. It can also choose to impose more draconian requirements for those offerings. But that's all on Congress' shoulders.

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October 01, 2018, 01:27:57 AM
 #5573

At UN, Malta’s PM Calls Crypto “Inevitable Future of Money”

https://dcebrief.com/at-un-maltas-pm-calls-crypto-inevitable-future-of-money/


are we going to Malta summit?
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October 01, 2018, 03:33:19 AM
 #5574

From DNotes Telegram:

Chet, [30.09.18 22:35]
How deep is DNotes looking into the Possibility of coinbase listing our coin. You would think with us following all of the laws in America and them being an American organization it would work with us first before going outside to of the states to others that started as an ICO. Sometimes I feel like we are analyzing until we are paralyzed. You know when you play pool some says “study long study wrong”. How are your visits going Alan? Are there any takers so far?  I know it takes time but when they look at our history and see that we follow the rules to the T they would want to give us a shot. Just asking for an update. Thanks! Sorry if I sound frustrated.

Chet, [30.09.18 22:55]
We are not even on the list of “Not available on Coinbase” that means that they don’t even consider us as a viable coin. There are trash coins on that list. Disappointing.

Alan Yong, [30.09.18 23:31]
Chet, we will have our turn. I did not expect much from Coinbase at this time. Things could change in a few months. I have a major speaking spot at Emerge ICO Summit in Austin Texas on Oct. 9, 2018 - 30 minutes on "Micro payment, micro investment, and regulated ICO will change the world. Identify the winners early." We are also getting an additional 20 minutes to pitch our funding in front of 150 to 200 potential investors. Additionally, we have seen a review copy of "Blockchain SuperStars" featuring DNotes and DNotes Global. Very impressive. Lots of great things happening.
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October 01, 2018, 03:37:05 AM
 #5575

At UN, Malta’s PM Calls Crypto “Inevitable Future of Money”

https://dcebrief.com/at-un-maltas-pm-calls-crypto-inevitable-future-of-money/


are we going to Malta summit?

No, we are not. However, we will be at Emerge ICO Summit in Austin, Texas on Tuesday, Oct. 9. This one is a big deal for us. I am playing a major role.
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October 01, 2018, 03:02:18 PM
 #5576

At UN, Malta’s PM Calls Crypto “Inevitable Future of Money”

https://dcebrief.com/at-un-maltas-pm-calls-crypto-inevitable-future-of-money/


are we going to Malta summit?

No, we are not. However, we will be at Emerge ICO Summit in Austin, Texas on Tuesday, Oct. 9. This one is a big deal for us. I am playing a major role.

It's a great opportunity. Austin to my knowledge, has been a rapidly evolving city, especially in the area of technology. There is a lot of wealth down there, and talking to the right people combined with a strong presentation could put DNotes Global in a very strong position to make a big push forward.

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October 01, 2018, 03:45:43 PM
 #5577

I'm having an issue with Stocks Exchange right now. It's a new problem for me, but I'm wondering if anyone else who's bought or sold DNotes on Stocks.Exchange also has this issue. You may not know it yet, but will soon find out if you attempt to export your data.

The issue is that I exported all my transaction data through their site. When I look at the data, it shows me buying over 1.5 million NOTE through their site, including a few single large trades of around 100K, 200K, and 300K NOTE during the second half of June. I haven't gone back and checked but I'm pretty sure those purchases would have exceeded the daily trading volumes there as the NOTE/BTC markets were just getting started. I did not buy 1.5 million DNotes on Stocks.Exchange. I bought less than 500K total on that site. My data also shows me having deposited 3.16 BTC but having sold (traded for DNotes) 10.75 BTC.

I've had some back and forth with support about this issue. I'm wondering if anyone else who's traded DNotes on Stocks.Exchange has had this issue. If you don't know, can you export your complete transaction data and then go over it closely--see if the amount of DNotes they say you've traded matches reality, as well as if the amount of BTC you've sold corresponds to the amount that you have deposited? And if your data shows discrepancies, can you please also contact support?

I'm sure there's some kind of issue with the way the site is tracking trading data and I'm sure it can be fixed. However, at the moment I have conducted a significant amount of business on Stocks.Exchange and I cannot obtain accurate data about it. I'm hoping if the problem is more widespread and they are hearing from more people about it, that will help them to track the problem down and fix it as well as be more motivated to do so.

Sorry I always seem to be the one finding problems with our exchanges. Not really my dream role...

Here are my results:

Deposit History > Displayed Results & Export Results = Accurate.
Withdrawal History > Displayed Results & Export Results = Accurate.
Order History > Displayed Results = Accurate. (no export option)
Report > User Trade History > Displayed Results = Accurate. (no export option)
Report > User Analysis > Displayed Results = Accurate. (no export option)
Report > User History > Displayed Results & Exported Results = Inaccurate.

Is that the same for you? If so, I would recommend to make sure they know exactly where the issue. Where there is so many options it would be easy to look at the wrong area and not find the problem.

Side note, if you are getting the same results as me, you can get the accurate data by using the other options. For user trade history, pick the full range of dates, copy the data and paste it into notepad then copy from notepad to excel.

I hadn't done much with the other options before reading your post because at first glance the data from those other options does not appear to have all the information I need. The "user history" option really presents the data in the best form for me to use. The only problem is it's wrong.

I did some preliminary copy/pasting and then analysis of both the "User Trade History" and "User Analysis" data. I have found that what they show is accurate or at least close (there's about a 0.09 BTC discrepancy between what I deposited and what I spent but it's possible that discrepancy is accounted for by fees I'm not seeing, although it looks like I paid all my fees in NOTE. In any case, that's better than a 7.25 BTC or so discrepancy!).

With that said, both the "User Trade History" and "User Analysis" show incomplete data. For example, I can get an accurate total of how many DNotes I bought only in the "User Analysis" dataset, but not in the "User Trade History" dataset. And I can get a nearly accurate total of how many BTC I sold in the "User Analysis" dataset but not the "User Trade History" dataset. Both of those datasets are also cluttered with more information than I would ever want on all the orders I placed and subsequently canceled!

I believe if I got desperate I could end up with an accurate set of transaction history data if I really did a lot of work with the other options, including deleting the data for unfilled orders, and combining the info from "User Analysis" and "User Trade Data" and deleting the duplicates, and then matching up each order with its corresponding buy amount, sell amount and fee using the timestamp... But seriously, that is a lot more work than I'd have to do to get accurate data off other exchanges! I wouldn't necessarily want to go through all that every month and I doubt anyone else would either. If Mercatox didn't also have issues (though its data export works perfectly!) and there were other trading platform options with decent volume, that would be enough to make me pull all my funds and quit trading there. But right now, the choices are to deal with Stocks.Exchange's issues with data export accuracy or deal with Mercatox' issues with... everything else, or deal with super low volume platforms. Not exactly a great situation here...

I will keep working with support. It does appear that Stocks.Exchange's base data is accurate and that there is something wrong with one or more of the formulas they use to come up with the data they display (and export) in "User History." Hopefully they can figure it out and fix it. If they do, Stocks.Exchange will be a great platform to use.

They do seem to be a pretty good platform. So far great experience, the only issue I had was with their API, but that was due to an upgrade they were working on.


Support still hasn't resolved this issue for me but they are responsive. I sent some .csv files showing the results of various display options they have and how they are different. My understanding is that the developers are taking a closer look at my data. Hopefully that helps them nail down the problem and fix it so we can all obtain accurate data on our trades.
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October 01, 2018, 05:25:41 PM
 #5578

I'm having an issue with Stocks Exchange right now. It's a new problem for me, but I'm wondering if anyone else who's bought or sold DNotes on Stocks.Exchange also has this issue. You may not know it yet, but will soon find out if you attempt to export your data.

The issue is that I exported all my transaction data through their site. When I look at the data, it shows me buying over 1.5 million NOTE through their site, including a few single large trades of around 100K, 200K, and 300K NOTE during the second half of June. I haven't gone back and checked but I'm pretty sure those purchases would have exceeded the daily trading volumes there as the NOTE/BTC markets were just getting started. I did not buy 1.5 million DNotes on Stocks.Exchange. I bought less than 500K total on that site. My data also shows me having deposited 3.16 BTC but having sold (traded for DNotes) 10.75 BTC.

I've had some back and forth with support about this issue. I'm wondering if anyone else who's traded DNotes on Stocks.Exchange has had this issue. If you don't know, can you export your complete transaction data and then go over it closely--see if the amount of DNotes they say you've traded matches reality, as well as if the amount of BTC you've sold corresponds to the amount that you have deposited? And if your data shows discrepancies, can you please also contact support?

I'm sure there's some kind of issue with the way the site is tracking trading data and I'm sure it can be fixed. However, at the moment I have conducted a significant amount of business on Stocks.Exchange and I cannot obtain accurate data about it. I'm hoping if the problem is more widespread and they are hearing from more people about it, that will help them to track the problem down and fix it as well as be more motivated to do so.

Sorry I always seem to be the one finding problems with our exchanges. Not really my dream role...

Here are my results:

Deposit History > Displayed Results & Export Results = Accurate.
Withdrawal History > Displayed Results & Export Results = Accurate.
Order History > Displayed Results = Accurate. (no export option)
Report > User Trade History > Displayed Results = Accurate. (no export option)
Report > User Analysis > Displayed Results = Accurate. (no export option)
Report > User History > Displayed Results & Exported Results = Inaccurate.

Is that the same for you? If so, I would recommend to make sure they know exactly where the issue. Where there is so many options it would be easy to look at the wrong area and not find the problem.

Side note, if you are getting the same results as me, you can get the accurate data by using the other options. For user trade history, pick the full range of dates, copy the data and paste it into notepad then copy from notepad to excel.

I hadn't done much with the other options before reading your post because at first glance the data from those other options does not appear to have all the information I need. The "user history" option really presents the data in the best form for me to use. The only problem is it's wrong.

I did some preliminary copy/pasting and then analysis of both the "User Trade History" and "User Analysis" data. I have found that what they show is accurate or at least close (there's about a 0.09 BTC discrepancy between what I deposited and what I spent but it's possible that discrepancy is accounted for by fees I'm not seeing, although it looks like I paid all my fees in NOTE. In any case, that's better than a 7.25 BTC or so discrepancy!).

With that said, both the "User Trade History" and "User Analysis" show incomplete data. For example, I can get an accurate total of how many DNotes I bought only in the "User Analysis" dataset, but not in the "User Trade History" dataset. And I can get a nearly accurate total of how many BTC I sold in the "User Analysis" dataset but not the "User Trade History" dataset. Both of those datasets are also cluttered with more information than I would ever want on all the orders I placed and subsequently canceled!

I believe if I got desperate I could end up with an accurate set of transaction history data if I really did a lot of work with the other options, including deleting the data for unfilled orders, and combining the info from "User Analysis" and "User Trade Data" and deleting the duplicates, and then matching up each order with its corresponding buy amount, sell amount and fee using the timestamp... But seriously, that is a lot more work than I'd have to do to get accurate data off other exchanges! I wouldn't necessarily want to go through all that every month and I doubt anyone else would either. If Mercatox didn't also have issues (though its data export works perfectly!) and there were other trading platform options with decent volume, that would be enough to make me pull all my funds and quit trading there. But right now, the choices are to deal with Stocks.Exchange's issues with data export accuracy or deal with Mercatox' issues with... everything else, or deal with super low volume platforms. Not exactly a great situation here...

I will keep working with support. It does appear that Stocks.Exchange's base data is accurate and that there is something wrong with one or more of the formulas they use to come up with the data they display (and export) in "User History." Hopefully they can figure it out and fix it. If they do, Stocks.Exchange will be a great platform to use.

They do seem to be a pretty good platform. So far great experience, the only issue I had was with their API, but that was due to an upgrade they were working on.


Support still hasn't resolved this issue for me but they are responsive. I sent some .csv files showing the results of various display options they have and how they are different. My understanding is that the developers are taking a closer look at my data. Hopefully that helps them nail down the problem and fix it so we can all obtain accurate data on our trades.

Sounds great! Once they nail down where the problem is, I'm sure they will be able to fix it.

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October 01, 2018, 10:18:29 PM
 #5579

In the light of wallet maintenance on Stocks.Exchange (STEX) I was wondering...was anyone in contact with Cryptopia lately? Since they already promised listing and then changed their mind, maybe they would be willing to reconsider and list DNotes afterall? Undecided
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October 01, 2018, 11:07:50 PM
 #5580

In the light of wallet maintenance on Stocks.Exchange (STEX) I was wondering...was anyone in contact with Cryptopia lately? Since they already promised listing and then changed their mind, maybe they would be willing to reconsider and list DNotes afterall? Undecided

Stocks Exchange just one of their reports isn't reporting correctly; withdrawals, deposits, and trading are fine. Listing on Cryptopia is about $45,000 currently. https://www.cryptopia.co.nz/CoinListings. That aside, Cryptopia is in the same relative range of volume and traffic as our current exchanges. So it would be very difficult to justify.

To clarify, here is what happened with Cryptopia, because it's not really true that they just changed their mind. We were listed on Cryptopia, we got in touch with them and advised them we would be swapping our blockchain. They told us we had to go through the process as if we were a new coin, they worked with us and accepted our money and told us it would be listed 30 days after the delisting of legacy DNotes. This would be roughly 30 days after our re-launch and the start of DNotes 2.0, and although not ideal, we still figured it was our best bet at the moment. So 3 days before the listing, they told us they had a new process where legal has to review to see if it's a "Financial Product" according to the New Zealand laws. So they delayed a few times, and eventually sent us back our money because their opinion is that we are a "financial product". We took a massive hit in terms of momentum with the launch of DNotes 2.0 and tied up funds we could have used for getting DNotes listed elsewhere.


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