TimMarsh
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Activity: 187
Merit: 100
Professional cryptocurrency writer incl DNotes.
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July 04, 2017, 08:56:33 AM |
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Proof of Stake
I've been looking at, and thinking about, proof of stake lately, how it works, pros and cons. There is obviously a big advantage in not needing so much power per block. And I like how a new block is more likely to be created by a small node, than a massive mining company that might approach 51% of the network's processing capabilities.
But I'm concerned about the possibility of running millions of tiny nodes to improve the possibility of gaining a double spend opportunity. Finding a balance between the big fish getting most of the chances, and it being very cheap to establish a stake in a node that has a chance at block creation seems to be the goal of most solutions.
And so I've found myself heading down the path of maximising the benefits of randomisation. The resulting model would have a variety of random-selection algorithms. Some weighted towards a capped aggregate coin age, some weighted towards a capped total coin value, some weighted to other node characteristics. Let's imagine that there are 99 different randomising algorithms called r01 to r99. I'm going to use the term Appointed Set, to mean a set of 99 randomly selected nodes where each node was selected using its own algorithm from the collection of r01–r99.
I imagine minting a legitimate block could then follow this process:
1) 50 different Appointed Sets have been selected during the minting of the block which was made three blocks earlier.
2) Then each node from the first Appointed Set selects 50 new nodes with each node based on its own r## formula incremented by 1 for each selection. eg: r23 uses algorithm r24 to select the first node in its collection of 50. Then it uses r25 for the following selection. And it continues until it has 50 random nodes selected using r24–r73 biases.
3) All 99 nodes of the Appointed Set share their selected nodes using peer to peer. These are then arranged by r## values into the collection of 50 Appointed Sets.
4) Then each node from that same Appointed Set mint all pending transactions and the newly shared Appointed Set Collection into their new block and compare their hashes.
5a) If all 99 hashes from the 99 nodes in the first Appointed Set match, then the minted block is published to the blockchain.
OR 5b) A side chain is published to the block chain telling the second Appointed Set to begin at step 2. This side chain also contains the hashes generated by the first Appointed Set so that they can be inspected to see which node(s) was corrupted.
I'm not sure why I thought embedding the Appointed Sets three levels deep in the blockchain was valuable. It does warn potential hackers of the nodes that will be trusted, and make them targets for hacking. So maybe it would be best that Appointed Sets are generated only as 'transaction style records' for including in the upcoming block. The number of nodes in an Appointed Set are arbitrary, as are the number of Appointed Sets required in a collection. These numbers could be automatically be determined as a capped ratio to network size.
The main thrust of this suggestion is to use randomisation in the consensus process to disrupt all possibility of 51% attacks being successful. Once this block, approved by the 99 nodes of the Appointed Set, has been published, it would still be subject to the already accepted 51% approval process currently in place to consolidate the block and move on to the next one.
It is quite possible that my suggestion has done more to illustrate the limits of my understanding, than it has done to improve the state of POS technology. If this is the case, I look forward to comments that point out what I have not understood.
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Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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Chase
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July 04, 2017, 01:07:06 PM
Last edit: July 04, 2017, 02:11:19 PM by Chase |
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I am now in that project with 1000 USD. But why the hell did the price went to 4151 SAT? Feeling kinda pissed, bought at 5900 SAT. Some bad news, rumors or what is the reason?
I feel you. But let me tell you my story. I bought 80.000$ of this coin at ~0.25$ (~8500 sats at that time if I remember correctly). I was thinking in going for a 5 year plan with 50% of it, but I decided to wait until DNotes 2.0 is out. I am happy with my decision so far. But seeing this pump and dump dump dump after dump by whales holding big amounts bought early, it's making me very nervous. My investment is now worth around 35.000$ depending on the variation of the price. Even now I have trouble sleeping. But that is only because of me. Now I know when I will make a big investment, I will have to wait and see how the market goes. I bought because I researched this coin and I find it a good one. They have a different approach and a good plan. I plan on holding and staking. But for now is just whale dumping. And they dumped over 6 million DNotes, I took notes for almost every transaction on polo. I watch the market 24/7 with little time to sleep. I hope on finding time to adjust things so that I can sleep and go outside more. I also have a message for Alan & Co. You tried to work behind the scenes with no news to avoid this type of pump and dumps, but as you can see you can't avoid that. In my opinion, seeing other coins perform over the last year with good news from time to time regarding the code and functionality of the coin, was a better approach. The reason why is simple. They build up more holders and more whales (yeah, they drive the price and the crowd goes with them) got their interest and the price got up many times, eventhough it fluctuated a lot, it doesn't matter AS WE CAN SEE. You may call it a hype, but that's crypto for now. DNotes is undervalued ONLY because of this. One last question. You talked once about masternodes. I like them for the simple reason that they offer more revenue. We are talking about 2,5-3% per month with 24h staking time, compared to your 0.7 per month with staking for 5 years. If you will have MNs you will have to make a division or something, you can't have them with this kind of supply. Is this still in your planning? Hi alfaalfa. We all understand what you are feeling - at one point or another we have all seen an investment lose value (2009 financial crisis  ). "I bought because I researched this coin and I find it a good one. They have a different approach and a good plan." - You are already 20 steps ahead of most of the investors in cryptocurrency, as they all tend to follow the herd. But it is the investor that can see the future in something that is 'different', that will reap the biggest rewards. "You tried to work behind the scenes with no news to avoid this type of pump and dumps, but as you can see you can't avoid that. In my opinion, seeing other coins perform over the last year with good news from time to time regarding the code and functionality of the coin, was a better approach." - DNotes has been very consistent in their path from day one of building a business-like ecosystem, with many of the project details not being announced until completion. Every successful business operates like this - if Apple had announced their 5 year iPhone plan years before it the iPhone was even released, there would have been a slew of copycats (sound familiar? lol). As far as the price goes, with what DNotes has to offer, the price has has been anything but "pumped". Typical of the current cryptocurrency environment, the herd jumps onto the ICO or flash-tech coin of the day, by selling one that doesn't light-up when they shake it. DNotes greatest appeal will come from outside the industry because we are building something that people can actually understand - a researchable, verifiable, income generating investment. These people represent the elusive 'mainstream' no cryptocurrency has yet been able win over. I believe DNotes is the one, and if you do the math on what the value of a successful global currency would be, in my opinion this is one risk everyone needs to take.  I'll leave the masternode question to someone else... |
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Brandon Cheliak
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July 04, 2017, 01:42:50 PM |
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Happy Fourth of July to everyone in USA!
Happy 4th of July - I hope you have a wonderful day! Happy 4th of July. I'm really glad I have the opportunity to be in America to celebrate Independence Day for the first time. After working in cryptocurrency for several years and learning more about how the world of finance works, it really feels like our industry shares the common cause of freedom from oppressive government, just as patriots from the 13 colonies took a stand against oppressive British taxation. This is a holiday that should be held dearly by everyone in cryptocurrency. |
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DNotes (OP)
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DNotes
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July 04, 2017, 06:11:03 PM |
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Happy Fourth of July to everyone in USA!
Happy 4th of July - I hope you have a wonderful day! Happy 4th of July. I'm really glad I have the opportunity to be in America to celebrate Independence Day for the first time. After working in cryptocurrency for several years and learning more about how the world of finance works, it really feels like our industry shares the common cause of freedom from oppressive government, just as patriots from the 13 colonies took a stand against oppressive British taxation. This is a holiday that should be held dearly by everyone in cryptocurrency. Happy 4th all! Brandon & Tim, hope you enjoy the celebration. |
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DNotes (OP)
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Merit: 1111
DNotes
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July 04, 2017, 06:26:36 PM |
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Proof of Stake
I've been looking at, and thinking about, proof of stake lately, how it works, pros and cons. There is obviously a big advantage in not needing so much power per block. And I like how a new block is more likely to be created by a small node, than a massive mining company that might approach 51% of the network's processing capabilities.
But I'm concerned about the possibility of running millions of tiny nodes to improve the possibility of gaining a double spend opportunity. Finding a balance between the big fish getting most of the chances, and it being very cheap to establish a stake in a node that has a chance at block creation seems to be the goal of most solutions.
And so I've found myself heading down the path of maximising the benefits of randomisation. The resulting model would have a variety of random-selection algorithms. Some weighted towards a capped aggregate coin age, some weighted towards a capped total coin value, some weighted to other node characteristics. Let's imagine that there are 99 different randomising algorithms called r01 to r99. I'm going to use the term Appointed Set, to mean a set of 99 randomly selected nodes where each node was selected using its own algorithm from the collection of r01–r99.
I imagine minting a legitimate block could then follow this process:
1) 50 different Appointed Sets have been selected during the minting of the block which was made three blocks earlier.
2) Then each node from the first Appointed Set selects 50 new nodes with each node based on its own r## formula incremented by 1 for each selection. eg: r23 uses algorithm r24 to select the first node in its collection of 50. Then it uses r25 for the following selection. And it continues until it has 50 random nodes selected using r24–r73 biases.
3) All 99 nodes of the Appointed Set share their selected nodes using peer to peer. These are then arranged by r## values into the collection of 50 Appointed Sets.
4) Then each node from that same Appointed Set mint all pending transactions and the newly shared Appointed Set Collection into their new block and compare their hashes.
5a) If all 99 hashes from the 99 nodes in the first Appointed Set match, then the minted block is published to the blockchain.
OR 5b) A side chain is published to the block chain telling the second Appointed Set to begin at step 2. This side chain also contains the hashes generated by the first Appointed Set so that they can be inspected to see which node(s) was corrupted.
I'm not sure why I thought embedding the Appointed Sets three levels deep in the blockchain was valuable. It does warn potential hackers of the nodes that will be trusted, and make them targets for hacking. So maybe it would be best that Appointed Sets are generated only as 'transaction style records' for including in the upcoming block. The number of nodes in an Appointed Set are arbitrary, as are the number of Appointed Sets required in a collection. These numbers could be automatically be determined as a capped ratio to network size.
The main thrust of this suggestion is to use randomisation in the consensus process to disrupt all possibility of 51% attacks being successful. Once this block, approved by the 99 nodes of the Appointed Set, has been published, it would still be subject to the already accepted 51% approval process currently in place to consolidate the block and move on to the next one.
It is quite possible that my suggestion has done more to illustrate the limits of my understanding, than it has done to improve the state of POS technology. If this is the case, I look forward to comments that point out what I have not understood.
Thanks TimMarsh, there are some interesting concepts and I can see some potential benefits to the randomization approach though it seems off the top of my head they would ultimately result in reduced security or higher chance of manipulation. Currently, it won't necessarily matter how many nodes are running, but how many coins those nodes control. For example, 100 nodes with 100 coins has the same amount of authority on the network as 1 node with 100 coins. |
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DNotes (OP)
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DNotes
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July 04, 2017, 06:42:17 PM |
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I am now in that project with 1000 USD. But why the hell did the price went to 4151 SAT? Feeling kinda pissed, bought at 5900 SAT. Some bad news, rumors or what is the reason?
I feel you. But let me tell you my story. I bought 80.000$ of this coin at ~0.25$ (~8500 sats at that time if I remember correctly). I was thinking in going for a 5 year plan with 50% of it, but I decided to wait until DNotes 2.0 is out. I am happy with my decision so far. But seeing this pump and dump dump dump after dump by whales holding big amounts bought early, it's making me very nervous. My investment is now worth around 35.000$ depending on the variation of the price. Even now I have trouble sleeping. But that is only because of me. Now I know when I will make a big investment, I will have to wait and see how the market goes. I bought because I researched this coin and I find it a good one. They have a different approach and a good plan. I plan on holding and staking. But for now is just whale dumping. And they dumped over 6 million DNotes, I took notes for almost every transaction on polo. I watch the market 24/7 with little time to sleep. I hope on finding time to adjust things so that I can sleep and go outside more. I also have a message for Alan & Co. You tried to work behind the scenes with no news to avoid this type of pump and dumps, but as you can see you can't avoid that. In my opinion, seeing other coins perform over the last year with good news from time to time regarding the code and functionality of the coin, was a better approach. The reason why is simple. They build up more holders and more whales (yeah, they drive the price and the crowd goes with them) got their interest and the price got up many times, eventhough it fluctuated a lot, it doesn't matter AS WE CAN SEE. You may call it a hype, but that's crypto for now. DNotes is undervalued ONLY because of this. One last question. You talked once about masternodes. I like them for the simple reason that they offer more revenue. We are talking about 2,5-3% per month with 24h staking time, compared to your 0.7 per month with staking for 5 years. If you will have MNs you will have to make a division or something, you can't have them with this kind of supply. Is this still in your planning? Hi alfaalfa. We all understand what you are feeling - at one point or another we have all seen an investment lose value (2009 financial crisis ). "I bought because I researched this coin and I find it a good one. They have a different approach and a good plan." - You are already 20 steps ahead of most of the investors in cryptocurrency, as they all tend to follow the herd. But it is the investor that can see the future in something that is 'different', that will reap the biggest rewards. "You tried to work behind the scenes with no news to avoid this type of pump and dumps, but as you can see you can't avoid that. In my opinion, seeing other coins perform over the last year with good news from time to time regarding the code and functionality of the coin, was a better approach." - DNotes has been very consistent in their path from day one of building a business-like ecosystem, with many of the project details not being announced until completion. Every successful business operates like this - if Apple had announced their 5 year iPhone plan years before it the iPhone was even released, there would have been a slew of copycats (sound familiar? lol). As far as the price goes, with what DNotes has to offer, the price has has been anything but "pumped". Typical of the current cryptocurrency environment, the herd jumps onto the ICO or flash-tech coin of the day, by selling one that doesn't light-up when they shake it. DNotes greatest appeal will come from outside the industry because we are building something that people can actually understand - a researchable, verifiable, income generating investment. These people represent the elusive 'mainstream' no cryptocurrency has yet been able win over. I believe DNotes is the one, and if you do the math on what the value of a successful global currency would be, in my opinion this is one risk everyone needs to take. I'll leave the masternode question to someone else... Re masternodes, you may have to refresh my memory on that discussion. It is possible they may be helpful for a few things, such as faster transactions, but I know we haven't settled on using masternodes specifically. For the potential for higher returns, this is something that has come up in our recent discussions and may be worth revisiting again now that you have brought it up. |
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TimMarsh
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Activity: 187
Merit: 100
Professional cryptocurrency writer incl DNotes.
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July 05, 2017, 06:09:49 AM |
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Maybe you can share with us your experience, what did it take to begin to understand the full scope of the DNotes project. How can we better clarify that message in such a way that will allow a reader or viewer to 'get it', and realize we are not a centralized currency, but a decentralized currency with the central entity that can only assist the decentralized currency.
I guess I found the centralized—decentralized concept immediately understandable at a simplistic level. And at a code level, I still don't know how it has been implemented. Maybe this is because it is how I perceive all alt-coins to varying degrees. The nature of blockchain technology makes an alt-coin decentralized except in those odd cases where the creator takes a more controlling stance. But all of the alt-coins were created by a team who chose the name, chose the branding, negotiated with exchanges and took on all of the other required centralized roles to get their alt-coin accepted. The only difference I see between these other alt-coins and DNotes is the extent to which DNotes is supported and guided. Supporting with a 25% share in DNotes Inc, guiding towards a more capable 2.0 version, establishing strong communities are all valuable centralized activities. At the coding level, my understanding is the transition to DNotes 2.0 will be done via a 1:1 exchange of old version DNotes made through the vault. I would call this a centralized process taking place in the decentralized sphere of the currency. At this stage, my understanding of the process is so limited, I'm just trusting DNotes to get it right. I don't know what happens to DNotes1.0 that are not swapped for their 2.0 version. My guess is because it is a peer-to-peer blockchain, they will still be traded via node wallets. I don't know if the history of DNotes1.0 will be embedded into the DNotes2.0 blockchain, or if the 2.0 will be tacked onto the existing blockchain. I also don't know how DNotes2.0 will handle code changes in the future. Can a consensus group outside of the DNotes team come together, agree on a code change, share it with more than 51% of nodes/coins or something and implement the change without approval from the DNotes team? Is being able to do this part of the requirement of considering a currency truly decentralized? So as you can see, I probably have more questions than answers, but I'm like that about a cup of tea too, it is just my nature. |
Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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Dyna
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July 05, 2017, 12:13:17 PM |
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Maybe you can share with us your experience, what did it take to begin to understand the full scope of the DNotes project. How can we better clarify that message in such a way that will allow a reader or viewer to 'get it', and realize we are not a centralized currency, but a decentralized currency with the central entity that can only assist the decentralized currency.
I guess I found the centralized—decentralized concept immediately understandable at a simplistic level. And at a code level, I still don't know how it has been implemented. Maybe this is because it is how I perceive all alt-coins to varying degrees. The nature of blockchain technology makes an alt-coin decentralized except in those odd cases where the creator takes a more controlling stance. But all of the alt-coins were created by a team who chose the name, chose the branding, negotiated with exchanges and took on all of the other required centralized roles to get their alt-coin accepted. The only difference I see between these other alt-coins and DNotes is the extent to which DNotes is supported and guided. Supporting with a 25% share in DNotes Inc, guiding towards a more capable 2.0 version, establishing strong communities are all valuable centralized activities. At the coding level, my understanding is the transition to DNotes 2.0 will be done via a 1:1 exchange of old version DNotes made through the vault. I would call this a centralized process taking place in the decentralized sphere of the currency. At this stage, my understanding of the process is so limited, I'm just trusting DNotes to get it right. I don't know what happens to DNotes1.0 that are not swapped for their 2.0 version. My guess is because it is a peer-to-peer blockchain, they will still be traded via node wallets. I don't know if the history of DNotes1.0 will be embedded into the DNotes2.0 blockchain, or if the 2.0 will be tacked onto the existing blockchain. I also don't know how DNotes2.0 will handle code changes in the future. Can a consensus group outside of the DNotes team come together, agree on a code change, share it with more than 51% of nodes/coins or something and implement the change without approval from the DNotes team? Is being able to do this part of the requirement of considering a currency truly decentralized? So as you can see, I probably have more questions than answers, but I'm like that about a cup of tea too, it is just my nature. " So as you can see, I probably have more questions than answers, but I'm like that about a cup of tea too, it is just my nature." Yes, it can be quite complicated. I trust that given the time and research you will gain great understanding before long. Meanwhile, the most important thing to understand about DNotes is that the issuance and governance of DNotes - the digital currency is and will be 100% decentralized. No single individual or a group of individuals control DNotes. Every single DNotes that I own is purchased from the open exchange like everyone else. Ownership is "at will". A large owner of DNotes, or for that matter, any owner of DNotes can liquidate its ownership at any time, and no longer remain as an owner. Technically, once DNotes 1.0 is swapped for DNotes 2.0, the original DNotes as a coin has "0" value. Any value must be created from "0". This is just a brief response to some of your key points. The DNotes core team will be extremely busy the next few days doing some important filming and preparing for Smokeys Gardens open house. This place is looking like a paradise and we are expecting over 150 guests. Hope more DNotes supporters can join us next year. |
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DNotes (OP)
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DNotes
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July 05, 2017, 01:29:06 PM |
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R-J-F
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AKA RJF - Member since '13
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July 05, 2017, 08:28:17 PM |
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Thank you very much Tim! I have actually just released another video at our channel. You'll see me sticking around for a while, I've been here since day one, on the team since a littler after that, and am currently in the USA from New Zealand on business during the critical time leading up to DNotes 2.0 release. I have no previous video experience, however I did notice that no other crypto seem to have put any effort into their PR campaigns. At best you get a cheap-to-make 'explanation' video with cartoon animations moving around the screen that explain what digital money is, and a little on how that particular currency works. Even the top crypto have zero PR but for some basic 'chatting' videos into a webcam - and they most surely could afford to do high-production value videos if they could be bothered. Here is the next video I've put together: Video: DNotes 2.0 Promo That really "pops" as they used to say, very engaging and eye catching. Looks like you might have another career in video!  |
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." Ben Franklin
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R-J-F
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AKA RJF - Member since '13
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July 06, 2017, 02:58:16 AM
Last edit: July 06, 2017, 03:18:44 AM by R-J-F |
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Just wanted to put my "2 cents" in here about the article on top apps for iPhone. While there are a few on that list I would recommend, the absolute best app for iPhone, in my opinion, is "Blockfolio". This app tracks your portfolio allowing you see profit and loss, trends, charts and prices from multiple exchanges on all your holdings! I have to say, I would be lost without it. I am invested in over 30 different projects and this is by far the easiest way to see what is going on in real time both individually and as a group. And, trend charts, candlestick charts from the exchanges and hi or low alerts are also supported along with the latest industry news. It's amazing, and that is coming from a coder, web designer and and IT professional! Needles to say, I highly recommend it. Also available for Android and it's free! Disclaimer: I have no financial interest in Blockfolio or it's developers other than my own portfolio! I also recommend "CoinCap", "BitPay" and "ShapeShift". Oh yes, and "Coin Traffic" which will keep you watching as you see Bitcoin or Litecoin transactions going by in real time in Dollars, Euros and BTC. http://blockfolio.com/ |
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." Ben Franklin
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DNotes (OP)
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DNotes
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July 06, 2017, 04:04:35 AM |
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DNotesEDU Digital Finance & Cryptocurrency Education Platform |
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TimMarsh
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Professional cryptocurrency writer incl DNotes.
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July 06, 2017, 06:47:40 AM |
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Right Timing is something that I've only started thinking about since hearing it from Alan Yong, amongst other drivers for business success. But I only had a vague idea of what he meant by it. This video includes an elaboration on the idea and it finally makes sense. I certainly agree that if the market is not ready for an idea, the amount of money that must be spent to raise market awareness is phenomenal. Even if at a technical and structural level society is in need of the invention. I can think of no better example of this than Bitcoin. There is nothing different about Bitcoin today, than there was in 2009. And it is reasonable to draw a parallel between the market becoming ready for Bitcoin and its value. This is because as the market recognises its value, its price goes up. The market had to be educated before there was space for this product. I know this looks like it breaks Alan's rule about the market not being ready, causing business failure. I'm certain that if Bitcoin required a factory, materials, trained staff, marketing teams, and administration staff, as well as paying government licenses, fees, registrations and so on, it would have failed a very long time ago. I have another rule about timing, and I'm sure I'll find echos of it in Alan's book. Don't build a business around a product that new technology has just made possible. It can be really hard to have a new idea for something that is marketable. But there is a wellspring of ideas bubbling up around new technology. The problem is that well is crowded with others who are just as likely to have the same idea and bring it to market before you do. Instead, sit back and wait to see if anyone brings something like your idea to market. Give them plenty of time to develop, prototype, test, produce, and distribute the product. My experience is three to five years. If the idea still hasn't come about, then consider investing in it. There seems to be a bit of a belief that if something was worth doing, someone would have done it already. Many times I've been rebuked for a great idea with the comment, "Surely if it could work, someone would be selling them now." This is not true, and you only need to look as far as some brilliant, simple inventions to prove it. The paper clip was needed and possible centuries before its invention in the 1870s. I suppose three of Alan's points all work together in this area. 1) Choosing the wrong business opportunity. 3) Inadequate preparation or lack of product differentiation. 10) Great ideas, but wrong timing. I haven't done the research, so if the following point isn't really in the top ten (Or built into point 6-management), then it is close to the top. And this is tenacity. Sticking with it and solving every problem instead of giving in when it looks too hard. It is true of most things in life, that the person who succeeds in doing something is the one who didn't give up. Not the smartest, the most well resourced, the one who had an advantage. These all hit the same wall of something looking impossible to solve. The one who keeps trying and solves the problem is the one who succeeds. There is a big difference between not giving up when challenged with a definable problem, and not learning that doing the same thing is giving you the same results. A business that is failing, and doesn't take corrective action should never be applauded for not giving up. Driving a business into deeper and deeper debt because you have faith in it, is not the same as stepping through different and ever more challenging hurdles.
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Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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MiningHabit
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July 07, 2017, 04:00:55 AM |
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Slow and steady wins the race, no need to hurry.
I've written this aphorism on the whiteboard walls in all four of our offices..."But if you look very closely, most overnight success stories took a really long time." - Steve Jobs, in a CNBC docu about Pixar |
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MiningHabit
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July 07, 2017, 04:24:36 AM |
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I am now in that project with 1000 USD. But why the hell did the price went to 4151 SAT? Feeling kinda pissed, bought at 5900 SAT. Some bad news, rumors or what is the reason?
Every morning I spend 10-15 minutes skimming Quora. It's a really great place to learn things in quick bites. I saw a link to an article on qz.com, and it's one of the best pieces of crypto investing advice that I've seen. https://qz.com/990088/how-to-become-a-bitcoin-millionaire-according-to-wences-casares-of-xapo/The formula, according to Casares? Take 1% or less of what you own, buy bitcoin with it, and then forget about it for at least the next five years; ideally the next decade. “You either lose one percent of your net worth, which most people can take, or you make millions,” he told a room of cryptocurrency advocates at the Westin in Times Square.Buy what you can afford to lose completely. Then hold. And hold some more. And then hold for longer than that. You'll wake up in a decade with real money. The only way, imo, to stomach the short-term volatility and the emotions therein...is to deliberately not care about the short term machinations of the market. |
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MiningHabit
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July 07, 2017, 04:47:03 AM |
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Appreciate it TimMarsh, I think one of the problems and Alan has mentioned it earlier... How do we quickly and clearly get our message across to a potential investor without taking up a lot of their time, this has always been the challenge. There are hundreds of cryptocurrencies out there to dig through and determine which ones are worth investing in, DNotes takes some time to research and truly understand the full scope of what we are trying to accomplish.
Maybe you can share with us your experience, what did it take to begin to understand the full scope of the DNotes project. How can we better clarify that message in such a way that will allow a reader or viewer to 'get it', and realize we are not a centralized currency, but a decentralized currency with the central entity that can only assist the decentralized currency.
Storytelling. We are so similar to many other species, like the Neanderthals. But they hunted alone. We learned gather ourselves through reason to figure out how to group hunt in such a way that we could funnel meat into a gorge and slaughter them all in one go and have meat for a year. We learned to trade with each other, based on trust. Our species grew dominant by the power of stories. Maybe it's esoteric and not super tactical, but we are not rational beings. The ability to bind ourselves via stories, informed by reason but also intuition...that is what gets people into the fold. TeeGee's videos are absurdly good as a starting point. But, tactically, they need to be in front of more eyeballs. It's not all that expensive to promote videos on YouTube, generating tens of thousands of views within a target audience. It's maybe even easier on Facebook. Basically, to take it from the existential to the practical...I think sophisticated digital marketing nous has a part to play here. |
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TeeGee
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July 07, 2017, 04:56:54 AM |
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Appreciate it TimMarsh, I think one of the problems and Alan has mentioned it earlier... How do we quickly and clearly get our message across to a potential investor without taking up a lot of their time, this has always been the challenge. There are hundreds of cryptocurrencies out there to dig through and determine which ones are worth investing in, DNotes takes some time to research and truly understand the full scope of what we are trying to accomplish.
Maybe you can share with us your experience, what did it take to begin to understand the full scope of the DNotes project. How can we better clarify that message in such a way that will allow a reader or viewer to 'get it', and realize we are not a centralized currency, but a decentralized currency with the central entity that can only assist the decentralized currency.
Storytelling. We are so similar to many other species, like the Neanderthals. But they hunted alone. We learned gather ourselves through reason to figure out how to group hunt in such a way that we could funnel meat into a gorge and slaughter them all in one go and have meat for a year. We learned to trade with each other, based on trust. Our species grew dominant by the power of stories. Maybe it's esoteric and not super tactical, but we are not rational beings. The ability to bind ourselves via stories, informed by reason but also intuition...that is what gets people into the fold. TeeGee's videos are absurdly good as a starting point. But, tactically, they need to be in front of more eyeballs. It's not all that expensive to promote videos on YouTube, generating tens of thousands of views within a target audience. It's maybe even easier on Facebook. Basically, to take it from the existential to the practical...I think sophisticated digital marketing nous has a part to play here. Thanks MiningHabit - I also made a 14 second, 8 slide version for Youtube advertising. |
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