DNotes 2.0 - Staking, CRISP Interest, DNotes Pay

[DNotes]

any bounty def

Welcome P E K K A, thank you for asking.

Chase is currently running a signature contest here:

DNotes is back on Bitcointalk! The new DNotes 2.0 announcement gives all the details of the infrastructure that has been built over the last 3 years, as well as a roadmap going forward. To get the word out, we are having a signature contest that will run until Friday, May 26th.


DNotes 2.0 Signature Contest

Rules & Sign-up here:  https://bitcointalk.org/index.php?topic=1925205.msg19103873#msg19103873

Did you have anything specific in mind?

[TeeGee]

Hey there,

I just saw this thread and I have to admit, DNotes 2.0 looks very interesting! However, from the post there are a few tings that aren't quite clear to me.
 
1. Which consensus mechanism this coin uses. Is it Proof-of-Work mining or something else?
2. How many coins are in circulation?
3. What is the inflation rate per year?

Looking forward for some answers
-nytro

Welcome Nytrobound,

1. Which consensus mechanism this coin uses. Is it Proof-of-Work mining or something else?

We are currently using Proof-of-Work, however DNotes 2.0 will be released using the Proof-of-Stake model.

2. How many coins are in circulation?

Currently there are just over 120 million DNotes in circulation.

3. What is the inflation rate per year?

Current inflation rate is roughly 10%, DNotes 2.0 will be closer to 5%.

Welcome to DNotes, Nytrobound. We are happy to learn that you found DNotes 2.0 interesting. Since your questions have already been answered I am just expanding on your first question, (POS) for those who like to learn more.

The answer to your 1st question is found in the last section, Road Map – “2017” or what we are currently working on “Transition to POS.” DNotes is currently a Proof of Work (POW coin) and being mined as one. Once DNotes 2.0 is launched in the coming months it will become a Proof of Stake coin with a unique way of rewarding all our long-term investors with balance held in their account for 30 days or more. We are committed to making it easy, convenient, and secured for all stakeholders to participate. Most POS offerings today are quite challenging and frustrating to participate for the average stakeholder.

Additionally, there is a staking reward of about 2% (annual rate) for those who are staking to support our network. We will make the process and participation as simple and convenient as technically possible. 

I'm glad that DNotes is moving to Proof-of-Stake (POS). One key component of this is that POS changes the way the newly issued currency is distributed - instead of being paid out to a select few miners (who also get to control the network), it is given to all holders of the coin who choose to stake (just hold the currency). Power over the network is put into the hands of money users, rather than the few who  have the means to acquire more by mining. Furthermore, the payments under POS systems work very similarly to earning interest at a bank - whereas there is no benefit to saving your crypto under Proof of Work cryptocurrencies. With Proof of Work, users must hope they have capital gains. Proof of Stake means capital gains and interest paid.

[Dyna]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

[Brandon Cheliak]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

I agree that when looking at Bitcoin alone, it is a poor currency. This is not intended as any disrespect to Bitcoin, I admire what the community and Satoshi have accomplished, but due to the fact that a large portion of the worlds population lives on less than 5 dollars per day, using it as a medium of exchange would drastically eat into their already limited means. The centralization of bitcoin is also worse than fiat in terms of wealth distribution and decentralization of issuance (mining). However when speaking of cryptocurrencies in general, there are many different types, fulfilling a wide range of functions, and to assign the entire industry a narrow classification would be a gross miscalculation. Bitcoin will go on, no matter what it is classified as, because it is still the most secure blockchain in the world.

[TeeGee]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

It concerns me that people like Dorfman should be allowed to teach young malleable minds - though I'm aware the academic world is the biggest 'bubble' of all. The biggest problem in academia is that professors are very alienated from reality, by teaching theoretical models that only loosely apply to the prevailing system of economy set in place. They become highly invested in their world-view, which is based in what benefits them the most - the status quo. Academia is often 'rote learning', and of course the discourse is limited to the happenings of highly controlled economy - I've got an economics degree, and it was taught at an institution rated as one of the best in the world - but in reality, that rating is grounded only in the ability to teach topics effectively that are 'approved' for status quo buy in. A further complication of academia, and relentless study of the status quo, is that every finding from studies based on the [failing] status quo are then extended to all other markets that are not bound by the same rules and assumptions. This professor is not wrong in his immediate view of digital currency - they have speculative asset value, but these 'assets' have the ability to fulfill the functions of money in the way that our 'modern money' never can, but adding a few minor caveats would have been more intellectually honest. Modern money can't even fulfill the functions of money at all (guaranteed loss of value over time, only exists as debt, fractional reserve banking means the vast majority of it doesn't even exist etc).

Incorrect assumptions:

1. Digital currencies (which Bitcoin is one of) will have unstable value forever.

This is a very simple - any ecosystem must grow before mainstream adoption can occur. Any economics "expert" shouldn't even need to think twice about the fact that growth in any industry, stock, or currency requires large influxes of capital, and that the laws of supply and demand dictate that you can expect prices to rapidly shoot up when this occurs - creating a lot of instability along the way. When this outcome is logically extrapolated into the future, eventually a market that moves in this manner will stabilize over time. The number of people that are buying and selling will get much larger, making it much more difficult to move the price, even with large money flows in and out.

2. Digital currencies can evolve, and/or take market dominance from another.

Bitcoin's blockchain can be upgraded, and many developments regarding transaction limits and speed have already been developed, and even third party applications like the lightning network implemented. There are also alternatives to Bitcoin (like DNotes), that may one day move into prominence that have unlimited transaction volume and instantly process payments.


Quite simply, the present and the future can look very different - of which Dr. Dorfman seemed to remember how to look ahead to the future when it came to criticizing bitcoin - [sic] "An unstable currency makes it difficult for investors to predict the value of future earnings." -

The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it didn't allow users to surf the internet like a computer could. We all know what happened there - with mobile internet access surpassing desktop usage in 2016.

[Dyna]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

It concerns me that people like Dorfman should be allowed to teach young malleable minds - though I'm aware the academic world is the biggest 'bubble' of all. The biggest problem in academia is that professors are very alienated from reality, by teaching theoretical models that only loosely apply to the prevailing system of economy set in place. They become highly invested in their world-view, which is based in what benefits them the most - the status quo. Academia is often 'rote learning', and of course the discourse is limited to the happenings of highly controlled economy - I've got an economics degree, and it was taught at an institution rated as one of the best in the world - but in reality, that rating is grounded only in the ability to teach topics effectively that are 'approved' for status quo buy in. A further complication of academia, and relentless study of the status quo, is that every finding from studies based on the [failing] status quo are then extended to all other markets that are not bound by the same rules and assumptions. This professor is not wrong in his immediate view of digital currency - they have speculative asset value, but these 'assets' have the ability to fulfill the functions of money in the way that our 'modern money' never can, but adding a few minor caveats would have been more intellectually honest. Modern money can't even fulfill the functions of money at all (guaranteed loss of value over time, only exists as debt, fractional reserve banking means the vast majority of it doesn't even exist etc).

Incorrect assumptions:

1. Digital currencies (which Bitcoin is one of) will have unstable value forever.

This is a very simple - any ecosystem must grow before mainstream adoption can occur. Any economics "expert" shouldn't even need to think twice about the fact that growth in any industry, stock, or currency requires large influxes of capital, and that the laws of supply and demand dictate that you can expect prices to rapidly shoot up when this occurs - creating a lot of instability along the way. When this outcome is logically extrapolated into the future, eventually a market that moves in this manner will stabilize over time. The number of people that are buying and selling will get much larger, making it much more difficult to move the price, even with large money flows in and out.

2. Digital currencies can evolve, and/or take market dominance from another.

Bitcoin's blockchain can be upgraded, and many developments regarding transaction limits and speed have already been developed, and even third party applications like the lightning network implemented. There are also alternatives to Bitcoin, that may one day move into prominence that have unlimited transaction volume and instantly process payments.


Quite simply, the present and the future can look very different - of which Dr. Dorfman seemed to remember how to look ahead to the future when it came to criticizing bitcoin - [sic] "An unstable currency makes it difficult for investors to predict the value of future earnings." - See, not that hard?

The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016.

That is a brilliant conclusion, "The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016."

Dr. Dorfman, like many other critics just look at the inherent weaknesses of emerging technologies and point out any imperfections. We, as innovators, are excited about the immense potential and commit our life savings and other precious resources to solve critical problems that constraint the progress of the technologies. We are dedicated to solving problems in what we believe will be beneficial to many people worldwide. Perhaps we are both right with a different attitude and motivation.   

[TeeGee]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

It concerns me that people like Dorfman should be allowed to teach young malleable minds - though I'm aware the academic world is the biggest 'bubble' of all. The biggest problem in academia is that professors are very alienated from reality, by teaching theoretical models that only loosely apply to the prevailing system of economy set in place. They become highly invested in their world-view, which is based in what benefits them the most - the status quo. Academia is often 'rote learning', and of course the discourse is limited to the happenings of highly controlled economy - I've got an economics degree, and it was taught at an institution rated as one of the best in the world - but in reality, that rating is grounded only in the ability to teach topics effectively that are 'approved' for status quo buy in. A further complication of academia, and relentless study of the status quo, is that every finding from studies based on the [failing] status quo are then extended to all other markets that are not bound by the same rules and assumptions. This professor is not wrong in his immediate view of digital currency - they have speculative asset value, but these 'assets' have the ability to fulfill the functions of money in the way that our 'modern money' never can, but adding a few minor caveats would have been more intellectually honest. Modern money can't even fulfill the functions of money at all (guaranteed loss of value over time, only exists as debt, fractional reserve banking means the vast majority of it doesn't even exist etc).

Incorrect assumptions:

1. Digital currencies (which Bitcoin is one of) will have unstable value forever.

This is a very simple - any ecosystem must grow before mainstream adoption can occur. Any economics "expert" shouldn't even need to think twice about the fact that growth in any industry, stock, or currency requires large influxes of capital, and that the laws of supply and demand dictate that you can expect prices to rapidly shoot up when this occurs - creating a lot of instability along the way. When this outcome is logically extrapolated into the future, eventually a market that moves in this manner will stabilize over time. The number of people that are buying and selling will get much larger, making it much more difficult to move the price, even with large money flows in and out.

2. Digital currencies can evolve, and/or take market dominance from another.

Bitcoin's blockchain can be upgraded, and many developments regarding transaction limits and speed have already been developed, and even third party applications like the lightning network implemented. There are also alternatives to Bitcoin, that may one day move into prominence that have unlimited transaction volume and instantly process payments.


Quite simply, the present and the future can look very different - of which Dr. Dorfman seemed to remember how to look ahead to the future when it came to criticizing bitcoin - [sic] "An unstable currency makes it difficult for investors to predict the value of future earnings." - See, not that hard?

The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016.

That is a brilliant conclusion, "The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016."

Dr. Dorfman, like many other critics just look at the inherent weaknesses of emerging technologies and point out any imperfections. We, as innovators, are excited about the immense potential and commit our life savings and other precious resources to solve critical problems that constraint the progress of the technologies. We are dedicated to solving problems in what we believe will be beneficial to many people worldwide. Perhaps we are both right with a different attitude and motivation.   

Precisely DYNA.

One useful way to break down the attitudes of people towards innovation and progress is to break the population down into those 'reactive' and those who are 'proactive'. Reactive people wait to see what happens, and draw from the past to apply it to the future. They will always see limitations of what is today, and think this will always be. To them, the status quo is comfortable, and they likely benefit from its continuity. Proactive people by contrast don't see these limitations - they solve them through hard work and problem solving, and ignore the criticisms from those who sit back telling them something can not be done.

Proactive people are the ones who invest in the future, and create change in this world.

What would the world look like without the Edisons, Da vinci's, Rutherford's, Gates's, Job's, and Nakamoto's of this world, if they couldn't look ahead to see what could be?

The DNotes team is looking forward to the future and the potential that lies there. Watch this space.

[Dyna]

We certainly know that for any digital currency, including Bitcoin and DNotes, to meet the full functions of money is not a small undertaking. DNotes has gone to great lengths in positioning itself to be in the best positioned to accomplish that status one day – serving as a bridge between the decentralized and the centralized world with multiple large scale global projects.

At issues are stability in the value of the currency and reliable store of value. DNotes’ ecosystem and road map going follow place very high emphasis in accomplishing those goals.

Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor
Lester Coleman on 20/05/2017

Jeffrey Dorfman, an economics professor at the University of Georgia, sees bitcoin as an asset rather than a currency. Writing in Forbes that value of the cryptocurrency increased 140% in 2016 and 49% in the past month, Dorfman maintains the swings in either an upward or downward direction do not make bitcoin a plausible currency as much as a speculative asset.

Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time.

Dorfman claims the most important feature a currency has is being a stable store of value. This factor is important to a developing economy trying to attract investment. It is also important for developed countries to allow investors to earn the returns they expect on investments. An unstable currency makes it difficult for investors to predict the value of future earnings.
Because uncertainty makes investments less valuable, less investment occurs.

Bitcoin Price Swings
The value of bitcoin changed an average 2% over the last month, Dorfman noted. The exchange rate between the U.S. dollar and the euro, by contrast, was under 1% and only changed 3% for the full month. There were seven days when the value of the cryptocurrency changed more than 3%, which is more than the dollar’s value changed for the full month.

People do not want debts or investments denominated in a currency with value changing by nearly 50% monthly, Dorfman observed.
As for transactions, bitcoin is slow due to the process of protecting the security of its blockchain.

There are restrictions on how many bitcoin transactions can be completed in a day. Changing the rules for processing BTC transactions has met resistance in the bitcoin community from those who wish to preserve its traceability and anonymity.
Dorfman claims bitcoin’s security negates its value for everyday use.

Read more:
https://www.cryptocoinsnews.com/why-bitcoin-is-a-speculative-asset-not-a-currency/

It concerns me that people like Dorfman should be allowed to teach young malleable minds - though I'm aware the academic world is the biggest 'bubble' of all. The biggest problem in academia is that professors are very alienated from reality, by teaching theoretical models that only loosely apply to the prevailing system of economy set in place. They become highly invested in their world-view, which is based in what benefits them the most - the status quo. Academia is often 'rote learning', and of course the discourse is limited to the happenings of highly controlled economy - I've got an economics degree, and it was taught at an institution rated as one of the best in the world - but in reality, that rating is grounded only in the ability to teach topics effectively that are 'approved' for status quo buy in. A further complication of academia, and relentless study of the status quo, is that every finding from studies based on the [failing] status quo are then extended to all other markets that are not bound by the same rules and assumptions. This professor is not wrong in his immediate view of digital currency - they have speculative asset value, but these 'assets' have the ability to fulfill the functions of money in the way that our 'modern money' never can, but adding a few minor caveats would have been more intellectually honest. Modern money can't even fulfill the functions of money at all (guaranteed loss of value over time, only exists as debt, fractional reserve banking means the vast majority of it doesn't even exist etc).

Incorrect assumptions:

1. Digital currencies (which Bitcoin is one of) will have unstable value forever.

This is a very simple - any ecosystem must grow before mainstream adoption can occur. Any economics "expert" shouldn't even need to think twice about the fact that growth in any industry, stock, or currency requires large influxes of capital, and that the laws of supply and demand dictate that you can expect prices to rapidly shoot up when this occurs - creating a lot of instability along the way. When this outcome is logically extrapolated into the future, eventually a market that moves in this manner will stabilize over time. The number of people that are buying and selling will get much larger, making it much more difficult to move the price, even with large money flows in and out.

2. Digital currencies can evolve, and/or take market dominance from another.

Bitcoin's blockchain can be upgraded, and many developments regarding transaction limits and speed have already been developed, and even third party applications like the lightning network implemented. There are also alternatives to Bitcoin, that may one day move into prominence that have unlimited transaction volume and instantly process payments.


Quite simply, the present and the future can look very different - of which Dr. Dorfman seemed to remember how to look ahead to the future when it came to criticizing bitcoin - [sic] "An unstable currency makes it difficult for investors to predict the value of future earnings." - See, not that hard?

The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016.

That is a brilliant conclusion, "The parts the professor left out (or that the reporter left out) are very important to the true state of the industry. Dr. Dorfman is criticizing the current state of an industry, when the other side are discussing its "potential". It's like saying that the mobile phone was no good back in the year 1995, because it doesn't allow you to surf the internet like a computer does. We all know what happened there - with mobile internet access surpassing desktop usage in 2016."

Dr. Dorfman, like many other critics just look at the inherent weaknesses of emerging technologies and point out any imperfections. We, as innovators, are excited about the immense potential and commit our life savings and other precious resources to solve critical problems that constraint the progress of the technologies. We are dedicated to solving problems in what we believe will be beneficial to many people worldwide. Perhaps we are both right with a different attitude and motivation.   

Precisely DYNA.

One useful way to break down the attitudes of people towards innovation and progress is to break the population down into those 'reactive' and those who are 'proactive'. Reactive people wait to see what happens, and draw from the past to apply it to the future. They will always see limitations of what is today, and think this will always be. To them, the status quo is comfortable, and they likely benefit from its continuity. Proactive people by contrast don't see these limitations - they solve them through hard work and problem solving, and ignore the criticisms from those who sit back telling them something can not be done.

Proactive people are the ones who invest in the future, and create change in this world.

What would the world look like without the Edisons, Da vinci's, Rutherford's, Gates's, Job's, and Nakamoto's of this world, if they couldn't look ahead to see what could be?

The DNotes team is looking forward to the future and the potential that lies there. Watch this space.

Well said, TeeGee. We are positioned to address many challanges confronting our industry. Exciting future just around the corner that may not look so obvious at this time.

[Chase]

DNotes is back on Bitcointalk! The new DNotes 2.0 announcement gives all the details of the infrastructure that has been built over the last 3 years, as well as a roadmap going forward. To get the word out, we are having a signature contest that will run until Friday, May 26th.


DNotes 2.0 Signature Contest

Rules & Sign-up here:  https://bitcointalk.org/index.php?topic=1925205.msg19103873#msg19103873

I am working on fixing the contest link. Sorry for any inconvenience.


NEW LINK -  https://bitcointalk.org/index.php?topic=1926562.0

[Chase]

I apologize for the goof up on the first post. The post was deleted so we have made a rule change to comply with Bitcointalk regulations:

2. Enter the contest by replying in this giveaway thread (no other posts required)

Please repost your deleted entry here, and we won't make any early draws for a day or two to give everyone a chance to re-enter. Thank you for your patience!

*********************************************************************************************************************************


DNotes is back on Bitcointalk! The new DNotes 2.0 announcement gives all the details of the infrastructure that has been built over the last 3 years, as well as a roadmap going forward. To get the word out, we are having a signature contest that will run until Friday May 26th.


DNotes 2.0 Signature Contest

Rules & signup here: https://bitcointalk.org/index.php?topic=1926562.0

[Brandon Cheliak]

I apologize for the goof up on the first post. The post was deleted so we have made a rule change to comply with Bitcointalk regulations:

2. Enter the contest by replying in this giveaway thread (no other posts required)

Please repost your deleted entry here, and we won't make any early draws for a day or two to give everyone a chance to re-enter. Thank you for your patience!

*********************************************************************************************************************************


DNotes is back on Bitcointalk! The new DNotes 2.0 announcement gives all the details of the infrastructure that has been built over the last 3 years, as well as a roadmap going forward. To get the word out, we are having a signature contest that will run until Friday May 26th.


DNotes 2.0 Signature Contest

Rules & signup here: https://bitcointalk.org/index.php?topic=1926562.0

Excellent work Chase, this is a very generous offer. I hope the winners will take the opportunity to stash away some DNotes on www.dnotesvault.com as part of their long term portfolio. There are so many projects DNotes has been working on, which will facilitate long term growth. There are a lot of participants in this industry who will fulfill nothing more than a speculative role, never achieving any utility value, but I am confident that DNotes has taken the business minded approach required to deliver a functional product that is able to stand the test of time.

[DNotes]

All,

We are researching wallet features if anyone has any suggestions or knows of any interesting features you would like to see in the DNotes 2.0 wallet.

[DCEBrief]

Congress Wants Answers from IRS About Coinbase Summons and Investigation

https://dcebrief.com/congress-wants-answers-from-irs-about-coinbase-summons-and-investigation/

[DCEBrief]

Welcome to the Bitcoin 2000

https://dcebrief.com/welcome-to-the-bitcoin-2000/

[Dyna]

Congratzon the update, looking forward to project

Thank you and welcome to DNotes' forum, ymh343993. We are looking forward a great year. Hope to see you here often.

[vella85]

I'm so happy to see DNOTES back on this forum and with a new DNOTES 2.0 I'm also happy to see DNOTES switch over to POS. I have a question that might of been answered what will happen to the people that have their DNOTES locked into a retirement vault? as I have coins locked in a 5 year plan at the moment. Thanks and great to have DNOTES back!

[mrbum805]

Yay dnotes forum is back in full force! Yes i also have owned dnotes for three years and agree that they will take it this company very far. This is a team with a dream thats becoming reality. They have a unbelievable abount of patience, more than i have.. haha  
But seriously they care so much about doing things right, that they follow through with what they say is coming everytime. They have always worded themselves appropriately. They hit the trust factor perfictly. Thats why even when they were quite working in the background not only did i not sell any, i bought more. Exciting times! Once again, i cant wait to see what the future of dnotes looks like!

Thank you mrbum805, great to hear from you again! Appreciate your continued support, we are working very hard to ensure the continued success of DNotes.

Loyalty is extremely beneficial and very hard to find. In cryptocurrency, investors sticking with a single currency is relatively uncommon, it's an endless cycle of take profit and move on to the next. DNotes having such loyal stakeholders is a real benefit. mrbum805 great to see you're still here.

Well its great to be back! and ya it just makes total sense in investing and having it be a long term hold. It wouldn't make sense to me to try to trade dnotes like I might with any other coins. However I am learning to stick with a few others but I feel Dnotes is just a great safe (obviously there's risk in new technology) long term hold. Ever since I saw how Dnotes operated, envisioned, goals, and listen to the community 3 years ago i knew you Dnotes would do well. Especially when you look at all Alans experience. The Ultimate envisionment is insane to think about when its all completed. I cant wait!

[suziebirds]

Dnotes can fly very high,no big sell walls on c-cex

[DNotes]

I'm so happy to see DNOTES back on this forum and with a new DNOTES 2.0 I'm also happy to see DNOTES switch over to POS. I have a question that might of been answered what will happen to the people that have their DNOTES locked into a retirement vault? as I have coins locked in a 5 year plan at the moment. Thanks and great to have DNOTES back!

Hi vella85, thank you! We are happy to answer any questions. The plan is to transfer them to regular DNotesVault accounts. Subject to change. Along with all interest earned and they will become unlocked without any penalty.

[DNotes]

Dnotes can fly very high,no big sell walls on c-cex

Welcome to the DNotes thread suziebirds, and thank you!