DNotes 2.0 - Staking, CRISP Interest, DNotes Pay

[TimMarsh]

DNotes Dollars and Bitcoin


Showing the relationship between DNotes and Bitcoin in US$ using a dual y axis to align them

I've been trying to understand the relationship between DNotes, the US dollar, and Bitcoin. As Alan has pointed out, there is a big difference between price and value. And for me, I've never seen clearer examples than in crytocurrency. It is hard to understand how a fluctuation in the value of Bitcoin has a parallel relationship with DNotes. It would seem more credible to me if there were an inverted relationship. This is because if you're selling Bitcoin, then you're either buying some other fiat currency or cryptocurrency. So if Bitcoin value goes down, I'd expect to see a proportional rise in the purchased currency, based on the purchase's percentage of the total available currency. Or more accurately, the total amount of the target currency willing to be sold.

But that is not what I'm seeing with DNotes. This might be because people have setup sales to go through, not at a set dollar value, but a set exchange value with Bitcoin. So regardless of how the pair perform against a fiat currency, the sale price is based purely on the BTC exchange rate. This makes so little financial sense that it is hard to fathom. But I feel like this 'cleaning' or 'blood bath' as I've heard it called, is rather arbitrary and unrelated to the value of DNotes. So while it might be having a temporary effect on the current price, the fact that it does not touch the value makes me feel like there is money in the sidelines just waiting to be pumped into DNotes just before it heads back towards its true value.

[percocet]

I've been looking into Dnotes and I really like what I see so far. I would like some more details about the tech behind it....

Dnotes' current version is a POS coin, I assume forked from a Litecoin derivative back in the day?
It is my understanding that Dnotes 2.0 is being totally rewritten in C#? Is this a completely new codebase? Will any of it be proprietary/patented?
What type of blockchain will DNotes2.0 use (e.g. POS, dPOS, DAG)?

Thanks!

[TeeGee]

Hello DNotes team and supporters.  I'm new to the forum, but been following a while.  I would like to thank Tim for reaching out to me through facebook yesterday and today.  (I was razzing Peter Schiff on his endless tulip mania/bubble posts)  Tim spent more time commenting and answering questions I had, than I could of asked for.  A class act.  This whole team, and their approach to this developing market, is business minded and patient.  Exactly what this market needs for a legitimate, long lasting, trustworthy currency.  While nothing is guaranteed, I feel quite comfortable investing some of my fiat with this group, and I am excited to see where this project grows to.  I'm not in this just for speculative profits, but want to see how the ecosystem ends up changing the rigged financial system we are stuck with today.  Cheers, and average in while everything is on sale.

Hey DenverDan, great to see you here on the forum! It was indeed a welcome surprise to be browsing the comments on a well-known figurehead like Peter's Facebook page, to then see a video I had made. It is always great speaking to undiscovered supporters. As always, there are some things less clear surrounding our strategies, on account of being very different in approach to nearly every other coin. If anybody has questions, please ask them here in the forum, because it is highly likely there are other people who would want those questions answered!

[DNotes]

I've been looking into Dnotes and I really like what I see so far. I would like some more details about the tech behind it....

Dnotes' current version is a POS coin, I assume forked from a Litecoin derivative back in the day?
It is my understanding that Dnotes 2.0 is being totally rewritten in C#? Is this a completely new codebase? Will any of it be proprietary/patented?
What type of blockchain will DNotes2.0 use (e.g. POS, dPOS, DAG)?

Thanks!

Welcome percocet, we are currently Proof of Work, and yes initially forked from Litecoin.

The initial release of DNotes 2.0 will not be entirely written in C#, that will take some time and will need to be completely rewritten and it will eventually be open source. It will be entirely Proof of Stake building on and contributing to much of the existing open source including Stratis and many other sources.

If you have any further questions please feel free to ask, it helps us to clarify for everyone reading along.

[Dyna]

I've been looking into Dnotes and I really like what I see so far. I would like some more details about the tech behind it....

Dnotes' current version is a POS coin, I assume forked from a Litecoin derivative back in the day?
It is my understanding that Dnotes 2.0 is being totally rewritten in C#? Is this a completely new codebase? Will any of it be proprietary/patented?
What type of blockchain will DNotes2.0 use (e.g. POS, dPOS, DAG)?

Thanks!

Welcome percocet, we are currently Proof of Work, and yes initially forked from Litecoin.

The initial release of DNotes 2.0 will not be entirely written in C#, that will take some time and will need to be completely rewritten and it will eventually be open source. It will be entirely Proof of Stake building on and contributing to much of the existing open source including Stratis and many other sources.

If you have any further questions please feel free to ask, it helps us to clarify for everyone reading along.

 Welcome to DNotes, Percocet. We are delighted to learn that you like what you have seen so far. Thanks for your questions.

You are correct that the current DNotes is a forked version of Litecoin. It is still a mineable Proof of Work (POW) until DNotes 2.0 is launched in September this year.

DNotes 2.0 is a forked version of Startis. We selected them as our base-line because of the work they started - coding in C#. They have made significant contributions in C# platform though a great deal more needs to be done. We are very appreciative of everyone’s contribution to further advance the technology in our collaborative open-source environment. DNotes is committed to do our part in support of open-source by making our source codes available at the appropriate time. I will not go so far to say that it is a completely new code base. Full credit must be given to the original bitcoin codebase of which we are a derivative of.

DNotes is committed to 100% C# conversion. Some innovative technologies will be incorporated. We do not to intent to apply for any patent at this time.

DNotes 2.0 is a migration from POW to POS. DNotes’ stakeholders will gain a unique advantage because of our ecosystem; in this case DNotesVault. Around 2% annual rate is paid to all account holders with DNotes on deposit of 30 days or more. Additionally, they will be rewarded for staking to support our network. We are making the staking process almost effortless. DNotesVault is designed for security, ease of use, and full participation of all our stakeholders with or without technical skills. This is the result of our relentless commitment to mass acceptance of DNotes. We have maintained a low profile while investing heavily in our ecosystems for the last 3 ½ years.

Additionally, I believe that one day, those same DNotes, while earning interest and staking reward, can also be used as collateral equity to secure a line of credit using DNotes smart contract and our new blockchain. It is part of our road-map to have our own exchange, bank, partner bank, and a multi-currency card with convenient credit-line facilities and other financial services.

Hope that I have answered your questions sufficiently.

[percocet]

Wow, thanks so much for the thorough responses! I have to say this could very well be the most professionally managed thread in all of Bitcointalk 

How about speed/scalability? I assume one of the advantages of Stratis is that it doesn't suffer from the same TPS and block size bottlenecks that Bitcoin faces? I have to admit I don't know anything about Stratis.

[DNotes]

Wow, thanks so much for the thorough responses! I have to say this could very well be the most professionally managed thread in all of Bitcointalk  

How about speed/scalability? I assume one of the advantages of Stratis is that it doesn't suffer from the same TPS and block size bottlenecks that Bitcoin faces? I have to admit I don't know anything about Stratis.

Appreciate it percocet! We do not intend to specifically implement a scaling solution in the initial release of DNotes 2.0, though it will be capable of handling a higher TPS. The scaling issue is largely unsettled, and there are a multitude of options that require in-depth research and analysis. The most viable scale-ability solution has not been selected as of yet.

[TimMarsh]

Wow, thanks so much for the thorough responses! I have to say this could very well be the most professionally managed thread in all of Bitcointalk  

How about speed/scalability? I assume one of the advantages of Stratis is that it doesn't suffer from the same TPS and block size bottlenecks that Bitcoin faces? I have to admit I don't know anything about Stratis.

Appreciate it percocet! We do not intend to specifically implement a scaling solution in the initial release of DNotes 2.0, though it will be capable of handling a higher TPS. The scaling issue is largely unsettled, and there are a multitude of options that require in-depth research and analysis. The most viable scale-ability solution has not been selected as of yet.

I think the scaling problem will be with cryptocurrency for a while yet. If everyone in the world, all 7.5 billion of us, made a transaction with DNotes five times a day, that would be 37.5 billion daily transactions added to the blockchain.

Assuming that we won't wait more than a minute per block, that is still 26 million transactions per block forged each minute. And if each transaction uses as much memory as it does in bitcoin, the blockchain will grow by 11GB per minute.

The way blockchains are currently structured, you need access to the last time an address was used before you can confirm that address owns the value being transacted. If you wanted to spend value from an address that was ten years old, not even what many would consider long term savings, it would have to go back through 60,359 terabytes of data.

So even if the scaling issue was resolved to enable an 11GB block to be forged every minute, the nodes would have a very hard time keeping up with the data transfer rate. And the total size of the blockchain would become unworkable very quickly. I don't think even Moore's law will get us out of this one.

I believe the final solution will borrow heavily from video compression. Currently each wallet value is being stored as a transaction somewhere way back in the blockchain, in a series of transactions. Instead, the optimum blockchain will hold all wallets in parallel. At the start of each day, a new 'keyframe' of wallets will be generated from the previous 24 hours of transactions. Then through the day, each transaction will layer on top of that wallet's keyframe location. And each block will be partitioned based on localised transaction groups, and nodes will calculate partitions in parallel.

This will mean that only the previous hash, the last keyframe, and subsequent transactions will need to be stored by a node. And local transactions can be processed very quickly in a way that is necessary for face to face purchases. While distant transactions can take longer, which is already well tolerated.

While this might be a great final solution, people tend to solve the problem in front of them, not work backwards from the endgame. So I'm expecting to see the 'scaling problem' go through many iterations before we see general acceptance of a single cryptocurrency for daily trading. But if DNotes were to implement the endgame solution now, it would certainly give them a tremendous point of differentiation. I can just see it now, "DNotes, scales to ubiquitous world-wide daily transactions."

[DCEBrief]

Bitcoin Miners Begin Signaling Support for BIP 91

https://dcebrief.com/bitcoin-miners-begin-signaling-support-for-bip-91/

[digaran2]

By doing the right thing at the right time, DNotes will be the trusted digital currency in global commerce.
 DNotes is uniquely .Now,all the adltcoin drop a lot.I believe that the DNotes will goning back!

[Dyna]

Wow, thanks so much for the thorough responses! I have to say this could very well be the most professionally managed thread in all of Bitcointalk  

How about speed/scalability? I assume one of the advantages of Stratis is that it doesn't suffer from the same TPS and block size bottlenecks that Bitcoin faces? I have to admit I don't know anything about Stratis.

Appreciate it percocet! We do not intend to specifically implement a scaling solution in the initial release of DNotes 2.0, though it will be capable of handling a higher TPS. The scaling issue is largely unsettled, and there are a multitude of options that require in-depth research and analysis. The most viable scale-ability solution has not been selected as of yet.

Thank you, percocet. We are mindful that our industry lacks trust, integrity, professionalism, and dedicated leadership. Often there is no cohesive vision or truly long-term commitments to promote a unity of purpose to the mutual benefits of everyone. We constantly examine each and every major issue or problem, (both technical and social) confronting our industry and DNotes. The scaling constraint is one of the majors issues we are committed to solve. There are multiple solutions. As a matter of discipline, we are taking our time to pick the best path leading to the best solution. Again, our ecosystems, especially DNotesVault, will offer us a superior advantage.

[Dyna]

By doing the right thing at the right time, DNotes will be the trusted digital currency in global commerce.
 DNotes is uniquely .Now,all the adltcoin drop a lot.I believe that the DNotes will goning back!

Thank you for your confidence in DNotes and our team. You are correct that we always believe in doing the right thing at the right time. It is also important to do it the right way. That is part of the process to build DNotes as a trusted brand. Trust is invaluable, especially in financial services involving other people's hard-earned money.

No individual or group of individuals can gain exclusive control of any decentralized coin. A successful attempt will render the coin worthless, because everyone will abandon their "at will" ownership. A coin with only a handful of participants is worthless.

Consequently, DNotes is managed as a business, but not controlled as one. However, we also recognized right at the beginning, that decentralized organizations are leaderless and "at will" ownership promotes self-interest to accomplish short-term individual gain. Activities are random and at time, destructive and chaotic. We have seen that played too many times already. Mass acceptance, at its current form will not happen. There got to be a better way

There is no doubt that we are witnessing the greatest technology revolution in human history - one that has many world-changing implications. We can exploit it only for personal gain or take this as a generational opportunity to help change the world, even slightly, by making the opportunity accessible to anyone globally to participate. We pick the later and committed to build DNotes as a trusted digital currency with a purpose to the benefits of everyone.

Deviating from the norm is often a costly choice, especially over the shorter term. It takes time, money, and massive efforts to build out our ecosystems. It takes more than just a "white paper" with stunning graphics. We have successfully completed projects after projects that are verifiable serving real-world functions. They are our building blocks - all strategically linked and scalable rapidly to meet global demand at the right time. We believe that the true value of DNotes will be fairly reflected one day.

More people are beginning to discover DNotes. We are uniquely different. I strongly recommend that you check out the following links and ask any questions you may have. We are searchable, researchable, and verifiable:

http://dnotescoin.com/

http://dnotescoin.com/ceo-cfo-magazine-interview-with-alan-yong-co-founder-ceo-dnotes-global-inc/

[DNotes]

Wow, thanks so much for the thorough responses! I have to say this could very well be the most professionally managed thread in all of Bitcointalk  

How about speed/scalability? I assume one of the advantages of Stratis is that it doesn't suffer from the same TPS and block size bottlenecks that Bitcoin faces? I have to admit I don't know anything about Stratis.

Appreciate it percocet! We do not intend to specifically implement a scaling solution in the initial release of DNotes 2.0, though it will be capable of handling a higher TPS. The scaling issue is largely unsettled, and there are a multitude of options that require in-depth research and analysis. The most viable scale-ability solution has not been selected as of yet.

I think the scaling problem will be with cryptocurrency for a while yet. If everyone in the world, all 7.5 billion of us, made a transaction with DNotes five times a day, that would be 37.5 billion daily transactions added to the blockchain.

Assuming that we won't wait more than a minute per block, that is still 26 million transactions per block forged each minute. And if each transaction uses as much memory as it does in bitcoin, the blockchain will grow by 11GB per minute.

The way blockchains are currently structured, you need access to the last time an address was used before you can confirm that address owns the value being transacted. If you wanted to spend value from an address that was ten years old, not even what many would consider long term savings, it would have to go back through 60,359 terabytes of data.

So even if the scaling issue was resolved to enable an 11GB block to be forged every minute, the nodes would have a very hard time keeping up with the data transfer rate. And the total size of the blockchain would become unworkable very quickly. I don't think even Moore's law will get us out of this one.

I believe the final solution will borrow heavily from video compression. Currently each wallet value is being stored as a transaction somewhere way back in the blockchain, in a series of transactions. Instead, the optimum blockchain will hold all wallets in parallel. At the start of each day, a new 'keyframe' of wallets will be generated from the previous 24 hours of transactions. Then through the day, each transaction will layer on top of that wallet's keyframe location. And each block will be partitioned based on localised transaction groups, and nodes will calculate partitions in parallel.

This will mean that only the previous hash, the last keyframe, and subsequent transactions will need to be stored by a node. And local transactions can be processed very quickly in a way that is necessary for face to face purchases. While distant transactions can take longer, which is already well tolerated.

While this might be a great final solution, people tend to solve the problem in front of them, not work backwards from the endgame. So I'm expecting to see the 'scaling problem' go through many iterations before we see general acceptance of a single cryptocurrency for daily trading. But if DNotes were to implement the endgame solution now, it would certainly give them a tremendous point of differentiation. I can just see it now, "DNotes, scales to ubiquitous world-wide daily transactions."

Thank you TimMarsh for the insightful post. We agree that many of the existing proposed solutions are not complete. SegWit is a very creative approach to reducing data which allows for more transactions. Without an agreed ideal solution for the endgame (for all parties involved) as you mention, I think it is an excellent compromise and interim solution for the next step in solving these problems as Bitcoin needs a solution now. You're right, it may not be long before Bitcoin has to revisit this problem, and it will be excellent if the DNotes team is able to demonstrate a solution before it becomes it becomes a necessity again.

[Chase]

Question from the DNotes board on InvestorHub:

"How does one go about making an investment? I have a friend that says a very small group of individuals around the world are getting involved and recently had quite a pow wow."

I'm not sure if I got the pow wow part right , but here is my response:

Hi Steven,
I'm not sure if this is the 'pow wow' you are referring to, but DNotes team members from around the U.S., Canada, and New Zealand, got together for several months starting in April to work on multiple projects including the upgrade to DNotes 2.0.

DNotes is available for sale on several exchanges, with Poloniex being the most popular. There are plans for DNotes to have its own exchange, but for now you still have to buy bitcoin first. Depending on where you are located, you can buy it at an ATM, an exchange such as Coinbase (I think Poloniex may also have direct buy?), or online at places like QuickBT (Canada), or similar ones elsewhere. Transfer the bitcoin to Poloniex, and use it to buy DNotes.

Detailed how-to tutorials:

Coinbase: your first Bitcoin wallet - http://cryptomoms.com/forum/guides/31/coinbase-your-first-bitcoin-wallet/949/

Trading platforms: your key to all other cryptocoins - http://cryptomoms.com/forum/guides/31/trading-platforms-your-key-to-all-other-cryptocoins/975/

If you are not familiar with cryptocurrency this process may seem overly complicated, but somewhat typical of early investments. When purchasing becomes as easy as online banking or calling your broker, the price will reflect that ease.

Your DNotes can be stored on a downloaded desktop wallet if you choose, but DNotes Vault is a much easier option for anyone new to the industry. It is fully guaranteed and is easier to set up than a bank account.

The DNotes Vault Part I: your DNotes online wallet - http://cryptomoms.com/forum/guides/31/the-dnotes-vault-part-i-your-dnotes-online-wallet/990/

The DNotes Vault Part II: more than an online wallet - http://cryptomoms.com/forum/guides/31/the-dnotes-vault-part-ii-more-than-an-online-wallet/996/msg3966#msg3966

Article - "DNotes Vault – A Web Wallet Like No Other" - http://dnotesedu.com/2017/02/dnotes-vault-a-web-wallet-like-no-other/

The greatest in-depth knowledge on DNotes can be obtained by following our daily discussions on Bitcointalk, and all questions are welcomed and important to us.

I hope this helps. Let me know if you have any questions.  

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

NOTE: This is getting to be a very popular question - Do we have an easy to understand, standardized answer anywhere that I have forgotten about?

[DNotes]

Question from the DNotes board on InvestorHub:

"How does one go about making an investment? I have a friend that says a very small group of individuals around the world are getting involved and recently had quite a pow wow."

I'm not sure if got the pow wow part right , but here is my response:

Hi Steven,
I'm not sure if this is the 'pow wow' you are referring to, but DNotes team members from around the U.S., Canada, and New Zealand, got together for several months starting in April to work on multiple projects including the upgrade to DNotes 2.0.

DNotes is available for sale on several exchanges, with Poloniex being the most popular. There are plans for DNotes to have its own exchange, but for now you still have to buy bitcoin first. Depending on where you are located, you can buy it at an ATM, an exchange such as Coinbase (I think Poloniex may also have direct buy?), or online at places like QuickBT (Canada), or similar ones elsewhere. Transfer the bitcoin to Poloniex, and use it to buy DNotes.

Detailed how-to tutorials:

Coinbase: your first Bitcoin wallet - http://cryptomoms.com/forum/guides/31/coinbase-your-first-bitcoin-wallet/949/

Trading platforms: your key to all other cryptocoins - http://cryptomoms.com/forum/guides/31/trading-platforms-your-key-to-all-other-cryptocoins/975/

If you are not familiar with cryptocurrency this process may seem overly complicated, but somewhat typical of early investments. When purchasing becomes as easy as online banking or calling your broker, the price will reflect that ease.

Your DNotes can be stored on a downloaded desktop wallet if you choose, but DNotes Vault is a much easier option for anyone new to the industry. It is fully guaranteed and is easier to set up than a bank account.

The DNotes Vault Part I: your DNotes online wallet - http://cryptomoms.com/forum/guides/31/the-dnotes-vault-part-i-your-dnotes-online-wallet/990/

The DNotes Vault Part II: more than an online wallet - http://cryptomoms.com/forum/guides/31/the-dnotes-vault-part-ii-more-than-an-online-wallet/996/msg3966#msg3966

Article - "DNotes Vault – A Web Wallet Like No Other" - http://dnotesedu.com/2017/02/dnotes-vault-a-web-wallet-like-no-other/

The greatest in-depth knowledge on DNotes can be obtained by following our daily discussions on Bitcointalk, and all questions are welcomed and important to us.

I hope this helps. Let me know if you have any questions. 

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

NOTE: This is getting to be a very popular question - Do we have an easy to understand, standardized answer anywhere that I have forgotten about?

Thanks Chase! That is a good point as well.  We should have an end to end article outlining the process to make it very clear. 

[butragenjo]

Hello. How about some social media bounty campaigns like twitter? 

[Chase]

Hello. How about some social media bounty campaigns like twitter? 

Hi butragenjo. As far as I know, there aren't any social media campaigns in the works, but keep an eye out as we approach the launch date of DNotes 2.0. You never know what we might come up with... 

[TimMarsh]

Question from the DNotes board on InvestorHub:

"How does one go about making an investment? I have a friend that says a very small group of individuals around the world are getting involved and recently had quite a pow wow."
[...]
*************

NOTE: This is getting to be a very popular question - Do we have an easy to understand, standardized answer anywhere that I have forgotten about?

Thanks Chase! That is a good point as well.  We should have an end to end article outlining the process to make it very clear. 

I know my first suggestion regarding teaching people how to buy DNotes was focused on a future where you had an exchange, but I think the solution is even more important currently because more steps are involved.

[...]
With this in mind I would suggest a highly structured introduction with a focus on not wasting the customer's time. We've seen software 'wizards' used for more than a decade to step people through a complex process. This wizard should not stop at the investment point, but go all the way through to a withdrawal.
[...]
Then, once this has been developed, set up in a public space, hire a stall in the shopping centre, and pay some people $5 to invest $5 in DNotes. Watch over their shoulder and note down all of their question and complaints. Re-build your wizard based on what you learn and do it all again.
[...]

I would recommend that this wizard include hyperlinks not just to the exchanges, but to elements with in them, so that the user could click on 'create account with Coinbase' and then once they have done that while referring to the marked-up screenshots in the wizard, go back to their wizard and click on the next link, 'buy $5 worth of Bitcoin on Coinbase'. So they never feel like you've left them in the woods in some other website.

[Chase]

A weekend conversation comparing notes on the wastefulness and sense of entitlement of government employees, peaked my curiosity. Surely this group, with the strongest union, cushy pensions, paid time off for their dog's birthday (slight exaggeration), able to retire as early as 55 with a fully indexed defined-benefit pension (paid for by the taxpayer who has to work until they die), must be the worst offender.

Everyone in the conversation had previous experience working for the government, and a recurring theme kept emerging: The total lack of respect government employees have for their employer's time and property, and not by just a few employees, but in some instances  a good portion of them. "Who cares, the government is paying for this" was heard constantly, without a single thought as to who pays for the government. I remember the first time I worked through my lunch hour to meet a deadline, and was treated as if I had committed some unconscionable crime. It's an environment that can bring everyone down to the lowest common denominator after a while. My experience was before social media began ruling the brains of the people, so I assume that perhaps things are even worse now.

I found some interesting facts on a couple of infographics relating to time wasted at work that includes all workers, not just government employees:

• Businesses have a 40% productivity loss from non-work Internet related surfing
• 31.2% of workers feel that it is appropriate to surf non-work related sites everyday
• More than 70% admit to checking their personal emails at work
• Facebook is the most blacklisted website at work
• 34% - 48% of time wasted at work is spent online (web surfing, social media, shopping)
• 33% - 43% of time wasted at work is spent talking/socializing with co-workers
• Time wasted also included conducting personal business, long lunch breaks, personal calls, texting, etc...

Here's the kicker - 60% of workers think surfing the web increases productivity!

And, I was right... The government tops the list with 25% of all employees wasting time at work, although it is likely substantially higher if they think surfing the web on your employer's time & dime isn't wasteful.

https://biz30.timedoctor.com/infograph-wasted-time/     http://www.designinfographics.com/infographics-images/wasting-time-at-work.png

 

Employees can make or break a business. They are so critical to its success, they make up one of the 4 pillars in Alan's book, The Four Pillars of Business Success. Just a reminder that membership to the website is free until December, 2019 - https://fourpillarsofbusinesssuccess.com/.

[zecon]

Thanks for all the info on DNotes. I'm quite interested in learning more on the progress within the company on this coin.

Could you tell me why there's been no updates to the (public) wallet since 2015? Just other focuses?

Also, is there a roadmap somewhere that I missed?