DNotes 2.0 - Staking, CRISP Interest, DNotes Pay

[Dyna]

I read that too. ICOs as they are currently structured are of serious concern to regulators. They are good for the insiders but extremely risky for the average investors, with no consumer protections. ICO is great as an alternative funding tool when done side by side with legitimate crowdfunding. However it is much more difficult and expensive. None the less, that is what I support and believe will lead to. Meanwhile, those who can or dare continue to exploit ICOs to rake in a boat-load of quick monies. I agree with you "Watch out!"

Thank you for sharing your prospective concerning ICOs. You seem to have done your homework and very knowledgeable on the subject. It will be very much appreciated if you can visit us often and share your wisdom.

Alternative funding, such crowdfunding, and ICOs when properly structured and in compliance with existing regulations are crucial for growth stage companies. Unlike before, when VC ruled because that was the only game in town, we now have many options. Unfortunately, it can be confusing, and much education is needed for entrepreneurs, who need funding, to truly benefit from it. I will do my best and share what I know.

In the case of DNotes, we are leaning in favor of Reg. A+ Title 4, Tier two for many reasons. It can be promoted globally to non-accredited investors subjects to 10% limit of investor’s annual income or net worth, whichever is greater. Of course, there is no limited for accredited investors and we can raise a maximum of $50 million over a continuous period of 12 months.  Tier 2 pre-empts Blue Sky laws in each state. Therefore, State registration is not required – a very big deal. When required, most registered or exempt funding campaigns limit their target markets to a few states where they are registered. Once quailfied by SEC, DNotes can legally mount a national and global campaign. That is quite amazing. I am very passionate about financial inclusion. The less fortunate, should not be excluded from investment opportunities because they are not wealthy. However, I am a staunch supporter of reasonable consumer protection.

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[TimMarsh]

People won't use cryptocurrency if it doesn't better their life, so why...
I think that mobile phone based payment systems will become the most common form of 'physical' transaction one day. It is likely that the most successful one will integrate with one or more cryptocurrencies, but equally as likely that it won't interact with more cryptocurrencies than the market accepted as competitors in the credit card industry.

So many people will move over to cryptocurrency when it is the simplest and most functional solution. I know after topping up my fiat currency hardware wallet two weeks previously, I've looked at it, and wondered where all the dollars went. I've also tried hanging onto all receipts and adding them up or entering them into a home accounting system. It was not fun. But using a mobile phone based wallet, I could have all my 'cash' expenditure information at my fingertips without doing anything.

Maybe New Zealand will lead the world on this, not China. I just read an interesting round up of many country's central banks' opinions regarding cryptocurrency. The most interesting part was this:

"The Reserve Bank of New Zealand, once a pioneer on the global stage with its early introduction of an inflation target, said Wednesday it’s considering its future plans for currency issuance, and how digital units may fit into those strategies. “Work is currently underway to assess the future demand for New Zealand fiat currency and to consider whether it would be feasible for the reserve bank to replace the physical currency that currently circulates with a digital alternative,” the RBNZ said in what it termed an analytical note."
https://www.bloomberg.com/news/articles/2017-11-26/what-the-world-s-central-banks-are-saying-about-cryptocurrencies
Any news TeeGee?

So even if the richest people in the world get into cryptocurrency in a big way, I still think that everyone will eventually join in because of its functionality. It is also more secure in that you can store the same value in a physical way in multiple locations that can't be stolen if part of it is stored independently. So sure, due to buying pressure, the value of a single coin might be inaccessible. But I don't see the single coin price having an impact on everyday people who can buy the fraction of a coin they need for daily purchases. A single bitcoin would have to be worth more than US$100,000,000 before the satoshi becomes a bad choice for buying coffee. At that point, a fork will add some more decimal places.

Mobile will play a huge role in the future of payments and cryptocurrency mass acceptance. It will have to be fast, adaptive to users habits, secure and recoverable, functional and simple to sign up and use. There are mobile cryptocurrency options today, but in order to use them there are trade offs in risk/cost/functionality and most of them are not easy. Progression will likely be done in phases, making it almost a seamless transition to the end user. The first step will be to integrate into the existing financial system, where there will need to be a trusted third party provider.

This is part of the role that DNotes Global Inc will play in the pursuit of bridging the gap between the centralized and decentralized with significant interest in making it cost effective as well as meeting the criteria above, in contrast to other third party providers without significant interest in the success of the currency itself. There will still be a desire and need for those tech savvy individuals that understand how to protect themselves and willing to take on their own risk, and we will help provide solutions for these individuals as well.

This is a great list of criteria for a successful mobile-payments app. I would like to add two extra things, that sit further down the priority list. Then some other numbered thoughts.

1) It must be able to work with multiple sources of funds, both fiat and selected cryptocurrencies. I'm thinking a partnership with Revolut would be worth considering. My guess is that most customers would not mind if it worked like a digital wallet that needs topping up from their preferred fund source. This would be especially true if it enabled 'draining' back into that fund source as well.

2) It must enable hotspot/mesh style mobile access via the seller's connection. That way ANY customer with a mobile device can transact even if they don't have a data connection at that time.

3) Another feature that would give the mobile application a significant advantage is non-sellers being able to accept mobile payments seamlessly. Often, and particularly as a parent, the money that came out of my wallet went to another person, not as a transaction. If this was easy to do, then it would truly feel like a digital wallet.

4) User defined limits and protocols would also give customers confidence. I could set a limit of $20 per instance and $100 per day for direct personal transactions. Then a higher limit to sellers and so on. I would even like to make settings for large planned transactions. So I could be buying a bedroom suite, and have transferred a lot more money into my wallet than I usually carry. But that large sum would be allocated to seller accounts linked to an Australian Business Number. I'd be much happier with that than walking around with a few thousand in cash.

I don't believe DNotes should expend energy or finances developing this solution. It is neither their core business nor their strength. Nor would it give their currency a market advantage because the world's most popular mobile wallet will work with multiple fund inputs seamlessly. But DNotes should be continuously on the lookout for and building relationships with all entities attempting this so that DNotes are an accepted fund source from the beginning.

DNotes should also be designing DNotes2.0 so that it uses standard approaches to integration into such a system as third-party digital wallets might expect. This would include fast transaction speeds, defined level of certainty after not too many blocks are forged, stable and functional api rules and so on.

What DNotes are doing really well, and possibly leading the market in, is recognising the importance of a stable price. Their POS shift stopping miner sales, and their generous staking rewards that include 12 month bonuses, all contribute to price stability. Also their long-term vision and steady progress, coupled with a well developed ecosystem makes it clear to investors that long-term trading is going to be more profitable than short-term trading. This price stability is very important for users wanting to transfer funds out of their DNotes account into a third-party wallet, because otherwise they would fear losing money if they transferred before a sudden spike in value. Without price stability, there would also be a huge reluctance to top up a wallet when the value source is perceived to currently be in an extreme, but very short term dip in value.

So if DNotes Global Inc gets DNotes2.0 right, I see them as being in a very strong position for early acceptance into all new mobile wallet projects. 

[TimMarsh]

It is going to be very interesting to see what NZ does in regards to considering issuing its own digital currency. I have many questions regarding how they would do this, and in particular, an interest in the ease that a system would make it to swap the NZ dollar tokens for other cryptocurrencies. I would absolutely support NZ becoming a leader in this regard, and I do play on my day off tomorrow to write the Reserve Bank an e-mail and make myself available. I have consulted ~10 people from two large government organisations here in New Zealand already regarding their official positions on digital currency.

My main questions are:

1. Would the Central Bank issue the tokens?

• Would they be replacements for current units of money, or inflation to the current amount already outstanding?
• Inflation rate? / would the blockchain be permissionless so the public can view the current money supply and trace issuance of new money etc?

2. Could the digital NZ dollars also be privately issued by banks?

Would the units held by banks be limited to the number of 'normal' New Zealand dollars held? (at least initially since there will be overlap for several years). If a bank had 100 million New Zealand dollars, and also 100 million New Zealand crypto dollars, and the law stipulated that only one of 'each dollar' (100m) can be in circulation at any time, it would not make any difference to banks if customers withdrew either currency type. For example: if I chose to deposit 100 New Zealand dollars into the bank, they can loan that out to other customers under reserve banking rules. I can then decide to withdraw that money (and it hits their reserve fund to make loans), but if I instead withdrew that money in New Zealand crypto dollars, then the bank could still hold onto that original 100 New Zealand dollars for loaning purposes. If at any time in the future I wanted my money in physical cash, the bank could exchange my New Zealand crypto dollar tokens for New Zealand cash.

3. Would banks be expected to accept customer deposits that originate from crypto exchanges, where it is likely the funds were previously held in other cryptocurrencies?

4. Would the currency in any way be made proprietary to function with Central Bank oversight, only usable within the current banking framework -- i.e. only mainstream banks will have compatible software through licencing that will work with the currency?

No attempts to create proprietary applications for the NZ crypto dollar that would attempt to prevent it from being traded directly, or into other currencies peer to peer?

Okay, so I say I'm interested in your opinion, and you respond by setting up a meeting with the Reserve Bank of New Zealand. You know that's even taking "above-and-beyond" to a whole new level, and very much appreciated.

Two things that many managers of central banks were concerned about in the linked article, were
1) Runs on banks. I think this is because, unlike hard cash that banks can refuse to put into withdrawal machines or hand over the counter, a national cryptocurrency can't be withheld.

2) Privacy concerns. None of the quoted managers elaborated on what that meant, but I think it is both true and hypocritical of them. How can you say that cryptocurrencies are bad because they are used for purchasing illegal goods and services, and then turn around and say "we need hard cash because it provides necessary privacy that traceable and permanently exposed cryptocurrencies can't."?

So I would be very interested to hear what the New Zealand managers think about these two questions as well. Best of luck and thanks for championing the cause of cryptocurrency at a national level. I hope you're keeping fit and trim because they're going to make a bronze statue of you one day.

[Denver Dan]

I bought into this ICO a while back, and now these guys are doing some things I thought DNotes might be able to learn from, or at least watch them as a case study on how they are handling compliance issues. DCORP (DRP) is building a futures trading platform, so not the same arena as DNotes. A couple main things to follow:

They are converting their main ICO token into two different tokens, eliminating the original.  One is a "Utility Token" (DRPU)with double the voting rights, the other a "Securities Token" (DRPS) with equity/profit rights to the development.

They will have a "Token Changer" on their website to do this with.  Send in DRP, change out for either of the two mentioned above for no fee the first time.  It will be interesting to see the functionality of this.

They have the new U and S coins listing soon on different exchanges.  The two different versions will be trading at the same time(well, 3 including the original).

DRP will also require personal information to do this swap.  KYC, etc.  ....interesting

There's a couple other things I do like how there doing.  Weekly video updates with a real person, not animations.  Descent P.R.  Most found on their youtube channel.  Here's a couple links for your review.

https://www.youtube.com/watch?v=OXYo-R3MRl8
https://www.dcorp.it/
description of coin split  https://us10.campaign-archive.com/?u=be7fe07e359e8aa8f29f7000d&id=d0c84e6612
https://bitcointalk.org/index.php?topic=1928628.1800

I have mixed opinions on all this.  More interested in what our community thinks.

 

[Dyna]

I bought into this ICO a while back, and now these guys are doing some things I thought DNotes might be able to learn from, or at lease watch them as  case study on how the are handling compliance issues. DCORP (DRP) is building a futures trading platform, so not the same arena as DNotes. A couple main things to follow:

They are converting their main ICO token into two different tokens, eliminating the original.  One is a "Utility Token" (DRPU)with double the voting rights, the other a "Securities Token" (DRPS) with equity/profit rights to the development.

They will have a "Token Changer" on their website to do this with.  Send in DRP, change out for either of the two mentioned above for no fee the first time.  It will be interesting to see the functionality of this.

They have the new U and S coins listing soon on different exchanges.  The two different versions will be trading at the same time(well, 3 including the original).

DRP will also require personal information to do this swap.  KYC, etc.  ....interesting

There's a few other things I like how there doing.  Weekly video updates with a real person, not animations.  Descent P.R.  Most found on their youtube channel.  Here's a couple links for your review.

https://www.youtube.com/watch?v=OXYo-R3MRl8
https://www.dcorp.it/
description of coin split  https://us10.campaign-archive.com/?u=be7fe07e359e8aa8f29f7000d&id=d0c84e6612
https://bitcointalk.org/index.php?topic=1928628.1800

I have mixed opinions on all this.  More interested in what our community thinks.

 

I have a very busy day on my schedule. Thank you, all, for some amazing posts. Tim’s list of mobile applications is very helpful. Please keep your great ideas coming.

Thank you, Denver Dan for sharing. Let me make a quick comment on DRP.

“We anticipate a substantial amount of DRP holders are based in the United States or other countries where it is very unclear as to what is or is not classified as a security.” I don’t mean to be harsh and wish that ICOs are not constrained by the lack of legal clarities. What I do know is that it is illegal to sell securities in the United States that are not registered or exempt with SEC.

Now what?  “Because of the nature of the smart contracts, DRPU and DRPS will not be listed on exchanges until after the tokens are unlocked. We encourage patience as we work to implement these changes in hopes that we will provide a lawful and safe network for everyone’s usability.”

Frankly, I have grave concern on this one. We can hope for anything. I fear that they may end with up many legal challenges that result in burning up a lot of money and time. And that could lead to a lot more uncertainties and challenges.

At DNotes, we believe in doing our home and do the right thing. There are many alternative funding options that are perfectly legal. We believe that in the best interest of our stakeholders it pays to avoid taking the risk of exploiting gray areas for possible loopholes.

[wiser]

I bought into this ICO a while back, and now these guys are doing some things I thought DNotes might be able to learn from, or at lease watch them as  case study on how the are handling compliance issues. DCORP (DRP) is building a futures trading platform, so not the same arena as DNotes. A couple main things to follow:

They are converting their main ICO token into two different tokens, eliminating the original.  One is a "Utility Token" (DRPU)with double the voting rights, the other a "Securities Token" (DRPS) with equity/profit rights to the development.

They will have a "Token Changer" on their website to do this with.  Send in DRP, change out for either of the two mentioned above for no fee the first time.  It will be interesting to see the functionality of this.

They have the new U and S coins listing soon on different exchanges.  The two different versions will be trading at the same time(well, 3 including the original).

DRP will also require personal information to do this swap.  KYC, etc.  ....interesting

There's a few other things I like how there doing.  Weekly video updates with a real person, not animations.  Descent P.R.  Most found on their youtube channel.  Here's a couple links for your review.

https://www.youtube.com/watch?v=OXYo-R3MRl8
https://www.dcorp.it/
description of coin split  https://us10.campaign-archive.com/?u=be7fe07e359e8aa8f29f7000d&id=d0c84e6612
https://bitcointalk.org/index.php?topic=1928628.1800

I have mixed opinions on all this.  More interested in what our community thinks.

 

I have a very busy day on my schedule. Thank you, all, for some amazing posts. Tim’s list of mobile applications is very helpful. Please keep your great ideas coming.

Thank you, Denver Dan for sharing. Let me make a quick comment on DRP.

“We anticipate a substantial amount of DRP holders are based in the United States or other countries where it is very unclear as to what is or is not classified as a security.” I don’t mean to be harsh and wish that ICOs are not constrained by the lack of legal clarities. What I do know is that it is illegal to sell securities in the United States that are not registered or exempt with SEC.

Now what?  “Because of the nature of the smart contracts, DRPU and DRPS will not be listed on exchanges until after the tokens are unlocked. We encourage patience as we work to implement these changes in hopes that we will provide a lawful and safe network for everyone’s usability.”

Frankly, I have grave concern on this one. We can hope for anything. I fear that they may end with up many legal challenges that result in burning up a lot of money and time. And that could lead to a lot more uncertainties and challenges.

At DNotes, we believe in doing our home and do the right thing. There are many alternative funding options that are perfectly legal. We believe that in the best interest of our stakeholders it pays to avoid taking the risk of exploiting gray areas for possible loopholes.

My initial impression is that it seems like a strange way to do it--splitting the tokens into two other tokens. It might be a creative way to attempt to satisfy regulations. I don't think compliance is as complicated as some people say. I think the "sniff" test the regulators use is going to be: "If it walks like a duck, quacks like a duck..." In other words, if it in any way functions as an investment product, it's going to be considered a security by the regulators unless there are specific rules allowing for your particular "exception."

[Brandon Cheliak]

You've Been Warned, SEC Head Says Of Cryptocoin Offerings

https://www.law360.com/articles/986080/you-ve-been-warned-sec-head-says-of-cryptocoin-offerings

Jay Clayton said his office will start taking action against coin offering issuers who fail to register with the agency or comply with federal laws.

"I think that now we have given the market a sufficient warning where we can move from level-setting the field to enforcing it," Clayton said, responding to a question from Manhattan District Attorney Cy Vance Thursday morning at the Federal Reserve Bank of New York, where Clayton was the event’s keynote speaker.

"Where we see fraud, and where we see people engaging in offerings that are not registered, we are going to pursue them because these types of things have a destabilizing effect on the market," the SEC chair added.

[Chase]

Mainstream media moment...

Forbes now has a Digital Money section with a Twitter account name of @ForbesCrypto.

https://www.forbes.com/digital-money/#247d7e5d53d1

[DNotes]

I bought into this ICO a while back, and now these guys are doing some things I thought DNotes might be able to learn from, or at lease watch them as  case study on how the are handling compliance issues. DCORP (DRP) is building a futures trading platform, so not the same arena as DNotes. A couple main things to follow:

They are converting their main ICO token into two different tokens, eliminating the original.  One is a "Utility Token" (DRPU)with double the voting rights, the other a "Securities Token" (DRPS) with equity/profit rights to the development.

They will have a "Token Changer" on their website to do this with.  Send in DRP, change out for either of the two mentioned above for no fee the first time.  It will be interesting to see the functionality of this.

They have the new U and S coins listing soon on different exchanges.  The two different versions will be trading at the same time(well, 3 including the original).

DRP will also require personal information to do this swap.  KYC, etc.  ....interesting

There's a few other things I like how there doing.  Weekly video updates with a real person, not animations.  Descent P.R.  Most found on their youtube channel.  Here's a couple links for your review.

https://www.youtube.com/watch?v=OXYo-R3MRl8
https://www.dcorp.it/
description of coin split  https://us10.campaign-archive.com/?u=be7fe07e359e8aa8f29f7000d&id=d0c84e6612
https://bitcointalk.org/index.php?topic=1928628.1800

I have mixed opinions on all this.  More interested in what our community thinks.

 

I have a very busy day on my schedule. Thank you, all, for some amazing posts. Tim’s list of mobile applications is very helpful. Please keep your great ideas coming.

Thank you, Denver Dan for sharing. Let me make a quick comment on DRP.

“We anticipate a substantial amount of DRP holders are based in the United States or other countries where it is very unclear as to what is or is not classified as a security.” I don’t mean to be harsh and wish that ICOs are not constrained by the lack of legal clarities. What I do know is that it is illegal to sell securities in the United States that are not registered or exempt with SEC.

Now what?  “Because of the nature of the smart contracts, DRPU and DRPS will not be listed on exchanges until after the tokens are unlocked. We encourage patience as we work to implement these changes in hopes that we will provide a lawful and safe network for everyone’s usability.”

Frankly, I have grave concern on this one. We can hope for anything. I fear that they may end with up many legal challenges that result in burning up a lot of money and time. And that could lead to a lot more uncertainties and challenges.

At DNotes, we believe in doing our home and do the right thing. There are many alternative funding options that are perfectly legal. We believe that in the best interest of our stakeholders it pays to avoid taking the risk of exploiting gray areas for possible loopholes.

My initial impression is that it seems like a strange way to do it--splitting the tokens into two other tokens. It might be a creative way to attempt to satisfy regulations. I don't think compliance is as complicated as some people say. I think the "sniff" test the regulators use is going to be: "If it walks like a duck, quacks like a duck..." In other words, if it in any way functions as an investment product, it's going to be considered a security by the regulators unless there are specific rules allowing for your particular "exception."

Thanks for sharing Denver Dan, I just read through their website / white paper / and watched a few of their videos. Interesting project, and though it may be difficult to enter the system, it looks like once you enter the system it will be fairly simple to use. I also appreciate that they appear to be real people and willing to put themselves out there. From what I understand they are trying to democratize VC and create a smart contract based exchange with a simple web interface and built on Ethereum. Because the token was created by crowdsale, they are considered a security and as a result are having trouble being listed on exchanges. So in order to circumvent this problem and get listed on exchanges, they split the token into two, which they are saying one is a utility token. Both tokens can be swapped on their platform and in theory the utility token should be free to be traded on non-security based exchanges. But wasn't the utility token derived essentially from the crowdsale?

It would still take much more research to fully understand where they are headed and I still have many questions. Some include, and don't worry about answering these, I am just posing questions for the sake of sharing my thought process and what I would look into next. Are the crowdsale funds used only to fund the project? If so, how does the project sustain itself long term, will there be future crowdsales? Will there be means for them to participate and take profit from the new projects created on their platform? Are new coins generated at the time of new projects being created or is it a fixed supply? What drives the value of the token? Is the token value relative to the success of the projects on the platform? What type of projects can be created on the platform?

[DNotes]

People won't use cryptocurrency if it doesn't better their life, so why...
I think that mobile phone based payment systems will become the most common form of 'physical' transaction one day. It is likely that the most successful one will integrate with one or more cryptocurrencies, but equally as likely that it won't interact with more cryptocurrencies than the market accepted as competitors in the credit card industry.

So many people will move over to cryptocurrency when it is the simplest and most functional solution. I know after topping up my fiat currency hardware wallet two weeks previously, I've looked at it, and wondered where all the dollars went. I've also tried hanging onto all receipts and adding them up or entering them into a home accounting system. It was not fun. But using a mobile phone based wallet, I could have all my 'cash' expenditure information at my fingertips without doing anything.

Maybe New Zealand will lead the world on this, not China. I just read an interesting round up of many country's central banks' opinions regarding cryptocurrency. The most interesting part was this:

"The Reserve Bank of New Zealand, once a pioneer on the global stage with its early introduction of an inflation target, said Wednesday it’s considering its future plans for currency issuance, and how digital units may fit into those strategies. “Work is currently underway to assess the future demand for New Zealand fiat currency and to consider whether it would be feasible for the reserve bank to replace the physical currency that currently circulates with a digital alternative,” the RBNZ said in what it termed an analytical note."
https://www.bloomberg.com/news/articles/2017-11-26/what-the-world-s-central-banks-are-saying-about-cryptocurrencies
Any news TeeGee?

So even if the richest people in the world get into cryptocurrency in a big way, I still think that everyone will eventually join in because of its functionality. It is also more secure in that you can store the same value in a physical way in multiple locations that can't be stolen if part of it is stored independently. So sure, due to buying pressure, the value of a single coin might be inaccessible. But I don't see the single coin price having an impact on everyday people who can buy the fraction of a coin they need for daily purchases. A single bitcoin would have to be worth more than US$100,000,000 before the satoshi becomes a bad choice for buying coffee. At that point, a fork will add some more decimal places.

Mobile will play a huge role in the future of payments and cryptocurrency mass acceptance. It will have to be fast, adaptive to users habits, secure and recoverable, functional and simple to sign up and use. There are mobile cryptocurrency options today, but in order to use them there are trade offs in risk/cost/functionality and most of them are not easy. Progression will likely be done in phases, making it almost a seamless transition to the end user. The first step will be to integrate into the existing financial system, where there will need to be a trusted third party provider.

This is part of the role that DNotes Global Inc will play in the pursuit of bridging the gap between the centralized and decentralized with significant interest in making it cost effective as well as meeting the criteria above, in contrast to other third party providers without significant interest in the success of the currency itself. There will still be a desire and need for those tech savvy individuals that understand how to protect themselves and willing to take on their own risk, and we will help provide solutions for these individuals as well.

This is a great list of criteria for a successful mobile-payments app. I would like to add two extra things, that sit further down the priority list. Then some other numbered thoughts.

1) It must be able to work with multiple sources of funds, both fiat and selected cryptocurrencies. I'm thinking a partnership with Revolut would be worth considering. My guess is that most customers would not mind if it worked like a digital wallet that needs topping up from their preferred fund source. This would be especially true if it enabled 'draining' back into that fund source as well.

2) It must enable hotspot/mesh style mobile access via the seller's connection. That way ANY customer with a mobile device can transact even if they don't have a data connection at that time.

3) Another feature that would give the mobile application a significant advantage is non-sellers being able to accept mobile payments seamlessly. Often, and particularly as a parent, the money that came out of my wallet went to another person, not as a transaction. If this was easy to do, then it would truly feel like a digital wallet.

4) User defined limits and protocols would also give customers confidence. I could set a limit of $20 per instance and $100 per day for direct personal transactions. Then a higher limit to sellers and so on. I would even like to make settings for large planned transactions. So I could be buying a bedroom suite, and have transferred a lot more money into my wallet than I usually carry. But that large sum would be allocated to seller accounts linked to an Australian Business Number. I'd be much happier with that than walking around with a few thousand in cash.

I don't believe DNotes should expend energy or finances developing this solution. It is neither their core business nor their strength. Nor would it give their currency a market advantage because the world's most popular mobile wallet will work with multiple fund inputs seamlessly. But DNotes should be continuously on the lookout for and building relationships with all entities attempting this so that DNotes are an accepted fund source from the beginning.

DNotes should also be designing DNotes2.0 so that it uses standard approaches to integration into such a system as third-party digital wallets might expect. This would include fast transaction speeds, defined level of certainty after not too many blocks are forged, stable and functional api rules and so on.

What DNotes are doing really well, and possibly leading the market in, is recognising the importance of a stable price. Their POS shift stopping miner sales, and their generous staking rewards that include 12 month bonuses, all contribute to price stability. Also their long-term vision and steady progress, coupled with a well developed ecosystem makes it clear to investors that long-term trading is going to be more profitable than short-term trading. This price stability is very important for users wanting to transfer funds out of their DNotes account into a third-party wallet, because otherwise they would fear losing money if they transferred before a sudden spike in value. Without price stability, there would also be a huge reluctance to top up a wallet when the value source is perceived to currently be in an extreme, but very short term dip in value.

So if DNotes Global Inc gets DNotes2.0 right, I see them as being in a very strong position for early acceptance into all new mobile wallet projects. 

Excellent TimMarsh, there are some great ideas in here.

1) Agreed, although it is a long term goal in the overall project, we are interested in a multi-currency card which will extend to a mobile payment system.

2) We have looked at systems that operate in an offline capacity and still able to transact, many of the proposed systems could have exploits in a fully decentralized platform, unless there is a way to reach the online network. If one of the parties or someone in the mesh have a connection to the greater network, the authorization could be passed from one device to another and on to the network, this type of a system could work in either a decentralized or centralized payment network. Though I am sure there may be other implications we haven't fully realized yet.

3) Absolutely!

4) Exactly! Triggers will be a very useful tool for not only the individual in loss prevention and fraud detection, but also from the third party standpoint. The more you want to send, the more criteria such a system might require to enable the transaction.

[DCEBrief]

BitFlyer to Launch in US

https://dcebrief.com/bitflyer-to-launch-in-us/

[TimMarsh]

The next series of Four Pillars of Business Success videos are now available.

Chapter 5 - Strategy

https://youtu.be/2fMOWZzES0M

Strategy and Course-Correction https://youtu.be/5Oww52110xE

How Can You Recognize When Your Strategy is Failing? https://youtu.be/yXmQ4DdSj0s

Strategy: Who’s in Charge, Anyway? https://youtu.be/kZnZFfsxR0I

Again, another great set of informative videos.

What I liked most about it is the underlying message that strategic thinking can be learnt and continuous usage of it will make it second nature. This is a really important point to make. In our current world we like to make idols out of people, and successful people are always portrayed as having unique talents and abilities. It is rare in media now to hear about how those talents or abilities were gained and trained.

Something else that I was glad to see in these videos was a focus on detail. Strategies without details are just broad plans that can't be followed or monitored. And monitoring implementation is the only way to avoid failure. I've seen a lot of strategic plans when working in government and as soon as I see vague or un-measurable goals, I know the plan won't be executed effectively. Experience has proven time and again, that if milestones aren't specific, they don't get reached. I've also seen strategic plans fail because the elements of the plan don't or can't connect to achieve the final outcome that is aimed for.

One notorious one that I recall, did little more than increase performance levels and required outcomes across the board by about 10–20% depending on teams. This was intended to increase net revenue by 15%. The whole thing was laughable because continuing to do what was causing a loss, and doing more of it, was never going to turn a profit. So there were all of these carefully laid out milestones to a goal that was in the other direction. And yes, it failed.

I know DNotes Global Inc has shared their broad plans as a road map, and I do understand that handing out the detailed strategic plan is not a strategic move, but at some time in the future, once all of the milestones have been met, and it has done its job, I really hope they publish their strategic plan as a learning tool for others.

[DNotes]

The next series of Four Pillars of Business Success videos are now available.

Chapter 5 - Strategy

https://youtu.be/2fMOWZzES0M

Strategy and Course-Correction https://youtu.be/5Oww52110xE

How Can You Recognize When Your Strategy is Failing? https://youtu.be/yXmQ4DdSj0s

Strategy: Who’s in Charge, Anyway? https://youtu.be/kZnZFfsxR0I

Again, another great set of informative videos.

What I liked most about it is the underlying message that strategic thinking can be learnt and continuous usage of it will make it second nature. This is a really important point to make. In our current world we like to make idols out of people, and successful people are always portrayed as having unique talents and abilities. It is rare in media now to hear about how those talents or abilities were gained and trained.

Something else that I was glad to see in these videos was a focus on detail. Strategies without details are just broad plans that can't be followed or monitored. And monitoring implementation is the only way to avoid failure. I've seen a lot of strategic plans when working in government and as soon as I see vague or un-measurable goals, I know the plan won't be executed effectively. Experience has proven time and again, that if milestones aren't specific, they don't get reached. I've also seen strategic plans fail because the elements of the plan don't or can't connect to achieve the final outcome that is aimed for.

One notorious one that I recall, did little more than increase performance levels and required outcomes across the board by about 10–20% depending on teams. This was intended to increase net revenue by 15%. The whole thing was laughable because continuing to do what was causing a loss, and doing more of it, was never going to turn a profit. So there were all of these carefully laid out milestones to a goal that was in the other direction. And yes, it failed.

I know DNotes Global Inc has shared their broad plans as a road map, and I do understand that handing out the detailed strategic plan is not a strategic move, but at some time in the future, once all of the milestones have been met, and it has done its job, I really hope they publish their strategic plan as a learning tool for others.

Thanks TimMarsh, we fully anticipate DNotes Global Inc can one day be used as a business case study and a model to examine for future entrepreneurs along with the Four Pillars of Business Success book and package. As you mentioned the broad plans are all laid out, and much more static than the finer details of the strategy. Much of the finer details of the strategy are fluid and adaptive, you chose a direction, you research, you look at what has been done and what others are doing, you play it out in your mind, re-evaluate, adapt to the foreseen challenges and issues, and repeat the process. With as much planning and detail as you can muster, there will still be the unforeseen, which you will need to adapt to on the fly.

The guidance for entrepreneurs to build a successful business, as laid out in the book and membership site, are powerful and we believe they can have a meaningful impact on the business world. One small example: If you ask Alan, from his experience in helping business owners, what is the biggest issue... They often respond that they cannot find the right employees. Alan would in turn ask, did you put up an ad looking for bad employees? As to suggest are all employees bad, or is there another problem here. Now imagine if you can transform that mindset from an adversarial one, to one that serves the mutual interest of both the company and the employees with a unified purpose of fulfilling the company’s goals, missions, and the ultimate vision.

[Dyna]

The next series of Four Pillars of Business Success videos are now available.

Chapter 5 - Strategy

https://youtu.be/2fMOWZzES0M

Strategy and Course-Correction https://youtu.be/5Oww52110xE

How Can You Recognize When Your Strategy is Failing? https://youtu.be/yXmQ4DdSj0s

Strategy: Who’s in Charge, Anyway? https://youtu.be/kZnZFfsxR0I

Again, another great set of informative videos.

What I liked most about it is the underlying message that strategic thinking can be learnt and continuous usage of it will make it second nature. This is a really important point to make. In our current world we like to make idols out of people, and successful people are always portrayed as having unique talents and abilities. It is rare in media now to hear about how those talents or abilities were gained and trained.

Something else that I was glad to see in these videos was a focus on detail. Strategies without details are just broad plans that can't be followed or monitored. And monitoring implementation is the only way to avoid failure. I've seen a lot of strategic plans when working in government and as soon as I see vague or un-measurable goals, I know the plan won't be executed effectively. Experience has proven time and again, that if milestones aren't specific, they don't get reached. I've also seen strategic plans fail because the elements of the plan don't or can't connect to achieve the final outcome that is aimed for.

One notorious one that I recall, did little more than increase performance levels and required outcomes across the board by about 10–20% depending on teams. This was intended to increase net revenue by 15%. The whole thing was laughable because continuing to do what was causing a loss, and doing more of it, was never going to turn a profit. So there were all of these carefully laid out milestones to a goal that was in the other direction. And yes, it failed.

I know DNotes Global Inc has shared their broad plans as a road map, and I do understand that handing out the detailed strategic plan is not a strategic move, but at some time in the future, once all of the milestones have been met, and it has done its job, I really hope they publish their strategic plan as a learning tool for others.

Thanks, Tim. Great comments. “… strategic thinking can be learnt and continuous usage of it will make it second nature.” Very true, but like any skill set, some are more talented in mastering it than others. One of my strengths is strategic thinking and execution. To be fair, I am very highly focused and willing to work very hard to gain a deep knowledge on the subject matter. If I know that subject matter as well or better than you do, I am confident that I can instinctively “out-smart” you with winning strategies. Better yet, until I am way ahead of the game, you may have no clue that at the end I will be the winner.  

Correct. “… how those talents or abilities were gained and trained.” Bill Gates, Steve Jobs, Jack Ma, and other successful men were once average young men, like most of us at that early age. No one could have predicted their immense success in life. They all got a “lucky break”. While many would let it pass by, they recognized it and exploited it. They became obsessed about it and gave it all they got. That obsession and lots of practice led them to deep knowledge and tenacity to hang on with the determination to win at the end. They were able to figure out the best strategies and be better than any of their competitors, by a long shot. They got better at it each time, and it became instinctive, or second nature.

“Strategies without details are just broad plans that can't be followed or monitored.” This is especially true for strategies that involve others, especially larger groups. It is also important that everyone is on the same page with the same mind-set. For those interested, watch my video on why single united culture always out-performs others every time.

That is correct. “…  if milestones aren't specific, they don't get reached.” Milestones and goals must always be quantifiable and date certain.” For example, I want to be a rich man one day.” It’s meaningless, as a goal. If you ended up being rich – you got lucky. Try this for a change. “My goal is to have a net worth of $2 + million by my 35th birthday.” With that you can map out what you need to do and sharpen your strategic thinking and execution along the way. It is measurable and date certain.

I have the feeling that very few people realize that strategic value of my book. Hopefully, many will find out in 2018 when it becomes obvious. It’s been a long day – I will continue tomorrow.

[Chase]

Bitcoin's wild volatility isn't stopping people from buying. Coinbase added 100,000 users in a single day (Nov 27th), and Blockchain.info added 120,000 on Nov 28th.


Bitcoin broke $11,000, then plunged 18%, as thousands of newbies signed up for cryptocurrency wallets

https://qz.com/1142641/bitcoin-price-took-thousands-of-newbies-on-a-rollercoaster-ride-as-it-broke-11000-then-fell/?utm_source=YPL&yptr=yahoo

[TeeGee]

It is going to be very interesting to see what NZ does in regards to considering issuing its own digital currency. I have many questions regarding how they would do this, and in particular, an interest in the ease that a system would make it to swap the NZ dollar tokens for other cryptocurrencies. I would absolutely support NZ becoming a leader in this regard, and I do play on my day off tomorrow to write the Reserve Bank an e-mail and make myself available. I have consulted ~10 people from two large government organisations here in New Zealand already regarding their official positions on digital currency.

My main questions are:

1. Would the Central Bank issue the tokens?

• Would they be replacements for current units of money, or inflation to the current amount already outstanding?
• Inflation rate? / would the blockchain be permissionless so the public can view the current money supply and trace issuance of new money etc?

2. Could the digital NZ dollars also be privately issued by banks?

Would the units held by banks be limited to the number of 'normal' New Zealand dollars held? (at least initially since there will be overlap for several years). If a bank had 100 million New Zealand dollars, and also 100 million New Zealand crypto dollars, and the law stipulated that only one of 'each dollar' (100m) can be in circulation at any time, it would not make any difference to banks if customers withdrew either currency type. For example: if I chose to deposit 100 New Zealand dollars into the bank, they can loan that out to other customers under reserve banking rules. I can then decide to withdraw that money (and it hits their reserve fund to make loans), but if I instead withdrew that money in New Zealand crypto dollars, then the bank could still hold onto that original 100 New Zealand dollars for loaning purposes. If at any time in the future I wanted my money in physical cash, the bank could exchange my New Zealand crypto dollar tokens for New Zealand cash.

3. Would banks be expected to accept customer deposits that originate from crypto exchanges, where it is likely the funds were previously held in other cryptocurrencies?

4. Would the currency in any way be made proprietary to function with Central Bank oversight, only usable within the current banking framework -- i.e. only mainstream banks will have compatible software through licencing that will work with the currency?

No attempts to create proprietary applications for the NZ crypto dollar that would attempt to prevent it from being traded directly, or into other currencies peer to peer?

Okay, so I say I'm interested in your opinion, and you respond by setting up a meeting with the Reserve Bank of New Zealand. You know that's even taking "above-and-beyond" to a whole new level, and very much appreciated.

Two things that many managers of central banks were concerned about in the linked article, were
1) Runs on banks. I think this is because, unlike hard cash that banks can refuse to put into withdrawal machines or hand over the counter, a national cryptocurrency can't be withheld.

2) Privacy concerns. None of the quoted managers elaborated on what that meant, but I think it is both true and hypocritical of them. How can you say that cryptocurrencies are bad because they are used for purchasing illegal goods and services, and then turn around and say "we need hard cash because it provides necessary privacy that traceable and permanently exposed cryptocurrencies can't."?

So I would be very interested to hear what the New Zealand managers think about these two questions as well. Best of luck and thanks for championing the cause of cryptocurrency at a national level. I hope you're keeping fit and trim because they're going to make a bronze statue of you one day.

The run on bank concern would be a major issue for them, and I think seeing proprietary apps that will see central bank issued digital dollars only passing through licensed money institutions (every user must have a bank account) becoming a thing. Alternatively, the bank run issue would be inhibited somewhat by interest payments that are made by holding money at the bank, very similar to the clever system DNotes are introducing at the DNotesVault -- where DNotes holders are encouraged to store their funds safely to in return receive interest payments directly from the blockchain (rather than from loaning activities by banks where a collateral risk exists).

The whole privacy thing wouldn't matter with a central bank coin in my opinion, as they would be unlikely to issue a currency with blockchain that *they* couldn't see every transaction with. They would probably also try to add protections from tumbling software and third party applications that would otherwise create open-source privacy solutions (litigate them to oblivion). I'm not sure of the context, but I imagine the person is speaking as though every private citizen would be able to view the blockchain as the way we can Bitcoin and that this is dangerous, but as I've said I don't think a government would go for this (but they'll want to see it themselves -- permissioned blockchain).

It will be interesting to see what NZ officials think on these issues. We've had a change in government recently, one that would try to micromanage as much of the economy as they could politically get away with (the party who got by far the most votes, around 45% is in opposition). Though NZ tends to take a more relaxed 'hands off' approach to most things. Currently we're about the most or second most economically free country in the world. Though I do expect a drop now somewhat in those rankings (especially if they introduce capital gains taxes here). One advantage of a new government is that they're always looking to make a big statement... mandate crypto for everyone? I think I could positively contribute to their strategic vision.

[TimMarsh]

The guidance for entrepreneurs to build a successful business, as laid out in the book and membership site, are powerful and we believe they can have a meaningful impact on the business world. One small example: If you ask Alan, from his experience in helping business owners, what is the biggest issue... They often respond that they cannot find the right employees. Alan would in turn ask, did you put up an ad looking for bad employees? As to suggest are all employees bad, or is there another problem here. Now imagine if you can transform that mindset from an adversarial one, to one that serves the mutual interest of both the company and the employees with a unified purpose of fulfilling the company’s goals, missions, and the ultimate vision.

I am certainly looking forward to the day where the history of the inner workings of DNotes Global Inc. can be used as examples in the book.

As for getting the right employee, I believe the trick is to recognise that some things can be trained and some things can't. Skills and knowledge are trainable. Optimism, conscientiousness, tenacity, resourcefulness, these are much harder to teach. I used to hire cleaners, by giving nearly all applicants a go and letting them know that they have a less than ten percent chance of getting the job, so think of it as a day's paid work experience. I'd then watch them as we worked and take note of the untrainable characteristics. If they were awkward with a mop, I didn't really care. If they naturally moved quickly, noticed something being left behind, looked for a new approach when something was not working, I'd keep them.

And then there is that thing that is neither innate nor trainable. You point it out well in referring to how people can be inspired and work as a cohesive team. Alan talks about the importance of not just having a vision, but making sure all staff understand and believe in it. I learnt how to motivate people who worked in the worst conditions. And all of this immediate and responsive behaviour is the trickiest to master. But learning to master it generates the most results.

[TimMarsh]

Two things that many managers of central banks were concerned about in the linked article, were
1) Runs on banks. I think this is because, unlike hard cash that banks can refuse to put into withdrawal machines or hand over the counter, a national cryptocurrency can't be withheld.

2) Privacy concerns. None of the quoted managers elaborated on what that meant, but I think it is both true and hypocritical of them. How can you say that cryptocurrencies are bad because they are used for purchasing illegal goods and services, and then turn around and say "we need hard cash because it provides necessary privacy that traceable and permanently exposed cryptocurrencies can't."?

So I would be very interested to hear what the New Zealand managers think about these two questions as well. Best of luck and thanks for championing the cause of cryptocurrency at a national level. I hope you're keeping fit and trim because they're going to make a bronze statue of you one day.

The run on bank concern would be a major issue for them, and I think seeing proprietary apps that will see central bank issued digital dollars only passing through licensed money institutions (every user must have a bank account) becoming a thing. Alternatively, the bank run issue would be inhibited somewhat by interest payments that are made by holding money at the bank, very similar to the clever system DNotes are introducing at the DNotesVault -- where DNotes holders are encouraged to store their funds safely to in return receive interest payments directly from the blockchain (rather than from loaning activities by banks where a collateral risk exists).

The whole privacy thing wouldn't matter with a central bank coin in my opinion, as they would be unlikely to issue a currency with blockchain that *they* couldn't see every transaction with. They would probably also try to add protections from tumbling software and third party applications that would otherwise create open-source privacy solutions (litigate them to oblivion). I'm not sure of the context, but I imagine the person is speaking as though every private citizen would be able to view the blockchain as the way we can Bitcoin and that this is dangerous, but as I've said I don't think a government would go for this (but they'll want to see it themselves -- permissioned blockchain).

It will be interesting to see what NZ officials think on these issues. We've had a change in government recently, one that would try to micromanage as much of the economy as they could politically get away with (the party who got by far the most votes, around 45% is in opposition). Though NZ tends to take a more relaxed 'hands off' approach to most things. Currently we're about the most or second most economically free country in the world. Though I do expect a drop now somewhat in those rankings (especially if they introduce capital gains taxes here). One advantage of a new government is that they're always looking to make a big statement... mandate crypto for everyone? I think I could positively contribute to their strategic vision.

Thanks for your insights TeeGee. I've got so little confidence in private blockchains that I hadn't considered a bank using it. To be secure, private blockchains require about the same level of security as an in-house database does. Hacking all the connected computers, running off the same image may even be easier. And for everything other than security and public access to data, an in-house database has all the advantages of speed, power, efficiency, governance, and much more. But maybe I've still got a lot more to learn about private blockchains.

I found your take on central banks having privacy concerns interesting. I'd made the mistake of thinking they were concerned about blockchains exposing all customer transactions. But your comment made me realise they could equally be talking about customers hiding what they are doing with their money via tumbling etc. I still love the idea that they could be worried about them both having and losing privacy at the same time.

As for how much a country might save by closing down its mint... I looked into the New Zealand mint just then and noticed they are doing very well out of bullion and the manufacture of commemorative coins, even for other markets. Even so, they'd be making even more profits if they made less money(polymer and metal local currency).

[j2ee]

So this is still just a concept and nothing to mine yet?

[j2ee]

I am mining dnotes and the hash rate is around 250 KH/s with RX460. Is this a normal number for this display card?