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Author Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay  (Read 148798 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (3 posts by 1+ user deleted.)
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December 17, 2017, 01:55:32 AM
 #2161


Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.  


That's great news to hear that things are moving forward. I'm not an accredited investor, but definitely would like to participate in the mini IPO, so please keep me in the loop as that gets closer to launching.

Certainly. We will be keeping everyone in the loop. Our philosophy has always been to make DNotes accessible to anyone worldwide to participate. Our mini IPO will make it possible for us to legally reach-out to accredited and non-accredited investors worldwide. We will be filling a registration statement with the SEC early next year. It typically takes 4 to 5 months to be "qualified" under SEC rules. We can start our promotions earlier but can only accept any investment after we are qualified.

There is virtually no barrier for anyone to participate in the DNotes project. We are making it possible for investors to have the best of both worlds; at liberty to participate in one or both - DNotes or DNotes Global shares, or both. Today one can invest $20 to purchase 1,000 DNotes on one the exchanges that lists DNotes. Once qualified by the SEC the same investor can purchase $200 of DNotes Global, Inc. shares at the same fixed price for everyone irrespective of the size of the investment. And every DNotes investor owns some amount of DNotes Global, Inc. This could be the best model for retail investors who are normally left out.

Alan this was truly amazing foresight. You have positioned DNotes to be a currency on the straight and narrow, in an industry full of scoundrels who are soon in for an unanticipated uphill battle vs the long arm of the law; and this was accomplished while still retaining DNotes' ability to adopt the most useful and innovative technology. I think a big part of the reason why some people in and out of our industry may not be realizing how starkly different DNotes is from the everyday cryptocurrency, is because there are so many moving parts that are still highly imperceptible to the untrained eye.

Thanks, Brandon. I think all your statements are very true. This is our turn, as a community, let's see how we can fine tune our message and get words out.We can use a few objective and unbiased articles addressing relevant issues.


"We can use a few objective and unbiased articles addressing relevant issues."

Could you please elaborate on this a bit so everyone is clear? There may be someone in the community that could help out by contributing an article. Smiley

Are the articles for the promotion of DNotes? Or, does the "objective and unbiased" mean the article is 'coinless'? In "addressing relevant issues", are you looking for material on issues that DNotes 2.0 will address? Any specific issues or ideas?

Thanks, Chase. I left it open-ended on purpose. I had a conversation with Joe on this subject earlier. He will be coordinating to encourage our community to start working on a list of subject matters to cover - using multiple print media and social media platforms. This should include articles for DCEBrief, DNotesEDU, LiknedIn, Blog Posts, Facebook and other social media. Additionally, we will be issuing press releases 2 to 4 times a month beginning in January. I envision that we will have a press release update on each of our ecosystem, as well as our family of CRISPs. They are all just as relevant today; in fact even more so. This is the time we need our community to pitch in the most. Free free to share any ideas you may have. Thanks.

Thank you Alan, the team at DNotesEDU is working very hard on new content to be released around the time of DNotes 2.0 launch. Help from our supporters is greatly appreciated! There will be some highly fulfilling positions available at DNotesEDU for suitable candidates in the not too distant future, and preference will be given to those who have already begun to develop a working relationship with DNotesEDU.
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December 17, 2017, 02:25:12 AM
 #2162


Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.  


That's great news to hear that things are moving forward. I'm not an accredited investor, but definitely would like to participate in the mini IPO, so please keep me in the loop as that gets closer to launching.

Certainly. We will be keeping everyone in the loop. Our philosophy has always been to make DNotes accessible to anyone worldwide to participate. Our mini IPO will make it possible for us to legally reach-out to accredited and non-accredited investors worldwide. We will be filling a registration statement with the SEC early next year. It typically takes 4 to 5 months to be "qualified" under SEC rules. We can start our promotions earlier but can only accept any investment after we are qualified.

There is virtually no barrier for anyone to participate in the DNotes project. We are making it possible for investors to have the best of both worlds; at liberty to participate in one or both - DNotes or DNotes Global shares, or both. Today one can invest $20 to purchase 1,000 DNotes on one the exchanges that lists DNotes. Once qualified by the SEC the same investor can purchase $200 of DNotes Global, Inc. shares at the same fixed price for everyone irrespective of the size of the investment. And every DNotes investor owns some amount of DNotes Global, Inc. This could be the best model for retail investors who are normally left out.

Alan this was truly amazing foresight. You have positioned DNotes to be a currency on the straight and narrow, in an industry full of scoundrels who are soon in for an unanticipated uphill battle vs the long arm of the law; and this was accomplished while still retaining DNotes' ability to adopt the most useful and innovative technology. I think a big part of the reason why some people in and out of our industry may not be realizing how starkly different DNotes is from the everyday cryptocurrency, is because there are so many moving parts that are still highly imperceptible to the untrained eye.

Thanks, Brandon. I think all your statements are very true. This is our turn, as a community, let's see how we can fine tune our message and get words out.We can use a few objective and unbiased articles addressing relevant issues.


"We can use a few objective and unbiased articles addressing relevant issues."

Could you please elaborate on this a bit so everyone is clear? There may be someone in the community that could help out by contributing an article. Smiley

Are the articles for the promotion of DNotes? Or, does the "objective and unbiased" mean the article is 'coinless'? In "addressing relevant issues", are you looking for material on issues that DNotes 2.0 will address? Any specific issues or ideas?

Thanks, Chase. I left it open-ended on purpose. I had a conversation with Joe on this subject earlier. He will be coordinating to encourage our community to start working on a list of subject matters to cover - using multiple print media and social media platforms. This should include articles for DCEBrief, DNotesEDU, LiknedIn, Blog Posts, Facebook and other social media. Additionally, we will be issuing press releases 2 to 4 times a month beginning in January. I envision that we will have a press release update on each of our ecosystem, as well as our family of CRISPs. They are all just as relevant today; in fact even more so. This is the time we need our community to pitch in the most. Free free to share any ideas you may have. Thanks.

Thank you Alan, the team at DNotesEDU is working very hard on new content to be released around the time of DNotes 2.0 launch. Help from our supporters is greatly appreciated! There will be some highly fulfilling positions available at DNotesEDU for suitable candidates in the not too distant future, and preference will be given to those who have already begun to develop a working relationship with DNotesEDU.

Thank you, DNotesEDU. We are very fortunate to have your support and deeply appreciate your valuable contributions in many ways. Feel free to let me know if there is anything that I can be of help.
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December 17, 2017, 04:28:09 AM
 #2163


Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.  


That's great news to hear that things are moving forward. I'm not an accredited investor, but definitely would like to participate in the mini IPO, so please keep me in the loop as that gets closer to launching.

Certainly. We will be keeping everyone in the loop. Our philosophy has always been to make DNotes accessible to anyone worldwide to participate. Our mini IPO will make it possible for us to legally reach-out to accredited and non-accredited investors worldwide. We will be filling a registration statement with the SEC early next year. It typically takes 4 to 5 months to be "qualified" under SEC rules. We can start our promotions earlier but can only accept any investment after we are qualified.

There is virtually no barrier for anyone to participate in the DNotes project. We are making it possible for investors to have the best of both worlds; at liberty to participate in one or both - DNotes or DNotes Global shares, or both. Today one can invest $20 to purchase 1,000 DNotes on one the exchanges that lists DNotes. Once qualified by the SEC the same investor can purchase $200 of DNotes Global, Inc. shares at the same fixed price for everyone irrespective of the size of the investment. And every DNotes investor owns some amount of DNotes Global, Inc. This could be the best model for retail investors who are normally left out.

Alan this was truly amazing foresight. You have positioned DNotes to be a currency on the straight and narrow, in an industry full of scoundrels who are soon in for an unanticipated uphill battle vs the long arm of the law; and this was accomplished while still retaining DNotes' ability to adopt the most useful and innovative technology. I think a big part of the reason why some people in and out of our industry may not be realizing how starkly different DNotes is from the everyday cryptocurrency, is because there are so many moving parts that are still highly imperceptible to the untrained eye.

Thanks, Brandon. I think all your statements are very true. This is our turn, as a community, let's see how we can fine tune our message and get words out.We can use a few objective and unbiased articles addressing relevant issues.


"We can use a few objective and unbiased articles addressing relevant issues."

Could you please elaborate on this a bit so everyone is clear? There may be someone in the community that could help out by contributing an article. Smiley

Are the articles for the promotion of DNotes? Or, does the "objective and unbiased" mean the article is 'coinless'? In "addressing relevant issues", are you looking for material on issues that DNotes 2.0 will address? Any specific issues or ideas?

Thanks, Chase. I left it open-ended on purpose. I had a conversation with Joe on this subject earlier. He will be coordinating to encourage our community to start working on a list of subject matters to cover - using multiple print media and social media platforms. This should include articles for DCEBrief, DNotesEDU, LiknedIn, Blog Posts, Facebook and other social media. Additionally, we will be issuing press releases 2 to 4 times a month beginning in January. I envision that we will have a press release update on each of our ecosystem, as well as our family of CRISPs. They are all just as relevant today; in fact even more so. This is the time we need our community to pitch in the most. Free free to share any ideas you may have. Thanks.

Thank you Alan, the team at DNotesEDU is working very hard on new content to be released around the time of DNotes 2.0 launch. Help from our supporters is greatly appreciated! There will be some highly fulfilling positions available at DNotesEDU for suitable candidates in the not too distant future, and preference will be given to those who have already begun to develop a working relationship with DNotesEDU.

Thank you, DNotesEDU. We are very fortunate to have your support and deeply appreciate your valuable contributions in many ways. Feel free to let me know if there is anything that I can be of help.

In 2018 we will certainly take you up on that offer, as our program expands your guidance will be crucial.
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December 17, 2017, 05:35:05 AM
 #2164

Proposed EU Rules Include New Requirements for Crypto Exchanges

https://dcebrief.com/proposed-eu-rules-include-new-requirements-for-crypto-exchanges/
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December 17, 2017, 03:57:36 PM
 #2165

Proposed EU Rules Include New Requirements for Crypto Exchanges

https://dcebrief.com/proposed-eu-rules-include-new-requirements-for-crypto-exchanges/


https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity

The rules are expected to come into effect in the next few months. The Treasury said digital currencies could be used to enable and facilitate cybercrime. It added: “There is little current evidence of them being used to launder money, though this risk is expected to grow.”


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December 17, 2017, 04:39:33 PM
 #2166

Proposed EU Rules Include New Requirements for Crypto Exchanges

https://dcebrief.com/proposed-eu-rules-include-new-requirements-for-crypto-exchanges/


https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity

The rules are expected to come into effect in the next few months. The Treasury said digital currencies could be used to enable and facilitate cybercrime. It added: “There is little current evidence of them being used to launder money, though this risk is expected to grow.”



As the value of Bitcoin and digital currencies continued to increase at break-neck pace, governments around the world will want to regulate them like money, regardless of how they labeled them. Perhaps any single transaction valued $10,000 or more will trigger some reporting. I hope that they will leave the lower threshold alone. 
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December 17, 2017, 05:21:55 PM
 #2167

Proposed EU Rules Include New Requirements for Crypto Exchanges

https://dcebrief.com/proposed-eu-rules-include-new-requirements-for-crypto-exchanges/


https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity

The rules are expected to come into effect in the next few months. The Treasury said digital currencies could be used to enable and facilitate cybercrime. It added: “There is little current evidence of them being used to launder money, though this risk is expected to grow.”



As the value of Bitcoin and digital currencies continued to increase at break-neck pace, governments around the world will want to regulate them like money, regardless of how they labeled them. Perhaps any single transaction valued $10,000 or more will trigger some reporting. I hope that they will leave the lower threshold alone. 


I agree that $10,000 dollar single transactions are a good baseline for comprehensive reporting (perhaps adjusted for inflation/deflation going forward). Going after the lower threshold will place additional strain on government resources, dumping extra burden on taxpayers who are funding these watchdog agencies. Although the majority of this process can be automated by using the blockchain API with the agencies software, human analysts will still be required to make sense of the data in a lot of cases.
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December 17, 2017, 08:45:56 PM
 #2168


Thanks, Brandon. I think all your statements are very true. This is our turn, as a community, let's see how we can fine tune our message and get words out.We can use a few objective and unbiased articles addressing relevant issues.

"We can use a few objective and unbiased articles addressing relevant issues."

Could you please elaborate on this a bit so everyone is clear? There may be someone in the community that could help out by contributing an article. Smiley

Are the articles for the promotion of DNotes? Or, does the "objective and unbiased" mean the article is 'coinless'? In "addressing relevant issues", are you looking for material on issues that DNotes 2.0 will address? Any specific issues or ideas?

Thanks, Chase. I left it open-ended on purpose. I had a conversation with Joe on this subject earlier. He will be coordinating to encourage our community to start working on a list of subject matters to cover - using multiple print media and social media platforms. This should include articles for DCEBrief, DNotesEDU, LiknedIn, Blog Posts, Facebook and other social media. Additionally, we will be issuing press releases 2 to 4 times a month beginning in January. I envision that we will have a press release update on each of our ecosystem, as well as our family of CRISPs. They are all just as relevant today; in fact even more so. This is the time we need our community to pitch in the most. Free free to share any ideas you may have. Thanks.

I have a few ideas for the list of articles and other material that the community could help with:

For DNotesEDU:

1. We all know how time consuming it is when the same questions get asked over and over on the forum. We can have a Frequently Asked Questions about DNotes, on the DNotesEDU page, and steer people there for answers. It would be really appreciated if someone could help round up all the important DNotes questions (and the best answers that have been given) from the forum. We can also add any other potential questions that we think will arise with DNotes.

2. Educational material on the following subjects: cryptocurrency in general (unbiased and with no specific coin mentioned), bitcoin, DNotes, or blockchain
    - Since this is for educational purposes, it needs to be easily understood by beginners.
    - Educational posts, articles, steps, infographics, short videos (?), easy to follow how-to guides, etc
    - Social media sized images for DNotes or DNotes properties that can be shared - info, facts, charts (ie. comparing POW and POS, benefits of_____(something DNotes related), etc.
    - The easiest ways to buy bitcoin in _________(your city, state, province, or country). Make it simple enough that a beginner can follow it without help. Later on, we can do this for DNotes.

Article Ideas anyone??  Smiley


"The true sign of intelligence is not knowledge but imagination." -Albert Einstein-

DNotes EDU – Cryptocurrency Education For All – Accomplishments of 2018
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December 17, 2017, 09:44:47 PM
 #2169

https://www.nextgencrowdfunding.com/
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December 18, 2017, 03:03:16 AM
 #2170


Thanks, Brandon. I think all your statements are very true. This is our turn, as a community, let's see how we can fine tune our message and get words out.We can use a few objective and unbiased articles addressing relevant issues.

"We can use a few objective and unbiased articles addressing relevant issues."

Could you please elaborate on this a bit so everyone is clear? There may be someone in the community that could help out by contributing an article. Smiley

Are the articles for the promotion of DNotes? Or, does the "objective and unbiased" mean the article is 'coinless'? In "addressing relevant issues", are you looking for material on issues that DNotes 2.0 will address? Any specific issues or ideas?

Thanks, Chase. I left it open-ended on purpose. I had a conversation with Joe on this subject earlier. He will be coordinating to encourage our community to start working on a list of subject matters to cover - using multiple print media and social media platforms. This should include articles for DCEBrief, DNotesEDU, LiknedIn, Blog Posts, Facebook and other social media. Additionally, we will be issuing press releases 2 to 4 times a month beginning in January. I envision that we will have a press release update on each of our ecosystem, as well as our family of CRISPs. They are all just as relevant today; in fact even more so. This is the time we need our community to pitch in the most. Free free to share any ideas you may have. Thanks.

I have a few ideas for the list of articles and other material that the community could help with:

For DNotesEDU:

1. We all know how time consuming it is when the same questions get asked over and over on the forum. We can have a Frequently Asked Questions about DNotes, on the DNotesEDU page, and steer people there for answers. It would be really appreciated if someone could help round up all the important DNotes questions (and the best answers that have been given) from the forum. We can also add any other potential questions that we think will arise with DNotes.

2. Educational material on the following subjects: cryptocurrency in general (unbiased and with no specific coin mentioned), bitcoin, DNotes, or blockchain
    - Since this is for educational purposes, it needs to be easily understood by beginners.
    - Educational posts, articles, steps, infographics, short videos (?), easy to follow how-to guides, etc
    - Social media sized images for DNotes or DNotes properties that can be shared - info, facts, charts (ie. comparing POW and POS, benefits of_____(something DNotes related), etc.
    - The easiest ways to buy bitcoin in _________(your city, state, province, or country). Make it simple enough that a beginner can follow it without help. Later on, we can do this for DNotes.

Article Ideas anyone??  Smiley




1. That is a fantastic idea!

We can come up with a list from support emails as well.

2. ICO research is a good topic I think. What exactly are you investing in? Did you read the details of the sale? How to find out more? Where to find information?
https://www.smithandcrown.com/icos/



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December 18, 2017, 05:44:36 AM
 #2171

Bitcoin Hits New Record High, But Misses $20,000 Mark

https://dcebrief.com/bitcoin-hits-new-record-high-but-misses-20000-mark/
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December 18, 2017, 07:39:05 AM
 #2172

Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Dec 8th 2016 average transaction fee - $0.26 USD
Dec 8th 2017 average transaction fee - $27.20 USD

Any thoughts on the implications this will have on the industry?

Brandon, your posts are consistently novelle and insightful. I'm always pleased when I see something new from you, and maybe I put more stock in your advice than is wise, only time will tell. Also, you can't take credit for 'spamming' when you bring such variety.

As for the effect of transaction fees becomming unworkable, I posted earlier:
I'm seeing awareness of the fact that you don't need to be a whole coin growing, which is working as an attractor for people who see bitcoin like buying a 'scratchie card' for $5 to see if they'll wind $20 with a vague hop of much more.

The thing that I see stopping a massive generalised public gamble from occurring is that the stakes are automatically raised by the current transaction fees. To make the $20 fee worthwhile, you need to be $100 or more on this new wheel of fortune. But if a fork comes through that successfully drops that transaction fees to keep them under one dollar, I'm expecting a massive price spike as petty investors flood the market.

Of course there's the other effect of businesses refusing to continue accepting bitcoin, like Steam. As I see it there are two likely final outcomes:
1) Bitcoin is no longer used for small or regular transactions and functions more like gold as a storage of value that is difficult and expensive to transform.

or

2) The bitcoin community recognises their current software is significantly decreasing the potential value of their holdings and upgrades their system to something that enables fast and cheap transactions for the foreseeable future. This is just as likely to come in the form of a hard fork.


Sorry Tim, I missed that post of yours when skimming through the forum, but glad I could help illustrate your point. I do think either of those scenarios are distinct possibilities, but even if these challenges are overcome or averted, how long will it be until the limits are reached again under the new implementation? Will those changes bring about new ways Bitcoin can be exploited for personal gain? Can Bitcoin even change its core programming to accommodate solutions to its inherent problems, or will a patchwork hold? You don't have to answer these, I'm just kind of musing to make people think.

Bitcoin's Lightning Network might alleviate some congestion, but if it fails or doesn't live up to expectations I think it's safe to say that BTC will be hard pressed to function as a currency for day to day commerce. I am curious to see how much impact on transaction fees it will have, as the majority of transactions they will likely facilitate are dust (micro), which are usually sent with zero transaction fees anyways. What incentive is there for lightning network upkeep? That's why right now these transactions are getting backed up in the mempool and can take forever to send, because there is no monetary incentive for miners, and the miners always process the most profitable transactions first.

Asking questions that you don't want answered; how can I resist?

I believe that it is incredibly hard to predict all of the brilliant ways people will find to misuse and abuse new technologies. But even so, the most effective way to design something with long-term usability is to predict as best as possible the total future use, and work back from there to design it. I've done a lot of database projects and learnt how important it is to get the foundations scoped out to the greatest possible extent, even if your initial project will barely touch its potential.

So in the case of a cryptocurrency designed for everyday use by all people for all transactions we need to ask, not only how many daily transactions are made by the averaged world citizen, we also need to ask how many more transactions could be made if it was faster, easier, cheaper, automated, borderless, more secure, and enabled fractions of a cent. Then while considering moments of daily peak usage, establish the number of transactions per second that would be required by multiplying that averaged world citizen by a future population estimate. That will give you a benchmark for the required capacity. Then you've got the basis to calculate transaction speeds, and blockchain growth rates. None of this is hard to do for a rough estimate. And while the numbers might look mind-boggling, they are nothing compared to the sort of calculations required when rendering a CGI movie or other processor intensive tasks.

But it soon becomes very clear that all current cryptocurrency designs are woefully inadequate to our future requirements. I've been developing some ideas that turn a lot of the current systems inside out, or other metaphors that horrifically distort our sense of space. And as with all untested ideas, I'm very confident that there are good solutions available. And I believe that these solutions could be applied to bitcoin. This is because bitcoin is nothing more than a blockchain that is written to by a network of programs that enable updates through group consensus. But because the solutions that I imagine are so radical, I'm happy to predict that the final winner is much more likely to be done as a hard fork.

But in general terms, yes. It is possible to create a system where the only conceivable way of overloading the capacity is for a population too big to be sustained by earth to make more transactions per second than could possibly provide any form of meaningful benefit. It would never need to be updated or upgraded to remain functional. This is because of some curious properties of network effects where only a minimal number of nodes with high-uniqueness connections are required for a network to have very short paths between any two given nodes and as the network grows, this property gets more effective, not less.

But what I'm talking about above is an end-game scenario. This is not required as the next great leap forward in cryptocurrencies. I'm of the opinion that shifting to POS like DNotes2.0 will deliver enough benefits to enable transaction fees to be reduced and block generation times to remain short for a much wider adoption and more frequent use of cryptocurrency. Instead of nodes doing thousands of redundant calculations to support the network and verify the blockchain, POS functions with a tiny fraction of that processor capacity. This enables much more work to be done efficiently and this solves many of the current problems. Then during this period of greater usage and adoption, the final solution can be designed and tested.

Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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December 18, 2017, 07:58:00 AM
 #2173

Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.   


What excites me most about the DNotes Global Inc. NextGenVC project is the impact a history of successful projects will have on attracting investors for future projects. With the combined business savvy that DNotes Global Inc. can bring to the table, I expect only projects with genuine potential will qualify for the program. And then through the insightful guidance provided by the resources being generated for the Four Pillars of Business Success, as well as direct mentoring by experienced professionals, these viable projects are much more likely to succeed.

Then after a string of these projects have rewarded investors by being successful, DNotes Global Inc. could work as a strong attractor for investors and high quality projects. The snowball effect could work like literary journals or science fiction magazines where quality editors recognise and develop excellent stories. Then it becomes the preferred place to work for quality editors, and the most prestigious magazine for quality writers to be published in.

Combined with the benefits of DNotes2.0 smart contracts, including the confidence that comes from increased security and lower operational costs, I'm excited to watch this project reach its true potential.

Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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December 18, 2017, 11:46:25 AM
Last edit: December 18, 2017, 12:09:47 PM by TeeGee
 #2174

Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC. 

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients. 

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.   


What excites me most about the DNotes Global Inc. NextGenVC project is the impact a history of successful projects will have on attracting investors for future projects. With the combined business savvy that DNotes Global Inc. can bring to the table, I expect only projects with genuine potential will qualify for the program. And then through the insightful guidance provided by the resources being generated for the Four Pillars of Business Success, as well as direct mentoring by experienced professionals, these viable projects are much more likely to succeed.

Then after a string of these projects have rewarded investors by being successful, DNotes Global Inc. could work as a strong attractor for investors and high quality projects. The snowball effect could work like literary journals or science fiction magazines where quality editors recognise and develop excellent stories. Then it becomes the preferred place to work for quality editors, and the most prestigious magazine for quality writers to be published in.

Combined with the benefits of DNotes2.0 smart contracts, including the confidence that comes from increased security and lower operational costs, I'm excited to watch this project reach its true potential.

NextGen VC is so brilliant in the aspect that businesses will be highly attracted to using it. There will be a strict vetting process, as the partnerships in NextGen VC will involve transfers of equity to DNotes Global from the partner company. With such a quality investing vehicle and array of services provided that will help businesses with crowdfunding / regulated ICOs / Venture financing and corporate management and strategy aid to ensure their success, I don't see how there wouldn't be a litany of potential partners waiting at DNotes Global's door. And this is all completely separate to the other services and functionalities that are being built for / planned for the ecosystem.

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December 18, 2017, 03:06:04 PM
Last edit: December 18, 2017, 03:30:37 PM by Dyna
 #2175

Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.  


What excites me most about the DNotes Global Inc. NextGenVC project is the impact a history of successful projects will have on attracting investors for future projects. With the combined business savvy that DNotes Global Inc. can bring to the table, I expect only projects with genuine potential will qualify for the program. And then through the insightful guidance provided by the resources being generated for the Four Pillars of Business Success, as well as direct mentoring by experienced professionals, these viable projects are much more likely to succeed.

Then after a string of these projects have rewarded investors by being successful, DNotes Global Inc. could work as a strong attractor for investors and high quality projects. The snowball effect could work like literary journals or science fiction magazines where quality editors recognise and develop excellent stories. Then it becomes the preferred place to work for quality editors, and the most prestigious magazine for quality writers to be published in.

Combined with the benefits of DNotes2.0 smart contracts, including the confidence that comes from increased security and lower operational costs, I'm excited to watch this project reach its true potential.

NextGen VC is so brilliant in the aspect that businesses will be highly attracted to using it. There will be a strict vetting process, as the partnerships in NextGen VC will involve transfers of equity to DNotes Global from the partner company. With such a quality investing vehicle and array of services provided that will help businesses with crowdfunding / regulated ICOs / Venture financing and corporate management and strategy aid to ensure their success, I don't see how there wouldn't be a litany of potential partners waiting at DNotes Global's door. And this is all completely separate to the other services and functionalities that are being built for / planned for the ecosystem.

NextGenVC is very exciting and strategic. TeeGee characterized it as one that “helps businesses with crowdfunding / regulated ICOs / Venture financing and corporate management and strategy aid to ensure their success.” And Tim pointed out that “through the insightful guidance provided by the resources being generated for the Four Pillars of Business Success, as well as direct mentoring by experienced professionals, these viable projects are much more likely to succeed.”  They are both good points, with a lot more.

Did we just pull that idea from the thin air? No. It has always been an integral part of our long-term master plan. Engaging the corporate world at multiple levels is one of our critical strategic building blocks to gain mass acceptances.

We created DNotesVault with a mission, among others, to make it super convenience for entrepreneurs and their employees to save for their retirement. We even created a CRISP for Employee Incentive Benefits Savings Plan. Additionally, it has taken me two years to write a business book, produce 70+ videos with full transcripts and bullet points. Chapter 15 is about the DNotes story and why the next generation of entrepreneurs must embrace it. I believe we have here a very well-constructed winning business strategy that has taken years to build, with equal or more time to execute.

This is a giant effort of engagement to gain mass acceptance of DNotes. Building a trusted brand, making DNotes accessible for everyone worldwide to participate, engaging the corporate world, and encouraging women’s participation have always been the core mission of DNotes. Once we start gaining momentum, it will be nearly impossible for others to replicate what DNotes is doing. That is the payoff of winning strategies well executed.

Back to NextGenVC briefly. Although not finalized at this point, we are thinking of allocating 50% of the funding proceeds to NextGenVC with a goal of doing one deal within the first 12 months and 3 deals in the subsequent year. Our earlier deals will be industry and Fintech focused. This will include software and financial services companies, possibly a community bank. High preference is given to situations that are perfectly aligned with our strategic paths. We are broad enough to have many choices.

I am now actively working on expanding our professional team which could include outside partners. Joe has been very busy in working to identify all viable software development firms in the Chicagoland area. We will be meeting with a few of them this week. Tim is working on a Pitch Deck and finishing the White Paper. With so much going on, we may need an executive office in Chicago next year.

DNotes will be very different a year from now. Our top three priorities are: launch DNotes 2.0, launch a funding campaign utilizing Reg. D 506 (c) with a subsequent Reg. A+ mini IPO Title IV Tier 2 to raise a maximum of $50 million from accredited and non-accredited investors worldwide, Launch NextGenVC with a team of management and technology consultants, backed with investable capital. We are totally committed to make all these happen in 2018, and let the price of DNotes take care of itself.  
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December 18, 2017, 04:41:02 PM
 #2176

Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Dec 8th 2016 average transaction fee - $0.26 USD
Dec 8th 2017 average transaction fee - $27.20 USD

Any thoughts on the implications this will have on the industry?

Brandon, your posts are consistently novelle and insightful. I'm always pleased when I see something new from you, and maybe I put more stock in your advice than is wise, only time will tell. Also, you can't take credit for 'spamming' when you bring such variety.

As for the effect of transaction fees becomming unworkable, I posted earlier:
I'm seeing awareness of the fact that you don't need to be a whole coin growing, which is working as an attractor for people who see bitcoin like buying a 'scratchie card' for $5 to see if they'll wind $20 with a vague hop of much more.

The thing that I see stopping a massive generalised public gamble from occurring is that the stakes are automatically raised by the current transaction fees. To make the $20 fee worthwhile, you need to be $100 or more on this new wheel of fortune. But if a fork comes through that successfully drops that transaction fees to keep them under one dollar, I'm expecting a massive price spike as petty investors flood the market.

Of course there's the other effect of businesses refusing to continue accepting bitcoin, like Steam. As I see it there are two likely final outcomes:
1) Bitcoin is no longer used for small or regular transactions and functions more like gold as a storage of value that is difficult and expensive to transform.

or

2) The bitcoin community recognises their current software is significantly decreasing the potential value of their holdings and upgrades their system to something that enables fast and cheap transactions for the foreseeable future. This is just as likely to come in the form of a hard fork.


Sorry Tim, I missed that post of yours when skimming through the forum, but glad I could help illustrate your point. I do think either of those scenarios are distinct possibilities, but even if these challenges are overcome or averted, how long will it be until the limits are reached again under the new implementation? Will those changes bring about new ways Bitcoin can be exploited for personal gain? Can Bitcoin even change its core programming to accommodate solutions to its inherent problems, or will a patchwork hold? You don't have to answer these, I'm just kind of musing to make people think.

Bitcoin's Lightning Network might alleviate some congestion, but if it fails or doesn't live up to expectations I think it's safe to say that BTC will be hard pressed to function as a currency for day to day commerce. I am curious to see how much impact on transaction fees it will have, as the majority of transactions they will likely facilitate are dust (micro), which are usually sent with zero transaction fees anyways. What incentive is there for lightning network upkeep? That's why right now these transactions are getting backed up in the mempool and can take forever to send, because there is no monetary incentive for miners, and the miners always process the most profitable transactions first.

Asking questions that you don't want answered; how can I resist?

I believe that it is incredibly hard to predict all of the brilliant ways people will find to misuse and abuse new technologies. But even so, the most effective way to design something with long-term usability is to predict as best as possible the total future use, and work back from there to design it. I've done a lot of database projects and learnt how important it is to get the foundations scoped out to the greatest possible extent, even if your initial project will barely touch its potential.

So in the case of a cryptocurrency designed for everyday use by all people for all transactions we need to ask, not only how many daily transactions are made by the averaged world citizen, we also need to ask how many more transactions could be made if it was faster, easier, cheaper, automated, borderless, more secure, and enabled fractions of a cent. Then while considering moments of daily peak usage, establish the number of transactions per second that would be required by multiplying that averaged world citizen by a future population estimate. That will give you a benchmark for the required capacity. Then you've got the basis to calculate transaction speeds, and blockchain growth rates. None of this is hard to do for a rough estimate. And while the numbers might look mind-boggling, they are nothing compared to the sort of calculations required when rendering a CGI movie or other processor intensive tasks.

But it soon becomes very clear that all current cryptocurrency designs are woefully inadequate to our future requirements. I've been developing some ideas that turn a lot of the current systems inside out, or other metaphors that horrifically distort our sense of space. And as with all untested ideas, I'm very confident that there are good solutions available. And I believe that these solutions could be applied to bitcoin. This is because bitcoin is nothing more than a blockchain that is written to by a network of programs that enable updates through group consensus. But because the solutions that I imagine are so radical, I'm happy to predict that the final winner is much more likely to be done as a hard fork.

But in general terms, yes. It is possible to create a system where the only conceivable way of overloading the capacity is for a population too big to be sustained by earth to make more transactions per second than could possibly provide any form of meaningful benefit. It would never need to be updated or upgraded to remain functional. This is because of some curious properties of network effects where only a minimal number of nodes with high-uniqueness connections are required for a network to have very short paths between any two given nodes and as the network grows, this property gets more effective, not less.

But what I'm talking about above is an end-game scenario. This is not required as the next great leap forward in cryptocurrencies. I'm of the opinion that shifting to POS like DNotes2.0 will deliver enough benefits to enable transaction fees to be reduced and block generation times to remain short for a much wider adoption and more frequent use of cryptocurrency. Instead of nodes doing thousands of redundant calculations to support the network and verify the blockchain, POS functions with a tiny fraction of that processor capacity. This enables much more work to be done efficiently and this solves many of the current problems. Then during this period of greater usage and adoption, the final solution can be designed and tested.

Thanks Tim, I believe you are correct in that it will be an evolution, and the evolution is critical to getting to the end result. Bitcoin may or may not be a major contender in everyday transactions, or play other significant roles in the foreseeable future, but the story doesn't end there. The technology will continue to grow within bitcoin itself as well as outside of it and begin to meet the criteria needed for everyday use in the real world. I think the most underrated factor here is connecting to the real world, in a way that really makes sense and makes it functional, without causing unnecessary additional burden.

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December 18, 2017, 06:03:25 PM
 #2177

Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Dec 8th 2016 average transaction fee - $0.26 USD
Dec 8th 2017 average transaction fee - $27.20 USD

Any thoughts on the implications this will have on the industry?

Brandon, your posts are consistently novelle and insightful. I'm always pleased when I see something new from you, and maybe I put more stock in your advice than is wise, only time will tell. Also, you can't take credit for 'spamming' when you bring such variety.

As for the effect of transaction fees becomming unworkable, I posted earlier:
I'm seeing awareness of the fact that you don't need to be a whole coin growing, which is working as an attractor for people who see bitcoin like buying a 'scratchie card' for $5 to see if they'll wind $20 with a vague hop of much more.

The thing that I see stopping a massive generalised public gamble from occurring is that the stakes are automatically raised by the current transaction fees. To make the $20 fee worthwhile, you need to be $100 or more on this new wheel of fortune. But if a fork comes through that successfully drops that transaction fees to keep them under one dollar, I'm expecting a massive price spike as petty investors flood the market.

Of course there's the other effect of businesses refusing to continue accepting bitcoin, like Steam. As I see it there are two likely final outcomes:
1) Bitcoin is no longer used for small or regular transactions and functions more like gold as a storage of value that is difficult and expensive to transform.

or

2) The bitcoin community recognises their current software is significantly decreasing the potential value of their holdings and upgrades their system to something that enables fast and cheap transactions for the foreseeable future. This is just as likely to come in the form of a hard fork.


Sorry Tim, I missed that post of yours when skimming through the forum, but glad I could help illustrate your point. I do think either of those scenarios are distinct possibilities, but even if these challenges are overcome or averted, how long will it be until the limits are reached again under the new implementation? Will those changes bring about new ways Bitcoin can be exploited for personal gain? Can Bitcoin even change its core programming to accommodate solutions to its inherent problems, or will a patchwork hold? You don't have to answer these, I'm just kind of musing to make people think.

Bitcoin's Lightning Network might alleviate some congestion, but if it fails or doesn't live up to expectations I think it's safe to say that BTC will be hard pressed to function as a currency for day to day commerce. I am curious to see how much impact on transaction fees it will have, as the majority of transactions they will likely facilitate are dust (micro), which are usually sent with zero transaction fees anyways. What incentive is there for lightning network upkeep? That's why right now these transactions are getting backed up in the mempool and can take forever to send, because there is no monetary incentive for miners, and the miners always process the most profitable transactions first.

Asking questions that you don't want answered; how can I resist?

I believe that it is incredibly hard to predict all of the brilliant ways people will find to misuse and abuse new technologies. But even so, the most effective way to design something with long-term usability is to predict as best as possible the total future use, and work back from there to design it. I've done a lot of database projects and learnt how important it is to get the foundations scoped out to the greatest possible extent, even if your initial project will barely touch its potential.

So in the case of a cryptocurrency designed for everyday use by all people for all transactions we need to ask, not only how many daily transactions are made by the averaged world citizen, we also need to ask how many more transactions could be made if it was faster, easier, cheaper, automated, borderless, more secure, and enabled fractions of a cent. Then while considering moments of daily peak usage, establish the number of transactions per second that would be required by multiplying that averaged world citizen by a future population estimate. That will give you a benchmark for the required capacity. Then you've got the basis to calculate transaction speeds, and blockchain growth rates. None of this is hard to do for a rough estimate. And while the numbers might look mind-boggling, they are nothing compared to the sort of calculations required when rendering a CGI movie or other processor intensive tasks.

But it soon becomes very clear that all current cryptocurrency designs are woefully inadequate to our future requirements. I've been developing some ideas that turn a lot of the current systems inside out, or other metaphors that horrifically distort our sense of space. And as with all untested ideas, I'm very confident that there are good solutions available. And I believe that these solutions could be applied to bitcoin. This is because bitcoin is nothing more than a blockchain that is written to by a network of programs that enable updates through group consensus. But because the solutions that I imagine are so radical, I'm happy to predict that the final winner is much more likely to be done as a hard fork.

But in general terms, yes. It is possible to create a system where the only conceivable way of overloading the capacity is for a population too big to be sustained by earth to make more transactions per second than could possibly provide any form of meaningful benefit. It would never need to be updated or upgraded to remain functional. This is because of some curious properties of network effects where only a minimal number of nodes with high-uniqueness connections are required for a network to have very short paths between any two given nodes and as the network grows, this property gets more effective, not less.

But what I'm talking about above is an end-game scenario. This is not required as the next great leap forward in cryptocurrencies. I'm of the opinion that shifting to POS like DNotes2.0 will deliver enough benefits to enable transaction fees to be reduced and block generation times to remain short for a much wider adoption and more frequent use of cryptocurrency. Instead of nodes doing thousands of redundant calculations to support the network and verify the blockchain, POS functions with a tiny fraction of that processor capacity. This enables much more work to be done efficiently and this solves many of the current problems. Then during this period of greater usage and adoption, the final solution can be designed and tested.

Thanks for the expert insight Tim. I have only the most basic mobile/pc programming knowledge, and a mediocre understanding of database management, so it's good to hear the opinion of someone who knows their shit! But you won't hear me complaining when someone wants to talk theoretical applications for technology, as well as the potential implications (whether positive or negative) it can bring.

The point you made about network effects makes a lot of sense, and can be a strong case against full network decentralization. Although decentralization is an effective tool in protecting assets by minimizing central targets, it can be highly inefficient when compared with more centralized systems. What you described sounds kind of like Dash's masternode network, which seems to be working well, but my flattery for Dash ends there as an individual currently has to fork over $1.1 million USD in collateral to run a masternode.
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December 18, 2017, 09:36:06 PM
 #2178

Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Dec 8th 2016 average transaction fee - $0.26 USD
Dec 8th 2017 average transaction fee - $27.20 USD

Any thoughts on the implications this will have on the industry?

Innovation in the altspace, imo. When people saw that altavista sucked, that creates room for Google and Yahoo and Bing.

But in this space, I think Altavista itself improves by virtue of the others, as opposed to being killed by them.

Someone was looking for comments on this on Facebook https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be

Which I agree, bitcoin is certainly not today what it was envisioned to be, but it opened the gates for the us to make it happen. Whether or not bitcoin will continue to grow in it's current iteration, continues as the gateway to the digital space, a fork off over takes it, or it carves itself out as it's own ultimate niche, who really knows, there are a lot of variables at play. What I can say for sure is that DNotes is taking it's own path to achieve many of these goals with clear direction and strategy.

That's exactly how I feel about it. Certainly, BTC today is different from it's initial vision. But that is natural for technology. In BTC world, it's called a fork. Or an altcoin creation. In the world of Tech proper, this seems very akin to pivoting.

I think it's a feature that BTC is what it is today, not a bug. It created the game. It brought the decentralized internet of value into being. It took the concept from 0 to 1. Going from 1 to n is where we are now. And inherent in going from 1 to n, means n directions. Who knows where the space will be in three years? Absolutely no one.

But I'm not going to get pissed about fees, volatility, electricity, lack of anonymity, and all the rest. Proof of Stake, snarks, new protocols for lower fees, and everything in between.....It's growing pains. And I'd rather not miss the forest for the trees like many in that article seem to....

DNotes 2.0 - Bridging the Gap Between the Centralized and Decentralized World - https://bitcointalk.org/index.php?topic=1924858.0
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December 18, 2017, 09:44:47 PM
 #2179

There's an awful lot of talk in the media and among economic experts that Bitcoin is a bubble right now, with all traditional indicators leading them to that conclusion. However, I believe they are discounting just how widespread the demand is. In my opinion Bitcoin is not a bubble, it has barely reached its full potential. I think we won't start getting into serious bubble

Bitcoin is definitely in a bubble AND it hasn't reached it's full potential. The two aren't opposed to each other. Like Erik Voorhees tweeted the other day....

"Bitcoin can be *both* in a bubble and  underpriced, simultaneously. It depends on your timescale. Remember the poor fool who bought at $31 in mid 2011 at the top of that bubble..."

By traditional measure, like I said in my original post, you came to the conclusion that Bitcoin is a bubble. If we also look at it from the perspective of behavioral economics, and what percentage of the herd has common consensus on the future direction of Bitcoin, there are still many individuals with different biases. During the tulip bubble, few people thought the price would go down, as is the case with nearly every other bubble. Bitcoin has undeniably reached critical mass, but I wouldn't go so far as to label it a bubble until we see how the other 95% of people in the world who don't use Bitcoin react to it. This 95% is a highly generous estimate, using America as a baseline for the entire world.

I really like how you brought behavioural ecconomics and the fact that the current market is a fraction of the potential market into the discussion. Where a bubble exists with investors aware that price far exceeds value, it is typical for all investors to closely watch the market while hovering a finger over the 'sell' button. This way they have a slim chance of being the second-greatest fool.

Then, when the bubble-price drops, it plummets quickly and keeps going until consensus is reached that the investment is valued at its real worth. If you look at the price history of bitcoin, this is not what happens. The price drop is steep, but the 'current value' baseline is never too far below the peek it dropped from. For me, that is a clear indicator that it is not a bubble. Bubbles pop.

Bitcoin declining by over 60% in 2014 after a 5000% runup....isn't a bubble popping? Then what would you consider the housing crisis, which was belied by assets runup and decline far, far smaller in magnitude than that.

It seems by using BC's line here....that people in 2013 would have been wrong if they correctly called that as a bubble....because an even far smaller percentage of the herd had heard of the concept, much less believed in it.

Agree to disagree, but we are most certainly in a bubble, imo.

DNotes 2.0 - Bridging the Gap Between the Centralized and Decentralized World - https://bitcointalk.org/index.php?topic=1924858.0
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December 18, 2017, 09:48:13 PM
 #2180

Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.   


This is the most exciting DNotes related-post that I've seen on bitcointalk, over all the threads. Really looking forward to 2018.

DNotes 2.0 - Bridging the Gap Between the Centralized and Decentralized World - https://bitcointalk.org/index.php?topic=1924858.0
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