DNotes 2.0 - Staking, CRISP Interest, DNotes Pay

[DCEBrief]

How Payment Disintermediation Can Substantially Boost Consumer Spending

https://dcebrief.com/how-payment-disintermediation-can-substantially-boost-consumer-spending/

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[DNotes]

Very exciting to see all the progress begin to materialize. DNotes has been doing this the right way with organic, natural, sustainable growth. As a result we have a stable price point while all the hype coins pump or bleed excessively with every 2% BTC movement.

Appreciate it doctorlw1, we are certainly here for the long haul.

[DNotes]

How Payment Disintermediation Can Substantially Boost Consumer Spending

https://dcebrief.com/how-payment-disintermediation-can-substantially-boost-consumer-spending/

Well done Brandon. The majority of transactions in the future between two parties, and the DNotes Pay Proof of Concept so far demonstrate just one way in which that will be possible.

"Evolving Beyond Intermediaries

In the past few weeks DNotes has made major breakthroughs on the payment processing front. The first DNotes automated payment script has been soft launched and is ready for businesses to begin testing, which is a major stepping stone required for full deployment of the complete next gen payment network. This payment network, which is but a small fraction of the entire DNotes ecosystem, will continue to make transferring money from person to person much easier than with a traditional bank, wire transfer service, or payment processor. The fees are substantially lower as well - sometimes even zero. Under this next gen payment system, micropayments are entirely possible where they wouldn't have been with traditional intermediaries because of the perpetual expenses these intermediaries dump on businesses they are supposed to serve."

[DNotes]

CRISP payout for a total of 746,207.24910888 DNotes  at block 139,680 was successful today, about 5 hours ago.

[wiser]

CRISP payout for a total of 746,207.24910888 DNotes  at block 139,680 was successful today, about 5 hours ago.

Yup, my wallet's a bit heavier

[DNotes]

DNotes Global Inc Launches Reg. D 506 (C) Funding To Raise $5 Million From Accredited Investors In A Series Of Three Funding Rounds

https://dnotesglobal.com/2018/07/12/dnotes-global-inc-launches-reg-d-506-c-funding-to-raise-5-million-from-accredited-investors-in-a-series-of-three-funding-rounds/

[DNotes]

DNotes 2.0 Frequently Asked Questions:

Q: What is new with DNotes 2.0?

A: DNotes 2.0 is a major improvement on the original DNotes blockchain. The new blockchain will allow DNotes and its partner company DNotes Global to achieve its objective to connect DNotes to the modern world of finance and commerce. The new blockchain is faster, more secure, and consumes only a fraction of the electricity. It also allows custom invoices to be created and attached to transactions, and changes the economic incentives of the network to one that encourages savings with the switch to the Proof-Of-Stake algorithm, and paying 0.5% interest on balances that haven’t moved from a wallet address in a 30 day period (~6% per annum).

Specifications

POS
2% Annualized Staking Reward
Individual blocks reward will be Current Total Coins / 525,600 * 0.02
60 Second Block Target
0.005 Transaction Fee
Source: https://github.com/DNotesCoin/DNotes2.0
Download Wallet: http://dnotescoin.com/#Download
Directory DNotes2 (C:\Users\USERNAME\AppData\Roaming\DNotes2 on Windows)
CONF dnotes.conf (all lower case)

DNotes 2.0 Features
Switch to PoS
CRISP Reward - 0.5% interest every 30 days. Awarded by address. Calculated on a 30 day cycle.
Automated Invoicing (First Phase) - Integrated blockchain invoice number

There will be a soft deadline where DNotes mined after that block will not be redeemable for 2.0 coins:
4/16/2018
Block# 2180897
133,574,552 Will be the total swappable amount of DNotes we create
+20,000,000 Allocated to DNotes Global, Inc for Development & Growth Fund
153,574,552 Total DNotes 2.0 Created

The next update (TBD) will include:
Deferred Staking

Q: How do I swap my coins? (after April 16th)

A: The DNotes coin swap process will now be done through a private fork of the legacy DNotes blockchain. We have created this fork to ensure that legacy DNotes holders are still able to swap their legacy DNotes for DNotes 2.0 long after the deadline, in the event they missed the swap. This also ensures we will not be accepting newly purchased or mined DNotes, protecting our users and network.

In order to swap your coins, you will need the following DNotes v1.3 wallet, which you can download here:
http://dnotescoin.com/DNotes/dnotes-qt1-3.zip
You will need to copy your wallet.dat or wallet backup file to C:\Users\USERNAME\AppData\Roaming\DNotes1-3 directory, open the wallet application and allow it to update.
Next, you will need an address to send your legacy DNotes in to for the coin swap, you can generate a legacy address with the following instructions:
Create a DNotesVault.com account if you don’t already have one.
Login to your DNotesVault.com account, and click the HISTORIC tab at the top.
Click Create Address, and send your DNotes to the address you just created.

Coin swaps will be processed once a month until further notice.

Q: What is the cutoff date for mined DNotes that can be swapped to the new DNotes blockchain?

A: We have set April 16th 2018 as the soft deadline. No DNotes mined after this date will be eligible to be swapped to DNotes running on the new blockchain. We will continue swap DNotes after that date, however the process will not be as easy and will take more time. Any DNotes 1.x purchased on exchanges after the 16th will not be eligible for the swap.

Q: Will DNotes 2.0 be listed on new exchanges?

We are currently listed on:
https://mercatox.com/exchange/NOTE/BTC
https://stocks.exchange/trade/NOTE/BTC
https://dashboard.listex.io/trading/notebtc
https://www.nlexch.com/markets/notebtc
https://bitebtc.com/trade/note_btc

We are actively working with and in active communication:
https://www.coinexchange.io

Beta or Future Exchanges we are working with:
https://blockbid.io/

Q: Are the new DNotes 2.0 coins worth the same as the old coins?

A: Yes, they are worth exactly the same. However we can not predict what price movements will occur at exchanges once DNotes is relisted using the new coins.

Q: I have Mac or Specific Linux OS, will there be wallets for these?  

A: Yes!
We currently have Windows / Mac / Linux Mint / Ubuntu Desktop wallets at DNotesCoin.com. If you need something else, please let us know.

Q: Where is the block explorer?

A: https://chainz.cryptoid.info/note/


Staking

Q: What is Staking?

A: Staking your coins helps to support the DNotes network, and the network currently pays out roughly 5 DNotes every minute to one address on the network based on a probability that centers on how many coins the user is staking with as a percentage of the total number of coins being staked on the network. The DNotes network pays out ~2% of the total number of coins per annum. If 100% of DNotes were being used to stake on the network, then by probability each user could expect 2% growth in the number of coins they have. If only 50% of coins are used to stake, then those users could expect approximately 4% growth that year.

Q: Can I stake my coins on the DNotesVault?

A: You cannot currently stake your coins that are on the DNotesVault, you will need to withdraw your DNotes 2.0 to a local wallet and stake your coins from your local wallet. We will in a future release incorporate cold staking, which will allow you stake your coins while they are safely tucked away inside the DNotesVault. However, we do not have an ETA, it will be one of our highest priorities for next upgrades.

Q: How do I stake?

Disclaimer: It is recommended that you properly secure your computer and wallet, as well as make proper backups, before attempting to run your own staking wallet. Failure to properly secure your DNotes may result in loss or theft. If you are not familiar with the process, please start off small and familiarize yourself with the process.

You will need to download the DNotes QT wallet here: http://dnotescoin.com/#Download

Install the wallet (and we recommend creating a backup, after encrypting your wallet)
Go to settings, and then ‘encrypt wallet’. Enter your password twice (and do NOT forget it, or you will not be able to access the wallet and we can not help you).
Go to settings, and then ‘unlock wallet’, enter your password, and select “for staking only”. This will prevent any transfers from being made from your wallet without the password while you stake your coins.
Soon the arrow at the bottom will turn green. This means that your coins are now staking.
   
Video: https://youtu.be/bR66LWPRzAU

Q: How do I get the most out of my staking efforts?

A: There is no trick to staking efficiently. The factors involved are your coin weight versus the network coin weight and coin weight is the number of coins currently staking. The age does not matter, nor does how you divide or move your coins around.

Q: How much can I earn staking?

A: That depends on how many coins you are staking and how many coins are being staked on the network. The blockchain distributes Current Total Coins / 525,600 * 0.02 every block, or every 60 seconds. You may calculate how often you are chosen to receive the block reward by dividing your network weight verse your weight. If network weight is 100, and your weight is 5, then you would be chosen for block reward 5 blocks out of every 100.



CRISP

Q: Can I get CRISP reward AND stake at the same time?

A: Yes, the system is designed to allow you to receive CRISP on a wallet you are staking

Q: What is the CRISP reward structure?

A: CRISP periods are every 43,200 blocks (30 days). Payments start 10,080 blocks (1 week) from the end of the CRISP period.

Q: What do I need to do to earn CRISP?

A: Keep your coins in the same address for the full CRISP period 30 days, set every 43,200 blocks.

Q: When will I receive CRISP payments?

A: The next payouts are as follows:

May 1 - Ends first CRISP period.
May 8 - Payout starts. (Virtually no one will receive this payout)
June 2 - Ends second CRISP period
June 10 - Payout starts

Roughly.

Q: Do I get CRISP payments at the DNotesVault?

A: Yes! You get CRISP inside the DNotesVault, or at any address you control, such as a Desktop wallet. Though I won't suspect you will be able to get CRISP rewards from the exchanges or other online providers.

Q: Where do the CRISP coins come from?

A: The blockchain, these are newly created coins and have now become part of the new coin distribution, just like the staking reward.

Q: How do I earn the interest reward?

A: Our Cryptocurrency Investment Savings Plan (CRISP) payouts occur approximately once per month. All coins that haven’t moved address during that month period will accrue a 0.5% interest, which compounds to roughly 6.17% per annum. If you move your coins during that time, those coins will not receive the interest for that month.

Wondering what DNotes is all about? Here’s the basics:

What is DNotes?
•   DNotes is a digital currency with a purpose: to serve as a real currency that people can use in their daily lives - unlike other digital currencies that focus on solving niche problems, with no plan to become a real, usable currency.
•   The DNotes goal is simple: achieve mass adoption and become the world’s first accessible, inclusive, and financially empowering digital currency that benefits everyone around the globe.

What are DNotes’ Benefits as a Currency?
•   DNotes is managed as a business – but not controlled as one.
•   DNotes success is driven by a profit-generating company, DNotes Global, created to promote mass adoption, protect the currency, and ensure sustainable growth.
•   DNotes’ unique CRISP savings program rewards DNotes owners with 0.5% interest, every month
•   DNotes offers staking rewards for stakeholders – at 2% a year.
•   DNotes provides blockchain invoicing features to simplify merchant acceptance and adoption of the digital currency.

What Benefits Does DNotes Global Provide?
DNotes Global protects DNotes and its stakeholders, promotes mass adoption, and creates value and utility for the digital currency, including a fully integrated ecosystem.
The company provides a unique cross-ownership model, with DNotes owning 25% of DNotes Global (pre-dilution), while the for-profit business maintains a stake in the digital currency.
DNotes Global generates profit, creating intrinsic value for the DNotes currency to help create a “floor” for the digital currency’s value.
DNotes Global has plans to build a long-term competitive advantage by offering services that utilize DNotes. That strategy will also help to facilitate awareness and adoption of the DNotes currency.
Long term competitive advantage DNotes Global will provide in offering services that utilize DNotes.

What’s Next?
Fully compliant Reg D 506 (c) crowdfunding followed by a Reg A+ Mini-IPO.
DNotes Payment Solution Integration into Existing eCommerce Platforms
Cold Staking Implementation & More

Where can I learn more?  
Pitch Deck - https://dnotesglobal.com/PitchDeck.pptx
Pitch Deck Video - https://www.youtube.com/watch?v=XculeWKdbbE
White Paper - https://dnotesglobal.com/white-paper/
Website - http://dnotescoin.com/
Blog - http://dnotescoin.com/blog-main-hub/

[TeeGee]

That's all very exciting -- everybody seems to look very forward to CRISP payouts monthly. It's also really great that it's an additional saving bonus that operates very much like the savings in your bank account. You don't have to do anything to earn it, you just rack up interest over time -- and even better there is no bank that is lending our your funds while in their possession! With DNotes CRISP payouts you are in control of your own funds at all times. All in all it makes for a much more secure way to receive interest than risking your bank doing all kinds of unsavoury / economy-threatening gambles with your money!

[wiser]

That's all very exciting -- everybody seems to look very forward to CRISP payouts monthly. It's also really great that it's an additional saving bonus that operates very much like the savings in your bank account. You don't have to do anything to earn it, you just rack up interest over time -- and even better there is no bank that is lending our your funds while in their possession! With DNotes CRISP payouts you are in control of your own funds at all times. All in all it makes for a much more secure way to receive interest than risking your bank doing all kinds of unsavoury / economy-threatening gambles with your money!

Lending to lenders at interest can be a sound economic decision, but I would rather have the choice to either do that with my money or not. With a bank, just by having a checking or savings account I'm basically agreeing to the bank having full use of my funds for their own gain. That's the real cost of "free" checking accounts, I guess.

This brings up a question in my mind: I know DNotes Global intends to get full banking/financial licensing--basically be a bank among other things. So, how will regular fiat money held on deposit in checking accounts (or equivalent) be treated? Will the DNotes Global bank be engaging in fractional reserve banking with fiat funds? Will it need to in order to compete? I have no judgment at this point about what would be best and I'm genuinely curious.

And I do like having DNotes that earn "interest" without needing to be available for other people's use. The way stakeholders help the DNotes economy at this point is to sit on their coins (not sell them) and for that we are rewarded through the CRISP program, and if we're handy with a wallet we can also earn more immediate rewards through staking. In the fiat world, in contrast, the way you "help" the economy with your money (at least in a way that gets *somewhat* rewarded) is by putting your funds at the disposal of your bank.

[BTCWise]

Another month, another successful distribution of NOTE coins. PoS was a great switch for the DNotes project. Thanks to PoS I don't have to own expensive equipment in order to contribute some value to the project. All I have to do is keep my coins in my wallet and viola I provided some support to the network. I absolutely love it! Can't wait to be able to stake my coins directly from DNotesVault. Really looking forward to this extra little feature.

[R-J-F]

Question: My Mercatox wallet now says 'Not Available" Are others seeing this? It used to say "Maintenance" Just curious...

[DNotes]

Question: My Mercatox wallet now says 'Not Available" Are others seeing this? It used to say "Maintenance" Just curious...

It did show maintenance, blocking both deposits and withdrawals, now it shows not available on the withdrawal side.

[R-J-F]

Question: My Mercatox wallet now says 'Not Available" Are others seeing this? It used to say "Maintenance" Just curious...

It did show maintenance, blocking both deposits and withdrawals, now it shows not available on the withdrawal side.

Ok, so not just me. That's all I was really worried about although it would be nice if they fixed it!  

[DNotes]

That's all very exciting -- everybody seems to look very forward to CRISP payouts monthly. It's also really great that it's an additional saving bonus that operates very much like the savings in your bank account. You don't have to do anything to earn it, you just rack up interest over time -- and even better there is no bank that is lending our your funds while in their possession! With DNotes CRISP payouts you are in control of your own funds at all times. All in all it makes for a much more secure way to receive interest than risking your bank doing all kinds of unsavoury / economy-threatening gambles with your money!

Lending to lenders at interest can be a sound economic decision, but I would rather have the choice to either do that with my money or not. With a bank, just by having a checking or savings account I'm basically agreeing to the bank having full use of my funds for their own gain. That's the real cost of "free" checking accounts, I guess.

This brings up a question in my mind: I know DNotes Global intends to get full banking/financial licensing--basically be a bank among other things. So, how will regular fiat money held on deposit in checking accounts (or equivalent) be treated? Will the DNotes Global bank be engaging in fractional reserve banking with fiat funds? Will it need to in order to compete? I have no judgment at this point about what would be best and I'm genuinely curious.

And I do like having DNotes that earn "interest" without needing to be available for other people's use. The way stakeholders help the DNotes economy at this point is to sit on their coins (not sell them) and for that we are rewarded through the CRISP program, and if we're handy with a wallet we can also earn more immediate rewards through staking. In the fiat world, in contrast, the way you "help" the economy with your money (at least in a way that gets *somewhat* rewarded) is by putting your funds at the disposal of your bank.

As much as we don't like hearing how our deposited fiat money may be handled, it's easy to imagine we may like the alternatives significantly less. There is a significant cost to having a bank at every corner, and not only digital currency but all of fintech is challenging the banking and financial systems as they are today, because they are terribly inefficient and not so inclusive. I would call these ways inherited from a time when we weren't so connected and able to do business online. I may even be able to make an argument that at one point in time this system may have been invaluable to consumer.

Our goal is to make digital currency inclusive for the benefit of everyone. We recognize that working within the existing financial systems are a must, such as having banking and financial licensing and connections. There is an end goal with an immense amount of variables in between and scenarios that would significantly alter the answers to those questions. The important thing is that we stick to our guiding principles as we move forward always looking to improve and create better systems, never resting on what we have already built.

In order to keep meeting the needs of the consumers on all levels and compete in the greater marketplace, we have to treat this like a business and as a business it needs to be sustainable and profitable. The ingenious thing about the DNotes and DNotes Global model is that continually driving DNotes by making it more appealing to the users and creating more utility and transactional value is in fact driving DNotes Global profitability and sustainability.  

[DNotes]

Another month, another successful distribution of NOTE coins. PoS was a great switch for the DNotes project. Thanks to PoS I don't have to own expensive equipment in order to contribute some value to the project. All I have to do is keep my coins in my wallet and viola I provided some support to the network. I absolutely love it! Can't wait to be able to stake my coins directly from DNotesVault. Really looking forward to this extra little feature.

Appreciate the comments BTCWise! PoS and CRISP are significantly more inclusive than PoW, and the cold staking option will only make more safe and easier.

[TeeGee]

That's all very exciting -- everybody seems to look very forward to CRISP payouts monthly. It's also really great that it's an additional saving bonus that operates very much like the savings in your bank account. You don't have to do anything to earn it, you just rack up interest over time -- and even better there is no bank that is lending our your funds while in their possession! With DNotes CRISP payouts you are in control of your own funds at all times. All in all it makes for a much more secure way to receive interest than risking your bank doing all kinds of unsavoury / economy-threatening gambles with your money!

Lending to lenders at interest can be a sound economic decision, but I would rather have the choice to either do that with my money or not. With a bank, just by having a checking or savings account I'm basically agreeing to the bank having full use of my funds for their own gain. That's the real cost of "free" checking accounts, I guess.

This brings up a question in my mind: I know DNotes Global intends to get full banking/financial licensing--basically be a bank among other things. So, how will regular fiat money held on deposit in checking accounts (or equivalent) be treated? Will the DNotes Global bank be engaging in fractional reserve banking with fiat funds? Will it need to in order to compete? I have no judgment at this point about what would be best and I'm genuinely curious.

And I do like having DNotes that earn "interest" without needing to be available for other people's use. The way stakeholders help the DNotes economy at this point is to sit on their coins (not sell them) and for that we are rewarded through the CRISP program, and if we're handy with a wallet we can also earn more immediate rewards through staking. In the fiat world, in contrast, the way you "help" the economy with your money (at least in a way that gets *somewhat* rewarded) is by putting your funds at the disposal of your bank.

I think one of the interesting first distinctions to make is that banks lending out money owned by other people for gain has economic benefit, is quite different to what was happening pre-GFC where low interest rates basically made it impossible for banks to make money this way, so they shifted their investments into risky derivative trades -- yes banks were playing a game of roulette with the government insuring against all losses, but yes, the government was also the root cause of the entire mess by incentivising the entire thing.

As to your question regarding fractional reserve lending, putting my personal views on fractional lending aside (these are well known to anybody who has read my dcebrief material), that decision has yet to be made. Another distinction would best be made between fractional reserve lending, and the use of funds created by fractional reserve lending to play roulette with the government acting to insure against all losses.

Another important point to consider is that most lending today is now made by non-banks -- DNotes Global would not need to engage in fractional reserve lending to compete if lending becomes an industry it chooses to compete aggressively in. DNotes Global Inc has yet to determine whether it will focus primarily just on chequing and savings accounts for the sake of a cryptocurrency onramp/offramp facilities (while likely offering small business and personal loans), or whether the company will seek to aggressively compete in home loans and big business loans etc. The latter could be difficult without significant outside investment and/or the ability for fractional reserve banking. It is also a point that banks now have liquidity requirements placed on them that non-banks aren't subject to, and the next crisis is likely to start with these non-bank entities and shadow banking liquidity squeeze. At this time I don't see a DNotes Global operated bank offering loans to customers in the medium term to the types of 'high risk' customers that would see the company in any kind of default crisis were widespread economic trouble become a thing like many of the larger banks were in 07/8.

At the end of the day, DNotes Global Inc will do whatever is necessary for the betterment of the entire DNotes ecosystem. Our future plans include crypto loans, and proving that DNotes can be a preferred option to fiat money, with economic stability and no ability for any group to fractionally create limitless new tokens one of those competitive strengths. If DNotes Global Inc had a fractional reserve lending bank, it wouldn't have any effect on the competitive advantage of the DNotes ecosystem, nor the core values of DNotes itself as a group. DNotes Global would be promoting its substitute payment network with all of its advantages (one of which is equitable money creation processes / no fractional reserve lending), which wouldn't be affected by having a fiat loan issuing bank, and neither would the fiat world notice the difference if DNotes Global opted not to go that route. The company would merely be participating in a well-established industry for the betterment of its competing substitute currency.

[Amadeus82]

I really like the DNotes plans for the future, I think that there is a fantastic and exciting journey ahead of us 

I sincerely wish the team all the best with the funding. I hope that investors will be able to recognize the true potential behind DNotes....but not only of the coin itself, but also the potential of the team and the trust they were able to build! 

[DCEBrief]

Greek Court Grants France’s Extradition Request for Alexander Vinnik; Appeal Expected

https://dcebrief.com/greek-court-grants-frances-extradition-request-for-alexander-vinnik-appeal-expected/

[DNotes]

We have had a few questions on the CRISP payout, to clarify a little further on how it works:

CRISP runs on 30 day cycles (specifically every 43,200 blocks). If you had coins at a DNotes address when the cycle started and kept those coins at the same address for the entire 30 days, you will receive a CRISP payment for 0.5% interest 1 weeks later (specifically 10,080 blocks).

Note: It won't be exactly 30 days or exactly 1 week after for payout, it is actually a specific number of blocks, and those blocks have a target time of 60 seconds. After seeing it in a live environment, we can likely tweak the settings a little to make it more consistent time wise at the next fork.

If you deposit coins in the middle of a CRISP cycle, you won't receive a CRISP reward for the deposited DNotes until the following cycle.

If you move coins to a different address in the middle of a CRISP cycle, you won't receive a CRISP reward for the coins you moved. (Even if it's another address in the same wallet)

For reference, wiser's spreadsheet showing the cutoff and payout dates:
https://docs.google.com/spreadsheets/d/1-2YSW6TYGaonbuFbIN7N61J9muuaPBV0Xuevz-1URqU/


To get really specific for those that would like to calculate it for yourself:

At the time of CRISP payout, it takes the delta from the block number, for each address, at the beginning of this CRISP period. Then removes any withdrawals for DNotes that were withdrawn to a different address starting from the beginning block of this CRISP period to the ending block of this CRISP period. If it withdraws to the same address, it will ignore that withdrawal. It will also ignore all deposits during this CRISP period.


Why did we chose this algorithm for CRISP

We looked at several different designs and ways to calculate CRISP, and chose this one because of its ability to prevent people from gaming the CRISP system. Ultimately protecting DNotes users from CRISP manipulation and potential market repercussions of CRISP manipulation. The only downside to this approach is if you are doing a lot of deposits and withdrawals, and you don't specifically chose your inputs for withdrawals, you are leaving it up to chance as to whether you will receive CRISP for the DNotes involved in the transactions.


Also note, that even though staking technically creates new transactions, they are all done to and from the same address. So they will not affect CRISP.

[DNotesEDU]

The Changing Landscape of Cryptocurrency Education
https://dnotesedu.com/2018/07/the-changing-landscape-of-cryptocurrency-education/