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[RJF]

Bad news for Apple Pay:


"APPLE PAY FRAUD RATES INCREASE 6000% OVER NORMAL DEBIT SWIPES"

"As the technology wars heat up in the merchant payment industry, the establishment’s foray known as Apple Pay has run into some major identity theft and fraud issues. NFS (Near Field Communications) may be clever. Biometric fingerprint scans into iPhones can make a user feel safe and secure, or just forward the user’s information to unknown third parties. At the core of the problem is the weakest link in the Apple Pay chain. The debit card itself.

Fraud and Identity Theft quickly join Apple Pay

Apple gets a nice .15% fee for every Apple Pay based on Apple’s salesmanship on the idea that their new system is more secure than the average credit or debit card swipe. According to Cherian Abraham, who is an advisor to SimplyTapp, which provides the host-card-emulation technology used to allow contact-less payments on devices using Google’s Android operating system, this problem came to light last month. He exposed it in his original blog post, and the problem appears early on in the Apple Pay process.

When a new credit or debit card is entered into the Apple Pay system, Apple sends the user’s information, such as last four digits of the social security number and location. If the information doesn’t match up, the bank will require a call from the consumer to confirm. The bank usually asks for the user to verify the last four digits of their social security number. Banks are reticent to ask too many questions, which would make the process arduous and more inconvenient, dissuading users from using Apple Pay.

According to Abraham, organized crime rings hand out pre-provisioned devices to mules, who then commit fraud with them. Hotbeds for this type of activity occurring include the areas around Miami, FL, and Dallas, TX. Untraceable prepaid cards are the preferred tool of choice, with their quick ability to exchange for goods or cash. Many times, the fraud ring hits Apple stores areas themselves. Isn’t that ironic? This scourge has shown fraud rates rise from 0.1% of overall debit/credit swipe transactions to up to 6% in recent Apple Pay transactions, dependent on bank and area.

Unable to refute the rampant fraud claims, all an Apple Pay spokeswoman could say in response was

“Apple Pay is designed to be extremely secure and protect a user’s personal information. Banks are always reviewing and improving their approval process, which varies by bank.”

Are fraud and identity theft exclusively an Apple Pay problem? Of course not. The new system just has some weaknesses that the criminal underworld has quickly borne out. Debit/credit card based programs are rife with fraud, as shown by the recent cases of mass consumer compromise at major retailers like Target and Home Depot. Tens of millions have had their personal accounts compromised throughout the U.S. using these now antiquated monetary transfer systems. Criminals with 21st century computer technology easily prey upon debit/credit card users.

These kinds of issues are some of the many upgrades Bitcoin provides over the 1950’s technology of the debit card. Transactional fraud and identity theft are virtually non-existent in the Bitcoin ecosystem. Apple Pay didn’t say they could beat that juggernaut in the debit card system, but they did say it would cut it from it’s current rates, and that hasn’t happened.

The establishment is fighting a tech battle against Bitcoin using technology that’s only sixty years old. It seems to be going about as well as can be expected."

https://www.cryptocoinsnews.com/apple-pay-fraud-rates-increase-6000-normal-debit-swipes/

This is extremely important Breaking News.  Perhaps the Headline should be revised to Read: “Bad news for Apple Pay (and Credit Card Companies)”.

It may take years for enough people to understand, but there are radical differences in the production, accounting, storage, and transfer of digital currency as oppose to fiat currency. Essentially there are two very different systems with different philosophies in the creation, storage, book keeping, exchange of assets, and transfer of wealth. Many major business decisions and investments have been made without a sufficient understanding of the total package. Too many articles have been written and published with the wrong conclusions due to a lack of sufficient understanding of both systems. I can write a book on this, or include a chapter in a book if I only have enough hours left at the end the day.  

Let me briefly cover three vital differences between the two systems that are in play here. There are more, in fact many more, to the extent that I have no doubt that digital currency is far superior to fiat currency when we compare and contrast them in a complete and object manner. I am conclusive that digital currency is the future of money, in this digital age. Of course, there are problems, issues or weaknesses, including volatilities, liquidity, store of value and mass acceptance as a medium of exchange. DNotes will continue to resolve all those problems over time and at a minimum, DNotes will reach a level that is equal to or better than any other fiat currency within the next few years.

Fiat currency and its associated credit and debit card payment network systems are based on an absolute dependency on personal identity with multiple exposures that can be and have been compromised. With multiple intermediaries requiring proof of identity for the release of funds, loans and credit approval based of the “holder” of the required private information, this has been proven repeatedly to involve high risk exposures. In practical terms, your personal records are not so private because they are required to be exposed during the transaction, approval and data storage processes.

This has been and will continue to be a huge problem. There is no viable solution on top of a highly inefficient and costly banking and payment network system. Another major difference is that, whether you are going consider it as good or bad, they do keep their ledger and book keeping private. Furthermore, you don’t always need to have the funds already in your account to write a check and pay someone. The holder of your private information is the one granted the ability to add funds to your account (new loan and credit card) or pull funds from your account.

In brief, our current banking, credit and debit card payment network systems must have your private information to conduct business. However, they do keep your transactions private. You can also get away in writing a check to pay someone without money in your account.

By comparison, digital currency does not require or store any private information. It can only be pushed out, or spent by the holder of the private key to the digital wallet. If don’t have the key to get inside the wallet, you can not “push” the funds out. In addition, you can not send more funds than what is available in the wallet. In this case, it is like the cash in your fiat currency wallet. You can not spend more in cash than you have. Furthermore, all of your transactions and balances are verified and confirmed, by a massive peer to peer computing network, based majority consensus to be legitimate and correct. Only then it is recorded and displayed in a public ledger for everyone to see and verify. Once confirmed, the transaction is not reversible.

This is a far superior system. Those who are yet to be convinced are either uninformed, misinformed, totally misled, or given up on the possibility that digital currency can be stable and a good store of value.

Bitcoin alternative DNotes has demonstrated that stability and good store of value are achievable as demonstrated throughout its existent since February 18, 2014. It is now taking the next major challenge to demonstrate that digital currency is a superior medium of exchange. Equipped with CryptoMoms, DNotesVault, and a whole family of savings plans for the consumers and small business owners, mass acceptance of DNotes as a store of value and a medium of exchange may be only a couple of years down the road. As obstacles of volatilities and store of value are put to rest, the doubt on the superiority of digital currency over fiat currency will become more compelling. Supportive mainstream media and regulators will go a long way in extracting the best of an immensely innovative technology with positive world changing implications.

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

Dear DNotes supporters,

Please make an extra efforts to comment on this post. I am considering using the framework of this article for an industry press release. Thanks.

     I regret that this cannot be used for your article, but to me, Apple Pay is like "putting lipstick on a pig". The current payment system is out of date, and will someday be obsolete. That someday, however, may be many decades away. All Apple is doing is building another "layer" on top of a flawed system.

Smokey

Absolutely to the point. Its like repainting a '69 Plymouth Valiant in bright red racing paint, it's still a '69 Plymouth. One of the biggest differences, security wise, between cryptos and credit card and other traditional processing is the human factor. It's relatively easy to get access to CC numbers, magnetic strips and even NFC technology as there is a physical layer you can compromise. CC numbers can be copied either from the card itself or, intercepted during the transaction as can NFC. NFC readers have already been build that only require close proximity to a phone or card with a chip to fake a transaction.  

The beauty of crypto is that it bypasses all that. Crypto doesn't have the same phisical layer, it exists in cyberspace only. Because of encryption and the way value is transferred, you can mess with the blockchain all you want but you will never produce any kind of incorrect payout. Crypto has been compromised only through human error or bad actors at exchanges and perhaps the occasional virus/malware infection, all easily preventable. Coupled with sophomoric security practices at some endpoints, this equals a rather small threat.

As the industry grows and matures, these types of intrusions should become less and less of a problem. Most of the serious thinkers in crypto know that this is a phase that will diminish over time. As exchanges and storage entities improve their code and security practices, read "mature", the usual "1000 Bitcoin Stolen from xxxx..." headlines will start to disappear and news outlets will be forced to focus on the good things.

Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again.

 

[Dyna]

"Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again."

I like that, RJF. Thanks.

May be that is why "Grandpa" is spending so much time watching over you kids. LOL. I just don't like to see you guys get hurt. That is another reason to go slow and easy before we pick up speed and run.

In all fairness the reported Mt Gox, Mintpal and other problems of stolen Bitcoin are the results of bad business practices or outright insider theft.

[mafort1469]

"Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again."

I like that, RJF. Thanks.

May be that is why "Grandpa" is spending so much time watching over you kids. LOL. I just don't like to see you guys get hurt. That is another reason to go slow and easy before we pick up speed and run.

In all fairness the reported Mt Gox, Mintpal and other problems of stolen Bitcoin are the results of bad business practices or outright insider theft.

This sounds a bit like CryptoDarwinism. Hmmm a new word? I firmly believe DNotes will outpace and evolve to be the leader of this new world.

[RJF]

"Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again."

I like that, RJF. Thanks.

May be that is why "Grandpa" is spending so much time watching over you kids. LOL. I just don't like to see you guys get hurt. That is another reason to go slow and easy before we pick up speed and run.

In all fairness the reported Mt Gox, Mintpal and other problems of stolen Bitcoin are the results of bad business practices or outright insider theft.

This sounds a bit like CryptoDarwinism. Hmmm a new word? I firmly believe DNotes will outpace and evolve to be the leader of this new world.

Darwin is my hero... 

[Dyna]

"Crypto is a small child learning how to walk. As it goes with this analogy, you walk, you run, you get hurt along the way but you learn and you don't make the same mistake again."

I like that, RJF. Thanks.

May be that is why "Grandpa" is spending so much time watching over you kids. LOL. I just don't like to see you guys get hurt. That is another reason to go slow and easy before we pick up speed and run.

In all fairness the reported Mt Gox, Mintpal and other problems of stolen Bitcoin are the results of bad business practices or outright insider theft.

This sounds a bit like CryptoDarwinism. Hmmm a new word? I firmly believe DNotes will outpace and evolve to be the leader of this new world.

Darwin is my hero... 

"Survival of the fittest"

We may not be the fittest yet, but we can compensate for any weakness by being a little wiser, better informed, more patience but agile and decisive in adapting to an unsettled environment.

Don't forget that Darwin also said this.

“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
― Charles Darwin

[Chase]

Bad news for Apple Pay:


"APPLE PAY FRAUD RATES INCREASE 6000% OVER NORMAL DEBIT SWIPES"

"As the technology wars heat up in the merchant payment industry, the establishment’s foray known as Apple Pay has run into some major identity theft and fraud issues. NFS (Near Field Communications) may be clever. Biometric fingerprint scans into iPhones can make a user feel safe and secure, or just forward the user’s information to unknown third parties. At the core of the problem is the weakest link in the Apple Pay chain. The debit card itself.

Fraud and Identity Theft quickly join Apple Pay

Apple gets a nice .15% fee for every Apple Pay based on Apple’s salesmanship on the idea that their new system is more secure than the average credit or debit card swipe. According to Cherian Abraham, who is an advisor to SimplyTapp, which provides the host-card-emulation technology used to allow contact-less payments on devices using Google’s Android operating system, this problem came to light last month. He exposed it in his original blog post, and the problem appears early on in the Apple Pay process.

When a new credit or debit card is entered into the Apple Pay system, Apple sends the user’s information, such as last four digits of the social security number and location. If the information doesn’t match up, the bank will require a call from the consumer to confirm. The bank usually asks for the user to verify the last four digits of their social security number. Banks are reticent to ask too many questions, which would make the process arduous and more inconvenient, dissuading users from using Apple Pay.

According to Abraham, organized crime rings hand out pre-provisioned devices to mules, who then commit fraud with them. Hotbeds for this type of activity occurring include the areas around Miami, FL, and Dallas, TX. Untraceable prepaid cards are the preferred tool of choice, with their quick ability to exchange for goods or cash. Many times, the fraud ring hits Apple stores areas themselves. Isn’t that ironic? This scourge has shown fraud rates rise from 0.1% of overall debit/credit swipe transactions to up to 6% in recent Apple Pay transactions, dependent on bank and area.

Unable to refute the rampant fraud claims, all an Apple Pay spokeswoman could say in response was

“Apple Pay is designed to be extremely secure and protect a user’s personal information. Banks are always reviewing and improving their approval process, which varies by bank.”

Are fraud and identity theft exclusively an Apple Pay problem? Of course not. The new system just has some weaknesses that the criminal underworld has quickly borne out. Debit/credit card based programs are rife with fraud, as shown by the recent cases of mass consumer compromise at major retailers like Target and Home Depot. Tens of millions have had their personal accounts compromised throughout the U.S. using these now antiquated monetary transfer systems. Criminals with 21st century computer technology easily prey upon debit/credit card users.

These kinds of issues are some of the many upgrades Bitcoin provides over the 1950’s technology of the debit card. Transactional fraud and identity theft are virtually non-existent in the Bitcoin ecosystem. Apple Pay didn’t say they could beat that juggernaut in the debit card system, but they did say it would cut it from it’s current rates, and that hasn’t happened.

The establishment is fighting a tech battle against Bitcoin using technology that’s only sixty years old. It seems to be going about as well as can be expected."

https://www.cryptocoinsnews.com/apple-pay-fraud-rates-increase-6000-normal-debit-swipes/

This is extremely important Breaking News.  Perhaps the Headline should be revised to Read: “Bad news for Apple Pay (and Credit Card Companies)”.

It may take years for enough people to understand, but there are radical differences in the production, accounting, storage, and transfer of digital currency as oppose to fiat currency. Essentially there are two very different systems with different philosophies in the creation, storage, book keeping, exchange of assets, and transfer of wealth. Many major business decisions and investments have been made without a sufficient understanding of the total package. Too many articles have been written and published with the wrong conclusions due to a lack of sufficient understanding of both systems. I can write a book on this, or include a chapter in a book if I only have enough hours left at the end the day.  

Let me briefly cover three vital differences between the two systems that are in play here. There are more, in fact many more, to the extent that I have no doubt that digital currency is far superior to fiat currency when we compare and contrast them in a complete and object manner. I am conclusive that digital currency is the future of money, in this digital age. Of course, there are problems, issues or weaknesses, including volatilities, liquidity, store of value and mass acceptance as a medium of exchange. DNotes will continue to resolve all those problems over time and at a minimum, DNotes will reach a level that is equal to or better than any other fiat currency within the next few years.

Fiat currency and its associated credit and debit card payment network systems are based on an absolute dependency on personal identity with multiple exposures that can be and have been compromised. With multiple intermediaries requiring proof of identity for the release of funds, loans and credit approval based of the “holder” of the required private information, this has been proven repeatedly to involve high risk exposures. In practical terms, your personal records are not so private because they are required to be exposed during the transaction, approval and data storage processes.

This has been and will continue to be a huge problem. There is no viable solution on top of a highly inefficient and costly banking and payment network system. Another major difference is that, whether you are going consider it as good or bad, they do keep their ledger and book keeping private. Furthermore, you don’t always need to have the funds already in your account to write a check and pay someone. The holder of your private information is the one granted the ability to add funds to your account (new loan and credit card) or pull funds from your account.

In brief, our current banking, credit and debit card payment network systems must have your private information to conduct business. However, they do keep your transactions private. You can also get away in writing a check to pay someone without money in your account.

By comparison, digital currency does not require or store any private information. It can only be pushed out, or spent by the holder of the private key to the digital wallet. If don’t have the key to get inside the wallet, you can not “push” the funds out. In addition, you can not send more funds than what is available in the wallet. In this case, it is like the cash in your fiat currency wallet. You can not spend more in cash than you have. Furthermore, all of your transactions and balances are verified and confirmed, by a massive peer to peer computing network, based majority consensus to be legitimate and correct. Only then it is recorded and displayed in a public ledger for everyone to see and verify. Once confirmed, the transaction is not reversible.

This is a far superior system. Those who are yet to be convinced are either uninformed, misinformed, totally misled, or given up on the possibility that digital currency can be stable and a good store of value.

Bitcoin alternative DNotes has demonstrated that stability and good store of value are achievable as demonstrated throughout its existent since February 18, 2014. It is now taking the next major challenge to demonstrate that digital currency is a superior medium of exchange. Equipped with CryptoMoms, DNotesVault, and a whole family of savings plans for the consumers and small business owners, mass acceptance of DNotes as a store of value and a medium of exchange may be only a couple of years down the road. As obstacles of volatilities and store of value are put to rest, the doubt on the superiority of digital currency over fiat currency will become more compelling. Supportive mainstream media and regulators will go a long way in extracting the best of an immensely innovative technology with positive world changing implications.

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

Dear DNotes supporters,

Please make an extra efforts to comment on this post. I am considering using the framework of this article for an industry press release. Thanks.

This would make great content for an industry press release.  People trusted the Apple brand without really understanding what they were getting.  Promising enhanced security and having the results 6000% worse than before you started isn't going to be easily forgotten.

[RJF]

Bad news for Apple Pay:


"APPLE PAY FRAUD RATES INCREASE 6000% OVER NORMAL DEBIT SWIPES"

"As the technology wars heat up in the merchant payment industry, the establishment’s foray known as Apple Pay has run into some major identity theft and fraud issues. NFS (Near Field Communications) may be clever. Biometric fingerprint scans into iPhones can make a user feel safe and secure, or just forward the user’s information to unknown third parties. At the core of the problem is the weakest link in the Apple Pay chain. The debit card itself.

Fraud and Identity Theft quickly join Apple Pay

Apple gets a nice .15% fee for every Apple Pay based on Apple’s salesmanship on the idea that their new system is more secure than the average credit or debit card swipe. According to Cherian Abraham, who is an advisor to SimplyTapp, which provides the host-card-emulation technology used to allow contact-less payments on devices using Google’s Android operating system, this problem came to light last month. He exposed it in his original blog post, and the problem appears early on in the Apple Pay process.

When a new credit or debit card is entered into the Apple Pay system, Apple sends the user’s information, such as last four digits of the social security number and location. If the information doesn’t match up, the bank will require a call from the consumer to confirm. The bank usually asks for the user to verify the last four digits of their social security number. Banks are reticent to ask too many questions, which would make the process arduous and more inconvenient, dissuading users from using Apple Pay.

According to Abraham, organized crime rings hand out pre-provisioned devices to mules, who then commit fraud with them. Hotbeds for this type of activity occurring include the areas around Miami, FL, and Dallas, TX. Untraceable prepaid cards are the preferred tool of choice, with their quick ability to exchange for goods or cash. Many times, the fraud ring hits Apple stores areas themselves. Isn’t that ironic? This scourge has shown fraud rates rise from 0.1% of overall debit/credit swipe transactions to up to 6% in recent Apple Pay transactions, dependent on bank and area.

Unable to refute the rampant fraud claims, all an Apple Pay spokeswoman could say in response was

“Apple Pay is designed to be extremely secure and protect a user’s personal information. Banks are always reviewing and improving their approval process, which varies by bank.”

Are fraud and identity theft exclusively an Apple Pay problem? Of course not. The new system just has some weaknesses that the criminal underworld has quickly borne out. Debit/credit card based programs are rife with fraud, as shown by the recent cases of mass consumer compromise at major retailers like Target and Home Depot. Tens of millions have had their personal accounts compromised throughout the U.S. using these now antiquated monetary transfer systems. Criminals with 21st century computer technology easily prey upon debit/credit card users.

These kinds of issues are some of the many upgrades Bitcoin provides over the 1950’s technology of the debit card. Transactional fraud and identity theft are virtually non-existent in the Bitcoin ecosystem. Apple Pay didn’t say they could beat that juggernaut in the debit card system, but they did say it would cut it from it’s current rates, and that hasn’t happened.

The establishment is fighting a tech battle against Bitcoin using technology that’s only sixty years old. It seems to be going about as well as can be expected."

https://www.cryptocoinsnews.com/apple-pay-fraud-rates-increase-6000-normal-debit-swipes/

This is extremely important Breaking News.  Perhaps the Headline should be revised to Read: “Bad news for Apple Pay (and Credit Card Companies)”.

It may take years for enough people to understand, but there are radical differences in the production, accounting, storage, and transfer of digital currency as oppose to fiat currency. Essentially there are two very different systems with different philosophies in the creation, storage, book keeping, exchange of assets, and transfer of wealth. Many major business decisions and investments have been made without a sufficient understanding of the total package. Too many articles have been written and published with the wrong conclusions due to a lack of sufficient understanding of both systems. I can write a book on this, or include a chapter in a book if I only have enough hours left at the end the day.  

Let me briefly cover three vital differences between the two systems that are in play here. There are more, in fact many more, to the extent that I have no doubt that digital currency is far superior to fiat currency when we compare and contrast them in a complete and object manner. I am conclusive that digital currency is the future of money, in this digital age. Of course, there are problems, issues or weaknesses, including volatilities, liquidity, store of value and mass acceptance as a medium of exchange. DNotes will continue to resolve all those problems over time and at a minimum, DNotes will reach a level that is equal to or better than any other fiat currency within the next few years.

Fiat currency and its associated credit and debit card payment network systems are based on an absolute dependency on personal identity with multiple exposures that can be and have been compromised. With multiple intermediaries requiring proof of identity for the release of funds, loans and credit approval based of the “holder” of the required private information, this has been proven repeatedly to involve high risk exposures. In practical terms, your personal records are not so private because they are required to be exposed during the transaction, approval and data storage processes.

This has been and will continue to be a huge problem. There is no viable solution on top of a highly inefficient and costly banking and payment network system. Another major difference is that, whether you are going consider it as good or bad, they do keep their ledger and book keeping private. Furthermore, you don’t always need to have the funds already in your account to write a check and pay someone. The holder of your private information is the one granted the ability to add funds to your account (new loan and credit card) or pull funds from your account.

In brief, our current banking, credit and debit card payment network systems must have your private information to conduct business. However, they do keep your transactions private. You can also get away in writing a check to pay someone without money in your account.

By comparison, digital currency does not require or store any private information. It can only be pushed out, or spent by the holder of the private key to the digital wallet. If don’t have the key to get inside the wallet, you can not “push” the funds out. In addition, you can not send more funds than what is available in the wallet. In this case, it is like the cash in your fiat currency wallet. You can not spend more in cash than you have. Furthermore, all of your transactions and balances are verified and confirmed, by a massive peer to peer computing network, based majority consensus to be legitimate and correct. Only then it is recorded and displayed in a public ledger for everyone to see and verify. Once confirmed, the transaction is not reversible.

This is a far superior system. Those who are yet to be convinced are either uninformed, misinformed, totally misled, or given up on the possibility that digital currency can be stable and a good store of value.

Bitcoin alternative DNotes has demonstrated that stability and good store of value are achievable as demonstrated throughout its existent since February 18, 2014. It is now taking the next major challenge to demonstrate that digital currency is a superior medium of exchange. Equipped with CryptoMoms, DNotesVault, and a whole family of savings plans for the consumers and small business owners, mass acceptance of DNotes as a store of value and a medium of exchange may be only a couple of years down the road. As obstacles of volatilities and store of value are put to rest, the doubt on the superiority of digital currency over fiat currency will become more compelling. Supportive mainstream media and regulators will go a long way in extracting the best of an immensely innovative technology with positive world changing implications.

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

Dear DNotes supporters,

Please make an extra efforts to comment on this post. I am considering using the framework of this article for an industry press release. Thanks.

This would make great content for an industry press release.  People trusted the Apple brand without really understanding what they were getting.  Promising enhanced security and having the results 6000% worse than before you started isn't going to be easily forgotten.

Apple ain't what it used to be...

[Dyna]

Quote from Chase:

This would make great content for an industry press release.  People trusted the Apple brand without really understanding what they were getting.  Promising enhanced security and having the results 6000% worse than before you started isn't going to be easily forgotten.

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

I just forwarded the post to our PR team for an opinion.

Thanks, Chase.

[RJF]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

[RJF]

For those of you who wish to keep up on events such as I just posted and stay informed on cyber security, I recommend "The Daily Threat Brief" offered by Cognito.

http://threatbrief.com/

No, I don't receive anything for this endorsement, I work in the industry and I just happen to think their intelligence is timely, well chosen and offers maximum coverage on a variety of issues affecting the industry as a whole. It's free if you don't mind the occasional ad and you can sign up to receive it as a newsletter via email.

[DNotes]

For those of you who wish to keep up on events such as I just posted and stay informed on cyber security, I recommend "The Daily Threat Brief" offered by Cognito.

http://threatbrief.com/

No, I don't receive anything for this endorsement, I work in the industry and I just happen to think their intelligence is timely, well chosen and offers maximum coverage on a variety of issues affecting the industry as a whole. It's free if you don't mind the occasional ad and you can sign up to receive it as a newsletter via email.

Thanks RJF, I have run into that site a couple times.

[Dyna]

For those of you who wish to keep up on events such as I just posted and stay informed on cyber security, I recommend "The Daily Threat Brief" offered by Cognito.

http://threatbrief.com/

No, I don't receive anything for this endorsement, I work in the industry and I just happen to think their intelligence is timely, well chosen and offers maximum coverage on a variety of issues affecting the industry as a whole. It's free if you don't mind the occasional ad and you can sign up to receive it as a newsletter via email.

Thanks, RJF. That is a good source, but could be depressing if I spend too much time on that site. There are too many issues and problems confronting the world we live in. My focus is to do the little I can helping DNotes to be the digital currency of the future which I strongly believe will solve many problems and provides some financial relief to many who believe in us with long term commitment.

[Chase]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

"Apple Pay is great," says Gartner distinguished analyst Avivah Litan. "It’s the bank processes for identity-proofing that are weak."

"In other words, Apple Pay fraud has nothing to do with Apple -- nor its encryption, nor its tokenization protocol -- and everything to do with the banks that provision payment cards/tokens."

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

If a contractor builds an award winning house on a 60 year old crumbling foundation, whose fault is it for the cracks in the walls?  

[Dyna]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

This goes way beyond being an Apple problem. It is an industry problem, with costly implications to all of us. Where is the outrage from our regulators?

Our current banking and payment network systems cannot conduct business without the collection, transmission, storage and verification of private information. Until this method of doing business is replaced the problem will continue.

The Bitcoin protocol and payment network is far superior. It has already solved the problem of the need for private information to effect transaction. For this very reason, we firmly believe that DNotes will be the digital currency of the future, because we are positioned to solve all the other structural problems, such as high volatility, store of value and mass acceptance of DNotes as a medium of exchange, currently associated with Bitcoin.  

[Dyna]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

"Apple Pay is great," says Gartner distinguished analyst Avivah Litan. "It’s the bank processes for identity-proofing that are weak."

"In other words, Apple Pay fraud has nothing to do with Apple -- nor its encryption, nor its tokenization protocol -- and everything to do with the banks that provision payment cards/tokens."

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

If a contractor builds an award winning house on a 60 year old crumbling foundation, whose fault is it for the cracks in the walls?  

Can I recluse myself from being the judge on this one? Lol. I do own an Iphone and an Ipad.

[RJF]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

This goes way beyond being an Apple problem. It is an industry problem, with costly implications to all of us. Where is the outrage from our regulators?

Our current banking and payment network systems cannot conduct business without the collection, transmission, storage and verification of private information. Until this method of doing business is replaced the problem will continue.

The Bitcoin protocol and payment network is far superior. It has already solved the problem of the need for private information to effect transaction. For this very reason, we firmly believe that DNotes will be the digital currency of the future, because we are positioned to solve all the other structural problems, such as high volatility, store of value and mass acceptance of DNotes as a medium of exchange, currently associated with Bitcoin.  

And, the problem behind the problem, our Gov't wants private information to be transmitted for tracking purposes. Check out the new "Bitcoin Card" outlined in the article below. Good idea or bad?

http://www.coindesk.com/masked-card-lets-online-shoppers-pay-anywhere-bitcoin/?utm_source=CoinDesk+subscribers&utm_campaign=5471041e9f-EMAIL_RSS_CAMPAIGN&utm_medium=email&utm_term=0_74abb9e6ab-5471041e9f-78905009

[RJF]

Another good article on the ApplePay fiasco.

"The one constant we have seen for every mobile financial service thus far has been the issue of [bank account] takeovers, whether that be mobile banking, mobile RDC, or mobile payments," http://www.darkreading.com/apple-pay-fraud-gives-us-a-new-reason-to-hate-data-breaches-and-ssns/d/d-id/1319339

"Apple Pay is great," says Gartner distinguished analyst Avivah Litan. "It’s the bank processes for identity-proofing that are weak."

"In other words, Apple Pay fraud has nothing to do with Apple -- nor its encryption, nor its tokenization protocol -- and everything to do with the banks that provision payment cards/tokens."

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

If a contractor builds an award winning house on a 60 year old crumbling foundation, whose fault is it for the cracks in the walls?  

Can I recluse myself from being the judge on this one? Lol. I do own an Iphone and an Ipad.

As do I. I truly like their tech but I don't like the workings behind the scenes. Problem with Apple and companies like them, they are tightly focused on taking over their markets to the exclusion of everything else. They are no longer innovative developers of new tech, now they are just predators feeding the bottom line above all else.
 

[infovortice2013]

wow Dnotes prices weak a bit go to 5500 sat, i think fat trader go out with his bitcoins maybe in few days btc price go down heavy.

I expose Dnotes retirement plans to Bitshares comunity, to make an Asset BitDnotes to enjoy 10 sec transactions to names and % bonus for assets holders and be traded on distributed exchange (this % yield come from fees from exchange trading, and from interest for Shorts and margin calls). i ask them yesterday. have a couple responses

*makes sense, having a retirement.plan and having your savings earn you yield

*How do Dnotes earn income for retirement savers?

cant answer, please tell me to advance.

metaexchange coder make this post I wanted to let you guys know that https://metaexchange.info is ready to help trusted community members with their crowdfunding efforts! We can offer to put your UIA(user asset) up as an asset on the metaexchange network, to greatly simplify the process of accepting BTC as payment.
What's more, because of the unique design of metaexchange, you don't need to hand over the ownership of your UIA to us (so we can issue it), instead we can simply give you a metaexchange node to run on your own server! What this means is:

* Zero counterparty risk for you
* Accept BTC payment for your asset with ease
* Keep full ownership of your UIA, so you can still offer it on the internal bitshares exchange as well
* Have the option of making a profit from asset trading (if you enable buying back the asset)

https://metaexchange.info/

beyondbitcoin delegate ask for hangout with dnotes devs to talk about 

[Dyna]

wow Dnotes prices weak a bit go to 5500 sat, i think fat trader go out with his bitcoins maybe in few days btc price go down heavy.

I expose Dnotes retirement plans to Bitshares comunity, to make an Asset BitDnotes to enjoy 10 sec transactions to names and % bonus for assets holders and be traded on distributed exchange (this % yield come from fees from exchange trading, and from interest for Shorts and margin calls). i ask them yesterday. have a couple responses

*makes sense, having a retirement.plan and having your savings earn you yield

*How do Dnotes earn income for retirement savers?

cant answer, please tell me to advance.

metaexchange coder make this post I wanted to let you guys know that https://metaexchange.info is ready to help trusted community members with their crowdfunding efforts! We can offer to put your UIA(user asset) up as an asset on the metaexchange network, to greatly simplify the process of accepting BTC as payment.
What's more, because of the unique design of metaexchange, you don't need to hand over the ownership of your UIA to us (so we can issue it), instead we can simply give you a metaexchange node to run on your own server! What this means is:

* Zero counterparty risk for you
* Accept BTC payment for your asset with ease
* Keep full ownership of your UIA, so you can still offer it on the internal bitshares exchange as well
* Have the option of making a profit from asset trading (if you enable buying back the asset)

https://metaexchange.info/

Profit taking will always happen. The downtrend adjustment was more than I expected due to a number of large blocks being unloaded. As DNotes becomes more popular both the volume and trading range will increase. Long term investors should focus their decision on the longterm trendline.

Regarding your other efforts to promote DNotes, we prefer to focus on our current projects at this time. Our current commitment is to successfully launch CRISP for Students during the week of March 30, 2015, followed by CRISP For Employee Incentive Benefits and CRISP for Charities. We will also gear up to promote CryptoMoms.

You may want to direct interested parties with questions to this forum. It is difficult to respond to questions without participating in the entire discussion.

"How do Dnotes earn income for retirement savers?" CRISP for Retirement savers earn interest during the initial period from a donation from provided by some major supporters.

We will not be interested to participate in crowdfunding at this time.

[Chase]

wow Dnotes prices weak a bit go to 5500 sat, i think fat trader go out with his bitcoins maybe in few days btc price go down heavy.

I expose Dnotes retirement plans to Bitshares comunity, to make an Asset BitDnotes to enjoy 10 sec transactions to names and % bonus for assets holders and be traded on distributed exchange (this % yield come from fees from exchange trading, and from interest for Shorts and margin calls). i ask them yesterday. have a couple responses

*makes sense, having a retirement.plan and having your savings earn you yield

*How do Dnotes earn income for retirement savers?

cant answer, please tell me to advance.

metaexchange coder make this post I wanted to let you guys know that https://metaexchange.info is ready to help trusted community members with their crowdfunding efforts! We can offer to put your UIA(user asset) up as an asset on the metaexchange network, to greatly simplify the process of accepting BTC as payment.
What's more, because of the unique design of metaexchange, you don't need to hand over the ownership of your UIA to us (so we can issue it), instead we can simply give you a metaexchange node to run on your own server! What this means is:

* Zero counterparty risk for you
* Accept BTC payment for your asset with ease
* Keep full ownership of your UIA, so you can still offer it on the internal bitshares exchange as well
* Have the option of making a profit from asset trading (if you enable buying back the asset)

https://metaexchange.info/

Profit taking will always happen. The downtrend adjustment was more than I expected due to a number of large blocks being unloaded. As DNotes becomes more popular both the volume and trading range will increase. Long term investors should focus their decision on the longterm trendline.

Regarding your other efforts to promote DNotes, we prefer to focus on our current projects at this time. Our current commitment is to successfully launch CRISP for Students during the week of March 30, 2015, followed by CRISP For Employee Incentive Benefits and CRISP for Charities. We will also gear up to promote CryptoMoms.

You may want to direct interested parties with questions to this forum. It is difficult to respond to questions without participating in the entire discussion.

"How do Dnotes earn income for retirement savers?" CRISP for Retirement savers earn interest during the initial period from a donation from provided by some major supporters.

We will not be interested to participate in crowdfunding at this time.

The interest (up to 1 million DNotes) so generously donated by some DNotes supporters is just an added bonus to what most of us are expecting from DNotes and that is long term capital appreciation.  The best performing retirement plans in the world are the ones that are significantly invested in things that realize capital gains.  Interest rarely keeps up with inflation and is generally associated with low yielding guaranteed investments.  The 12% per year (up to 1 million DNotes in total offered in the initial phase of the CRISP For Retirement) rarely happens elsewhere unless inflation is really high.  Think of this bonus interest as a great way to get some more DNotes into your CRISP and keep in mind the big powerhouse behind the CRISP is the potential for substantial long term appreciation / capital gains.