[ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open

[Dyna]

    Dear old Dad called me last night, all excited. Ma and him watch 60 every Sunday evening. He said that this sounds a lot like digital currency! He was impressed with what they have done with the solar panel also. Here is a link to the article/television segment:

http://www.cbsnews.com/news/future-of-money-kenya-m-pesa-60-minutes/

     Smokey

From what I understand about mPesa is it's more like a private issued virtual currency where users essentially use text messages to send virtual money back and forth through a third party using SMS. It's a great solution for the unbanked where they have access to cell phones, but a cryptocurrency solution will ultimately be a better solution in the long term.

A good way to understand the concept is to equate it to a pre-paid debit card. You can only spend up to the balance of what you have in your account. There is an on-ramp and an off-ram to accept and pay out in fiat currency. Each one charges a fee. When you pay for stuff, there is also a fees charge. It has certainly been a great solution for the unbanked. Regulatory constraints will make it nearly impossible to implement the same system in the USA.

[DNotes]

Nick wrote up a good article on Bitcoin Black Friday.

http://dcebrief.com/bitcoin-black-friday-is-almost-here/

[TeeGee]

Evander has been writing some great articles on DCEBrief. Well done. I just read the Bitcoin value crushing gold and silver article, and the point is well made that while government / the fed continue to manipulate the markets, people who are long on metals are unlikely to see their "Bitcoin-esque" price appreciation.

I think the next 4-6 months is going to be crucial for the US economy, and the USD in particular. If I personally had money to invest, I'd be purchasing all the USD I could currently purchase in volatile market pairs like JPY/ USD, EUR / USD, GPB / USD because those currencies are vulnerable to USD swings and market reactions. I would continue to purchase USD until the next FED rate announcement, and sell the USD afterwards once the FED *doesn't* raise the interest rate. In my view, it's easy money on the market swings.

http://www.zerohedge.com/news/2015-11-23/how-trade-feds-upcoming-policy-error-three-parts

Although you can't trade the bond moves outlined in the article, you can trade the currency swings that occur as a result in the currency trading pairs I listed above. I disclaim that I do not recommend anybody make investments based on some random guy on the internet's opinion - although I bet nearly everybody in this forum lives in the US and owns lots of USD anyway, which means that unless said people have foreign owned assets that can be converted to USD / or are prepared to sell your USD savings after the fed announcement... then ignore haha.

The reason why I say this though, and why I think this is the only time I'd ever purchase fiat money, is the predictability of its struggles and demise. It's awful, but people make fortunes out of economic collapse. You see, if I were a betting man, I'd highly doubt the US will increase the interest rate, because if they did, then the greatest financial storm you have ever seen will probably begin, by which case I'm short (bet against) equities and am long on any USD.

The pressure from this announcement is going to lead to them not needing to raise the rate, then the taper tantrum will happen. Stocks will probably go down, putting a need on USD liquidity, and cash goes up. US equity will get absolutely hammered quite quickly as a result, and this would continue until QE4 is announced (probbly in mid Jan) - because the current shadow banking hole is about to go negative. I give them 10 weeks before the bankers begin to wet their pants. They have about 3-4 weeks of spare time, then xmas holidays, and then the spectacle *could* begin.

Just my casual predictions anyway. I am rather concerned, and have been for some time. If I am correct, then I might quote this post in the future , if I'm wrong, I'll hope nobody remembers! but it will probably just mean crisis was deferred for a short while longer.

Been good to catch up on some reading the last few days, now I should get onto writing notes for this 30 minute seminar on "The digital currency and blockchain future" I am to give at a conference in 2 weeks. One of the other speakers was chairman of the Reserve Bank of New Zealand (the NZ Federal Reserve) for 14 years, and was former leader of the party that currently is in Government in NZ. I think it needs to be good... He will want digital currency, perhaps he already knows about it? I had lunch with him in like ~2011, perhaps he will remember.

[DNotes]

This is a bit long but a really good read, outlining fundraising challenges today in digital currency.

5 Insights from a Bitcoin Founder Seeking Funding

One of the most talked-about trends in the bitcoin ecosystem is that raising capital as an early-stage bitcoin startup is harder now than it was a year ago.

Sure, we're in the midst of bitcoin investment increasing dramatically year over year, but funding is down quarter over quarter, and there are other reasons VC dollars are hesitant to move into bitcoin startups.

In 2012, growth rates for the sector were still unclear, so it was considerably easier to "sell the dream, not the data". Now that data has come out around consumer wallet use and merchant adoption, some investors are shying away. It's been in this context that our team has set out to explore raising a seed round.

I’ve been meeting with early-stage bitcoin founders in San Francisco and New York who've accomplished what I'm setting out to do. Founders ranged from enterprise bitcoin data-as-a-service providers with a few clients to consumer wallet companies with hundreds of thousands.

Despite their differences, however, they offered much of the same advice. Here are the five things I’ve learned so far:

1. Bitcoin VCs first, general VCs never

The most often repeated advice I’ve received from industry founders is this: Don’t talk to VCs who don't get bitcoin, ever.

This has come from enterprise- and consumer-focused founders alike, because almost every founder I spoke to had a story that goes something like this: They're asked to meet with a big partner at a name-brand VC fund. Next, the founder realizes they aren’t an investment target, they're just a guinea pig there to teach the investment team about bitcoin.

This is obviously less than ideal, and can become a major waste of time.

While there's potential that a multibillion-dollar fund opens up to bitcoin just to invest in your startup, don’t count on it. Focus. The list of bitcoin VCs is public on Crunchbase, Mattermark and other sources.

My favorite list compiles all of these resources and is published by CoinDesk here.

2. It will never be this easy, it will never be this hard

The founders I reached out to for advice span the spectrum, many have been in bitcoin for years and several others are new to the space.

While the level of experience running a bitcoin startup varies, what doesn’t is the belief in a "golden era" that has past.

I can't list off how many times I’ve heard "but it was so much easier before X, you'll have a hard time now". Replace X with "Coinbase", "Mt Gox" or "bitcoin's price was $1,000". There is always a moment in every space to look at when raising was easier, and there was always a time when it was harder.

Few mention how difficult it was to raise at bitcoin's lows whether its price low or around the 2013 hard fork. Don’t let it distract you.

Melanie Shapiro, CEO of Case Wallet, advised:

"Have a simple message, we had 'We're the best hardware bitcoin wallet'. Find yours."

3. East Coast loves private blockchains, West Coast loves consumer

This is a very wide generalization I admit, and I apologize to the outliers I’ve met who buck my assessment.

Through our first set of meetings with bitcoin VCs, it has become very clear that a divergence in venture investing focus is present along geographic lines. California-based VCs are thrilled by 21 Inc, the globalization of exchanges and the coming consumer revolution with hundreds of millions of wallets.

By comparison, East Coast VCs tend to be focused on Wall Street disintermediation through private blockchains and other enterprise uses of bitcoin as a distributed ledger.

Both are often taken to extremes and neither opinion is right.

When on the East Coast, starting the conversation by covering bitcoin's use as an asset or currency is an appropriate move to judge the climate and make the foundational case on bitcoin. Do this before moving into a dialogue about how you're building your business around the technology.

4. Be public early, consistently and never stop pitching

There are several benefits to being public about your product.

What has become immediately clear during the fundraising process is that investors are much easier to pitch when the meetings open with "I've seen you on Twitter, people love the product and I can really see how this could scale".

Meetings typically start with 15 minutes of leveling the playing field and getting the VC on the same page in terms of how you see the world, your product’s wedge in the ecosystem and how you plan to grow.

Saving that time and talking about more intricate details is better for the VC and better for you. The only way you can get to that point is by getting the product in people's hands and being public about what you’re building.

Matt Schlicht, CEO of bitcoin social network Zapchain, said:

"Get out there and never stop pitching. Don't ever pitch small, pitch the biggest vision of what you want to build."

http://www.coindesk.com/five-insights-bitcoin-founder-funding/

[Chase]

Evander has been writing some great articles on DCEBrief. Well done. I just read the Bitcoin value crushing gold and silver article, and the point is well made that while government / the fed continue to manipulate the markets, people who are long on metals are unlikely to see their "Bitcoin-esque" price appreciation.

I think the next 4-6 months is going to be crucial for the US economy, and the USD in particular. If I personally had money to invest, I'd be purchasing all the USD I could currently purchase in volatile market pairs like JPY/ USD, EUR / USD, GPB / USD because those currencies are vulnerable to USD swings and market reactions. I would continue to purchase USD until the next FED rate announcement, and sell the USD afterwards once the FED *doesn't* raise the interest rate. In my view, it's easy money on the market swings.

http://www.zerohedge.com/news/2015-11-23/how-trade-feds-upcoming-policy-error-three-parts

Although you can't trade the bond moves outlined in the article, you can trade the currency swings that occur as a result in the currency trading pairs I listed above. I disclaim that I do not recommend anybody make investments based on some random guy on the internet's opinion - although I bet nearly everybody in this forum lives in the US and owns lots of USD anyway, which means that unless said people have foreign owned assets that can be converted to USD / or are prepared to sell your USD savings after the fed announcement... then ignore haha.

The reason why I say this though, and why I think this is the only time I'd ever purchase fiat money, is the predictability of its struggles and demise. It's awful, but people make fortunes out of economic collapse. You see, if I were a betting man, I'd highly doubt the US will increase the interest rate, because if they did, then the greatest financial storm you have ever seen will probably begin, by which case I'm short (bet against) equities and am long on any USD.

The pressure from this announcement is going to lead to them not needing to raise the rate, then the taper tantrum will happen. Stocks will probably go down, putting a need on USD liquidity, and cash goes up. US equity will get absolutely hammered quite quickly as a result, and this would continue until QE4 is announced (probbly in mid Jan) - because the current shadow banking hole is about to go negative. I give them 10 weeks before the bankers begin to wet their pants. They have about 3-4 weeks of spare time, then xmas holidays, and then the spectacle *could* begin.

Just my casual predictions anyway. I am rather concerned, and have been for some time. If I am correct, then I might quote this post in the future , if I'm wrong, I'll hope nobody remembers! but it will probably just mean crisis was deferred for a short while longer.

Been good to catch up on some reading the last few days, now I should get onto writing notes for this 30 minute seminar on "The digital currency and blockchain future" I am to give at a conference in 2 weeks. One of the other speakers was chairman of the Reserve Bank of New Zealand (the NZ Federal Reserve) for 14 years, and was former leader of the party that currently is in Government in NZ. I think it needs to be good... He will want digital currency, perhaps he already knows about it? I had lunch with him in like ~2011, perhaps he will remember.

You may be on to something TeeGee.  This article found me (lol) when I was looking for something else:

Coming Currency Wars Will Be the Best Investment Opportunities of the Next 20 Years

http://www.modestmoney.com/coming-currency-wars-will-be-the-best-investment-opportunities-of-the-next-20-years/25737

[Dyna]

Here some interesting comments worth reading:

Is Bitcoin Only Valuable to Crooks and Tax Cheats?

Comments From
Ellery Davies • 2 days ago

A growing number of reputable economists lean toward Will Luther’s conclusion. Fama, Thaler, Manchin & Schumer should broaden their cadre of advisors! Talk, for example, to Marshall Van Alstyne. The BU professor (a visiting scholar at MIT) is the leading authority on information economics.

It is not unusual for a new technology, a new platform, or even the shift to a new paradigm to be fueled by crime or vice. The early VCR had no TV tuner or timer (to store and playback television programs). A few were used for high school AV projects or auto showrooms, but consumer adoption would have been retarded, if not for p*rn*graphy.

Bitcoin is perceived by national legislators and regulators as a threat to governments and their ability to collect taxes. (This is changing in the US, where legislators are gradually recognizing that cryptocurrency presents more opportunities than threats)…

The threat perception is an illusion. If cryptocurrency begins to be perceived and used as a value store unto itself (and not as just as a transaction/debit instrument), it could begin to displace fiat currency for transactions and even savings. This will impact some institutions, such as central banks, national treasuries, currency boards and the TYPES and METHODS of tax collection. But it will not weaken the authority and ability of governments to pass laws, enact taxes, enforce tax collection, or spend.

More importantly, if a truly decentralized p2p currency, such as Bitcoin, begins to displace a nation’s currency (being trusted more than the printing press at the mint), it will ultimately lead to very positive things for both citizens and their governments.

Finally, governments will cultivate genuine trust, because they cannot fund projects by inflating the money supply. They will not be able to spend without at least an accounting entry for the project or account to which it is applied. Most importantly, they will have proof positive that the country is living within its means; balancing every dollar spent with a dollar collected, earned or loaned by a willing partner.

Ultimately, math is more trustworthy than the transient politics of the day. It is more trustworthy than the “good faith and credit of the American people”. It is more trustworthy than paper that is not linked to gold or even to a redemption promise.

Bitcoin is not a threat at all. Today, it’s a Geeky value transfer mechanism; tomorrow, it is likely to be the value in our wallets, all on its own. But, it is sorely misunderstood by the masses, and herein is its biggest challenge. Great inventions and revelations are often misunderstood or discounted: Copernicus in the 1500s; The “Democracy Experiment” in the 1700s; Emancipation in the 1800s; The Internet in the late twentieth century.

Bitcoin and the blockchain are similarly transformative. It is effectively a fundamental discovery rather than an invention.

Ellery Davies, Boston co-chair
Cryptocurrency Standards Association
crypsa.org
http://www.alt-m.org/2015/11/14/bitcoin-valuable-crooks-tax-cheats/

[Dyna]

This is a bit long but a really good read, outlining fundraising challenges today in digital currency.

5 Insights from a Bitcoin Founder Seeking Funding

One of the most talked-about trends in the bitcoin ecosystem is that raising capital as an early-stage bitcoin startup is harder now than it was a year ago.

Sure, we're in the midst of bitcoin investment increasing dramatically year over year, but funding is down quarter over quarter, and there are other reasons VC dollars are hesitant to move into bitcoin startups.

In 2012, growth rates for the sector were still unclear, so it was considerably easier to "sell the dream, not the data". Now that data has come out around consumer wallet use and merchant adoption, some investors are shying away. It's been in this context that our team has set out to explore raising a seed round.

I’ve been meeting with early-stage bitcoin founders in San Francisco and New York who've accomplished what I'm setting out to do. Founders ranged from enterprise bitcoin data-as-a-service providers with a few clients to consumer wallet companies with hundreds of thousands.

Despite their differences, however, they offered much of the same advice. Here are the five things I’ve learned so far:

1. Bitcoin VCs first, general VCs never

The most often repeated advice I’ve received from industry founders is this: Don’t talk to VCs who don't get bitcoin, ever.

This has come from enterprise- and consumer-focused founders alike, because almost every founder I spoke to had a story that goes something like this: They're asked to meet with a big partner at a name-brand VC fund. Next, the founder realizes they aren’t an investment target, they're just a guinea pig there to teach the investment team about bitcoin.

This is obviously less than ideal, and can become a major waste of time.

While there's potential that a multibillion-dollar fund opens up to bitcoin just to invest in your startup, don’t count on it. Focus. The list of bitcoin VCs is public on Crunchbase, Mattermark and other sources.

My favorite list compiles all of these resources and is published by CoinDesk here.

2. It will never be this easy, it will never be this hard

The founders I reached out to for advice span the spectrum, many have been in bitcoin for years and several others are new to the space.

While the level of experience running a bitcoin startup varies, what doesn’t is the belief in a "golden era" that has past.

I can't list off how many times I’ve heard "but it was so much easier before X, you'll have a hard time now". Replace X with "Coinbase", "Mt Gox" or "bitcoin's price was $1,000". There is always a moment in every space to look at when raising was easier, and there was always a time when it was harder.

Few mention how difficult it was to raise at bitcoin's lows whether its price low or around the 2013 hard fork. Don’t let it distract you.

Melanie Shapiro, CEO of Case Wallet, advised:

"Have a simple message, we had 'We're the best hardware bitcoin wallet'. Find yours."

3. East Coast loves private blockchains, West Coast loves consumer

This is a very wide generalization I admit, and I apologize to the outliers I’ve met who buck my assessment.

Through our first set of meetings with bitcoin VCs, it has become very clear that a divergence in venture investing focus is present along geographic lines. California-based VCs are thrilled by 21 Inc, the globalization of exchanges and the coming consumer revolution with hundreds of millions of wallets.

By comparison, East Coast VCs tend to be focused on Wall Street disintermediation through private blockchains and other enterprise uses of bitcoin as a distributed ledger.

Both are often taken to extremes and neither opinion is right.

When on the East Coast, starting the conversation by covering bitcoin's use as an asset or currency is an appropriate move to judge the climate and make the foundational case on bitcoin. Do this before moving into a dialogue about how you're building your business around the technology.

4. Be public early, consistently and never stop pitching

There are several benefits to being public about your product.

What has become immediately clear during the fundraising process is that investors are much easier to pitch when the meetings open with "I've seen you on Twitter, people love the product and I can really see how this could scale".

Meetings typically start with 15 minutes of leveling the playing field and getting the VC on the same page in terms of how you see the world, your product’s wedge in the ecosystem and how you plan to grow.

Saving that time and talking about more intricate details is better for the VC and better for you. The only way you can get to that point is by getting the product in people's hands and being public about what you’re building.

Matt Schlicht, CEO of bitcoin social network Zapchain, said:

"Get out there and never stop pitching. Don't ever pitch small, pitch the biggest vision of what you want to build."

http://www.coindesk.com/five-insights-bitcoin-founder-funding/

"1. Bitcoin VCs first, general VCs never

The most often repeated advice I’ve received from industry founders is this: Don’t talk to VCs who don't get bitcoin, ever.

This has come from enterprise- and consumer-focused founders alike, because almost every founder I spoke to had a story that goes something like this: They're asked to meet with a big partner at a name-brand VC fund. Next, the founder realizes they aren’t an investment target, they're just a guinea pig there to teach the investment team about bitcoin.

This is obviously less than ideal, and can become a major waste of time.

While there's potential that a multibillion-dollar fund opens up to bitcoin just to invest in your startup, don’t count on it. Focus. The list of bitcoin VCs is public on Crunchbase, Mattermark and other sources."

My concern is that even those VCs that have invested heavily in Bitcoin related business have been drying up. Our industry is clearly going through a period of adjustment.

[Chase]

DCEBrief mentioned in a CoinReport article:


Over 150 retailers expected to participate in Bitcoin Black Friday

Black Friday is the retail event of the year. Brick-and-mortar and online retailers alike have utilized the day to offer the best discounts to their customers. Since 2012, bitcoin has participated, and this year more than 150 retailers are expected to participate in Bitcoin Black Friday, sponsored by Private Internet Access (PIA).

According to the site, the event is fairly straightforward. Merchants list deals that are exclusive to bitcoin payments. Interested users can visit their site on Black Friday to see all the deals in one place. Users can visit beforehand and subscribe to the site’s mailing list for reminders and tips.

Indeed, the event brings benefits to bitcoin holders and those hoping for a wider acceptance of the cryptocurrency. CoinDesk explains that having a one-stop place for bitcoin users to find exclusive deals saves time and reduces stress. Today, Digital Currency Executive Brief posted a story explaining that the event has grown in popularity and significance since its first year. The increasing number of participating merchants can help expose bitcoin to a whole new audience. Interested members of this audience can do research on the bitcoin-exclusive deals and learn how bitcoin operates.

Inverse discussed another benefit of Bitcoin Black Friday: good press. Unfortunately, bitcoin is often associated from the general public’s point of view with unfavorable transactions, such as those done through Silk Road. Bitcoin Black Friday founder Jon Holmquist told Inverse that the event allows people to see retailers accept the cryptocurrency and treat it like a traditional currency.

The complete list of participating retailers won’t be released until Black Friday.

https://coinreport.net/150-retailers-expected-participate-bitcoin-black-friday/

[Dyna]

DCEBrief mentioned in a CoinReport article:


Over 150 retailers expected to participate in Bitcoin Black Friday

Black Friday is the retail event of the year. Brick-and-mortar and online retailers alike have utilized the day to offer the best discounts to their customers. Since 2012, bitcoin has participated, and this year more than 150 retailers are expected to participate in Bitcoin Black Friday, sponsored by Private Internet Access (PIA).

According to the site, the event is fairly straightforward. Merchants list deals that are exclusive to bitcoin payments. Interested users can visit their site on Black Friday to see all the deals in one place. Users can visit beforehand and subscribe to the site’s mailing list for reminders and tips.

Indeed, the event brings benefits to bitcoin holders and those hoping for a wider acceptance of the cryptocurrency. CoinDesk explains that having a one-stop place for bitcoin users to find exclusive deals saves time and reduces stress. Today, Digital Currency Executive Brief posted a story explaining that the event has grown in popularity and significance since its first year. The increasing number of participating merchants can help expose bitcoin to a whole new audience. Interested members of this audience can do research on the bitcoin-exclusive deals and learn how bitcoin operates.

Inverse discussed another benefit of Bitcoin Black Friday: good press. Unfortunately, bitcoin is often associated from the general public’s point of view with unfavorable transactions, such as those done through Silk Road. Bitcoin Black Friday founder Jon Holmquist told Inverse that the event allows people to see retailers accept the cryptocurrency and treat it like a traditional currency.

The complete list of participating retailers won’t be released until Black Friday.

https://coinreport.net/150-retailers-expected-participate-bitcoin-black-friday/

Nice find, Chase. Good to know that DCEBrief is being quoted.

[DNotes]

http://dcebrief.com/digital-currency-will-likely-privatize-money-again/

[Dyna]

The following is a rather lengthy interview with Andreas Antonopoulos, a well regarded  expert of our industry.

I totally agreed with Andreas that Bitcoin is not going to go away. Its highly disruptive nature has generated serious concern especially among the incumbents in the banking and financial services sectors leading to aggressive push-back.  Given the time either Bitcoin or another digital currency like DNotes will gain mass acceptance.

I also agree that “It's ridiculous to expect a six years old radically disruptive technology to simply become an "overnight success". The secret of overnight success is 10-20 years of development.

“CoinTelegraph: Do you think Bitcoin has already reached a “point of no return” where only dramatic events could really kill it, or do you think there’s still a certain percent of chances that the system will just collapse and make it disappear?

Andreas Antonopoulos: Bitcoin is the proof-of-concept for decentralized network-centric money and finance. That concept is now established and shown it can scale and thrive. Whatever form it takes in the future, whether it is Bitcoin, something different called Bitcoin or something called something else, the concept of network-centric money happened. It will continue to disrupt the global financial system for decades. In the long run it cannot be stopped because it is an idea based on math that can't be uninvented. ……

We're in the 6th year of this technology. It's like giving up on the Internet in 1992 because there were not enough users. It's ridiculous to expect a six years old radically disruptive technology to simply become an "overnight success". The secret of overnight success is 10-20 years of development. The important trends in Bitcoin are all showing fantastic results: innovation, tech development, investment, transaction volume etc. People need to have more realistic expectations and a bit of patience. The blockchain bandwagon is about as interesting as the development of corporate intranets in the late 90s. It doesn't lead anywhere revolutionary, it's just a distraction for banks trying to avoid disruption by taking half-measures.”


Bitcoin: Left For Dead Hundreds Of Times - Still Alive And Kicking

11-25-15
Cointelegraph Author:
Marco E. G. Maltese

BitcoinCT r:  7 has been left for dead… hundreds of times in the last 5 years.

But it’s still here between us, in better health than ever and there’s no sign it’s going to leave us anytime soon. The question is: why so many experts keep failing at declaring it dead ahead of time? We’ve invited Mr. Andreas Antonopoulos to share with us his view on the matter, and what he thinks about the solidity of the Bitcoin system itself at the current time.  

Read More:
http://cointelegraph.com/news/115722/bitcoin-left-for-dead-hundreds-of-times-still-alive-and-kicking

[Dyna]

http://dcebrief.com/digital-currency-will-likely-privatize-money-again/

Another excellent article. DNotes' ultimate goal is to reach the point one day when the vast majority of the transactions are economic transaction between two parties. We believe that ground zero is starting with small business owners, including women small business owners. There will come a day when it makes a lot of sense for small business owners and their employees to trade among themselves using DNotes as the medium of exchange with no middleman and nearly zero fees.



"Moy feels we’re on a path towards financial privatization once again, and in his eyes, bitcoin is the cryptocurrency that can lead us there:

“I see bitcoin as the improvement in technology that allows money to be privatized again, back where it should be because it is my belief that one of the main uses of money is economic transactions. Why is government involved in economic transactions except for the ability to tax that transaction and get their income out of it? So, if money is primarily used in economic transactions between two people, then it makes a lot of sense to me that – if current technology allows, then money should be privatized because it’s used between two people.”

DNotes founder Alan Yong shares this goal. “When the vast majority of DNotes transactions are between two parties, there will be little doubt that DNotes is superior to fiat currency,” he explains on the digital currency forum bitcointalk.org. DNotes sees the value in and has been focusing on growing its currency because of the power behind this concept. There is a huge benefit to having private control over your money, as it will make business much more efficient instead of feeding the bank and government.

[kpoleau]

Hi


I am a new Dnote user. I installed the client and started to synchronise the blocs. However it is very very slow.
It synchronizes only 1 block per second ! There is more than 915000 blocks to download, it will take weeks to complete !!

How to speed up the blockchain download ?

Sorry if the question has already been answered, I can't read all the 400 pages.

Thanks

[DNotes]

Hi


I am a new Dnote user. I installed the client and started to synchronise the blocs. However it is very very slow.
It synchronizes only 1 block per second ! There is more than 915000 blocks to download, it will take weeks to complete !!

How to speed up the blockchain download ?

Sorry if the question has already been answered, I can't read all the 400 pages.

Thanks

Welcome kpoleau, do you have a good amount of connections? 4-6 would probably be the minimum amount I would like to see.

When I start a brand new blockchain download it usually takes about 4 hours. The DNotes blockchain is about 500 megs, which on most connections today takes only a few minutes. The bigger issue is that the client has to read the data as it downloads. On a slower computer, that could take what seems like forever. I've tried it on an old XP machine I had, and it would have taken a week if I let it continue.

The best solution for you would be to use the DNotesVault, which stores coins in a offline wallet for you, and we have a 100% matching fund guarantee contributed by DNotes stakeholders. Setting up an account is very simple, and it is very easy to use, visit DNotesVault.com. Due to the nature of the DNotesVault, it works like a vault that is accessible online, all withdrawals take 24-48 hours to process.

[kpoleau]

Thank you for your answer.
I have between 8 to 10 connections. Upnp is enabled and it seems my router correctly forwards the ports (this is why I can have more than 8 connections). But it is still slow.
My line speed is 20Mbps down / 2Mbps up. My computer is quite recent with SSD drive, Core I5, 8Gb RAM... I don't think this is the bottleneck.

Wow! 4 hours sounds very fast ! My DNotes client is running since yesterday and it has downloaded only 2% of the blockchain.
I would give DNotesVault a try but only at the very last resort.

I will continue to search for a while...unless you have another idea

[DNotes]

Thank you for your answer.
I have between 8 to 10 connections. Upnp is enabled and it seems my router correctly forwards the ports (this is why I can have more than 8 connections). But it is still slow.
My line speed is 20Mbps down / 2Mbps up. My computer is quite recent with SSD drive, Core I5, 8Gb RAM... I don't think this is the bottleneck.

Wow! 4 hours sounds very fast ! My DNotes client is running since yesterday and it has downloaded only 2% of the blockchain.
I would give DNotesVault a try but only at the very last resort.

I will continue to search for a while...unless you have another idea

You definitely have the hardware and internet speed to make it a quick download. Sounds like your network is accepting connections fine, and it is actually downloading. Tough to pinpoint what could be causing the issue. Out of curiosity, where in the world are you located?

[IMZ]

Hi


I am a new Dnote user. I installed the client and started to synchronise the blocs. However it is very very slow.
It synchronizes only 1 block per second ! There is more than 915000 blocks to download, it will take weeks to complete !!

How to speed up the blockchain download ?

Sorry if the question has already been answered, I can't read all the 400 pages.

Thanks

Welcome, kpoleau. Don't be sorry. You are a member of our community, and we're delighted to assist:

gotta tackle this issue, campers, at the very least, state the reality of it.

IndiaMikeZulu, although in a first-world nation, struggles with Australia's generally poor Internet quality.* Dnotes' vault is an option. We've resorted to a combination of (a) electrum wallets, and (b) lightweight wallets (android), and (c) sometimes storing each other's coin if the crypto has a bulky wallet, and (d) actually literally taking my laptop to town (to our Tech Officer's home . . . ) in order to do the initial wallet download.

Note: when the speak of services to the 'unbanked,' it's high time we asked about the cost of the data they'd use. The day I got out of hospital, it cost me $22 worth of data to synch my wallets (which included -- we've ditched it since -- my 'Bitcoin Behemoth.')


*It's one reason we plumped for a generally Australian-centric crypto-geekin' model: Oz has a range of concerns that make cross-coin-community cooperation sensible. No joke, readers, the next crypto wallet south of this keyboard is Antarctica.

[Dyna]

Hi


I am a new Dnote user. I installed the client and started to synchronise the blocs. However it is very very slow.
It synchronizes only 1 block per second ! There is more than 915000 blocks to download, it will take weeks to complete !!

How to speed up the blockchain download ?

Sorry if the question has already been answered, I can't read all the 400 pages.

Thanks

Welcome, kpoleau. Don't be sorry. You are a member of our community, and we're delighted to assist:

gotta tackle this issue, campers, at the very least, state the reality of it.

IndiaMikeZulu, although in a first-world nation, struggles with Australia's generally poor Internet quality.* Dnotes' vault is an option. We've resorted to a combination of (a) electrum wallets, and (b) lightweight wallets (android), and (c) sometimes storing each other's coin if the crypto has a bulky wallet, and (d) actually literally taking my laptop to town (to our Tech Officer's home . . . ) in order to do the initial wallet download.

Note: when the speak of services to the 'unbanked,' it's high time we asked about the cost of the data they'd use. The day I got out of hospital, it cost me $22 worth of data to synch my wallets (which included -- we've ditched it since -- my 'Bitcoin Behemoth.')


*It's one reason we plumped for a generally Australian-centric crypto-geekin' model: Oz has a range of concerns that make cross-coin-community cooperation sensible. No joke, readers, the next crypto wallet south of this keyboard is Antarctica.

Welcome to DNotes, kpoleau. Feel free to let us know anytime we can be of help. Mark is right, we are always delighted to assist.

We recognize that downloading the Blockchain and maintaining your own wallet is burdensome. As a result of that, we created DNotesVault for the convenience of our stakeholders. It is not only easy to setup an account, we guarantee the safety of your deposit with 100% matching fund secured at different locations. Though our investment and maintenance cost is significant, this unique service is provided to our stakeholders free of charge. We are here for the long term and dedicated to the mutual benefits of everyone. DNotes is doing many things uniquely different and in most cases, doing our part to help solve many challenges confronting our industry.

[wiser]

This is a great article! I've actually watched the silver market fairly closely since before its big bubble, and it's been quite stagnant ever since. The important thing to know about buying silver is that you want to take physical delivery of your silver. In other words, buy actual silver, not just shares in silver. Silver in your possession could potentially be helpful in any number of apocalyptic economic situations. But if you only buy silver shares, otherwise known as "paper silver," it won't be much help to you in the event of major economic problems. The factors behind the spot price of silver are numerous and complex, but one major one is the fact that there is more paper silver than actual silver circulating, which means that if everyone owning paper silver were to suddenly demand physical delivery, there wouldn't be enough silver to fulfill all the orders. That's why it's actually very important to buy real silver if you are investing in it for the long haul.

http://dcebrief.com/op-ed-has-anyone-noticed-bitcoins-value-crushing-gold-silver-over-last-5-years/

[kpoleau]

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