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

[Mochilles]

It may be prudent to allocate some development resources to build an Electrum wallet for Dnotes, as with many other currencies. In that way we can offer a lightweight client for the majority of cryptocurrency users who prefer to manage their own wallets locally, without ever having to download the blockchain. Storing everything in the guaranteed vault is ideal for long-term storage, but for day-to-day usage people will want to have a local client that doesn't need burdonsome syncing. Electrum is perfect for this, and the platform is fairly easy to adopt.

[Dyna]

Happy Thanksgiving to everyone in the United States. This is a very important day for family get together. Expect a quiet day. I will be gone most of today.

[Dyna]

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/

Excellent advice, Wiser. "Silver in your possession could potentially be helpful in any number of apocalyptic economic situations." I agree, thanks.

[Dyna]

It may be prudent to allocate some development resources to build an Electrum wallet for Dnotes, as with many other currencies. In that way we can offer a lightweight client for the majority of cryptocurrency users who prefer to manage their own wallets locally, without ever having to download the blockchain. Storing everything in the guaranteed vault is ideal for long-term storage, but for day-to-day usage people will want to have a local client that doesn't need burdonsome syncing. Electrum is perfect for this, and the platform is fairly easy to adopt.

Good recommendation, Mochilles. We considered various developments at the time when DNotesVault was developed but later decided to put them on hold and focused on doing the best job for DNotesVault, which I believe we did.

2016 will be the year to expect multiple projects in development. We expect to start promoting DNotes as a medium of exchange at the later part of next year to include mobile payments, among others. That is when a lite mobile wallet will be of great value. The concept of "freezing" address in Electrum wallet is an excellent idea for convenience and protection. You can not send funds out if you do not have enough funds in non-frozen addresses. It's like you don't carry more cash than you are comfortable but have the means to get more (unfrozen another address) if you need to.

Up to this point, DNotes and its ecosystem have been privately funded, without asking for donation from our communities. The funding and maintenance cost, including what we have invested in public relation is significant but does not seem to have been reflected in the price of DNotes. If VC funding were used in building the infrastructure we have today, I would expect the amount to be significantly higher than DNotes market value of $1 million. We are committed to a very long term strategy in building DNotes to be the trusted global digital currency for everyone worldwide to participate. To that end, it is well worth our dedication and contributions. We are fortunate to have amazing communities that contributed to our success in many different ways. Thank you all. Happy Thanksgiving.

[wiser]

Happy Thanksgiving to everyone in the United States. This is a very important day for family get together. Expect a quiet day. I will be gone most of today.

Happy Thanksgiving to you too, Alan! And to everyone else in the DNotes community

[DNotes]

Happy Thanksgiving to everyone in the United States. This is a very important day for family get together. Expect a quiet day. I will be gone most of today.

Happy Thanksgiving to you too, Alan! And to everyone else in the DNotes community

Happy Thanksgiving all! Same here, will be gone most of the day.

[DNotes]

http://dcebrief.com/i-was-out-to-put-jp-morgan-out-of-business-interview-with-veritaseums-reggie-middleton/

[kpoleau]

Is the whole blockchain (or at least a recent version of the blockchain) available to download as a zip file somewhere ?
It would be a good idea for people (like me) who have issues to sync the client. (865700 blocks left to sync for me at the moment...)

[DNotes]

Is the whole blockchain (or at least a recent version of the blockchain) available to download as a zip file somewhere ?
It would be a good idea for people (like me) who have issues to sync the client. (865700 blocks left to sync for me at the moment...)

No guarantees, but we can try it. The blockchain files become linked to your wallet as you download it. Have you sent coins to your wallet address already?

[Chase]

http://dcebrief.com/i-was-out-to-put-jp-morgan-out-of-business-interview-with-veritaseums-reggie-middleton/

This is one of my favorite articles to date - excellent job Evander!  Reggie Middleton is a very wise man and has a new fan! 

After reading this, I feel the only thing standing in the way of DNotes and Bitcoin will be stupid government regulation designed to protect the big banks (just my opinion).  The government needs to be careful however, or the whole movement will move outside their country where they will have no say at all, but their citizens will still be able to use these global cryptocurrencies.


"Heading into 2016, what changes or improvements would you like to see in the digital currency market as a whole?"

I’d like to see more education and a deeper understanding as to what these new opportunities truly are and what they can bring to the table. Due to sloppy and sensationalist reporting in the media, the absolute paradigm-shifting potential of Bitcoin (and related tech) is being pushed to the wayside. A perfect example of this is the use of the term “Blockchain” by banks and bank services vendors. Yes, blockchain tech is going to be transformative for the banking industry, but unless they get a clue, it is not going to be transformative in the ways they desire.

What makes the bitcoin blockchain so desirable is its zero-trust attributes. These attributes are powered not only by the breakthrough in technology that created the bitcoin blockchain but by the very thing that made said breakthrough extraordinary in everyday practice, which is “The Network Effect.” Bitcoin’s blockchain is already 10,000x stronger than the strongest corporate network known (Google). Thus, if you were to convince 1,000 said networks to pool all of their network resources and cooperate fully (yep!), it would still pale (and fail) as compared to the Bitcoin blockchain.

Discussing blockchains without Bitcoin’s zero-trust attributes is like discussing which racing cars are the fastest without their engines installed.

[Chase]

Happy Thanksgiving to everyone in the United States. This is a very important day for family get together. Expect a quiet day. I will be gone most of today.

Happy Thanksgiving to you too, Alan! And to everyone else in the DNotes community

Happy Thanksgiving to all our U.S. friends and everyone in cryptocurrency U.S.A.   

[kpoleau]

Is the whole blockchain (or at least a recent version of the blockchain) available to download as a zip file somewhere ?
It would be a good idea for people (like me) who have issues to sync the client. (865700 blocks left to sync for me at the moment...)

No guarantees, but we can try it. The blockchain files become linked to your wallet as you download it. Have you sent coins to your wallet address already?

I didn't know that the blockchain was linked to the wallet. This means if we change the wallet file, the blockchain has to be downloaded again ?

I have not sent coins to my DNotes address yet.

[DNotes]

Is the whole blockchain (or at least a recent version of the blockchain) available to download as a zip file somewhere ?
It would be a good idea for people (like me) who have issues to sync the client. (865700 blocks left to sync for me at the moment...)

No guarantees, but we can try it. The blockchain files become linked to your wallet as you download it. Have you sent coins to your wallet address already?

I didn't know that the blockchain was linked to the wallet. This means if we change the wallet file, the blockchain has to be downloaded again ?

I have not sent coins to my DNotes address yet.

Depends on the scenario, if you downloaded blocks using wallet A, then send coins to wallet B, then switch the wallet files after that transaction confirmed, you won't see the coins in wallet B and have to download wallet B's blockchain from scratch to see the coins. If you actively using two wallets, I think the best way to do that is to just rename the whole data folder back and forth.

I'm starting to download a new blockchain now on a fresh wallet. I haven't decided where to upload it yet, but it will either be tonight or tomorrow. I will send you a PM.

[kpoleau]

Thanks. We'll try that. At least we'll know whether it works or not with a new wallet.

[HORT]

Eat, drink, and be merry my friends!! Happy Thanksgiving to all!

[Chase]

We are starting to get some accurate information now on just how disruptive cryptocurrency and all associated new technology is going to be for the banks.  Of course the accurate information is NOT coming from the banks.

                       *****

"Ex-Barclays CEO: Banks are about to have an 'Uber moment' — and it's going to be painful"

Antony Jenkins, the former CEO of Barclays, has a nightmare vision for the future of big banks.

In a speech in London this week he said: "The incumbents risk becoming merely capital-providing utilities that operate in a highly regulated, less profitable environment, a situation unlikely to be tolerated by shareholders."

Jenkins says a series of Uber-style disruptions in the industry could shrink headcount at traditional big banks by as much as 50%, while profitability in some areas could collapse by over 60% — huge predictions from a man who, until recently, ran one of Britain's biggest banks.

He adds: "In my view only a few [incumbent banks] will have the courage and decisiveness to win in this new field."

The problem? Financial technology, better known as fintech.

Jenkins, who was ousted as Barclays CEO in July, says a new wave of tech-savvy startups that can do things better, faster, and cheaper than the big banks will disrupt their traditional businesses like lending, payments, and wealth management.

He isn't alone in thinking this. A survey by software firm Temenos released on Thursday found 27% of senior bankers named tech companies as the biggest threats to their businesses.

In fact, we're already seeing it happen with startups like Lending Club and Funding Circle (lending), Square (payments), Nutmeg (wealth management), and TransferWise (international payments) — all of whom Jenkins name checks in his speech at Chatham House.

Jenkins recently visited Silicon Valley to hobnob with fintech types out there and it's convinced him that financial services are about to be disrupted in the same way publishing, telecoms, and the music industry have been.

He says:

We will see massive pressure on incumbent banks, which will struggle to implement new technologies at the same pace as their new rivals. That will make it increasingly challenging for them to deliver the returns and profitability that their shareholders demand.

Ultimately, those forces will compel large banks to significantly automate their business. I predict that the number of branches and people employed in the financial services sector may decline by as much as 50% over the next 10 years, and even in a less harsh scenario I expect a decline of at least 20%.

A halving of headcount and branches over 10 years! That is a huge decline. The prediction coincides with reports that Lloyds is poised to axe 1,000 jobs as part of branch closures and increased automation.

Full article:  https://search.yahoo.com/search?fr=mcafee&type=C211US876D20151107&p=This+is+the+%E2%80%9CUber+moment%E2%80%9D+for+banks

[CryptoBroker79]

Happy Thanksgiving to our neighbors down south. I always look forward to watching football on American thanksgiving!

[IMZ]

I feel the article and comments here warrant p a t i e n t reading:

https://www.reddit.com/r/ethereum/comments/3u2ka6/the_bis_report_bankers_show_their_teeth/

[CryptoBroker79]

I feel the article and comments here warrant p a t i e n t reading:

https://www.reddit.com/r/ethereum/comments/3u2ka6/the_bis_report_bankers_show_their_teeth/

It really sounds like confidence in Bitcoin is growing. I agree with the general theme of the discussion, that a battle with Bitcoin is one that bankers are certain to lose. Their best hope is to work with the industry and help it flourish.

[Dyna]

We are starting to get some accurate information now on just how disruptive cryptocurrency and all associated new technology is going to be for the banks.  Of course the accurate information is NOT coming from the banks.

                       *****

"Ex-Barclays CEO: Banks are about to have an 'Uber moment' — and it's going to be painful"

Antony Jenkins, the former CEO of Barclays, has a nightmare vision for the future of big banks.

In a speech in London this week he said: "The incumbents risk becoming merely capital-providing utilities that operate in a highly regulated, less profitable environment, a situation unlikely to be tolerated by shareholders."

Jenkins says a series of Uber-style disruptions in the industry could shrink headcount at traditional big banks by as much as 50%, while profitability in some areas could collapse by over 60% — huge predictions from a man who, until recently, ran one of Britain's biggest banks.

He adds: "In my view only a few [incumbent banks] will have the courage and decisiveness to win in this new field."

The problem? Financial technology, better known as fintech.

Jenkins, who was ousted as Barclays CEO in July, says a new wave of tech-savvy startups that can do things better, faster, and cheaper than the big banks will disrupt their traditional businesses like lending, payments, and wealth management.

He isn't alone in thinking this. A survey by software firm Temenos released on Thursday found 27% of senior bankers named tech companies as the biggest threats to their businesses.

In fact, we're already seeing it happen with startups like Lending Club and Funding Circle (lending), Square (payments), Nutmeg (wealth management), and TransferWise (international payments) — all of whom Jenkins name checks in his speech at Chatham House.

Jenkins recently visited Silicon Valley to hobnob with fintech types out there and it's convinced him that financial services are about to be disrupted in the same way publishing, telecoms, and the music industry have been.

He says:

We will see massive pressure on incumbent banks, which will struggle to implement new technologies at the same pace as their new rivals. That will make it increasingly challenging for them to deliver the returns and profitability that their shareholders demand.

Ultimately, those forces will compel large banks to significantly automate their business. I predict that the number of branches and people employed in the financial services sector may decline by as much as 50% over the next 10 years, and even in a less harsh scenario I expect a decline of at least 20%.

A halving of headcount and branches over 10 years! That is a huge decline. The prediction coincides with reports that Lloyds is poised to axe 1,000 jobs as part of branch closures and increased automation.

Full article:  https://search.yahoo.com/search?fr=mcafee&type=C211US876D20151107&p=This+is+the+%E2%80%9CUber+moment%E2%80%9D+for+banks

The entire banking and financial services industry will experience increasingly disruptive threats on a global basis. There is no place to hide and banks will continue to push back hard. Disruptions are not coming from Bitcoin and digital currency alone. The real "Uber Moment" will be when tens of millions of outlets are permitted to act a payment banks. Technically every Point of Sales (POS) is an ATM. Strictly speaking they are money changers. There will come a day when the citizens of the world can purchase $10 of DNotes from any POS like they can purchase $10 worth of other goods and services. This may be years from now but it will happen. But there will come a day when many DNotes transactions will be between two parties without middle men at nearly zero fees. That is when DNotes will become far superior to fiat currency. Money distribution will be widely available due to the "Uber" model but the "fees" will not go away.

Meanwhile, the "Uber Moment" may already taking place for banks in India:

“Payments banks can act as business correspondents for commercial banks and transport their services to almost every nook and corner of the country

RBI’s decision could lead to the development of an ecosystem wherein commercial banks can now tie up with any payments bank to access an elevated technological expressway to reach customers in far off places

Reserve Bank of India (RBI) permitted 11 entities—mostly companies—to set up payments banks. In the process, it rewrote precedence in Indian banking.

Payments banks offer the proposition to reach a significantly wider base of customers, which the existing banking infrastructure may take a long time to reach. Thus, commercial banks can use these payments banks to piggyback and offer loans and other such services which a payments bank cannot offer as they can only take deposits.

Payments banks can act as business correspondents for the universal banks and transport their services to almost every nook and corner of the country.

Delivering his Independence Day address, Prime Minister Narendra Modi summed up the NDA’s approach and said, “We resolved that we would erase this blot and would provide a solid base to the financial inclusion which is talked about the world over, by integrating the poorest of the poor to the mainstream economic activities; and this is only the beginning.”