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

[Dyna]

" . . . A good majority of Bitcoin based businesses have come and gone, the fewer of these fly by night operations DNotes is associated with the better. By biding time, DNotes can pick and choose which businesses to team up with . . . "

Ahh! IndiaMikeZulu, those goofy P2P guys! In-community merchant-network development, as the first block in the wall, has been our call for . . . ummm . . . 30 months.* Every Dnotes person who has a business, every Dnotes person who can get hold of some wholesale digital goods, every Dnotes person (in a particular nation) who wants to tackle selling 10-oz silver bars for Dnotes, can sell those goods and products in-community.

Do it!

*Although we only actually managed proof of concept, Ian and I were running 'Yacoin Australia' in 2013. We offered Yacoin (in 'packets') for $AU -- making Yacoin at that time only the third crypto to ever be sold for two different fiat currencies -- and bars of silver for Yacoin.

Mark (IndiaMikeZulu), Australia

It is a good idea to develop a relationship with those who are currently involved in gold and silver. I have a few LinkedIn connections I might approach when I have a little more time.

Finishing the first draft of my book is currently my highest priority. It may not be easy to understand why it is so important.

"We do things others won't do, so that one day we can do things others can't do" That has always been my business philosophy. As can be expected, our team has invested a significant amount in DNotes, the currency.  If that is all we needed to do, we will not be much different than the other altcoins. We have also invested a significant amount in our ecosystem, but alone with a huge amount of efforts and other resources. We know that this is what sets DNotes apart from the others and given sufficient time it  will make it difficult for others to replicate what we have accomplished. It is also the best path to building a trusted brand and the best strategy to gain acceptance of DNotes as a medium of exchange.

We know for a fact that small business owners, including women small business owners, are struggling. Many employees have also been struggling along side with them and many of them have not seen a pay raise for years. Yet quitting is often not an option, because there are very few jobs available. We also know that majority of new businesses failed during the first years in business. New business formations are dropping from over 500,000 to 400,000 against 470,000 in closings. Only about 10% of business school students are thinking of starting their own business upon graduation, significantly lower than what I remember when I graduated with my MBA. I started my first business upon graduation.

These are all very interesting dynamics. My book is being written to help provide some relief. I am very passionate about helping small business owners and there is a great fit in what DNotes has been doing, including CRISP For Retirement, CRISP For Employee Incentive Benefits and the best path to adaption of DNotes as a medium of exchange.

What else is significant? The book is our first revenue producing project of the new company. Although not finalized it could be offered along with a subscription site, along with many partners offering a whole array of business services.

We believe in offering things of substance to create a useful purpose for DNotes. This is very different than the prevailing mind-set of our industry. I don't expect everyone to agree with our approach and strategies but that is always the case and that may be a good way to explain the current correction of DNotes price.  People always re-evaluate their investment and adjust their position from time to time. When a new trend developed, many just follow, often without knowing why. That is the dynamics of  free market investing.

[DNotes]

http://dcebrief.com/bitcoin-black-friday-2015-rebounds-strongly-after-down-year/

[DNotes]

Very well expressed and objective view point, mochillies. I appreciate that you took time to communicate your opinion, which, I have no doubt is shared by many others and most likely explained why there has been a sudden drop in the demand for DNotes.

“Speculation is NOT a dirty word. I feel this community sees speculators as pump and dump vultures. We need to expunge this toxic idea from our consciousness. Speculators are not the enemy, they are the lifeblood of a project like this.   When Google and Facebook and Amazon IPO their companies on the market, they're offering shares to SPECULATORS to catapult their business potential into the stratosphere. The best thing a company can do to grow is to attract speculators on purpose by offering them shares, or in our case coins.”

I agree with you that speculation is not a dirty work. Loosely used, we all are speculators and all business owners and investors are speculators. We are not against speculators or have made any attempts to discourage them from investing in DNotes. This is a free market. People buy and sell at will. However, I can say this definitively:

•   We do not support pump and dump, but not all speculators are part of P&D

•   By strategic choice DNotes is positioned as a long term investment and as such not likely to be a favorite of short term investors

•   DNotes is not dependent on the industry as its only market target. It has been positioning itself to reach out to the global market, as reflected in the creation of CryptoMoms, Family of CRISPs, DNotesVault and DCEBrief. Achieving marketing penetration beyond our industry, is a very long process with little near term payoff but the correct path to gain mass acceptance over the long haul. This will not happen overnight. A 5 to 10 year period reasonable for any long term investment.

•   We believe that the true value of DNotes can only be realized if it can meet the full functions of money (unit of account, store of value, and medium of exchange) not a single digital currency including DNotes and Bitcoin has succeeded so far. Consequently, I have to add that the bankers, including Jamie Dimon, CEO of JP Morgan Chase, has good reasons not to consider our industry as a threat. We will not be until there is a digital currency that can meet or exceed the full functions of money. That is DNotes’ strategic goal but it will take years to accomplish our mission, hence a long road ahead.


•   Technology evolves quickly. Many great “innovations” in our industry that have driven the price of many altcoins to the “moon” are now ice-cold rocks on earth. Investing heavily in technologies before there are sufficient users’ demands is not the best use of limited resources. Many great ideas or projects failed because they invested heavily in technology and other infrastructure before there is sufficient need for what they have to offer. Investing heavily in payment network and mobile applications at this time or promoting DNotes as a medium of exchange is a loosing proposition. Many have tried and they all have failed.

Mochillies, I appreciate the time you spent to express your opinion, but I respectfully disagree that we have to change course in response to the DNotes price decline. I understand the concern and it is disappointing to me as well. That is the nature of speculative investing in a free market environment.

If you believe that there are things that you can do to help improve DNotes stakeholders’ value I am sure you will get the support of our community and it will be very much appreciated. We are all stakeholders with a mutual interest to see that DNotes be successful. It is very natural that there are differences of opinion on the best way of getting there. Perhaps if more people could pitch in to help, it may make a difference.

Ok, lets look at price. DNotes is currently number 174 out of 672 AltCoins in price alone. But, we number 38 out of 672 in Market Capitalization. Sorry, I don't see a problem here. As with all things in nature and human kind, slow and steady is the way to lasting success. At the present time, it is less important that each DNote has a high value, then it is that people know about DNotes, wither they use, or hold them, or not.

As a relatively new coin, DNotes has done quite well in it's short lifetime. As the coin matures along with it's ecosystem, the value will start to rise, slowly. And that is the key. Almost all altcoins that have achieved a high monetary value in a short time have either failed completely or are almost worthless now. There are some exceptions but, they mostly serve niche markets, some of which DNotes would not want to be connected to.

Our marketing will spread the word in a realistic and sustainable manor. There is no long term value to being a "flash in the pan". Consider this analogy; the Pyramids in Egypt still stand, they took a lifetime to build. Your typical house built today in a month will be gone a hundred years from now. Slow and steady with solid foundations will endure the test of time, and with time comes value.

On a different subject but, not far removed, here's one of the best articles on crypto detractors and supporters I have ever read:

http://bit.ly/1NgEGLL  

In some ways it speaks to Notes as well as Bitcoin.

There aren't many coins that have held their ground for this long. Many of the coins that have survived were the ones I would call the originals, not mineable/insignificant rate of release, or highly specialized in a specific niche. If I were to categorize coins DNotes falls into the same category as Bitcoin, Litecoin, and Doge. What I would like to see is rate of release of coins versus price stability compared for different coins. I'd be willing to bet DNotes would be in the top 10, that would demonstrate DNotes strength in terms of price. However, I don't feel the price as this very moment is a major factor in the growth of DNotes.

I agree, in fact a lower price may allow DNotes to fly under the radar and carefully observe the state of the entire industry, waiting for the perfect opportunity to make a move. A good majority of Bitcoin based businesses have come and gone, the fewer of these fly by night operations DNotes is associated with the better. By biding time, DNotes can pick and choose which businesses to team up with, rather than taking anything that's thrown our way.

Great posts. Industry partners will be important to DNotes growth. We will want to partner with groups, or organizations that align with DNotes philosophy and core values.

[DNotes]

" . . . A good majority of Bitcoin based businesses have come and gone, the fewer of these fly by night operations DNotes is associated with the better. By biding time, DNotes can pick and choose which businesses to team up with . . . "

Ahh! IndiaMikeZulu, those goofy P2P guys! In-community merchant-network development, as the first block in the wall, has been our call for . . . ummm . . . 30 months.* Every Dnotes person who has a business, every Dnotes person who can get hold of some wholesale digital goods, every Dnotes person (in a particular nation) who wants to tackle selling 10-oz silver bars for Dnotes, can sell those goods and products in-community.

Do it!

*Although we only actually managed proof of concept, Ian and I were running 'Yacoin Australia' in 2013. We offered Yacoin (in 'packets') for $AU -- making Yacoin at that time only the third crypto to ever be sold for two different fiat currencies -- and bars of silver for Yacoin.

Mark (IndiaMikeZulu), Australia

It is a good idea to develop a relationship with those who are currently involved in gold and silver. I have a few LinkedIn connections I might approach when I have a little more time.

Finishing the first draft of my book is currently my highest priority. It may not be easy to understand why it is so important.

"We do things others won't do, so that one day we can do things others can't do" That has always been my business philosophy. As can be expected, our team has invested a significant amount in DNotes, the currency.  If that is all we needed to do, we will not be much different than the other altcoins. We have also invested a significant amount in our ecosystem, but alone with a huge amount of efforts and other resources. We know that this is what sets DNotes apart from the others and given sufficient time it  will make it difficult for others to replicate what we have accomplished. It is also the best path to building a trusted brand and the best strategy to gain acceptance of DNotes as a medium of exchange.

We know for a fact that small business owners, including women small business owners, are struggling. Many employees have also been struggling along side with them and many of them have not seen a pay raise for years. Yet quitting is often not an option, because there are very few jobs available. We also know that majority of new businesses failed during the first years in business. New business formations are dropping from over 500,000 to 400,000 against 470,000 in closings. Only about 10% of business school students are thinking of starting their own business upon graduation, significantly lower than what I remember when I graduated with my MBA. I started my first business upon graduation.

These are all very interesting dynamics. My book is being written to help provide some relief. I am very passionate about helping small business owners and there is a great fit in what DNotes has been doing, including CRISP For Retirement, CRISP For Employee Incentive Benefits and the best path to adaption of DNotes as a medium of exchange.

What else is significant? The book is our first revenue producing project of the new company. Although not finalized it could be offered along with a subscription site, along with many partners offering a whole array of business services.

We believe in offering things of substance to create a useful purpose for DNotes. This is very different than the prevailing mind-set of our industry. I don't expect everyone to agree with our approach and strategies but that is always the case and that may be a good way to explain the current correction of DNotes price.  People always re-evaluate their investment and adjust their position from time to time. When a new trend developed, many just follow, often without knowing why. That is the dynamics of  free market investing.

I am almost as excited about the subscription site as I am the book. I envision additional content for small business and entrepreneurs, working with professional consultants who share the same enthusiasm for helping small business to offer help and services. It can start small and be scaled very quickly with lots of synergies with our existing products and platforms. Doing a bit of research on it now.

[Chase]

" . . . A good majority of Bitcoin based businesses have come and gone, the fewer of these fly by night operations DNotes is associated with the better. By biding time, DNotes can pick and choose which businesses to team up with . . . "

Ahh! IndiaMikeZulu, those goofy P2P guys! In-community merchant-network development, as the first block in the wall, has been our call for . . . ummm . . . 30 months.* Every Dnotes person who has a business, every Dnotes person who can get hold of some wholesale digital goods, every Dnotes person (in a particular nation) who wants to tackle selling 10-oz silver bars for Dnotes, can sell those goods and products in-community.

Do it!

*Although we only actually managed proof of concept, Ian and I were running 'Yacoin Australia' in 2013. We offered Yacoin (in 'packets') for $AU -- making Yacoin at that time only the third crypto to ever be sold for two different fiat currencies -- and bars of silver for Yacoin.

Mark (IndiaMikeZulu), Australia

It is a good idea to develop a relationship with those who are currently involved in gold and silver. I have a few LinkedIn connections I might approach when I have a little more time.

Finishing the first draft of my book is currently my highest priority. It may not be easy to understand why it is so important.

"We do things others won't do, so that one day we can do things others can't do" That has always been my business philosophy. As can be expected, our team has invested a significant amount in DNotes, the currency.  If that is all we needed to do, we will not be much different than the other altcoins. We have also invested a significant amount in our ecosystem, but alone with a huge amount of efforts and other resources. We know that this is what sets DNotes apart from the others and given sufficient time it  will make it difficult for others to replicate what we have accomplished. It is also the best path to building a trusted brand and the best strategy to gain acceptance of DNotes as a medium of exchange.

We know for a fact that small business owners, including women small business owners, are struggling. Many employees have also been struggling along side with them and many of them have not seen a pay raise for years. Yet quitting is often not an option, because there are very few jobs available. We also know that majority of new businesses failed during the first years in business. New business formations are dropping from over 500,000 to 400,000 against 470,000 in closings. Only about 10% of business school students are thinking of starting their own business upon graduation, significantly lower than what I remember when I graduated with my MBA. I started my first business upon graduation.

These are all very interesting dynamics. My book is being written to help provide some relief. I am very passionate about helping small business owners and there is a great fit in what DNotes has been doing, including CRISP For Retirement, CRISP For Employee Incentive Benefits and the best path to adaption of DNotes as a medium of exchange.

What else is significant? The book is our first revenue producing project of the new company. Although not finalized it could be offered along with a subscription site, along with many partners offering a whole array of business services.

We believe in offering things of substance to create a useful purpose for DNotes. This is very different than the prevailing mind-set of our industry. I don't expect everyone to agree with our approach and strategies but that is always the case and that may be a good way to explain the current correction of DNotes price.  People always re-evaluate their investment and adjust their position from time to time. When a new trend developed, many just follow, often without knowing why. That is the dynamics of  free market investing.

I am almost as excited about the subscription site as I am the book. I envision additional content for small business and entrepreneurs, working with professional consultants who share the same enthusiasm for helping small business to offer help and services. It can start small and be scaled very quickly with lots of synergies with our existing products and platforms. Doing a bit of research on it now.

The majority of us here understand the importance of the book, the subscription site, the CRISP programs, and every other project in the works.  We are very fortunate to have attracted (for the most part) like minded individuals who can see what Dnotes can do for the world, including the poor, the working poor, women (some of whom are moms), charities, small business, etc, etc.  Our priorites are in a different place than worrying about the price of DNotes and / or prematurely releasing the latest tech feature that will do nothing for mass adoption.

One of the greatest things about crytocurrency is the freedom it gives you.  If someone doesn't like what the community is doing to market the coin they have invested in, they are free to get off their butt and run their own marketing campaign or create whatever tech they think is necessary.  Since I have a passion for helping those less fortunate and the best way to alleviate poverty is to assist women and children, I am free to choose to spend MY time, money, and DNotes as I see fit.

Now, back to work...   

[Chase]

That is something we are working on. I recently made a CRISP video (and will be making more about DNotes and crypto in general)

https://www.youtube.com/watch?v=BsXO8ttmSxw

Also, I have a seminar coming up this weekend in New Zealand for a "Students for Liberty" conference. I am one of three invited 'non-student' speakers (I'm known among liberty circles in NZ - 'tis a small country of 4.5 million people), I am going as a representative of DNotes, and not as a board member of 'Anarkiwi' - a freedom focussed community I began 18 months ago that promotes philosophy and the benefits of a stateless society (the capacity by which I was invited). The topic is "How to make NZ more prosperous". My talk will be about the "blockchain future" and how favourable regulations to cryptocurrencies will bring capital inflows to NZ, and discuss the blockchains applications in regards to efficiency, resource allocation, regulations, professionals... etc. I will spend a significant amount of time in the presentation discussing DNotes and how a globally accepted digital currency would benefit both the world, and New Zealand. The other two non-student speakers are much more distinguished than myself, both having been leaders of the NZ 'libertarian party' - one of them was the Reserve Bank Governor Chairman for 14 years (Fed Chairman equivalent), and the other an award winning journalist who is also a Philosophy lecturer from Cambridge university. I had brunch with the RBNZ Chairman during an election campaign 4 or 5 years ago, and I look forward to meeting the philosopher in person. I think it is a good opportunity to get DNotes brand out there, we are engaging and marketing, and some of the people present will be well connected. DNotes as a team also rely on value growth to fund further projects, so we are definitely with you on the 'enormously invested' part you mentioned.

Here is me:



Don Brash - Former World Bank Economist and Reserve Bank of New Zealand Governor



Jamie Whyte - Who has a very interesting mind.




It is a start, and there is much more to come. I have requested the talks be filmed, and the organisers agreed. I have 6 more days to prepare it .

This is awesome, TeeGee.  The writeup introducing you as a speaker is excellent.  Good Luck!!

[Chase]

Interesting article on why Jamie Dimon is wrong about bitcoin.


Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

...“I think Jamie — who I’ve spoken to about this in the past — he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency, and I think where Jamie is probably less informed is around the inability for governments and banks to actually do that. In the case of Bitcoin, there’s no one to put in jail, there’s no company to shut down . . . If society decides that bitcoin is money, there’s nothing that JPMorgan, the Federal Reserve, or anybody [else] can do to stop it. But it’s still very early.”

http://insidebitcoins.com/news/barry-silbert-on-why-jamie-dimon-is-wrong-on-bitcoin/36037

[DNotes]

Interesting article on why Jamie Dimon is wrong about bitcoin.


Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

...“I think Jamie — who I’ve spoken to about this in the past — he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency, and I think where Jamie is probably less informed is around the inability for governments and banks to actually do that. In the case of Bitcoin, there’s no one to put in jail, there’s no company to shut down . . . If society decides that bitcoin is money, there’s nothing that JPMorgan, the Federal Reserve, or anybody [else] can do to stop it. But it’s still very early.”

http://insidebitcoins.com/news/barry-silbert-on-why-jamie-dimon-is-wrong-on-bitcoin/36037

I believe that is a very valid point, government is to support its people, not try to stand in the way of progress. If people decide we need digital currency, the government should support it.

[Dyna]

Interesting article on why Jamie Dimon is wrong about bitcoin.


Barry Silbert on Why Jamie Dimon is Wrong on Bitcoin

...“I think Jamie — who I’ve spoken to about this in the past — he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency, and I think where Jamie is probably less informed is around the inability for governments and banks to actually do that. In the case of Bitcoin, there’s no one to put in jail, there’s no company to shut down . . . If society decides that bitcoin is money, there’s nothing that JPMorgan, the Federal Reserve, or anybody [else] can do to stop it. But it’s still very early.”

http://insidebitcoins.com/news/barry-silbert-on-why-jamie-dimon-is-wrong-on-bitcoin/36037

I believe that is a very valid point, government is to support its people, not try to stand in the way of progress. If people decide we need digital currency, the government should support it.

"he has a view that governments around the world and central banks around the world are going to figure out a way to crack down on use of non-fiat currency"

The bankers like Jamie Dimon are not just going after Bitcoin and digital currency. They are now fighting an explosive FinTech industry that has been eating away their breakfast and lunch. His fear is that this bunch may eventually show up at his dinner table. Jamine was from Chicago. I used to like that guy and thought that he was the best banker. After listening to a few of his outrageous statements concerning Bitcoin, I have serious doubts if he has a clue what he was talking about.

The banking and financial services industries will be massively disrupted by the new financial technologies including digital currency. The smart one will finally figure out how to collaborate. We just have to stay our course and wait for our turn.

[Chase]

This is my last banking article for the day... I promise.   This is likely just scratching the surface in uncovering the ghosts hiding in big bank's closets.  They may have been deemed to big to fail, but no one is too big to jail!

I am looking forward to the day when digital currency and the blockchain can help put a stop to this corruption.


Big banks accused of interest rate-swap fixing in class action suit

NEW YORK, Nov 25 (IFR/Reuters) - A class action lawsuit, filed Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US$320 trillion market for interest rate swaps.

The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse, Barclays, BNP Paribas, UBS, Deutsche Bank, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which stocks are traded.

As a result, the lawsuit alleges, banks have successfully prevented new competition from non-banks in the lucrative market for dealing interest rate swaps, the world's most commonly traded derivative.

The banks "have been able to extract billions of dollars in monopoly rents, year after year, from the class members in this case," the lawsuit alleged.

The suit was brought by The Public School Teachers' Pension and Retirement Fund of Chicago, which purchased interest rate swaps from multiple banks to help the fund hedge against interest rate risk on debt. The plaintiffs are represented by the law firm of Quinn, Emanuel, Urquhart, & Sullivan LLP, which has taken the lead in a string of antitrust suits against banks.

As a result of the banks' collusion, the suit alleges, the Chicago teachers' pension and retirement fund overpaid for those swaps.

The suit alleged that since at least 2007 the banks "have jointly threatened, boycotted, coerced, and otherwise eliminated any entity or practice that had the potential to bring exchange trading to buyside investors."

"Defendants did this for one simple reason: to preserve an extraordinary profit center," the lawsuit said.

The banks masked their collusion by using code-names for joint projects such as "Lily", "Fusion," and "Valkyrie," according to the suit.

The suit also accused broking platforms ICAP and Tradeweb, which control key cogs in the infrastructure of the swaps market, of facilitating the antitrust violations by acting as a forum for collusion and making business decisions on the banks' behalf.

Nine of the ten defendant banks own equity stakes in Tradeweb and hold positions on the company's board and governance committees. Tradeweb is majority owned by Thomson Reuters. Thomson Reuters is not named as a defendant in the suit.

Bankers used those positions to control the direction of the Tradeweb and collectively blocked the development of more investor friendly swaps exchanges by firms such as the CME Group, TrueEX, Javelin Capital Markets, and TeraExchange, according to the suit.

"During the time period relevant here, Tradeweb board and governance committees were organised specifically for the purpose of protecting the 'dealer community' from the growth of exchange trading," reads the suit.

Similar allegations of bank collusion in the market for another type of derivative known as credit default swaps, have been the subject of investigations by the United States Department of Justice and the European Commission, as well as a separate class action lawsuit brought by investors.

In September, twelve banks and two industry groups settled that lawsuit by agreeing to pay $1.87 billion, making it one of the largest antitrust class action lawsuits in U.S. history.


http://www.reuters.com/article/2015/11/26/interestrateswaps-lawsuit-idUSL1N13K2IE20151126#4cFieTo8VWW1tuL1.97

[Faradey100]

Price drop down:(

[DNotes]

This is my last banking article for the day... I promise.   This is likely just scratching the surface in uncovering the ghosts hiding in big bank's closets.  They may have been deemed to big to fail, but no one is too big to jail!

I am looking forward to the day when digital currency and the blockchain can help put a stop to this corruption.


Big banks accused of interest rate-swap fixing in class action suit

NEW YORK, Nov 25 (IFR/Reuters) - A class action lawsuit, filed Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US$320 trillion market for interest rate swaps.

The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse, Barclays, BNP Paribas, UBS, Deutsche Bank, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which stocks are traded.

As a result, the lawsuit alleges, banks have successfully prevented new competition from non-banks in the lucrative market for dealing interest rate swaps, the world's most commonly traded derivative.

The banks "have been able to extract billions of dollars in monopoly rents, year after year, from the class members in this case," the lawsuit alleged.

The suit was brought by The Public School Teachers' Pension and Retirement Fund of Chicago, which purchased interest rate swaps from multiple banks to help the fund hedge against interest rate risk on debt. The plaintiffs are represented by the law firm of Quinn, Emanuel, Urquhart, & Sullivan LLP, which has taken the lead in a string of antitrust suits against banks.

As a result of the banks' collusion, the suit alleges, the Chicago teachers' pension and retirement fund overpaid for those swaps.

The suit alleged that since at least 2007 the banks "have jointly threatened, boycotted, coerced, and otherwise eliminated any entity or practice that had the potential to bring exchange trading to buyside investors."

"Defendants did this for one simple reason: to preserve an extraordinary profit center," the lawsuit said.

The banks masked their collusion by using code-names for joint projects such as "Lily", "Fusion," and "Valkyrie," according to the suit.

The suit also accused broking platforms ICAP and Tradeweb, which control key cogs in the infrastructure of the swaps market, of facilitating the antitrust violations by acting as a forum for collusion and making business decisions on the banks' behalf.

Nine of the ten defendant banks own equity stakes in Tradeweb and hold positions on the company's board and governance committees. Tradeweb is majority owned by Thomson Reuters. Thomson Reuters is not named as a defendant in the suit.

Bankers used those positions to control the direction of the Tradeweb and collectively blocked the development of more investor friendly swaps exchanges by firms such as the CME Group, TrueEX, Javelin Capital Markets, and TeraExchange, according to the suit.

"During the time period relevant here, Tradeweb board and governance committees were organised specifically for the purpose of protecting the 'dealer community' from the growth of exchange trading," reads the suit.

Similar allegations of bank collusion in the market for another type of derivative known as credit default swaps, have been the subject of investigations by the United States Department of Justice and the European Commission, as well as a separate class action lawsuit brought by investors.

In September, twelve banks and two industry groups settled that lawsuit by agreeing to pay $1.87 billion, making it one of the largest antitrust class action lawsuits in U.S. history.


http://www.reuters.com/article/2015/11/26/interestrateswaps-lawsuit-idUSL1N13K2IE20151126#4cFieTo8VWW1tuL1.97

Great points Chase! The more we can decentralize our money and automate the financial services through the blockchain, the less of this kind of manipulation can happen, and we will have a lot more visibility to see what is going on exactly rather than hoping someone can figure it out and take action.

[DNotes]

Price drop down:(

Eventually when we have a profitable company, where DNotes will own up to 25%, and a professionally managed fund to support the market, this will be less of an issue. As of right now, we are subject to the demand of the open market.

[wiser]

Price drop down:(

Eventually when we have a profitable company, where DNotes will own up to 25%, and a professionally managed fund to support the market, this will be less of an issue. As of right now, we are subject to the demand of the open market.

Something I've seen some other coins do is have a strategy to put consistent buying pressure on the market. Diamond is a great example. DNotes should look at that. One idea that comes to mind is that when the company launches, any kind of share dividends are paid out in DNotes. This means that whatever currency the profits are made in, be it USD or Bitcoin, those funds will be used to buy DNotes on a regular basis and then distribute them. Since the shareholders likely believe in DNotes, they might sell some back from time to time but probably won't just dump them all as soon as they get them. That will have a stabilizing effect on the market price.

The other strategy I've seen which DNotes already does very well (DNotes vault) is to take as many coins as possible off the market. Giving people incentive to lock up their coins in long term interest bearing accounts has that effect.

[RJF]

Price drop down:(

meh.. It happens, no big deal. It will be up again, and down again. It just the nature of the beast.

[DNotes]

Price drop down:(

Eventually when we have a profitable company, where DNotes will own up to 25%, and a professionally managed fund to support the market, this will be less of an issue. As of right now, we are subject to the demand of the open market.

Something I've seen some other coins do is have a strategy to put consistent buying pressure on the market. Diamond is a great example. DNotes should look at that. One idea that comes to mind is that when the company launches, any kind of share dividends are paid out in DNotes. This means that whatever currency the profits are made in, be it USD or Bitcoin, those funds will be used to buy DNotes on a regular basis and then distribute them. Since the shareholders likely believe in DNotes, they might sell some back from time to time but probably won't just dump them all as soon as they get them. That will have a stabilizing effect on the market price.

The other strategy I've seen which DNotes already does very well (DNotes vault) is to take as many coins as possible off the market. Giving people incentive to lock up their coins in long term interest bearing accounts has that effect.

Thank you Wiser, I haven't looked yet closely at what Diamond has done, but I certainly will.

[DNotes]

Here is a bit of a fun article we decided on for DCEBrief. Look forward to your comments on this type of article.

http://dcebrief.com/top-8-bitcoin-apps-for-iphone/

[kanus1113]

Here is a bit of a fun article we decided on for DCEBrief. Look forward to your comments on this type of article.

http://dcebrief.com/top-8-bitcoin-apps-for-iphone/

It's unique content and seems like it would draw some interest and bring new faces to DCEBrief.

Looks like dcebrief traffic is still growing, that's a good sign. 550k global and 140k in the US.

http://www.alexa.com/siteinfo/dcebrief.com#trafficstats

[DNotes]

It's unique content and seems like it would draw some interest and bring new faces to DCEBrief.

Looks like dcebrief traffic is still growing, that's a good sign. 550k global and 140k in the US.

http://www.alexa.com/siteinfo/dcebrief.com#trafficstats

Thanks kanus, appreciate the feedback. It might be good if we look at the traffic for this article after a couple days and see how well it performed.

[Dyna]

Quote from: indiamikezulu on Today at 12:09:47 AM

Morning, Shepherd.

What I think's going on here is that banks have convinced themselves that their position, as managers of government currency, has made them integral to government, and therefore immune to the conventional laws of commerce. Certainly banks in Australia don't see themselves as responsible to the public.

Mark (IndiaMikeZulu), Australia

Quote From Shepherd Today:

Mark, you are correct. That is one of the reasons I am personally totally committed to help build DNotes as the trusted global currency for everyone to participate. It has to be done in a large scale and must be built with a solid foundation so that it can survive the test of time.

Additionally, it must also be a currency with a purpose, conveniently available as a vehicle for those who believe in contributing, in ways and means they could, towards the betterment of humanities.