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

[Dyna]

Hello all!

I'm back to life again, just completed my last exam for the semester... albeit alive on one and a half hours sleep.

Now I can begin the projects I've wanted to get onto these last few weeks (after some sleep). I think a separate informational page in either a blog style, or one that has a link to a google drive document (read only) that certain forum members have editing privileges could be a great way for people that work in regulation related fields to have a gander at.

It would be correct in my view, to focus on making ascertaining DNotes as simple as possible in any form- whether that be from dollars or from other crypto. It's really cool that wiser wrote a crypto guide on how to buy crypto, perhaps we should throw that link in the sticky.

Off to bed.

- TeeGee

That's excellent TeeGee!

Google drive is a great option. Thinking through it a bit more with that in mind, I think it would be better presented and received in a website format and we would likely use Google drive for the source content and collaboration.

That idea is even better. A drive document could be used where regulators, lawyers and related professionals can come and give their views, and somebody from the DNotes team can elucidate the content for a web page the general public can read. The content might come in useful for a regulation section for industry professionals in the introduction to crypto handbook.

Hello all!

I'm back to life again, just completed my last exam for the semester... albeit alive on one and a half hours sleep.

Now I can begin the projects I've wanted to get onto these last few weeks (after some sleep). I think a separate informational page in either a blog style, or one that has a link to a google drive document (read only) that certain forum members have editing privileges could be a great way for people that work in regulation related fields to have a gander at.

It would be correct in my view, to focus on making ascertaining DNotes as simple as possible in any form- whether that be from dollars or from other crypto. It's really cool that wiser wrote a crypto guide on how to buy crypto, perhaps we should throw that link in the sticky.

Off to bed.

- TeeGee

TeeGee, you are amazing. You reminded me of my college days. I went to school full time with overload (two extra courses or total of 24 credit hours verses a full load of 16 credit hours), worked a full time job, watched our first child while my wife went to work. When my final exam was over I picked up the news paper and my brain refused to even read the headline on the front page. I felt like I had to sleep for a week. Have a good sleep, TeeGee. We will see you in a few days.

It doesn't surprise me one bit that you did all that concurrently. The hard work people like you do, is the reason that projects like DNotes succeed. I'm sure you may have heard about the 10,000 hour 'rule' that some people speak about. Somebody put 10,000 as the number of hours needed doing something until somebody can become a 'master' of it. I applaud the trend of young people being behind many / most  crypto businesses and the success their ideas have brought them (The etherium founder was what? 17 when he came up with the idea!?). However, I highly doubt that many people controlling crypto businesses and/or currencies come remotely close to meeting 10,000 hours experience in business, let alone 10,000 hours experience in crypto / developing a digital currency. You have stated that you learned of crypto in late 2013, but given how many hours you fit into the day, I'm willing to bet you already have thousands of hours of knowledge behind you - more than most who were actively involved from just after Bitcoins inception in 2009. When it comes to the business experience side, you already have some four decades of it, and much of that is in the technology / computing industry. The other founders also have decades of business experience. All you needed to do was learn about crypto and apply your business acumen to it. This is in stark contrast to most people who release a Digital Currency, who tend to have zero (feel free to name me some that do). This is a major competitive advantage that DNotes has, and DNotes should and has created this point of difference effectively. It is the reason DNotes is being represented at NASDAQ, while other crypto that currently have higher market caps are not.

Thanks, TeeGee. I will admit that I always worked very hard in whatever I am committed to do and I am a firm believer that gaining the "Master" knowledge of the trade of the industry one is involved in is a huge competitive advantage. I have been in communication with a lot "industry knowledgeable" people this week mostly because of my earlier presentation at NASDAQ. With due respect, I am concerned that there is a serious lacking of knowledge on many critical issues or problems confronting our industry.

Here are my basis rules in problem solving. 1) If you do not know the problem you can not solve the problem. 2) You can not solve the problem you are not committed to solve. I can go on but I am sure you got the point. 

Most people of power and wealth do not spend much time out side if issues they they are not intimately involved in. DNotes and CryptoMoms have developed a massive amount of rich contents that anyone who care to read every word of it could pass the "Master" level test. In reality, that is not going to happen. Our community, must come together soon to develop a site where "Executive Summary" on many important issues are available at a glance for interested parties. 

[Dyna]

Perhaps it pays to wait...

New York Releases 31-Page BitLicense Application Form

The New York State Department of Financial Services (NYDFS) has released the application forms that Bitcoin companies in the state must complete by August 8 in order to register their businesses.

The BitLicense was formally adopted earlier this week through publication in the New York State Register. All Bitcoin firms must now complete the 31-page application form and pay a non-refundable US$5,000 application fee in order to continue operating.

Jesse Powell, co-founder and CEO of Kraken, said heavy compliance costs on digital currency exchanges made it more difficult to operate profitable exchanges. He continued:

“Many fear it will stifle innovation in the industry and exclude New York from the developing currency.”
-Jesse Powell, co-founder and CEO of Kraken

The final revisions to the New York State regulatory program on digital currencies were released earlier this month by the superintendent of financial services for the NYDFS Ben Lawsky, with minor updates to improve functionality and make state regulators’ roles more clear.

Following its official adoption, the application form was released yesterday for Bitcoin companies to fill out. Aside from basic company information, it asks applicants to list all jurisdictions where they have licenses, or have applied for them, as well as indicate whether they have ever been the subject of regulatory or enforcement action in any jurisdiction.

Companies must provide copies of all insurance policies, as well as biographical information on all company directors and stockholders. They must also provide an organization chart of the company’s management structure, along with “an explanation of the methodology used to calculate the value of virtual currency in fiat currency.”

Applicants must also provide an investigative background report prepared by an independent investigatory agency for each individual applicant, including information such as credit history, employment history, and motor vehicle ownership history. Three personal references from non-relatives are required for all applicants.

The BitLicense has prove controversial, with Eobot last week becoming the third firm to exit the state as a result of the new regulations. Though Lawsky has said regulators “need to realize their own limitations; recognize what they do not know, and keep an open mind when approaching new technologies,” many have criticized the scope of the regulations.

Users on Reddit reacted sarcastically to the length of the application form, with cointastical saying:

“Thank you, Mr. Lawsky, for regulating this industry!!! Might you, by chance, know anyone who can help me comprehend the 31 pages of this document, complete the application, and then comply with the requirements? Yourself, perhaps?”

Another user assumed Lawsky’s name, replying to the above message with: “I worked tirelessly on the BitLicense, only taking big companies with deep pockets advice, so that I could come up with a complex process only my consulting firm will be able to help you with.”

Source: http://cointelegraph.com/news/114681/new-york-releases-31-page-bitlicense-application-form

New York State Department of Financial Services (NYDFS) gets 1st prize in the category of "How Not To Do It!"  Really, a 31 page application form??  I groan if something has 2 pages - lol.  I did enjoy the Reddit comments and even though they were meant to be funny, they sure have a lot of truth in them.

Chase, I share your frustrations. This is a major setback, especially if other states follow the same path.

[wiser]

Thanks, TeeGee. I will admit that I always worked very hard in whatever I am committed to do and I am a firm believer that gaining the "Master" knowledge of the trade of the industry one is involved in is a huge competitive advantage. I have been in communication with a lot "industry knowledgeable" people this week mostly because of my earlier presentation at NASDAQ. With due respect, I am concerned that there is a serious lacking of knowledge on many critical issues or problems confronting our industry.

Here are my basis rules in problem solving. 1) If you do not know the problem you can not solve the problem. 2) You can not solve the problem you are not committed to solve. I can go on but I am sure you got the point. 

Most people of power and wealth do not spend much time out side if issues they they are not intimately involved in. DNotes and CryptoMoms have developed a massive amount of rich contents that anyone who care to read every word of it could pass the "Master" level test. In reality, that is not going to happen. Our community, must come together soon to develop a site where "Executive Summary" on many important issues are available at a glance for interested parties. 

I agree with you there is a major knowledge vacuum among people who have the power to influence. I'm small potatoes and I know more than most, which can be scary.

I've been busy but I'm happy to write content for the educational site that's developed. That can be my contribution. But yes, we have to take the lead in educating, for sure.

Gotta run pick up my kiddos from camp!

[DNotes]

Thanks, TeeGee. I will admit that I always worked very hard in whatever I am committed to do and I am a firm believer that gaining the "Master" knowledge of the trade of the industry one is involved in is a huge competitive advantage. I have been in communication with a lot "industry knowledgeable" people this week mostly because of my earlier presentation at NASDAQ. With due respect, I am concerned that there is a serious lacking of knowledge on many critical issues or problems confronting our industry.

Here are my basis rules in problem solving. 1) If you do not know the problem you can not solve the problem. 2) You can not solve the problem you are not committed to solve. I can go on but I am sure you got the point. 

Most people of power and wealth do not spend much time out side if issues they they are not intimately involved in. DNotes and CryptoMoms have developed a massive amount of rich contents that anyone who care to read every word of it could pass the "Master" level test. In reality, that is not going to happen. Our community, must come together soon to develop a site where "Executive Summary" on many important issues are available at a glance for interested parties. 

I agree with you there is a major knowledge vacuum among people who have the power to influence. I'm small potatoes and I know more than most, which can be scary.

I've been busy but I'm happy to write content for the educational site that's developed. That can be my contribution. But yes, we have to take the lead in educating, for sure.

Gotta run pick up my kiddos from camp!

Thanks for the offer Wiser, we will certainly let know you.

[RJF]

Thanks, TeeGee. I will admit that I always worked very hard in whatever I am committed to do and I am a firm believer that gaining the "Master" knowledge of the trade of the industry one is involved in is a huge competitive advantage. I have been in communication with a lot "industry knowledgeable" people this week mostly because of my earlier presentation at NASDAQ. With due respect, I am concerned that there is a serious lacking of knowledge on many critical issues or problems confronting our industry.

Here are my basis rules in problem solving. 1) If you do not know the problem you can not solve the problem. 2) You can not solve the problem you are not committed to solve. I can go on but I am sure you got the point.  

Most people of power and wealth do not spend much time out side if issues they they are not intimately involved in. DNotes and CryptoMoms have developed a massive amount of rich contents that anyone who care to read every word of it could pass the "Master" level test. In reality, that is not going to happen. Our community, must come together soon to develop a site where "Executive Summary" on many important issues are available at a glance for interested parties.  

I agree with you there is a major knowledge vacuum among people who have the power to influence. I'm small potatoes and I know more than most, which can be scary.

I've been busy but I'm happy to write content for the educational site that's developed. That can be my contribution. But yes, we have to take the lead in educating, for sure.

Gotta run pick up my kiddos from camp!

Thanks for the offer Wiser, we will certainly let know you.

Soap box mode on...

The New York State law is, at best, a huge stumbling block and, at worst a bar to entry for small business. What we knew would happen is already being acted out, crypto businesses are leaving New York State or, simple stating they will not do business with residents of New York State (as well as other states such as Wyoming)

This misguided attempt to control the industry in the name of "protecting citizens" is nothing short of criminal on the part of the states who take this path. Only large established companies will be able to "pay to play". At issue here is not the $5000.00 USD fee to apply but the uncounted thousands to provide the needed paperwork, research, legal work and downright time wasted in completing the so called "application"

And in the case of New York, Lawski opening a law office to charge people to "help" them file the application he created is absolutely criminal! Doesn't anyone see that? Are people so desensitized they can't draw the simple conclusion that Lawski had this planned all along?

It's so frustrating to watch all this unfold without so much as a whimper (well, MAYBE a whimper) from industry groups and illuminati that could be putting pressure on these lawmakers to create fair and reasonable legislation. If it takes every crypto company to say "sorry, we don't service New York State" then so be it. Sooner or later, the problem will be addressed. It's shame it has to be this way but we all need to fight back. It doesn't do any good to accept this from New York as there will be no motive for other states to rethink following the bad example. And yes, I do realize there was a comment period and suggestions were considered but, again, they were considered by a man who had his future planned out already and was dependent on a complicated and expensive "permit" process to enrich himself after the fact.

Soap box mode off...
 

[DNotes]

There will be a new website for DNotes, catering to investors and executives. The DNotesCoin.com site will continue as a user based site (tech specs, links to resources, downloads, mining, ect), and we will eventually upgrade the design as well as make it more friendly for DNotes users.

The focus of the new site will be executive summaries of DNotes mission and efforts and a gateway for our relationship with government and regulation (including regulatory recommendations). This will allow us to point readers directly to the information they need in a quick and easy to digest format.

It will be blog style and include other points of interest like press releases and bio's.

We need your feedback and recommendations!

What are the most important topics we need to cover?
Examples: DNotes regulation recommendations, DNotes general executive summary, Plans for the future of DNotes, etc

What features should the site have?
Examples: Meet the team, Press releases, News feed, Alan's corner, DNotes projects, etc



If you can voice your opinion on what would be the most important, it will help us to decide how to build the site without cluttering it. Even if someone has already mentioned something, if you feel strongly that it needs to be added or even excluded, please let us know.

[Chase]

There will be a new website for DNotes, catering to investors and executives. The DNotesCoin.com site will continue as a user based site (tech specs, links to resources, downloads, mining, ect), and we will eventually upgrade the design as well as make it more friendly for DNotes users.

The focus of the new site will be executive summaries of DNotes mission and efforts and a gateway for our relationship with government and regulation (including regulatory recommendations). This will allow us to point readers directly to the information they need in a quick and easy to digest format.

It will be blog style and include other points of interest like press releases and bio's.

We need your feedback and recommendations!

What are the most important topics we need to cover?
Examples: DNotes regulation recommendations, DNotes general executive summary, Plans for the future of DNotes, etc

What features should the site have?
Examples: Meet the team, Press releases, News feed, Alan's corner, DNotes projects, etc



If you can voice your opinion on what would be the most important, it will help us to decide how to build the site without cluttering it. Even if someone has already mentioned something, if you feel strongly that it needs to be added or even excluded, please let us know.

I think all of the above examples are great.  Something that could be covered, perhaps in a blog post would be the 'actions and consequences of good or bad regulation'.  For example:

Government support for digital currency = job growth and economic prosperity
5 year grace period =
New York style regulations =
etc.

Is this the place to cover things that concern the government like anonymity and tax evasion?

[RJF]

There will be a new website for DNotes, catering to investors and executives. The DNotesCoin.com site will continue as a user based site (tech specs, links to resources, downloads, mining, ect), and we will eventually upgrade the design as well as make it more friendly for DNotes users.

The focus of the new site will be executive summaries of DNotes mission and efforts and a gateway for our relationship with government and regulation (including regulatory recommendations). This will allow us to point readers directly to the information they need in a quick and easy to digest format.

It will be blog style and include other points of interest like press releases and bio's.

We need your feedback and recommendations!

What are the most important topics we need to cover?
Examples: DNotes regulation recommendations, DNotes general executive summary, Plans for the future of DNotes, etc

What features should the site have?
Examples: Meet the team, Press releases, News feed, Alan's corner, DNotes projects, etc

If you can voice your opinion on what would be the most important, it will help us to decide how to build the site without cluttering it. Even if someone has already mentioned something, if you feel strongly that it needs to be added or even excluded, please let us know.

For starters, all the things you mention above plus a concise history of DNotes focused on professional development and mission. Also, a writeup on DNotes differences from Bitcoin and why these are important in a commercial usage environment.

And, I would love to see some quotes from known industry names about DNotes. Don't know if these exist yet or not but would nice...

I'm sure I will think of more.... 

[Dyna]

There will be a new website for DNotes, catering to investors and executives. The DNotesCoin.com site will continue as a user based site (tech specs, links to resources, downloads, mining, ect), and we will eventually upgrade the design as well as make it more friendly for DNotes users.

The focus of the new site will be executive summaries of DNotes mission and efforts and a gateway for our relationship with government and regulation (including regulatory recommendations). This will allow us to point readers directly to the information they need in a quick and easy to digest format.

It will be blog style and include other points of interest like press releases and bio's.

We need your feedback and recommendations!

What are the most important topics we need to cover?
Examples: DNotes regulation recommendations, DNotes general executive summary, Plans for the future of DNotes, etc

What features should the site have?
Examples: Meet the team, Press releases, News feed, Alan's corner, DNotes projects, etc

If you can voice your opinion on what would be the most important, it will help us to decide how to build the site without cluttering it. Even if someone has already mentioned something, if you feel strongly that it needs to be added or even excluded, please let us know.

For starters, all the things you mention above plus a concise history of DNotes focused on professional development and mission. Also, a writeup on DNotes differences from Bitcoin and why these are important in a commercial usage environment.

And, I would love to see some quotes from known industry names about DNotes. Don't know if these exist yet or not but would nice...

I'm sure I will think of more.... 

There isn't a more important time for our community and our industry to come up with positive recommendations. We have not define our mission statement yet. Personally I like this site to be positive, concise, educational, and neutral. Like CryptoMoms, there will be a slight bias towards DNotes. It will be moderated and the contents must be approved by a team from our community. Our industry needs help. Let's us see what we can do.

We have a family dinner today. I will be posting more comments this evening.

[wiser]

I'm quoting what I wrote earlier on the subject of recommendations for regulation. The very brief summary is that I would recommend a regulatory licensing system where the main goal is to inform consumers of potential risks but to not prevent them from taking those risks. To put it even more bluntly, the goal should be to as far as possible assure the customer that what he is buying is what he thinks he is buying. Again, all I need to do is reference the GAW fiasco for people inside the industry to know what I mean, as theirs was a situation in which this customer thought she was buying one thing but she actually bought a different thing altogether, and then that different thing changed twice before it finally died.

EDIT: Yet another way to summarize my recommendation is that the hand of regulation should be heavy when it comes to preventing outright fraud or even "misleading with the best of intentions." However, as long as a level of truth (transparency) is established, then consumers need to be free to make their own choices concerning what levels of risk they are willing to take on. For example, I believe there is a rule that in order to be a venture capitalist you have to already own a certain amount of money/assets, something like over a million dollars. Why? There is no reason why I as a person of moderate means shouldn't be allowed to be an angel for my neighbor's cake decorating venture (which may only require a thousand or two in start up costs). But I would be very disappointed if I fronted the money for it and then found out later it was actually a basket weaving business (even a very good basket weaving business). Bottom line: I want the government to help people not lie to me and then I want it to leave me alone to make my financial choices.

With the news and talk about regulation going on recently, I believe it may be a good idea if we voice our opinion on what favorable and fair regulation would look like from our standpoint. Many of us know the industry pretty well and understand what the major risk factors are for consumer security with digital currency.

In your own opinion, what would you consider fair regulation to protect consumers without hindering advancement?

I'm not an expert, but here's how I would approach it.

1. Set up a set of standards related to website security, amount of funds backing up user accounts, insurance coverage (if there ever is such a thing), and various other reasonable precautions that large sites which hold user funds should be taking.
2. Next, set up a grading system of some sort. So an A rated company adheres to the strictest standards, whereas a C or D rated company adheres to more lenient standards.
3. The conditions which must be met for each grade are clearly and publicly posted so everyone knows.
4. Companies can post their grade based on what standards they are following. Potential users see it and can make an informed decision based on their own risk tolerance. Some consumers may choose to only deal with A and B companies. Others may be fine with doing some business with C and D companies.
5. Adhering to these standards is completely voluntary. No one forces any business to meet those standards. However, if they don't meet them, they don't get to advertise themselves as an A rated company. They may lose a lot of potential customers but most likely save on their up front costs. Companies can at any time "upgrade" to a higher grade by meeting that grade level's standards.
6. Standards would be determined by some sort of group of knowledgeable industry leaders and whoever else might make up these types of groups.
7. There is some sort of neutral auditing group whose job it is to review companies and determine which standards they are meeting and issue them their "grade." This auditing group also posts all participating companies and their grades on a website that anyone can read, so that companies claiming to have a certain grade can be checked against the auditing group's list. That site could also be educational about what the standards mean and why they are important, and can also warn people about certain types of sites which are plain never going to make the grade and why (Bitcoin doublers, for example).
8. Everything is done as transparently as possible.
9. A company that uses other companies (for example a retail site that has a 3rd party payment gateway) should have a page where all their third parties and their grades are posted as well.

The bottom line is that in my opinion, the kind of "regulation" that really serves the public is standardization which makes it very clear how a service measures up in terms of various conditions the general public would or should care about. A service can either make the grade or not but it has the right to exist and conduct business regardless. But the company making the grade is likely to attract more customers.

I'm not a huge fan of companies being "forced" to make a certain standardization grade, because I believe that potential customers have the right and ability to make an informed decision. I do believe that such criteria should be well known and it should be very transparent how grades are determined and given out and then the public decides which companies to patronize based on those grades. Basically, the government or some kind of regulatory body can really help everyone by setting and enforcing standards (or at least overseeing that process), and making it clear how businesses measure up. But then leave the choice to the consumer. Maybe I will only trade on an A rated exchange but someone else might be fine with a B rated exchange because the fees are lower. Startup businesses should have the freedom to exist and gradually "level up" on their grades so as not to be priced out of even starting. They would have to work harder to earn their customers' trust but at least they could be conducting business while raising funds to meet various criteria. A reputable online business is going to voluntarily take certain precautions to make sure their customers' accounts and funds are as secure as possible, but probably won't be able to start off using the absolute most state of the art security systems. That should be fine as long as what they do have (and don't have) is clearly disclosed, or at least what grade they have.

[IMZ]

Important stuff?

info about degree, type (and cost?) of tech-support available to newcomers: 'go-to-whoa mentoring'

[In different geographical areas, committed Dnoters might go to a business that has put its hand up; introduce themselves; and go from there. In 2013, the Franko's dev managed to have the Franko officially accepted by a Washington Chamber of Commerce. Outcome? The project never got off the ground because (apart from me trying to do it by email from Western Australia . . . ) the community didn't lift a physical or digital finger to advance the initiative.]

Mark (IndiaMikeZulu), Australia

[Dyna]

Important stuff?

info about degree, type (and cost?) of tech-support available to newcomers: 'go-to-whoa mentoring'

[In different geographical areas, committed Dnoters might go to a business that has put its hand up; introduce themselves; and go from there. In 2013, the Franko's dev managed to have the Franko officially accepted by a Washington Chamber of Commerce. Outcome? The project never got off the ground because (apart from me trying to do it by email from Western Australia . . . ) the community didn't lift a physical or digital finger to advance the initiative.]

Mark (IndiaMikeZulu), Australia

Thanks, Mark. That is a good case history. Let us take our time to think through it. There are always exciting ideas. By themselves, they are worthless; and when they are poorly executed they could be very costly or a burden to someone.

We need to have our mission very well defined, along with goals and objectives. It's getting late, but we should keep the discussion going.

[Dyna]

I'm quoting what I wrote earlier on the subject of recommendations for regulation. The very brief summary is that I would recommend a regulatory licensing system where the main goal is to inform consumers of potential risks but to not prevent them from taking those risks. To put it even more bluntly, the goal should be to as far as possible assure the customer that what he is buying is what he thinks he is buying. Again, all I need to do is reference the GAW fiasco for people inside the industry to know what I mean, as theirs was a situation in which this customer thought she was buying one thing but she actually bought a different thing altogether, and then that different thing changed twice before it finally died.

EDIT: Yet another way to summarize my recommendation is that the hand of regulation should be heavy when it comes to preventing outright fraud or even "misleading with the best of intentions." However, as long as a level of truth (transparency) is established, then consumers need to be free to make their own choices concerning what levels of risk they are willing to take on. For example, I believe there is a rule that in order to be a venture capitalist you have to already own a certain amount of money/assets, something like over a million dollars. Why? There is no reason why I as a person of moderate means shouldn't be allowed to be an angel for my neighbor's cake decorating venture (which may only require a thousand or two in start up costs). But I would be very disappointed if I fronted the money for it and then found out later it was actually a basket weaving business (even a very good basket weaving business). Bottom line: I want the government to help people not lie to me and then I want it to leave me alone to make my financial choices.

With the news and talk about regulation going on recently, I believe it may be a good idea if we voice our opinion on what favorable and fair regulation would look like from our standpoint. Many of us know the industry pretty well and understand what the major risk factors are for consumer security with digital currency.

In your own opinion, what would you consider fair regulation to protect consumers without hindering advancement?

I'm not an expert, but here's how I would approach it.

1. Set up a set of standards related to website security, amount of funds backing up user accounts, insurance coverage (if there ever is such a thing), and various other reasonable precautions that large sites which hold user funds should be taking.
2. Next, set up a grading system of some sort. So an A rated company adheres to the strictest standards, whereas a C or D rated company adheres to more lenient standards.
3. The conditions which must be met for each grade are clearly and publicly posted so everyone knows.
4. Companies can post their grade based on what standards they are following. Potential users see it and can make an informed decision based on their own risk tolerance. Some consumers may choose to only deal with A and B companies. Others may be fine with doing some business with C and D companies.
5. Adhering to these standards is completely voluntary. No one forces any business to meet those standards. However, if they don't meet them, they don't get to advertise themselves as an A rated company. They may lose a lot of potential customers but most likely save on their up front costs. Companies can at any time "upgrade" to a higher grade by meeting that grade level's standards.
6. Standards would be determined by some sort of group of knowledgeable industry leaders and whoever else might make up these types of groups.
7. There is some sort of neutral auditing group whose job it is to review companies and determine which standards they are meeting and issue them their "grade." This auditing group also posts all participating companies and their grades on a website that anyone can read, so that companies claiming to have a certain grade can be checked against the auditing group's list. That site could also be educational about what the standards mean and why they are important, and can also warn people about certain types of sites which are plain never going to make the grade and why (Bitcoin doublers, for example).
8. Everything is done as transparently as possible.
9. A company that uses other companies (for example a retail site that has a 3rd party payment gateway) should have a page where all their third parties and their grades are posted as well.

The bottom line is that in my opinion, the kind of "regulation" that really serves the public is standardization which makes it very clear how a service measures up in terms of various conditions the general public would or should care about. A service can either make the grade or not but it has the right to exist and conduct business regardless. But the company making the grade is likely to attract more customers.

I'm not a huge fan of companies being "forced" to make a certain standardization grade, because I believe that potential customers have the right and ability to make an informed decision. I do believe that such criteria should be well known and it should be very transparent how grades are determined and given out and then the public decides which companies to patronize based on those grades. Basically, the government or some kind of regulatory body can really help everyone by setting and enforcing standards (or at least overseeing that process), and making it clear how businesses measure up. But then leave the choice to the consumer. Maybe I will only trade on an A rated exchange but someone else might be fine with a B rated exchange because the fees are lower. Startup businesses should have the freedom to exist and gradually "level up" on their grades so as not to be priced out of even starting. They would have to work harder to earn their customers' trust but at least they could be conducting business while raising funds to meet various criteria. A reputable online business is going to voluntarily take certain precautions to make sure their customers' accounts and funds are as secure as possible, but probably won't be able to start off using the absolute most state of the art security systems. That should be fine as long as what they do have (and don't have) is clearly disclosed, or at least what grade they have.

Wiser, those are very good opinion worthy for our political to know or be reminded of. It is fair to say that most of our political leaders know very little about Bitcoin and digital currency but being politicians my bet is that they all have their opinion. We need to understand that often they don't know much and even don't want to know. How can we provide a medium to make it real easy for them, through "executive briefs" or combination of different formats to know what matters.

[wiser]

Wiser, those are very good opinion worthy for our political to know or be reminded of. It is fair to say that most of our political leaders know very little about Bitcoin and digital currency but being politicians my bet is that they all have their opinion. We need to understand that often they don't know much and even don't want to know. How can we provide a medium to make it real easy for them, through "executive briefs" or combination of different formats to know what matters.

I can answer this in a very limited sense, only considering the content itself.

A lot of times, in my experience, decision makers of various kinds at least initially want to know the bottom line. That would be the idea, recommendation, or request diffused to its most simple form. It would be one or two sentences which just "tell it like it is." The bottom line does not get bogged down with explanations, proofs, and details.

If the bottom line is all a decision maker needs to know (i.e., he has full confidence in the information he's getting from this source), then anything more is burdensome.

But if he wants to know more, then the source has to be prepared with those explanations, proofs, details, reasons, etc.

So let's say we have a website that's going to be informative to politicians (decision makers).

I would have the website set up in several layers. The first layer (the top layer) that they will see the most readily is going to be that bottom line. One or two simple and well crafted sentences which tell it like it is.

At the bottom of the page containing the bottom line, there is a link for more information. If the decision maker needs that info, he will click on it. This will take him to another page that provides a bit more information. It would not be complete information, more like the bottom line more fleshed out. Maybe there are five or six sentences that give an initial explanation of the why.

That page too will have a link for more info or more details, and that will lead to a page containing a longer version.

I'm not sure how many layers you need, but the very last layer would have all the citations, proofs, plus the most detailed explanation possible--the whitepaper as it were. There may be occasions when reading all that would be necessary but I suspect with politicians that would be pretty rare. However, that info does have to be there because they might want their staff to read it and summarize it for them (we, of course, already have, but they trust their staff, not us).

So... for example...

your bottom line statement might say something like this: DNotes is the digital currency that is best positioned for global adoption.

If a politician is already convinced that such a thing is needed that may be all he needs to know. He's coming to the site with one question: "which is the best digital currency positioned for global adoption?" He learns that it's DNotes, and voila, he's informed.

But most likely he's going to have some questions, so he'll click on the more details tab. So the next page would say something like this (in the form of bullet points): Dnotes is the most stable digital currency. DNotes has consistently appreciated in value over time. DNotes owns valuable assets (CryptoMoms, Vault, CRISPs). DNotes is easy to use.

The next layer below that would expound a bit on each of these bullet points, perhaps by showing a chart or two of how DNotes' value compares to other leading digital currencies. You would provide direct links to those assets (proof that they indeed exist and aren't just a figment of our imagination).

Below that, you might include details about the strategic plan DNotes has followed to date and a time line which would also include as much info on future plans as you're comfortable sharing. You do need some, though.

Below that, you include your detailed whitepaper complete with technical specs and citations. For example, you've mentioned how you've observed unhealthy and destructive patterns in crypto projects. Here is where you link to actual forum postings (as well as links to postings on DNotes forum which handle a similar issue in a more positive non-destructive way). But anyway, this is where all your proof is. For a lot of people, just knowing the proof exists and is available for their perusal is enough. Some will want to pore through it to make sure it actually does lead to the conclusions you say it does.

The goal of all these layers is to easily inform decision makers at exactly the level at which they want to be informed and not burdening them with more details but at the same time assuring them that those details are very accessible should they ever be needed.

[wiser]

Thanks, Mark. That is a good case history. Let us take our time to think through it. There are always exciting ideas. By themselves, they are worthless; and when they are poorly executed they could be very costly or a burden to someone.

That is so true! Poorly executed wonderful ideas can be extremely costly.

There's a place to share ideas, to be sure. But once it is decided to actually execute one, then it's necessary to think it through thoroughly--break it down into steps, then determine what kind of resources it takes to actually follow each step, then put the steps and budget into an overall plan. Then of course you have to actually do the work

[DNotes]

Revisions to the idea for the new site:

We are going to make it neutral. Still including a dedicated DNotes section but more of an industry site. It will become a DNotes asset, just like CryptoMoms and DNotesVault.  

The intent will be to help educate our industry and regulators in a meaningful way. There are a multitude of problems we can address with this site from media to regulation and the general lack of understanding of our industry. Targeting busy political leaders and business executives.

[Dyna]

Revisions to the idea for the new site:

We are going to make it neutral. Still including a dedicated DNotes section but more of an industry site. It will become a DNotes asset, just like CryptoMoms and DNotesVault.  

The intent will be to help educate our industry and regulators in a meaningful way. There are a multitude of problems we can address with this site from media to regulation and the general lack of understanding of our industry. Targeting busy political leaders and business executives.

Why do we need another site? From our prospective:

DNotes is more than just another digital currency. It is built with trust and integrity, as the next generation of money, created for everyone worldwide. We are positioned to take full advantage of the immensely innovative consensus distributed ledger of Bitcoin and the Blockchain technologies. Learning from the mistakes of our pioneer, saddled with pitfalls, we proactively identify problems with viable solutions.

We are not a follower but a trail blazer. We will create and take a different path if we must. We are about problem solving, especially large scale problems that could impede us from accomplishing our mission. We are proactive, objective, agile and decisive, yet patience and only engage and execute at the most opportune time.

So, what are the problems confronting of Industry? Please list and define ….

Isn’t DNotes just another digital currency? You got my attention. How can I find out more?  I am a busy politician, business executive ………….

[Dyna]

Wiser, those are very good opinion worthy for our political to know or be reminded of. It is fair to say that most of our political leaders know very little about Bitcoin and digital currency but being politicians my bet is that they all have their opinion. We need to understand that often they don't know much and even don't want to know. How can we provide a medium to make it real easy for them, through "executive briefs" or combination of different formats to know what matters.

I can answer this in a very limited sense, only considering the content itself.

A lot of times, in my experience, decision makers of various kinds at least initially want to know the bottom line. That would be the idea, recommendation, or request diffused to its most simple form. It would be one or two sentences which just "tell it like it is." The bottom line does not get bogged down with explanations, proofs, and details.

If the bottom line is all a decision maker needs to know (i.e., he has full confidence in the information he's getting from this source), then anything more is burdensome.

But if he wants to know more, then the source has to be prepared with those explanations, proofs, details, reasons, etc.

So let's say we have a website that's going to be informative to politicians (decision makers).

I would have the website set up in several layers. The first layer (the top layer) that they will see the most readily is going to be that bottom line. One or two simple and well crafted sentences which tell it like it is.

At the bottom of the page containing the bottom line, there is a link for more information. If the decision maker needs that info, he will click on it. This will take him to another page that provides a bit more information. It would not be complete information, more like the bottom line more fleshed out. Maybe there are five or six sentences that give an initial explanation of the why.

That page too will have a link for more info or more details, and that will lead to a page containing a longer version.

I'm not sure how many layers you need, but the very last layer would have all the citations, proofs, plus the most detailed explanation possible--the whitepaper as it were. There may be occasions when reading all that would be necessary but I suspect with politicians that would be pretty rare. However, that info does have to be there because they might want their staff to read it and summarize it for them (we, of course, already have, but they trust their staff, not us).

So... for example...

your bottom line statement might say something like this: DNotes is the digital currency that is best positioned for global adoption.

If a politician is already convinced that such a thing is needed that may be all he needs to know. He's coming to the site with one question: "which is the best digital currency positioned for global adoption?" He learns that it's DNotes, and voila, he's informed.

But most likely he's going to have some questions, so he'll click on the more details tab. So the next page would say something like this (in the form of bullet points): Dnotes is the most stable digital currency. DNotes has consistently appreciated in value over time. DNotes owns valuable assets (CryptoMoms, Vault, CRISPs). DNotes is easy to use.

The next layer below that would expound a bit on each of these bullet points, perhaps by showing a chart or two of how DNotes' value compares to other leading digital currencies. You would provide direct links to those assets (proof that they indeed exist and aren't just a figment of our imagination).

Below that, you might include details about the strategic plan DNotes has followed to date and a time line which would also include as much info on future plans as you're comfortable sharing. You do need some, though.

Below that, you include your detailed whitepaper complete with technical specs and citations. For example, you've mentioned how you've observed unhealthy and destructive patterns in crypto projects. Here is where you link to actual forum postings (as well as links to postings on DNotes forum which handle a similar issue in a more positive non-destructive way). But anyway, this is where all your proof is. For a lot of people, just knowing the proof exists and is available for their perusal is enough. Some will want to pore through it to make sure it actually does lead to the conclusions you say it does.

The goal of all these layers is to easily inform decision makers at exactly the level at which they want to be informed and not burdening them with more details but at the same time assuring them that those details are very accessible should they ever be needed.

Wiser you are on the wright track. I envision that we use "Executive Summary" on hard hitting points with links. Those articles could be our own, that are published and new ones to be written. It will also include other published article on subject matters we feel important and appropriate. We can also interview others.

[Chase]

Some of the problems confronting the industry would be what is listed in "What major obstacles does DNotes face to achieve success?"  Maybe we should continue with this post. 

What technologies are most important to the future and success of DNotes?

1 ) An easy to use merchant payment verification system that doesn't require a third party
2 ) Cloud storage of the blockchain. Wallets sync with cloud instantly and no lag time at startup. This is a centralized item, however, but would be of great benefit. Instant syncing, instant sending, etc.
3 ) Versatile tipping program for various websites and social media outlets
4 ) POS style reward system
5 ) Making DNotes secure for everyone to use no matter their situation
6 ) Instant exchange functionality for the DNotesVault
7 ) Total smartphone solution for all DNotes functionality including vault and instant exchange functionality


What major issues with the existing financial system can DNotes solve?

1 ) Instant transfers of money.
2 ) Micro transactions, under $1 are not feasible. The transaction fees make micro transactions unprofitable if not impossible.

What services are most important to the future and success of DNotes?

1 ) Direct and simple fiat to DNotes exchange.
2 ) DNotes investment fund that is SEC approved and tradeable on a major stock exchange
3 ) Accessibility and Ease of Use
4 ) CLEARLY outlining benefits, programs, future of DNotes
5 ) 24/7 support
6 ) Multilingual support
7 ) Assurance of store of value
8 ) Credit/Debit Card
9 ) ATM services
10 ) Refill service for prepaid/sim cards

What major obstacles does DNotes face to achieve success?

1 ) Half of the world's population does not have banking access and is therefore excluded from participating in economic growth.
2 ) Combating and rising above the bad reputation bitcoin has (whether it is deserved or not).
3 ) Mainstream media negativity of any cryptocurrency in general.
4 ) Develop global name recognition. When people think "crypto" or "Bitcoin" now, they should simply think "DNotes" in the future.

What will aid the growth/evolution of DNotes, leading to mass adoption?

1 ) COOP's in Micro Communities

[Dyna]

Some of the problems confronting the industry would be what is listed in "What major obstacles does DNotes face to achieve success?"  Maybe we should continue with this post. 

What technologies are most important to the future and success of DNotes?

1 ) An easy to use merchant payment verification system that doesn't require a third party
2 ) Cloud storage of the blockchain. Wallets sync with cloud instantly and no lag time at startup. This is a centralized item, however, but would be of great benefit. Instant syncing, instant sending, etc.
3 ) Versatile tipping program for various websites and social media outlets
4 ) POS style reward system
5 ) Making DNotes secure for everyone to use no matter their situation
6 ) Instant exchange functionality for the DNotesVault
7 ) Total smartphone solution for all DNotes functionality including vault and instant exchange functionality


What major issues with the existing financial system can DNotes solve?

1 ) Instant transfers of money.
2 ) Micro transactions, under $1 are not feasible. The transaction fees make micro transactions unprofitable if not impossible.

What services are most important to the future and success of DNotes?

1 ) Direct and simple fiat to DNotes exchange.
2 ) DNotes investment fund that is SEC approved and tradeable on a major stock exchange
3 ) Accessibility and Ease of Use
4 ) CLEARLY outlining benefits, programs, future of DNotes
5 ) 24/7 support
6 ) Multilingual support
7 ) Assurance of store of value
8 ) Credit/Debit Card
9 ) ATM services
10 ) Refill service for prepaid/sim cards

What major obstacles does DNotes face to achieve success?

1 ) Half of the world's population does not have banking access and is therefore excluded from participating in economic growth.
2 ) Combating and rising above the bad reputation bitcoin has (whether it is deserved or not).
3 ) Mainstream media negativity of any cryptocurrency in general.
4 ) Develop global name recognition. When people think "crypto" or "Bitcoin" now, they should simply think "DNotes" in the future.

What will aid the growth/evolution of DNotes, leading to mass adoption?

1 ) COOP's in Micro Communities

Great idea, Chase. It will help to stay focused.