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

[Dyna]

"But just for have a global fiat pair for DNotes should be great."

Yeh, infovortice. No argument from me over this one. It's a big big step in a crypto's development.

Mark

DCEBrief will be covering a very long wish list as we get established. We will be covering the "ideals", the hurdles, and the pitfalls. There are many obstacles confronting Bitcoin and digital currency from mass acceptance. Bad consumer or user experience is a vital consideration to avoid. May be that is the primary reason why the credit card companies are not that concerned about our industry and everyone is jumping into the Blockchain bandwagon. Don't get me wrong. Blockchain related business opportunities will be massive and DNotes will be a major player. Our primary focus at this time is to be the trusted global digital currency that will be superior to fiat currency. How do we go about doing it is a huge strategic and logistic challenge few would care to under take. It is a massive undertaking but highly essential and immensely valuable.

There are many "good ideas" being tested including the nanocard. If that is the best we can do, our argument that Bitcoin and digital currency transaction has a significant cost advantage is fundamentally fraud. When conversion cost, fees, and risk of currency lose are all factored in, it is often more expensive than using other forms of payment. That is the primary reason why actual use of Bitcoin as a form of payment has been far below what the industry had wished for. It is far from being cost effective. Strangely, we are reintroducing more middlemen in certain cases resulting in higher fees.

The ultimate and core mission of DNotes is to reach the point when most DNotes transactions are truly between two parties without a middleman irrespective of where the two parties are located. That is what happens when everyone accepts DNotes. Being the global digital currency is what it takes. That is what we are striving for. DCEBrief is our next building block. Get ready.

This is a great post, creating middlemen to facilitate transfers is only a short-term solution to individual currencies lacking the infrastructure to be standalone services. Over time, DNotes will have the infrastructure built, and I'm sure will offer many of the same services that third parties are currently offering for Bitcoin. Middlemen are indeed expensive, imagine how hard it would be for a bank to compete with a company that provides lending, investment and bank processing opportunities with near zero transaction costs!? A profit model would still exist, but one that does not penalise what the company / currencies core purpose is - value transfer. Fees merely decrease the number of transactions.

Hypothetically, Imagine if DNotesVault processed USD into DNotes (hopefully for free), then allowed all transactions to be free from there on in using DNotes, a currency people can rely on for stability and use for merchant payments? A 1% commission could be made when people take their DNotes OUT of the network and into USD (to fund further growth, and protect value). That would mean more incentive for customers to leave their money inside the network. DNotesVault could one day become a bank (which I'm sure would be extremely expensive to set up - could partner with a bank?) and allow people to engage in either p2p lending in DNotes OR pay interest on deposits, taking interest from borrowers. Given the steady (but ever decreasing) supply of new coins in the network, this could put some 'upwards pressure' on DNotes value - because lenders would need to find DNotes to pay back their loan. This would mean lenders would need to pay back the initial principal of DNotes borrowed PLUS interest (which I imagine would only be available to purchase from an exchange like DNotesVault could one day become, unless the borrower is a merchant accepting DNotes - by which time transactional use is being achieved).

I haven't thought this through in detail or anything, but crypto banking could work in some ways to protect the value of crypto, thanks to people needing to purchase more of the crypto than they borrowed to pay back to lenders. One issue with this, is that depending on the amount of lending, and upwards pressure the repayment purchases at exchanges creates, would mean that borrowers could end up paying much more (in terms of USD) than they originally intended when they took out the loan. This could be easily communicated though, and wouldn't matter much if DNotes had a massive market cap in the billions. The free-market would be pretty good at deciding what the appropriate interest rate offered etc would be, and because crypto is net-positive, there won't be any threats to the eco-system because in the crypto world, having 1 DNote deposited in your bank, means your bank can only loan out 1 DNote. In the current banking world, $1 means a bank can lend $10 or more.

At the end of the day, nobody knows what it would look like, because we only have 'logic' and 'behavioural science' to base theory on.

I need to stop before I get too far into thinking about what the future could look like. I should probably write down some thoughts before I forget about them though...

What would a crypto-currencies stability look like, if there existed an algorithm that automatically manipulated the exchange fees on both the buy and sell side of a proprietary crypto exchange?

Bear with me, this could be horrendously stupid, and I tend to think it up as I go along (really should be doing other things too, but this is more interesting):

Imagine TeeGeeCryptoExchange is the only place where TeeGeeCrypto can be bought and sold. TeeGeeCrypto has a desired 'trading range' of (+/-) 1% daily, and +/-(5%) on 30 day moving average.

Now, fees are charged when people buy TeeGeeCoin with USD, and also when people sell TeeGeeCoin for USD. For simplicities sake, let's say that TeeGeeCryptoExchange charges 1% to both buyer and seller that are trading TeeGeeCoin with one another, for a total profit of 2%.

Now, TeeGee's mathematical algorithm that he is no-way-near smart enough to program notices one day, that the desired trading range is beginning to test the bottom end of the 5% change in value over the last 30 days. As the value of the coin gets closer and closer to -5% change over the last 30 days, it changes the fees placed on both buyers and sellers accordingly to 'soften' selling pressure, and 'encourage' buying pressure.

When trading is steady, 0% change - 1% fee to buyer, 1% fee to seller.
When trading is pushing price down by 1% - 0.75% fee to buyer, 1.25% fee to seller
When trading is pushing price down by 3% - 0.25% fee to buyer, 1.75% fee to seller
When trading is pushing price down by 5% - 0% fee to buyer, 2% fee for seller

And of course the other vice versa:
When trading is pushing price up by 1% - 1.25% fee to buyer, 0.75% fee to seller... and so forth

TeeGeeCryptoExchange makes a fixed 2% profit on each crypto transaction regardless of the fee's charged. Normally with markets, as the price changes, more people are prepared to buy or sell, depending on which way the market moved and vice versa. With this method, I'm provisionally thinking that the demand and supply of TeeGeeCoin could be to some degree, manipulated using fees, rather than having demand/supply change only due to changes in price (if stability is the goal).

Now what if it was a really horrible day at the exchange, and TeeGeeCoin drops 10% because not enough sellers were put off by the increased fees charged, and not enough buyers were interested by zero fees?

Well...

When trading is pushing price down 10% - Buyer awarded 3% fee charged to seller, 5% fee for seller. (TeeGeeCryptoExchange retains 2% of fee)

As in, the seller is charged 5% for further trying to tank the price (which hopefully trading vicissitudes continue to lessen with the fee structure anyway), and 3% of that 5% is paid to the buyer, to improve buy depth. TeeGeeCryptoExchange earns a continual 2% commission from every transaction, and fees are awarded to buyer / seller when market imbalances exist.

Anyway, just a casual thought / model to base some future ideas on. I was particularly interested in shifting demand/supply from price, to fees. The consistent fee retained by TeeGeeCryptoExchange, regardless of fees charged to buyer / seller would mean interests lie in stability. The model would also allow sustainable growth over time. Perhaps an exchange out there is already doing this?


Yup, I'm done. Feel free to comment.

I had a very long lunch meeting with two young men whom I regard as "insiders" of our industry. We shared a lot of industry information. Their strengths are in the hard core technical side. We had a great time. And now I have a lot to catch up and will only give you a very brief response.

I have high hopes that DCEBrief will help us open a lot of doors. We can practically pick what we want to  focus on and stage a dedicated campaign for one month to three months on one or two groups at a time with hard hitting clear and consistent messaging involving the contributors with proven track records - the authorities of the field. Subjects of focus could involve student loan crises, educating students for the next wave of high paying jobs, women empowerment, small business owners .....

Our goal is to position DNotes to meet the full functions of money; as a unit of account, as a store of value; and as a medium of exchange. We are certain that by the end of 2017 or 30 months from now that mission will be accomplished. Our ultimate goal is to ensure that DNotes will be far superior to any fiat currency. It will not take us more than five years to accomplish that. I will be writing a number of articles on that and will have plenty of time to back it up with real life cases as part of our future research projects. The ultimate goal is global mass consumer and merchant adoption and maximum transactions between two parties anytime anywhere in the world without the participation of middlemen.

DNotes ecosystem as we know it today will continue to expand and become a massive global payment network system, including mobile applications, banking systems offering a wide range of financial and others services. Central to this set up is one or more for profit companies. DNotes, the currency will own up to 25%. This could be a publicly traded company one day. It will be a very large global company that will be instrumental in supporting the increasing value of the currency. I have posted on this subject before. Again, taking our time to position DNotes correctly must remain our strategic strength. I can say that we are very good at that. Hope you get the idea.

[DNotes]

I just wanted to mention your idea is very creative TeeGee. Outside the box thinking is something we appreciate.

[IMZ]

Gotta enjoy yourself:

bought a little NOTE when the price dipped the other day.

The price stayed down, so . . . I bought a bit more.

Then yesterday -- the price was enticing. So I bought some Note.

But it was still cheap . . . so I bought one more packet.

[infovortice2013]

Gotta enjoy yourself:

bought a little NOTE when the price dipped the other day.

The price stayed down, so . . . I bought a bit more.

Then yesterday -- the price was enticing. So I bought some Note.

But it was still cheap . . . so I bought one more packet.

you doing same that me !!!  next step make fatter retirement plan

[Dyna]

Gotta enjoy yourself:

bought a little NOTE when the price dipped the other day.

The price stayed down, so . . . I bought a bit more.

Then yesterday -- the price was enticing. So I bought some Note.

But it was still cheap . . . so I bought one more packet.

you doing same that me !!!  next step make fatter retirement plan

Hello Mark and infovortice2013. Thank you for your confidence and support. It should not be a surprise that I  have continuously added more DNotes to my investment portfolio. I know that a few other people have been doing that too. We have actually increased our purchase but there has definitely been an increased supply of DNotes being dumped at Polo. It gives me a bad feeling when this started at the same time when I could not withdraw my DNotes from Allcoins. None of my 4 emails has been responded to. This is the dark side of our industry. From my personal experience alone; first it was CryptoRush, then Mintpale, and now Allcoin. This gives us even more reasons to be very cautious and focus in building our own ecosystem, which I believe is not priced in, making DNotes significantly undervalued.

[DNotes]

Back to DCEBrief. If we can think of a few headlines and basis for articles it would be helpful. Alan is working on getting a few people involved. The focus would be on what do the executives, politicians of the world need to know about digital currency. I know we have briefly talked about this before, feel free to bring your ideas back to the forefront. Here are a few ideas and subjects to get it rolling.

Digital Currency Regulation Recommendations - This topic has been discussed many times, the objective would be to create guidelines for regulators that would create an safe environment for users with enough freedom to allow innovation.

The Future of Digital Currency as a Payment System - This topic can discuss how digital currency might evolve as a payment system.

Does Digital Currency Meet the 3 Functions of Money? - Covering the 3 functions of money, Store of Value, Unit of Account, and Medium of exchange. It seems to be a fairly popular argument that digital currency does not meet these criteria.

Digital Currency is Backed by What!? - One of the other popular arguments is that digital currency has no real value. I do remember an article recently which wrote about it being backed by time and algorithmic functions. Inserting my own personal opinion here: We have to reevaluate what money is fundamentally, and how it works. Just like when a new discovery is made, we have to reevaluate our scientific theories. Eventually the books have to be re-written, new formulas created, and a brand new fundamental understanding is disseminated...

I have a dozen more ideas but I will stop there.

Digital currency education 1.0 for the Lay Masses. Basically how to get started.. 

The functions of money question would be interesting to answer, because the answer will change slowly but surely over time. I can identify three phases: now, in transit to mass adoption, and once accepted everywhere as tender with such a large market cap that stability is reached.

How will Digital Currency and Blockchain in general affect my business? / What effect will Digital Currency have on YOUR business / organization

What possibilities exist in the future for blockchain technology?

Why should I get involved now? How can I benefit the most by getting involved early?

Just a couple.

I'm also kind of thinking, what if the website also provided a broad, full strategic template for businesses to analyse when it comes to implementation of the technology and currency? This could be written by say, somebody who knows about strategy and include rough guidelines of the logical steps for a gradual implementation of blockchain technology in line with the latest industry innovations - I.e. First sign up to employer CRISP, later sign up for merchant account, use appropriate blockchain capable software to process and record both in-house and external transactions (whether involving fiat or crypto) etc...

Imagine if most businesses did not need absorb the costs of hiring a team just to make the decision whether to begin adopting blockchain / crypto technology! A continually updated strategic plan that is streamlined for different business types would bring lots of 'curious' traffic to the page, and give enough information combined with a rough plan to entrepreneurs / CEO's to make the decision to begin the blockchain / crypto adoption process. DCEBrief.com could then have a team of 'consultants' at the ready to aid business (particularly larger firms) with the finer details of becoming blockchain / crypto-capable if it is required.

Wouldn't surprise me if this idea hasn't already been floated about...

There is actually a fourth function of money:

Money enables society.

Pulling this information together and putting it at the forefront of our thread.

Doing some research this morning to get more ideas for important content on DCEBrief. Found some interesting information searching "what are the problems with bitcoin" on google. Check out the pages below.

The Five Biggest Threats Facing Bitcoin
http://www.coindesk.com/five-biggest-threats-facing-bitcoin/

What are the biggest problems with bitcoin right now?
http://www.quora.com/What-are-the-biggest-problems-with-bitcoin-right-now

I had a brief gander at the points made.

Centralization of Bitcoin / Crypto - Really unfortunate, may need to move to a fee structure for miners, or create a blockchain that operates on a "bonds / shares" model, where the hashrate or number of miners is limited. This could most effectively be run as a 'sidechain', and there could be, say, 10 thousand people allowed to be miners, all with a set hash-rate with proprietary software where a special code 'unlocks' the use of for a duration of one year. At the expiration of that year, the contract is tendered again, and a new code is generated to allow a miner to operate on the sidechain. This way, every miner would have 'equal' hash-rate (unless they purchased several miners), and each miner would either permanently own, or short term lease a 'fixed' number of mining slots available. This would both reduce the power consumption of the blockchain, and make a 50% attack much more difficult. There are many better long-term solutions to this problem though, the one mentioned is merely a band-aid. I'd prefer to see a newer and better decentralized model that doesn't waste electricity unnecessarily.

Bad actors? Well for the most part, that is a branding issue and DNotes is working to improve it. In a year or two, DNotes will be heavily featured the way Bitcoin is in the MSM.

Reactionary regulation? Well DCEbrief.com hopes to become an industry leader in closing the chasm between entrepreneurs, technology, and regulators. Our community and participants at DCEbrief.com can make a meaningful difference to the future stance governments take on crypto. There will definitely need to be much in the way of positive emphasis on what crypto can do for Government, and... politicians.

Poor mobile platform support? Yup well it's really sad that Google and Apple are not allowing Bitcoin to compete, but it is not entirely unsurprising. This would have been a prime strategy on account of Visa / Mastercard to sign up the companies that run the mobile Operating Systems and get them on board with their own mobile payments - which would give incentive to eliminate competition. The really sad feature, is that Chrome OS (Googles mobile OS) is supposed to be, and support open source. The community will either need to operate on mobile software available in the apps stores for the time being, support a new OS that is truly open source, offer the software in unofficial formats to get the ball rolling (once Apple and Google see money is to be made, they may offer the app), OR rely on multi-currency cards using NFC etc on existing terminals. Companies mentioned in this forum are beginning to make these jumps, but none have yet offered a holistic approach that does every single thing people need crypto companies for:

We need a company that can turn USD into crypto, then act as the facilitator of transactions and merchant payment that charges near-zero fees for transactions world-wide in an aggressive push to win market-share. Customers don't want to waste time using 10 different companies for their money needs, they want to use just one. At least with the DNotesVault, potential exists to operate as a USD to DNotes exchange, merchant payments facilitator, secure online wallet, savings account, bank (lending) and investment fund manager.

With USD, some of you here may have a separate company you use for many of the aforementioned things. Traditional banks normally operate as about 3 of them - Investment, savings, lending and then they partner up with Visa/mastercard to offer merchant payments.

* My main point is: eventually somebody needs to tackle this issue and stranglehold Google and Apple are operating by either partnering with a new OS (firefox, Microsoft) or offering a service so popular that Apple and Google can no longer ignore it. Aggressive and high quality marketing, plus a convenient, holistic list of offerings will make such a company popular very quickly.

Low adoption? Yeah, this is true, but the above 'general' outline would solve that for the most part.

Rambling over.

A couple more ideas for articles based on your comments.

Key Differences Between Digital Currency & Fiat - Self explanatory, but could be an important topic.

The Future of Digital Currency Technology - This may need to be refined into more specific topics. However the article could give people the vision of what it might look like in 5-10 years and potentially help people understand why it is important to get involved now.

[DNotes]

Almost 25,000 on Cryptsy's coin votes and a little over 1,000 to go to get to position 4!

https://www.cryptsy.com/coinvotes

[Chase]

Back to DCEBrief. If we can think of a few headlines and basis for articles it would be helpful. Alan is working on getting a few people involved. The focus would be on what do the executives, politicians of the world need to know about digital currency. I know we have briefly talked about this before, feel free to bring your ideas back to the forefront. Here are a few ideas and subjects to get it rolling.

Digital Currency Regulation Recommendations - This topic has been discussed many times, the objective would be to create guidelines for regulators that would create an safe environment for users with enough freedom to allow innovation.

The Future of Digital Currency as a Payment System - This topic can discuss how digital currency might evolve as a payment system.

Does Digital Currency Meet the 3 Functions of Money? - Covering the 3 functions of money, Store of Value, Unit of Account, and Medium of exchange. It seems to be a fairly popular argument that digital currency does not meet these criteria.

Digital Currency is Backed by What!? - One of the other popular arguments is that digital currency has no real value. I do remember an article recently which wrote about it being backed by time and algorithmic functions. Inserting my own personal opinion here: We have to reevaluate what money is fundamentally, and how it works. Just like when a new discovery is made, we have to reevaluate our scientific theories. Eventually the books have to be re-written, new formulas created, and a brand new fundamental understanding is disseminated...

I have a dozen more ideas but I will stop there.

Digital currency education 1.0 for the Lay Masses. Basically how to get started.. 

The functions of money question would be interesting to answer, because the answer will change slowly but surely over time. I can identify three phases: now, in transit to mass adoption, and once accepted everywhere as tender with such a large market cap that stability is reached.

How will Digital Currency and Blockchain in general affect my business? / What effect will Digital Currency have on YOUR business / organization

What possibilities exist in the future for blockchain technology?

Why should I get involved now? How can I benefit the most by getting involved early?

Just a couple.

I'm also kind of thinking, what if the website also provided a broad, full strategic template for businesses to analyse when it comes to implementation of the technology and currency? This could be written by say, somebody who knows about strategy and include rough guidelines of the logical steps for a gradual implementation of blockchain technology in line with the latest industry innovations - I.e. First sign up to employer CRISP, later sign up for merchant account, use appropriate blockchain capable software to process and record both in-house and external transactions (whether involving fiat or crypto) etc...

Imagine if most businesses did not need absorb the costs of hiring a team just to make the decision whether to begin adopting blockchain / crypto technology! A continually updated strategic plan that is streamlined for different business types would bring lots of 'curious' traffic to the page, and give enough information combined with a rough plan to entrepreneurs / CEO's to make the decision to begin the blockchain / crypto adoption process. DCEBrief.com could then have a team of 'consultants' at the ready to aid business (particularly larger firms) with the finer details of becoming blockchain / crypto-capable if it is required.

Wouldn't surprise me if this idea hasn't already been floated about...

There is actually a fourth function of money:

Money enables society.

Pulling this information together and putting it at the forefront of our thread.

Doing some research this morning to get more ideas for important content on DCEBrief. Found some interesting information searching "what are the problems with bitcoin" on google. Check out the pages below.

The Five Biggest Threats Facing Bitcoin
http://www.coindesk.com/five-biggest-threats-facing-bitcoin/

What are the biggest problems with bitcoin right now?
http://www.quora.com/What-are-the-biggest-problems-with-bitcoin-right-now

I had a brief gander at the points made.

Centralization of Bitcoin / Crypto - Really unfortunate, may need to move to a fee structure for miners, or create a blockchain that operates on a "bonds / shares" model, where the hashrate or number of miners is limited. This could most effectively be run as a 'sidechain', and there could be, say, 10 thousand people allowed to be miners, all with a set hash-rate with proprietary software where a special code 'unlocks' the use of for a duration of one year. At the expiration of that year, the contract is tendered again, and a new code is generated to allow a miner to operate on the sidechain. This way, every miner would have 'equal' hash-rate (unless they purchased several miners), and each miner would either permanently own, or short term lease a 'fixed' number of mining slots available. This would both reduce the power consumption of the blockchain, and make a 50% attack much more difficult. There are many better long-term solutions to this problem though, the one mentioned is merely a band-aid. I'd prefer to see a newer and better decentralized model that doesn't waste electricity unnecessarily.

Bad actors? Well for the most part, that is a branding issue and DNotes is working to improve it. In a year or two, DNotes will be heavily featured the way Bitcoin is in the MSM.

Reactionary regulation? Well DCEbrief.com hopes to become an industry leader in closing the chasm between entrepreneurs, technology, and regulators. Our community and participants at DCEbrief.com can make a meaningful difference to the future stance governments take on crypto. There will definitely need to be much in the way of positive emphasis on what crypto can do for Government, and... politicians.

Poor mobile platform support? Yup well it's really sad that Google and Apple are not allowing Bitcoin to compete, but it is not entirely unsurprising. This would have been a prime strategy on account of Visa / Mastercard to sign up the companies that run the mobile Operating Systems and get them on board with their own mobile payments - which would give incentive to eliminate competition. The really sad feature, is that Chrome OS (Googles mobile OS) is supposed to be, and support open source. The community will either need to operate on mobile software available in the apps stores for the time being, support a new OS that is truly open source, offer the software in unofficial formats to get the ball rolling (once Apple and Google see money is to be made, they may offer the app), OR rely on multi-currency cards using NFC etc on existing terminals. Companies mentioned in this forum are beginning to make these jumps, but none have yet offered a holistic approach that does every single thing people need crypto companies for:

We need a company that can turn USD into crypto, then act as the facilitator of transactions and merchant payment that charges near-zero fees for transactions world-wide in an aggressive push to win market-share. Customers don't want to waste time using 10 different companies for their money needs, they want to use just one. At least with the DNotesVault, potential exists to operate as a USD to DNotes exchange, merchant payments facilitator, secure online wallet, savings account, bank (lending) and investment fund manager.

With USD, some of you here may have a separate company you use for many of the aforementioned things. Traditional banks normally operate as about 3 of them - Investment, savings, lending and then they partner up with Visa/mastercard to offer merchant payments.

* My main point is: eventually somebody needs to tackle this issue and stranglehold Google and Apple are operating by either partnering with a new OS (firefox, Microsoft) or offering a service so popular that Apple and Google can no longer ignore it. Aggressive and high quality marketing, plus a convenient, holistic list of offerings will make such a company popular very quickly.

Low adoption? Yeah, this is true, but the above 'general' outline would solve that for the most part.

Rambling over.

A couple more ideas for articles based on your comments.

Key Differences Between Digital Currency & Fiat - Self explanatory, but could be an important topic.

The Future of Digital Currency Technology - This may need to be refined into more specific topics. However the article could give people the vision of what it might look like in 5-10 years and potentially help people understand why it is important to get involved now.

1. This is a spin off of TeeGee's "What effect will Digital Currency have on YOUR business / organization":   How will a global currency affect your business, organization, or government?


2. There have been a lot of headlines on various companies, banks, etc stating that they are interested in the blockchain, but not bitcoin.  The bitcoin community replies 'you can't have one without the other'.  I think this could use a little clarity (with a positive spin).  Can you or can't you?  Pros?  Cons? 

[DNotes]

1. This is a spin off of TeeGee's "What effect will Digital Currency have on YOUR business / organization":   How will a global currency affect your business, organization, or government?


2. There have been a lot of headlines on various companies, banks, etc stating that they are interested in the blockchain, but not bitcoin.  The bitcoin community replies 'you can't have one without the other'.  I think this could use a little clarity (with a positive spin).  Can you or can't you?  Pros?  Cons? 

For #2 I don't know the full intention of separating blockchain from bitcoin. Assuming it is to simply record information on a public ledger using reverse verifiable 'blocks' of data, then I would say it is of course possible, but maybe not feasible. If you have a centralized network of miners, that require no reward to secure the network, then I say why not? However, is that better than what we have today? If you want decentralized mining, you will need a reward system for mining on your system (most likely in a similar form to bitcoin).

Without a deep understanding of the use case, we may not be able to accurately answer the question.

It is fun to conceptualize how it would work without a reward token though.

[Dyna]

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

[DNotes]

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

Welcome Mati! Glad to hear you accepted the position, I've heard much about you from my conversations with Alan.

[Chase]

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

Welcome Mati! Glad to hear you accepted the position, I've heard much about you from my conversations with Alan.

That's awesome!!  Congratulations Mati! 

[TeeGee]

Great to have you on board Mati!

[Chase]

Here's an interesting article on compliance issues:


Five Recommendations for Bitcoin Companies to Ensure Compliance with the Department of Justice

Recommendations

Here are some specific steps for emerging virtual currency businesses to consider when ensuring their compliance efforts align with DOJ’s guidance and expectations:

It’s Never Too Early. Anticipate compliance issues as soon as possible in the company’s lifecycle. Develop a compliance system at the same time that you are refining your product or service (and well before you interact with customers).

People, People, People. It’s hard to understand cryptocurrencies, and even harder to explain them well to skeptical law enforcement personnel. Make excellent compliance people part of your initial team and include them in important decision-making.

Money, Money, Money. There must be the financial commitment to compliance that is required in this industry space. While DOJ seems sympathetic to the “significant expenditure of resources,” it will not likely go easy on those whom it concludes have skimped.

Think About the Technology’s Regulatory Future. The technology of, and related to, your virtual currency will shape the government’s expectations. Take bitcoin for example. Unlike dollar bills, say, every bitcoin carries its own transaction history. The blockchain is a public ledger of all bitcoin transactions. And new products are being refined that can analyze that blockchain and seek to determine every place a bitcoin has been and perhaps even who transferred or held it. It may become possible to give bitcoin a risk score, since those of suspicious provenance (for instance, those having once been through a mixer or in a dark wallet) could be separated from those that are squeaky clean.

Instill a High-Integrity Culture Now for the Company You Will Become. The government has high expectations for those it views as running “gatekeeper” businesses. The regulatory bar is bound to get even higher as large banks and financial institutions — with their established and highly professional compliance staffs — develop their own virtual currencies. As “gatekeeper” businesses grow, they face pressures to be “ethical” and not simply to meet legal and regulatory minimums. Adopt a broad view of compliance risk that focuses on the risk of misconduct and on reputational risk and then communicate that view clearly and compellingly in the onboarding process.

Full article:  https://bitcoinmagazine.com/21417/five-recommendations-bitcoin-companies-ensure-compliance-department-justice/

[matatyau-cohen]

Thank you Alan, I'll do my best to be helpful member of this community, I believe that dnotes as a totaly free-of-touch currency - is a great need of the global up-of-nationality future community. sure there is and there will be a struggle to strive to the top with many other good currencies. the names of the win in this struggle is: community, cooperation and honesty. thanks again

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

[matatyau-cohen]

Thank you

Great to have you on board Mati!

[matatyau-cohen]

Thank you

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

Welcome Mati! Glad to hear you accepted the position, I've heard much about you from my conversations with Alan.

That's awesome!!  Congratulations Mati! 

[Dyna]

Thank you Alan, I'll do my best to be helpful member of this community, I believe that dnotes as a totaly free-of-touch currency - is a great need of the global up-of-nationality future community. sure there is and there will be a struggle to strive to the top with many other good currencies. the names of the win in this struggle is: community, cooperation and honesty. thanks again

Congratulations to Mati Cohen!!!

Hello everyone! I like to convey our sincere congratulations to Mati Cohen, a new addition to DNotes Leadership Team. We have officially accepted Mati as a DNotes Community Director with initial focus, using his best efforts, to increase DNotes fans on business, employees and students community in Israel and the European region. Mati is a Journalist at Ground Jourbalism/ Ktiv Haser.  I trust that you all will join me to give Mati the warmest welcome and give him our best support.

Thank you all.

Alan

Thank, you Mati. We are honored and proud to have you join our efforts to help build a very much needed global digital currency for everyone worldwide. We know that this is a generational commitment that will take unyielding hard work and tenacity beyond a single generation. Perhaps that is among the various reasons why Chase came up with the idea of CRISP of Kids. They may well be our future leaders to help accomplish the mission we started today.

Taking our time to do the right things with trust and integrity are our marching orders. We know that there will be good times and challenging ones ahead of us. In our world of increasing financial distress, where common citizens are so vulnerable to financial ruin as a result cumulative poor political decisions, being associated with a trusted global digital currency alternative is a mission we all can be proud of. Welcome, aboard, Mati!!!

[DNotes]

Here's an interesting article on compliance issues:


Five Recommendations for Bitcoin Companies to Ensure Compliance with the Department of Justice

Recommendations

Here are some specific steps for emerging virtual currency businesses to consider when ensuring their compliance efforts align with DOJ’s guidance and expectations:

It’s Never Too Early. Anticipate compliance issues as soon as possible in the company’s lifecycle. Develop a compliance system at the same time that you are refining your product or service (and well before you interact with customers).

People, People, People. It’s hard to understand cryptocurrencies, and even harder to explain them well to skeptical law enforcement personnel. Make excellent compliance people part of your initial team and include them in important decision-making.

Money, Money, Money. There must be the financial commitment to compliance that is required in this industry space. While DOJ seems sympathetic to the “significant expenditure of resources,” it will not likely go easy on those whom it concludes have skimped.

Think About the Technology’s Regulatory Future. The technology of, and related to, your virtual currency will shape the government’s expectations. Take bitcoin for example. Unlike dollar bills, say, every bitcoin carries its own transaction history. The blockchain is a public ledger of all bitcoin transactions. And new products are being refined that can analyze that blockchain and seek to determine every place a bitcoin has been and perhaps even who transferred or held it. It may become possible to give bitcoin a risk score, since those of suspicious provenance (for instance, those having once been through a mixer or in a dark wallet) could be separated from those that are squeaky clean.

Instill a High-Integrity Culture Now for the Company You Will Become. The government has high expectations for those it views as running “gatekeeper” businesses. The regulatory bar is bound to get even higher as large banks and financial institutions — with their established and highly professional compliance staffs — develop their own virtual currencies. As “gatekeeper” businesses grow, they face pressures to be “ethical” and not simply to meet legal and regulatory minimums. Adopt a broad view of compliance risk that focuses on the risk of misconduct and on reputational risk and then communicate that view clearly and compellingly in the onboarding process.

Full article:  https://bitcoinmagazine.com/21417/five-recommendations-bitcoin-companies-ensure-compliance-department-justice/

Interesting article.

"It may become possible to give bitcoin a risk score, since those of suspicious provenance (for instance, those having once been through a mixer or in a dark wallet) could be separated from those that are squeaky clean." Gives me a bit of a bad feeling. We probably shouldn't be doing anything as a result of where coins came from, leaving that up to the legal enforcement agencies.

[Dyna]

Here's an interesting article on compliance issues:


Five Recommendations for Bitcoin Companies to Ensure Compliance with the Department of Justice

Recommendations

Here are some specific steps for emerging virtual currency businesses to consider when ensuring their compliance efforts align with DOJ’s guidance and expectations:

It’s Never Too Early. Anticipate compliance issues as soon as possible in the company’s lifecycle. Develop a compliance system at the same time that you are refining your product or service (and well before you interact with customers).

People, People, People. It’s hard to understand cryptocurrencies, and even harder to explain them well to skeptical law enforcement personnel. Make excellent compliance people part of your initial team and include them in important decision-making.

Money, Money, Money. There must be the financial commitment to compliance that is required in this industry space. While DOJ seems sympathetic to the “significant expenditure of resources,” it will not likely go easy on those whom it concludes have skimped.

Think About the Technology’s Regulatory Future. The technology of, and related to, your virtual currency will shape the government’s expectations. Take bitcoin for example. Unlike dollar bills, say, every bitcoin carries its own transaction history. The blockchain is a public ledger of all bitcoin transactions. And new products are being refined that can analyze that blockchain and seek to determine every place a bitcoin has been and perhaps even who transferred or held it. It may become possible to give bitcoin a risk score, since those of suspicious provenance (for instance, those having once been through a mixer or in a dark wallet) could be separated from those that are squeaky clean.

Instill a High-Integrity Culture Now for the Company You Will Become. The government has high expectations for those it views as running “gatekeeper” businesses. The regulatory bar is bound to get even higher as large banks and financial institutions — with their established and highly professional compliance staffs — develop their own virtual currencies. As “gatekeeper” businesses grow, they face pressures to be “ethical” and not simply to meet legal and regulatory minimums. Adopt a broad view of compliance risk that focuses on the risk of misconduct and on reputational risk and then communicate that view clearly and compellingly in the onboarding process.

Full article:  https://bitcoinmagazine.com/21417/five-recommendations-bitcoin-companies-ensure-compliance-department-justice/

Thank you Chase. This is a great article but it also reminds us of the hash realities confronting us. Maintaining a healthy balance of consumer protection and anti money laundering practices will always have our strongest support. Duplicative requirements, especially at multi states level or overly complicated and cost prohibitive burdens destroy small business participation giving unfair advantage to larger better funded competitors. We trust that BCEBrief will help convey a more reasonable middle ground that promotes strong support for anti money laundering measures and consumers protection while allowing small, less well funded small businesses to flourish within acceptable guidelines.