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

[norcalanon707]

DNotes Community,

I am the volunteer from PayServices that has been working on getting DNotes on their MultiExchange Operating System. https://www.payservices.com/#modal

PayServices will be soon launching their Crypto Integration Platform which will first feature 50 CryptoCurrencies DNotes being one of them. This will allow DNotes to be instantly converted into 49 other CryptoCurrencies (400 Cryptos Total before the end of the year) along with 130 Fiat Currencies( including USD, Euro, Pounds Sterling, Yuan etc) and 16 Complimentary Currencies including some as part of the Clinton Initiative. I believe the convertibility of the platform between Cryptos along with all the Fiat Currencies will be handy. Hopefully this will happen soon (No ETA) I have been in touch with the DNotes Founder and helped put him in touch with the VP of PayServices and was told that their conversation went extremely well.
https://www.payservices.com/currency.php

I have been in Crypto since 2011 and have been involved in quite a few developments as an assistant lead along with volunteering as a moderator in another CryptoForum. I mined DNotes back on day one and have always been a big fan of this great CryptoCurrency along with its great community and now the DNotes founder who in my book is the most impressive individual yet to date that I have met in Crypto.

Congratulations everyone for the Steadfast work here!!!

BTW- I made a withdrawal from the Vault for the first time the other day. I confirmed it by email I need to go back and re-read the help section to make sure I did it correctly. So I might be back asking for advice sooner than later. ;-)

Anyway, thank you and Congratulations on your work. Please feel free to contact me regarding any PayServices related questions or anything please feel free to contact me PM.

~NorCal

Hi NorCal, welcome to the DNotes community! That is excellent news. We are very excited to grow with PayServices, please let us know if there is anything we can do to help.

You must have been my pending withdrawal. I have sent you an email as a double confirmation and was awaiting response. Withdrawals typically have 24-48 hour wait from the DNotesVault. Not to worry, I have already discussed with Alan and released the DNotes.

Thank you for the kind words.

Thank you very much for the help and the warm welcome. Please send my best to Alan!! :-)

BTW- I just answered your email. :-)

~NorCal

[norcalanon707]

DNotes Community,

I am the volunteer from PayServices that has been working on getting DNotes on their MultiExchange Operating System. https://www.payservices.com/#modal

PayServices will be soon launching their Crypto Integration Platform which will first feature 50 CryptoCurrencies DNotes being one of them. This will allow DNotes to be instantly converted into 49 other CryptoCurrencies (400 Cryptos Total before the end of the year) along with 130 Fiat Currencies( including USD, Euro, Pounds Sterling, Yuan etc) and 16 Complimentary Currencies including some as part of the Clinton Initiative. I believe the convertibility of the platform between Cryptos along with all the Fiat Currencies will be handy. Hopefully this will happen soon (No ETA) I have been in touch with the DNotes Founder and helped put him in touch with the VP of PayServices and was told that their conversation went extremely well.
https://www.payservices.com/currency.php

I have been in Crypto since 2011 and have been involved in quite a few developments as an assistant lead along with volunteering as a moderator in another CryptoForum. I mined DNotes back on day one and have always been a big fan of this great CryptoCurrency along with its great community and now the DNotes founder who in my book is the most impressive individual yet to date that I have met in Crypto.

Congratulations everyone for the Steadfast work here!!!

BTW- I made a withdrawal from the Vault for the first time the other day. I confirmed it by email I need to go back and re-read the help section to make sure I did it correctly. So I might be back asking for advice sooner than later. ;-)

Anyway, thank you and Congratulations on your work. Please feel free to contact me regarding any PayServices related questions or anything please feel free to contact me PM.

~NorCal

Hi NorCal and welcome to the DNotes forum!  That is great news that DNotes is going to be listed on PayServices.  I am going to study it thoroughly this weekend and may have a question or two next week.  Thanks for all your hard work helping us out! 

Anything, I can do please do not hesitate to contact me here, pm or norcalanon707[at]gmail[dot]com and that goes for anyone in this community anytime.

Best,

~NorCal

Welcome NorCal. I was looking into your site when Dyna mentioned it the other day, impressive list of services. DNotes will be a great match for your company.

I am only a volunteer and friend of the owners. PayServices is going to be a game changer. DNotes will be the CryptoCurrency credited for helping raise awareness to the PayServices MultiExchange Operating System. I see them both making history here together and we are very close to seeing this take place. I will try to get Lionel Danenberg CEO/Owner of PayServices Inc over here to say hello as soon as I can. A friendly Crypto Welcome will be enjoyable for him after all the FUD Horror stories I have told him that goes on in other Crypto Communities. DNotes being the community that all coin communities can hopefully model themselves to be like. Keep up the great work!!!

~NorCal

[SmokeysGardens]

DNotes Community,

I am the volunteer from PayServices that has been working on getting DNotes on their MultiExchange Operating System. https://www.payservices.com/#modal

PayServices will be soon launching their Crypto Integration Platform which will first feature 50 CryptoCurrencies DNotes being one of them. This will allow DNotes to be instantly converted into 49 other CryptoCurrencies (400 Cryptos Total before the end of the year) along with 130 Fiat Currencies( including USD, Euro, Pounds Sterling, Yuan etc) and 16 Complimentary Currencies including some as part of the Clinton Initiative. I believe the convertibility of the platform between Cryptos along with all the Fiat Currencies will be handy. Hopefully this will happen soon (No ETA) I have been in touch with the DNotes Founder and helped put him in touch with the VP of PayServices and was told that their conversation went extremely well.
https://www.payservices.com/currency.php


I have been in Crypto since 2011 and have been involved in quite a few developments as an assistant lead along with volunteering as a moderator in another CryptoForum. I mined DNotes back on day one and have always been a big fan of this great CryptoCurrency along with its great community and now the DNotes founder who in my book is the most impressive individual yet to date that I have met in Crypto.

Congratulations everyone for the Steadfast work here!!!

BTW- I made a withdrawal from the Vault for the first time the other day. I confirmed it by email I need to go back and re-read the help section to make sure I did it correctly. So I might be back asking for advice sooner than later. ;-)

Anyway, thank you and Congratulations on your work. Please feel free to contact me regarding any PayServices related questions or anything please feel free to contact me PM.

~NorCal

Hi NorCal and welcome to the DNotes forum!  That is great news that DNotes is going to be listed on PayServices.  I am going to study it thoroughly this weekend and may have a question or two next week.  Thanks for all your hard work helping us out! 

Anything, I can do please do not hesitate to contact me here, pm or norcalanon707[at]gmail[dot]com and that goes for anyone in this community anytime.

Best,

~NorCal

Welcome NorCal. I was looking into your site when Dyna mentioned it the other day, impressive list of services. DNotes will be a great match for your company.

I am only a volunteer and friend of the owners. PayServices is going to be a game changer. DNotes will be the CryptoCurrency credited for helping raise awareness to the PayServices MultiExchange Operating System. I see them both making history here together and we are very close to seeing this take place. I will try to get Lionel Danenberg CEO/Owner of PayServices Inc over here to say hello as soon as I can. A friendly Crypto Welcome will be enjoyable for him after all the FUD Horror stories I have told him that goes on in other Crypto Communities. DNotes being the community that all coin communities can hopefully model themselves to be like. Keep up the great work!!!

~NorCal

     Welcome to the world of DNotes, NorCal! I am glad that others can see what we are doing, and why we are doing it. From what Alan has told me, Mr. Danenberg is a very capable and insightful visionary. The way it sounds, Alan and Mr. Danenberg share a vision for the future. Gonna be an exciting ride!
     
     I have not been posting much lately, but be sure I am not missing a thing. Been VERY busy in the gardens. We have dug up several hundred thousand clumps of daylilies, split them into single plants, and have replanted more than 350,000 plants so far this summer. All the while, shipping out hundreds, or thousands of plants daily. I, for one, am looking forward to the slowdown after we are done with digging/replanting for the year, should be done in about one to two weeks. After that, it will be just daily shipping, (until november 1) and getting ready for winter. You guys are doing a great job. It is nice to see a community come together for a common cause. Kudos to all.

Smokey
The Flower King

[norcalanon707]

DNotes Community,

I am the volunteer from PayServices that has been working on getting DNotes on their MultiExchange Operating System. https://www.payservices.com/#modal

PayServices will be soon launching their Crypto Integration Platform which will first feature 50 CryptoCurrencies DNotes being one of them. This will allow DNotes to be instantly converted into 49 other CryptoCurrencies (400 Cryptos Total before the end of the year) along with 130 Fiat Currencies( including USD, Euro, Pounds Sterling, Yuan etc) and 16 Complimentary Currencies including some as part of the Clinton Initiative. I believe the convertibility of the platform between Cryptos along with all the Fiat Currencies will be handy. Hopefully this will happen soon (No ETA) I have been in touch with the DNotes Founder and helped put him in touch with the VP of PayServices and was told that their conversation went extremely well.
https://www.payservices.com/currency.php


I have been in Crypto since 2011 and have been involved in quite a few developments as an assistant lead along with volunteering as a moderator in another CryptoForum. I mined DNotes back on day one and have always been a big fan of this great CryptoCurrency along with its great community and now the DNotes founder who in my book is the most impressive individual yet to date that I have met in Crypto.

Congratulations everyone for the Steadfast work here!!!

BTW- I made a withdrawal from the Vault for the first time the other day. I confirmed it by email I need to go back and re-read the help section to make sure I did it correctly. So I might be back asking for advice sooner than later. ;-)

Anyway, thank you and Congratulations on your work. Please feel free to contact me regarding any PayServices related questions or anything please feel free to contact me PM.

~NorCal

Hi NorCal and welcome to the DNotes forum!  That is great news that DNotes is going to be listed on PayServices.  I am going to study it thoroughly this weekend and may have a question or two next week.  Thanks for all your hard work helping us out! 

Anything, I can do please do not hesitate to contact me here, pm or norcalanon707[at]gmail[dot]com and that goes for anyone in this community anytime.

Best,

~NorCal

Welcome NorCal. I was looking into your site when Dyna mentioned it the other day, impressive list of services. DNotes will be a great match for your company.

I am only a volunteer and friend of the owners. PayServices is going to be a game changer. DNotes will be the CryptoCurrency credited for helping raise awareness to the PayServices MultiExchange Operating System. I see them both making history here together and we are very close to seeing this take place. I will try to get Lionel Danenberg CEO/Owner of PayServices Inc over here to say hello as soon as I can. A friendly Crypto Welcome will be enjoyable for him after all the FUD Horror stories I have told him that goes on in other Crypto Communities. DNotes being the community that all coin communities can hopefully model themselves to be like. Keep up the great work!!!

~NorCal

     Welcome to the world of DNotes, NorCal! I am glad that others can see what we are doing, and why we are doing it. From what Alan has told me, Mr. Danenberg is a very capable and insightful visionary. The way it sounds, Alan and Mr. Danenberg share a vision for the future. Gonna be an exciting ride!
     
     I have not been posting much lately, but be sure I am not missing a thing. Been VERY busy in the gardens. We have dug up several hundred thousand clumps of daylilies, split them into single plants, and have replanted more than 350,000 plants so far this summer. All the while, shipping out hundreds, or thousands of plants daily. I, for one, am looking forward to the slowdown after we are done with digging/replanting for the year, should be done in about one to two weeks. After that, it will be just daily shipping, (until november 1) and getting ready for winter. You guys are doing a great job. It is nice to see a community come together for a common cause. Kudos to all.

Smokey
The Flower King

Holy Toledo Smokey!!!! Thats some serious work!!!!

Yes, Willy Danenberg and Alan see eye to eye and hold no illusions regarding whats to come.

I believe truly that the Danenberg introduction might be what will define my place in Crypto after 4 years of struggle and mediocre at best results combined with more errors than I can count.

" A wise man once said that an error only becomes a mistake when you refuse to correct it" John Fitzgerald Kennedy

I look forward to bringing Lionel by here to meet you all. Willy Danenberg is his father and Lionel is PayServices CEO and one of the top coders in the world. A very impressive young man who like his father, cares about the future, society and person Freedoms and our right to choose as individuals our own financial futures.

We will be chatting again, thats for sure. :-)

~Norcal

[Dyna]

DNotes Community,

I am the volunteer from PayServices that has been working on getting DNotes on their MultiExchange Operating System. https://www.payservices.com/#modal

PayServices will be soon launching their Crypto Integration Platform which will first feature 50 CryptoCurrencies DNotes being one of them. This will allow DNotes to be instantly converted into 49 other CryptoCurrencies (400 Cryptos Total before the end of the year) along with 130 Fiat Currencies( including USD, Euro, Pounds Sterling, Yuan etc) and 16 Complimentary Currencies including some as part of the Clinton Initiative. I believe the convertibility of the platform between Cryptos along with all the Fiat Currencies will be handy. Hopefully this will happen soon (No ETA) I have been in touch with the DNotes Founder and helped put him in touch with the VP of PayServices and was told that their conversation went extremely well.
https://www.payservices.com/currency.php


I have been in Crypto since 2011 and have been involved in quite a few developments as an assistant lead along with volunteering as a moderator in another CryptoForum. I mined DNotes back on day one and have always been a big fan of this great CryptoCurrency along with its great community and now the DNotes founder who in my book is the most impressive individual yet to date that I have met in Crypto.

Congratulations everyone for the Steadfast work here!!!

BTW- I made a withdrawal from the Vault for the first time the other day. I confirmed it by email I need to go back and re-read the help section to make sure I did it correctly. So I might be back asking for advice sooner than later. ;-)

Anyway, thank you and Congratulations on your work. Please feel free to contact me regarding any PayServices related questions or anything please feel free to contact me PM.

~NorCal

Hi NorCal and welcome to the DNotes forum!  That is great news that DNotes is going to be listed on PayServices.  I am going to study it thoroughly this weekend and may have a question or two next week.  Thanks for all your hard work helping us out!  

Anything, I can do please do not hesitate to contact me here, pm or norcalanon707[at]gmail[dot]com and that goes for anyone in this community anytime.

Best,

~NorCal

Welcome NorCal. I was looking into your site when Dyna mentioned it the other day, impressive list of services. DNotes will be a great match for your company.

I am only a volunteer and friend of the owners. PayServices is going to be a game changer. DNotes will be the CryptoCurrency credited for helping raise awareness to the PayServices MultiExchange Operating System. I see them both making history here together and we are very close to seeing this take place. I will try to get Lionel Danenberg CEO/Owner of PayServices Inc over here to say hello as soon as I can. A friendly Crypto Welcome will be enjoyable for him after all the FUD Horror stories I have told him that goes on in other Crypto Communities. DNotes being the community that all coin communities can hopefully model themselves to be like. Keep up the great work!!!

~NorCal

     Welcome to the world of DNotes, NorCal! I am glad that others can see what we are doing, and why we are doing it. From what Alan has told me, Mr. Danenberg is a very capable and insightful visionary. The way it sounds, Alan and Mr. Danenberg share a vision for the future. Gonna be an exciting ride!
    
     I have not been posting much lately, but be sure I am not missing a thing. Been VERY busy in the gardens. We have dug up several hundred thousand clumps of daylilies, split them into single plants, and have replanted more than 350,000 plants so far this summer. All the while, shipping out hundreds, or thousands of plants daily. I, for one, am looking forward to the slowdown after we are done with digging/replanting for the year, should be done in about one to two weeks. After that, it will be just daily shipping, (until november 1) and getting ready for winter. You guys are doing a great job. It is nice to see a community come together for a common cause. Kudos to all.

Smokey
The Flower King

Holy Toledo Smokey!!!! Thats some serious work!!!!

Yes, Willy Danenberg and Alan see eye to eye and hold no illusions regarding whats to come.

I believe truly that the Danenberg introduction might be what will define my place in Crypto after 4 years of struggle and mediocre at best results combined with more errors than I can count.

" A wise man once said that an error only becomes a mistake when you refuse to correct it" John Fitzgerald Kennedy

I look forward to bringing Lionel by here to meet you all. Willy Danenberg is his father and Lionel is PayServices CEO and one of the top coders in the world. A very impressive young man who like his father, cares about the future, society and person Freedoms and our right to choose as individuals our own financial futures.

We will be chatting again, thats for sure. :-)

~Norcal

NorCal, thank you for introducing yourself to our community. We are very appreciative of your great introduction of DNotes to PayServices. This could be the "lucky break" for all parties involved.

We are living in a different world than just years ago. Visionaries like Willy and me must, and we are, be bold and confront big issues on a global scale through collaboration and unity of force, supported by solid foundations well crafted and built with passion and tireless hard work.

Strategic partnership can move mountains which otherwise may not be possible. We can hope to achieve network effect and wait for a life time without seeing it happened or we can plan for it to take place through the unity of force resulting from strategic partnerships giving the new alliance unmatched strength and agility. While this is speculative on my part at such an early stage of discussion, I trust that there many favorable factors that could lead to that.

When Willy and I met two days ago via a Skype call, we both assumed that we were strangers to each other. We were pleasantly surprised that we had a great business relationship some 23 years ago. He was one of Dauphin's best European customers when I was the CEO. Willy described a great service support incident in such details like it took place a week ago. In short, our service department took great care of him. Once his Dauphin computer came in by DHL we immediately fixed it, had someone drove to the airport to make the next flight and he got it back the next day. His important customer was quite surprised. That is a great start for a renewed relationship. I am excited and looking forward to the possibility of staging a quantum leap together. This will not happen overnight but could be within striking distance.

[DNotes]

Article here on 'bad conduct' in a widely used cryptocurrency market could have an impact on fiat. Ignore the title, it's worth a read. DNotes holistic approach will help alleviate some of the problems mentioned in this article, without any entity requiring 'power' or 'control'. It won't be easy, it will take dedication and perseverance.

Research: Federal Reserve Needs Power Over Bitcoin

The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues.

Entitled "$=€=Bitcoin?", the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies.

The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments.

More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could "bear responsibility" for a systemic crash should it affect either or both markets.

The report reads:

"Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money supply and payment systems."

The author argues that the decentralized nature of bitcoin suggests government action will be necessary should any "bad conduct" materialize in the market.

"The result is likely to be an increased need for ex-post intervention, and it would be preferable if the intervention plan were well thought-out, rather than a messy, ad hoc plan developed in the heat of a crisis," it continues.

Overall, the author makes the plea for action to be taken to address how governments should respond in times of digital currency crises before they become more widely used as a store of value and payment method.

Elsewhere, the full paper explores the definitions of money, while providing detailed overviews of the history of bitcoin, the US dollar and euro, as well as the variations in responsibilities between entities such as the Federal Reserve and European Central Bank.

Source: http://www.coindesk.com/research-federal-reserve-needs-power-over-bitcoin/

[Dyna]

Article here on 'bad conduct' in a widely used cryptocurrency market could have an impact on fiat. Ignore the title, it's worth a read. DNotes holistic approach will help alleviate some of the problems mentioned in this article, without any entity requiring 'power' or 'control'. It won't be easy, it will take dedication and perseverance.

Research: Federal Reserve Needs Power Over Bitcoin

The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues.

Entitled "$=€=Bitcoin?", the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies.

The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments.

More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could "bear responsibility" for a systemic crash should it affect either or both markets.

The report reads:

"Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money supply and payment systems."

The author argues that the decentralized nature of bitcoin suggests government action will be necessary should any "bad conduct" materialize in the market.

"The result is likely to be an increased need for ex-post intervention, and it would be preferable if the intervention plan were well thought-out, rather than a messy, ad hoc plan developed in the heat of a crisis," it continues.

Overall, the author makes the plea for action to be taken to address how governments should respond in times of digital currency crises before they become more widely used as a store of value and payment method.

Elsewhere, the full paper explores the definitions of money, while providing detailed overviews of the history of bitcoin, the US dollar and euro, as well as the variations in responsibilities between entities such as the Federal Reserve and European Central Bank.

Source: http://www.coindesk.com/research-federal-reserve-needs-power-over-bitcoin/

I made various attempts to track down the original research work without success. My opinion is strictly based on the article as published by Coindesk.

It seems to me that her conclusions below are highly speculative and baseless. She seems to have fairly shallow knowledge of relative scale.

To put things in prospective, the total market cap of Bitcoin and all other crypto currencies combined  is under $5 Billion. Apple Computer has a market cap of $637 today and Shanghai stock market lost $2 trillion the first 17 day when the decline started at the end of June. US market had many bad days when over $1 trillion was lost in a single day.

I have no idea what her projected growth path is based on, but to reach a conclusion that “Federal Reserve Needs Power Over Bitcoin?". I don't think so. I am confused. If she is wildly optimistic about Bitcoin massive projected growth why did she tried to argue for more centralized control that would only stifle innovation and growth?

Quote from author:

"If the failed virtual currency had previously been widely used to affect everyday purchases, the resulting payment system failure could impact the normal flow of funds in a way that could retard broader economic growth," the paper said. ……………
In a panic, the financial institution would no longer be able to exchange the virtual currency for the fiat currencies needed to discharge the fiat currency-denominated obligations," it reads. "Instead, the financial institution would either have to sell other assets, or borrow, to raise the necessary fiat currencies to discharge its fiat-currency denominated obligations……..    If a serious systemic crisis were to result, interbank lending would seize up entirely because of a general lack of confidence in financial institutions and their collateral – and if interbank lending seizes up, then the flow of credit to the economy at large will also seize," it reads. "

[Chase]

Article here on 'bad conduct' in a widely used cryptocurrency market could have an impact on fiat. Ignore the title, it's worth a read. DNotes holistic approach will help alleviate some of the problems mentioned in this article, without any entity requiring 'power' or 'control'. It won't be easy, it will take dedication and perseverance.

Research: Federal Reserve Needs Power Over Bitcoin

The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues.

Entitled "$=€=Bitcoin?", the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies.

The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments.

More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could "bear responsibility" for a systemic crash should it affect either or both markets.

The report reads:

"Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money supply and payment systems."

The author argues that the decentralized nature of bitcoin suggests government action will be necessary should any "bad conduct" materialize in the market.

"The result is likely to be an increased need for ex-post intervention, and it would be preferable if the intervention plan were well thought-out, rather than a messy, ad hoc plan developed in the heat of a crisis," it continues.

Overall, the author makes the plea for action to be taken to address how governments should respond in times of digital currency crises before they become more widely used as a store of value and payment method.

Elsewhere, the full paper explores the definitions of money, while providing detailed overviews of the history of bitcoin, the US dollar and euro, as well as the variations in responsibilities between entities such as the Federal Reserve and European Central Bank.

Source: http://www.coindesk.com/research-federal-reserve-needs-power-over-bitcoin/

I made various attempts to track down the original research work without success. My opinion is strictly based on the article as published by Coindesk.

It seems to me that her conclusions below are highly speculative and baseless. She seems to have fairly shallow knowledge of relative scale.

To put things in prospective, the total market cap of Bitcoin and all other crypto currencies combined  is under $5 Billion. Apple Computer has a market cap of $637 today and Shanghai stock market lost $2 trillion the first 17 day when the decline started at the end of June. US market had many bad days when over $1 trillion was lost in a single day.

I have no idea what her projected growth path is based on, but to reach a conclusion that “Federal Reserve Needs Power Over Bitcoin?". I don't think so. I am confused. If she is wildly optimistic about Bitcoin massive projected growth why did she tried to argue for more centralized control that would only stifle innovation and growth?

Quote from author:

"If the failed virtual currency had previously been widely used to affect everyday purchases, the resulting payment system failure could impact the normal flow of funds in a way that could retard broader economic growth," the paper said. ……………
In a panic, the financial institution would no longer be able to exchange the virtual currency for the fiat currencies needed to discharge the fiat currency-denominated obligations," it reads. "Instead, the financial institution would either have to sell other assets, or borrow, to raise the necessary fiat currencies to discharge its fiat-currency denominated obligations……..    If a serious systemic crisis were to result, interbank lending would seize up entirely because of a general lack of confidence in financial institutions and their collateral – and if interbank lending seizes up, then the flow of credit to the economy at large will also seize," it reads. "

This is why DCEBrief is needed!

I'm sure most of the report can be challenged, but here are just a couple things I quickly picked up on:

"Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank..."  If a digital currency is that widely used, that means it is really successful.  If it is really successful, that means there probably wasn't much confidence in the central bank to start with.

"The author argues that the decentralized nature of bitcoin suggests government action will be necessary should any "bad conduct" materialize in the market."  Government intervention takes place when there is bad conduct in any market - it's called enforcing the law.

I could go on and on...

[DNotes]

Our latest article on DCEBrief

http://www.dcebrief.com/finding-the-goldilocks-zone-striking-the-balance-between-regulation-and-innovation-in-the-digital-currency-space/

If anyone needs the username and password:
username: dce
password: brief

[Chase]

Finding the ‘Goldilocks’ Zone’: Striking the Balance Between Regulation and Innovation in the Digital Currency Space

That is a great article Chris!  Congratulations!

[Dyna]

Finding the ‘Goldilocks’ Zone’: Striking the Balance Between Regulation and Innovation in the Digital Currency Space

That is a great article Chris!  Congratulations!

I thought so too. Very well done, Chris.

[Dyna]

Here's an interesting article regarding the banks entering the digital currency / blockchain space.  The author may be right here in that the banks will enter very slowly and try and fit this technology into their existing archaic model.


Bitcoin: Another Banking Headache

A recent flurry of media reports and surveys have touted that some banking and financial services sector players are undertaking interesting projects with blockchains and decentralized ledgers in particular. But this burst of activity is hardly enough to prematurely claim victory on behalf of the few banks who have publicized such initiatives.

It is naive to assume that the blockchain will make the most impact where it is to be adopted early. Rather, it will make the most impact where change is hardest to achieve, and that might take a little longer, realistically.

The blockchain and its derivative technologies are one of the biggest opportunities for reengineering financial services. It’s a looming tsunami, and the big question is whether the banks will fail to reinvent themselves as they did with the Internet, or if they will dare to induce a self-inflicted shake-up and embrace the future.

Based on the early activity that I’m seeing, it appears that the banks are taking a narrow minded view of the opportunity being presented to them. Not unlike how they tackled the Internet in 1995.

If you’re a CEO or senior executive at a big bank or large financial institution, you will remember the advent of the Internet and its subsequent entry into the world of finance. That was around 1994-1997. Having been there too, and involved with some banks in an advisory capacity, I remember well that the banking sector didn’t take the Internet too seriously for at least the first three-to-four years of its commercialization. For example, when it came to Internet payments, banks didn’t want to touch them initially under the pretext that they “weren’t safe”.

Then, a handful of Internet-only banks and online brokerage startups were created, and banks followed by offering online banking, buying the brokerage companies, and much later rushed to develop smartphone apps for their customers.

Slow progress

Even when the banking sector took the Internet seriously, they did so very slowly, and without much innovation and without rocking the boat. When I look at my online banking today, the features are mostly about convenience, but I can’t do too much beyond the basics. My foreign exchange account doesn’t link to my banking card, I can’t exchange money online, and can’t initiate a wire transfer unless I visit the bank or have a fancy business account.

If I was a millennial today, I wouldn’t think twice about not using a traditional bank because most of the services I am attracted to are offered by alternative financial services companies, primarily due to innovative FinTech startups that sprung up in the past decade.

Here’s a typical millennial’s “financial stack”. In fact, a mere $2.3bn has funded the production of 126 FinTech companies in the past few years only. That certainly pales in comparison to the $200bn globally spent each year on IT by the banking sector, a high figure backed by the fact that the financial services industry consistently outspends other industries on technology. But we would be hard pressed to see real innovation coming out of that huge spending, because the bulk of those budgets are for keeping the lights on and infrastructure running.

Indeed, many banks have established so-called innovation and research centers with multi-million dollar budgets. But that’s not enough. These supposedly act as research laboratories with a mandate to run pilots and experiments. But are they really innovating at the pace of external innovation or are they being gatekeepers to the real innovation that’s happening outside banks?

In reality, few of these centers are real innovators. They are still bound by the bank’s current and legacy business models. It is puzzling that your business units couldn’t innovate on their own. Why not issue innovation mandates everywhere, not just in the “innovation center”?

And that’s all before bitcoin in the mix yet.

Enter bitcoin, cryptocurrencies, blockchains, distributed ledgers and more technical jargon.

Hello bitcoin, another banking headache

Bitcoin is the “Internet of money” after all, so that should have gotten a banker’s attention from day one. Then we have the blockchain, the infrastructure behind bitcoin and other decentralization technologies. Well, let’s say it’s like a new type of database that has the potential to wreak havoc for your IT departments. It sounds like a perfect discussion between a CEO and their CIO.

I have said this before many times. The novel field is not bitcoin and it’s not just blockchain. It’s the intersection of cryptography technology with software engineering. We could call it CryptoTech for a lack of a better word.

CryptoTech is not a unidirectional phenomenon. It’s multi-dimensional, therefore it will have different bifurcations. It has multiple identities. And it’s more than just about bitcoin or blockchains. It is simultaneously:

   -Currency with wings, and no borders

   -Software Technology with a new development architecture paradigm

   -Accounting Ledger that is distributed and decentralized

   -Consensus Clearing network that acts as a “trust layer” that can validate business logic, not just transactions

   -Real-Time Messaging System that’s built-in, therefore it’s very fast

   -Global Online Community with special network effects

   -Transactions Engine that can verify transactions and approval levels

   -Computing Infrastructure that is global and similar to a cloud-based one

   -Reengineering Catalyst that enables innovation and new processes focused on enabling decentralization

The larger the organization, the more it needs to address all of these pieces, because it will be touched by each one of them, sooner or later.

So, in addition to focusing on the decentralized ledger properties of the blockchain, the banking sector needs to take a more holistic approach to determining what blockchain technologies (including bitcoin) can do for them.

http://www.coindesk.com/bitcoin-another-banking-headache/

This is a well written article that I had wanted to comment on but just ran out of time. The process of change is never quick or easy, especially in this case where big money; financial institutions are involved. Early adaptors of digital currency like us can often get over excited and become too optimistic or too pessimistic.  

I agreed with the author that “the banks will enter very slowly and try and fit this technology into their existing archaic model ….. taking a narrow minded view of the opportunity being presented to them. Not unlike how they tackled the Internet in 1995.”

However, it is important to take notes that in the beginning the banks and credit card companies were totally against Bitcoin as a new currency and had little appreciation for the blockchain technology.

When they realized that the potential threat could become real they started hiring high priced consultants. The author pointed out that “many banks have established so-called innovation and research centers with multi-million dollar budgets. But that’s not enough.” I agree. But that is good for PR and it can be an effective tool to push back, buy more time and create some confusion and fear for the digital currency industry.

But make no mistake about, the banks may take time to adapt and change but it will happen. They will exploit the best of the blockchain technology to their advantage. I am certain that battle plans are on the drawing board to confuse and slow down our industry. The banks will eventually have their version of digital currency. It will be a centralized digital currency with high fees for service and a drastic reduction in payroll cost. Many jobs will be lost.

Correct me if I am wrong, this is the only sizable industry with over 250,000 jobs, and growing rapidly, that does not have an industry association or any form of a united voice or leadership to promote and protect its best interest. That is something to think about.  

[SmokeysGardens]

Our latest article on DCEBrief

http://www.dcebrief.com/finding-the-goldilocks-zone-striking-the-balance-between-regulation-and-innovation-in-the-digital-currency-space/

If anyone needs the username and password:
username: dce
password: brief

     Great start guys! Gonna take a break from the gardens and go to the NASCAR race in Bristol. Bristol has been an annual event for decades for Mrs. Smokey and I. Back before I got cancer five years ago, Mrs. Smokey and I would attend several NASCAR races every year. Dont seem to get out of the garden much these days! We used to have season tickets to several tracks, and season tickets for the Colts. Now, the most exciting thing in our lives is DNotes! You guys are making an old man very happy! Keep up the good work, we are one of the few "good examples" in Crypto-currency.

Smokey

[DNotes]

     Great start guys! Gonna take a break from the gardens and go to the NASCAR race in Bristol. Bristol has been an annual event for decades for Mrs. Smokey and I. Back before I got cancer five years ago, Mrs. Smokey and I would attend several NASCAR races every year. Dont seem to get out of the garden much these days! We used to have season tickets to several tracks, and season tickets for the Colts. Now, the most exciting thing in our lives is DNotes! You guys are making an old man very happy! Keep up the good work, we are one of the few "good examples" in Crypto-currency.

Smokey

Sounds great, have fun and stay safe.

I'll be doing a few final touches on DCEBrief today, to get it ready to open it up to the public. Please take a good look at the site again to see if there are any needed improvements.

Also, should we narrow down the quotes? If so, I can post all the added quotes in the forum for review.

[Chase]

     Great start guys! Gonna take a break from the gardens and go to the NASCAR race in Bristol. Bristol has been an annual event for decades for Mrs. Smokey and I. Back before I got cancer five years ago, Mrs. Smokey and I would attend several NASCAR races every year. Dont seem to get out of the garden much these days! We used to have season tickets to several tracks, and season tickets for the Colts. Now, the most exciting thing in our lives is DNotes! You guys are making an old man very happy! Keep up the good work, we are one of the few "good examples" in Crypto-currency.

Smokey

Sounds great, have fun and stay safe.

I'll be doing a few final touches on DCEBrief today, to get it ready to open it up to the public. Please take a good look at the site again to see if there are any needed improvements.

Also, should we narrow down the quotes? If so, I can post all the added quotes in the forum for review.

Have a great day Mr & Mrs Smokey!


Quotes - We could divide them up and have a new set run each month or so??  Also, there are a lot by one or two people, so we could split those between 2 or 3 sets.  It probably wouldn't hurt to take another look at them, just to be sure there isn't something that can be misinterpreted.


edit:  Personally I love quotes and there can never be too many, so my suggestion is only if you think there are too many.  Either way, DCEBrief is awesome!

[DNotes]

I think having more quotes will make them less repetitive, rather than splitting them up.

Some of the Melanie Shapiro sound familiar, if we can find the original source of the quote.

Here is the list:

Accounts at a money service business or financial institution can certainly be linked to identity, but the individual coins (or coin subunits) themselves cannot be.
Jon Matonis - e-money researcher and crypto economist

The math and technology behind the blockchain is difficult for most to understand, but the beauty is - you don't have to get it to use it. Do you really get how the internet works? TLS/SSL? DNS? HTTPS?
Melanie Shapiro - Founder/CEO of CaseWallet

There's a lot of misconception about what bitcoin actually is due to media narratives. The most popular reference I hear mentioned is Silk Road, but Silk Road wasn't enabled by bitcoin. People forget or don't realize that Silk Road was enabled by Tor, an 'anonymizing' proxy network. Bitcoin isn't actually an anonymous currency it's pseudo-anonymous. Want to know what's anonymous? Cash.
Melanie Shapiro – Founder/CEO of CaseWallet

I think the real success of bitcoin will be when it's the foundational layer on top of which applications and processes are built without people having to understand what that means.
Melanie Shapiro – Founder/CEO of CaseWallet

While we can attribute a lot of our early attention to stories of bitcoin scandal, Mt Gox, and high-profile arrests, the stories being told now are of how the technology could have the potential to bring efficiency to the financial industry.
Melanie Shapiro – Founder/CEO of CaseWallet

The reason you should care about bitcoin's success is not just because it can help reorganize how the financial industry is run, but because it can bring freedom and empowerment to the people who really need it
Melanie Shapiro – Founder/CEO of CaseWallet

To truly understand the impact (of Bitcoin), consider what the cellphone did for telecom. There are places in the world that completely skipped over traditional landline phones, mostly because it's a resource-intensive advancement, and went straight to cellphones. Bitcoin will be the technology that leaps over traditional banking in these same parts of the world.
Melanie Shapiro – Founder/CEO of CaseWallet

To me, bitcoin is just the denomination used to pay the toll to put stuff on the world's first completely transparent and immutable decentralized ledger - the blockchain.
Melanie Shapiro – Founder/CEO of CaseWallet

You'll hear the word 'decentralized' thrown around a lot when talking about bitcoin. The reason for this is that bitcoin is a decentralized asset that no one entity has control over. This might not seem important, but think about the people who live in places where that central entity that controls your currency is corrupt or unstable.
Melanie Shapiro – Founder/CEO of CaseWallet

If it was as simple as just giving people another way to buy a cup of coffee, I can promise you that no one in our ecosystem would be working this hard.
Melanie Shapiro – Founder/CEO of CaseWallet

It's not that we're trying to replace the current banking system or government; we're trying to work along side them to rethink current processes that are both inefficient and costly.  Neither side is going to get anywhere without working together. Ultimately, I think we're at a place now where goals are aligned on both sides.
Melanie Shapiro – Founder/CEO of CaseWallet

Regulation is a great thing for bitcoin. It gives me, and the rest of us principles by which we have to run our businesses. However, it's important that we are being regulated by people who understand the technology and can give us guidance without hindering innovation.
Melanie Shapiro – Founder/CEO of CaseWallet

It does worry me that bitcoin won't succeed, that something will stand in our way and we'll never see it live up to it's promise and this is sad because there are a lot of people who really need this to work.
Melanie Shapiro – Founder/CEO of CaseWallet

No one has sufficient self-interest to promote and protect Bitcoin, with an over-emphasis that it is a trustless system.
Alan Yong - Entrepreneur & DNotes Co-Founder

It is hard-earned money no matter what you call it; commodity, property, or virtual currency of no intrinsic value.
Alan Yong - Entrepreneur & DNotes Co-Founder

DNotes decided since day one that, to be successful, it must create a new culture. That new culture must be built with trust and integrity, promoting mutual respect and cooperation, collaborating in a highly productive environment, focusing on the accomplishment of long-term mutual benefits.
Alan Yong - Entrepreneur & DNotes Co-Founder

A small amount invested has the potential to make a big difference. Whereas, using fiat currency as a savings, the true impact is likely to be negative.
Alan Yong - Entrepreneur & DNotes Co-Founder

Our industry absolutely needs a drastic increase in women’s participation to gain mass acceptance.
Alan Yong - Entrepreneur & DNotes Co-Founder

With two simple cell phones, or computers with an Internet connection, one can be set up to send and receive funds and conduct global commerce, thereby solving the problems of the unbanked.
Alan Yong - Entrepreneur & DNotes Co-Founder

The main innovation stemming from Bitcoin is trustless transactions, meaning transactions are fully decentralized and do not rely on a central bank or government. Bitcoin also introduced the primary innovation of blockchain technology; a public ledger where all Bitcoin transactions are recorded indefinitely together with all Bitcoin 'blocks' that have been mined to secure the network.
Alan Yong - Entrepreneur & DNotes Co-Founder

Bitcoin will most likely go down in history as one of the greatest technology revolutions in history.
Alan Yong - Entrepreneur & DNotes Co-Founder

Once I started really digging into it, I came to realize that there are three aspects to Bitcoin that are interwoven and Bitcoin is most interesting because of them. They are: One, it’s an asset, like digital gold 2.0. Two, it’s a currency in as much as currency is like the digital app that allows you to begin to transact and trade. And, three, it’s also a platform where you can build financial and other products on top of it. These attributes all bound together are what convinced me that there’s a certainty that there will be at least one global cryptocurrency and that there’s a good argument that it’s Bitcoin, or that Bitcoin is one of them, if not THE one. And, if Bitcoin isn’t that global cryptocurrency, then something else will be.
Reid Hoffman - co-founder of LinkedIn, entrepreneur, venture capitalist and author.

It is a much more efficient way of moving money around the world
Tim Draper - Venture Capitalist

Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.
Edmund Moy - 38th Director of the United States Mint

Three eras of currency: Commodity based, e.g. Gold. Politically based, e.g. Dollar. Math based, e.g. Bitcoin.
Chris Dixon - Investor and Entrepreneur

Bitcoin is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value.
Eric Schmidt - Executive Chairman of Google

It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value.
David Marcus - Former President of PayPal

Bitcoin may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.
Ben Bernanke - Former Chairman of the US Federal Reserve

EVERY informed person needs to know about Bitcoin because it might be one of the world’s most important developments.
Leon Louw - two time Nobel Peace Prize nominee

Bitcoin, crypto currencies, solved this problem of coming to a consensus globally where you don’t trust anybody else
Richard Brown - Executive Architect for IBM UK

Bitcoin may be the TCP/IP of money
Paul Buchheit - Creator of Google’s Gmail Service

I think the fact that within the Bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool
Al Gore - Former US Vice President

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative
Nassim Taleb - Author and Risk Analyst

I think that the Internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing, but that will soon be developed, is a reliable e-cash…
Milton Friedman - Nobel-Prize Winning Economist

I do not take a position on Bitcoin and other proposed currencies in a technical fashion, but I understand the political ramifications of them and I think that government should stay out of them and they should be perfectly legal, even though I don't endorse (technically) one over another.
Ron Paul - Former Republican congressman, two-time Republican presidential candidate

The federal government, in considering any legislation, regulation and policies, create an environment that fosters innovation for digital currencies and their associated technologies. As such, the government should exercise a regulatory “light touch” that minimizes actions that might stifle the development of these new technologies.
Canadian Senate Recommendations

The federal government consider the use of blockchain technology when advantageous to deliver government services and to enhance the security of private information.
Canadian Senate Recommendations

The federal government, on an active and ongoing basis, work with other countries to formulate global guidelines for digital currencies while respecting the “light touch” premise outlined in Recommendation 1 above.
Canadian Senate Recommendations

[Digital Currencies] they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.
Ben Bernanke - Former Chairman of the US Federal Reserve

It will be everywhere and the world will have to readjust. World governments will have to readjust.
John McAfee - renowned information security pioneer and founder of McAfee

I think it is working. There will be other currencies like it that may be even better, but in the meantime there's a big industry around bitcoin.
Sir Richard Branson

As the industry continues to innovate, it’s important that regulators strike the right balance between encouraging responsible innovation and managing risk. Virtual currency, like bitcoin provides a good example.
Thomas Curry - Chief Officer OCC

[Chase]

Quotes

This is the article on Melanie Shapiro that provided the quotes: http://www.huffingtonpost.com/billrobinson/having-my-mind-changed-on_b_7613676.html

If you want to pare down the number of her quotes, here's a couple that could possibly go.

This one sounds similar to the bad news Silk Road quote of hers, except I like that one better because of her comment on anonymity:
"While we can attribute a lot of our early attention to stories of bitcoin scandal, Mt Gox, and high-profile arrests, the stories being told now are of how the technology could have the potential to bring efficiency to the financial industry."
Melanie Shapiro – Founder/CEO of CaseWallet

I don't think this quote is strong enough compared to the others we have:
"It does worry me that bitcoin won't succeed, that something will stand in our way and we'll never see it live up to it's promise and this is sad because there are a lot of people who really need this to work."
Melanie Shapiro – Founder/CEO of CaseWallet

[DNotes]

Quotes

This is the article on Melanie Shapiro that provided the quotes: http://www.huffingtonpost.com/billrobinson/having-my-mind-changed-on_b_7613676.html

If you want to pare down the number of her quotes, here's a couple that could possibly go.

This one sounds similar to the bad news Silk Road quote of hers, except I like that one better because of her comment on anonymity:
"While we can attribute a lot of our early attention to stories of bitcoin scandal, Mt Gox, and high-profile arrests, the stories being told now are of how the technology could have the potential to bring efficiency to the financial industry."
Melanie Shapiro – Founder/CEO of CaseWallet

I don't think this quote is strong enough compared to the others we have:
"It does worry me that bitcoin won't succeed, that something will stand in our way and we'll never see it live up to it's promise and this is sad because there are a lot of people who really need this to work."
Melanie Shapiro – Founder/CEO of CaseWallet

Thanks Chase, those are good picks to pull out. I'm going to have to pull the super long one from Reid Hoffman as well.

This one below may be a good removal candidate as well.

Bitcoin may be the TCP/IP of money
Paul Buchheit - Creator of Google’s Gmail Service

[Dyna]

From CryptoMoms Forum:

Quote from: Minty on August 22, 2015, 07:38:40 PM

CANADA - Computers For Schools

The government of Canada has a donation program where you can also get a tax receipt if it's the right kind of computer equipment.  It looks like there are donation dropoffs all over the country.  Pretty cool!

http://www.ic.gc.ca/eic/site/cfs-ope.nsf/eng/Home

Quote From Shepherd Today:

Thank you, Minty. I just visited their site. They have a great program going and their minimum requirements for acceptable computers are higher than I would have expected, meaning that they are good powerful computers even by today's standard.

I am sure that there are already programs of that nature collecting smart phones today. In a few years, I can see CryptoMoms leading the charge to contact telephone carriers like AT&T, Verizon and others on low cost airtime supported with donations from charity organizations and individual donors. Those smart phones can then be used to support some of the 2.5 million "unbanked" so that they can immediately become their own bankers using DNotes with internet connection. Here is another reason why DNotes is characterized as "the currency with a mission."

[DNotes]

Quotes

This is the article on Melanie Shapiro that provided the quotes: http://www.huffingtonpost.com/billrobinson/having-my-mind-changed-on_b_7613676.html

If you want to pare down the number of her quotes, here's a couple that could possibly go.

This one sounds similar to the bad news Silk Road quote of hers, except I like that one better because of her comment on anonymity:
"While we can attribute a lot of our early attention to stories of bitcoin scandal, Mt Gox, and high-profile arrests, the stories being told now are of how the technology could have the potential to bring efficiency to the financial industry."
Melanie Shapiro – Founder/CEO of CaseWallet

I don't think this quote is strong enough compared to the others we have:
"It does worry me that bitcoin won't succeed, that something will stand in our way and we'll never see it live up to it's promise and this is sad because there are a lot of people who really need this to work."
Melanie Shapiro – Founder/CEO of CaseWallet

Thanks Chase, those are good picks to pull out. I'm going to have to pull the super long one from Reid Hoffman as well.

This one below may be a good removal candidate as well.

Bitcoin may be the TCP/IP of money
Paul Buchheit - Creator of Google’s Gmail Service

Got all of those removed, did a few back end changes along with some recommendations via email. So we should be ready from my end for soft launch once we get a few more articles listed.

I will try to get the site listed as a news site on google/yahoo etc... We will have a press release I'm sure. Created a facebook and twitter page. Have any other ideas for promoting the site upon soft launch?