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

[Dyna]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

[KristinaHD]

"The Economist explains: How does Bitcoin work?"
http://www.economist.com/bitcoinexplained


I ran across this article looking for something else entirely. It's not a new article, but it is easy to read and easy to understand. The information is quite useful for a newcomer to crypto, so I thought I would share it with you.

This is my favorite quote in this article:

"Just as BitTorrent was not the first file-sharing service and Skype was not the first voice-over-internet service, it may be that Bitcoin will be a pioneer in the field of virtual currencies, but will be overshadowed by an easier-to-use rival."

Mmmmm....   DNotes maybeeee..

[KristinaHD]

In the last 30 days DCEBrief has received over 33,000 unique visitors according to cloudflare's statistics and the majority of the traffic comes from the US. About half of the traffic has come from direct hits, 35% from social media, and 15% from search.

That number is certain to grow as people talk about it at the water cooler. Nice to see some stats on this. 

Agreed, we will grow over time and gain momentum. Especially with the quality of content we are providing. Big thank you to our writers and contributors who are making this possible.

yeah i added to home web for when i start my broser just not like to loose good reads !

Thanks infovortice! That's a great idea.

DCEBrief.com has exploded! It's functional. It's educational. It's efficient. And it looks like everyone else thinks so too.

[DNotes]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

[KristinaHD]

http://youtu.be/YIVAluSL9SU

http://s1.postimg.org/jvq3xiypb/image.jpg
post images

Ran across this video on youtube today. It explains well how crypto can improve the economy and isn't just money. It tells how the blockchain technology can be used for many different purposes to make the world much more efficient, and since human error and greed can affect so called "trusted 3rd parties", it shows how the blockchain can ALWAYS be trusted.

This video is just 6 min long - go ahead and check it out, and share with others!

[DNotes]

http://youtu.be/YIVAluSL9SU


post images

Ran across this video on youtube today. It explains well how crypto can improve the economy and isn't just money. It tells how the blockchain technology can be used for many different purposes to make the world much more efficient, and since human error and greed can affect so called "trusted 3rd parties", it shows how the blockchain can ALWAYS be trusted.

This video is just 6 min long - go ahead and check it out, and share with others!

Kris, that is one of the better bitcoin/blockchain videos I've seen.

[IMZ]

Interesting discussion among my mob yesterday:

suppose you were a cynic, expecting serious financial trouble. The reputations of legacy financial institutions will weaken*; the attractiveness of cryptos will increase -- but not equally.

Coins like TittieCoin and CryptoMeth will attract attention last.

The stealth coins and the 'libertarian' coins will eventually do well.

But the coins that are likely to attract attention soonest are the 'corporate' coins. Paycoin won't -- but it was designed as a genuine 'corporate' coin. Ethereum has major backers, a plus for it in this respect. Doge warrants mention 'cause the Shibes will seize the day.

But Dnotes' raison d'etre, acceptance by the mainstream, puts it in the box seat!

*Some might say they already are weakening.
Mark

[KristinaHD]

http://youtu.be/YIVAluSL9SU

http://s1.postimg.org/jvq3xiypb/image.jpg
post images

Ran across this video on youtube today. It explains well how crypto can improve the economy and isn't just money. It tells how the blockchain technology can be used for many different purposes to make the world much more efficient, and since human error and greed can affect so called "trusted 3rd parties", it shows how the blockchain can ALWAYS be trusted.

This video is just 6 min long - go ahead and check it out, and share with others!

Kris, that is one of the better bitcoin/blockchain videos I've seen.

I thought so too. It breaks it down quite simply, and also goes a little (but not too far) into depth about alternate uses for blockchain and digital coins.

[Dyna]

Interesting discussion among my mob yesterday:

suppose you were a cynic, expecting serious financial trouble. The reputations of legacy financial institutions will weaken*; the attractiveness of cryptos will increase -- but not equally.

Coins like TittieCoin and CryptoMeth will attract attention last.

The stealth coins and the 'libertarian' coins will eventually do well.

But the coins that are likely to attract attention soonest are the 'corporate' coins. Paycoin won't -- but it was designed as a genuine 'corporate' coin. Ethereum has major backers, a plus for it in this respect. Doge warrants mention 'cause the Shibes will seize the day.

But Dnotes' raison d'etre, acceptance by the mainstream, puts it in the box seat!

*Some might say they already are weakening.
Mark

Mark, that is a fairly objective characterization of the financial world and our industry. Structurally, there are many cracks and stress marks all over. We can say with certainty that some will not be able to weather the incoming storms. To be specific and precise is a different ball game. We just don't know but not a bad idea to have an alternative backup plan.

Digital currency will not be the cure all any time soon. It could take decades to gain widespread mass acceptance but could happen a lot sooner if we position ourselves correctly and enough people can recognize the value and joining force with us to gain the network effect sooner than later. 

Your timing on this subject is almost perfect. We will be issuing a press release next week covering this subject and provide a glimpse of our strategic plans going forward.

Here is a small slice of my conceptual draft I submitted for editing: " Yong pointed out that our greatest challenge is dependent on our ability to understand the dynamics of the moving parts that collectively will have the most profound impact on the mass acceptance of digital currency and the countless new ways of doing business enabled by the Blockchain technology.

Subsequently, we must identify the constraints and obstacles confronting our path towards mass acceptance and map out strategies and viable plans to overcome them. Additionally, it is important for us to realize that we are now equipped to confront big global problems with big bold global solutions, not possible before. Being hyperconnected effectively removed proximity and national boundaries that were historical barriers. Online global collaboration a world apart is just as efficient as collaboration with one’s neighbor."

[Chase]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

[Dyna]

This is by no means a positive or an inspiring article. I hesitated if I should even post and comment on this. In my mind here is another “pioneer penalty” that should be added to Bitcoin’s long list of pitfalls causing it to stumble time and again, delaying or preventing mass acceptance altogether.

Bitcoin cannot blame the media for lack of coverage. There has been some news coverage about Bitcoin everyday; may be not by network TV, and not always the most complimentary, but none the less, it still helps this nascent industry to become known relatively quickly.

There has not been a shortage of investment poured into Bitcoin ecosystem either. As pointed out, BitPay alone raised $30 million and the industry as a whole have raised well over $1 billion, mostly venture capital (VC) money.  One would think that this is the smart money; since they typically have some of the smartest people on their team going over hundreds of business plans, and do, on average, one deal for every 100 they analyzed and scrutinized. BitPay is indeed the leading Bitcoin payment processor. For that alone, it is very telling that Bitcoin is not ready to go prime time as a medium of exchange and I do not see any plan to help Bitcoin get there.

This was part of my message when I made my presentation at NASDAQ on June 22, 2015 and it still holds true today:

“The Currency:  As the pioneer, Bitcoin has struggled as a currency with countless negative headlines. It is failing to meet the full functions of money. It has been struggling to gain mass acceptance as it has been too volatile as a store of value and medium of exchange. It seems to have settled with a limited purpose as a speculative trading vehicle.”

At DNotes, we believe that meeting the full functions of money, as a unit of account, as a medium of exchange and as a store of value, is critical for DNotes to be successful as the trusted global digital currency for everyone. The “jewel” is in the medium of exchange but achieving mass acceptance to use DNotes as the medium of exchange is one of the biggest challenges in the world of commerce and seriously under estimated. I personally believe that it has to be engineered with a very complex sustainable plan, systematically executed over an extended period of time. It takes a tremendous amount of ingenuity, hard work and tenacity few would care to commit.

DNotes has been doing precisely that by virtual of our growing ecosystem. It is a huge commitment on our part. It has the least short term payoff but absolutely essential for DNotes to be superior to fiat currency without a doubt, in the minds of reasonable people, one day. Most likely, the values and the importance of DNotes ecosystem are not even reflected in the price of DNotes. With mass acceptance, DNotes will become most valuable when the vast majority of the transactions are between two parties with nearly zero transaction cost. At that point nothing else can beat it. Though not obvious, that is the value of DNotes in contrast to other digital currencies, including Bitcoin.

*************************

The Troubles of “Bitcoin’s PayPal” Show
Why the Cryptocurrency Is Not a Good Payment Mechanism

Leading Bitcoin startup BitPay is cutting costs, suggesting that the currency won’t be catching on soon.
In 2014, a Bitcoin startup called BitPay raised $30 million from investors and was dubbed the “PayPal of Bitcoin” for helping companies such as Microsoft accept payments in the digital currency. But 2015 has been less kind. Last week BitPay made significant layoffs, and earlier in the month it admitted to having $1.8 million in Bitcoins stolen.

The company’s travails neatly demonstrate two problems with Bitcoin as a currency and payment mechanism.

First, no one much wants to pay with Bitcoin and there’s not currently good reason to think that will change. BitPay’s business model was to help merchants take Bitcoin payments—often converting them directly into dollars—and take a cut of transactions. The company has enabled Microsoft, retailer Newegg, and many other companies accept Bitcoin payments.

Unfortunately for BitPay, just about no one gets paid in bitcoins, and for most people there are not clear reasons to bother with the trouble of buying bitcoins just to spend them again. The people with the best incentive to buy stuff with the currency are those who bought it several years ago and are now cashing out their gains after Bitcoin’s rise in value.

BitPay’s CEO Stephen Pair admitted as much in June, when he told BusinessInsider that the company was trying to find another business model. “We keep adding merchants—we’re up to over 60,000 now—but they’re selling to the same pool of Bitcoin early adopters.”

Gavin Andresen, who in 2010 was picked by Bitcoin’s mysterious inventor to lead work on its code, recently told me that he didn’t see that changing soon (see “The Looming Problem That Could Kill Bitcoin”). “Until part of your paycheck is regularly paid in Bitcoin, I’m not sure how it would really go mainstream,” he said.

BitPay’s embarrassing loss of 5,000 Bitcoins worth $1.8 million, revealed in court documentsthis month, highlights another challenge facing both the company and the idea of Bitcoin as a currency. The thief was able to trick BitPay’s CEO into transferring the funds just by sending e-mails from the account of his CFO.

That reflects badly on BitPay’s compliance mechanisms. It also adds to the short but very rich history of spectacular Bitcoin thefts (see “Bitcoin’s Rise Constrained by Heists and Lost Fortunes”). They suggest that the currency’s design is not well suited to being used like conventional digital payment and money tools. Although digital, bitcoins are like cash in that transactions cannot be reversed if something goes wrong. Researcher Nicholas Weaver at the International Computer Science Institute has called that Bitcoin’s “fatal flaw.” Conventional electronic transactions such as credit card charges and bank transfers can all be undone if fraud is detected.

All this presents a big headache for BitPay—and for many other people and companies betting on the idea that Bitcoin would become a widely used payment mechanism. In addition, the Bitcoin community is currently faced with tough decisions about adjusting the cryptocurrency’s design (see “Leaderless Bitcoin Struggles to Make Its Most Crucial Decision”).

The e-mail BitPay’s CEO sent to his staff announcing layoffs last week said that the company needed to “reduce costs” so as to “better align with the pace of growth” in the Bitcoin industry. BitPay may have stumbled for reasons specific to the company. Or we might see other companies start to show the strain as hopes that Bitcoin would quickly gain traction as a currency and payment mechanism prove to be false.

Source:

http://www.technologyreview.com/view/541901/the-troubles-of-bitcoins-paypal-show-why-the-cryptocurrency-is-not-a-good-payment/

Tom Simonite
September 29, 2015

[KristinaHD]

THIRTEEN MORE TOP BANKS JOIN R3 BLOCKCHAIN CONSORTIUM



http://s12.postimg.org/pkbrv264t/image.jpg
image hosting 10mb limit



http://www.reuters.com/article/2015/09/29/banks-blockchain-idUSL5N11Z2QE20150929?type=companyNews

"  R3's Chief Technology Officer Richard Brown, who joined the company last month from IBM, told Reuters the technology could bring banks significant savings by making their systems more efficient and transparent, with less risk of error.

"Over decades banks and other firms have built systems for themselves ... and then a collection of processes has emerged between the banks ... to make sure these systems are kept synchronised and are reconciled with each other," he said.

"With shared or distributed ledgers perhaps we can imagine a world where participants share this infrastructure, so rather than everyone running their own systems that have to be reconciled, we can have ... an open platform that multiple firms can connect to."  "



Good morning, all. Looks like there's more coverage on the big banks adopting Blockchain technology. Thanks, big banks, for helping to bring awareness to blockchain and cryptocurrency!!

[DNotes]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

[Dyna]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

Sounds great to me. Need more feed back though.

[Chase]

This is by no means a positive or an inspiring article. I hesitated if I should even post and comment on this. In my mind here is another “pioneer penalty” that should be added to Bitcoin’s long list of pitfalls causing it to stumble time and again, delaying or preventing mass acceptance altogether.

Bitcoin cannot blame the media for lack of coverage. There has been some news coverage about Bitcoin everyday; may be not by network TV, and not always the most complimentary, but none the less, it still helps this nascent industry to become known relatively quickly.

There has not been a shortage of investment poured into Bitcoin ecosystem either. As pointed out, BitPay alone raised $30 million and the industry as a whole have raised well over $1 billion, mostly venture capital (VC) money.  One would think that this is the smart money; since they typically have some of the smartest people on their team going over hundreds of business plans, and do, on average, one deal for every 100 they analyzed and scrutinized. BitPay is indeed the leading Bitcoin payment processor. For that alone, it is very telling that Bitcoin is not ready to go prime time as a medium of exchange and I do not see any plan to help Bitcoin get there.

This was part of my message when I made my presentation at NASDAQ on June 22, 2015 and it still holds true today:

“The Currency:  As the pioneer, Bitcoin has struggled as a currency with countless negative headlines. It is failing to meet the full functions of money. It has been struggling to gain mass acceptance as it has been too volatile as a store of value and medium of exchange. It seems to have settled with a limited purpose as a speculative trading vehicle.”

At DNotes, we believe that meeting the full functions of money, as a unit of account, as a medium of exchange and as a store of value, is critical for DNotes to be successful as the trusted global digital currency for everyone. The “jewel” is in the medium of exchange but achieving mass acceptance to use DNotes as the medium of exchange is one of the biggest challenges in the world of commerce and seriously under estimated. I personally believe that it has to be engineered with a very complex sustainable plan, systematically executed over an extended period of time. It takes a tremendous amount of ingenuity, hard work and tenacity few would care to commit.

DNotes has been doing precisely that by virtual of our growing ecosystem. It is a huge commitment on our part. It has the least short term payoff but absolutely essential for DNotes to be superior to fiat currency without a doubt, in the minds of reasonable people, one day. Most likely, the values and the importance of DNotes ecosystem are not even reflected in the price of DNotes. With mass acceptance, DNotes will become most valuable when the vast majority of the transactions are between two parties with nearly zero transaction cost. At that point nothing else can beat it. Though not obvious, that is the value of DNotes in contrast to other digital currencies, including Bitcoin.

*************************

The Troubles of “Bitcoin’s PayPal” Show
Why the Cryptocurrency Is Not a Good Payment Mechanism

Leading Bitcoin startup BitPay is cutting costs, suggesting that the currency won’t be catching on soon.
In 2014, a Bitcoin startup called BitPay raised $30 million from investors and was dubbed the “PayPal of Bitcoin” for helping companies such as Microsoft accept payments in the digital currency. But 2015 has been less kind. Last week BitPay made significant layoffs, and earlier in the month it admitted to having $1.8 million in Bitcoins stolen.

The company’s travails neatly demonstrate two problems with Bitcoin as a currency and payment mechanism.

First, no one much wants to pay with Bitcoin and there’s not currently good reason to think that will change. BitPay’s business model was to help merchants take Bitcoin payments—often converting them directly into dollars—and take a cut of transactions. The company has enabled Microsoft, retailer Newegg, and many other companies accept Bitcoin payments.

Unfortunately for BitPay, just about no one gets paid in bitcoins, and for most people there are not clear reasons to bother with the trouble of buying bitcoins just to spend them again. The people with the best incentive to buy stuff with the currency are those who bought it several years ago and are now cashing out their gains after Bitcoin’s rise in value.

BitPay’s CEO Stephen Pair admitted as much in June, when he told BusinessInsider that the company was trying to find another business model. “We keep adding merchants—we’re up to over 60,000 now—but they’re selling to the same pool of Bitcoin early adopters.”

Gavin Andresen, who in 2010 was picked by Bitcoin’s mysterious inventor to lead work on its code, recently told me that he didn’t see that changing soon (see “The Looming Problem That Could Kill Bitcoin”). “Until part of your paycheck is regularly paid in Bitcoin, I’m not sure how it would really go mainstream,” he said.

BitPay’s embarrassing loss of 5,000 Bitcoins worth $1.8 million, revealed in court documentsthis month, highlights another challenge facing both the company and the idea of Bitcoin as a currency. The thief was able to trick BitPay’s CEO into transferring the funds just by sending e-mails from the account of his CFO.

That reflects badly on BitPay’s compliance mechanisms. It also adds to the short but very rich history of spectacular Bitcoin thefts (see “Bitcoin’s Rise Constrained by Heists and Lost Fortunes”). They suggest that the currency’s design is not well suited to being used like conventional digital payment and money tools. Although digital, bitcoins are like cash in that transactions cannot be reversed if something goes wrong. Researcher Nicholas Weaver at the International Computer Science Institute has called that Bitcoin’s “fatal flaw.” Conventional electronic transactions such as credit card charges and bank transfers can all be undone if fraud is detected.

All this presents a big headache for BitPay—and for many other people and companies betting on the idea that Bitcoin would become a widely used payment mechanism. In addition, the Bitcoin community is currently faced with tough decisions about adjusting the cryptocurrency’s design (see “Leaderless Bitcoin Struggles to Make Its Most Crucial Decision”).

The e-mail BitPay’s CEO sent to his staff announcing layoffs last week said that the company needed to “reduce costs” so as to “better align with the pace of growth” in the Bitcoin industry. BitPay may have stumbled for reasons specific to the company. Or we might see other companies start to show the strain as hopes that Bitcoin would quickly gain traction as a currency and payment mechanism prove to be false.

Source:

http://www.technologyreview.com/view/541901/the-troubles-of-bitcoins-paypal-show-why-the-cryptocurrency-is-not-a-good-payment/

Tom Simonite
September 29, 2015

I read this as well this morning and thought the same thing about posting it - more bitcoin bad news isn't good for the industry.  I am glad you posted the article though, because it's important for everyone to understand why bitcoin is struggling.  We have discussed this before regarding premature merchant adoption, and I believe this story represents the fallout of it.  When DNotes is ready to push for merchant adoption, there will be things the merchant can do with the DNotes such as CRISPs for employee benefits, retirement, and probably a portion of wages in the not to distant future.

Bitcoin has always seemed so 'scattered' (the nature of crypto, I guess), with no clear leadership or master plan, and the resulting uphill battle is going to be a steep one.

I also find this very disturbing:  "The thief was able to trick BitPay’s CEO into transferring the funds just by sending e-mails from the account of his CFO."  REALLY???

[Chase]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

Sounds great to me. Need more feed back though.

I agree - it sounds great!

You mentioned before that people would not be limited to one entry.  Do you want them spaced out, such as 1 or 2 per week?

If we are trying to get as much coverage as we can, should we do anything for the most amount of shares?

[DNotes]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

Sounds great to me. Need more feed back though.

I agree - it sounds great!

You mentioned before that people would not be limited to one entry.  Do you want them spaced out, such as 1 or 2 per week?

If we are trying to get as much coverage as we can, should we do anything for the most amount of shares?

It may not be necessary to spread them out. If they are following the contest, as we post new articles during the month, they will want to share those as well.

The top sharers getting a reward is a great idea. How about if we make half the 1,000 prizes to the top 5 sharers?

[Chase]

THIRTEEN MORE TOP BANKS JOIN R3 BLOCKCHAIN CONSORTIUM




image hosting 10mb limit



http://www.reuters.com/article/2015/09/29/banks-blockchain-idUSL5N11Z2QE20150929?type=companyNews

"  R3's Chief Technology Officer Richard Brown, who joined the company last month from IBM, told Reuters the technology could bring banks significant savings by making their systems more efficient and transparent, with less risk of error.

"Over decades banks and other firms have built systems for themselves ... and then a collection of processes has emerged between the banks ... to make sure these systems are kept synchronised and are reconciled with each other," he said.

"With shared or distributed ledgers perhaps we can imagine a world where participants share this infrastructure, so rather than everyone running their own systems that have to be reconciled, we can have ... an open platform that multiple firms can connect to."  "



Good morning, all. Looks like there's more coverage on the big banks adopting Blockchain technology. Thanks, big banks, for helping to bring awareness to blockchain and cryptocurrency!!

It's funny how the attitude of the banks has done a complete turn around since last year. 

I'm going to keep an eye on the Royal Bank of Canada (RBC) and Toronto Dominion Bank to see when they start offering mutual funds that contain cryptocurrency and blockchain companies.  I have been an RBC customer for a very long time and they seem to start a mutual fund for everything 'new'.  I'm guessing they will adopt the technology companies first and wait until they find a currency that is proven to be trustworthy and stable.

[Chase]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

Sounds great to me. Need more feed back though.

I agree - it sounds great!

You mentioned before that people would not be limited to one entry.  Do you want them spaced out, such as 1 or 2 per week?

If we are trying to get as much coverage as we can, should we do anything for the most amount of shares?

It may not be necessary to spread them out. If they are following the contest, as we post new articles during the month, they will want to share those as well.

The top sharers getting a reward is a great idea. How about if we make half the 1,000 prizes to the top 5 sharers?

How about if we make half the 1,000 prizes to the top 5 sharers?  -  That sounds great.

I just realized something - we are paying people in DNotes to enter a contest to win more DNotes - how often does that happen?? 

[DNotes]

I am considering setting up a social sharing contest. We can do it a couple of different ways.

1) Pay each user that shares an article on social a certain amount of DNotes.

2) Each social media share gives you one entry for a bigger DNotes prize.

Or even a combination of a small award for each share, and an entry for a slightly smaller big prize.

What does everyone think would be the best way?

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

The budget will be 25,000 DNotes.

If everyone can give me their thoughts on how to distribute the rewards/prizes.

We also need to limit the amount of entries that have a direct bounty. For example, every entry will be added to the drawing for the contest prizes, however maybe only the first 10,000 entries would get an amount of DNotes for each social share.

Users wouldn't limited to 1 entry, let's say we decide to run the contest for a month, they could retweet 5 different articles during that month and/or share on FB 3 different articles and/or share 10 articles on G+.

The idea would be to get maximum exposure.

"Or even a combination of a small award for each share, and an entry for a slightly smaller big prize."  - I like this idea as well. 

"We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations."  - Someday, everyone will have a DNotesVault account, and all prizes and giveaways can be done using timed send or as a deposit into a retirement account of their choice.

How does this sound?

10 DNotes per social share. Could be a retweet, FB share, or G+ share. The first 1000 social shares will be paid directly, but every social share counts as an entry into a random drawing for 10 prizes of 1,000 DNotes, and one large prize of 5,000 DNotes.

The rules would be to go to the site, and share any and all articles they wish using the share buttons at the bottom of the page.

The contest will last 1 month. They must provide links to all social shares as proof.

Sounds great to me. Need more feed back though.

I agree - it sounds great!

You mentioned before that people would not be limited to one entry.  Do you want them spaced out, such as 1 or 2 per week?

If we are trying to get as much coverage as we can, should we do anything for the most amount of shares?

It may not be necessary to spread them out. If they are following the contest, as we post new articles during the month, they will want to share those as well.

The top sharers getting a reward is a great idea. How about if we make half the 1,000 prizes to the top 5 sharers?

How about if we make half the 1,000 prizes to the top 5 sharers?  -  That sounds great.

I just realized something - we are paying people in DNotes to enter a contest to win more DNotes - how often does that happen?? 

Lol. Not very often.

Giving away DNotes has never been a problem if they wind up in the hands of strong supporters.