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

[DNotes]

I feel the article and comments here warrant p a t i e n t reading:

https://www.reddit.com/r/ethereum/comments/3u2ka6/the_bis_report_bankers_show_their_teeth/

It really sounds like confidence in Bitcoin is growing. I agree with the general theme of the discussion, that a battle with Bitcoin is one that bankers are certain to lose. Their best hope is to work with the industry and help it flourish.

It will be interesting to see how this plays out. They pointed out existing regulatory frameworks don't exactly fit, I think that is because they want to regulate the currency itself and can't. AML and KYC regulations exist in the financial services world, which digital currencies will still have financial services and those financial services institutions will have to follow those same rules. Any excessive regulation will have to apply across the board, to fiat as well as digital currency and I don't think people would put up with a straight out ban or regulation exclusive to digital currency. So the options are make it more difficult across the board, or jump on the train.

[DNotes]

Hope everyone had a great Thanksgiving surrounded by family and friends!

[Dyna]

Here is a rather rosy report about the future of Bitcoin. Our industry will that all the good news it can get. Just notice that everyone is pushing the mass acceptance forward. It always takes longer.

BITCOIN PROJECTED TO BE SIXTH LARGEST GLOBAL RESERVE CURRENCY BY 2030

Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs.
 
Block chain is “without question” the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on a par with big data and machine learning. He compared the block chain to JAVA, saying that the block chain is to financial services what JAVA is to the Internet. Millar also noted that the block chain will be the “default global standard distributed ledger” for financial transactions.
$1 Billion To Be Invested Short Term

The leading 100 financial institutions will pump $1 billion into block chain and bitcoin related projects in the next one to two years, the research indicated. It also found that the top banks hold portfolios with 10 to 20 bitcoin-related initiatives. These include wire transfers often complemented by the storage of “meta data” in settlement and clearing.

The block chain’s potential in finance is even greater due to its flexibility and robustness, the research indicated. Potential uses include property registries, security infrastructure and direct payments.
The top private block chain firms are currently securing “seven figure” contracts with financial institutions. Some of the initiatives have proven to be robust enough to satisfy production needs and are “near production.”

Banks will be reluctant at first to change the infrastructure that manages clearance and settlement, Millar said, but they will deploy parallel bock chain processes as a result of the growing block chain investment.

Developing Markets To Adopt Bitcoin Quickly

Rising acceptance of bitcoin in developing markets will result in widespread business and consumer adoption.

The main use of bitcoin in developed markets is speculation, the research noted. The lack of volatility in bitcoin and the yield in traditional classes of assets are resulting in the creation of ETF equivalents or “money market funds.” The company estimates 90 percent of bitcoin is held for speculation as opposed to commercial transactions.

At the same time, estimates indicate 90 percent of bitcoin transactions by volume are commercial ones, oftentimes in developing countries.

Futures trading volumes are triple or more the volumes on stock exchanges, Millar said, noting that it is important not to underestimate the significance of speculation by traders.

Some large wallets report that 90 percent of bitcoin transactions take place in developing markets. Major bitcoin remittance players include Abra, Atlas and Bitpesa.

With 2 million smartphones becoming active daily and with corruption a factor in developing economies, the question arises: why have a bank account?


1 Million Daily Bitcoin Transactions
Data from blockchain.info reports there are close to 120,000 daily bitcoin transactions, Magister Advisors notes. However, this number under-reports the total transactions since it doesn’t include 300,000 “off chain” transactions by major wallet/vault companies like Xapo, Circle and Coinbase. The number of daily transactions is closer to 1 million, according to Millar.

Source:
https://www.cryptocoinsnews.com/bitcoin-projected-sixth-largest-global-reserve-currency-2030/

[DNotes]

Thanks. We'll try that. At least we'll know whether it works or not with a new wallet.

Just sent you a PM with the download link. Feel free to let us know how it worked out.

[Chase]

This is worth watching - Reggie Middleton youtube video on what's wrong with private blockchains:


https://www.youtube.com/watch?v=o7kD9HCFjHw

[DNotes]

Bitcoin Weekly Recap 11-27-2015

Coinbase and Shift Unveil VISA Bitcoin Debit Card.
Bitwage Payroll Firm Announces 760k in Fundraising.
Andresen Suggests He May Take Lead on Bitcoin XT.
Bitcoin Bounty Offered to Catch Website Attacker.

http://dcebrief.com/bitcoin-weekly-recap-11-27-2015/

[DNotes]

This is worth watching - Reggie Middleton youtube video on what's wrong with private blockchains:


https://www.youtube.com/watch?v=o7kD9HCFjHw

Definitely, only 3 minutes, well worth watching.

Really good comparison between private and decentralized blockchains.

[Dyna]

This is worth watching - Reggie Middleton youtube video on what's wrong with private blockchains:


https://www.youtube.com/watch?v=o7kD9HCFjHw

Great video. Blockchain may be called by different names, but centralized currency does not become decentralized currency by being routed through blockchain ledger. It will save participating banks time and money, allowing them to save on payroll by reducing employee head counts. Consumers are not likely to see reduction in fees as banks struggle to adjust and survive in a new era of exploding new financial technologies (FinTech).

[DNotes]

This is pretty incredible, a $65 monthly fee to trade bitcoin? That is the highest fee I've heard of for any kind of trading account, though I must admit I have limited exposure.

Coinsetter Blames Bitcoin Compliance Costs for New Account Fees

New York-based bitcoin exchange Coinsetter has instituted a new $65-per-month account fee, a move it says is aimed at offsetting its compliance costs.

In an email addressed to users and circulated on social media, Coinsetter told users that it was instituting the fee in a bid to "compensate for the increasing costs of holding bitcoin accounts in a US-based setting". The new fee is scheduled to go into effect on 1st December.

When reached for comment, the exchange confirmed the new fee and that proceeds would be used to defray compliance costs.

"The cost of maintaining smaller accounts is too expensive in the current environment," CEO Jaron Lukasiewicz told CoinDesk, acknowledging that the move would likely cost Coinsetter its retail customer base:

"This fee is necessary for us to compensate for the increasing costs of holding bitcoin accounts in a US-based setting, and we anticipate that most retail traders will withdraw their funds and move to another exchange.”

http://www.coindesk.com/coinsetter-bitcoin-compliance-costs-account-fees/

[kpoleau]

Thanks. We'll try that. At least we'll know whether it works or not with a new wallet.

Just sent you a PM with the download link. Feel free to let us know how it worked out.

It worked !
I think this can be a workaround for poeple with the same sync issues.

[DNotes]

Thanks. We'll try that. At least we'll know whether it works or not with a new wallet.

Just sent you a PM with the download link. Feel free to let us know how it worked out.

It worked !
I think this can be a workaround for poeple with the same sync issues.

Great! Thanks for reporting back. It may be helpful in the future.

[DNotes]

Blockchain Weekly Recap 11-28-2015

Lloyd’s: Blockchain Could Help Resolve Insurance Industry Challenges.
Bitcoin and Beyond: Israeli Conference Shines Spotlight on Blockchain.
Bank of England Seeking Interns Familiar with Blockchain.
Visa Europe Tests Blockchain Proof of Concept for Remittances.
Next up For Blockchain: Student Government Voting?
ECOM21 2015 Gives Baltic Nations New Insight Into Blockchain.

http://dcebrief.com/blockchain-weekly-recap-11-28-2015/

[Dyna]

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

[TeeGee]

This is worth watching - Reggie Middleton youtube video on what's wrong with private blockchains:


https://www.youtube.com/watch?v=o7kD9HCFjHw

Great video. Blockchain may be called by different names, but centralized currency does not become decentralized currency by being routed through blockchain ledger. It will save participating banks time and money, allowing them to save on payroll by reducing employee head counts. Consumers are not likely to see reduction in fees as banks struggle to adjust and survive in a new era of exploding new financial technologies (FinTech).

Exactly! Couldn't have said it better. So long as there is no true competitor to the monopoly on the monetary system, consumers of money (everybody) will continue to be forced to pay bank fees far beyond what a competitive market would provide. Banks will enjoy using the word 'efficiency' to promote their new innovation, however it just simplifies, and streamlines their services while not providing the consumer any benefit.

Sometimes I wonder whether the current 'need' is to have just one country in the world to come out being 'extremely pro' digital currency, one that will not impose strict regulations, nor vague regulatory wording that allows banks to stomp out the purchase of digital currency. The first country to do so would see MASSIVE capital inflows from overseas, even if the businesses that facilitated the transaction but took a small percentage fee in profit - that nation would stand to benefit immensely. Perhaps I'll mention it in my seminar on 'What could make NZ more prosperous? - The blockchain future'. Only one country would require significant lobbying and education to get these types of regulatory hurdles removed, and it could make life easier for everybody worldwide. Alternatively, if no country will cooperate, what about a bank that operates from a ship in international waters, just off the coast of say California? (I heard they plan to build a massive ship to be used as a city 10km from California's shore). If regulators will not get on side, the community will need to get creative to facilitate the financial on-ramp / off-ramp between fiat and digital currency. That is, until digital currency is accepted as wages and globally accepted! For now though, let's not use hope, there are plenty of smaller nations (like New Zealand), that I think could provide a realistic shot at getting this to work. However, given NZ is signatory to the TPPA...

Anyway, I will continue to think on this.  

[TeeGee]

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

No concern here, I certainly wouldn't sell any of mine, I just see an opportunity to buy! It would only take like... 2 btc and the price would be back at 4000 satoshi. I would purchase all that if I could!

The value of the various web properties created is definitely not factored into the price of DNotes, and that shouldn't really be a surprise - DNotes has not yet pushed to become a mainstream currency, and has not yet enjoyed the hysteria and growth associated with a successful marketing push one could expect to accompany such a plan (with funding). The web-properties however, will serve an important function in advertising the benefits of DNotes over other digital payment mediums at the most opportune time. As per usual, the selling is probably just a bot that needs to be reckoned with, and there is no point in feeding it. For now, DNotes is a speculative asset, and as such, it is much better for sellers to transfer their DNotes into the hands of others who will value them longer-term.

Build the infrastructure before it is needed, not after it is announced in the media you have been given funding - while everybody is wondering who you are, and what you're going to do just because you raised $xyz.

[wiser]

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring.

[Dyna]

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring.

Next fell from $14 million, last July to $6.1 million today. It was at $73 million in May 2014. Many other altcoins have done as badly or worse. I am fairly confident that DNotes will be testing the last low of $730,000 (January 2014) and should start recovering from that point. Until the fundamental values can be substantiated by a profitable company, reliable stability is simply not achievable. I was hopeful that investors can see the value of our ecosystem. Perhaps not. But until stability can be contained, mass acceptance of any digital currency is not achievable. We strongly believe that our long term business model is correct and promoting DNotes as a medium of exchange prematurely is not a viable idea. Strategically, we are absolutely on the right track. Those who can see the value in what we are doing will hang on to their DNotes. The rest of them may not be as patience.

[Chase]

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring.

Next fell from $14 million, last July to $6.1 million today. It was at $73 million in May 2014. Many other altcoins have done as badly or worse. I am fairly confident that DNotes will be testing the last low of $730,000 (January 2014) and should start recovering from that point. Until the fundamental values can be substantiated by a profitable company, reliable stability is simply not achievable. I was hopeful that investors can see the value of our ecosystem. Perhaps not. But until stability can be contained, mass acceptance of any digital currency is not achievable. We strongly believe that our long term business model is correct and promoting DNotes as a medium of exchange prematurely is not a viable idea. Strategically, we are absolutely on the right track. Those who can see the value in what we are doing will hang on to their DNotes. The rest of them may not be as patience.

DNotes is at the stage in which an investor not familiar with crypto decides they want to invest in DNotes, they really don't care whether the price is 1 cent or 1.5 cents.  They want $200+ worth and are thrilled when they get 10 or 20 thousand.  Four big buys on a Friday can drive the price up 40% only to fall back down until the next round of investors discover DNotes.  We will keep seeing this until the 'steady savers' enter the picture and start using the CRISPs as the long term savings plans they were designed to be.  Steady monthly deposits by thousands of people to their CRISP will level this volatility out in a hurry.  Only DNotes has this feature.

As time progresses, it will be easier to purchase DNotes, more people will enter the cryptocurrency world, and all of DNotes' works in progress will start making it obvious why DNotes is the most undervalued cryptocurrency there is.

I think Wiser may be right on the Christmas shopping at least for some people.  This has happened before where someone decided to sell their DNotes because they needed something, with the intention of buying them back later, only to have the price go way up.  

I am very confident we are all doing things right at DNotes!!  

[wiser]

Next fell from $14 million, last July to $6.1 million today. It was at $73 million in May 2014. Many other altcoins have done as badly or worse. I am fairly confident that DNotes will be testing the last low of $730,000 (January 2014) and should start recovering from that point. Until the fundamental values can be substantiated by a profitable company, reliable stability is simply not achievable. I was hopeful that investors can see the value of our ecosystem. Perhaps not. But until stability can be contained, mass acceptance of any digital currency is not achievable. We strongly believe that our long term business model is correct and promoting DNotes as a medium of exchange prematurely is not a viable idea. Strategically, we are absolutely on the right track. Those who can see the value in what we are doing will hang on to their DNotes. The rest of them may not be as patience.

I think the main factor is there is lots of competition right now. Lots of other coins, some new, which have potential. Sometimes people dump one to invest in another, though that's not usually a good long term strategy. DNotes is taking the time to establish a great infrastructure, but that means in the mean time it might temporarily be shown up by other coins which are moving faster in their development. A drop in price can be discouraging but it's important to stay focused on the long term vision and keep following the plan.

[IMZ]

‘Strategically, we are absolutely on the right track.’

What is noteworthy here is the cool-headedness of the conversation. Yup, our resolve gonna be tested!

Here’s my two cents’ worth:

the alt-to-Btc ratio has slipped under 9%. That is, everyone is crowded over by the Bitcoin-back-to-dollars doorway.

Why? Well, the Big Sideways is over. We are now forever beyond mere guy-in-mom’s-basement geekdom. Meanwhile, though, negative and distracting forces abound, so players want to be able to nip in and out of fiat.

However, when Bitcoin’s price begins to steadily – ‘organically’ – rise*, capital will flow unto the alts.

(Ian and I have seen the alt-Btc ratio at 25-75%.)

Mark (IndiaMikeZulu), Australia

*[Sigh] 2016 is shaping up to be economically ugly = good for cryptos.