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

[psybits]

I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.

[DNotes]

I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.

Good to see you psybits, thank you for the kind words. We are working hard to ensure 2016 is a great year for DNotes.

[RJF]

http://dcebrief.com/john-mcafee-warns-against-being-bullish-on-bitcoin/

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

[Bergman]

http://dcebrief.com/john-mcafee-warns-against-being-bullish-on-bitcoin/

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.

[RJF]

http://dcebrief.com/john-mcafee-warns-against-being-bullish-on-bitcoin/

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.

You are correct, there will be many, some successful, some not. DNotes will succeed. DNotes has always had a plan and, they stick to it and, it's a plan for the success of all involved, that's what makes NOTE different. There are more committed, intelligent, experienced and capable people behind DNotes than almost all other offerings in the crypto-sphere.  All I'm saying is to not put all your trust in John's conclusions... On anything!

[Chase]

This is a good article even if it seems at odds with an industry that is anything but up close and personal.


Word of Mouth Marketing Is A Powerful Tool For Bitcoin Companies

http://digitalmoneytimes.com/11993-2/

[Dyna]

I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.

Thanks, for visiting us psybits. Being someone who has been actively involved in our industry since 2012, I trust that you have seen it all. As it has been apparent recently, DNotes has selected not just a different path, but a lonely path. In many ways we have been going against the grain. Focusing in foundation building to achieve long term strategic vision is obviously not that exciting in our industry. So for better or for worse, DNotes is in sleeper mode.

DNotes has been casting a very wide net. Everything that we doing are strategically linked. Irrespective of how the market is pricing DNotes these days we have been making progress constantly in multiple fronts. 2016 will be a great year for us. The buying opportunity for DNotes at this price may continue for a few more months. Things could change fairly quickly once other projects are lunched.

[Dyna]

http://dcebrief.com/john-mcafee-warns-against-being-bullish-on-bitcoin/

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.

You are correct, there will be many, some successful, some not. DNotes will succeed. DNotes has always had a plan and, they stick to it and, it's a plan for the success of all involved, that's what makes NOTE different. There are more committed, intelligent, experienced and capable people behind DNotes than almost all other offerings in the crypto-sphere.  All I'm saying is to not put all your trust in John's conclusions... On anything!

Thanks for your confidence and support, RJF. I am surprised that the price of DNotes has drifted this low. Obviously, not enough investors understand or value our long term projects we consider vital to our long term success. Our priorities are uniquely different. We are investing for the long term to give DNotes the best chance of gaining mass acceptance one day. Our industry is more short term oriented; hence the mismatch.

[Dyna]

This is a good article even if it seems at odds with an industry that is anything but up close and personal.


Word of Mouth Marketing Is A Powerful Tool For Bitcoin Companies

http://digitalmoneytimes.com/11993-2/

In practice, gaining any meaningful amount of "word of mouth" is extremely difficult and seldom happen. The book I am working on could be our best vehicle to facilitate favorable word of mouth promotion for DNotes. It could happen as a bi-product of our sincere efforts to assist small business owners.

The book is shaping up very well and could be quite unique with great potential. I am introducing a new concept for employee performance appraisal, which has always been an unresolved challenge for most companies. There has been some success among a small percentage of the larger companies in incorporating "Management By Objectives (MBO)" and more recently "Balanced Scorecard" but for the most part small business owners have continued their struggle on how to evaluate employee's performance objective.

[wiser]

Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

[Chase]

Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

While we were all suspicious of what was going on, I was hoping for the sake of the industry, that they would get their act together.  Why are we just finding out about 10,000 missing Bitcoin now??

"Here are our options:
1.   We shut down the website and file bankruptcy, letting users file claims via the bankruptcy process and letting the court make the disbursements.
   or –
2.   Somebody else comes in to purchase and run Cryptsy while also making good on requested withdrawals.
   or –
3.   If somehow we are able to re-aquire the stolen funds, then we allow all withdrawal requests to process.

I’m obviously open to any other ideas people may have on this."


#2   "Somebody else comes in to purchase and run Cryptsy while also making good on requested withdrawals."  So, you buy Cryptsy and then you have to refund customers 10,000 missing Bitcoin, and whatever else that may be missing??

[DNotes]

Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

Disappointing to say the least. Hopefully the lost funds can be recovered or otherwise worked out.

[IMZ]

[sigh] I've been thinking on this for a while: in respect of crypto-currency exchanges, 'if in doubt, assume the worst' should be policy.

Mark (IndiaMikeZulu), Australia

[TeeGee]

Wait? What? They ran their Bitcoin and I've-Never-Heard-Of-Altcoin clients on the same server that would allow a hack like this? And ummm...  do industry standard cold wallets not work now or,...  Ohhhhhh!

Let's not even go into the fact that they ran a ponzi, people whose bitcoins were hacked were able to get their money out with investment of new people's money, people who were investing / storing unaware that Cryptsy was insolvent. You're all so correct, they should have communicated. Let us hope the funds are retrieved. This is brand damaging, and I don't see Cryptsy operating again in future.

Briefly popping by to say hello (apologies for my absence -   finished my course today for a personal training franchise I've started so that I can choose the hours that I work in and around the last of my university). That said, I'm now really looking forward to Alan's book.

[RJF]

Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

Disappointing to say the least. Hopefully the lost funds can be recovered or otherwise worked out.

Paul Vernon: "This worked fine for awhile, as profits decreased due to low volume and low Bitcoin prices, we would adjust our spending accordingly.  It wasn’t until an article from Coinfire came out that contained many false accusations that things began to crumble.   The article basically caused a bank-run, and since we only had so much in reserves for those currencies problems began."
 
Other than the obvious mismanagement, which, in reality, a LOT of businesses in the same position would have done, the statement above about "Coinfire" is key to a rampant problem in the industry, irresponsible reporting. Some people think "freedom of the press" means you can publish anything you want, accuse anyone of anything and, outright lie to the public without consequence. Nothing could be further from the truth especially in a new industry where why too much illegal activity already exists. The Press has a RESPONSIBILITY and a legal mandate to report ONLY the truth. Truth meaning well researched FACTS supported by proven events and publicly available information. It is NOT their job to ruin businesses and peoples lives for the sake of headlines and self gratification oh, and money, there's always the money.

And to make matters worse, since so little real content/information is available, ever article and statement has the instant ability to go viral. No chance to make corrections or pull an article, it's already global right after penning the last sentence. I'm sure (?) as the industry matures this will be better controlled and some sense of responsibility will overtake the "wild west" attitude of our fringe press but, even the traditional news sources would sacrifice honesty and accuracy for ratings so, I suppose it's up to us to communicate the truth. Sad.

So, in a way, Cryptsy was the victim here in more ways than one. The thing I still have trouble understanding is Paul's silence. He didn't have to reveal everything, hell, he didn't have to reveal ANYTHING, all he had to do was to communicate, to reassure customers, to say "We're working on it, sorry for the inconvenience" This alone would have softened the blow when the truth was revealed, perhaps enough to allow them to continue operations with their customer's help and understanding instead of angst and mistrust.

To ALL you new crypto businesses out there I say this: COMMUNICATE!  No matter what the problem, no matter how bleak the outcome may be, your fault or not, TELL YOUR CUSTOMERS SOMETHING! When I was in the the Internet Provider business we had one solid rule that was unbreakable: "talk to the customer, we all work for them."

[Dyna]

Wait? What? They ran their Bitcoin and I've-Never-Heard-Of-Altcoin clients on the same server that would allow a hack like this? And ummm...  do industry standard cold wallets not work now or,...  Ohhhhhh!

Let's not even go into the fact that they ran a ponzi, people whose bitcoins were hacked were able to get their money out with investment of new people's money, people who were investing / storing unaware that Cryptsy was insolvent. You're all so correct, they should have communicated. Let us hope the funds are retrieved. This is brand damaging, and I don't see Cryptsy operating again in future.

Briefly popping by to say hello (apologies for my absence -   finished my course today for a personal training franchise I've started so that I can choose the hours that I work in and around the last of my university). That said, I'm now really looking forward to Alan's book.

We missed you for a while, TeeGee. Always good to see you. We are anxiously looking forward to see the next video you and the boys have been working on. I trust that it will be a great video.

Giving Big Vern the benefits of the doubt, Cryptsy situation is very sad and challenging. Damage control could have promptly kicked once the incident was discovered. I will leave it at that for now.

The book is beginning to shape up nicely. It has been much more demanding than I anticipated. Like DNotes, the book will clearly differentiate itself from other entrepreneurial business books. It is easy to read and inspiring; starting from top to bottom.

Here is another unedited quote from the book, "In essence, this approach to design begins with you, and ends with the creation of an entire team and organization that reflects your values and mindset - in much the same way that the planets in the solar system reflect the light of the Sun. When done properly, you will achieve the goal of multiplying yourself and extending the reach of your leadership. That will in turn expand your sphere of influence beyond only those with whom you have major interaction each day, and allow you to impact even those employees you may not regularly see. Because you will be creating a team of like-minded, vision and goal-sharing individuals, your organization will have the capability of achieving the type of exceptional results that others will only be able to wish they could enjoy."

[Dyna]

Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

Disappointing to say the least. Hopefully the lost funds can be recovered or otherwise worked out.

Paul Vernon: "This worked fine for awhile, as profits decreased due to low volume and low Bitcoin prices, we would adjust our spending accordingly.  It wasn’t until an article from Coinfire came out that contained many false accusations that things began to crumble.   The article basically caused a bank-run, and since we only had so much in reserves for those currencies problems began."
 
Other than the obvious mismanagement, which, in reality, a LOT of businesses in the same position would have done, the statement above about "Coinfire" is key to a rampant problem in the industry, irresponsible reporting. Some people think "freedom of the press" means you can publish anything you want, accuse anyone of anything and, outright lie to the public without consequence. Nothing could be further from the truth especially in a new industry where why too much illegal activity already exists. The Press has a RESPONSIBILITY and a legal mandate to report ONLY the truth. Truth meaning well researched FACTS supported by proven events and publicly available information. It is NOT their job to ruin businesses and peoples lives for the sake of headlines and self gratification oh, and money, there's always the money.

And to make matters worse, since so little real content/information is available, ever article and statement has the instant ability to go viral. No chance to make corrections or pull an article, it's already global right after penning the last sentence. I'm sure (?) as the industry matures this will be better controlled and some sense of responsibility will overtake the "wild west" attitude of our fringe press but, even the traditional news sources would sacrifice honesty and accuracy for ratings so, I suppose it's up to us to communicate the truth. Sad.

So, in a way, Cryptsy was the victim here in more ways than one. The thing I still have trouble understanding is Paul's silence. He didn't have to reveal everything, hell, he didn't have to reveal ANYTHING, all he had to do was to communicate, to reassure customers, to say "We're working on it, sorry for the inconvenience" This alone would have softened the blow when the truth was revealed, perhaps enough to allow them to continue operations with their customer's help and understanding instead of angst and mistrust.

To ALL you new crypto businesses out there I say this: COMMUNICATE!  No matter what the problem, no matter how bleak the outcome may be, your fault or not, TELL YOUR CUSTOMERS SOMETHING! When I was in the the Internet Provider business we had one solid rule that was unbreakable: "talk to the customer, we all work for them."

I agree, RJF. Cryptsy is a sad case and another setback for the industry. Damage control should have kicked in immediately. When there is a problem of this magnitude, people would only accept excuses for so long before they started speculating. This inevitably led to the  "Coinfire" bad press.

As you correctly pointed out; "COMMUNICATE!  No matter what the problem, no matter how bleak the outcome may be, your fault or not, TELL YOUR CUSTOMERS SOMETHING!"

 

[DNotes]

Bitcoin Weekly Recap 1-15-2016

Xapo Founder Casares Added to PayPal Board
As Netflix Rapidly Expands, CFO Extols Bitcoin
Bitcoin Group to Begin Share Trading
Russian Investigative Committee Chairman Concerned About Ruble Devaluation
Bitcoin Option Added to Jackpocket Lottery App

http://dcebrief.com/bitcoin-weekly-recap-1-15-2016/

[DNotes]

[sigh] I've been thinking on this for a while: in respect of crypto-currency exchanges, 'if in doubt, assume the worst' should be policy.

Mark (IndiaMikeZulu), Australia

Unfortunately that is turning out to be solid advice. 

[DNotes]

There would be too much to quote here, this is a must read for everyone if you haven't come across it already, The resolution of the Bitcoin experiment by Mike Hearn. Fair warning, it is a bit disheartening to read but an important view point to consider from a former bitcoin core developer. Mike is clearly passionate and disappointed, even open source communities need good leadership that is not driven by greed and self interest.