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[DNotes]

Digital Currency Weekly Recap 1-24-2016

Russian Duma Could Review New Crytpo-Encompassing Law Soon.
China Preparing to Launch Its Own Cryptocurrency.
Wyoming Bill Would Define Crypto as Acceptable Investment.
New IMF Paper Recommends that Regulators Not Hinder Cryptocurrency Innovation.
Kraken Buys Out Canadian Cavirtex Exchange.

http://dcebrief.com/digital-currency-weekly-recap-1-24-2016/

[Dyna]

Digital Currency Weekly Recap 1-24-2016

Russian Duma Could Review New Crytpo-Encompassing Law Soon.
China Preparing to Launch Its Own Cryptocurrency.
Wyoming Bill Would Define Crypto as Acceptable Investment.
New IMF Paper Recommends that Regulators Not Hinder Cryptocurrency Innovation.
Kraken Buys Out Canadian Cavirtex Exchange.

http://dcebrief.com/digital-currency-weekly-recap-1-24-2016/

That is quite a week on digital currency - the future of money. I pay a lot of attention to prevailing sentiments and trends in our industry that has been filled with great confusion and mixed emotion. Sometimes, it is the little tidbits of news that signal the trend.

Thanks, for reporting on "Wyoming Bill Would Define Crypto as Acceptable Investment."  That is a good sign. I have no doubt that it is not Blockchain alone, but digital currency with Blockchain as a total package that is the greatest technology revolution since the Internet.

[Chase]

Digital Currency Weekly Recap 1-24-2016

Russian Duma Could Review New Crytpo-Encompassing Law Soon.
China Preparing to Launch Its Own Cryptocurrency.
Wyoming Bill Would Define Crypto as Acceptable Investment.
New IMF Paper Recommends that Regulators Not Hinder Cryptocurrency Innovation.
Kraken Buys Out Canadian Cavirtex Exchange.

http://dcebrief.com/digital-currency-weekly-recap-1-24-2016/

That is quite a week on digital currency - the future of money. I pay a lot of attention to prevailing sentiments and trends in our industry that has been filled with of great confusion and mixed emotion. Sometimes, it is the little tidbits of news that signal the trend.

Thanks, for reporting on "Wyoming Bill Would Define Crypto as Acceptable Investment."  That is a good sign. I have no doubt that it is not Blockchain alone, but digital currency with Blockchain as a total package that is the greatest technology revolution since the Internet.

Great recap Ken!

Wyoming Bill Would Define Crypto as Acceptable Investment - cryptocurrency will be in registered retirement funds within a few years (Jamie Dimon just doesn't know it yet  ).

[fortune-gold]

you can help in the current list of nodes?

Thanks so much!......

[DNotes]

Some interesting perspectives from Bobby Lee at the Miami Bitcoin conference.


Bitcoin Poised to Be the World Reserve Currency

The highlight of the conference was the revelation that Bitcoin is poised to be the reserve currency for fiat currencies, as thoroughly explained by Bobby Lee, CEO of BTCC, the first Bitcoin exchange in China. As background information, Lee explained that money and currency are not the same. And, he reminded the audience that Bitcoin is the first successful digital currency ever; circulation is limited to 21 million, and, it is not centralized by anyone or anything. He also pointed out that Bitcoin is pseudo- anonymous, like cash.

Lee described why Bitcoin has all the perfect features of money. He drew attention to the fact that only gold and Bitcoin have these characteristics. And because of that, “Bitcoin can serve as reserve for digital currencies globally.” Lee added:

“Bitcoin’s blockchain can be the global anchor (proof-of-work chain) for all nationally created digital currencies.”

Lee also stirred the audience with excitement when he mentioned that the government of China has just announced its intention to explore and create a digital currency for China. Next, Lee posed the questions “Will it be the new digital Reserve Currency? Or, “will it need a Digital Reserve Currency like Bitcoin to back it?”

[DNotes]

you can help in the current list of nodes?

Thanks so much!......

Welcome fortune-gold to the DNotes forum. Did you need the list of nodes?

addnode=n6.dnotescoin.com
addnode=n7.dnotescoin.com
addnode=n4.dnotescoin.com
addnode=n5.dnotescoin.com
addnode=128.199.239.199
addnode=95.85.44.200
addnode=162.243.225.90

[fortune-gold]

you can help in the current list of nodes?

Thanks so much!......

Welcome fortune-gold to the DNotes forum. Did you need the list of nodes?

addnode=n6.dnotescoin.com
addnode=n7.dnotescoin.com
addnode=n4.dnotescoin.com
addnode=n5.dnotescoin.com
addnode=128.199.239.199
addnode=95.85.44.200
addnode=162.243.225.90

Hello DNotes   
Thanks so much!......

[CryptoBroker79]

you can help in the current list of nodes?

Thanks so much!......

Welcome fortune-gold to the DNotes forum. Did you need the list of nodes?

addnode=n6.dnotescoin.com
addnode=n7.dnotescoin.com
addnode=n4.dnotescoin.com
addnode=n5.dnotescoin.com
addnode=128.199.239.199
addnode=95.85.44.200
addnode=162.243.225.90

Hello DNotes   
Thanks so much!......

Welcome to DNotes fortune-gold

[IMZ]

Yes, welcome, fortune-gold.

[Why can't Australia have characters like 'Wyoming Bill'!? We're still stuck with the likes of 'Snodberry Huntington-Smythe, Esq.']

[DNotes]

This is an important topic brought up on Coindesk. Blockstream CEO: Bitcoin Creating 'Toxic' Environment for Developers. There have been many successful open source projects over the years, with lots of contributors and everyone working together fairly well, but with bitcoin it has been a little different. Many opposing views, lots of politics, and the importance of even simple changes having a massive impact in part or in whole to the ecosystem or companies built around the existing architecture. One of the key differences is there is a lot of money involvement to consider, it hasn't been just what's good for bitcoin and it's users. Then of course, as Hill mentioned, there is no funding for the developers.

This is just a small snippet from the article and it is worth a good read and some discussion.

Following what can be best described as a vocal exit of developer Mike Hearn, the long-simmering debate over whether to scale the bitcoin blockchain to promote wider use has escalated.

Though the exact lines of division remain blurry, the resulting media scrutiny has seemingly awakened the bitcoin mining and business community to what they perceive as a lack of movement by Bitcoin Core, the ecosystem’s largely volunteer development team.

As a result, businesses are voicing their support for Bitcoin Classic, an alternative proposal to a strategic road map proposed by Bitcoin Core that would increase the size of data blocks on the blockchain to 2MB, up from 1MB today. Bitcoin Core has advocated for Segregated Witness, a proposal that would result in more capacity, without necessitating a hard fork, a process by which a mandatory network-wide software upgrade would be needed.

Proponents of Bitcoin Classic contend that the solution simply introduces a choice into the market, and that, should their proposal succeed, they believe Bitcoin Core’s developers will simply migrate to a newly branded code base without much impact.

However, Austin Hill, CEO of $21m startup Blockstream, believes that, despite these claims, the lack of support for Core developers is creating a "toxic" environment.

Hill told CoinDesk:

"It's created an environment where a whole bunch of companies have been building on bitcoin, enjoying the hard work of a community of developers who are now saying, without saying thank you, I don’t like the color of what you shipped me so I'm going to abandon you."

[IMZ]

http://www.coindesk.com/bitcoin-miners-bitcoin-classic-scaling-debate-evolves

[Dyna]

This is an important topic brought up on Coindesk. Blockstream CEO: Bitcoin Creating 'Toxic' Environment for Developers. There have been many successful open source projects over the years, with lots of contributors and everyone working together fairly well, but with bitcoin it has been a little different. Many opposing views, lots of politics, and the importance of even simple changes having a massive impact in part or in whole to the ecosystem or companies built around the existing architecture. One of the key differences is there is a lot of money involvement to consider, it hasn't been just what's good for bitcoin and it's users. Then of course, as Hill mentioned, there is no funding for the developers.

This is just a small snippet from the article and it is worth a good read and some discussion.

Following what can be best described as a vocal exit of developer Mike Hearn, the long-simmering debate over whether to scale the bitcoin blockchain to promote wider use has escalated.

Though the exact lines of division remain blurry, the resulting media scrutiny has seemingly awakened the bitcoin mining and business community to what they perceive as a lack of movement by Bitcoin Core, the ecosystem’s largely volunteer development team.

As a result, businesses are voicing their support for Bitcoin Classic, an alternative proposal to a strategic road map proposed by Bitcoin Core that would increase the size of data blocks on the blockchain to 2MB, up from 1MB today. Bitcoin Core has advocated for Segregated Witness, a proposal that would result in more capacity, without necessitating a hard fork, a process by which a mandatory network-wide software upgrade would be needed.

Proponents of Bitcoin Classic contend that the solution simply introduces a choice into the market, and that, should their proposal succeed, they believe Bitcoin Core’s developers will simply migrate to a newly branded code base without much impact.

However, Austin Hill, CEO of $21m startup Blockstream, believes that, despite these claims, the lack of support for Core developers is creating a "toxic" environment.

Hill told CoinDesk:

"It's created an environment where a whole bunch of companies have been building on bitcoin, enjoying the hard work of a community of developers who are now saying, without saying thank you, I don’t like the color of what you shipped me so I'm going to abandon you."

Uncertainty is not a good thing for any long term investment. The lack of leadership with sufficient self interest to lead Bitcoin out this "Toxic Environment" may not be forth-coming and will continue to be a drag to the industry. This will make mass acceptance of Bitcoin extremely remote.

[wiser]

Uncertainty is not a good thing for any long term investment. The lack of leadership with sufficient self interest to lead Bitcoin out this "Toxic Environment" may not be forth-coming and will continue to be a drag to the industry. This will make mass acceptance of Bitcoin extremely remote.

It almost seems like the desire to be decentralized and trustless has gone to an extreme. Being democratic most of the time is generally a good goal to have, but at some point, there has to be a "the buck stops here" decision maker who can break ties and move things forward. Good leadership can't always be democratic. Good leadership also has to uphold core standards of the organization, and doing so may mean going against the majority to do what's best.

It seems like even in cryptocurrency, at some point a real live human being has to make a decision, stick with it, make it happen, and take the heat for it... for the sake of doing what's best for the organization in question. Even a wrong decision that is later regretted can be better than making no decision and stalling when action needs to be taken.

[Dyna]

Uncertainty is not a good thing for any long term investment. The lack of leadership with sufficient self interest to lead Bitcoin out this "Toxic Environment" may not be forth-coming and will continue to be a drag to the industry. This will make mass acceptance of Bitcoin extremely remote.

It almost seems like the desire to be decentralized and trustless has gone to an extreme. Being democratic most of the time is generally a good goal to have, but at some point, there has to be a "the buck stops here" decision maker who can break ties and move things forward. Good leadership can't always be democratic. Good leadership also has to uphold core standards of the organization, and doing so may mean going against the majority to do what's best.

It seems like even in cryptocurrency, at some point a real live human being has to make a decision, stick with it, make it happen, and take the heat for it... for the sake of doing what's best for the organization in question. Even a wrong decision that is later regretted can be better than making no decision and stalling when action needs to be taken.

Especially at the formative stage of a big bold idea, that is enormously innovative with world changing implications, great leadership is vital. Great leaders formulate vision and establish strategic goals and inspire followers with a clear sense of direction and purpose. This leads to a unity of common people working together in the attainment of uncommon achievement, that otherwise may not be possible.

Great leaders inspire mutual cooperation and respect, resulting in a highly productive environment. Over a period of time, a new culture is created with those who share the same vision and its mission to accomplish a common goal. Such organization is much more orderly, productive, and rewarding, and capable of great achievements.

In contract, a leaderless organization has a high tendency to be chaotic, political, and counter productive. Bitcoin as a technology is amazing. Its short comings are not from a near perfect and highly innovative technology that will continue to evolve and get better, but from the lack of leadership.

[DNotes]

http://dcebrief.com/global-cyber-law-enforcement-gaining-on-bitcoin-cyber-criminals/

[Dyna]

http://dcebrief.com/global-cyber-law-enforcement-gaining-on-bitcoin-cyber-criminals/

Another excellent article. Very sound and reasonable arguments. Evander is a solid defender of Bitcoin. We need more of him.

[kanus1113]

http://dcebrief.com/global-cyber-law-enforcement-gaining-on-bitcoin-cyber-criminals/

Another excellent article. Very sound and reasonable arguments. Evander is a solid defender of Bitcoin. We need more of him.

+1 Love the article Evander. Law enforcement will always eventually catch up with criminals, no matter what technology or form of payment they use. It's good to see they are doing it sooner than later.

[Chase]

This is a gloomy forecast:


'WORSE THAN 2007': Top banker warns of looming wave of worldwide bankruptcies

http://www.businessinsider.com/top-banker-warns-of-worldwide-bankruptcies-2016-1?amp

[Bergman]

This is a gloomy forecast:


'WORSE THAN 2007': Top banker warns of looming wave of worldwide bankruptcies

http://www.businessinsider.com/top-banker-warns-of-worldwide-bankruptcies-2016-1?amp

Gloomy indeed. Global financial crisis is knocking. Then again, has it ever stopped.

This part was pretty interesting. Contrary to the typical sacrifice the future for today perspective.

White believes governments hold the key, telling The Telegraph: "They should return to fiscal primacy — call it Keynesian, if you wish — and launch an investment blitz on infrastructure that pays for itself through higher growth."

It's a controversial call, particularly as it would almost certainly require governments to take on even greater amounts of debt.

[DNotes]

This is a gloomy forecast:


'WORSE THAN 2007': Top banker warns of looming wave of worldwide bankruptcies

http://www.businessinsider.com/top-banker-warns-of-worldwide-bankruptcies-2016-1?amp

Gloomy indeed. Global financial crisis is knocking. Then again, has it ever stopped.

This part was pretty interesting. Contrary to the typical sacrifice the future for today perspective.

White believes governments hold the key, telling The Telegraph: "They should return to fiscal primacy — call it Keynesian, if you wish — and launch an investment blitz on infrastructure that pays for itself through higher growth."

It's a controversial call, particularly as it would almost certainly require governments to take on even greater amounts of debt.

That is a very dismal article. Hopefully digital currency and DNotes can gain traction pretty quickly. A global supplemental digital currency would likely be one of the safest bets in financial turmoil if it can grow to maintain much more liquidity and stability.