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

[Dyna]

On the surface the claims in the following article sound impressive. Indeed, there will be great demand for high speed blockchain transactions with many good uses.

However, it is important to take notice this is about centralized private blockchain with “trusted” intermediaries; as opposed to trustless decentralized consensus network confirmed by proof-of-work without the need of any central authority.  

“Juno provides a platform for private network applications and removes the need for proof-of-work and proof-of-stake functions typical in current blockchains.”

***************************
JPMorgan Introduces “Juno” Blockchain Prototype with Lower Latency, Higher Throughput
March 7, 2016

http://blockchain-finance.com/2016/03/07/jpmorgan-introduces-juno-blockchain-prototype-with-low-latencies-high-transaction-volume/

JPMorgan on Friday revealed its own blockchain technology prototype at the technical steering committee meeting of the open source Hyperledger Project, according to a CoinDesk scoop.
JPMorgan executive director David Voell introduced the “Juno Digital Cryptoledger” and one of the developers of the prototype, financial technology engineer Will Martino.

In his introduction, Voell placed emphasis on Juno’s lower latency and higher transaction throughput.
“It is very well suited for high volume use cases. A lot of the existing technology we’ve seen with blockchain is not so good at higher volume transactions. Some of the use cases we are looking at are in the area of 200, 300, 400, 500 transactions per second.”

Martino gave a presentation on Juno as an alternative to existing smart contract blockchain technologies like Ethereum, noting that project started in September 2015 after testing other blockchain technologies.

Juno provides a platform for private network applications and removes the need for proof-of-work and proof-of-stake functions typical in current blockchains. Juno accomplishes this by using a variant of the Raft consensus protocol with Byzantine Fault Tolerance (BFT), called Tangaroa, and a smart contracts language developed for it, called Hopper.

According to its Github page, Juno can achieve significantly lower latency than traditional Blockchain-based models.

“Running the demo locally, one can expect latencies of ~20ms and throughput in excess of 1000 transactions a second.”

In his presentation to Hyperledger, Martino indicated that an un-optimized version of Juno running four nodes on a MacBook Pro generated throughput of 500 transactions per second and a latency of ~2ms. The development team believes it can achieve 2-3 times performance with basic optimizations.

To put this performance in perspective, the Bitcoin network can handle 7 transactions per second, while Visa’s network handles an average of 2000 transactions per second. Even if it can handle just 500 transactions per second, Juno is much more suitable for most mainstream financial applications than the two most prominent blockchains, Bitcoin and Ethereum.

Juno however is not a finished product, as Voell noted in the introduction to Hyperledger:
“It is not finished yet. It is still a work in process. We have been having some very good results from our testing.”

JPMorgan is a member of R3’s consortium of 45 member banks, called the R3 Global Collaborative Lab, and recentlytook part in testing distributed ledger technologies developed by Chain, Eris Industries, Ethereum, IBM and Intel.

[DNotes]

http://dcebrief.com/speed-security-or-stability-which-is-the-most-important-to-us/

[infovortice2013]

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

[DNotes]

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you infovortice! Azure is Microsoft's cloud platform. Microsoft is trying to promote usage of this platform by 'partnering' with service providers, in this case blockchain data providers. The advantages for a blockchain provider include providing services for one looking to utilize blockchain for data purposes, opening themselves up to potentially a new user base on a nice and easy platform. This isn't something that is on the top of our priority list, but on our radar for future utilization of blockchain services.

I can't explain the exact correlation to the price, other than potential higher utilization of that providers services, and excitement of a new technology venue.

[Dyna]

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you, infovortice. I am well aware that blockchain and Azure are two industry buzz words at this time. There are significant advantages to team up with Microsoft at the appropriate time. In our case, it may not be until 2017. We have a very clear vision where DNotes needs to be three years from now.

We spent the first two years building a trusted brand with a solid infrastructure of our own ecosystem. We are now focusing on a revenue model to will help fund major development projects beyond what we have already been working on.

DNotes is a trailblazer with a very long term strategic plan. We are committed to be a technology leader with a trusted digital currency for everyone worldwide to participate. We are also committed to a strategic path that will give DNotes the best chances of meeting the full functions of money one day, with an ultimate goal to be far superior to money. Additionally, DNotes is positioned to supplement, though not replace fiat or national currencies globally. Thus, we see things very differently; with a very different timetable when compared to our industry peers.
 

[DNotes]

Published almost a week ago, What Happened At The Satoshi Roundtable by Brian Armstrong and Satoshi Roundtable Thoughts by Gavin Andresen. Pretty interesting reads outlining 2 very different opinions on the issue. Brian believes we need and have an interim solution though it may not be a perfect solution but it will help keep us moving forward, Gavin hopes an off-chain solution will be created if no action is taken.

What I Learned at the Satoshi Roundtable by Stephen Pair, is also worth a mention, with a more in depth explanation why we may not want to raise the limit. He does mention voting mechanisms as well.

[Chase]

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!

That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.

The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.

[DNotes]

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!

That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.

The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.

That is excellent! I certainly wish they had that around here.

[Dyna]

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!

That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.

The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.

For convenience and wide availability it is very impressive. It may not be the most cost effective regular savings program. I am curious as to what is the final exchange rate of 1 BTC in UD $ they used for  the conversion.  

[CryptoBroker79]

http://dcebrief.com/speed-security-or-stability-which-is-the-most-important-to-us/

I really enjoyed this one, it raises a very important issue that most cryptocurrencies seem to disregard. DNotes on the other hand performs well in each of those categories.

[Chase]

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!

That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.

The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.

For convenience and wide availability it is very impressive. It may not be the most cost effective regular savings program. I am curious as to what is the final exchange rate of 1 BTC in UD $ they used for  the conversion.  

It would be pretty costly to continuously pay that kind of a fee if you became a regular purchaser of Bitcoin. This is a good stepping stone for the first few purchases, so people can see it really isn't that difficult to buy. Once they are confident, they will likely move on to buy where the fees are lower.

The price for one bitcoin was $565.85 Canadian and at today's exchange rate that is around $414.00 U.S.

[Dyna]

This is impressive! I took a quick look at the locations and this makes it possible to buy bitcoin in some pretty small towns across Canada. There are a few locations that are close so I'm going to give it a try tomorrow.


You can now purchase Bitcoin at 6,000 retail locations in Canada with BitAccess

https://ihb.io/2016-03-09/news/you-can-now-purchase-bitcoin-at-6000-retail-locations-in-canada-with-bitaccess-28037

Very cool. That would be nice if we had this option locally too. Let us know how it goes!

That was pretty easy!

These are the instructions posted in the article:

Buying a Flexepin bitcoin voucher is like purchasing a gift card. It is bought from a store cashier. Once the purchase is made, a voucher is provided in the form of a receipt. In 60 seconds, the receipt can then be redeemed for the cash equivalent of bitcoin.

In just 3 steps, anyone can quickly buy bitcoin:

1. Find a store by visiting Bitaccess.

2. Pay the store cashier for a Flexepin voucher. If the cashier is unable to find Flexepin, tell them it is on the prepaid machine and is just like a paysafecard.

3. Redeem the voucher at https://bitcoin.bitaccess.co/ to add bitcoin to a digital wallet of your choice.

Flexepin allows you to buy up to $250 worth of bitcoin per day. They come in $10, $30, $50, $100 or $250 vouchers.

The cashier had never heard of Flexepin, so I did have to mention it is like a paysafecard.

I bought a $10 Flexepin voucher (at a gas station) and with the fee the total was $11.49 Canadian. The fee may seem expensive to those already in the industry, but for newcomers, ease of use comes first. One thing I forgot to ask is if the fee is a flat percentage of the voucher value, or if you get a better deal if you buy a larger amount. I can't find the answer online, so I'll check the next time I'm there.

- To purchase bitcoin with this voucher, you enter a mobile phone # and they send a log-in password.

- Your name and address are required as per regulations.

- Once logged in, you enter the 16 digit PIN number that is on the voucher as well as your Bitcoin address.

The whole process (after going out and purchasing the voucher) was faster than waiting for the Bitcoin confirmations at Poloniex.

For convenience and wide availability it is very impressive. It may not be the most cost effective regular savings program. I am curious as to what is the final exchange rate of 1 BTC in UD $ they used for  the conversion.  

It would be pretty costly to continuously pay that kind of a fee if you became a regular purchaser of Bitcoin. This is a good stepping stone for the first few purchases, so people can see it really isn't that difficult to buy. Once they are confident, they will likely move on to buy where the fees are lower.

The price for one bitcoin was $565.85 Canadian and at today's exchange rate that is around $414.00 U.S.

Thanks, Chase. So the exchange fees is already reflected up-front. That is not to get people started.

[infovortice2013]

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you, infovortice. I am well aware that blockchain and Azure are two industry buzz words at this time. There are significant advantages to team up with Microsoft at the appropriate time. In our case, it may not be until 2017. We have a very clear vision where DNotes needs to be three years from now.

We spent the first two years building a trusted brand with a solid infrastructure of our own ecosystem. We are now focusing on a revenue model to will help fund major development projects beyond what we have already been working on.

DNotes is a trailblazer with a very long term strategic plan. We are committed to be a technology leader with a trusted digital currency for everyone worldwide to participate. We are also committed to a strategic path that will give DNotes the best chances of meeting the full functions of money one day, with an ultimate goal to be far superior to money. Additionally, DNotes is positioned to supplement, though not replace fiat or national currencies globally. Thus, we see things very differently; with a very different timetable when compared to our industry peers.
 

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you infovortice! Azure is Microsoft's cloud platform. Microsoft is trying to promote usage of this platform by 'partnering' with service providers, in this case blockchain data providers. The advantages for a blockchain provider include providing services for one looking to utilize blockchain for data purposes, opening themselves up to potentially a new user base on a nice and easy platform. This isn't something that is on the top of our priority list, but on our radar for future utilization of blockchain services.

I can't explain the exact correlation to the price, other than potential higher utilization of that providers services, and excitement of a new technology venue.

OK i understand now, thanks. Sure price up is just speculation, or coders investing some money in something they want to work in. Nice to know is on DNotes path,

[Dyna]

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you, infovortice. I am well aware that blockchain and Azure are two industry buzz words at this time. There are significant advantages to team up with Microsoft at the appropriate time. In our case, it may not be until 2017. We have a very clear vision where DNotes needs to be three years from now.

We spent the first two years building a trusted brand with a solid infrastructure of our own ecosystem. We are now focusing on a revenue model to will help fund major development projects beyond what we have already been working on.

DNotes is a trailblazer with a very long term strategic plan. We are committed to be a technology leader with a trusted digital currency for everyone worldwide to participate. We are also committed to a strategic path that will give DNotes the best chances of meeting the full functions of money one day, with an ultimate goal to be far superior to money. Additionally, DNotes is positioned to supplement, though not replace fiat or national currencies globally. Thus, we see things very differently; with a very different timetable when compared to our industry peers.
 

Hi family, its a few days ago a pumping devotion arround proyects that join to microsoft azure stuff, really not understand too much or know azure, just looking that syndrome, each proyect that join azure is hardly pumped. Just rumors that stay there its like be legalizated or something.

just wanna know if DNotes has in his roadmap Microsoft azure listing ?

Why really a coin take profit by join there ?

Good to see you infovortice! Azure is Microsoft's cloud platform. Microsoft is trying to promote usage of this platform by 'partnering' with service providers, in this case blockchain data providers. The advantages for a blockchain provider include providing services for one looking to utilize blockchain for data purposes, opening themselves up to potentially a new user base on a nice and easy platform. This isn't something that is on the top of our priority list, but on our radar for future utilization of blockchain services.

I can't explain the exact correlation to the price, other than potential higher utilization of that providers services, and excitement of a new technology venue.

OK i understand now, thanks. Sure price up is just speculation, or coders investing some money in something they want to work in. Nice to know is on DNotes path,

There seems to be an increasing interest in altcoins. It is beginning to remind me of 2014. DNotes is quite well positioned now and we are back to an uptrend. Slow and steady is what I would love to see. So far so good.

[DNotes]

Bitcoin Weekly Recap 3-11-2016

BitQuick Now Using BitGo Instant
BitAccess Announces Bitcoin Purchase Option across Canada
Coinbase Announces Debit Card Bitcoin Purchase Feature
BitPay Report Shows Rising Bitcoin Business to Business Payments
Consensus Escapes Satoshi Roundtable

http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

[Dyna]

Bitcoin Weekly Recap 3-11-2016

BitQuick Now Using BitGo Instant
BitAccess Announces Bitcoin Purchase Option across Canada
Coinbase Announces Debit Card Bitcoin Purchase Feature
BitPay Report Shows Rising Bitcoin Business to Business Payments
Consensus Escapes Satoshi Roundtable

http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

Excellent recap. "Consensus Escapes Satoshi Roundtable" is an important read you should not miss. This is a serious pitfall of Bitcoin that could lead to very costly consequences. It is very concerning. Any major setback will affect the entire industry.

Consensus Escapes Satoshi Roundtable
http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

More than seventy members of the Bitcoin community participated in the Satoshi Roundtable event in Florida last weekend, including miners, Bitcoin core developers, and representatives from Bitcoin firms. As might be expected, much of the conference focused on the issue of blockchain scaling. Anyone who showed up at the event expecting the participants to develop any sort of consensus, however, would have left sorely disappointed.

Two of the participants, Gavin Andresen and Brian Armstrong, walked away from the conference with markedly different perspectives. In separate blog postings this week, each man offered his own unique take on the conference, while also providing a glimpse into preferred paths forward.
Both men’s accounts of the proceedings seem to reflect a similar sense of frustration that there are still so many people resisting any serious effort at resolving the block size issue. Their blog accounts, however, do reveal that even they have some obvious differences when it comes to identifying why these divisions remain so hard to overcome.

Armstrong identified the Bitcoin core team’s inability to accept a good solution as a major roadblock to progress, noting that they are resisting a helpful solution now due to their concerns that unhelpful decisions might be made at some unknown point in the future. Not content to simply identify perceived problems, Armstrong also offered his own thoughts on a possible solution that includes an immediate block size increase to 2 MB, an increased effort to communicate the benefits to Chinese miners, and a commitment to building a new protocol team.

Andresen’s post expressed pessimism about the whole process, and focused on the mining community’s reluctance to wield veto power, confusion about the current process, and the apparent unwillingness of some in the development community to support any on-chain solution at this point. In the end, Andresen concluded that these are all signs that the Bitcoin network is in an extremely unhealthy state – and likely to remain so until wiser and cooler heads prevail.

[Chase]

Bitcoin Weekly Recap 3-11-2016

BitQuick Now Using BitGo Instant
BitAccess Announces Bitcoin Purchase Option across Canada
Coinbase Announces Debit Card Bitcoin Purchase Feature
BitPay Report Shows Rising Bitcoin Business to Business Payments
Consensus Escapes Satoshi Roundtable

http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

Excellent recap. "Consensus Escapes Satoshi Roundtable" is an important read you should not miss. This is a serious pitfall of Bitcoin that could lead to very costly consequences. It is very concerning. Any major setback will affect the entire industry.

Consensus Escapes Satoshi Roundtable
http://dcebrief.com/bitcoin-weekly-recap-3-11-2016/

More than seventy members of the Bitcoin community participated in the Satoshi Roundtable event in Florida last weekend, including miners, Bitcoin core developers, and representatives from Bitcoin firms. As might be expected, much of the conference focused on the issue of blockchain scaling. Anyone who showed up at the event expecting the participants to develop any sort of consensus, however, would have left sorely disappointed.

Two of the participants, Gavin Andresen and Brian Armstrong, walked away from the conference with markedly different perspectives. In separate blog postings this week, each man offered his own unique take on the conference, while also providing a glimpse into preferred paths forward.
Both men’s accounts of the proceedings seem to reflect a similar sense of frustration that there are still so many people resisting any serious effort at resolving the block size issue. Their blog accounts, however, do reveal that even they have some obvious differences when it comes to identifying why these divisions remain so hard to overcome.

Armstrong identified the Bitcoin core team’s inability to accept a good solution as a major roadblock to progress, noting that they are resisting a helpful solution now due to their concerns that unhelpful decisions might be made at some unknown point in the future. Not content to simply identify perceived problems, Armstrong also offered his own thoughts on a possible solution that includes an immediate block size increase to 2 MB, an increased effort to communicate the benefits to Chinese miners, and a commitment to building a new protocol team.

Andresen’s post expressed pessimism about the whole process, and focused on the mining community’s reluctance to wield veto power, confusion about the current process, and the apparent unwillingness of some in the development community to support any on-chain solution at this point. In the end, Andresen concluded that these are all signs that the Bitcoin network is in an extremely unhealthy state – and likely to remain so until wiser and cooler heads prevail.

Great Recap Ken!

Not being able to reach a consensus, and even worse, having every disagreement or discussion publicized worldwide, it very damaging for the industry. The people involved may be using public infighting to garner support for their side, but it isn't helping their cause.

Good news - all the new ways to make Bitcoin purchasing easier!

[Chase]

Notable mention for smart politician. 


U.S. Congressman Seeks Blockchain Experts To Educate Lawmakers

Blockchain is gaining notice from at least one member of the U.S.Congress, according to TechTarget. U.S. Rep. David Schweikert, R-Ariz., called on attendees at the DC Blockchain Summit in Washington, D.C. to educate lawmakers about the technology’s benefits so that lawmakers can address it in a way that benefits the economy as opposed to excessive regulation.

Schweikert, who serves on the House of Representatives’ Financial Services Committee, noted banks are scrambling to ensure blockchain technology doesn’t disintermediate them. He said he has followed cryptocurrencies for a number of years.

Congress Needs Education

Only six or seven fellow Congress members understand the basic mechanics of the distributed ledger, Schweikert said. When The Economist published a cover story about blockchain technology last October, the Financial Services Committee bought dozens of copies to distribute to members of Congress to help bring them up to speed.

Banks and other financial services companies are scared that blockchain technology will put them out of business, he said. He wondered if the technology poses a disruptive threat to those in the money transfer business, the credit card infrastructure business, and the old processing systems.

Blockchain’s Potential

Schweikert recognized the benefits blockchain technology can provide. He said it has the potential to enable peer-to-peer value transfer between people — without requiring a government or bank to execute the transaction. He said this is a major threat to regional and community banks. This threat is particularly pronounced considering there are millions worldwide who up until now have been “unbankable” — lacking access to a bank account and therefore can’t participate in a credit-based economy.

With blockchain technology, a mobile phone and cryptocurrency, the unbankable can join the economy without ever doing business with a bank. This market represents a huge lost opportunity to financial services companies.

Financial Services Are At Risk

Banks aren’t the only businesses facing disintermediation, he said. Any company acting as an intermediary in financial transactions is at risk. “Say you want to sell stock,” he said. “Could I buy it directly from you and never have to have it land in another platform?”

While banks’ biggest problems once revolved around regulatory compliance requirements, the biggest threats they now face are cryptocurrencies.

Schweikert called on his audience, which included many blockchain technology advocates, to take action. He implored them that if they have relationships with “those of my kind, those of us who get elected and think we already know everything” to educate them on the benefits before the “control freaks” find a way to destroy the positive things blockchain could do for the economy and for the world.

https://www.cryptocoinsnews.com/u-s-congressman-calls-on-dc-blockchain-summit-to-educate-lawmakers-to-help-the-global-economy/

[DNotes]

I found this article to be very well written and helpful. The Case for Banks to Use Open, Public Blockchains

Marc Andreessen, the venture capitalist and inventor of the early web browser Mosaic, had it right when he tweeted in December: "Big companies desperately hoping for blockchain without Bitcoin is exactly like 1994: Can't we please have online without Internet?"

In the mid-90s, the advent of the Web led to private companies attempting to create proprietary information-sharing networks (think AOL and CompuServe.) But the Internet as we know it today won out over every single private network because it was not restricted to the big players and bogged down by proprietary protocols.

Banks are at risk of making the same mistake today as they show surprising interest in private distributed ledgers, or private blockchains, rather than put their intellectual capital to use on features that enhance the appeal of public blockchains and the virtual currencies – such as bitcoin – enabled by open-source ledger systems.

If the Internet and the web have taught us anything, it is that groundbreaking technology is often built on top of open protocols in a level playing field where anyone can innovate regardless of size and influence. Companies like Google and Facebook are possible precisely due to the open nature of the web.

There is no doubt that the use of private distributed ledgers can provide immediate improvements to some of the creaking infrastructure underlying the financial services industry, especially in the back office of securities settlement. But the financial industry's interest in building proprietary networks is, as Andreessen put it, like having "online without Internet."

There is more, but that was a good chunk that I was impressed with.

[DNotes]

Notable mention for smart politician. 


U.S. Congressman Seeks Blockchain Experts To Educate Lawmakers

Blockchain is gaining notice from at least one member of the U.S.Congress, according to TechTarget. U.S. Rep. David Schweikert, R-Ariz., called on attendees at the DC Blockchain Summit in Washington, D.C. to educate lawmakers about the technology’s benefits so that lawmakers can address it in a way that benefits the economy as opposed to excessive regulation.

Schweikert, who serves on the House of Representatives’ Financial Services Committee, noted banks are scrambling to ensure blockchain technology doesn’t disintermediate them. He said he has followed cryptocurrencies for a number of years.

Congress Needs Education

Only six or seven fellow Congress members understand the basic mechanics of the distributed ledger, Schweikert said. When The Economist published a cover story about blockchain technology last October, the Financial Services Committee bought dozens of copies to distribute to members of Congress to help bring them up to speed.

Banks and other financial services companies are scared that blockchain technology will put them out of business, he said. He wondered if the technology poses a disruptive threat to those in the money transfer business, the credit card infrastructure business, and the old processing systems.

Blockchain’s Potential

Schweikert recognized the benefits blockchain technology can provide. He said it has the potential to enable peer-to-peer value transfer between people — without requiring a government or bank to execute the transaction. He said this is a major threat to regional and community banks. This threat is particularly pronounced considering there are millions worldwide who up until now have been “unbankable” — lacking access to a bank account and therefore can’t participate in a credit-based economy.

With blockchain technology, a mobile phone and cryptocurrency, the unbankable can join the economy without ever doing business with a bank. This market represents a huge lost opportunity to financial services companies.

Financial Services Are At Risk

Banks aren’t the only businesses facing disintermediation, he said. Any company acting as an intermediary in financial transactions is at risk. “Say you want to sell stock,” he said. “Could I buy it directly from you and never have to have it land in another platform?”

While banks’ biggest problems once revolved around regulatory compliance requirements, the biggest threats they now face are cryptocurrencies.

Schweikert called on his audience, which included many blockchain technology advocates, to take action. He implored them that if they have relationships with “those of my kind, those of us who get elected and think we already know everything” to educate them on the benefits before the “control freaks” find a way to destroy the positive things blockchain could do for the economy and for the world.

https://www.cryptocoinsnews.com/u-s-congressman-calls-on-dc-blockchain-summit-to-educate-lawmakers-to-help-the-global-economy/

Excellent article, kudos Schweikert!