Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 107. (Read 814539 times)
December 06, 2015, 08:32:44 PM
' . . . it is premature to assume that it's going to go down . . . "
Thanks for your post, Wiser. I was reluctant to ask for info because The Frankenstein of Wild Speculation keeps busting out of the lab, and killing the villagers. Your conclusion accords with mine.
Mark (IndiaMikeZulu), Australia
December 06, 2015, 07:15:09 PM
Thanks for the thoughtful comments people have made about Cryptsy. I thought I'd weigh in. I've used them quite heavily, mainly because I regularly trade Devcoins and Cryptsy is the only exchange I know of that supports Devcoins, so in that sense I'm stuck.
About a week ago I had a hard time with a BTC withdrawal. It wasn't very large, and it did clear a little after 24 hours. I had put in a ticket and did get a timely response to it, though never any follow-up responses if I added to it. I've since withdrawn NeuCoins a couple times with no problems. I've heard that other coins that take a long time are LTC, DOGE, and DMD, and I think DGB, but I haven't tried any of those. An annoying thing right now is that the user Paycoin wallets have been in maintenance for at least three weeks and there doesn't seem to be much indication they will go back online anytime soon. The response to my own ticket on that issue said that this would be escalated to 2nd level support but I haven't heard anything since.
I largely agree with RJF, that the organization is really truly having technical difficulties, and that it is premature to assume that it's going to go down just like Mt. Gox did, or that the technical difficulties are only excuses for larger problems such as insolvency. I agree with Dyna that Cryptsy needs to seriously improve its customer service and public relations. It would be great, for example, if they tweeted updates about what's going on. Even when things aren't ideal, if customers know what to expect, that makes a huge difference. I mean, if Cryptsy were to say publicly that due to technical difficulties, withdrawal requests for certain coins (list them) are taking from 24 to 72 hours, then people will simply plan accordingly. It's the not knowing combined with the memory of the Mt. Gox fiasco (where "technical difficulties" were blamed to mask the insolvency issues) that is causing lots of fear and speculation (the pack mentality RJF alluded to).
About a week ago I had a hard time with a BTC withdrawal. It wasn't very large, and it did clear a little after 24 hours. I had put in a ticket and did get a timely response to it, though never any follow-up responses if I added to it. I've since withdrawn NeuCoins a couple times with no problems. I've heard that other coins that take a long time are LTC, DOGE, and DMD, and I think DGB, but I haven't tried any of those. An annoying thing right now is that the user Paycoin wallets have been in maintenance for at least three weeks and there doesn't seem to be much indication they will go back online anytime soon. The response to my own ticket on that issue said that this would be escalated to 2nd level support but I haven't heard anything since.
I largely agree with RJF, that the organization is really truly having technical difficulties, and that it is premature to assume that it's going to go down just like Mt. Gox did, or that the technical difficulties are only excuses for larger problems such as insolvency. I agree with Dyna that Cryptsy needs to seriously improve its customer service and public relations. It would be great, for example, if they tweeted updates about what's going on. Even when things aren't ideal, if customers know what to expect, that makes a huge difference. I mean, if Cryptsy were to say publicly that due to technical difficulties, withdrawal requests for certain coins (list them) are taking from 24 to 72 hours, then people will simply plan accordingly. It's the not knowing combined with the memory of the Mt. Gox fiasco (where "technical difficulties" were blamed to mask the insolvency issues) that is causing lots of fear and speculation (the pack mentality RJF alluded to).
December 06, 2015, 05:49:41 PM
The latest move by the Greek government to have its citizens declare assets is disturbing. This path is a slippery slope and while they appear to only be targeting the wealthy (for now), what is stopping them from moving on to everyone? The wealthy generally have the means and financial sophistication to hide assets abroad, so it is unlikely the government will ever have full knowledge of their assets.
Greek Asset Declaration Another Battle in War on Cash: Will Bitcoin be the New Weapon of Choice?
http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-mattress-jewelry-and-precious-stones
Pretty scary, I can only imagine what they could possibly need that information for. Reminded me of a recent article I read "Law enforcement took more stuff from people than burglars did last year" the title says it all.
December 06, 2015, 05:15:48 PM
The latest move by the Greek government to have its citizens declare assets is disturbing. This path is a slippery slope and while they appear to only be targeting the wealthy (for now), what is stopping them from moving on to everyone? The wealthy generally have the means and financial sophistication to hide assets abroad, so it is unlikely the government will ever have full knowledge of their assets.
Greek Asset Declaration Another Battle in War on Cash: Will Bitcoin be the New Weapon of Choice?
http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-mattress-jewelry-and-precious-stones
December 06, 2015, 04:02:30 PM
Here's a WSJ article from 2013 with statistics that show how indebted the world really is. I know most of you are already aware of this, but what is most troubling is the exponential rate at which the debt is growing.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
Looks like it's time for a hard reboot on a global level. Of course, we have just the right currency to help out....
I become more confident in that prospect every day. Other than cryptocurrency, there is no bandaid large enough to patch the wounded global economy.
It is frightening. Although we will be quite involved in Block technology and other related businesses, we are totally committed to the currency side of the equation. This article is a good reminder as to why we are so committed to give DNotes the best change of being the trusted global digital currency for everyone to participate. For that to happen, we are talking about something that is very large scale that can only happen if DNotes is well positioned with a solid foundation.
Essentially, that is what we have been doing. But apparently, not everyone has the kind of patience or foresight to see it that way. The long term global economic trends are quite troubling. It is not sustainable without drastic changes. Unfortunately, I am personally not hopeful that changes will be made any time soon. We need a global digital currency that can serve, in a big way, as a supplement to global fiat currencies, though not as a replacement. However, even as a supplementary currency it is a massive project and we are only at the infancy. Let’s us not be too concerned about the daily prices of DNotes but focus in building DNotes as the currency with a purpose, so that if there is a systemic failure in the global financial system, there is still something left to hold on to.
December 06, 2015, 02:37:11 PM
Here's a WSJ article from 2013 with statistics that show how indebted the world really is. I know most of you are already aware of this, but what is most troubling is the exponential rate at which the debt is growing.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
Looks like it's time for a hard reboot on a global level. Of course, we have just the right currency to help out....
I become more confident in that prospect every day. Other than cryptocurrency, there is no bandaid large enough to patch the wounded global economy.
December 06, 2015, 02:03:30 PM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
Thank you, RJF. It's very helpful that you are able to share your experience with us. You have been around in our industry a lot longer than I have and I know that your comments are always objective, which is very helpful especially when there is a great deal of confusion in our industry due to "pack mentality" as you correctly pointed out.
I would characterize my experience with Cryptsy as frustrating and in some instances annoying and give their customer services and PR a failing grade. Sadly, Cryptsy is quite typical of many small businesses. They may be excellent in a number of things but totally failed to recognize the vital importance of other areas. The business world has been rapidly changing. It is becoming significant more competitive; there are many more options and choices, and many things are done in real time.
Among others, sales and customer acquisitions techniques are rapidly changing. Social media has forced public relation to be a key contributor of success or failure. Relationship and partnership with customers are becoming increasing more important. Unfortunately, in my opinion, Cryptsy does not seem to recognized any of these. As you know, we had high hopes on Cryptsy when we mounted our campaign to get listed there. I wish they can do better. They must change their mind-set and place a high value on their customers. Building a volume business is hard, but loosing it due to poor business practices - rebuilding is drastically harder.
Basically, I agree with you on all counts. They are a product of the coders and programmers world where customer service does not exist. Many tech startups have a very difficult time transitioning from "code mills" populated with programmers and designers to real life businesses that have to interface with people who do not understand the inner workings of technology but want to use it and, cannot be bothered by how elegant the code is, they just want their money's worth and they want it now.
I believe the key to success for these companies is to find customer support people who have worked in non technical support as well as technical support. The need folks with people skills which are even more important than folks with only tech skills.
Which would you rather be told? "It's not us, it's your old computer, you need to upgrade." or "I'm sorry you having a problem making that transfer. Can I ask you a few questions about your equipment? You may want to add some more memory or a faster Internet connection." Always engage people like they pay your salary, which, in essence, they do. The person on the other line of the second example will feel good about upgrading after all is said and done. In the first example, they will find another exchange that supports their old junk better.
It's all in the way you approach the public. After all, they don't know you, they don't know the boss or founder, all they is that it doesn't work and you don't want to help. Scratch one customer....
Reasonable people, expect and accept problems from time to time, arising from oversight, technical problems, and minor mistakes. Whether the issues are ignored or handled responsively make a world of difference. My experience has been that Cryptsy has more issues than others. In addition, they are not responsive or do not communicate at all. It gave me the feeling that "this is how we conduct business and how you feel about is not important to us." Every single customer is a valued customer. When one feels that his business is not valued and appreciated he will make the adjustment to look at other options and choices. This is so fundamental to business success but often ignored.
EXACTLY!! It is not if and when mistakes will happen. Mistakes WILL be made. It is how that mistake is addressed that makes the difference. The worst thing any company can do is ignore the problem. It will not go away, only fester. Coming from a business background, I was appalled at how most companies were being run in the crypto-currency world. (mostly the exchanges). I think there are many reasons for this, being formost is being a new, cutting edge industry, with few rules, and "not-your-normal-business-owners". As the industy matures, this will change drastically.
Smokey
December 06, 2015, 01:41:31 PM
Here's a WSJ article from 2013 with statistics that show how indebted the world really is. I know most of you are already aware of this, but what is most troubling is the exponential rate at which the debt is growing.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
Looks like it's time for a hard reboot on a global level. Of course, we have just the right currency to help out....
December 06, 2015, 01:08:33 PM
Here's a WSJ article from 2013 with statistics that show how indebted the world really is. I know most of you are already aware of this, but what is most troubling is the exponential rate at which the debt is growing.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
http://www.wsj.com/articles/BL-REB-18916
Number of the Week: Total World Debt Load at 313% of GDP
May 11, 2013 5:00 a.m. ET
$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
Advanced economies tend to draw attention for their debt at the government and household levels. But emerging markets are gathering debt at an increasing pace to drive their economic development.
In a comprehensive report on global indebtedness, economists at ING found that debt in developed economies amounted to $157 trillion, or 376% of GDP. Emerging-market debt totaled $66.3 trillion at the end of last year, or 224% of GDP.
The $223.3 trillion in total global debt includes public-sector debt of $55.7 trillion, financial-sector debt of $75.3 trillion and household or corporate debt of $92.3 trillion. (The figures exclude China’s shadow finance and off-balance-sheet financing.)
“Increasingly, ‘debt’ is seen as a dirty word,” the ING research team said in a report released this week. “But in most cases, it should not be. Perhaps it is no coincidence that the rise of U.S. indebtedness coincided with improvements in technology and the globalization of trade, human labor and finance. Computers allowed for speedier processing and better and more transparent access to credit risk data.”
“Debt can become dirty when the rise of debt service costs exceeds income and a borrower’s long-term ability to make payments and often when rapid growth of debt and/or lack of adequate transparency disguises creditworthiness issues,” they write.
Global trade has played a leading role in driving debt dynamics as emerging markets increasingly supplied low-cost labor and raw materials in recent decades. But emerging-market debt has grown only slightly faster than economies. A decade ago, total emerging-market debt was $18.8 trillion, or 214% of GDP. (Now it’s $66.3 trillion, or 224% of GDP.)
Per-capita indebtedness is still just $11,621 in emerging economies (and rises to $12,808 if you exclude the two largest populations, China and India). For developed economies, it’s $170,401. The U.S. alone has total per-capita indebtedness of $176,833, including all public and private debt.
December 06, 2015, 11:47:25 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
Thank you, RJF. It's very helpful that you are able to share your experience with us. You have been around in our industry a lot longer than I have and I know that your comments are always objective, which is very helpful especially when there is a great deal of confusion in our industry due to "pack mentality" as you correctly pointed out.
I would characterize my experience with Cryptsy as frustrating and in some instances annoying and give their customer services and PR a failing grade. Sadly, Cryptsy is quite typical of many small businesses. They may be excellent in a number of things but totally failed to recognize the vital importance of other areas. The business world has been rapidly changing. It is becoming significant more competitive; there are many more options and choices, and many things are done in real time.
Among others, sales and customer acquisitions techniques are rapidly changing. Social media has forced public relation to be a key contributor of success or failure. Relationship and partnership with customers are becoming increasing more important. Unfortunately, in my opinion, Cryptsy does not seem to recognized any of these. As you know, we had high hopes on Cryptsy when we mounted our campaign to get listed there. I wish they can do better. They must change their mind-set and place a high value on their customers. Building a volume business is hard, but loosing it due to poor business practices - rebuilding is drastically harder.
Basically, I agree with you on all counts. They are a product of the coders and programmers world where customer service does not exist. Many tech startups have a very difficult time transitioning from "code mills" populated with programmers and designers to real life businesses that have to interface with people who do not understand the inner workings of technology but want to use it and, cannot be bothered by how elegant the code is, they just want their money's worth and they want it now.
I believe the key to success for these companies is to find customer support people who have worked in non technical support as well as technical support. The need folks with people skills which are even more important than folks with only tech skills.
Which would you rather be told? "It's not us, it's your old computer, you need to upgrade." or "I'm sorry you having a problem making that transfer. Can I ask you a few questions about your equipment? You may want to add some more memory or a faster Internet connection." Always engage people like they pay your salary, which, in essence, they do. The person on the other line of the second example will feel good about upgrading after all is said and done. In the first example, they will find another exchange that supports their old junk better.
It's all in the way you approach the public. After all, they don't know you, they don't know the boss or founder, all they is that it doesn't work and you don't want to help. Scratch one customer....
Reasonable people, expect and accept problems from time to time, arising from oversight, technical problems, and minor mistakes. Whether the issues are ignored or handled responsively make a world of difference. My experience has been that Cryptsy has more issues than others. In addition, they are not responsive or do not communicate at all. It gave me the feeling that "this is how we conduct business and how you feel about is not important to us." Every single customer is a valued customer. When one feels that his business is not valued and appreciated he will make the adjustment to look at other options and choices. This is so fundamental to business success but often ignored.
When I was in the Internet Provider and networking business, we spent more on competent support people than on engineering. That's not to say engineering was lacking but, without customers, there was no need for engineers...
December 06, 2015, 11:10:20 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
Thank you, RJF. It's very helpful that you are able to share your experience with us. You have been around in our industry a lot longer than I have and I know that your comments are always objective, which is very helpful especially when there is a great deal of confusion in our industry due to "pack mentality" as you correctly pointed out.
I would characterize my experience with Cryptsy as frustrating and in some instances annoying and give their customer services and PR a failing grade. Sadly, Cryptsy is quite typical of many small businesses. They may be excellent in a number of things but totally failed to recognize the vital importance of other areas. The business world has been rapidly changing. It is becoming significant more competitive; there are many more options and choices, and many things are done in real time.
Among others, sales and customer acquisitions techniques are rapidly changing. Social media has forced public relation to be a key contributor of success or failure. Relationship and partnership with customers are becoming increasing more important. Unfortunately, in my opinion, Cryptsy does not seem to recognized any of these. As you know, we had high hopes on Cryptsy when we mounted our campaign to get listed there. I wish they can do better. They must change their mind-set and place a high value on their customers. Building a volume business is hard, but loosing it due to poor business practices - rebuilding is drastically harder.
Basically, I agree with you on all counts. They are a product of the coders and programmers world where customer service does not exist. Many tech startups have a very difficult time transitioning from "code mills" populated with programmers and designers to real life businesses that have to interface with people who do not understand the inner workings of technology but want to use it and, cannot be bothered by how elegant the code is, they just want their money's worth and they want it now.
I believe the key to success for these companies is to find customer support people who have worked in non technical support as well as technical support. The need folks with people skills which are even more important than folks with only tech skills.
Which would you rather be told? "It's not us, it's your old computer, you need to upgrade." or "I'm sorry you having a problem making that transfer. Can I ask you a few questions about your equipment? You may want to add some more memory or a faster Internet connection." Always engage people like they pay your salary, which, in essence, they do. The person on the other line of the second example will feel good about upgrading after all is said and done. In the first example, they will find another exchange that supports their old junk better.
It's all in the way you approach the public. After all, they don't know you, they don't know the boss or founder, all they is that it doesn't work and you don't want to help. Scratch one customer....
Reasonable people, expect and accept problems from time to time, arising from oversight, technical problems, and minor mistakes. Whether the issues are ignored or handled responsively make a world of difference. My experience has been that Cryptsy has more issues than others. In addition, they are not responsive or do not communicate at all. It gave me the feeling that "this is how we conduct business and how you feel about is not important to us." Every single customer is a valued customer. When one feels that his business is not valued and appreciated he will make the adjustment to look at other options and choices. This is so fundamental to business success but often ignored.
December 06, 2015, 10:58:03 AM
Digital Currency Weekly Recap 12-6-2015
Pub in Scotland Accepts Scotcoin for Stone of Destiny.
DogeTipBot Creator Mohland Says Farewell to Cryptocurrency.
Zainab Adeiza: Why Nigeria Lags in Digital Currency Response.
Goldman Sachs Applies for Patent Related to SETLcoin.
http://dcebrief.com/digital-currency-weekly-recap-12-6-2015/
Pub in Scotland Accepts Scotcoin for Stone of Destiny.
DogeTipBot Creator Mohland Says Farewell to Cryptocurrency.
Zainab Adeiza: Why Nigeria Lags in Digital Currency Response.
Goldman Sachs Applies for Patent Related to SETLcoin.
http://dcebrief.com/digital-currency-weekly-recap-12-6-2015/
December 06, 2015, 09:59:38 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
Thank you, RJF. It's very helpful that you are able to share your experience with us. You have been around in our industry a lot longer than I have and I know that your comments are always objective, which is very helpful especially when there is a great deal of confusion in our industry due to "pack mentality" as you correctly pointed out.
I would characterize my experience with Cryptsy as frustrating and in some instances annoying and give their customer services and PR a failing grade. Sadly, Cryptsy is quite typical of many small businesses. They may be excellent in a number of things but totally failed to recognize the vital importance of other areas. The business world has been rapidly changing. It is becoming significant more competitive; there are many more options and choices, and many things are done in real time.
Among others, sales and customer acquisitions techniques are rapidly changing. Social media has forced public relation to be a key contributor of success or failure. Relationship and partnership with customers are becoming increasing more important. Unfortunately, in my opinion, Cryptsy does not seem to recognized any of these. As you know, we had high hopes on Cryptsy when we mounted our campaign to get listed there. I wish they can do better. They must change their mind-set and place a high value on their customers. Building a volume business is hard, but loosing it due to poor business practices - rebuilding is drastically harder.
Basically, I agree with you on all counts. They are a product of the coders and programmers world where customer service does not exist. Many tech startups have a very difficult time transitioning from "code mills" populated with programmers and designers to real life businesses that have to interface with people who do not understand the inner workings of technology but want to use it and, cannot be bothered by how elegant the code is, they just want their money's worth and they want it now.
I believe the key to success for these companies is to find customer support people who have worked in non technical support as well as technical support. The need folks with people skills which are even more important than folks with only tech skills.
Which would you rather be told? "It's not us, it's your old computer, you need to upgrade." or "I'm sorry you having a problem making that transfer. Can I ask you a few questions about your equipment? You may want to add some more memory or a faster Internet connection." Always engage people like they pay your salary, which, in essence, they do. The person on the other line of the second example will feel good about upgrading after all is said and done. In the first example, they will find another exchange that supports their old junk better.
It's all in the way you approach the public. After all, they don't know you, they don't know the boss or founder, all they is that it doesn't work and you don't want to help. Scratch one customer....
December 06, 2015, 09:43:48 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
Thank you, RJF. It's very helpful that you are able to share your experience with us. You have been around in our industry a lot longer than I have and I know that your comments are always objective, which is very helpful especially when there is a great deal of confusion in our industry due to "pack mentality" as you correctly pointed out.
I would characterize my experience with Cryptsy as frustrating and in some instances annoying and give their customer services and PR a failing grade. Sadly, Cryptsy is quite typical of many small businesses. They may be excellent in a number of things but totally failed to recognize the vital importance of other areas. The business world has been rapidly changing. It is becoming significant more competitive; there are many more options and choices, and many things are done in real time.
Among others, sales and customer acquisitions techniques are rapidly changing. Social media has forced public relation to be a key contributor of success or failure. Relationship and partnership with customers are becoming increasing more important. Unfortunately, in my opinion, Cryptsy does not seem to recognized any of these. As you know, we had high hopes on Cryptsy when we mounted our campaign to get listed there. I wish they can do better. They must change their mind-set and place a high value on their customers. Building a volume business is hard, but loosing it due to poor business practices - rebuilding is drastically harder.
December 06, 2015, 08:31:46 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
I use Cryptsy for 80% of my transactions. Other than being a little slow on some coins, the problem is one of "growing pains" They are still tweaking their new platform and delays are possible. This is normal for the industry, most code is custom and debugging is a never ending chore. Cryptsy has it's share of detractors and doomsayers in these forums but, they certainly appear to be solvent (my opinion of course) and they are not doing anything underhanded or illegal, that would be downright stupid. Folks need to remember, they are a US financial company located in Florida.
That puts them under the microscope much more than "fly-by-nights" in third world countries. It is truly a shame when the "pack mentality" decides to attack just because they enjoy watching others suffer. (not speaking about ANYONE here) So, if things are a little slow, it's not nefarious, its nature of the beast after a major upgrade.
December 06, 2015, 03:03:06 AM
Thanks, guys. Crypto folk from several coins have reported difficulties, and I thought I'd just ask.
December 05, 2015, 07:11:00 PM
Info-gathering not concern-raising:
if you have any gos on Cryptsy, please do post it.
Mark
if you have any gos on Cryptsy, please do post it.
Mark
The only thing I've heard is people having trouble withdrawing certain coins, withdrawing is taking a long time. People were converting to other coins which are successfully able to be withdrawn.
Withdrawing DNotes at Cryptsy is not a problem. I just completed a withdrawal successfully. There has been a noticeable increase in DNotes purchase at Cryptsy today.
December 05, 2015, 05:23:09 PM
Info-gathering not concern-raising:
if you have any gos on Cryptsy, please do post it.
Mark
if you have any gos on Cryptsy, please do post it.
Mark
The only thing I've heard is people having trouble withdrawing certain coins, withdrawing is taking a long time. People were converting to other coins which are successfully able to be withdrawn.
December 05, 2015, 04:47:40 PM
Info-gathering not concern-raising:
if you have any gos on Cryptsy, please do post it.
Mark
if you have any gos on Cryptsy, please do post it.
Mark
December 05, 2015, 04:26:20 PM
Always great to watch him speak. This is an older video I happen to run across, https://www.youtube.com/watch?v=ncPyMUfNyVM , Andreas Antonopoulos - 51% Bitcoin Attack. However, this is the video I was looking for https://www.youtube.com/watch?v=_0mykANOMGQ, Wired Money 2015 - Andreas M Antonopoulos - Bitcoin is the real disruptor
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