“Speculation is NOT a dirty word. I feel this community sees speculators as pump and dump vultures. We need to expunge this toxic idea from our consciousness. Speculators are not the enemy, they are the lifeblood of a project like this. When Google and Facebook and Amazon IPO their companies on the market, they're offering shares to SPECULATORS to catapult their business potential into the stratosphere. The best thing a company can do to grow is to attract speculators on purpose by offering them shares, or in our case coins.”
I agree with you that speculation is not a dirty work. Loosely used, we all are speculators and all business owners and investors are speculators. We are not against speculators or have made any attempts to discourage them from investing in DNotes. This is a free market. People buy and sell at will. However, I can say this definitively:
• We do not support pump and dump, but not all speculators are part of P&D
• By strategic choice DNotes is positioned as a long term investment and as such not likely to be a favorite of short term investors
• DNotes is not dependent on the industry as its only market target. It has been positioning itself to reach out to the global market, as reflected in the creation of CryptoMoms, Family of CRISPs, DNotesVault and DCEBrief. Achieving marketing penetration beyond our industry, is a very long process with little near term payoff but the correct path to gain mass acceptance over the long haul. This will not happen overnight. A 5 to 10 year period reasonable for any long term investment.
• We believe that the true value of DNotes can only be realized if it can meet the full functions of money (unit of account, store of value, and medium of exchange) not a single digital currency including DNotes and Bitcoin has succeeded so far. Consequently, I have to add that the bankers, including Jamie Dimon, CEO of JP Morgan Chase, has good reasons not to consider our industry as a threat. We will not be until there is a digital currency that can meet or exceed the full functions of money. That is DNotes’ strategic goal but it will take years to accomplish our mission, hence a long road ahead.
• Technology evolves quickly. Many great “innovations” in our industry that have driven the price of many altcoins to the “moon” are now ice-cold rocks on earth. Investing heavily in technologies before there are sufficient users’ demands is not the best use of limited resources. Many great ideas or projects failed because they invested heavily in technology and other infrastructure before there is sufficient need for what they have to offer. Investing heavily in payment network and mobile applications at this time or promoting DNotes as a medium of exchange is a loosing proposition. Many have tried and they all have failed.
Mochillies, I appreciate the time you spent to express your opinion, but I respectfully disagree that we have to change course in response to the DNotes price decline. I understand the concern and it is disappointing to me as well. That is the nature of speculative investing in a free market environment.
If you believe that there are things that you can do to help improve DNotes stakeholders’ value I am sure you will get the support of our community and it will be very much appreciated. We are all stakeholders with a mutual interest to see that DNotes be successful. It is very natural that there are differences of opinion on the best way of getting there. Perhaps if more people could pitch in to help, it may make a difference.
Ok, lets look at price. DNotes is currently number 174 out of 672 AltCoins in price alone. But, we number 38 out of 672 in Market Capitalization. Sorry, I don't see a problem here. As with all things in nature and human kind, slow and steady is the way to lasting success. At the present time, it is less important that each DNote has a high value, then it is that people know about DNotes, wither they use, or hold them, or not.
As a relatively new coin, DNotes has done quite well in it's short lifetime. As the coin matures along with it's ecosystem, the value will start to rise, slowly. And that is the key. Almost all altcoins that have achieved a high monetary value in a short time have either failed completely or are almost worthless now. There are some exceptions but, they mostly serve niche markets, some of which DNotes would not want to be connected to.
Our marketing will spread the word in a realistic and sustainable manor. There is no long term value to being a "flash in the pan". Consider this analogy; the Pyramids in Egypt still stand, they took a lifetime to build. Your typical house built today in a month will be gone a hundred years from now. Slow and steady with solid foundations will endure the test of time, and with time comes value.
On a different subject but, not far removed, here's one of the best articles on crypto detractors and supporters I have ever read:
http://bit.ly/1NgEGLL
In some ways it speaks to Notes as well as Bitcoin.
Thanks, RJF. That is indeed one of the best articles ever published in our industry. Bitcoin as a digital currency is a proven technology. It works perfectly and no one has won a fight challenging that. So that battle has indeed been won. Those who dismissed that are either misinformed or do not know what they are talking about.
Using just the Blockchain to facilitate the movement of decentralized fiat currency does not turn fiat currency into decentralized digital currency like DNotes. We are under no illusion that DNotes will replace fiat or national currency but we firmly believe that DNotes can be positioned to supplement fiat or national currencies on a global basis one day. We also believe that it is a worthy mission and a great deed for humanities. A digital currency that makes ownership available, with the same valuable for anyone worldwide, is by far a better choice, than a fiat currency at the mercy of a single nation subject to corruptions and political turmoil.
We also know that to make that possible, it takes an unrelenting strategic plan that takes years to execute.