Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 112. (Read 814539 times)

I've noticed other altcoins have also dropped in price, mainly NXT. Sometimes it seems these price swings affect a bunch of altcoins at the same time, so it has little to do with the value of the coins themselves. I wonder if people are dumping in order to get some Christmas shopping in. I'm not selling any of my DNotes. Looking forward to what the future will bring.

No concern here, I certainly wouldn't sell any of mine, I just see an opportunity to buy! It would only take like... 2 btc and the price would be back at 4000 satoshi. I would purchase all that if I could!

The value of the various web properties created is definitely not factored into the price of DNotes, and that shouldn't really be a surprise - DNotes has not yet pushed to become a mainstream currency, and has not yet enjoyed the hysteria and growth associated with a successful marketing push one could expect to accompany such a plan (with funding). The web-properties however, will serve an important function in advertising the benefits of DNotes over other digital payment mediums at the most opportune time. As per usual, the selling is probably just a bot that needs to be reckoned with, and there is no point in feeding it. For now, DNotes is a speculative asset, and as such, it is much better for sellers to transfer their DNotes into the hands of others who will value them longer-term.

Build the infrastructure before it is needed, not after it is announced in the media you have been given funding - while everybody is wondering who you are, and what you're going to do just because you raised $xyz.

Exactly! Couldn't have said it better. So long as there is no true competitor to the monopoly on the monetary system, consumers of money (everybody) will continue to be forced to pay bank fees far beyond what a competitive market would provide. Banks will enjoy using the word 'efficiency' to promote their new innovation, however it just simplifies, and streamlines their services while not providing the consumer any benefit.

Sometimes I wonder whether the current 'need' is to have just one country in the world to come out being 'extremely pro' digital currency, one that will not impose strict regulations, nor vague regulatory wording that allows banks to stomp out the purchase of digital currency. The first country to do so would see MASSIVE capital inflows from overseas, even if the businesses that facilitated the transaction but took a small percentage fee in profit - that nation would stand to benefit immensely. Perhaps I'll mention it in my seminar on 'What could make NZ more prosperous? - The blockchain future'. Only one country would require significant lobbying and education to get these types of regulatory hurdles removed, and it could make life easier for everybody worldwide. Alternatively, if no country will cooperate, what about a bank that operates from a ship in international waters, just off the coast of say California? (I heard they plan to build a massive ship to be used as a city 10km from California's shore). If regulators will not get on side, the community will need to get creative to facilitate the financial on-ramp / off-ramp between fiat and digital currency. That is, until digital currency is accepted as wages and globally accepted! For now though, let's not use hope, there are plenty of smaller nations (like New Zealand), that I think could provide a realistic shot at getting this to work. However, given NZ is signatory to the TPPA...

Anyway, I will continue to think on this.  

Wow! You can now pick-up DNotes for less than 2000 satoshi. If there is a good reason why the price has dropped so much I certain do not know. Free market is based on supply and demand. Along those lines, it means that more DNotes have been put up for sale than there is a demand for them.

DNotes is built as a long term investment beyond just DNotes the currency. We are committed from day one to build a trusted global digital currency for everyone worldwide to participate. It can only be done based on a long term commitment and a lot of hard work. Other than supporting the currency when we can, we have been making significant investment in building our own infrastructure, without asking for any donations from our communities. Many from our communities have contributed in very significant ways to our overall success and we appreciate that very much.

As much it is discouraging to see such a severe price decline, we will stay the course and continue to execute as planned. I have been focusing in writing a book specifically to help small business owners, including women small business owners. This is part of our strategic business plan to introduce DNotes to as many small business owners and their employees as possible. I am very passionate about this and have no doubt that it is the best path for DNotes to be adopted as the medium of exchange. Banking and financial services are changing. This is a massive opportunity for those with a long term view. Technology revolution does not happen overnight. It takes years and decades. There are always challenges confronting early adoption. DNotes is the most proactive in confronting those challenges by building our own ecosystem, including CryptoMoms, DNotesVault, DCEBrief, our family of CRISP and more.

We are also on track to have a for profit company incorporated sometime during the first quarter of next year. As mentioned before, DNotes will own up to 25% of the company. We are planning for our first outside funding to take place at the second half of next year. Additionally, we will officially start promoting our CRISP for Kids, Retirement, Students and Employees beginning next year.

I know that everyone must be quite concerned. It is heartbreaking after all that hard work and what we have accomplished. We do not pump or dump but it has obviously proven that the market charts its own course and short term speculators do not differentiate.

Blockchain Weekly Recap 11-28-2015

Lloyd’s: Blockchain Could Help Resolve Insurance Industry Challenges.
Bitcoin and Beyond: Israeli Conference Shines Spotlight on Blockchain.
Bank of England Seeking Interns Familiar with Blockchain.
Visa Europe Tests Blockchain Proof of Concept for Remittances.
Next up For Blockchain: Student Government Voting?
ECOM21 2015 Gives Baltic Nations New Insight Into Blockchain.

http://dcebrief.com/blockchain-weekly-recap-11-28-2015/

Great! Thanks for reporting back. It may be helpful in the future.

It worked !
I think this can be a workaround for poeple with the same sync issues.

This is pretty incredible, a $65 monthly fee to trade bitcoin? That is the highest fee I've heard of for any kind of trading account, though I must admit I have limited exposure.

Coinsetter Blames Bitcoin Compliance Costs for New Account Fees

New York-based bitcoin exchange Coinsetter has instituted a new $65-per-month account fee, a move it says is aimed at offsetting its compliance costs.

In an email addressed to users and circulated on social media, Coinsetter told users that it was instituting the fee in a bid to "compensate for the increasing costs of holding bitcoin accounts in a US-based setting". The new fee is scheduled to go into effect on 1st December.

When reached for comment, the exchange confirmed the new fee and that proceeds would be used to defray compliance costs.

"The cost of maintaining smaller accounts is too expensive in the current environment," CEO Jaron Lukasiewicz told CoinDesk, acknowledging that the move would likely cost Coinsetter its retail customer base:

"This fee is necessary for us to compensate for the increasing costs of holding bitcoin accounts in a US-based setting, and we anticipate that most retail traders will withdraw their funds and move to another exchange.”

http://www.coindesk.com/coinsetter-bitcoin-compliance-costs-account-fees/

Great video. Blockchain may be called by different names, but centralized currency does not become decentralized currency by being routed through blockchain ledger. It will save participating banks time and money, allowing them to save on payroll by reducing employee head counts. Consumers are not likely to see reduction in fees as banks struggle to adjust and survive in a new era of exploding new financial technologies (FinTech).

Definitely, only 3 minutes, well worth watching.

Really good comparison between private and decentralized blockchains.

Bitcoin Weekly Recap 11-27-2015

Coinbase and Shift Unveil VISA Bitcoin Debit Card.
Bitwage Payroll Firm Announces 760k in Fundraising.
Andresen Suggests He May Take Lead on Bitcoin XT.
Bitcoin Bounty Offered to Catch Website Attacker.

http://dcebrief.com/bitcoin-weekly-recap-11-27-2015/

This is worth watching - Reggie Middleton youtube video on what's wrong with private blockchains:


https://www.youtube.com/watch?v=o7kD9HCFjHw

Just sent you a PM with the download link. Feel free to let us know how it worked out.

Here is a rather rosy report about the future of Bitcoin. Our industry will that all the good news it can get. Just notice that everyone is pushing the mass acceptance forward. It always takes longer.

BITCOIN PROJECTED TO BE SIXTH LARGEST GLOBAL RESERVE CURRENCY BY 2030

Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs.
 
Block chain is “without question” the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on a par with big data and machine learning. He compared the block chain to JAVA, saying that the block chain is to financial services what JAVA is to the Internet. Millar also noted that the block chain will be the “default global standard distributed ledger” for financial transactions.
$1 Billion To Be Invested Short Term

The leading 100 financial institutions will pump $1 billion into block chain and bitcoin related projects in the next one to two years, the research indicated. It also found that the top banks hold portfolios with 10 to 20 bitcoin-related initiatives. These include wire transfers often complemented by the storage of “meta data” in settlement and clearing.

The block chain’s potential in finance is even greater due to its flexibility and robustness, the research indicated. Potential uses include property registries, security infrastructure and direct payments.
The top private block chain firms are currently securing “seven figure” contracts with financial institutions. Some of the initiatives have proven to be robust enough to satisfy production needs and are “near production.”

Banks will be reluctant at first to change the infrastructure that manages clearance and settlement, Millar said, but they will deploy parallel bock chain processes as a result of the growing block chain investment.

Developing Markets To Adopt Bitcoin Quickly

Rising acceptance of bitcoin in developing markets will result in widespread business and consumer adoption.

The main use of bitcoin in developed markets is speculation, the research noted. The lack of volatility in bitcoin and the yield in traditional classes of assets are resulting in the creation of ETF equivalents or “money market funds.” The company estimates 90 percent of bitcoin is held for speculation as opposed to commercial transactions.

At the same time, estimates indicate 90 percent of bitcoin transactions by volume are commercial ones, oftentimes in developing countries.

Futures trading volumes are triple or more the volumes on stock exchanges, Millar said, noting that it is important not to underestimate the significance of speculation by traders.

Some large wallets report that 90 percent of bitcoin transactions take place in developing markets. Major bitcoin remittance players include Abra, Atlas and Bitpesa.

With 2 million smartphones becoming active daily and with corruption a factor in developing economies, the question arises: why have a bank account?


1 Million Daily Bitcoin Transactions
Data from blockchain.info reports there are close to 120,000 daily bitcoin transactions, Magister Advisors notes. However, this number under-reports the total transactions since it doesn’t include 300,000 “off chain” transactions by major wallet/vault companies like Xapo, Circle and Coinbase. The number of daily transactions is closer to 1 million, according to Millar.

Source:
https://www.cryptocoinsnews.com/bitcoin-projected-sixth-largest-global-reserve-currency-2030/

Hope everyone had a great Thanksgiving surrounded by family and friends!

It will be interesting to see how this plays out. They pointed out existing regulatory frameworks don't exactly fit, I think that is because they want to regulate the currency itself and can't. AML and KYC regulations exist in the financial services world, which digital currencies will still have financial services and those financial services institutions will have to follow those same rules. Any excessive regulation will have to apply across the board, to fiat as well as digital currency and I don't think people would put up with a straight out ban or regulation exclusive to digital currency. So the options are make it more difficult across the board, or jump on the train.

The entire banking and financial services industry will experience increasingly disruptive threats on a global basis. There is no place to hide and banks will continue to push back hard. Disruptions are not coming from Bitcoin and digital currency alone. The real "Uber Moment" will be when tens of millions of outlets are permitted to act a payment banks. Technically every Point of Sales (POS) is an ATM. Strictly speaking they are money changers. There will come a day when the citizens of the world can purchase $10 of DNotes from any POS like they can purchase $10 worth of other goods and services. This may be years from now but it will happen. But there will come a day when many DNotes transactions will be between two parties without middle men at nearly zero fees. That is when DNotes will become far superior to fiat currency. Money distribution will be widely available due to the "Uber" model but the "fees" will not go away.

Meanwhile, the "Uber Moment" may already taking place for banks in India:

“Payments banks can act as business correspondents for commercial banks and transport their services to almost every nook and corner of the country

RBI’s decision could lead to the development of an ecosystem wherein commercial banks can now tie up with any payments bank to access an elevated technological expressway to reach customers in far off places

Reserve Bank of India (RBI) permitted 11 entities—mostly companies—to set up payments banks. In the process, it rewrote precedence in Indian banking.

Payments banks offer the proposition to reach a significantly wider base of customers, which the existing banking infrastructure may take a long time to reach. Thus, commercial banks can use these payments banks to piggyback and offer loans and other such services which a payments bank cannot offer as they can only take deposits.

Payments banks can act as business correspondents for the universal banks and transport their services to almost every nook and corner of the country.

Delivering his Independence Day address, Prime Minister Narendra Modi summed up the NDA’s approach and said, “We resolved that we would erase this blot and would provide a solid base to the financial inclusion which is talked about the world over, by integrating the poorest of the poor to the mainstream economic activities; and this is only the beginning.”

It really sounds like confidence in Bitcoin is growing. I agree with the general theme of the discussion, that a battle with Bitcoin is one that bankers are certain to lose. Their best hope is to work with the industry and help it flourish.

I feel the article and comments here warrant p a t i e n t reading:

https://www.reddit.com/r/ethereum/comments/3u2ka6/the_bis_report_bankers_show_their_teeth/

Happy Thanksgiving to our neighbors down south. I always look forward to watching football on American thanksgiving!