Great article here Edmund C. Moy (former director of the US Mint) talks at the bitcoin investor conference about how bitcoin can privatize money again.
“[One] reason why I like cryptocurrencies and where my mind has gone on all this is that when you take a look at our earliest notions of money — money was in private hands. You found electrum, which is basically a mixture of gold and silver in the ground. Sizes were important, and if you just pounded it into a mold — and you use that in trade, so money was very — it was in private hands, it was the ultimate democratization of money.”
“Well, I see bitcoin as the improvement in technology that allows money to be privatized again, back where it should be because it is my belief that one of the main uses of money is economic transactions. Why is government involved in economic transactions except for the ability to tax that transaction and get their income out of it? So, if money is primarily used in economic transactions between two people, then it makes a lot of sense to me that — if current technology allows, then money should be privatized because it’s used between two people.”
http://insidebitcoins.com/news/former-director-of-us-mint-bitcoin-allows-money-to-be-privatized-again/35866
“[One] reason why I like cryptocurrencies and where my mind has gone on all this is that when you take a look at our earliest notions of money — money was in private hands. You found electrum, which is basically a mixture of gold and silver in the ground. Sizes were important, and if you just pounded it into a mold — and you use that in trade, so money was very — it was in private hands, it was the ultimate democratization of money.”
“Well, I see bitcoin as the improvement in technology that allows money to be privatized again, back where it should be because it is my belief that one of the main uses of money is economic transactions. Why is government involved in economic transactions except for the ability to tax that transaction and get their income out of it? So, if money is primarily used in economic transactions between two people, then it makes a lot of sense to me that — if current technology allows, then money should be privatized because it’s used between two people.”
http://insidebitcoins.com/news/former-director-of-us-mint-bitcoin-allows-money-to-be-privatized-again/35866
"if money is primarily used in economic transactions between two people, then it makes a lot of sense to me." That is DNotes’ ultimate goal. I have mentioned that in a number of my previous posts, that when the vast majority of DNotes transactions are between two parties, there will be little doubt that DNotes is superior to fiat currency. Getting to that point will take years and a lot of strategic positioning and great executions.
It will be great if we can write an article about this subject for DCEBrief. DNotes is a long term large scale global project that will take years or even decades to reach its ultimate goal - to facilitate the vast majority of the transactions between two parties. If you understand our ultimate goal you will understand and appreciate all the extra work and commitments we have subjected ourselves to. It is a lot of very hard work and not always a lot of fun. We believe that for DNotes to be the trusted global digital currency for everyone world to participate, thereby gaining mass acceptance - that is what it takes.
What has DNotes been doing differently?
1. Culture
Recognizing the fragmented and chaotic nature of our industry, we started by creating a culture of mutual respect, cooperation, and team work resulting in a productive and rewarding community atmosphere many characterized as “refreshing”. DNotes is now a respected currency with a purpose. This has made it possible for DNotes to have its own ecosystem system without outside funding. It is quite an amazing accomplishment for anyone who knows what it takes.
2. A trusted Brand
DNotes has built a trusted brand and will continue down that path. TRUST is invaluable in financial services. A significant part of DNotes' future growth will involve financial services.
3. Dedicated Long Term Commitment
The DNotes team and many of its stakeholders are long term investors. The vast majority of them are net buyers investing for the long term. We do not participate in pump and dump. Unfortunately, trading bots including some likely operated by some exchanges are making price stability nearly impossible to achieve. We will continue to support the market but becoming very reluctant to “feed the bot”. We are less concerned about volatilities until we start promoting DNotes as a medium of exchange. By then, we believe that other mechanisms will be in place to address that issue.
4. Women’s Full Participation - CryptoMoms
We are totally committed to encourage and assist women’s participation in the digital currency space. It is most encouraging to note that CryptoMoms broke the record of 13,000 registered members today after being launched less than 1 ½ years ago. Expect us to be doing a lot more to empower women in the future. I will personally be heading up a major project to assist women small business owners. Anyone, interested to participate may contact me. Women should not be left behind in this massive emerging industry.
5. Saving For The Future – CRISP
Everything that we do for DNotes is done for strategic reasons or for a good cause; positioning DNotes to accomplish the ultimate goal of mass acceptance on a global scale. It is not how big the project is at launch, but how well positioned it is for global expansion at the appropriate time.
Our family of CRISPs for children, students, employees and retirees are designed to fulfill our mission to make DNotes available for everyone worldwide to participate. We believe that disciplined savings for the long term, done on regular bases, is a good thing for everyone. Our job is to provide for the convenience, safety, and long term appreciating value of DNotes. Consequently, DNotes is managed as a business, but not controlled as a business.
6. DNotesVault
DNotesVault is a significant service for our stakeholders, at no cost. It is easier to open a DNotes Vault account than a bank account. It is also secure. We guarantee 100% of your deposit through a separate cold storage account, secured in a different location, with an amount always in excess of the total deposit. The guaranteed funds are verifiable any time through the blockchain.
7. DCEBrief
DCEBrief is the latest addition to our ecosystem built to provide objective, unbiased news on the latest developments in the world of digital currency, in “Executive Summary” format, with no fluff or filler. DCEBrief's mission is to ensure decision makers, busy executives and everyday people worldwide can access the information they need, to help them understand the often misunderstood Digital Currency industry.
The DNotes’ Difference:
If you are new to DNotes, we hope you got a better sense of the DNotes’ difference. Our ultimate objective is for DNotes to gain mass acceptance as the digital currency of choice in global commerce, where the vast majority of the DNotes transactions are between two parties without the control of any central authority or middleman. We are not hoping that it could happen. We have been executing multiple strategic plans to make it happen. DNotes and its ecosystem is not just a vision or a wishful business plan; it is a large scale global project with completed solid foundation and multiple functioning systems as outlined above. As we expand, there will be many opportunities in different areas. Get to know us early, if you have exceptional skill-sets and like to be a part of our team. Feel free to PM me.
