Can I be honest here?
I read a lot about how DNOTES could theoretically do xyz in some idealized future when crypto runs the world. But nothing about what the technology development of DNOTES is realistically doing right now. What is the development roadmap? What will DNOTES aim to technically achieve in the next 3-6-12 months to make this future a possibility?
I'm talking actual code and releases and shipping solutions, not making press releases, going to expos and having one lily garden center accepting it.
I feel like this thread is 99% smooth talking the talk (of which 75% is either about the DCEBrief website or some random news articles about Bitcoin) and 1% walking any kind of progress walk for the currency itself.
Resassure me here that we're not just stumbling around in some blind circlejerk, posting empty news articles about vague economics and an imaginary future to distract ourselves from the apparent lack of any genuine productized technical direction and progress.
Tell me something real that's going on with DNOTES the cryptocurrency as a technology platform, not just journalism and fluff.
May I also be honest here?
"Imaginary" and "Idealized" are adjectives, and adjectives do not constitute a dismissive argument against a contrarian view.
I read a lot about how current currency a,b,c can do xyz now in a world where nobody could care any less for its existence, and I've yet to see one such currency take off and become useful in any way other than speculative trade because either the world isn't ready for crypto, or a new currency comes along about the same time with a better idea to render its 'competitive advantage' obsolete. That new currency enjoys the same set of problems - what's the point?
To me this represents a poor allocation of limited resources - DNotes could hire all kinds of tech / engineer / blockchain experts with the task to improve the instrument that is DNotes, but this spending of resources 1. has yet to do anything meaningful for really any other currency, 2. has a high chance of being superseded by the many competitors trying to achieve the same goals, and 3. competitor progress is for the most part open-source anyway. By comparison, Bitcoin being the most popular of the digital currencies probably doesn't have any superior technology behind it as a trading or monetary instrument than DNotes.
This is not to say that technological advances are not important - they are of incredibly high importance, but strategically it makes much more sense to compete when the money exists to do so when a team of 20 top computer scientists and engineers may be employed to actually set out to dominate, rather than just be another competitor. If DNotes plans to retain a model that allows an agile development method (without acquiescing any control to shareholders), it can not raise VC until they are forced to. Previous press releases have indicated this will be done sometime around February 2016. I would imagine that the size of those funding rounds would decide the size and scope of DNotes plan to compete technologically with all its peers. These statements are made judging from a memory of what I've read from the dev's in this forum. When you see companies raising 20 to 100m to find solutions to bank settlement issues, I think its fair to presume that any prevailing digital currency will require not just a
comparatively expensive system at a
minimum, but be able to sell its intrinsic advantages as a monetary system itself (the innate benefits of crypto versus fiat). These are typical of most digital currencies, but the marketing and education of people not in crypto-circles will probably best decide a winning development team in this endeavour.
Currently, it should be quite clear that DNotes has analysed the industry as a whole, and seen it lacking in exposure and understanding for everyday people and key stakeholders (business leaders, regulators etc). These people are currently eating the food bankers are feeding them about the benefits of 'blockchain' with no mention of currency - this is what we are to compete with (bankers saying clients can enjoy blockchain systems, but using the same fiat money). As one of very few crypto coins that actually started planning to become the pre-eminent digital currency, as opposed to just copying Bitcoin and hope for the best, we're hardly here wasting our time on a project full well knowing that the competition will include well funded banking groups that are going to claim that digital currency 'isn't regulated', 'isn't safe', 'is unstable', 'no guarantee', 'rife with crime' etc. These are commonly held beliefs that you'll hear instantly if you go talk to people outside the crypto community. DCEBrief was created to be the bridge between a technologically naive general public and business leaders, and us. DNotes projects have for the most part, worked to improve the reputation of the industry as a whole, and the launches of said web properties have been very successful. One large advantage of owning and operating DCEBrief for example, is exposure of DNotes as a currency to visitors of the website - many of whom will be completely unfamiliar with crypto, which gives DNotes an instant advantage over some crap-coin that can anonymously send, has crazy annoying NFC security, or has some other gimmicky feature. The cash in your wallet, or in your bank account just sends and clears and it is the only money people seem to think they need today. Why would everyday people who are used to such a currency care any more for 'anonymous sending' or shared mining or whatever? Like you could share bandwidth with maidsafe but who cares!? Do you think that's going to encourage Mrs Smith who is 60 years old and just wants to pay her bills to use it over DNotes, Bitcoin or even the fiat she currently uses? - definitely not! The only features available with the other crypto alternatives are absolutely worthless to anybody who exists in the 99.99% of human beings who exist outside of the crypto bubble. This additional code being released with rival currencies is aimed at capturing investment from a saturated market of existing crypto-lovers - i.e. it is the 'circlejerk' you have mentioned - and does nothing to grow the successful long-term chances of decentralised currencies. These features are interesting, and important to computer geeks, but the first and foremost concern are meeting the functions of money.
DNotes has also clearly stated it believes that a company is required to facilitate the success of a meaningful project to oversee the currency, or lead the currency and its web properties into the future. Developing a crypto currency to supplement fiat currencies of the day takes A LOT of money, and realistically only a company can raise the necessary capital to do so in my view. I would hardly expect some MIT professor and a few polite comp sci engineers donating their time to create a currency that would stand a chance of being accepted worldwide as a supplement to government backed ones - instead their currencies are traded on exchanges as a speculative instrument, which is another aspect of crypto that I expect has a finite lifespan that will subsequently see the death of all crypto coins that both don't serve the functions of money, leaving them only the potential to serve as novel 'content types' i.e. obsolete collectable / in house currency for a tiny community. Roadmaps are also worthless until you know the funding you are to have available... Nobody trusts anybody in the crypto community because nigh all who have released roadmaps have proved themselves to be incompetent or unable to stick to them, and a roadmap depletes the point in an 'agile' development cycle. With an agile development, you can change course according to industry need and regulatory changes. DNotes (I believe) changed from a focus on micropayments to the DNotesVault because there was nowhere online to safely store crypto (an industry first). I think a safe (insured by guarantee) place to store your crypto is much more important than updating code for the currency.
So while I agree with you mochilles that it is important, and in fact, inevitable that DNotes compete head on with the big money hitters making headway in the fintech scene - there exists nothing in the crypto-tech scene worth copying as yet, and the competition with the big boys should wait until proper funding is available to maximise the chances of success. Getting the DNotes developer to begin upgrading code of the currency would mean him taking time away from the other web properties, and even then with just one person competing against whole teams of others in the fintech sector, the chances are slimmer that this would be a productive use of his time - especially given the uncertain regulatory environment for which he would be coding for!
At this current juncture, knowing that digital currency is viewed as 'not safe', 'unstable' and 'not regulated' etc by the general public, creating a trusted DNotes brand is the most important thing to actually attract new crypto users, and primary to bring them to DNotes. You read a lot about how DNotes could ACTUALLY do xyz in the future because it is reinforcing an idea to people unfamiliar with crypto what its potential is. The more you know about its potential implications, the more you may be prepared to bet on the future if you logically follow the 'idealized' future. I'm sure when the internet was first made people said "people will use this to buy things and it will change how we interact with one another (facebook, twitter) and watch content and make payments..." - otherwise, without a clear vision, who would become an early adopter and take a risk in the hope of future windfalls? Everybody will just 'wait and see'. Currently the crypto-sphere is full of people wanting to make a quick buck, and they're mostly due a big disappointment unless they can correctly identify a winner for the medium term. There are others in the community that come to crypto from a belief that it is philosophically morally superior to government alternatives - and trust me, those people aren't here for a quick buck, tend to be stronger at critical analysis, and won't bother with anything but the group with the highest chance of success.
I have written two DCEBrief articles, with another more or less completed about how fiat monetary systems directly cause income and wealth inequality. Neither of my released articles were 'vague'. I'd happily discuss the ins and outs and defend the economics against anybody. When my next article is released, you'll see a clearly made argument referenced in substantial detail, in fact, I'll happily send you my draft in private message for comment. I like to bring new information and views that I don't see in the mainstream (if at all) - bridging the gap between 'idealised future' and crypto adoption by using evidence if you will.
So Mochilles, why do you think the technical aspects of a digital currency more important than industry needs that will draw in a user-base, when mainstream adoption of crypto isn't even remotely close?
Other than that, I look forward to seeing what the founders think, or are prepared to divulge. I do appreciate your opinion Mochilles, to me it highlights the logical detail in released material that I've thought is of paramount importance for articles. That said, crypto is built on ideas of the future, and ideas are very saleable.
