Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 139. (Read 814547 times)

Thank you TeeGee, it is amazing what we have been able to accomplish with no external funding and a small group of dedicated supporters. It was important to build all of this infrastructure, up to this point, in this manner. We could have burned through millions, and likely not had a very much stronger foundation for the global digital currency we are building. Now is the perfect time to get aggressive and expand more rapidly.

I like your ideas for the forum, it seems like we could develop it into a hybrid social forum and even incorporate digital currency directly into the system. Definitely a project to keep on the radar.

This weeks entries have all been paid and added to the list of entries. So far we have 123 entries for the contest. I encourage everyone to submit.

I've been quiet lately (and will continue to pop up where possible for the next 4 weeks), but Ken, you're writing some great stuff.

I think it also is important that DNotes (the user) get's some credit too for the phenomenal amount of effort that must go into developing and deciding the structure and formate for all the web properties.

I could say the same for many other team members, but I'm focussing on the DCEBrief page development for this post. Quite an exciting project.

I did have a thought when I saw CryptoJohn say hello before (hi by the way). It does not escape my notice that these forums are somewhat lacking in terms of features (unless I'm completely useless at using them).

For example, compare these forums to some of the features possible on Facebook.

CryptoJohn could say hello, and we respond to him, but he won't know that we've responded to him unless he is subscribed to e-mail alerts, and he won't know if that content is directed at him or not. On Facebook, you can tag somebody's name and they will know from the notification that a post has been made in reference to them. Embedding images and general text formatting is more complicated for forum users also - often requiring rudimentary knowledge of HTML etc.

BitcoinTalk appears to be where the conversation about crypto happens. DCEBrief serves a great function of educating stakeholders about crypto, but in future do others here think that we should try and bring the general crypto conversation to a more user friendly medium that enjoys all the general features people can get on Facebook, but categorised as a forum? I've always considered forums like this to be the "back end" of the crypto scene where things happen, and the news properties the suited up face of the industry. Is there a business case to sooner, rather than later, attempt to bring the crypto conversation to an improved medium?

Doing so would certainly have an appeal to less technologically savvy people who would never think of visiting a forum, but use Facebook every day. I also think it would help draw a much larger demographic of women to the scene. The forum should be for general money users and not tech experts. Maybe this is something cryptomoms could aim for.

Just my a thought I was having.

Blockchain weekly recap. Same format as the bitcoin one, more news, and condensed. Quite a bit going on this week. Please take a look and provide your feedback and comments.

Blockchain Weekly Recap 10-17-2015

http://dcebrief.com/blockchain-weekly-recap-10-17-2015/

We are always delighted to see our friends who have been with us from the very beginning. Personally, it is very rewarding and inspiring to read your comments, "Great coin, great concept, great mission, great community."

On days when bots and day traders continued to treat DNotes just like any other commodity (coin), driving it to the lowest price; then buy and instantly try to sell it for just a little more all day long; your remarks mean a lot to me. Thank you, CryptoJohn. Hope to see you and many others just like you more often.

DNotes is uniquely different than any other coin, including Bitcoin. DNotes is a trusted global digital currency built since day one, with a purpose, for everyone worldwide to participate. It is built as a trusted brand with lasting value. It is meant to be a long term investment. "Its true value is in the future" As a store of value, it is the digital currency that is the least volatile and has the most dependable long term appreciation in value.

DNotes is a very large scale global project that will take years before its full potential can be realized. It is far more than just another digital currency, among over 1,000 competing coins in our industry. DNotes is part of a growing family, consisting of many highly scalable building blocks or components. Together they are all strategically linked to form a complete system. While others may be building a distinct component, we are building a complete system, a well oiled machine.

DNotes is the trusted global digital currency with its own ecosystem. It will soon be a part of a for profit global enterprise that will enable the currency and its ecosystem to be self-sufficient and self-sustaining, while being a purposeful currency for the better good of mankind. DNotes is uniquely different. To learn more, be a frequent follower of DCEBrief that brings you current issues that matter to our industry in Executive Summary format, designed to be informative, objective, and unbiased, without fluff or fillers.

As a global digital currency, its ultimate mission is to be the future of money to supplement, not replace, all national or fiat currencies. This will ensure that the citizens of the world will have a choice to hedge against the financial pain and suffering of a "sudden stop" in all economic activities, as in the case of Greece recently. We are not a proponent of gloom and doom. As a thought leader, I am very committed, with our dedicated team, to proactively position DNotes as the preferred global digital currency. DNotes is a viable option to be the global solution and the positive mitigating force to prevent the risk of a total lose of one's life savings in the event of another "sudden stop" the may result from the never ending turmoil of our dynamic world.

EU Court to Decide Bitcoin's VAT-Status Next Week

In what could be a landmark case for Bitcoin in the EU, the European Court of Justice (ECJ) has announced that it will make its decision on the VAT-status of virtual currency exchanges next Thursday. The verdict, which is the climax of an originally Swedish court dispute, could have far-reaching implications for bitcoin users and companies in all 28 EU-member states.

In essence, the ECJ will decide whether bitcoin exchanges should be subject to VAT (Value Added Tax). Specifically, as requested by the Swedish high court, the ECJ will answer two questions:
“Is Article 2(1) of the VAT Directive to be interpreted as meaning that transactions in the form of what has been designated as the exchange of virtual currency for traditional currency and vice versa, which is effected for consideration added by the supplier when the exchange rates are determined, constitute the supply of a service effected for consideration?”

And:
“If the answer to the first question is in the affirmative, is Article135(1) to be interpreted as meaning that the above mentioned exchange transactions are tax exempt?”

Speaking to Bitcoin Magazine , Dutch fiscalist for law firm Baker & McKenzie and VAT-expert Roger van de Berg explained what the implications of the court ruling will be.

Van de Berg:
“Strictly speaking, the case is about bitcoin exchange services. It's not about bitcoin itself, it's not about bitcoin mining, it's not about paying with bitcoin, or anything else. The court will decide whether exchange services fall within the scope of VAT-based law – that's the first question. If the ECJ decides that bitcoin exchange services do in fact fall within this scope, the second question will answer whether a VAT exemption should apply.”

If the ECJ rules that a bitcoin exchange does fall within scope of VAT-based law, and also decides that a VAT exemption will not apply, it could mean two things. The most likely outcome is that bitcoin exchanges will be required to pay VAT over the spread; the difference in price of buying and selling bitcoin from which they profit. But another – less likely – outcome could be that the value of the sale itself is subject to VAT. Since VAT in different EU member states is anywhere between 15 and 27 percent – depending on the country – this would effectively mean that it would cost an additional 15 to 27 percent to purchase bitcoin.

But while the questions that are to be answered by the ECJ strictly speaking apply only to bitcoin exchangers, it is possible that the answers could have even more far-reaching implications as well.

“In order to answer the question regarding exchange services, the ECJ might reason that it first needs to assess what such an exchange is actually doing and how the underlying assets should be qualified,” Van de Berg explained. “As such, it might also investigate the VAT treatment of virtual currencies and thus decide whether or not bitcoin itself is subject to VAT. If that happens, we have a clear answer from the ECJ of where bitcoin stands for VAT purposes within the EU. This would then apply to all bitcoin-related activities, including mining, spending and more.”

Currently, different EU member states uphold their own VAT-laws regarding virtual currencies. Some charge VAT, others do not, and yet others have not taken in any official position so far. With the ruling next week, however, all national virtual currency-related VAT laws will be overruled by the ECJ, in effect creating a uniform fiscal policy for all of the EU. This decision will be binding to all EU member states, and can only be overturned if overruling law is made by the European Commission in Brussels.

https://bitcoinmagazine.com/articles/eu-court-to-decide-bitcoin-s-vat-status-next-week-1445013279

The most likely outcome is that bitcoin exchanges will be required to pay VAT over the spread; the difference in price of buying and selling bitcoin from which they profit. This is fairly interesting, for an exchange like coinbase it would affect the price they have to charge for bitcoin to EU customers and if they are taking into account for a direct user to user exchange like poloniex that charges a static trade fee across the board. 

“As such, it might also investigate the VAT treatment of virtual currencies and thus decide whether or not bitcoin itself is subject to VAT. If that happens, we have a clear answer from the ECJ of where bitcoin stands for VAT purposes within the EU. This would then apply to all bitcoin-related activities, including mining, spending and more.” I don't see how it could apply to mining with the heavy up front investment for long term gains.

Good to see you again CryptoJohn, I know you have been a supporter since the we started, thank you! As Chase mentioned, we love to see our supporters stop by the forum often, share their ideas and comments on our projects.

Also, if you have time, check out our contest.
https://twitter.com/DCEBrief/status/653990115010850818

Hi CryptoJohn,

It's nice to see that you are taking care of your retirement.

Drop by more often - you are always welcome!

Loved DNotes from the beginning. Received my first mining payout 3/11/14 3b84108dd178638ae415d911125601c56dbe567f374ef28bc15cd0e4af2e98a7

Just opened a retirement account @ https://dnotesvault.com/ 


Great coin, great concept, great mission, great community

Like the condensed version with more news better personally.

All, we changed the format slightly to the weekly recap and would love to hear your thoughts. Slightly shorter stories, while trying to maintain industry perspective, and more inclusive.

Bitcoin Weekly Recap 10-16-2015

http://dcebrief.com/bitcoin-weekly-recap-10-16-2015/

Quote from: indiamikezulu on Today at 06:25:44 AM

Hey, Shepherd. Yes, I wish I could be more positive; but my life gig is political theory (which segued into cryptos after retirement). I don't have the luxury of baseless optimism. It makes you a lousy theorist.

Hmmm . . . I read most everything Rubino writes.


Why do I yammer on about economic concerns?

Because the future of cryptos (and Dnotes will thrive in either model) is gonna be Future One or Future Two.

Future One will be as a method of payment, etc., in a world still recognizably this world.

Future Two will be as a major store-of-value instrument in a post-government-fiat-centric super depression.

The data below is just from the last week or so – that is, the data is once again pouring in:

“ . . . a new wave in the Global Financial Crisis . . . “
http://www.hitc.com/en-gb/2015/10/13/goldman-this-is-the-third-wave-of-the-financial-crisis

“The risk of a global financial crash has increased . . . “
http://www.theguardian.com/business/2015/oct/07/risk-global-financial-crash-increased-imf-emerging-economies-eurozone-stability-report

“China’s economy . . .  flagging and recent stock market turmoil had exposed the fragility of many emerging market economies.”
   http://www.theguardian.com/business/2015/sep/16/global-economy-faces-low-growth-in-next-year-says-oecd

Burberry – 8% down yesterday
China – ‘largest drop in exports since 2009’
Glencore (commodities traders) – ‘on the hook for hundreds of billions in shadow debt’

[‘Trafigura’? ‘Vitol’? ‘The Noble Group’? Watch for these names.]

At present, campers, the data is coming thick and fast: IMF, OECD, VW, Deutsche Bank/Germany’s economy

Syria/the refugee crisis

Currency crises in the ‘EM’ nations

Quote From Shepherd Today:

Mark, you have  been doing just fine. Sometimes it is helpful to look at things from a different prospective. There are serious concerns brewing in the emerging markets, with the price of commodities dropping so drastically over a short period of time. This could be a long period of slowing down.

DNotes is a very large scale global project best suited for those interested to invest over the long term. Fortunately we have many stakeholders who share our view and keep most of their stash at the DNotesVault. We envision that, because of the size and scope of what DNotes is involved in, DNotes is a great store of value. We also expect DNotes to play an important role as a supplement to national currency around the world.

If you have not done so, be sure to read our most recent article "Why Bitcoin and Digital Currency DNotes Could be EURO's Best Friends."

Thanks, for the post, Ken. I have some knowledge of the Uniform Law Commission's effort. I am hopeful that they have the best chances of a favorable outcome. It may not be what we all want but,  "it’s a choice between the sensible regulation in AB 1326—even if it could be improved—and the ill-fitting regulation of the Money Transmission Act.”

I am a strong proponent of consumers' protection and firmly committed to building DNotes with trust and integrity, as my highest priority. What I have been against most is the requirement of duplicate state licensing requirements. As it stands today, 48 out of the 50 states require separate application and individual state license to be in compliance with regulations under the Money Transmission Act. This is extremely burdensome and cost prohibitive, especially for smaller operators. Furthermore, there is little to no legal guidance on many issues as they pertain to digital currency.

http://dcebrief.com/why-bitcoin-and-digital-currency-dnotes-could-be-the-euros-best-friends/

Thanks for posting that Ken! It will be interesting to watch how this unfolds. Below is part of an article from brave new coin on the subject:



AB1326 was met with mixed reviews. The Electronic Frontier Foundation had “philosophical issues with” with the bill. “Both the type of regulatory scheme it’s proposing as well as the timing of this regulation in relation to the development of new virtual currency technologies—and we also have concerns about how the bill is technically written.”

However, Jerry Brito Executive Director of Coin Center, was in full support of an improved version: “Bottom line: it’s not a choice between this bill and no regulation; it’s a choice between the sensible regulation in AB 1326—even if it could be improved—and the ill-fitting regulation of the Money Transmission Act.”

“If this bill fails, we may end up with the aggressive and industry-stunting regulation that we’re all seeking to avoid. And if this bill fails, we’d also lose the best bill we’ve seen that could be a model for other states and a counterweight to the BitLicense.”

- Jerry Brito, Coin Center Executive Director

 

The California bill was eventually shelved, and now the Uniform Law Commission (ULC) are taking the initiative. The ULC is designed to bring clarity and stability to areas of state and statutory law.

The ULC is currently headquartered in Chicago and has produced more than 300 uniform acts, which focus on critical topics, including commercial law, family and domestic relations law, and estates. The commission consists of approximately 350 commissioners.

The signature product of the commission was the Uniform Commercial Code, which took ten years to complete. Enacted in the ‘40s, the code is a comprehensive set of laws governing commercial transactions between U.S. states and territories. These transactions include borrowing money, leases, contracts, and the sale of goods, which lead to a partnership with the American Law Institute. 14 years later, it had been enacted in every state of America.

Now firmly focused on 21st century regulation, the ULC is working on virtual currencies, defined “as a form of electronic value, the value of which depends on the market. It is not backed by government (so that it lacks status as legal tender).” The commission's interest in digital currency stems from its ability to be “safer from hacking, often cheaper and faster, and has finality of payment.”

“Virtual currencies have legitimate purposes and can be purchased, sold, and exchanged with other types of virtual currencies or real currencies.”

- Uniform Law Commission

 

As some states have shown interest in the regulation of digital currencies, the ULC advises that others are sure to follow suit. The ULC will be looking into how to take these proposed legal frameworks one step further. “In the absence of an overarching federal payments regulatory framework, these state laws need to be harmonized to the extent possible.”

http://bravenewcoin.com/news/uniform-law-commission-seeks-unified-regulation-for-virtual-currencies-in-america/

Hi all,

Thought some of you might be interested in some of the ongoing news related to regulation of the crypto environment. The Uniform Law Commission met on the 9th to discuss their draft proposal for uniform regulation throughout the U.S. You can download that draft and other related info at their website:

http://www.uniformlawcommission.com/Committee.aspx?title=Regulation%20of%20Virtual%20Currencies