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Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 146. (Read 814541 times)

legendary
Activity: 1932
Merit: 1111
DNotes
Excellent! Hard to believe DCEBrief is just over a month old and doing fantastic.

Same here Marc, it has only been a month and it is already taking off. We have been very fortunate to have found so many talented people and help from our community.

This press release, and next one to come, are the big ones and should provide some insight into where we are heading.
hero member
Activity: 508
Merit: 501
Excellent! Hard to believe DCEBrief is just over a month old and doing fantastic.
hero member
Activity: 846
Merit: 535
legendary
Activity: 1610
Merit: 1060
Bitcoin gets very bad media all over the world. the image of this coin is going down the mountain and connected more and more with negative news. further, even if part of these news items are not correct, there isn't any focusing and strong team behind this coin to prevent it's falling down the mountain. one of the evidence for this amazing deteriorating is the rate of Bitcoin which decreased 80% on the last 2 years (1150 USD to 230 USD). the problem is that all other coins are connected to the Bitcoin as it's satellites. yet there aren't any independent strong coins which can carving a new road for the Digital Currencies path and maintain this amazing innovative tech and field. so in this moment, if the Bitcoin is fade out, it could jeopardize all other coins. hope DNOTES steps can make it an independent coin with the very needed image and shape of reliability and honesty.


This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there?  



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004

Mati, I am afraid that you are quite correct, although I believe that Bitcoin is not going away anytime soon. I still feel very strongly that what is good for Bitcoin is good for our industry.

Unfortunately, Bitcoin lacks an individual or a group of individuals with sufficient invested interested to protect and promote Bitcoin. There is no leadership to help unite or lead our industry, making us a easy target for the disrupted parties to push back. We correctly pinpointed Bitcoin's weaknesses and industry threats before launching DNotes in February, 2014 allowing DNotes to be built from ground up with a new improved model. I am very confident that we will gain the leadership position one day. Our press release today will be very telling. Read it very carefully. What we need is a worldwide grass root movement to build a trusted global digital currency for everyone. Irrespective of how we feel about national fiat currencies, it is healthy for the people of the world to have a choice; an alternative not to have to put all their nest eggs in one basket.
member
Activity: 72
Merit: 10
Bitcoin gets very bad media all over the world. the image of this coin is going down the mountain and connected more and more with negative news. further, even if part of these news items are not correct, there isn't any focusing and strong team behind this coin to prevent it's falling down the mountain. one of the evidence for this amazing deteriorating is the rate of Bitcoin which decreased 80% on the last 2 years (1150 USD to 230 USD). the problem is that all other coins are connected to the Bitcoin as it's satellites. yet there aren't any independent strong coins which can carving a new road for the Digital Currencies path and maintain this amazing innovative tech and field. so in this moment, if the Bitcoin is fade out, it could jeopardize all other coins. hope DNOTES steps can make it an independent coin with the very needed image and shape of reliability and honesty.


This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there? 



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004
sr. member
Activity: 452
Merit: 250
Borrowed this from the AsiaCoin thread, worth reading these articles.

Bitcoin patents discussion links

affecting Litecoin/Peercoin/Asiacoin


http://motherboard.vice.com/read/are-the-bitcoin-patent-wars-about-to-begin

https://www.eff.org/mention/are-bitcoin-patent-wars-about-begin

http://siliconangle.com/blog/2015/09/23/pure-evil-coinbase-moves-to-claim-ownership-of-the-bitcoin-market-with-various-patent-filings/

http://bravenewcoin.com/news/coinbase-to-patent-hot-wallet-for-holding-bitcoin-user-private-key-control-and-tip-button/

http://www.livebitcoinnews.com/will-coinbases-patent-applications-affect-bitcoin-ecosystem/

http://qz.com/507524/bank-of-america-just-filed-a-patent-that-would-let-you-send-money-using-bitcoin/

http://www.coindesk.com/bank-of-america-cryptocurrency-wire-transfer-patent/

http://cointelegraph.com/news/115316/bank-of-americas-and-coinbases-bitcoin-patents-revealed

https://www.reddit.com/r/Bitcoin/comments/3mc5ys/coinbase_on_bitcoin_patents_dont_hate_the_player/

https://medium.com/@barmstrong/how-we-think-about-patents-at-coinbase-26d82b68e7db

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20150262173.PGNR.&OS=DN/20150262173&RS=DN/20150262173?p=cite_Brian_Cohen_or_CoinTelegraph_(Esquivalence)

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=0&f=S&l=50&TERM1=Coinbase&FIELD1=AS&co1=OR&TERM2=Cite+Brian+Cohen+or+CoinTelegraph+%28Esquivalience%29&FIELD2=DRTX%2CDETD&d=PG01

PUB. APP. NO.   Title
1   20150262176   HOT WALLET FOR HOLDING BITCOIN
2   20150262172   USER PRIVATE KEY CONTROL
3   20150262171   BITCOIN PRIVATE KEY SPLITTING FOR COLD STORAGE
4   20150262168   INSTANT EXCHANGE
5   20150262141   PERSONAL VAULT
6   20150262140   SEND BITCOIN TO EMAIL ADDRESS
7   20150262139   BITCOIN EXCHANGE
8   20150262138   TIP BUTTON
9   20150262137   OFF-BLOCK CHAIN TRANSACTIONS IN COMBINATION WITH ON-BLOCK CHAIN TRANSACTIONS

What do you think? Are any of these worthy of patents or, are they all public domain?


Most of them sound more like public domain. That won't stop them from suing people, it will still cost a lot of money to to defend. However, after reading through a couple, there is no reason why someone can't improve on these patents and create an entirely new patent for themselves.
RJF
hero member
Activity: 616
Merit: 500
Online since '89...
Borrowed this from the AsiaCoin thread, worth reading these articles.

Bitcoin patents discussion links

affecting Litecoin/Peercoin/Asiacoin


http://motherboard.vice.com/read/are-the-bitcoin-patent-wars-about-to-begin

https://www.eff.org/mention/are-bitcoin-patent-wars-about-begin

http://siliconangle.com/blog/2015/09/23/pure-evil-coinbase-moves-to-claim-ownership-of-the-bitcoin-market-with-various-patent-filings/

http://bravenewcoin.com/news/coinbase-to-patent-hot-wallet-for-holding-bitcoin-user-private-key-control-and-tip-button/

http://www.livebitcoinnews.com/will-coinbases-patent-applications-affect-bitcoin-ecosystem/

http://qz.com/507524/bank-of-america-just-filed-a-patent-that-would-let-you-send-money-using-bitcoin/

http://www.coindesk.com/bank-of-america-cryptocurrency-wire-transfer-patent/

http://cointelegraph.com/news/115316/bank-of-americas-and-coinbases-bitcoin-patents-revealed

https://www.reddit.com/r/Bitcoin/comments/3mc5ys/coinbase_on_bitcoin_patents_dont_hate_the_player/

https://medium.com/@barmstrong/how-we-think-about-patents-at-coinbase-26d82b68e7db

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20150262173.PGNR.&OS=DN/20150262173&RS=DN/20150262173?p=cite_Brian_Cohen_or_CoinTelegraph_(Esquivalence)

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=0&f=S&l=50&TERM1=Coinbase&FIELD1=AS&co1=OR&TERM2=Cite+Brian+Cohen+or+CoinTelegraph+%28Esquivalience%29&FIELD2=DRTX%2CDETD&d=PG01

PUB. APP. NO.   Title
1   20150262176   HOT WALLET FOR HOLDING BITCOIN
2   20150262172   USER PRIVATE KEY CONTROL
3   20150262171   BITCOIN PRIVATE KEY SPLITTING FOR COLD STORAGE
4   20150262168   INSTANT EXCHANGE
5   20150262141   PERSONAL VAULT
6   20150262140   SEND BITCOIN TO EMAIL ADDRESS
7   20150262139   BITCOIN EXCHANGE
8   20150262138   TIP BUTTON
9   20150262137   OFF-BLOCK CHAIN TRANSACTIONS IN COMBINATION WITH ON-BLOCK CHAIN TRANSACTIONS

What do you think? Are any of these worthy of patents or, are they all public domain?
legendary
Activity: 1638
Merit: 1005
This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there?  



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004

I read this article yesterday and decided to walk away from it, for fear that my instinctive comments would not come across that nice to Mr. Bankers. With a cooler head, it reminded me of a memorable experience I had with a banker at the start-up stage of Dauphin Technology in 1989. Like most start-ups we struggled to raised working capital and I spent a significant amount of time working with a number of local banks. They all were excited to work with me because of my experience as a proven entrepreneur, my vision, and winning strategies for the company. Unfortunately, they all came back with more ore less the same answer after their loan committee reviewed of our loan application. "Mr. Yong, you have a very interesting situation here, and we like to stay in close touch with you. Unfortunately, we decided to take a pass at this time, because you are still at an early stage." They all knew at the first meeting that the company was only about one year old.

I got it and decided not to waste any more time with any Bank. Weeks went by, and a "different" Bank V. P. insisted in meeting with meet me, with the assurance that his bank was different. He was certain that his loan committee would be favorable. I made my position very clear that I did not want to waste any more time on it. He was persistent enough to convince to give it one more try, and I did. You guessed it. He came back with exactly the same answer. And I looked at him straight in the eyes and said, "You all bankers are so much alike, you should all be wearing the same uniform." I still remember every word of it after 26 years.

So the Australian banks must have been feeling the competitive threats from Bitcoin ("It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people"). and decided to push back. Australia will not be the last country to do that. This makes it even more critical that our industry work closely together for the mutual benefits of everyone. Personally, I believe that banks have a lot more to gain by working with us, not against us. How else do they get to service the 2.5 billion unbanked or underserved by banks and financial institutions?

Stay tuned, we will have a very interesting press release tomorrow, revealing more on our road map than we have ever done.

Agreed. I don't claim to understand the reason why the Australian banks are blocking the crypto exchanges, but I'm sure the Australian will demand to be able to use it.

Awaiting patiently for the press release.


National Australia Bank is one of the banks listed here that have closed the accounts of bitcoin exchanges operating in Australia.  That very same National Australia Bank is one of the 22 big banks teaming up to use the blockchain (that bitcoin so generously shared with everyone) for their own benefit, which is fine if they wouldn't have played dirty with the competition.  I like to win, but I want to win because I am the best, not because I maliciously broke the leg of my opponent!  I obviously wouldn't last very long in the banking industry.  Sad
member
Activity: 72
Merit: 10
This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there?  



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004

I read this article yesterday and decided to walk away from it, for fear that my instinctive comments would not come across that nice to Mr. Bankers. With a cooler head, it reminded me of a memorable experience I had with a banker at the start-up stage of Dauphin Technology in 1989. Like most start-ups we struggled to raised working capital and I spent a significant amount of time working with a number of local banks. They all were excited to work with me because of my experience as a proven entrepreneur, my vision, and winning strategies for the company. Unfortunately, they all came back with more ore less the same answer after their loan committee reviewed of our loan application. "Mr. Yong, you have a very interesting situation here, and we like to stay in close touch with you. Unfortunately, we decided to take a pass at this time, because you are still at an early stage." They all knew at the first meeting that the company was only about one year old.

I got it and decided not to waste any more time with any Bank. Weeks went by, and a "different" Bank V. P. insisted in meeting with meet me, with the assurance that his bank was different. He was certain that his loan committee would be favorable. I made my position very clear that I did not want to waste any more time on it. He was persistent enough to convince to give it one more try, and I did. You guessed it. He came back with exactly the same answer. And I looked at him straight in the eyes and said, "You all bankers are so much alike, you should all be wearing the same uniform." I still remember every word of it after 26 years.

So the Australian banks must have been feeling the competitive threats from Bitcoin ("It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people"). and decided to push back. Australia will not be the last country to do that. This makes it even more critical that our industry work closely together for the mutual benefits of everyone. Personally, I believe that banks have a lot more to gain by working with us, not against us. How else do they get to service the 2.5 billion unbanked or underserved by banks and financial institutions?

Stay tuned, we will have a very interesting press release tomorrow, revealing more on our road map than we have ever done.

Agreed. I don't claim to understand the reason why the Australian banks are blocking the crypto exchanges, but I'm sure the Australian will demand to be able to use it.

Awaiting patiently for the press release.
legendary
Activity: 1610
Merit: 1060
This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there?  



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004

I read this article yesterday and decided to walk away from it, for fear that my instinctive comments would not come across that nice to Mr. Bankers. With a cooler head, it reminded me of a memorable experience I had with a banker at the start-up stage of Dauphin Technology in 1989. Like most start-ups we struggled to raised working capital and I spent a significant amount of time working with a number of local banks. They all were excited to work with me because of my experience as a proven entrepreneur, my vision, and winning strategies for the company. Unfortunately, they all came back with more ore less the same answer after their loan committee reviewed of our loan application. "Mr. Yong, you have a very interesting situation here, and we like to stay in close touch with you. Unfortunately, we decided to take a pass at this time, because you are still at an early stage." They all knew at the first meeting that the company was only about one year old.

I got it and decided not to waste any more time with any Bank. Weeks went by, and a "different" Bank V. P. insisted in meeting with meet me, with the assurance that his bank was different. He was certain that his loan committee would be favorable. I made my position very clear that I did not want to waste any more time on it. He was persistent enough to convince to give it one more try, and I did. You guessed it. He came back with exactly the same answer. And I looked at him straight in the eyes and said, "You all bankers are so much alike, you should all be wearing the same uniform." I still remember every word of it after 26 years.

So the Australian banks must have been feeling the competitive threats from Bitcoin ("It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people"). and decided to push back. Australia will not be the last country to do that. This makes it even more critical that our industry work closely together for the mutual benefits of everyone. Personally, I believe that banks have a lot more to gain by working with us, not against us. How else do they get to service the 2.5 billion unbanked or underserved by banks and financial institutions?

Stay tuned, we will have a very interesting press release tomorrow, revealing more on our road map than we have ever done.
legendary
Activity: 1932
Merit: 1111
DNotes
This was in my inbox today and thought how silly. Of course bitcoin is struggling in Australia when the banks don't allow exchanges to do business. What business can accept it when they can't freely convert it back and forth to fiat at this stage? All this is doing is slowing down progress.

Maybe one of our Australian supporters can chime in, is it even possible to do business in digital currency there? 



Bitcoin flounders in Australia as regulatory worries bite

* Australian banks closed accounts of 13 bitcoin exchanges

* Businesses wary of currency's potential crime links

* Australia estimated to hold 7 percent of bitcoin's global value

By Byron Kaye and Swati Pandey

SYDNEY, Oct 4 (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.

Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges.

The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people.

"We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office.

Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment.

Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system.

The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value.

"It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee.

http://www.reuters.com/article/2015/10/04/australia-bitcoin-idUSL4N11V2B420151004
legendary
Activity: 1932
Merit: 1111
DNotes
hero member
Activity: 846
Merit: 535
sr. member
Activity: 452
Merit: 250
legendary
Activity: 1610
Merit: 1060
Thanks, Chase. Although, I won’t give the author very high marks, there are some very good points worthy of my comments.

Quite often there is a “pioneer penalty” as apparent in the case of Bitcoin. As much as Bitcoin is still enjoying the “first mover advantage” with substantially higher market cap than all the other coins combined, Bitcoin is saddled with “pioneer penalty” that it may never be able to sufficiently overcome and gain mass acceptance.

Our upcoming press release scheduled for publication on Monday will be quite telling as we reveal part of our road map for 2016 and beyond. Being positioned to be the trusted global digital currency for everyone worldwide to participate, we believe that DNotes has a great chance to take the leadership position one day.

Innovation leaders burst onto the scene, win early market leadership, but sometimes can't sustain the pace. Why do "fast followers" often jump in later and make fortunes?”

Innovation leaders are often consumed by the excitement of their innovative ideas and failed to recognize that being outstanding in just a few areas while being weak in others areas is a failing strategy and not sustainable.


The basic premise of the book is that management optimizes around protecting their existing business and fails to recognize and react to disruptive threats.”

This is true even with established business. Sometime, reacting to disruptive threats may not be sufficient. Understanding, the threats objectively, with winning strategies to deplore multiple action plans may be the best course of action. Major banks today are responding to the disruptive threads from Bitcoin and other digital currencies like DNotes. Perhaps the optimal strategy here, may be, to collaborate with an innovative small player like DNotes and benefit from their strengths in multiple areas, including being nimble, agile, and innovative.

 “it takes a different set of skills to start a company than it does to sustain a company

This is very true, even in the case of DNotes. We will bring in professionals at the appropriate time.

Lessons for entrepreneurs;
•   Never stop innovating
•   Build a well rounded management team early
•   Value sales and marketing talent as much as technical talent
•   React quickly to disruptive technologies or business models
•   Don't be too proud to imitate when it makes sense”


They are all good points with too many more to list, such as being the best in class, and be great across to board as opposed to being exceptional in one area but poor in others. I am still trying to find time to finish my book which will cover this subject in details.

•   Apple Newton ->Dauphin DTR -> Palm Pilot -> Blackberry



The author certainly did not have a very complete list. There are many more than what he listed. Dauphin DTR was the leader of the pack and dominated the news in the personal computer industry. http://articles.chicagotribune.com/1993-05-20/business/9305200013_1_pen-based-dauphin-technology-risc-system

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Quote From Chase – Oct. 2, 2015:

This story is the same age as bitcoin, so it's getting on in years, but I really enjoyed it and can see a lot of similarities here in cryptocurrency. 



Why fast followers beat first movers

Better business model, better marketing, better timing, better management

Innovation drives our industry, attracts the best talent,  attracts VC money, and wins fame for its leaders. Innovation leaders burst onto the scene, win early market leadership, but sometimes can't sustain the pace. Why do "fast followers" often jump in later and make fortunes? Is management responsible for the success or failure? Or, are these innovation leaders acquired by larger players before they have a chance to evolve into successful stand alone companies?

I have been on the leading edge, sometimes bleeding edge, of technology for most of my career. I have been fortunate to be part of start-up teams that have created "first-of-its-kind" innovations at companies like Forte Software, AltaVista, Napster, Bowstreet, and Groove Networks. All of these companies were first in their field, yet few of them realized the financial rewards one would expect. Is it all timing and luck? I don't think so.

Before exploring the reasons for success or failure lets review a list of innovation leaders and fast followers.

There is a rare breed of technical visionaries who are also great business leaders. Bill Gates, Gordon Moore, Larry Ellison, and Scott McNealy are examples. They are truly extraordinary and rare


•   AltaVista -> Google
•   Napster -> iTunes
•   VisiCalc -> Lotus 123 -> Excel
•   Word Perfect -> Word
•   Netscape -> Internet Explorer
•   Apple Newton -> Palm Pilot -> Blackberry
•   IBM PC -> Compaq -> Dell
•   Double Click -> Google Ad Sense
•   Ofoto -> Flickr
•   Compuserve -> AOL -> @Home -> Comcast & Verizon
•   Nintendo –> Xbox
•   Friendster –> Facebook
•   Blackberry –> iPhone

All of these companies were innovation leaders and market leaders. Yet, they were eclipsed by fast followers, in some cases multiple times, who imitated their innovation. My belief is that the technology was outstanding. The management was not.

Clayton Christensen wrote The Innovators Dilemma which I reviewed in an earlier post. The basic premise of the book is that management optimizes around protecting their existing business and fails to recognize and react to disruptive threats. However, the examples in Christensen's book play out over 10 or 20 years. The above examples played out in 5 or less years. Are the same factors at work here? Lets take a look.

AltaVista was the first search engine and the clear technology leader. The management at DEC didn't understand what they had and didn't invest the necessary resources to make it a business success. Later Compaq and CMGI squandered the search opportunity and tried to imitate Yahoo, Excite, Lycos, and AOL in the consumer portal game. Big mistake. Fault management.

Napster was the first P2P file sharing application to bring together search, FTP, and Instant Messaging. Brilliant technical synergy. There are lots of reasons for failure here, mostly management decisions and unfortunate timing.

VisiCalc was the first spreadsheet, invented by Dan Bricklin and Bob Frankston. I know Dan fairly well but have never asked him why he thinks VisiCalc fell behind and Excel moved ahead. This topic deserves its own post. My memory is that VisiCalc was slow to adopt the DOS platform. Lotus 123 moved ahead on DOS and achieved market leadership, but failed to jump onto the Windows platform fast enough. Excel did make the move and the rest is history.

IBM created the PC revolution and was the early leader. Compaq was a fast follower focusing on "transportable" PCs and won huge market share. Dell came in later and trounced them all with a better business model.

Compuserve was the first dial-up service provider. Together with Prodigy they dominated the market. Later AOL entered the game with superior marketing and original content. AOL absolutely dominated in the 80's and early 90's. Then @Home created the cable Internet market and took the early lead. It wasn't long before Verizon, Comcast, and other cable providers owned the broadband market. AOL never really made the transition from dial-up to broadband.

In nearly every case the early innovators were eclipsed by fast followers. Why did the fast followers take over market share leadership?

•   Better business model (Google, Ad Sense, Dell)
•   Better market position (Word, Excel, Comcast, Verizon)
•   Better timing (iTunes, Flickr)
•   Better platform choices (Blackberry, Word, Excel)
•   Better management (all the fast followers)

It is overly simplistic to pin the success or failure of these innovators on one factor. There were a combination of factors at work. But in most cases the problem was not inferior technology, it was inferior management decisions.

So, were these early innovators led by technical visionaries who were not good managers? Will the imitators  and "fast followers" suffer the same fate and be overtaken by new fast followers?

The list of "fast followers" above are more than just imitators. They have continued to innovate far beyond the original idea or feature set and have maintained market leadership. If you look closely at these companies they have a  mix of technical visionaries and business management leaders. I discussed this with Robert Scoble who pointed out that it takes a different set of skills to start a company than it does to sustain a company. This balance of skills, I think, is the key to sustained market leadership.

Cisco is an example of an early innovator that kept their market leadership position over time. Their technical founders brought in professional managers to take them to the next level.

There is a rare breed of technical visionaries who are also great business leaders. Bill Gates, Gordon Moore, Larry Ellison, and Scott McNealy are examples. They are truly extraordinary and rare. However, I suspect that each of them has a strong business management team behind them. Bill Gates has Steve Ballmer. Larry Ellison had Ray Lane. The early innovators who failed did not have the business leadership necessary to sustain them.

Lessons for entrepreneurs;
•   Never stop innovating
•   Build a well rounded management team early
•   Value sales and marketing talent as much as technical talent
•   React quickly to disruptive technologies or business models
•   Don't be too proud to imitate when it makes sense
Source:
 http://vator.tv/news/2009-06-29-why-fast-followers-beat-first-movers#V53zpWR7c8EHzQFt.99
legendary
Activity: 1610
Merit: 1060
Good morning all, made a few minor changes on DCEBrief, to give our featured articles a bit more of the prime real estate.

Also started a linkedin company, for those who frequent linkedin please follow / share / like / comment our content as it comes out. Today I will add be added our previous featured content and adding new content as it becomes available.
https://www.linkedin.com/company/dcebrief

Planning to launch our social media campaign soon, within the next few days, and it will include linkedin as one of the social media sources.




Excellent work, Joe. What we need now is to have more DNotes believers to expand their support by doing even more to help take DNotes to the next level. With your help, we have accomplished a lot and we appreciate your participation very much.

We are actively positioning DNotes for phase two of our strategic plan to commence in 2016. Watch for our next press release scheduled for Monday next week. We are disclosing our road map more than we have ever done.

legendary
Activity: 1932
Merit: 1111
DNotes
Good morning all, made a few minor changes on DCEBrief, to give our featured articles a bit more of the prime real estate.

Also started a linkedin company, for those who frequent linkedin please follow / share / like / comment our content as it comes out. Today I will add be added our previous featured content and adding new content as it becomes available.
https://www.linkedin.com/company/dcebrief

Planning to launch our social media campaign soon, within the next few days, and it will include linkedin as one of the social media sources.


newbie
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http://s22.postimg.org/r98yqzv69/image.jpg
image upload with preview

This should be made into a poster. Or maybe a rack card.....

By the way Kris, this is pretty good at explaining the mining process. However, it may not be good for general public use, as most people aren't interested in mining. Were you thinking of using it to show people how transactions are secured and added to the public ledger?


Would be nice if it included how transactions are added a bit better.

Bob sign's a transaction with his private key, then it can be confirmed that is came from Bob via the public key, and so on.

It was at first hard for me to comprehend how crypto worked. For me to understand something, I need to know the how's and the why's. I thought this image I came across helped explain a small part of the how.

 I have thought about the effectiveness of print to help bring awareness to digital currency. I'm not sure how it would be received. I agree with you that this particular picture probably wouldn't be a good candidate for a marketing tool, but maybe in the future in every 6th grade classroom, somemething like this will replace the poster of the kitten dangling on a branch saying "hang in there".
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