Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 147. (Read 814547 times)

Excellent find Chase! DNotes has an advantage, with a dedicated team with a clear plan to drive it forward. We have been working on the upcoming press release which will help clarify your point to the rest of the world. Thank you for sharing that.

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.

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.


Read more at http://vator.tv/news/2009-06-29-why-fast-followers-beat-first-movers#HSBQLqbf4YLmKv1k.99

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.

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?

"there is always a trail to follow unlike physical money" - very good point

This sounds like a great story for DCEBrief. That point is exactly correct, digital currency is not ideal, as many may think, for money laundering and elicit activities. The media has made it out to be a dark secret place for criminals, but the fact remains, it is likely the best way to get caught as there is always a trail to follow unlike physical money.

Thank you, Dyna for posting this. I understand why you want to stay away from negative media coverage, but it makes sense to analyze things of this nature. This story in particular turned out to prove wrong those who think digital currency is for criminals. The fact that every fraction of every coin may be traced to any individual who uses it is essential to stop corruption and crime - something that paper money CANNOT DO. (one more reason crypto is superior to fiat)

I am not posting this article because of the sensational and negative headline. In fact the headline is fine and very appropriate for this article. There has been so much negativity about Bitcoin, I might even be a little at fault for being too sensitive when I come across anything that linked bad actors to Bitcoin like the most innovative technology of our generation is faulty.

The author did such a great job with his concluding paragraphs, as follows, that I can close my case without even having to state my argument. Digital currency, like fiat currency, will be used to conduct illegal acts. Fiat currency can be used without a trace. Digital currency provides and preserves all the trace evidences. When fully implemented, digital currency, like DNotes, is far superior to fiat currency in meeting every function of money; as a unit of account, as a medium of exchange, and as a store of value. When the vast majority of the transactions are between two parties at nearly zero transaction cost, hundreds of billions of dollars will be saved in global commerce. That is what DNotes is committed to accomplish. It may take us a generation to achieve that goal but I do know that it is a worthy mission for the betterment of mankind.

“This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.”

Dutch Police Arrests Three People in Bitcoin Money Laundering Investigation

A total of six people has been arrested during police raids yesterday, which took place in The Netherlands and beyond. These police raids are a result of an ongoing investigation regarding money laundering with Bitcoin, a service offered by several individual residing in the Rotterdam area. Bitcoin’s PR problem has gotten slightly worse yet again by the look of things.


It is not the first time Bitcoin is linked to money laundering activities. However, this police investigation focuses on several individuals offering a guaranteed anonymous exchange from fiat currency to Bitcoin. This type of business is deemed illegal under Dutch national law, and it was only a matter of time until the operation was shut down.

The individuals offering this service would accept large amounts of Bitcoins in exchange for fiat currency, all the while charging a higher commission rate. Doing so enables money laundering of stolen or illegal fiat currency into Bitcoin, which will affect the Dutch economy in the long run. Customers who received the fiat currency would own illegally obtained funds, causing all kinds of legal trouble.

According to preliminary reports, these individuals have been able to launder a few million EUR through Bitcoin. All of the bank accounts and Bitcoin wallets used during the operation of this business have been frozen by the authorities. A total of three residents of The Netherlands have been arrested during the police raid, and they will be arraigned as early as tomorrow.

Police officials also confiscated various computers, drugs, weapons and any type of administrative files that could help build the case against these criminals. The three Dutch people arrested are 19, 20 and 23 years old respectively, all of whom live in the Rotterdam area.  On an international level, one 24-year old man was arrested, whom will be extradited from Malta. The other arrest took place in Latvia, and police officials are questioning this person right now.

It will take some time to fully construct the flow of money going in and out of Bitcoin through the hands of these individuals. Not all of the money sources have been unraveled just yet, nor is it clear how this team of criminals managed to get their hands on such large amounts of Bitcoin. More details will be revealed as the investigation progresses.


If there is one thing the history of Bitcoin has shown us, it is that virtual currency is not a viable tool for illegal activities. Despite Bitcoin’s association with various illegal marketplaces and less-than-legal business deals, all of these schemes have come to an abrupt halt sooner or later. The reason for this is simple: Bitcoin is not an anonymous form of money, as every transaction can be publicly tracked through the blockchain.

This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.

Source:

http://insidebitcoins.com/news/dutch-police-arrests-three-people-in-bitcoin-money-laundering-investigation/35076

Bitcoinist.net  Oct 1, 2015 9:22 AM EDT

I think you are absolutely correct, that has been at the top of my mind to implement something to that effect.

Thanks. I think the inborders economy of DC - waits to inborders global economy media (which might be the second step of DECBrief)

Thanks Mati, It is a good idea. Some time ago, I did start on extracting this type of data from the exchanges, it's a fairly large project. It is on the back burner until we have more time.

My idea is to run a strip with the Digital Currencies rates from L to R as it runs on other digital and tv media nets or as it runs on SQR Times. we even can illustrate a central global new square of our own to be the background of this strip. such image can work. people are very interested on the rates of properties in general and their own especially. this idea is kept with me also for the moment our team will decide to create the "New Global Economy" - a daily newspaper ---- which I suggested to establish a few weeks ago

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

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

Mark, this is an important post and I appreciate you sharing these views. It took me a while to think through it, in fact it lingered in the back of my mind throughout the day.

We do have a corporate sense of responsibility and we are building a profit model to support DNotes and I think that is why you have classified us as a 'corporate coin'. Which I believe is accurate to a point, but there are some clarifications needed when classifying DNotes this way. It is decentralized with an engine behind it pushing it forward. It is everyone working hard for a common goal so everyone can benefit together. It is working with the systems in place and environment we live in today to make a brighter future. It is a platform and ideology that I think everyone can get behind and support for not just the here and now but for many generations to come.

Lol. Not very often.

Giving away DNotes has never been a problem if they wind up in the hands of strong supporters.

How about if we make half the 1,000 prizes to the top 5 sharers?  -  That sounds great.

I just realized something - we are paying people in DNotes to enter a contest to win more DNotes - how often does that happen?? 

It's funny how the attitude of the banks has done a complete turn around since last year. 

I'm going to keep an eye on the Royal Bank of Canada (RBC) and Toronto Dominion Bank to see when they start offering mutual funds that contain cryptocurrency and blockchain companies.  I have been an RBC customer for a very long time and they seem to start a mutual fund for everything 'new'.  I'm guessing they will adopt the technology companies first and wait until they find a currency that is proven to be trustworthy and stable.

It may not be necessary to spread them out. If they are following the contest, as we post new articles during the month, they will want to share those as well.

The top sharers getting a reward is a great idea. How about if we make half the 1,000 prizes to the top 5 sharers?