Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 169. (Read 814541 times)

DNotes Price Update:

It looks like DNotes price has been firming up at Polo. Other than a supply to demand imbalance over the last 45 days, there are no specific reasons I know for certain why there has been a deep and extended price drop. The question I wish I have an answer, is where did the additional supply came from? Certainly not form DNotesVault depositor, with the exception of one larger withdraw which would have been  absorbed in a few days based on historical date. I am watching it closely.

Commonwealth Governments Urged to Regulate Bitcoin

Commonwealth governments should regulate bitcoin to address the risks associated with digital currencies without stifling innovation.

This was one of the recommendations put forward by the Commonwealth's Virtual Currencies Working Group during a three-day conference held in London this week.

After hearing from the banking sector, academia, virtual currency operators, users and law enforcement agencies, the group urged governments to re-consider their legislative response to virtual currencies such as bitcoin and strengthen law enforcement to counter criminal use.

The group, which noted that virtual currencies have potential benefits and could help drive development, concluded:

"Member states should consider the applicability of their existing legal frameworks to virtual currencies and where appropriate they should consider adapting them or enacting new legislation to regulate virtual currencies."

Additionally, the group asked governments to provide education on digital currencies and funding for training law enforcement agents, prosecutors, judges, regulatory authorities and the financial sector.

The group is expected to prepare a report on the prevalence and impact of virtual currencies and plans to reconvene in early 2016 to consider drafting technical guidance on the subject for member states.

View the full conclusions and outcomes from the event here:

http://www.scribd.com/doc/276481088/Conclusions-from-the-Commonwealth-Virtual-Currencies-Working-Group-Three-Day-Event

Source: http://www.coindesk.com/commonwealth-governments-urged-to-regulate-bitcoin/

Quoted from the document:

CONCLUSIONS
4.
 
The Group agreed that:
 
  Virtual currencies have a potential to benefit Member States and to drive development;
 
  The use of virtual currencies has benefits and risks;
 
  Awareness, education and funding for training for law enforcement, prosecutors, judges, regulatory authorities and the financial sector are needed;
 
  Member States should consider developing and improving the capacity of law enforcement especially in the areas of digital forensics and analytics;

  Member States should consider the applicability of their existing legal frameworks to virtual currencies and where appropriate they should consider adapting them or enacting new legislation to regulate virtual currencies;

  Legal frameworks should address risks and vulnerabilities, be technologically neutral and avoid stifling innovation;

  Member States are encouraged to implement the FATF Guidance for a Risk Based Approach to Virtual Currencies (June 2015);

  The Commonwealth Secretariat should create a digital repository of best practice and model regulations as part of an online community to assist Member States in developing policy; and

  Relevant technical terms should be clearly defined in the guidance to be made available to Member States.


OUTCOMES
5.
 
  The Group resolved upon the following outcomes (the ‘Outcomes’):

    to complete a report on the prevalence and impact of virtual currencies within one (1) month;

    to convene again in early 2016 to consider draft technical guidance for member states on virtual currencies; and

    to continue to raise awareness and develop capacity building on virtual currencies within the Commonwealth.

I expect that within a couple of years majority of the universities that offer a major in computer science will be offering classes in cryptography, Blockchain technology, and digital currency. That is where a lot of the high paying jobs will be. I just hope that some of the  business schools will play an active role in that too. This is a very different industry. From a business prospective, I can not imagine that there is any other industry more challenging and demanding. I have the feeling that majority of the people in our industry do not quite understanding the value of our ecosystem. Frankly, without that DNotes will be just another digital currency, Wanting to be gain mass acceptance one day would be just wishful thinking without everything else that we have been doing.

Everything that we do are strategically linked. DCEBrief will be extremely valuable in helping us to accomplish our mission. None of our ecosystem is priced in the value of DNotes, making it significantly undervalued.

Looking through the material though, it appears to be geared towards coding, and manipulating hashing functions and cryptographic security (hence computer science background prerequisite). It doesn't start for another week, so I'll have some time to think it through.

Thanks TeeGee and way to go for signing up!

I watched the video and I'm pretty sure these people will find their way to DNotes and will be very impressed with DCEBrief!  At the beginning there were comments such as "clear up some of the confusion", "cut through the hype", and "separate fact from fiction", which is exactly what we all believe in and one of the fundamentals of DCEBrief.

I love the fact that anyone can take a course like this from anywhere in the world, regardless of their ability to pay.

Very impressive!

Thanks, Chase. Great move, TeeGee. If you have time try to connect with the teachers and offer them the free DNotes through CRISP For Students.

Excellent find, I just signed up.

This will go a long way in legitimizing the industry. There is a video in the upper right hand corner, it's only 1:30, give it a watch:
https://www.coursera.org/course/bitcointech

Another prestigious school is offering an online course on cryptocurrency through Coursera and the best news is it is free!


Online Bitcoin course by Princeton now available on Coursera

World renowned Princeton University has started an online course on Bitcoin and Cryptocurrency Technologies. The course will be available on Coursera, which is a leading education platform that aims to partner with “leading universities and organizations worldwide, to offer courses online for anyone to take, for free.”

Earlier, we had reported that Cryptocurrency was also going to be added to the Stanford’s cyber security program.

Princeton’s cryptocurrency course will be available only in the English language and will need 6-weeks of study with minimum 3-5 dedicated hours per week.

In the introduction to the course, on the Coursera website, it is written that “there’s a lot of excitement about Bitcoin, but also a lot of confusion about what Bitcoin is and how it works. We’re offering this course focusing on the computer science behind Bitcoin to help cut through the hype and get to the core of what makes Bitcoin unique. To really understand what is special about Bitcoin, we need to understand how it works at a technical level.”

This course will be taught by senior faculties like Arvind Narayanan, Joseph Bonneau and Edward Felten of the Princeton University and Andrew Miller of the University of Maryland.

The first session of the course will begin on September 4, 2015, and would conclude on November 1st, 2015. The course will be divided under the following subheads:

Intro to Crypto and Cryptocurrencies
How Bitcoin Achieves Decentralization
Mechanics of Bitcoin
How to Store and Use Bitcoins
Bitcoin mining
Bitcoin and anonymity
Community, Politics, and Regulation
Alternative Mining Puzzles
Bitcoin as a platform
Altcoins and the Cryptocurrency Ecosystem
The future of Bitcoin?
The class will also include videos of lectures that will be broken up into 5-7 segments, with each of it being 10-15 minutes in length.  These segments will also have 1 or 2 integrated quiz questions and standalone homework will be available that will not be a part of the video lectures.

http://www.newsbtc.com/2015/08/26/online-bitcoin-course-by-princeton-now-available-on-coursera/

https://www.coursera.org/course/bitcointech

Love the article. Here are my suggestions. Squeeze in no middle man required for payment processing, and payments confirmed and usable from your account in minutes rather than several business days, into the example of the executive summary.

Here is my first unedited article for DCEBrief scheduled to be launched the 1st week of September. Feel free to comment and edit. I am not a professional writer, but just someone trying hard to make a contribution to an new technology I am very passionate about. I am totally dedicated to help build a trusted global digital currency for everyone worldwide to participate. You all are warmly invited to join force with us. Thank you and enjoy.


Executive Summary:

Although unlikely in the near future, it is conceivable that a merchant using digital currency, conducting 100% of his transactions locally or worldwide could have complete bookkeeping records of every transaction perfectly balanced for any on-demand audit at the push of a button. There would be no requirement of creating a paper trail or double entry of data; drastically improving efficiency. The transaction fees or chargebacks would be at near zero. That is the future of money.

However, historically, large scale changes and mass acceptance of new technologies, despite their immense potential to improve efficiencies and productivity, have taken years, decades, or even many generations. When fully adopted, it led to massive job creation, improve standard of living and enormous wealth accumulation.



We have been down that route many times. Large scale changes and mass adoptions take years, decades or many generations as the case may be. The first Industrial Revolution took place during the 18th and 19th centuries. Recorded history witnessed the transition from predominantly agrarian rural societies to an industrial Europe and North America with urban societies over a time span of multi-generations. Many early adaptors made their fortune with the convenience of money as a medium of exchange, a store of value and a unit of account, while creating a massive number of new jobs. The utilization of steam engines and other machineries brought about immense productivity gain. Yet there had been great struggle in many cases where the full productivity improvement was only achieved after a new generation of managers replaced the older generation. Large scale changes are never quick or easy.

The second Industrial Revolution took place from 1850 to 1914 when automation and mass production kicked into high gear. Electricity and fossil fuel became the catalyst for the new invention of the combustion engine. Again it took decades for many new inventions to evolve and gain mass acceptance. New fortunes were made and millions more jobs were created. Productivity continued to improve.

Since the end of World War One, we have been in the Third Industrial Revolution. Within this period we have been witnessing many technology revolutions, causing impressive productivity gain as the result of great improvements in efficiency. Hundreds of millions of new jobs have been created and the standard of living drastically improved around the world, with enormous fortunes accumulated by a relatively small percentage of the population. According to a recent Oxfam published report, the richest 1% of the population controls nearly as much wealth as the remaining 99% combined.

Perhaps one of the most significant changes was the switch from analog to digital technology that started in the 1980s, at the emergence of personal computers and cellular telephones. We are now living in the digital age and almost any thing that can be digitized will be digitized. Get use to the term digital asset which includes digital currency. We should learn to embrace it and objectively gain the knowledge not to fear it. When one begins to understand why digital currency and the Blockchain technology will be the greatest technology revolution since the internet, that fear will be replaced by a desire to learn more and put it to good use.

To a large extent most money or fiat currency is already digital, in the sense that it is recorded, stored, transmitted, accounted for, and posted in a digital ledger.
The banks seem to have finally caught up, as a necessity, in order to remain competitive while attempting to constantly improve productivity. Unfortunately, a closer examination of our current banking system, financial services, and the credit and debit card payment network system will reveal great inefficiencies and risk exposures.

With the exception of cash payment between two parties, money transactions require multiple data entries to provide audit trails. It also requires extra time to pass through multiple intermediaries often incurring high fees especially in the case of merchant accounts accepting debit and credit cards, wire transfers, and cross border remittances.

As Bitcoin and other digital currencies gained broader acceptance, major banks are seriously considering their version of token or digital currency. It is too early to tell how this will play out. What is predictable is that many jobs will be on the line for the sake of better efficiency for higher productivity. The banking system will have their version of centralized digital currency to enable more efficient flow of funds and record keeping.

Bitcoin and other digital currencies like DNotes are much more than currencies that meet the full functions of money as a unit of account, as a store of value, and as a medium of exchange; the inherent characteristics of fiat currency. They are also a global payment network enabling one Internet user to pay another Internet user anywhere worldwide, instantly at near zero cost, without the oversight of any central authority or middlemen.

As an integral part of digital currency is the highly innovative Blockchain distributed consensus and record keeping technology that eliminate the high cost of double entries and the complexity of audit trails. Every transaction is a cryptographically verified, time-stamped permanent record for anyone worldwide to see. By design, Bitcoin and digital currency is programmable money that allows additional data and instructions to be recorded on the Blockchain.

Although unlikely in the near future, it is conceivable that  a merchant using digital currency, conducting 100% of his transactions locally or worldwide could have complete bookkeeping records of every transaction perfectly balanced for any on demand audit at the push of a button. Digital currency eliminates the costly, excessive paper trail with further savings coming from near-zero transaction fees and no chargebacks. That is the future of money.

Made quite a few security changes on DCEBrief and updates today. If you notice anything that looks out of place, please let me know.

Updated on DCEBrief, as a reminder the password is:
http://DCEBrief.com
Username: dce
Password: Brief

Executive Summary:

The convergence of technologies in the 21st century will go down in history as the Digital Age. It is an era of great technology innovation, remarkable productivity gain, massive job creation and enormous wealth accumulation, as well as immense disruption of incumbent industries too slow to adapt and change. At least in part, the casualties of late adoption and reluctance to change can be attributed to information overload and confusion due to the lack of objective, concise, and timely information available.

Convinced that Digital currency is the greatest technology revolution since the internet, DCEBrief is committed to change the confusion in our industry, by bringing issues that matter to your attention, utilizing an “Executive Summary” without fluff and filler. Our mission is to keep you informed with timely, objective, accurate, and unbiased information that encourages both the cooperation of the media and the full support of our political leaders and regulators to help promote and not stifle innovation for the better good of mankind.




The dynamics of the world we live in are rapidly changing and at an increasingly faster pace. We are already living in the digital age, from a humble beginning when personal computers were first introduced in the late 1970s evolving into mobile computing and wireless communication in the late 1980s.

The Internet, E-commerce, smart phones, online banking, crowdfunding, digital currency, social media and more, are the direct result of the convergence of technologies including seamless wireless communication and powerful computing capabilities at our finger tips, all of which are available today.

We are now hyperconnected globally, with a projection of five billion people online by the year 2020. Some of the world’s biggest problems may very well be our biggest opportunities, in terms of job and wealth creation. One of the biggest problems is the lack of a global currency that is not at the mercy of the misfortune of individual nations, where innocent citizens can lose their life savings overnight. Like the rerun of a bad movie, we have seen it too many times. Unfortunately, as in the case of Greece, it got a lot worse each time it was replayed, with little hope for a long term solution.

There are clearly massive economic inequalities on a worldwide scale. The opportunity to facilitate global collaboration to assist the unbanked as a means to help alleviate poverty, as well as to encourage women business empowerment and more are now within our reach. The technologies are already at our disposal. What is missing is a truly global digital currency that is not owned by a single nation, or a united group of nations as in the case of the European Union.

Most people may not realize that we are witnessing the greatest technology revolution since the Internet as a result of the creation of Bitcoin in 2009. This immensely innovative decentralized distributed consensus technology enables one Internet user to pay another Internet user anywhere worldwide, instantly at near zero cost, without the oversight of any central authority or middleman. It is as convenient as paying cash at a local convenience store and the value of the payment is exactly the same any where worldwide.

This will have very positive world changing implications resulting in a quantum shift in the way we collaborate and conduct global commerce. Imagine the limitless possibilities as a result of improved global economic equality. Mass acceptance and widespread utilization of a trusted global digital currency like DNotes may be the most viable vehicle to accomplish these possibilities.

There may not be a better opportunity for our political leaders, regulators, philanthropists, media executives, educators, business executives and others to pledge a small commitment of their precious time to stay objectively informed on issues that matter as they pertain to the utilization of digital currencies to promote global collaboration for economic equality.

DCEBrief is committed to focus on bringing issues that matter to your attention, utilizing an “Executive Summary” without fluff and filler. When appropriate, we may also include full length articles. Our mission is to keep you informed with timely, objective, accurate, and unbiased information. We will need the cooperation of the mainstream media and the full support of our political leaders and regulators to help promote and not stifle innovation for the better good of mankind.

Glad to have you back.

You have my full support TeeGee. We want students to have the opportunity to grow with us.

As I understand it, on the PayServices platform, DNotes could be traded with anything in their system including any form of fiat, precious metals, other coins etc... However, that alone wouldn't decouple the relationship in price I'm guessing.

Hi TeeGee. We missed you. Good to see you back here. I will try to contact the professor at Stanford and may even write an article along those line to be posted on LinkedIn.

Hopefully the price of DNotes will stabilize soon.

That is really interesting!?

Perhaps a polite CRISP for Students e-mail proposal to one of these programs is in order? I have been in contact with my own school a bit here and there, but each e-mail I write requires some 1500 to 2000 words to communicate fully. Luckily, I'm now on school holiday for two weeks - time to pick up some of those DCEBrief.com topics. Alternatively, perhaps a LinkedIN approach directly by DYNA could have a large impact.

It is annoying watching the crypto volatility as we have seen this last week or two, for me it is not because of personal loss in 'wealth', because I view future appreciation in the longer term as a certainty, but because it makes it a little more difficult to sell the idea of crypto to people after having week after week of boom/bust/repeat. This is not unlike what we have seen in US / Chinese markets recently though, the uncertainty and losses being incurred in nearly all markets are puzzling to predict (short-term). Luckily CRISP for students offers crypto to students for free, with the potential to appreciate a lot.

Another great reason to have the DNotes value decoupled from the Bitcoin price.

Agreed, the certification costs about the same as a brand new car. I understand it is Stanford, by the time it reaches your local colleges I'm sure it will be much more affordable with online courses and such.

Here is the course outline:
The potential application for Bitcoin-like technologies is enormous. This course covers the technical aspects of engineering secure software, system interactions with crypto-currencies, and distributed consensus for reliability.

Instructors
Dan Boneh Professor, Computer Science and Electrical Engineering
Topics Include
Altcoins
Bitcoin transactions
Consensus protocols
Cryptocurrency
Elliptic curves
Hash functions
Mining strategies and incentives
Proposed Bitcoin regulations
Zerocoin, zerocash
Units
Prerequisites
CS110

That's quite the price tag, most people would need to take out a loan in order to afford that. This sends a strong message that Bitcoin education is exclusive to a privileged few, when the focus should be on making it as inclusive as possible. Widespread free education will help our industry flourish, giving anyone with an internet connection the equal opportunity to play a role in its growth and development.