Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 216. (Read 814541 times)

I didn't read the whole report - I'll save that for another day with more hours in it.  One of the recommendations is that Canada works with other countries to formulate global guidelines for digital currency.  Considering the close relationship that Canada and the U.S. have, I'm sure it's only a matter of time before the U.S. comes to the same conclusions.  It is very nice to see Canada taking a leadership role in this!


“Digital Currency: You Can’t Flip This Coin! Report of the Standing Senate Committee on Banking, Trade and Commerce.”

LIST OF RECOMMENDATIONS
The Committee recommends that:

Recommendation 1 (page 13)
The federal government, in considering any legislation, regulation and policies, create an environment that fosters innovation for digital currencies and their associated technologies. As such, the government should exercise a regulatory “light touch” that minimizes actions that might stifle the development of these new technologies.

Recommendation 2 (page 14)
The federal government consider the use of blockchain technology when advantageous to deliver government services and to enhance the security of private information.

Recommendation 3 (page 14)
Digital currency exchanges, the “on and off ramps” of the digital currency system, be defined as any business that allows customers to convert state-issued currency to digital currency and digital currencies to state-issued currency or other digital currencies. To minimize the risks of illegal activity in relation to Canada’s anti–money laundering and anti–terrorist financing laws, the federal government should require digital currency exchanges, with the exclusion of businesses that solely provide wallet services, to meet the same requirements as money services businesses.

Recommendation 4 (page 15)
The federal government, on an active and ongoing basis, work with other countries to formulate global guidelines for digital currencies while respecting the “light touch” premise outlined in Recommendation 1 above.

Recommendation 5 (page 15)
The Minister of Finance convene a roundtable with stakeholders, including banks, to look for solutions to the lack of access to banking services for digital currency related businesses, while recognizing the requirements of Canada’s anti–money laundering and anti–terrorist financing regime.

Recommendation 6 (page 16)
The federal government, through appropriate federal entities, provide concise information to the public about the risks of digital currencies and alternative payment systems.

Recommendation 7 (page 17)
The federal government, through the Canada Revenue Agency, provide concise information to Canadians about the tax obligations of digital currencies when received as income, held as an investment, or used to purchase goods or services.

Recommendation 8 (page 17)
Due to the evolving nature of digital currencies, the Standing Senate Committee on Banking, Trade and Commerce review this study of digital currencies and their associated technologies to assess the appropriateness of the regulatory environment in the next three years.

Thanks DNotes and Dyna, we're just getting started. I not only want this be the easiest guide to digital currency, but the most comprehensive as well.

yes, and to use this system - as 1 detail on the wide picture that characterizes DNOTE in social manners. I guess "mannage" is not the right phrase here, even if the action might seems close to managing, it is not mannaging but community steps

 

Hi matatyau, so to summarize, you would suggest a community managed fund where everyone could contribute and be used to offset an event where coins were lost/hacked. Did I get that correctly?

   Because regulations are not matching to an un institutional currency, (it seems as oil and water) - I think that it would be better to find a system that has a social character, under the national character that regulations have.
my system to offer is: a Common Guaranty System, which is not insurance for the NOTES account (and other DC), but it is kind of social and community trust - that would cover partial loss of hacking and digital fades.
any way, i think that the currencies that will develop and stay on the stage, and will not fade out - will be the currencies that will be characterized - on the conditions of un national and un institutional field.
I will be happy detail this suggestion of Common Guaranty System, I sure have some ideas regarding how it should be, but first I wish to read your comments, if at all, and understand where kind of idea stands in your thoughts

Excellent job guys! Really like the new look.

Wow. Amazing work. Contragulations for a job very well done!!!.

DNotes Educational Guide Version 2 is officially launched on Google Play.
https://play.google.com/store/apps/details?id=com.cojack.dnedu

Whether you are a beginner or expert with Digital Currency, DNotes Educational Guide will teach you everything you need to know about Digital Currency.

Save time and effort with this easy to use guide on Digital Currency. Why waste countless hours sorting through potentially misleading information, when our industry professionals who wrote this guide have spent thousands of hours doing it for you. It features a continually expanding database of how to guides, terms and definitions, and quiz to test your knowlege.

Although we have plans in place to generate revenue, our services will always remain free to our users. All proceeds from DNotes Educational Guide go to:
Fire Fighters for Digital Currency (FF4DC) - www.firefightersfordigitalcurrency.com www.ff4dc.com
and
Veterans for Digital Currency (V4DC) - www.veteransfordigitalcurrency.com www.v4dc.com

Watch preview on YouTube:
https://m.youtube.com/watch?v=hHVM5qCRiAY&feature=youtu.be

Show your support on the new Bitcointalk thread:
https://bitcointalk.org/index.php?topic=1094490.new#new

Connect with DNotes Educational Guide through Social Media:
Twitter - https://twitter.com/dnotesedu
YouTube - https://www.youtube.com/channel/UColbi5N4tCOUfMEC4uMjEDw

Version 2 Lead Developer was Bitcointalk user "cojack"

http://insidebitcoins.com/news/dnotes-alan-yong-speaks-at-silicon-dragon-regarding-bitcoins-shortfalls/33225

If we had the resources -- sigh -- we'd study nations, over the next few years, in respect of their attitudes to cryptos.

Will we be able to graph the impacts of both the positives and the negatives on individual nations? Will positives outweigh negatives?

Will some nations be proven right in having bet that they can 'drain' so much money and talent from negative-attitude nations that they (the draining-nations) will ultimately wind up way ahead notwithstanding the negative aspects? I think that Singapore has made this bet.

'If you can't beat 'em, join 'em.'

Mark (IndiaMikeZulu), Australia

I was just about to say something similar.  Now I can just say I agree with RJF!   

"not necessarily regulation, but regulation as necessary" - from the mouth of a politician

I am truly impressed!

“We believe that the best strategy for dealing with crypto-currencies is to monitor the situation as the technology evolves; that Canada Revenue Agency and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) must prepare to navigate and use block chain technology; that this technology offers new ways to protect the personal information of Canadians; and, finally, that this technology requires a light regulatory touch – almost a hands off approach. In other words, not necessarily regulation, but regulation as necessary.”

EXACTLY! Wow, are we sure this came from politicians? This is the key to crypto success and, it makes perfect sense. It allows them to see the progression of the technology without giving away the right to regulate if needed but, allowing things to progress naturally.

These leaders need to be applauded for their foresight to resist the urge to "take control" Hats off to Canada!
 

That is excellent. It would be nice if US Senate would do the same.


http://cointelegraph.com/news/114603/canada-rules-in-favor-of-an-almost-hands-off-approach-to-bitcoin
2015-06-19 09:13 AM
 Author Evander Smart




The Canadian Senate has decided to protect Bitcoin from massive government regulation opting to approach the new technology with “a light regulatory touch – almost a hands-off approach.”

After many months of thoughtful deliberations, the legislative body released the official Canadian Senate report titled “Digital Currency: You Can’t Flip This Coin! Report of the Standing Senate Committee on Banking, Trade and Commerce.”

The Canadian Senate has spent the better part of the last year reviewing the role of digital currencies will have on the future of economics in the nation including counsel with established Bitcoin expert and advocate Andreas Antonopoulos.

Learning how the currency and underlying technology currently works, what they may be able to provide in the future, the risks for crime, terrorism and fraud, plus the protection of citizens from “cybercrimes” were also weighed heavily in this decision.

Their report's opening assessment of Bitcoin is as follows:

“Block chain technology offers a secure alternative to consumers who do not wish to see their personal information fall prey to the Internet. It offers the ability to transact on the Internet without sharing their personal information with third parties whose databases make juicy targets for hackers. Instead, block chain technology gives consumers the power to provide their own hack-proof online security.”

This victory for Bitcoin comes after issues in Russia with the banning of Bitcoin information websites and Australia levying onerous tax regulations upon cryptocurrency filling the headlines.

Australia has also taken counsel with Andreas Antonopoulos to learn more and hear a proponent’s view of what Bitcoin can do for a domestic and global economy. Antonopoulos explained to the Canadian Senate last October:

“Bitcoin does not force users to surrender their identity with every transaction and put their trust in a chain of supposedly vetted intermediaries who must be trusted to control access to, securely store, and protect transaction data […] because in Bitcoin trust is not vested in central actors, there is no need for centralized regulation and oversight.”

Canada has seen a high amount of Bitcoin interest and business growth over the last two years, including the opening of a Bitcoin Embassy in Montreal. It also hosts almost 70 Bitcoin ATMs around the country, the highest number in the world for any country after the United States, which has 133.

"The conclusions of the Senate Banking Report on digital currencies are extremely positive for all Canadians," said Anthony Di Iorio, President of Decentral Consulting Services and Ethereum Co-Founder, to CoinTelegraph. "Recommendations from the committee that the government explore the vast potential bitcoin and blockchain technology while cautioning against regulations that might hinder its growth and potential have the great opportunity to solidify Canada as a leader in the digital currency and cryptocurrency space."

With Canada’s Senate taking a very pro-Bitcoin stance, this may foster business creation and adoption of the currency and blockchain technology in Canada going forward. The Canadian Senate report concluded with these words in regards to their official stance on digital currency (Bitcoin):

“We believe that the best strategy for dealing with crypto-currencies is to monitor the situation as the technology evolves; that Canada Revenue Agency and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) must prepare to navigate and use block chain technology; that this technology offers new ways to protect the personal information of Canadians; and, finally, that this technology requires a light regulatory touch – almost a hands off approach. In other words, not necessarily regulation, but regulation as necessary.”

This is an interesting article attempting to figure out what bitcoin users are using it for and why based on Google's search.

It seems to focus on buying things with bitcoin, but personally, I don't think digital currency is at a stage where people would typically be using it specifically for purchasing, and wouldn't expect to see much of that kind of data. Yes, the one off would occur because you might have bitcoin, or because your a miner, or earned it in some way, or even a hardcore enthusiast. Mainstream development is still very early. Everyone here, buying it, saving it, using it is still an early adopter.

WHAT GOOGLE TELLS US ABOUT BITCOIN USERS

http://www.pymnts.com/exclusive-series/2015/what-google-tells-us-about-bitcoin-users/#.VYRntc9VhBc

Glad you got it figured out, thank you Wiser.

thank you

At the top and bottom of each thread page, by where the list of hot linked thread pages is, there is a hotlink that says "reply." If you click on it, it will give you a blank message template.

To start a new topic, you have to find the appropriate board (for example, this thread is in the Announcements (Altcoins) board). Once you're in the right board, there should be a button somewhere that says "New Topic" or something similar.

Friends, need your help: how can I write a new message? not reply, not quote, but new one. I've searched this page but coudn't find  the answer. thanks

Hi Wiser, all conversation is welcome here, although this does seem like a good topic for CryptoMoms as well. This is my personal opinion. Power stems from recognition. We learn from our history, and the great people in our history. Recognizing their contribution, regardless of race / gender / affiliation equally, is a step in the right direction to influence peoples mind set even if it is not a complete solution.