Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 224. (Read 814542 times)

Although I certainly have not read every single mainstream media story about Bitcoin, based on the ones I have read, I get the impression the MSM really doesn't understand Bitcoin. I suspect it's because the writers haven't dug into it deeply enough, or even tried it out much. I've at times read some media coverage about Bitcoin, and compared it to my own experience with Bitcoin and was left scratching my head and wondering: "Are they even talking about the same Bitcoin I know about?"

I've also noticed that even with "inside" media that specifically covers Bitcoin-related news, there's a lot of really relevant Bitcoin news that's just plain lacking, while some of what those outlets get excited about are real yawners. Case in point: About three weeks ago, Poloniex added margin trading to its platform, and with it the ability for users to lend out their funds to the margin traders at very decent interest rates. In the fiat world, only brokerages lend out funds to margin traders and they get all the interest. With peer to peer lending and the ability to loan out amounts as small as 0.001 BTC (which I should mention can be collected from faucets within a week's time), people with very few funds (aka poor people) now have access to profitable financial opportunities that until very recently were only available to well established financial institutions (aka people who are already rich). Surprisingly, I have not seen one news story about this development anywhere.

It is amazing to me that media lags on some issues which will in turn affect the mass population.  You hear snippits here and there about Bitcoin and not even that it is digital currency.  Could it be that they do not understand it and therefore cannot or simply choose not to report on it?  One would think that somewhere along the line media outlets and in particular national television would jump at the chance to be the "first" to get the news out and spread the word.  Perhaps it takes to much research to make sure they do not misquote and be presumed fools for not covering the story of Bitcoin correctly.  I have heard it mentioned a few times here and there but just mentioned not actually covered as a news story as to what it is and what it can do for the people of this world.  Some day it will be mainstream. 

That will be a great press release and I am also looking forward to see what happens as a result of this type of media coverage.  Very exciting!!

The following article is worth reading and here are my comments:

I am a supporter of Bitcoin and a strong believer that what is good for Bitcoin is good for our industry. Unfortunately, being the pioneer, Bitcoin has certain challenges it may never be able to overcome. Mass acceptance of Bitcoin as a currency is extremely remote but the innovative Blockchain technology will lead to massive new business formation and the new engine of huge job growth and wealth creation.

Without strong leadership and an entity or individual with sufficient self-interest to promote and protect Bitcoin as a currency, it will remain as a speculative trading vehicle and not likely to gain much traction as a medium of exchange to exploit the low transaction cost. The growing excitement today is not on Bitcoin as the currency to replace or supplement fiat currency but the power and potential of the Blockchain technology.

*************************************


http://www.forbes.com/sites/jasonbloomberg/2015/06/05/bitcoin-in-search-of-purpose/
Jason Bloomberg  Contributor

Silk Road kingpin Ross Ulbricht’s recent conviction and life sentence was more than simply a crackdown on a massive online black market for illegal drugs. It was a nail in the coffin of the radical new “cryptocurrency” Bitcoin, as Bitcoin was the glue that held Silk Road together.

Or was it? How significant the rise and fall of Silk Road was for Bitcoin is a matter of some debate, as is the purpose of Bitcoin itself. Controversy, however, is nothing new for Bitcoin. In fact, it seems the story of this digital currency consists of nothing but controversy.

In fact, perhaps the greatest challenge for Bitcoin is divining the technology’s true purpose. Early innovators often espoused radical Libertarian goals for revolutionizing the banking system and with it, the world economy. By disintermediating third parties, Bitcoin promised to usher in a new world order of free market commerce.

Only the Bitcoin story didn’t work out that way. Bitcoin soon became a haven for criminals – not just Silk Road, but any number of money launderers and other shady types who gravitated toward an anonymous, relatively safe method for conducting financial transactions, in particular across national borders.

“Because of its openness, Bitcoin will continue to be used by shady actors,”explains Nathaniel Popper, New York Times reporter and author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money. “In some ways, the good comparison is cash. Bitcoiners love saying the main medium for illicit transactions is still probably $100 bills because it can be an anonymous form of transacting that’s untraceable, and Bitcoin still has that quality as well.”
The Forbes eBook On Bitcoin

Secret Money: Living on Bitcoin in the Real World, by Forbes staff writer Kashmir Hill, can be bought in Bitcoin or more traditional currencies.

In fact, just this week news came to light that an Australian company paid hackers a ransom in Bitcoin. Clearly, Bitcoin is the extortionist’s currency of choice, as it combines the anonymity of cash with the global convenience of traditional wire transfers.

If Bitcoin’s true purpose is to facilitate criminal activity, then perhaps Bitcoin itself is – or should be – illegal. However, the US Government for its part pointed out that Bitcoin in and of itself wasn’t illegal, but clearly required regulation. “There’s no way the good attributes of Bitcoin will succeed without a strict regulatory regime,” points out Clay Nelson, until recently the Director of Business Development for Bitcoin startup BitPay.

As a result, “Early adopters with Libertarian or anarchist leanings are the least happy with the direction Bitcoin is going in,” Nelson continues.

If facilitating a new Libertarian world order isn’t in the cards for Bitcoin, and as regulations squelch the criminal angle, what then is Bitcoin’s true purpose?

Many people see Bitcoin as a speculative investment vehicle, as the technology places an upper limit in the number of Bitcoins that can exist, thus creating a permanently scarce commodity. And when each Bitcoin’s value quickly ramped up from a fraction of a penny to well over a thousand dollars, the speculators went crazy – only to cool off as the inevitable downturn more than quartered each Bitcoin’s value.

Furthermore, unless some other purpose promises to drive up demand for Bitcoin in the future, there’s little hope for a substantial price rebound. Speculative demand is a poor substitute for the real thing, after all.

Perhaps Bitcoin’s true purpose is a medium for routine commerce. Pay for your lattes in Bitcoin maybe, or transfer money overseas. Yes, Bitcoin offers some security and anonymity advantages over credit cards and wire transfers, but are those advantages enough?

Nelson is doubtful. “On the consumer side: We have price volatility, first generation wallet technology, entrenched behavior with card loyalty, access to credit, and a belief that customers aren’t responsible for fraud” with credit cards, Nelsonsays.“In other words, the consumer doesn’t feel they have a problem to solve.”

Furthermore, the commission for purchasing Bitcoin (or the spread, in the context of speculation) ranges from five to ten percent – even more than what merchants pay for their credit card support. Why would consumers ever agree to take on this expense if merchants are only too happy to bear such transaction costs today?

Bitcoin’s True Purpose: the Power of the Blockchain

If Libertarians, criminals, speculators, and consumers each find little value in Bitcoin over time, then what’s left? The answer is the blockchain, a critical element of the technology underlying Bitcoin.

The blockchain is a tamperproof, decentralized, globally verifiable record of all Bitcoin transactions since the creation of the technology. You can think of the blockchain as a massive accounting ledger – only unlike traditional ledgers, it exists in the form of widely distributed identical copies that everyone can agree contain accurate and up-to-date records of all Bitcoin transactions around the globe.

In fact, the blockchain has potential uses even beyond Bitcoin transactions themselves, for example, to record any kind of business transaction where the parties involved want to publish the details for everyone to see and to be able to verify.

Innovation in blockchain-based business models are therefore not surprisingly a current area of innovation and investment. Nelson agrees. “Investors are most interested in the Blockchain itself,” he admits.
From real estate deals to complex counterparty transactions, blockchain technology promises to lower transactional risk while increasing transparency – solid, above board business benefits that promise to drive both continued innovation as well as acceptance and adoption over time.

Admittedly, blockchain technology is still new, and there are indubitably both business and security risks that people have yet to uncover. At this point in time, however, there’s no question the smart money is betting on blockchain technology.

This article is the first in a series on Bitcoin and blockchain technology. The author welcomes briefing requests from innovators in this space. Email him directly at [email protected].

Intellyx advises companies on their digital transformation initiatives and helps vendors communicate their agility stories. As of the time of writing, none of the organizations mentioned in this article are Intellyx customers. Image credit:Antana.

Follow Jason Bloomberg on Twitter orLinkedIn.

With the amount of growing interest from Wall Street these days there should be some media coverage. It will be recorded and made available on Youtube. Could be a lot of fun.

Pretty amazing. Did some research and Silicon Dragon appears to be popular in the tech, innovation, venture capital worlds. This could be the tipping point mentioned in TeeGee's post. Can't wait to see if it televised or published.

These concerns are why staying the course with adjustments along the way will make DNotes a leader in the beginning and throughout.  Regulations can be a challenge but with the right team, contacts and plan in place they can be managed. The curve balls which are thrown can be adjusted for!

TeeGee, you are correct the unintended (perhaps intended) consequences are to make things so expensive and difficult that only the big boys are left to play. We are watching this very closely and adjusting as we see appropriate. DNotes is well positioned, broad base, nimble and agile with highly scaleable building blocks. I am already spending a lot of time in the "front line" . I love to be in the position to help shape the industry one day. We just have to work really hard to earn it first.

More details have been released concerning the Silicon Dragon NY 2015. I will be speaking on a panel at this event.  Please check out the following link:

http://www.silicondragonventures.com/events/events-2015/silicon-dragon-ny-2015/
INNOVATION SPOTLIGHT: DIGITAL CURRENCIES

Francesco Rulli, Founder, BitLanders & BitCharities
Sarah Martin, VP, Digital Currency Council
Alan Yong, Founder, DNotes
Moderator: Porter Bibb, Managing Partner, MediaTech Capital

This is likely to be their biggest event and DNotes is the digital currency being highlighted. Wall Street is hot on Bitcoin but also have doubts about Bitcoin gaining mass acceptance. Even though our budget is getting tight, we may decide to have a press release the week of June 15, 2915.

Coming up with the right headline and developing the most appropriate content is a little challenging based on what I like to see, especially when I no longer have a long stretch of time when I can just focus in writing a persuasive and compelling article. Furthermore, we simply have too much to cover in one article. It’s amazing how much DNotes and its community have accomplished in just over a year.  We can certainly use your help. Please comment and add to the PR based on my suggested out line below. For some prospective and reference, please Check out "Bitcoin In Search Of Purpose”:
http://www.forbes.com/sites/jasonbloomberg/2015/06/05/bitcoin-in-search-of-purpose/

A great press release will need to have an attention grabbing headline covering the following points:

1. Is the industry giving up on the "trustless" Bitcoin to ever gain mass acceptance? Everyone rushing to Blockchain.

2. Bitcoin may never fully recover from countless negative headlines and settled with limited purpose; as a speculative trading vehicle, failing to ever meet the full functions of money and gain mass acceptance. It is too costly to acquire, too volatile as a store of value and medium of exchange and stakeholders limited to certain groups.
In contrast; DNotes

3. DNotes is the second generation Bitcoin alternative digital currency taking full advantage of the pioneer's innovation while avoiding their pitfalls, while creating a culture of mutual respect and co-operation for mutual benefits.

4. Branding: stability, trust, reliable long-term appreciation, currency value in line with fundamental value - no pump and dump.

5. Mass inclusion for mass acceptance: Must include women - CryptoMoms;
For everyone - unborn and most senior, rich or poor. Family of CRISPs.

6. Currency with a purpose - global initiatives to help solve global problems; the unbanked and cross border currency remittance. Long term initiatives to grow next generation of leaders to solve global problems - CRISP For Students.

7. Own ecosystem with highly scaleable buildings block to expand rapidly on a global scale at the most opportune time.

8. Ease of use, secure and guarantee; DNotesVault

9. Conclusion: There should be little doubt that Bitcoin will be the greatest technology revolution in the history of mankind. Bitcoin as a currency is an integral part of the technology pack; powered by the Blockchain as the most innovative protocol of decentralized distributed consensus ledger. DNotes, designed from ground up with a purpose, as the stable trustworthy digital currency for everyone is destined to be the Digital Currency of The Future with Lasting Value. That is the currency with the highest potential for mass global acceptance.

All of this crypto-regulation leaves me feeling a little unsettled. It makes it very difficult for new challengers, and further entrenches exchanges and companies that are already established (Circle, Coinbase... ya know... places that have taken money from: the New York Stock Exchange, USAA Bank, BBVA and Goldman Sachs).

As always, the founders of this team have solid plans, and they know the challenges these regulations may bring, and how they can be worked to DNotes advantage.

Between the changes that digital currency and blockchain technology will be bringing coupled with the sheer size of the Millennial demographic who are interested in different things than the previous generation, will the world as we know it be recognizable in 15 years?  If they feel this strongly against banks (previous millennial article - http://cointelegraph.com/news/114348/the-millennial-generation-bankings-big-problem-and-its-a-good-thing) and the government, even if the banks or a certain country issues it's own cryptocurrency, if the Millennials don't accept it, there's not much chance of it being successful.

***

This is a Millennials Infographic done by Goldman Sachs. It shows just how different life is for them and refers to them at one point as the "renter generation".

MILLENNIALS COMING OF AGE

One of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the ways we buy and sell, forcing companies to examine how they do business for decades to come.

(Summary)
The Millennial generation is the largest in US history and as they reach their prime working and spending years, their impact on the economy is going to be huge.

Millennials have come of age during a time of technological change, globalization and economic disruption. That’s given them a different set of behaviors and experiences than their parents.

They have been slower to marry and move out on their own, and have shown different attitudes to ownership that have helped spawn what’s being called a “sharing economy.”

They’re also the first generation of digital natives, and their affinity for technology helps shape how they shop. They are used to instant access to price comparisons, product information and peer reviews.

Finally, they are dedicated to wellness, devoting time and money to exercising and eating right. Their active lifestyle influences trends in everything from food and drink to fashion.

These are just some of the trends that will shape the new Millennial economy.

full article and infographic - http://www.goldmansachs.com/our-thinking/pages/millennials/index.html

Haven't read the bills yet, but I certainly support your standpoint. I encourage everyone to take a serious look.

And, if anyone is interested in helping to stop the State of North Carolina from regulating digital currencies, or at the very least, show them they need to consider opinions other than those of the big money financial institutions, please go to http://bitcoinregs.org/ and sign the two letters going to the state legislature there.

Please understand, I have no problem with regulation when it is actually fair and reasonable not one sided and crushing. The only voice we have in these debates, the only way to sway opinions without the financial bat of Wells Fargo, MasterCard, etc, is to speak up load and clear and make OUR opinion known.

Remember, even if your not into Bitcoin itself, these regulations affect ALL coins and digital, crypto based offerings. What affects Bitcoin, affects us all. Fight the fair and honest battle, don't let big money run your life, tell 'em to give crypto a chance.

I apologize if this was already mentioned, I'm playing catch up but, the Comkort Exchange is closing July 15th. You should remove anything you might have there as soon as possible.

So, whats with the $5000.00 fee? Is there a "Five Thousand Dollar Club" they all belong to? Is there no way they could stamp your peice of paper for say, $3500.00? 

Taa for that advice.

Mark

More news in digital currency regulation. I haven't gotten through the entire bill as of yet, but this one is targeting companies that maintain full ownership of digital currencies for others (web wallet, exchanges, and the like), operating in California. A $5,000 application fee is required, annually, unless deemed exempt.

Bitcoin Regulation Bill Approved by Californian State Assembly

California's State Assembly has approved a bill calling for digital currency companies to be regulated in a similar way to banks.

Formulated by Assemblyman Matt Dababneh, chairman of California's Banking and Finance Committee, bill AB-1326 was approved following a 55-22 vote in favour.

Currently undergoing review by California's Senate – having already completed the first of three readings – if passed, the bill would require digital currency businesses to obtain an annually renewable license from the Department of Business Oversight (DBO), unless they are exempt from doing so by the agency.

As previously reported by CoinDesk, license applicants would incur a $5,000 non-refundable registration fee; would be required to complete an application which includes identifying any previous virtual currency services provided by the applicant.

[...]

http://www.coindesk.com/bitcoin-regulation-bill-approved-by-californian-state-assembly/

I have closed my Asiacoin account at a loss a long time ago. Wish them the best, though.

For now I am exclusively invested in DNotes, Bitcoin and Ripple. I am ahead in one out of three, not counting on seven others I have written off.

Fair warning.

I know there are some folks in here that invested in AsiaCoin in the past. You might want to check this out, looks like they are trying to make a comeback:

https://bitcointalk.org/index.php?topic=595999.3580