Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 253. (Read 814542 times)

"Too volatile to be used as a store of value" - In an eight month period in the past year, the Canadian dollar fell 16% against the US dollar.  The US is Canada's biggest trading partner and while the drop may benefit some, it will hurt anyone who's investments were tied to the Canadian dollar.  So called safe investments such as bonds, term deposits, and cash, just saw their purchasing power diminish substantially.  DNotes has had some ups and downs, like any new investment starting out, but as a long term store of value, to date it has been the best I have ever seen.  I stand by my previous prediction that DNotes will be the best performing investment of the decade!

"Uninsured against theft or loss"  -  DNotes has done what no other currency has by offering a guarantee fund for all deposits at DNotes Vault.  Their policy "do what others can't or won't" will be key to DNotes success.



The push for the exchanges is what every other coin has done, but none of them have made the effort to reach outside of the current crypto community where true success lies.  

Very well put together list, in general, the crypto community is well represented by the factors you described. I believe your awareness of the challenges you listed is also the reason why you chose to invest in DNotes. The team has worked on, and continues to work on projects that improve (this) crypto's reputation in breaking through all the limitations and current industry inadequacies you have mentioned.

I do agree that right now the easiest way to drum up (short-term) interest would be to encourage wide trading ranges and lots of extra liquidity, but I think that would be counter-productive to DNotes longer-term mission to be an acceptable stable store of wealth, and transfer of value. It is going to take a few years. DNotes will outgrow the competition, and the industry as a whole will also continue to grow. Until that time, crypto will be mostly a niche speculative tool. It's my thinking that the team released the currency a year ago to get the track record of stability in place before big infrastructural components for transactional services were developed - their goal the entire time.

A quick analysis of how this industry has worked so far with innovative, excessively promoted coins would yield that it made no sense to release the currency with fully developed applications at once while claiming that you were the most stable crypto in the industry - nobody would believe you without a reference chart to point at. Whales at the exchanges might have had their way, drawing speculative value from the flash websites, completed applications combined with the teams claims. Traders trick buyers into thinking that price rises are in accordance with the currency's true value, before selling up and crashing the currency like clockwork.

This way, with a slow but agile development process, DNotes has been able to 'fly under the radar' without drumming up unwanted pre-mature excitement. This protected it's value in the nascent stages, ensuring price stability. That execution meant that DNotes now has a very stable one year chart to show potential partners who may invest in, develop for, or provide services to DNotes' future requirements. That said, it's a free-market, and sooner or later that liquidity is going to be tested in line with the development teams achievements and formed relationships.

The next couple years will be very exciting for the industry. When the buzzword is "trust", it pays to take your time and get it right, lest you lose it.

Hi Mochillies. Thank you for listing some very important points. It is quite apparent that our industry has been struggling to gain traction. There are many reasons that have caused such setback. Due to my time constraints, I will generalize my comments rather than trying to be specific. I will be happy to answer any questions, one at a time if asked.

Success in business is often about one’s ability to objectively identify problems with the skill-sets to solve those problems. If done correctly, the larger and more complex the problem, the larger the payoff to the party capable of solving those problems. Being complex typically means that many people may attempt to give it a shot but failed due to poor execution of their plans or because they  have grossly underestimated the complexities and unforeseeable challenges. Essentially these explain a lot about the current state of affairs of our industry. The number of failed, or failing ventures, are significantly higher than any I have witnessed in my 40+ years as an entrepreneur. Typically, business failure rate is about 30% by the end of the second year. We may be seeing 80% or higher failure in our industry.

However, as I mentioned in my blog post yesterday, “it is very important to clearly understand that there are two segments to this technology revolution. On one side, is Bitcoin - the digital currency where it is struggling. On the other side is the Blockchain Technology - that is thriving and will continue to see explosive growth.

Having said that let me briefly response to one of the issues on your list and let others address the rest of them:

1.   Almost impossible to understand and use for anyone that isn't a techie;

That is absolutely correct. I have even come across highly educated techie who still has the same problem. We are making every attempt to make things as easy and comfortable as possible as reflected in the launching of DNotesVault. The total solution will take years to fully implement. For example, it is very complicated for someone new to purchase their initial first batch of DNotes. In due time, we will have our own registered and licensed DNotes dedicated exchange wholly owned by us or in partnership with others. Even with that one still needs to make the decision of saving on a regular basis and physically do a few things to make that happened. The long term solution is to get the regulatory blessings where the targeted amount is deduct from payroll and deposited in the DNotesVault account of the saver and the amount is tax deferred, just like any 401K or IRA.

Someone else can continue from here, even if you want to comment on just one or more of the issues listed.

To be fair, it's because crypto in general is:

1. Almost impossible to understand and use for anyone that isn't a techie;
2. Accepted basically nowhere without cumbersome third party intervention;
3. Too volatile to be used as a store of value;
4. Uninsured against theft or loss;
5. Not sufficiently superior to established systems at anything other than a) instantaneous international transfer (not useful in 99.9% of transactions to everyday folk), b) low-fee transfer of huge volumes of wealth (not useful to 99.9% of everyday folk; also see point 3 above).

Right now crypto is a very poorly implemented solution looking for a problem to solve for everyday people. Until that happens (if ever) it will remain a niche speculative interest.

“The ability to buy and sell something as a means to make money is the only route to awareness at this time.”

tl;dr:

with respect, I disagree. The failure of crypto communities to shunt their coins from the speculative-currency phase to the ‘transactional-volume’ phase has been a tragedy. There are $4 Billions ‘inside.’ There are $74,000 Billions ‘outside.’

Mark (IndiaMikeZulu), Australia

Hi Cosmic HQ. Thanks for visiting. I am glad you understand that as much as we help to manage DNotes as a business, no one controls DNotes as a business. I was just reminded by an email someone sent to me from Hong Kong saying that they have been trading DNotes in a Number of Exchanges that I have never heard of. Bitcoin did not build their ecosystem or provide them the funding. When there is money to be made all kinds of people will want to take the chances. Our job is to build the most important part of the infrastructure and others will continue as long as they believe that there is good money to be made.

I have been getting emails all day long from people all over the world taking a very serious look at DNotes. It is not an over statement to say that DNotes is becoming the rising star. Once we are at the next level a lot of things we had wished for will become a reality. The Chicago meeting has been confirmed to be held on Tuesday May 12, 2015. At least from my world, things are moving fast and furious. The last thing I need to worry about is getting listed on Cryptsy, but out community should any efforts to do so.

Oops. 5 more emails just came in during the time it took me to write this post. About 8 minutes. I no longer have tome to even edit.

Take care. Will drop in again when I have a chance.

Yeah I will keep you updated and refreshed about what is going on with Cosmic HQ because I know what we are doing now and what will be happening in the future will be of interest to you from the point of view that it will be a contact point for you to exert your own goals

You are correct kanus1113, micro transactions is an area where digital currency can excel and it will be an important step in DNotes evolution.

If anyone has been thinking about setting up a retirement account at the DNotesVault, the next round of interest payments is coming up soon.

There are currently 147 funded retirement accounts at the vault...
https://dnotesvault.com/crisp-for-retirement.php

The first step in true merchant adoption could be in the form of micro transactions. Tools that make it easy to sell digital products easily and without burdensome fees. We've discussed micro transactions and the impact before, but in regards to DNotes evolution it seems like an important step.

It seems as though the fate of digital currency in the US is in the hands of New York's BitLicense. North Carolina is on the right track though.

What bitcoin businesses most fear right now

There is big pressure on New York because it is the first state to launch its own set of regulations specific to digital currency. The only other states even working on such policy right now, said Jerry Brito of Coin Center, are California, Pennsylvania, and New Jersey. Most other states are expected to simply copy what New York does, and so, if New York comes out the gate with something too strict, it runs the risk of losing innovative bitcoin companies to other states that are less tough. Wilson went so far as to say that New York could lose “the next Wall Street” to Silicon Valley, or Estonia, or North Carolina. (That state introduced last month a new version of its Money Transmitters Act that has looser guidelines and, most notably, does not create a whole second set of rules for digital currency businesses to follow; companies like Coinbase have praised the legislation.)

https://fortune.com/2015/04/28/bitcoin-businesses-fear-regulation-bitlicense/

What Is the BitLicense?
http://nyneedsbitcoin.com/what-is-bitlicense/

Hi Mochilles, good to see you again. There have been a lot of great replies already. We are certainly not typical and may not attract the majority in the crypto community, that is ok. We do need to keep reaching out to find community members who are interested in what DNotes has to offer.

Hi Mochilles, good to see you. We do support getting DNotes listed on Cryptsy. It took them almost a year with many strong appeals before they put us on their voting list; a little odd to me. We have the same issue with Bittrex. I know you have been a very strong supporter of DNotes. We are in a significantly stronger position today than any other days before. It will be a very good thing if you and our community could lead a sustained campaign to get DNotes listed on Cryptsy.  While we are on the subject of being listed on more exchanges, we might as well give Bittrex another shot. You will have my support for that. We may even want approach a couple of exchanges outside of the United States.

We are positioning DNotes for rapid growth starting next year. Behind the scene, a great deal of work is being done but not appropriate to disclose other than some general hints here and there. Personally I have been putting in no less that 14 hour a day, 7 days a week for the entire month of April. We are developing worldwide connections, everyday. Strategic executions are hard to measure when they are still in progress. What I can tell you is that, by January 2016, we will have a lot more stakeholders outside of the United States and a lot closer to CoinMarketCap top 10.

As I mentioned a number of times, I am working on multiple projects, and will not have as much time to post on this forum. However, anytime when I noticed that this forum is dead quiet, I would drop everything else I was working to make a post.

Lastly, I do strongly believe that being well read and deeply informed about what is going on in our industry is essential. I used to leave other issues that were not directly related to DNotes alone. We should be very proud of the fact that more people are taking notice of DNotes with admiration, and the words trust, integrity, and respect are beginning to show up in published articles and blog posts. There are also signs that some are turning our way for leadership. DNotes is not only on track but we have already shifted to a higher gear. Those who are selling DNotes at the current price and hope to buy them back at a lower price may soon end up owning less DNotes than if they had done nothing. But, of course, this is a free market. I am all in, but it does not mean you should. We always suggest that you should not invest any more that 10% of your total portfolio or only money you can afford to loose, in case of a total loss.

Forgive me but, I have to disagree with you. The state of the industry, in general, is just as important as DNotes development if not more. After all is said and done, DNotes is, and will be for some time, part of the bigger picture that is crypto in general. The health of the industry greatly affects DNotes in this early stage of development. I think you will notice that we are moving towards being able to stand alone but, that is still some time off. Also, we don't want to make the same mistakes others are making. Discussing those mistakes, and triumphs, makes us stronger.

Unlike most other coins, DNotes has a long term plan that is being followed point by point by the developers and founders who are seasoned business men already. As far as Cryptsy is concerned, yes, that would help but, it is not the do all, end all move that will get DNotes in the public eye. We are moving to make that happen with or without Cryptsy. Check out all the dying or worthless coins on Cryptsy. We should already be in their voting list so, if you want Cryptsy, vote, vote, and vote some more. Personally, I don't think it is that important but, I'm sure it would help some.

And the last point, pushing a project too fast will result in it's ultimate failure. I have learned this in business and have seen it happen numerous times.

Just my 2 cents worth...

Thank you for the comments Mochilles.

I think the links are very educational and relevant to DNotes, they are posted to highlight the development, growth and new ideas in the overall industry. Industry growth is good news for DNotes, since it means a wider 'in-the-know' audience that will readily accept DNotes on it's mission to be the preferred Digital Currency used for global payments, according to it's strategic mission and timeline. The other links that show stories about fund managers being unable to withdraw funds from a negative interest bearing account, the bank and regulatory authorities war on cash et al, are all important reading. These links highlight what I hope you do not consider a 'quasi-delusional libertarian dream' - where decentralized control of money is a foreseeable, and desirable goal for the future.


I don't personally know the ins and outs of DNotes strategic plan, I just retrospectively speculate given what I have seen in the hope others may find the thoughts useful whether they're accepted or not. If DNotes achieves it's stated mission to become the preferred Digital Currency for global payments with everyday consumers, then I would contend that the popular adoption of a currency completely in the control of it's users would be a pre-requisite! This outcome is popular with people from many ideological backgrounds.


I also think that at some stage, getting onto cryptsy will be very important. I don't know if the addition of DNotes to Cryptsy would increase liquidity by itself (and it well may AND bring more forum contributors), but what I do know is that DNotes has not positioned itself to be another 'pump and dump' coin for a quick return in dollars. The way I see it, is no long-term value can be derived from a coin that is purely a speculative tool. Given DNotes goals to be used for payments, stability and underlying infrastructure are paramount. That said, DNotes considers itself a long-term appreciating asset that will continue to rise while competitors fade. The DNotes team has looked at other crypto and seen that their strategies are inadequate - they're good for making a few trades, but none look like becoming a successful global payments medium. Why should DNotes follow?

Cryptsy is going to happen. Relationships with key players via linkedin, development work and the continued track-record as the most reliably appreciating, stable digital currency is the first priority.


A year ago I would have probably agreed, but I think this highlights an interesting difference in view that may come down to our long-term outlook on crypto's success. Price movements bring a lot of attention now, but a stable currency fit for global payments will bring infinitely more attention in the future. The former presumes that crypto is a tool to be later swapped back to dollars for profit, the latter opens the possibility that crypto will one day be accepted everywhere, and you'll mostly no longer need to use dollars again. The latter option, if successful, will mean returns on investment many times what could ever be possible with the short term, speculative position.

These are just my thoughts, feel free to add yours. You can comment and help steer the forum towards discussions about content and ideas useful to you.

What continues to bother me is that the price of Bitcoin is NOT low, it is actually amazingly high! Using the late 2013 price of 1200.00 USD +/- is wrong, that price was artificial being caused mostly by Bot trading at Mt Gox. It was artificial and therefore not sustainable. Think about it, a single Bitcoin is worth more than an once of silver, over 200 times more that the US Dollar, Euro and any other currency now being used. Only the top 6 or 7 precious metals are worth more.

We are looking at this in the wrong way. It's actually amazing how MUCH a Bitcoin is worth, not how low the price is! 

Forgive me if this is out of place, but this thread seems to have forgotten all about DNotes development and instead is just posting news about crypto in general (and various quasi-delusional libertarian dreams of the future). Could we perhaps.... get back to the point?

TeeGee asked a few pages back:


The best way to get any participation period is to position the coin as a worthwhile and accessible speculation instrument. Whether you philosophically believe this or not, in crypto it's true. The ability to buy and sell something as a means to make money is the only route to awareness at this time.

So what is the most important short-term goal to achieve? Getting NOTE listed on Cryptsy. Until that happens, very little in the way of adoption or awareness will happen. Sure, you say - we're taking it slow. Well, I guess there's three speeds: slow, dead slow, and stop.

Pushing the listing of the coin on a major exchange will do a thousand times more for usage and interest than any marketing campaign, than any development work, than any linkedin posts..

Cryptsy needs to be our number one target above all else if this innovative coin is going to go anywhere.

Breaking News:

This will be an interesting one to watch. How long would it take to get SEC approval before the IPO? What kind of push back can we expect from investment banking firms? How many more “me too” will be lining up and how soon? Do we even need any more CFP (Certified Financial Planner) or someone we can trust with our hard earned money?

I can fill this page with many more questions, but I rather not, and only wished that we all can learn from history. May be just a short period of that: Bitcoin Industry December 2013 to April 2015;

Titled “Damages Caused By A Trustless Decentralized System With No One To Trust”

“a new kind of stock intended to remake the stock market in much the same way the bitcoin digital currency remade our money system”.

Really? Interesting!



http://HTTP://WWW.WIRED.COM/2015/04/OVERSTOCK-FILES-OFFER-STOCK-WORKS-LIKE-BITCOIN/
•   
•   CADE METZ
 
•   04.27.15 12:31 PM



OVERSTOCK.COM IS ONEstep closer to offering a new kind of stock intended to remake the stock market in much the same way the bitcoin digital currency remade our money system.

On Friday, the Salt Lake City-based online retailer filed a prospectus with the Securities and Exchange Commission that indicates it may issue up to $500 million in stock or other securities using technology akin to the online software system that underpins bitcoin. “We may decide to offer securities as digital securities…the ownership and transfer of which are recorded on a cryptographically-secured distributed ledger system using technology similar to (or the same as) the distributed ledger technology used for trading digital currencies,” the filing reads.

This past summer, Overstock’s free-thinking CEO, Patrick Byrne, said that the company was hoping to issue a “cryptosecurity” using bitcoin-like technology, and he hired both the developers and the lawyers needed to do so. Now, he and his company have taken the idea to government regulators. As Byrne puts it, he’s calling on the SEC to “sprinkle holy water” on his push towards digital securities. “This is a decision point for the establishment,” he says.

Byrne hopes to offer stock that's controlled not by a central stock exchange such as the NYSE or the NASDAQ, but by a network of machines spread across the internet.

Basically, Byrne hopes to offer stock that’s controlled not by a central stock exchange such as the NYSE or the NASDAQ, but by a network of machines spread across the internet—machines outside the control of any one central authority. Using cryptographic algorithms, these machines would mathematically verify all trades and record them in an online ledger that anyone could examine at any time, much as the worldwide bitcoin network verifies and records the exchange of money. Byrne and Overstock have long complained of loop holes in our existing stock markets, and he believes that technology can help shore up these holes.

“The prospect of using a blockchain-like public ledger to hold securities or other assets is quite exciting and one that should be explored,” says James Angel, a professor of finance at Georgetown University who specializes in the details of the U.S. financial system. “This will make a great test case as to whether it really works or whether it will suffer Mt. Gox-like problems.” Mt. Gox is the popular bitcoin exchange that descended into bankruptcy after hackers broke into its online system and eventually made off with the equivalent of $460 million in bitcoin.

A Free Market
Last year, Overstock became the first major online retailer to accept payments in bitcoin. Like so many others, Byrne argues that the digital currency can free our economy from the grip of big banks and big government. Now, he’s bringing this same attitude to stocks. His project is just one of many that seek remake the stock market using bitcoin technology, such as NXT, Mastercoin, Bitshares, and Counterparty. At one point, Overstock hired some of the primary developers behind Counterparty, but these engineers have since left the company.

On Friday, Overstock filed what is called a “shelf registration.” Basically, this would allow the company to sell any kind of security—common stock, preferred, debt, warrants, etc.—if and when it chooses to. Such filings are not uncommon–though this one is unusual in that it says the company could issue the securities in digital form.

According to Overstock’s filing, the company would offer its digital security through what’s called analternative trading system, or ATS. This is essentially a stock market alternative that must be registered with the SEC. Overstock would have to make arrangements with an existing ATS or somehow create a new one. It must also answer any SEC objections from the SEC.

Georgetown’s Angel expects the SEC to approve the filing, but he says this may take a while. “The SEC staff in corporate finance is notoriously risk averse when it comes to new technology, so they may delay things for a long while and request lots of additional disclosures,” he says. “[But] the parade of horribles in the disclosure is very complete, so I would think that it would get approved eventually.”

Angel adds, however, that if Overstock does offer a digital security, he expects few investors to take advantage of it—at least initially. “My own prediction is that initially very few shareholders will choose to hold their shares in digital form because of the technological uncertainty. Investors tend to be very risk averse about things such as custody,” he says. To succeed, he says, such an offering must have proper regulatory oversight by the SEC and carry insurance from an organization such as the SIPC.

The SEC declined to comment on Overstock’s filing. But according to Byrne and company spokesperson Judd Bagley, Overstock expects the SEC to open a review of the filing. Byrne has an unusually combative history with the SEC, but he says that he intends to take a more diplomatic route towards a cryptosecurity. Of the filing, he says: “I wouldn’t have taken all the time and trouble and expense to do this if I didn’t plan on using it someday soon.”

Perhaps some of our available community members could come up with a design.