Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 346. (Read 814568 times)

You are correct. We need to step up our efforts to educate others when we can.That includes our political leaders. Just haven't figure out the most effective way to do that. If DNotes can win over the mainstream media and becomes a media sensation, that could be the key. I am working on it. Our family of CR.I.S.Ps. could very well be the driver, because it is very broadbase and potentially very far reaching. Let's give it our very best. By the way, I will start working with our PR soon on the Press Release for CR.I.S.P. For Retirement scheduled for the week of Feb. 16, 2015.

McDonalds accepting Bitcoin? Interesting but I am not ready to bet my money on that. ApplePay is more likely.  

This is one rare time I would outright disagree with Bill Gates.

Point #1:
If you allow "chargebacks", then it is NOT a currency. If you make any crypto-currency reversable, then that currency IS NOT currency. It is NOT money. It becomes another "form of payment" needing a "trusted third party".

Point #2:
If a bitcoin transaction can be reversed, the extra anonymity inherent to blockchain transactions would make it ALMOST impossible to know WHO reversed the transaction. (I say ALMOST impossible, because the blockchain is really totally transparent, so it is not impossible, but tracking down a single transaction, especially if that transaction [darkcoin stuff] is intentionally made hard to track would make it impossible for almost all Merchants). In other words, from a merchant's point of view (and I am an experienced merchant with income that is about 75% credit card, 20% PayPal, and less than 5% checks and cash), I would NEVER take crypto-currency that could have that kind of risk exposure. Credit Cards and PayPal are bad enough for chargebacks. I could not imagine trying to track and identify a "chargeback" of crypto-currency.   

Summary:
Irreversable transactions are part of the very fabric of what makes crypto-currency crypto-currency. Take that fundamental rule away, it is no longer money. It is a form of payment, needing a "trusted" third party. That fact, by definition, means it is NOT crypto-currency, and NOT money. 

Just my two cents worth.....
Smokey

I agree, not being able to reverse the transaction is a great feature. I think it's mostly fishy merchants are having a problem with it and. of course, credit card companies who are attempting to scare the public into thinking they could never get a refund for a mistake. While this MAY be true in person to person (stranger to stranger) transactions, any respectable merchant will manually issue a refund for a problem.

We really need to educate the public that refunds are possible and it is desirable for merchants to issue them when needed as any honest seller would. This is the time of lies and half truths, every group has an agenda, some good, some bad and many are willing to say anything to push it. Educate, educate, educate...


Speaking of merchants, rumor has it that McDonalds MAY start accepting Bitcoin. As I said, rumor but, it's certainly possible. See this article:

http://bitcoinist.net/mcdonalds-might-start-accepting-bitcoin-soon/

What do you want to bet it's ApplePay but the spokesman doesn't understand the difference?

This is my take and I will try to make it brief. The irreversible feature of Bitcoin is an important security component and a great selling point to merchants. Legitimate merchants stand by their products and services they sell. Buyers have full recourse to a refund of their payments, if they so demand, within some reasonable scope of limitations, either directly or through the court of laws. I do not see this as an added risk exposure to the consumers, but a significant protection for merchants.

Reversible payments will drastically increase merchants’ risk exposure and a huge deterrent to mass merchant adoption. Anonymity, with the exception of certain merchants, is also a deterrent to mass adoption.

Unfortunately, I am having a very busy day and do not have the time to elaborate this further. I will conclude that in the absence of the irreversible feature and a required true anonymity for DNotes my optimism for the success of DNotes would be severely degraded. That is how strongly I feel about these two functions of Bitcoin as a digital currency technology.

What are the most compelling arguments for needing such a feature?

Edit:
It seems to me that reversing a transaction is a function of credit companies, payment processing companies, and banking institutions. All of which will likely exist in the cryptocurrency world. It is not an inherit feature or function of the money itself.

Here's something I would like to hear some comments on. I initially posted this in the Digibyte forum since they were discussing the issue but, I would like to see what everyone here thinks:

"I'm hearing a lot of noise about Bitcoin's "flaw" regarding non reversible transactions. This is both a good and bad feature in the protocol depending on what the transaction is for. Perhaps, a solution would be to change the code so the transaction IS reversible for some period of time or, until the receiving party physically accepts it. Thoughts?"

Seems this is one of the holdups for mass adoption although most of that noise is coming from the established money/credit providers. Do you agree?

I got lucky, "your mileage my vary"...  Trust me when I say they were not always angels, especially the girls but, you have to stick to your guns...  

That is what I call a near perfect family that anyone will be proud of. I always leave some room for improvements. Great job, RJF. We all have a lot to learn from you, and I am sure from each others too.

I am very proud of them. Oldest son is a regional manager for a national hardware chain, second oldest son is a Merchant Marine Master (ship's captain), oldest daughter graduating from UMD and headed to law school and youngest daughter is a "horse whisperer" with Olympic ambitions in Dressage Riding and working on her BS. I better mention their mother lest I get myself in trouble, she is a licensed OB, NICU nurse educator, Paramedic with a MS in Education and Distance Learning and BS in Theoretical Mathematics.

So, as you can see, my family is busy and I'm very proud of them. One thing I can tell that I learned through the years as a father is simply this: Don't be afraid to say "NO" and don't do things for them, teach them how to do it themselves and, be fair but be strong. Seems to work...
 

DNotes’ core mission is to be the currency of the future and the currency of choice in conducting global commerce. This mission has been echoed repeatedly in this forum from the very beginning pages. To accomplish our core mission, we must consistently build a solid foundation with a solid growth path projecting way into the future, deliberately involving and engaging our future generations. It must be built upon a mindset of wanting to be the best in class, doing things that others won't or can't do and guided by the highest respect for trust and integrity as an integral part the DNotes' culture, philosophies and believe system. This will create the most favorable environment for DNotes to thrive and continue to be the most stable digital currency with reliable long term appreciation. I am certain that is the currency Bill Gates had in mind.

We have plenty of hard work ahead. We are not yet ready to go prime time and rather not sell ourselves short by selling early. DNotes will be discovered. This is the phrase of positioning so that once discovered we have the infrastructure to scale up quickly. Every CR.I.S.P. is a giant by itself. Grow and take each and every one of them all the way.  That is the answer to mass consumer and merchant adoption coupled with the ideal currency Bill Gates was thinking of. Without that currency our industry will continue to spin its wheels for a very long time. Neither our industry, nor DNotes is lacking in technologies. It is currency ...

Very interesting article, shows that DNotes is on the right track. Maybe Bill Gates can be the first big purchaser of Notes for charity?

Just had another session / gander at student finance situations and various strategies companies use to encourage brand loyalty. I'll be first to admit that I'm no fan of Apple, but damn they understand that the students buying their products today will be loyal customers in the future - as any seller should think if they believe in their product.

Could Bill Gates be suggesting that a digital currency that does not push for anonymity but instead focuses on building trust and stability may be the more ideal currency he has in mind?

DNotes is waiting to be discovered. Stay the course and we shall be found. No rush.


By:
Kate Knibbs
http://gizmodo.com/bill-gates-digital-currency-can-help-the-poor-but-not-1682346647


Bill Gates has high hopes for digital currency as an important banking tool for the poor. But Bitcoin isn't one of those currencies, he said in a Reddit AMA today. At least not in its current form.  ……………

"We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.”

Congratulations Marc, it's great to have you here at DNotes!   

                           

You guys are doing great. I think I can take the rest of the night off. What a team!

Yes, I agree. There is nothing that we as a team cannot accomplish. Make goals, set ours sights on them, accomplish them, repeat. With different minds comes different strengths which we need to accomplish any and all goals!

3rd reply in a row, might be seen as a spammer (really got to learn to insert peoples quotes into one message) BUT - I really like the awesome work we are seeing RJF!

I had one of these jotted down so far under my "possible marketing slogans" for the student plan, it was "Decrypt your future with crypto" or something similar. The ones I just read above for retirement roll of the tongue very nicely.

I imagine you must be very proud of your children RJF if they took the honor / respect / self sufficiency lesson on board. I recall a long time ago similar messages to bring on success from a book my dad bought me when I was perhaps 21 called "the winners bible" by a neuroscientist called "Dr Kerry Spackman" (not sure if it was a rude gift for a birthday or not?)

From wikipedia - "Spackman has been a consultant to four Formula One teams as well as the New Zealand All Blacks specialising in performance optimisation[2] and he is a director of the New Zealand Government GoldMine program which develops specialized electronics and mathematical analysis for Olympic athletes." - I'm also pretty sure he was a mental coach to Schwarzeneggar and Michael Schumacher.

A couple of the things that I can recall from the book were 1. The importance of visualising your desired future outcome to tacitly rewire your brain to work towards said goal, and 2. That success is often accompanied by 'unshakable belief' in your capability to reach the desired goal. In this nascent crypto industry, the crown is there for the taking to the best player, with the strongest vision and 'unshakable belief'. I'm pretty sure those visions and belief exist within this community.

It's all very exciting.

Great news! Glad to hear you accepted the position.

All,

I am very glad to be aboard. And Ha, I should have made a great comment about working at DynaLabs. That IS very funny!!! Thank you all.

Marc

What an AWESOME find guys! Really excited to hear what comes from that e-mail you sent DYNA.

Congratulations Marc! Great to have you on board.

I like that you had worked at "DYNAlabs", made me giggle