Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 360. (Read 814544 times)

Thanks, Chase. That is exactly correct. Let us just consider USA alone. Registrating with FinCEN may not take more the 30 minutes. Meeting their reporting and other regulatory requirements could cost close to DNotes Market Cap in just one year. Registration with all but two states takes years and another small fortune. My sense is that an exchange like Coinbase spends $ millions in meeting regulatory requirements per year.

We are looking at diffenent options. However, don't expect a simple solution any time soon. In a few years from now, we could have various ideal solutions, given a more favorable regulatory environment.

A website that takes USD and gives out DNotes?  That is everyone's dream!  You're right, it would be so much easier.  Unfortunately that would make that website a Money Service Business or Money Transmitter and subject to FinCEN registration and regulations.  It's pretty risky at this time when none of the regulations are very clear or consistent.

Also reading some previous posts, can there be a website that takes USD and gives out DNotes? Eliminate BTC altogether. This would make it much more appealing to some people, skip a step (no fees, etc.), and get away from the reliance on BTC price. I know this would be a HUGE step, but then could actually set own price and raise it slowly as more people buy. Still would be a supply and demand issue, but without relying on BTC for price or stability. IT is the way to go for future of cryptos IMO. Be the first coin to do this would also generate massive press and buy pressure. Just a thought. Any response, good or bad as I would like to hear it! Thanks.

Hey, that is nice to see, but what about from bitcoin to fiat? Just because that many BTC are going in doesn't mean that an equivalent amount of fiat is not coming back out or close. Good to see the money going in though.

That is not yet our target, but it does not mean that we ruled out the potential. An integral part of our business model is "advance and defend". This is almost foreign to our industry, with a preference to a fast and furious trip to the moon only to coming crushing down. We do not support an inflated price that we can not defend.

We consider steep appreciation not supported by fundamental values negative and not in the best interest of our long term stakeholders. We believe in doing all the right things and let the price of DNotes takes care of itself.

I agreed with you. That was an eye opener. Most people only see things in front of them. Relatively few people see things on a global scale. We are all fairly good in doing something, rarely many things, almost never everything.

When we can work well as a group, utilizing the strengths of each contributor, the accomplishment can be staggering, and if continued over time, it is unstoppable. It starts with one building block and continues with the next, each time with the same strength and consistency.

Here's the exchanges they monitor:  Bitstamp, BTCChina, OKcoin, Bitfinix, BTC-E, Bit2c, Mercado Bitcoin BR and Local Bitcoins.

Still fun to watch! 

That's just when I could say I made a difference, after that it's all gravy... Truth is, there is no practical limit to the value of one DNote. Also, we are basing the value on USD, something that is subject to change, perhaps great change, in the future. So, it's all conjecture at this point but, I agree with your sentiment 100%!

10 usd each is a very appealing number...  But if we want to take over the world payments system, we will need to take it to many thousands to have the supply of dnotes match the number of dollars in the world. I see 10 usd per micro-note being a more necessary number. DNotes strategic plan to rise to preemimece will require such a figure.

100 million dnotes in existence.
If everybody in the USA todsy today had some (350million), we would need a more divisible unit.
If every one of these household held merely $1000 of dnotes, the market cap would be 350 billion, and each DNote would be worth $3500.

It only took ten years or less til most households held personal computers and had the internet in home after the release of the first affordable personal computers.

Exciting stuff.

Wow, that is impressive. However, they don't pull data from some pretty significant exchanges, like coinbase, so it may be a bit skewed.

Here's a really interesting site if you want to watch, in real time, the flow of national currencies into Bitcoin. It's an eye opener...

http://fiatleak.com/

Thanks for that but, I will consider my part done when DNotes is worth 10 USD or more each... 

You have certainly done your part. We are always respectful of others, whether we agree with them or not. However, objective and accurate representations are unfortunately very much lacking in our industry.

We are all part of one large super system in the crypto space. Today's deteriorating price of Bitcoin is another reminder of that. The pain is shared industry-wide and not an easy thing to escape. Working together constructively is always our preference whenever there is a mutual interest to do so.

Agreed on all counts. I think the rep from CoinGecko was in general agreement, at least that's the feeling I got. Perhaps they will do a little "fine tuning" as we used to call it, and make that whole process more representative of the real world.

Thanks, RJF. That is a very healthy debate. A great coin should also provide the most prompt response time to any forum posts, PMs and other requests from their community and has the lowest incidents of support requests. That is indicative of a well oiled machine.

In addition the environment within their community must be positive, supportive and productive verses ……(You know what I mean.)

No problem, glad to be involved with this project. As far as branding, absolutely, keep it uniform.  On a previous note, below text is the conversation I had with CoinGecko on the Developer index issue:

Reads bottom to top


Hi Robert,


Yup you are right in your analysis.
You may publish this on the DNotes forum.


Regards,
Bobby


On Tue, Jan 13, 2015 at 10:51 PM, Bob Fehn wrote:

Bobby,
 
I would agree, in general, but there are exceptions as you have noted. I also see it the other way around. Many coins are struggling and their Devs are trying new features and making changes very often in the hope that "something" will work and the coin will catch on. I don't see this as a true representation of healthy activity, just activity. It's the healthy part I'm concerned with.
 
Thanks for getting back to me, means a lot. Do you mind if I publish this in the DNotes forum?
 
RJF

--------------------------------------------------------------------------------
From: Bobby CE Ong [mailto:[email protected]]
Sent: Tuesday, January 13, 2015 9:24 AM
To: RJF
Subject: Re: Index


Hi Robert,


You may have a point but what we have observed in the crypto community is that generally coins that have more development tend to be more active. We are certainly not saying DNotes is a dead coin - far from it! DNotes is actually doing reasonably on our rank.


Regards,
Bobby


On Tue, Jan 13, 2015 at 5:59 PM, Coin Gecko <[email protected]> wrote:

--------------------------------------------------------------------------------
From: RJF
To: [email protected]
Subject: Index
Date: Mon, 12 Jan 2015 10:27:54 -0500


Forgot to mention; your "developer" index seems flawed. If a coin is designed for a specific purpose, has no technical flaws and is running fine, why would the code need to be constantly updated? Having no new developments in code does not indicate a "Dead" coin, it can well indicate a well run, professional operation which, I admit is rare in crypto but, DNotes breaks the mold here. You might want to check them out in BCT and reevaluate their position.
 
Thanks for listening,

Thanks for accepting the leadership role to spearhead CR.I.S.P. for retirement. One day a lot of people will be most grateful to you and others for providing a supplement to their retirement savings, which most often are under funded.

Your proposed multi-step approach is a practical and smart move to avoid current legal hurdles. It is important that we characterize every CR.I.S.P. exactly in the same manner;

“This is an unstructured and self-directed plan, using DNotes as the investment vehicle. Re-occurring savings, in any amount, may be added at any time.”

It is also important that we direct those who are not currently setup to purchase Bitcoin in order to acquire DNotes, to the exchange/s that meet the highest standard needed to be in compliance of all regulatory requirements. Good business practices should also be an important consideration. Our top choice has been Coinbase. We may want to expand that to include a couple more.

We realize that the current process to acquire DNotes is cumbersome. However, it pays to take the most conservative route while we seek better alternatives. We strongly believe that within a few years CR.I.S.P. will become a recognized retirement savings plan with regulatory blessings and support. It will become too big to ignore.

We do wish to keep the name CR.I.S.P. For _____ consistent. It is an important branding issue, as well as to avoid potential confusing of name. Confusion often lead to different people calling the same program by different name. This is an important branding discipline.

There are a few projects in line before launching the CR.I.S.P. for Retirement program will be possible. Some on the backend of the vault, a few front end modifications, and researching the potential of a non-vault related project. That said, launching the CR.I.S.P. for Retirement program with some minimal features and expanding over time sounds like a great idea. Initially, here is what I would like to have available, providing there are no legal issues. Separate tab in the vault for retirement savings, with the ability to create retirement accounts, label them, and custom lockout transactions with timed release where you can select when and how to release the funds. Then we just need a write up for the CR.I.S.P. for Retirement explanation page. Let me know what you guys think.

Thank you guys!

I agree, it should stay as a simple, unstructured savings fund.  Using the word pension would cause a legal headache.  Since a person can use anything of value to supplement their retirement income, even the sale of their home, art, etc, buying DNotes (which is classified as an asset) for that purpose should be no problem.  Since the person sets the terms of their CR.I.S.P. regarding timed send payouts, they aren't signing up for anything that they aren't in control of.

Dyna wanted all the names of the programs to be similar so they would all be easily identified as belonging to the CR.I.S.P. family.  This  now has an added importance because the way the CR.I.S.P. (Cryptocurrency Investment Savings Plan) for Retirement reads, is that it is simply a way to save for retirement.  Good call.

I have no doubt that years down the road, it will be part of a registered, regulated pension fund.  That's a headache for another day!


p.s.  On behalf of the community, thank you for taking the lead on this!