According to this, Mintpal will still operate as a separate business. The question is, will they recover from this fiasco?
"Moolah Announces Bankruptcy Plan, MintPal Transition Amid Money Crisis"
http://www.coindesk.com/moolah-mintpal-closure-bankruptcy/
Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 401. (Read 814565 times)
October 15, 2014, 07:26:03 AM
October 15, 2014, 02:49:28 AM
Yes, the implementation of Mintpal was extremely poor.
When you already have a launched product that is servicing customers, it may have made more sense for them to use an agile implementation for their Information System. The main advantage I see is that they would have had a launchable product at the end of each tested stage. This ensures bugs are caught and eliminated in the development cycle, and the product is double tested again after the first bug elimination.
The v2 was plagued with problems. I'm glad to see that Dnotes is clearly aware of such shortcomings of many other entities that have tried to grow too fast and made key errors in the process. The new UI was rubbish, and nobody was happy being unable to trade and withdraw for several days while the Moopay people sorted out all the bugs.
That said, It is sad to see them go. I liked the look of their payment API and store fronts on their website through which you could run an online shop.
When you already have a launched product that is servicing customers, it may have made more sense for them to use an agile implementation for their Information System. The main advantage I see is that they would have had a launchable product at the end of each tested stage. This ensures bugs are caught and eliminated in the development cycle, and the product is double tested again after the first bug elimination.
The v2 was plagued with problems. I'm glad to see that Dnotes is clearly aware of such shortcomings of many other entities that have tried to grow too fast and made key errors in the process. The new UI was rubbish, and nobody was happy being unable to trade and withdraw for several days while the Moopay people sorted out all the bugs.
That said, It is sad to see them go. I liked the look of their payment API and store fronts on their website through which you could run an online shop.
October 14, 2014, 09:01:47 PM
i think if not close forever,,, take his time to reopen.
Hopefully not, I haven't been able to withdraw my coins yet.
October 14, 2014, 08:58:44 PM
October 14, 2014, 08:35:36 PM
What's the next big thing for DNotes? Launching the CR.I.S.P.?
Yes, the CR.I.S.P. programs are our top priority at the moment. We are working on creating a way to make it much easier to get started. It is quite difficult for the average person, with minimal technical knowledge, to feel comfortable creating a securing a wallet for long term storage.
I've only invested small amounts as I wasn't sure how to keep my coins safe.
October 14, 2014, 07:57:51 PM
i think if not close forever,,, take his time to reopen.
October 14, 2014, 07:49:11 PM
It's a tough industry and quite troubling to see so many struggling investors being hurt everyday.
Guess Moolah is gone.
https://www.cryptocoinsnews.com/mintpal-shutdown-moopay-bankruptcy-prompts-bitcoin-foundations-brock-pierce-reach-out/
MINTPAL SHUTDOWN; MOOPAY BANKRUPTCY PROMPTS BITCOIN FOUNDATION’S BROCK PIERCE TO REACH OUT
October 14, 2014, 06:52:29 PM
Here's what Moolah has to say on Twitter:
38 minutes ago
As there appears to be some confusion - we just want to clarify that @MintPalExchange is not closing.
2 hours ago
All consumer funds on moolah.io are safe, we are perfectly solvent on that front. You can withdraw as per normal.
2 hours ago
Management of MintPal is being handed off to another entity, Moopay LTD does not own the exchange.
2 hours ago
From a consumer funds perspective, we are entirely solvent. We no longer have the company reserves to continue operation however.
2 hours ago
Moolah is having to close its doors. So long and thanks for all the fish. http://blog.moolah.io/2014/10/14/moolah-is-having-to-close-its-doors/ …
2 hours ago
MintPal has been taken down immediately due to a critical bug being discovered.
Here's what I have to say: grrr! #&*#?@%!!
October 14, 2014, 06:46:57 PM
October 14, 2014, 06:46:36 PM
What's the next big thing for DNotes? Launching the CR.I.S.P.?
Yes, the CR.I.S.P. programs are our top priority at the moment. We are working on creating a way to make it much easier to get started. It is quite difficult for the average person, with minimal technical knowledge, to feel comfortable creating a securing a wallet for long term storage.
October 14, 2014, 06:35:37 PM
mintpal ---- closed
October 14, 2014, 05:42:01 PM
What's the next big thing for DNotes? Launching the CR.I.S.P.?
October 14, 2014, 07:19:50 AM
I have never thought that Australia will be the country to approve the first publicly traded Bitcoin company. Being mostly a Bitcoin mining company makes it much easier to meet regulatory requirements and reporting. Since they will have a huge economy of scale, smaller Bitcoin miners will be faced with more challenges to justify their investment of time and money.
This is a very significant new development and is good for the industry.
BITCOIN GROUP’S IPO ON THE AUSTRALIAN STOCK EXCHANGE
Bitcoin Group is to be listed on the Australian Stock Exchange in mid-November, becoming the world’s first publically floated Bitcoin trading company. Following the positive guidance from the Australian Tax Office on the treatment of Digital Currencies, Bitcoin Group will be the first Bitcoin company on the Australian Stock Exchange, in the world’s first official Bitcoin IPO listing. No other Bitcoin company has been publically traded in Australia, or any global stock exchange.
Bitcoin Group’s earliest investor, self-made billionaire Mr. Gao made his fortunes manufacturing, supplying and fitting fire safety systems throughout major metropolitan cities in China. Cryptocurrency arbitrage fund Bitcoins Reserve have in motion to be the world’s first official Bitcoin IPO listing.
CEO of Bitcoins Reserve and Bitcoin Group Sam Lee said:
“Investors who participate in our 20 million dollar capital raising will capture a substantial share of what will be a Billion dollar-a-year industry. The main revenue model of Bitcoin Group is through “mining”, which is a process of verifying transactions between users, effectively acting as a clearing house.This work done is rewarded with newly unlocked Bitcoins that can then be sold for other currencies on the open market.”
“We manage risk through operating a vertically integrated mining business with the financial and strategic backing of all major players in the Bitcoin Mining industry. We believe we are well priced and positioned to help investors profit in what still is the most profitable segment within the Bitcoin ecosystem.”
“Over the next two years, the system is set to issue 1.3 Million bitcoins per year and at current market value ($446 AUD per Bitcoin) this is equivalent to a $580 million dollar per year opportunity.”
https://www.cryptocoinsnews.com/bitcoin-groups-ipo-australian-stock-exchange/
This is a very significant new development and is good for the industry.
BITCOIN GROUP’S IPO ON THE AUSTRALIAN STOCK EXCHANGE
Bitcoin Group is to be listed on the Australian Stock Exchange in mid-November, becoming the world’s first publically floated Bitcoin trading company. Following the positive guidance from the Australian Tax Office on the treatment of Digital Currencies, Bitcoin Group will be the first Bitcoin company on the Australian Stock Exchange, in the world’s first official Bitcoin IPO listing. No other Bitcoin company has been publically traded in Australia, or any global stock exchange.
Bitcoin Group’s earliest investor, self-made billionaire Mr. Gao made his fortunes manufacturing, supplying and fitting fire safety systems throughout major metropolitan cities in China. Cryptocurrency arbitrage fund Bitcoins Reserve have in motion to be the world’s first official Bitcoin IPO listing.
CEO of Bitcoins Reserve and Bitcoin Group Sam Lee said:
“Investors who participate in our 20 million dollar capital raising will capture a substantial share of what will be a Billion dollar-a-year industry. The main revenue model of Bitcoin Group is through “mining”, which is a process of verifying transactions between users, effectively acting as a clearing house.This work done is rewarded with newly unlocked Bitcoins that can then be sold for other currencies on the open market.”
“We manage risk through operating a vertically integrated mining business with the financial and strategic backing of all major players in the Bitcoin Mining industry. We believe we are well priced and positioned to help investors profit in what still is the most profitable segment within the Bitcoin ecosystem.”
“Over the next two years, the system is set to issue 1.3 Million bitcoins per year and at current market value ($446 AUD per Bitcoin) this is equivalent to a $580 million dollar per year opportunity.”
https://www.cryptocoinsnews.com/bitcoin-groups-ipo-australian-stock-exchange/
October 13, 2014, 06:46:46 PM
Happy Thanksgiving to all our Canadian DNotes stakeholders!
Happy thanksgiving to our Canadian supporters!
In the states this is my favorite holiday, it has always been relaxing and fun.
October 13, 2014, 06:29:52 PM
I do rather enjoy Niall Ferguson.
May I suggest watching his documentary series called 'the ascent of money', it has been a few years since I watched it, but there will likely be some good lessons covered related to digital currency.
http://www.youtube.com/watch?v=X1sjFHEl5GI&list=PLXm0UoZGic21MsomqqidESnaCuN4Sugoe
Happy Canadian thanks giving.
May I suggest watching his documentary series called 'the ascent of money', it has been a few years since I watched it, but there will likely be some good lessons covered related to digital currency.
http://www.youtube.com/watch?v=X1sjFHEl5GI&list=PLXm0UoZGic21MsomqqidESnaCuN4Sugoe
Happy Canadian thanks giving.
Thanks, TeeGee. Excellent recommendation. Quite lengthy but very well done.
October 13, 2014, 05:02:42 PM
I do rather enjoy Niall Ferguson.
May I suggest watching his documentary series called 'the ascent of money', it has been a few years since I watched it, but there will likely be some good lessons covered related to digital currency.
http://www.youtube.com/watch?v=X1sjFHEl5GI&list=PLXm0UoZGic21MsomqqidESnaCuN4Sugoe
Happy Canadian thanks giving.
May I suggest watching his documentary series called 'the ascent of money', it has been a few years since I watched it, but there will likely be some good lessons covered related to digital currency.
http://www.youtube.com/watch?v=X1sjFHEl5GI&list=PLXm0UoZGic21MsomqqidESnaCuN4Sugoe
Happy Canadian thanks giving.
October 13, 2014, 02:58:56 PM
Happy Thanksgiving to all our Canadian DNotes stakeholders!
Happy Thanksgiving to all our Canadian DNotes stakeholders and friends!!!
October 13, 2014, 01:33:30 PM
Well, top banker Jamie Dimon, CEO of JP Morgan Chase just made a very interesting statement …. “(Bitcoin developers) Are going to try to eat our lunch, and that’s fine……That’s called competition, and we’ll be competing.”
…… Dimon has made previous comments about Bitcoin, calling it “a terrible store of value” yet last year.
But what if there is Bitcoin like currency, such as DNotes, with an “excellent store of value.” Do you think the bankers will give us a little more respect?
We know that there are many challenges confronting our industry. As a whole it is too complex and confusing. It seems that most people of power and leadership position lack sufficient understanding of the technology and true usefulness of Bitcoin or digital currency.
DNotes must stay the course by keeping things simple and set our target on those that are not currently part of our industry. Our large family of CR.I.S.Ps. (Cryptocurrency Investment Saving Plans) are designed to do just that.
Read more:
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/
BANKING ELITE MEET IN WASHINGTON TO DISCUSS BITCOIN THREAT
The Institute of International Finance held its annual membership meeting in Washington this past weekend, and banking elite from all over the world convened to discuss many topics. The newest topic of discussion at this year’s meeting, one that had eluded them in previous years, was a threat to traditional banking embodied by Bitcoin and other crypto-currencies. What should banking “do” about a Bitcoin threat? What can they do about it?
How to handle the Bitcoin threat
Jamie Dimon is the CEO of JP Morgan Chase. JPMorgan Chase is the leading U.S. bank in domestic assets under management, market capitalization value, and traded stock value. JPMorgan Chase is the No. 1 credit card provider in the U.S.. Here is what he had to say about Bitcoin and its impact on the banking industry.
“(Bitcoin developers) Are going to try to eat our lunch, and that’s fine……That’s called competition, and we’ll be competing.”
Dimon has made previous comments about Bitcoin, calling it “a terrible store of value”.yet last year …….
……… Traditional banking has not found a way to extend credit or financial trade mechanisms to the “unbanked” over the last century. The numbers of which have grown to at least 2.5 Billion worldwide, according to the most recent numbers from The World Bank.”
…… Dimon has made previous comments about Bitcoin, calling it “a terrible store of value” yet last year.
But what if there is Bitcoin like currency, such as DNotes, with an “excellent store of value.” Do you think the bankers will give us a little more respect?
We know that there are many challenges confronting our industry. As a whole it is too complex and confusing. It seems that most people of power and leadership position lack sufficient understanding of the technology and true usefulness of Bitcoin or digital currency.
DNotes must stay the course by keeping things simple and set our target on those that are not currently part of our industry. Our large family of CR.I.S.Ps. (Cryptocurrency Investment Saving Plans) are designed to do just that.
Read more:
https://www.cryptocoinsnews.com/banking-elite-meet-washington-discuss-bitcoin-threat/
BANKING ELITE MEET IN WASHINGTON TO DISCUSS BITCOIN THREAT
The Institute of International Finance held its annual membership meeting in Washington this past weekend, and banking elite from all over the world convened to discuss many topics. The newest topic of discussion at this year’s meeting, one that had eluded them in previous years, was a threat to traditional banking embodied by Bitcoin and other crypto-currencies. What should banking “do” about a Bitcoin threat? What can they do about it?
How to handle the Bitcoin threat
Jamie Dimon is the CEO of JP Morgan Chase. JPMorgan Chase is the leading U.S. bank in domestic assets under management, market capitalization value, and traded stock value. JPMorgan Chase is the No. 1 credit card provider in the U.S.. Here is what he had to say about Bitcoin and its impact on the banking industry.
“(Bitcoin developers) Are going to try to eat our lunch, and that’s fine……That’s called competition, and we’ll be competing.”
Dimon has made previous comments about Bitcoin, calling it “a terrible store of value”.yet last year …….
……… Traditional banking has not found a way to extend credit or financial trade mechanisms to the “unbanked” over the last century. The numbers of which have grown to at least 2.5 Billion worldwide, according to the most recent numbers from The World Bank.”
October 13, 2014, 11:14:38 AM
Happy Thanksgiving to all our Canadian DNotes stakeholders!
same to you all the stakeholders.
October 13, 2014, 11:06:59 AM
Hey folks.. In case you weren't aware there was a Cryptocurrency conference in Vegas Recently...
Josh Garza of GAW miners was there and he posted a transcript of some points from his speech he made... Interesting points and such... If you are interested, you can take a look here..
https://hashtalk.org/topic/10264/ignore-them-and-innovate
Josh Garza of GAW miners was there and he posted a transcript of some points from his speech he made... Interesting points and such... If you are interested, you can take a look here..
https://hashtalk.org/topic/10264/ignore-them-and-innovate
While I'm no expert on the business model that is GAW, I do think the following thread is worth a look in:
https://bitcointalksearch.org/topic/gaw-zencloud-zenpool-hashlet-does-it-really-exist-always-make-money-720844
In particular, admitting that hashlets are merely virtual software sounds like a big ponzi scheme to me - "its financial instruments without regulation or transparency" according to a good friend of mine who was reselling GAW miners until he lost all faith in their business model and sold all of his substantial hashing power. Hopefully that person will come post here again soon about his experience.
Anyway, just wanting to check that all people have access to all information and potentially help out somebody in the process, that is all.
In regards to the article posted, I agree with most of its content, especially the part about Krugman being wrong about the interne. He has been smugly saying "I told you so" about Bitcoin and digital currency all the last month about it being some childish, libertarian fad. I think mass adoption is coming, and Dnotes is probably the first coin i've seen purposefully outline external community adoption as a main priority. I do digress though: For those who don't know, Paul Krugman is a Nobel Laureate who peddles economic theories that would find the logic in the following statement valid:
I have $50 and you have $0.
I pay you $50 to have lunch with me, your income is now $50.
You then pay me half or $25 of your $50 income to have lunch with you.
We can now spend $75 on lunch...
It is this precise reasoning that I consider much of mainstream economics a form of economic charlatanism.
Normally these theories are delivered to you via the news with reporters regurgitating the exact same logic above, albeit fancy dressed among fancy words like "aggregate demand", "circular flow" or the whole adage of "increased wages will mean higher demand, leading to growth boom!". This will often be accompanied by statements from economists that claim to not only understand, but predict the impossible - by mathematically modelling the evolving complexity of subjective human choices.
Maybe I'm missing something, I'm not at Paul Krugmans level after all. I can't wait til this website hits 1 million dollars:
http://krugmandebate.com/
The higher the value of the pot for this debate to occur, the more telling Krugman's silence will become. Oh dear, I went off topic! I think reading Krugman's name in that article really made my blood boil after having to read of his papers today to fill the blanks on a few hand ins. My apologies, life involves learning and reading much of what we don't necessarily agree with. I think I'll have to write a separate post tomorrow regarding the wider scope of the content in the article. I think the work at www.bitnation.co and all the blockchain 2.0 technology is going to be the most phenomenal revolution, and Dnotes is going to be very well poised to integrate into it.
There is some really great material and conference talks on youtube that I've been watching lately about the challenged digital currency faces with adoption. I plan to attend a conference in New Zealand at the end of November, where some real heavyweights like Jeff Berwick, Jeffrey Tucker and Andreas Antonopolous among others will be in attendance. I do plan on dishing out a few Dnotes to some of the famous faces there, perhaps even get a few placards / logos for them to hold for twitter posts etc!
http://nzconference.co.nz/bitcoinsouth2014/
Anyway, was hoping to get the thread rolling again. I think it's a great time to buy Dnotes. My dad recently purchased his first 100,000 and keeps talking about buying more.
I am not a fan of Krugman. He is certainly not a fan of digital currency. It is quite apparent that he has strong opinion against Bitcoin out of pure ignorance. The following articles reflect Krugaman’s standing quite well:
PAUL KRUGMAN IGNORANTLY CALLS BITCOIN “THE LONG CRYPTOCON”
“As presented in his 2013 New York Times OpEd, Krugman voiced the most valid of economic concerns surrounding Bitcoin’s longevity: its use as a store of value. Krugman feels that since Bitcoin can’t be turned into a necklace, its value is unreal. A quick glance at the Bitcoin price charts will inform you that Bitcoin has not done well as a store of value over the course of this year. In fact, since Krugman’s last article, the price has dropped significantly (a fact that Krugman was quick to point out in his most recent article). However, as time goes on, we are seeing that Bitcoin’s price is becoming more and more stable. Obviously, in this nascent state, Bitcoin is still volatile and will manifest its other monetary features (medium of exchange) prior to becoming a good store of value. While Krugman’s concern is valid and a welcomed sobering opinion to consider for Bitcoin enthusiasts that have zero economics training, calling Bitcoin a Long Cryptocon is one stretch too many.”
Read More:
https://www.cryptocoinsnews.com/paul-krugman-ignorantly-calls-bitcoin-long-cryptocon/
*****************************************
Forbes – 7-14-2014
Is Paul Krugman Leaving Princeton In Quiet Disgrace?
“…… Volcker is right. “The responsibility of any central bank is price stability.” Krugman is wrong.
Prof. Krugman was indicted and flogged publicly by Niall Ferguson. Krugman thereafter announced his departure from Princeton. On his way out Krugman, it appears, was reprimanded by Paul Volcker. Krugman has been a disgrace to Princeton. Is he leaving Princeton in quiet disgrace?”
Read more:
http://www.forbes.com/sites/ralphbenko/2014/07/14/is-paul-krugman-leaving-princeton-in-quiet-disgrace/
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