Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 403. (Read 814565 times)

Hey guys, It's been a while since I posted any updates.  Below are the Charitable earnings collected from the users mining at CharityMiningPools.  All Donations have gone to the BitGive Foundation and the Water Project.  You can check our Fund Raising page at https://thewaterproject.org/community/profile/charityminingpools.  

Anyone interested in donating a small portion to charity while mining please visit https://note.charityminingpools.com and create an account at our MPOS based Mining Pool.

Total Donations Raised and Donated to the BitGive Foundation and The Water Project: 0.34538877 BTC

September: 351 NOTE (0.00198613 BTC) To The Water Project
TX ID: d1b00464b5b9f7bf419b25a7db8d8e2464744386df6346d8fbe30ae8c3ae5007

August: 217 NOTE (0.00208255 BTC) To The Water Project
TX ID: a98edd1e2f556ce5191ef8ebb1bfdd15d03552752259cb8b5f39d4a398c9bdb7

July: 254 NOTE (0.00351743 BTC) To The Water Project
TX ID: 6b465f6a33b5de1be212bb7a75a4bba9ac374f45ba5ea7c18f5ed983481fb2cf

June: 3,443 NOTE (0.01205050 BTC) To BitGive Foundation
TX ID: bb591dfc563cf24f6e7dc506ab0bc867a4afa7cd16b0c865a7f8a46af42366f7

May: 74,361 NOTE (0.14500395 BTC) To BitGive Foundation
TX ID: 51726c3611fcd32d62d7dd744e2d06099aa89716ff9b78f21ac844b52b9ea374

April: 33,715 NOTE (0.07590374 BTC) To BitGive Foundation
TX ID: a7683a120750b500bb8a4e4987a26de97f2751c9ad0ef9708da8e56a529621b3

March: 83,495 NOTE (0.01001940 BTC) To BitGive Foundation
TX ID: Sent to BitGive Foundation (Missing TX ID after Server rebuild, will search Wallet History)

February: 29,690 NOTE (0.09482507 BTC) To BitGive Foundation
TX ID:  Sent to BitGive Foundation (Missing TX ID after Server rebuild, will search Wallet History)

Thanks qiwoman!

Mintpal is now up and trading. Completed a "buy" and a "sell", as a test, successfully.  

DNOTES continues to amaze me and it's success is proof that true Crypto Currencies can stand the test of time.

Mintpal is coming up online. Insufficient data for trading at this time. Hopefully, soon.

Lol. They are taking "fractional reserve banking" to a whole new level. Very risky. Check out one of my earlier posts:

********************
October 03, 2014, 06:36:27 PM
Quote from Dyna:

Your question on fractional reserve banking is important. Let's focus on that at this time:

Most countries sanctioned fractional reserve banking in that a bank is allowed to hold just sufficient reserves to meet withdrawal demands, but less than customers’ total deposits. Since the banks, in effect, are using customers’ money to make loans and other investments, any systemic crises can lead to a bank run causing a total collapse of a bank or the banking system. In order to mitigate such failure, banks and financial services are highly regulated and backed by deposit insurance and the government as a lender of last resort for large commercial banks deemed as “too big to fail.”

One of the strongest selling points of cryptocurrency, is that it is like cash; you can not spend it, if you do not have it in your wallet. Once it is sent, it is committed through the blockchain and you cannot retrieve it.

Although I do not believe that digital currency will totally replace fiat currency, I am certain that it will supplement fiat currency by at least 20% in a decade. At that time, certain nations may sanction fractional reserve banking using cryptocurrency. I suspect that some form of “fractional reserve banking” is being used by certain exchanges today since there are no regulations to prevent it. That can be quite risky for customers keeping large amount of their holdings with the exchange.

Wow just checked the DNotes price. Looks like we are on the rise.

So basically they are taking our deposit money and using it however they please. I'm pretty sure there are a few other exchanges who do this as well.

This could be another problem.

Fake Chinese Bitcoins Crash Entire Crypto Market.

Fake Chinese Bitcoins Are Commonplace At Chinese Exchanges Evidence Shows
The accusations came fast and furious Sunday when a Reddit thread appeared in r/BitcoinMarkets describing the heavy manipulation of Bitcoin and Litecoin in China. The story is that OKCoin, Huobi, and BTC China are introducing fake fiat currency and fake Chinese Bitcoins on their exchanges. Since it is unlikely all users will cash-out at once, the Chinese exchanges can increment a user’s fiat balance or Bitcoin balance by whatever amount  ......"

Read more:

http://bitcoinpricelive.com/chinese-bitcoins-crash-market/

From Cryptomoms Forum:

Quote from: Ace on October 04, 2014, 02:06:16 PM

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

WHY THE BITCOIN PRICE DROP IS REALLY GOOD NEWS

https://www.cryptocoinsnews.com/bitcoin-price-drop-really-good-news/

******************************************************
Quote from: Shepherd:

Although I don’t quite agree with the author’s overall argument, I have to say that it is a well written article. However, a 40% drop in Bitcoin’s price from $500 to $300 over a few weeks is not good for the industry.  "A rising tide lifts all boats.” We are seeing the reverse of it and it is hurting the industry.

On the brighter side, I do agree that Bitcoin is here to stay. It has been doing a lot of things right. The price adjustment is just part of the growing pains. I strongly feel that at low $300s Bitcoin is undervalued and at $500 it is priced to perfection, until demands for Bitcoin increase significantly.

It is interesting to note that while prices of other crypto currencies have been going down, the price of DNotes has gone up from around 1,000 Satoshis to 1,300 + Satoshis. This could confirm that DNotes is undervalued. It is also likely that there has been some “flight-to-quality”, a financial phenomenon that happens when investors unload riskier investments to invest in a more stable and safer alternative.

This was posted yesterday on a new thread - "United we stand, divided we fall - the coming rise of cryptofiat"


David Latapie
Sr. Member
****
   
United we stand, divided we fall - the coming rise of cryptofiat
October 03, 2014, 06:31:26 PM
 #1
This is a call to arms.
Cryptoland as a whole is entering into decadence. We are resting on our laurels because BTC reached 1000 dollars and even now it is three times its 2013 ATH.

Delusion of grandeur
While we are partying, the real competition1 is readying its weapons.
What? You really think banksters will disappear,  fiat will disappear, a several century-old institution (fiat currency) will disappear thanks to a 5-year old technology? That some 50 year-old people (maximum, most are in the 20-30's) could change one of the latest powers of nation-states? Even the European Union's euro has a hard time doing it and it is not that big of a change. If fiat exists for so long, it is not only because of the lack of a better technology. It is also because it suits us (mankind). "But again, truth be told...if you're looking for the guilty, you need only look into a mirror."

Quote from: Transhuman Space
Any meme several centuries old is adaptable enough to survive

Radio was supposed to kill newspaper. TV was supposed to kill radio. Internet was supposed to kill TV. See a trend, here? Fact is this is just not how things works. Without going at length about the differences between protocol and symbol (sumbolon), let's just say that centralised money is here to stay. Sure, it will have to negociate its position with decentralised money, like newspaper did with radio and so on, but that's all.
And let me tell you: cryptofiat is a thing to come. Newspaper adapted to the rise of internet by going digital (ebook and apps), because being paper is a protocol. Providing daily written information is a symbol. Symbol don't die, protocols do.
That's the same with fiat. It is a symbol, something that unite people2. Fiat could change its protocol, like moving from arbitrary (decree, fiat) to cryptographically-enforced. Yes, cryptodollar or cryptoeuro or cryptoyuan could very much become a reality; or cryptocredit, if you buy the SF staple of one universal money - doesn't change much, except if you are in the forex or exchange office businesses.

And guess what, nation-states won't have any desire to share power with hippies/hackers using this Bitcoin thing. Once they'll realise prohibition doesn't work and cost them money3 (some are starting to understand it), they will create their own cryptofiat. Nicaragua is doing it and I know some other places are doing it too.
The best way to kill bitcoin and all is to make it irrelevant.
100% premined fiat would not even need to change money creation (a crypto can be infinitely inflationary, like most Peercoin-based cryptos or Dogecoin). On top of it, cryptofiat would make surveillance so much easier. And since blockchain has tremendous uses out of money (see #powerofblockchain on Google+), you can be sure that incentives for moving to "crypto-everyting" will be there. Governement could even encourage it. Every passing year, somewhere in the world a law is promulgated to reduce the amount of cash that can be used for buying something. Connect the dots.

Meanwhile, what we, Cryptolanders, doing? Self-congratulation ("we're gonna kill banksters") and infightings ("my coin is better than thyne"). These are signs of decadence. The Chinese Empire decayed in the middle of the last millenium when it decided that there was nothing interesting outside of its frontiers. And we are far from being the Chinese Empire. We are digging our own hole. Narcissism of small differences. A friend used the word of "crypto-balkanization". That's exactly it.


This is a war and we are soldiers
Now, what can we do?
First, we should both not care too much about infighting (the altcoin war is also Darwinian evolution at work, it has its uses) and at the same time still care enough to remember what really matters. Speaking of that, what does really matters, mmh? You have four hours.

Second, it is easier to win if your competitor lets you win. Build your opponent a golden bridge to retreat across. If a governement can take advantage of crypto (and I already explained it can), make it so that this is a mutually-profitable agreement. Hatred only go that far; negociation goes much farther. Hey, I'm French, I know what I am talking about, we have an A-grade in Stubborness and Stupidity (Africa, Indochina...) whereas the British were much smarter.
Governement wants money and control. Let us do it whilst allowing anyone on an individual basis to opt-out. If we create the tool, it will be possible. If we let the government create it, much less.

Third, read history. Remember WIR. Remember how local currencies die when crisis are over (or sort of). Fiat won't disappear, it will adapt and there is room for non-fiat cryptocurrencies as long as it makes sense. What could an "illegitimate" currency (as in "not backed by governement") be good for? I believe that anonymity is the important thing4. You can be sure that cryptofiat will be traceable. You can also be sure also there will be a need for untraceability. A homeostatic system integrates its own opposition, that's why it is homeostatic. In simpler terms, legality has to tolerate illegality to continue to exist (which doesn't mean that tools useful for illegal action can't be used for legal actions - you do pay your coffee with some quarters, right?)

Quote from: Lord of War
And while the biggest arms dealer in the world is your boss, the President of the United States - who ships more merchandise in a day than I do in a year - sometimes it's embarrassing to have his fingerprints on the guns. Sometimes he needs a freelancer like me to supply opposition forces he can't be seen supplying. You call me evil, but, unfortunately for you, I am a necessary evil.
It would be embarrassing for a government to have his fingerprints on an untraceable currency - after all, if you have nothing to hide, you have no reason to refuse traceability, right? Sometimes a governement needs a freelancer like us.

So stop infighting and look at the real threat. Come on. It would be one of biggest missed deed of our time if open source failed to liberate more than code.

1. I don't like the word "enemy", it brings hate and I am like Churchill, I don't hate people, I just compete with them.
2. Sumbolon: which unites. Diabolon: which divides.
3. Forbidding prostitution doesn't work but doesn't cost money, for instance.
4. Full disclosure: I am a core team member of Monero, a currency whose main selling point is anonymity.

     I am sure there are other "old, experienced guys" that are leading a development team in the Crypto-Currency world. I am sure there are people in our industry that have done business with, or met for other occasions people like Bill Gates, Steve Ballmer and Michael Dell. There may be people in our industry that have secured multi-million dollar government contracts for personal computers. There may even be someone in our industry that was CEO of a publicly traded personal computer company. (probably just one, our very own Dyna).

     What I am VERY sure of is this: There is no one that is better qualified than Dyna to lead a development team in this crazy, volatile world of Crypto-Currency. Dyna is one of the most humble souls I have known in my 56 years. He would never brag about things like competing head to head with Dell for the PC market. Or that his company was the first to put the power supply "in the box". Anybody here remember when computers came with a separate power supply? Dyna was there to witness, and be part of the birth and shaping of the modern Personal Computer. He knows how to run a company. He understands business at a level few can match. He understands the financial system. He was a visionary in the '80's and '90's. Listen carefully what he has to say.

Smokey

Well, I know where I'll be checking when we go over to zph42's house for a cook out.

And, since you can print out a "cold" wallet, you can actually stash it under your mattress too.

That is EXACTLY what I took away from this interview also. The folks that are "into" cryptocurrency are all about features that an ordinary consumer cares little or nothing about. "Ordinary" consumers (the masses) only want a few VERY IMPORTANT things from money, whether it be fiat currency or crypto currency. Is it safe? Is it easy to use? If i keep it instead of spend it, will it hold it's value?

Very well stated, Yoda.......

Yes, I have met quite a few very successful people during those years. Quite frankly, I learned a lot from most of them. Many people are successful for very good reasons.

Your question on fractional reserve banking is important. Let's focus on that at this time:

Most countries sanctioned fractional reserve banking in that a bank is allowed to hold just sufficient reserves to meet withdrawal demands, but less than customers’ total deposits. Since the banks, in effect, are using customers’ money to make loans and other investments, any systemic crises can lead to a bank run causing a total collapse of a bank or the banking system. In order to mitigate such failure, banks and financial services are highly regulated and backed by deposit insurance and the government as a lender of last resort for large commercial banks deemed as “too big to fail.”

One of the strongest selling points of cryptocurrency, is that it is like cash; you can not spend it, if you do not have it in your wallet. Once it is sent, it is committed through the blockchain and you cannot retrieve it.

Although I do not believe that digital currency will totally replace fiat currency, I am certain that it will supplement fiat currency by at least 20% in a decade. At that time, certain nations may sanction fractional reserve banking using cryptocurrency. I suspect that some form of “fractional reserve banking” is being used by certain exchanges today since there are no regulations to prevent it. That can be quite risky for customers keeping large amount of their holdings with the exchange.

That's quite the honour! I've always admired his various philanthropic endeavours, which have inspired me to take on my own (there will be more than just FF4DC).

You must have networked with all kinds of high status business people as CEO with Dauphin Technology. That experience will go a long way in mainstream crypto adoption, and is already HIGHLY evident when stacked up against other coins.

As days go by, i feel safer and safer with my investment in the DNotes blockchain. When the government starts regulating crypto more proactively, I'll be happy that DNotes is not an anonymous blockchain, but a trusted one with credible people.

Off topic, but how do you think fractional reserve banking could affect crypto and when would it come into play?

Having met Bill Gates personally, a couple of times, in the capacity as CEO of Dauphin Technology, a mobile computer company, in the early 1990s, I am still one of his biggest fans.

While some might be disappointed that he did not come across as well informed on the current affairs of Bitcoin, he made an amazing case that applies to DNotes perfectly:  

“The customers we’re talking about aren’t trying to be anonymous, they’re willing to be known, so bitcoin technology is key and you can add to it or you could build a similar technology where there’s enough attribution where people feel comfortable that this is nothing to do with terrorism or any type of money laundering.”

DNotes primary targets are customers who are not trying to be anonymous when they acquire or spend DNotes. It is a trustworthy currency positioned to meet the full functions of money and more, with limited features of anonymity rendering it a poor choice for terrorism and money laundering activities.

I firmly believe that many in our industry are making a fundamental mistake of targeting their currencies to meet the preferences of the early adaptors already part of our industry, instead of the masses world wide.

Bill Gates is a visionary, proven many times over. I proudly treat his comments as a confirmation that DNotes is on the right track. By definition “visionaries” are not “me too”. They often go against the “herd mentality” of following the crowd. Being alone or among the very few can be challenging sometime. As always, your participation and support are well appreciated.

Bill Gates on Bitcoin

http://www.coindesk.com/bill-gates-bitcoin-highlights-utility-digital-money/

I'm banking on that same theory, my list of surviving coins will be very short and DNotes is my favorite horse in the race.