The currency will only be successful if it gains rapid, widespread, and broad base support from a very large number of individuals and groups. Collectively, the miners, mining pools, bloggers, social media, and crypto forum users contribute the largest portion to the success of the currency. These groups, being critical to our success, deserve the most credit and appreciation. The vast majority of premined coins are allocated to them as rewards for their contributions. It is time for a fair distribution to ensure a level playing field and not a get rich scheme for the developers.
How is this coin differentiating from all the other crypto currencies out there? What are the plans to make this coin spread worldwide except from giving coins away? And why should businesses accept this coin as a payment?
Those are excellent questions. DNotes could very well be one of the most generous crypto currencies in terms of giveaways. We absolutely believe in the shared stake concept and that our giveaway programs have made it possible for many to own crypto currency for the first time. Based on our registration data, our giveaways through Cryptomoms is indicating that 25% of our giveaways have gone to female stake holders. This of major significance, since Cryptomoms core mission is to assist and encourage women's participation in the crypto currency world overwhelming dominated by men by a ratio of 19:1, or 95% (male) to 5% (female). This troubling gender imbalance has been voiced by women’s advocates and discussed in different Bitcoin forums; but until now a highly focused and dedicated effort to change the playing field has been lacking. This deserves our industry united efforts to drastically turn it around. In order for crypto currency to become main stream, this is one of the critical challenges that must be overcome.
DNotes is fundamentally different in substance and style. We are totally committed to building a solid foundation right from the start, deliberately maintaining a low profile to avoid rapid increase in the price of DNotes that is not yet supported by fundamental values. Stability in the value of the currency is one of the key targets our business model seeks to achieve. Instinctively, we all love rapid price appreciation and we certainly understand the mechanics of the law of supply and demand. However, if demand is artificially generated constantly to induce rapid price appreciation, stability in the currency is not achievable. We all love rapid price appreciation, but for long term stake holders, sustainable price appreciation within a reasonable range is the most valuable selection criteria to consider. Until there is a digital currency sufficiently stable, wide spread adoption by merchants is highly unlikely.
DNotes mission is to be the digital currency of the future with lasting value. This is a huge challenge consisting of many strategic moves. We are about to complete our phase one formative stage and will be issuing a press release soon to provide further guidance of our vision and roadmap going forward, which will include reaching out to our industry peers in the pursuit of worthy projects of mutual benefits to the digital currency space. I hope this is helpful, for you and others to begin to understand why DNotes has elected to take a different path, one that is materially more difficulty, costly, and time consuming. Understanding the macro prospective and doing the right things are the best contributions we can offer to our industry currently in a state on much confusion and mistrust. Our rather openly public support for AsiaCoin in time of needs is an indicator of what we are prepared to do to help unity our industry.
Thank you Dyna your answer helped me understand how Dnotes differs from many crypto currencies. I like the idea of supporting female stake holders this may bring a new public to get involved in crypto currencies, it could also help the coin gain great visibility. Trying to keep a low profile so that the coin will not be used as many others just for a pump and dump might make it reach a major stability and value. Still I believe that if the coin will not be used to pay goods and services it will never be seen as a possible alternative to fiat currencies. I understand that this is very complicated, especially finding businesses that are interested in accepting crypto currencies as a form of payment being the market so unstable at the moment. With that said is Dnote being used for any trading activity or the coins you gave away went out only for advertisement? Thank you for your time I hope this coin will get the attention needed!
Thank you, Italian Technology. Supporting female stake holders is not just a smart business move. It is a critical prerequisite for digital currency to become main stream. Women world wide control more than 50% of consumer buying power. This segment can not and should not be ignored. In phrase two of our campaign, we will be much more visible and reach out to our industry peers to join force with us in addressing issues that matter the most in our industry. There are many issues that preventing the industry to be more successful and women’s participation is only one of them. We need many more people like you who understand what matters and ask very objective and constructive questions. If there are specific projects you believe can be helpful, please let us know. We will do our best to support you. If you have not already done so, please join the forum at:
http://cryptomoms.com/forum/index.phpIn the mean time I will have our discussions posted in their forum. You are gifted in asking probing questions that matter. Many of the participants are new to the crypto currency world. I trust you can be of great help.
Quote: (from Italian Technology) “Still I believe that if the coin will not be used to pay for goods and services it will never be seen as a possible alternative to fiat currencies. I understand that this is very complicated, especially finding businesses that are interested in accepting crypto currencies as a form of payment being the market so unstable at the moment.”
This may be best answered with a quote from one of my earlier posts:
(Shepherd at Cryptomoms, April 20, 2014)
“In order to be the digital currency of the future, that currency must meet the three most important criteria.
First, it must be traded on all major exchanges and recognized by most analysts as a value currency with long term appreciation. There must be strong fundamentals to support its value and growth projections. Typically, the long term trend reflects a higher high and a higher low.
Second as a store of value. At a minimum, its value or purchasing power must be able to keep up with the rate of inflation. As an example, if it costs 300 DNotes or US$2.99 to purchase a gallon of milk today and the price of milk went up to US$3.99 next year, the same 300 DNotes must be able to purchase that gallon of milk. That being case, this is a reliable currency, in regards to store of value. Now, if it only cost 250 Notes, it means that DNotes was either under valued a year ago or that it has high appreciation value.
Three, being a medium of exchange for goods and services in conducting global commerce. Until there is a digital currency that can meet this demanding criteria, it is my humble opinion that digital currency will not become main stream in global commerce. On the other hand, if one or more crypto currencies meet this demanding standard, the total global transactional value will be in the trillions of dollars. Unfortunately, our industry has failed to meet this requirement miserably. Whether you consider it individually or as a group, the value of crypto currencies today is chaotic and unreliable. At a more appropriate time DNotes will attempt to sign up merchant accounts to use DNotes for the purchase of their goods and services. However, until DNotes is sufficiently established and accepted as a trustworthy, stable, and reliable currency with appreciating value, do not expect an all out campaign from DNotes to sign up merchant accounts. In other words, it is not yet ready for "Prime Time."
In brief, we are in agreement with you. However, we also feel very strongly that until there is a more favorable environment backed by a currency that can meet the minimum requirements and expectations of merchants any campaign to set up merchant accounts will not result in much success. Although, some of the currency risk can be minimized through sophisticated currency hedging programs, the added cost burden out weights the low transaction cost of digital currency compared to the cost of using credit cards and other forms of payment.
DNotes is currently listed on Allcoin, Polonex, Comkart, and C-Cex Exchange. It is also listed on CryptoRush Exchange which we understand will be back on line soon.
