Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 76. (Read 814553 times)

This story is all over the news. Mike may have had motivation to stretch the truth, but I wonder how much of a problem it will be for network stability as we start to reach capacity, that seems like it could be a real issue. I guess we are going to find out
"Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present."

Loved the article, Evander pointed out what I'm sure many of us were thinking...

"I have no doubt that R3 made it worth Mike’s while to divest himself of Bitcoin and any such entanglements."  ... "Maybe by buying out Hearn, they can destroy Bitcoin from the inside-out?"

"So why did I title this “Why I Applaud Mike Hearn For Turning on Bitcoin?” He is doing what is best for himself, financially. He is exposing himself as a true capitalist, not an altruistic computer developer devoting his life to Bitcoin, and seeing it through to the end. " This is a difficult problem for Bitcoin, who can really devote their lives to Bitcoin development long term without some sort of compensation. Eventually, without some sort of long term funding strategy, the money will just dry up. Development is very time consuming and needs dedicated people who can essentially devote their lives to it, especially with something as complicated as Bitcoin.

It is a long one, but well worth the read. The title threw me off a tad too lol.

I have to admit, the title made me nervous when I first read it  - lol. But it did exactly what it was supposed to do and that is draw me into a story I couldn't stop reading. This is a fantastic article!!

http://dcebrief.com/op-ed-why-i-applaud-mike-hearn-for-turning-on-bitcoin/

That is an interesting move and an early sign of much more consolidation in the horizon. Here is another case in point, that there is often a pioneer burden. The smart ones will merge or be acquired; others may just vanished.

This is a very positive mainstream media article out today - what a breath of fresh air!


Canadian bitcoin exchange bought out by Kraken

TORONTO – A Canadian bitcoin exchange will be acquired by a San Francisco-based exchange, a move that signals consolidation may be afoot in the so-called cryptocurrency world.

Bitcoin exchanges are described as the on-ramps and off-ramps of the bitcoin world, allowing users to trade their cash for the digital currency, or vice versa.


Cavirtex, a Canadian exchange, was originally launched in 2011. In April 2015 it was acquired by Coinsetter, a New York-based exchange that targets Wall Street traders.

Following the deal, both exchanges continued to operate as separate entities.

Kraken, a global bitcoin exchange headquartered in San Francisco, says it will acquire both Cavirtex and Coinsetter for an undisclosed amount, and will consolidate the two exchanges under its own brand. Client accounts will be transferred to the new platform on Jan. 26.

Bitcoin is a virtual currency that is not controlled by an authority such as a central bank, and is exchanged through peer-to-peer computer networks.

Kyle Kemper, senior vice-president of global business development at Coinsetter, says the deal will provide Canadians using the Cavirtex exchange with more liquidity and the ability to swap their bitcoins for a broader array of foreign currencies.

“Before with Cavirtex you were only able to trade the Bitcoin-Canadian dollar pair,” says Kemper.

“Now Canadians will also be able to trade Bitcoin-U.S. dollar, Bitcoin-euro, Bitcoin-Great British pound, Bitcoin-Japanese yen.”

Kemper says the dramatic spike in the value of bitcoin in 2013 – which skyrocketed to more than US$1,000 before subsequently falling lower – caused a slew of new exchanges to open up shop.

Now the exchanges are beginning to consolidate, a sign that Kemper says indicates the cryptocurrency industry is starting to mature.

“The industry is definitely maturing,” said Kemper. “The central banks are talking about it. The regular banks are talking about. The technology behind it is getting all sorts of play.”

The deal will also see Kraken launch an advertising campaign for Bitcoin in Toronto, encouraging Canadians to purchase the cryptocurrency.

“We’ve been servicing the bitcoin community, but now it’s about reaching out to the larger community as well,” said Kemper.

http://globalnews.ca/news/2462689/canadian-bitcoin-exchange-bought-out-by-kraken/

Another great story Evander. 

Oops! I should have read a little more diligently.  The bag of cash shown is worth $152. This picture on Twitter is what he had to use to pay for 3 coffees and 2 waters - https://twitter.com/caseysjournal/status/686963153092120576

I expected it to be bad, but, wow! That is very bad! Eye-opening!

Every truly disruptive technology involves behavioral changes. And change takes time. In the case of digital currency, people’s hard earned money is involved. Trust and comfort factors, which take time to build, become important considerations. It is further complicated by human greed and dishonesty. This makes it even more important for us to build a responsive and trustworthy community. For that is a reflection of our culture. We are invested and committed for the long term.

You don't have to read this entire article, but check out the bag of cash used to pay for 3 coffees and 2 waters in Venezuela.


http://www.nytimes.com/interactive/projects/cp/reporters-notebook/moving-to-venezuela/venezuela-currency

Thank you for sharing your thoughts Mark, it is encouraging, especially since I recognize your thoughtful and analytical nature.

'The key reason we feel DNotes has a chance to become the globally accepted supplemental digital currency we have envisioned is because we are building a framework that allows us and everyone else to have a vested interest in DNotes success.'

Ian and I are rock-solid convinced of one thing: ultimately, it's the community not the instrument. Indeed the recent drop in price (suffered by plenty of other good cryptos . . . ) is a concern; but 99.9% of community talk about 'commitment to long-term development' is hot air, just feel-good stuff to mask a short-term desire to make a buck. And when such coins drop in price, the community bails.

Dnotes strikes us as the exception. Where It Will All End Up is shrouded in mystery -- welcome to the human condition -- but (a) the frank countenancing of the situation, and (b) the patient nature of development until now both encourage us strongly.

[And the Dnotes wallet? It's a beautie! Never plays up.]

Mark

Unfortunately the staking part wouldn't work for DNotes as we are POW, just the POS coins and hybrids. The system he has setup looks pretty interesting though.

How about to add DNotes to staisybit stacking online wallet? I can try to ask staisybit dev for that. He says,thats is difficult but I can try to ask:)

https://bitcointalksearch.org/topic/launched-staisybit-universal-online-staking-wallet-1091402

Absolutely, it has always been our intention that DNotes from a technology standpoint will evolve. It would be to our detriment to act too quickly and jump into the latest innovations, although we do feel there are some great innovations being made in the industry.

Even 10 seconds to confirm a transaction at the register with the customer waiting is far too long. I can't say we have all the answers yet and perfect solutions but we do fundamentally understand the issues and these problems are solvable.

That's interesting that there are options for modifying the DNotes blockchain in the future to deal with these issues. And I can also see why it would be premature to try to do so now. I guess part of what you all need to do is pay attention to altcoins that do have interesting block chain innovations (especially the ones not getting media attention) and see what you can learn in the mean time.

I wonder if 1 second block interval with ten required confirmations would be technically feasible at this point. If so, it might work. There are probably better options out there in development, though, so no hurry...

Probably the most important topic, in my opinion, covered in this article is that we don't currently have a means of instant confirmation, which is necessary for consumer needs. On the existing framework, it wouldn't be possible to go buy your coffee without the business owner taking some level of risk. It's not a topic we can elaborate on very deeply, but we do have options for solving these problems. There will be breakthroughs and the DNotes blockchain may be very different from what it looks like today, and as Alan has mentioned there will be many on and off ramps in our payment system.

The key reason we feel DNotes has a chance to become the globally accepted supplemental digital currency we have envisioned is because we are building a framework that allows us and everyone else to have a vested interest in DNotes success.

Interesting technical article on why Bitcoin will probably eventually be replaced. I'm not sure I agree with his picks for replacements as I know of quite a few next generation coins that he doesn't even mention, but then again, I'm not a cryptographer...

https://tonyarcieri.com/the-death-of-bitcoin