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Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 80. (Read 814547 times)

legendary
Activity: 1610
Merit: 1060
Wait? What? They ran their Bitcoin and I've-Never-Heard-Of-Altcoin clients on the same server that would allow a hack like this? And ummm...  do industry standard cold wallets not work now or,...  Ohhhhhh!

Let's not even go into the fact that they ran a ponzi, people whose bitcoins were hacked were able to get their money out with investment of new people's money, people who were investing / storing unaware that Cryptsy was insolvent. You're all so correct, they should have communicated. Let us hope the funds are retrieved. This is brand damaging, and I don't see Cryptsy operating again in future.

Briefly popping by to say hello (apologies for my absence -   finished my course today for a personal training franchise I've started so that I can choose the hours that I work in and around the last of my university). That said, I'm now really looking forward to Alan's book.

We missed you for a while, TeeGee. Always good to see you. We are anxiously looking forward to see the next video you and the boys have been working on. I trust that it will be a great video.

Giving Big Vern the benefits of the doubt, Cryptsy situation is very sad and challenging. Damage control could have promptly kicked once the incident was discovered. I will leave it at that for now.

The book is beginning to shape up nicely. It has been much more demanding than I anticipated. Like DNotes, the book will clearly differentiate itself from other entrepreneurial business books. It is easy to read and inspiring; starting from top to bottom.

Here is another unedited quote from the book, "In essence, this approach to design begins with you, and ends with the creation of an entire team and organization that reflects your values and mindset - in much the same way that the planets in the solar system reflect the light of the Sun. When done properly, you will achieve the goal of multiplying yourself and extending the reach of your leadership. That will in turn expand your sphere of influence beyond only those with whom you have major interaction each day, and allow you to impact even those employees you may not regularly see. Because you will be creating a team of like-minded, vision and goal-sharing individuals, your organization will have the capability of achieving the type of exceptional results that others will only be able to wish they could enjoy."
RJF
hero member
Activity: 616
Merit: 500
Online since '89...
Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

Disappointing to say the least. Hopefully the lost funds can be recovered or otherwise worked out.

Paul Vernon: "This worked fine for awhile, as profits decreased due to low volume and low Bitcoin prices, we would adjust our spending accordingly.  It wasn’t until an article from Coinfire came out that contained many false accusations that things began to crumble.   The article basically caused a bank-run, and since we only had so much in reserves for those currencies problems began."
 
Other than the obvious mismanagement, which, in reality, a LOT of businesses in the same position would have done, the statement above about "Coinfire" is key to a rampant problem in the industry, irresponsible reporting. Some people think "freedom of the press" means you can publish anything you want, accuse anyone of anything and, outright lie to the public without consequence. Nothing could be further from the truth especially in a new industry where why too much illegal activity already exists. The Press has a RESPONSIBILITY and a legal mandate to report ONLY the truth. Truth meaning well researched FACTS supported by proven events and publicly available information. It is NOT their job to ruin businesses and peoples lives for the sake of headlines and self gratification oh, and money, there's always the money.

And to make matters worse, since so little real content/information is available, ever article and statement has the instant ability to go viral. No chance to make corrections or pull an article, it's already global right after penning the last sentence. I'm sure (?) as the industry matures this will be better controlled and some sense of responsibility will overtake the "wild west" attitude of our fringe press but, even the traditional news sources would sacrifice honesty and accuracy for ratings so, I suppose it's up to us to communicate the truth. Sad.

So, in a way, Cryptsy was the victim here in more ways than one. The thing I still have trouble understanding is Paul's silence. He didn't have to reveal everything, hell, he didn't have to reveal ANYTHING, all he had to do was to communicate, to reassure customers, to say "We're working on it, sorry for the inconvenience" This alone would have softened the blow when the truth was revealed, perhaps enough to allow them to continue operations with their customer's help and understanding instead of angst and mistrust.

To ALL you new crypto businesses out there I say this: COMMUNICATE!  No matter what the problem, no matter how bleak the outcome may be, your fault or not, TELL YOUR CUSTOMERS SOMETHING! When I was in the the Internet Provider business we had one solid rule that was unbreakable: "talk to the customer, we all work for them."

hero member
Activity: 846
Merit: 535
Wait? What? They ran their Bitcoin and I've-Never-Heard-Of-Altcoin clients on the same server that would allow a hack like this? And ummm...  do industry standard cold wallets not work now or,...  Ohhhhhh!

Let's not even go into the fact that they ran a ponzi, people whose bitcoins were hacked were able to get their money out with investment of new people's money, people who were investing / storing unaware that Cryptsy was insolvent. You're all so correct, they should have communicated. Let us hope the funds are retrieved. This is brand damaging, and I don't see Cryptsy operating again in future.

Briefly popping by to say hello (apologies for my absence -   finished my course today for a personal training franchise I've started so that I can choose the hours that I work in and around the last of my university). That said, I'm now really looking forward to Alan's book.
IMZ
legendary
Activity: 1498
Merit: 1000
[sigh] I've been thinking on this for a while: in respect of crypto-currency exchanges, 'if in doubt, assume the worst' should be policy.

Mark (IndiaMikeZulu), Australia
legendary
Activity: 1932
Merit: 1111
DNotes
Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/

Disappointing to say the least. Hopefully the lost funds can be recovered or otherwise worked out.
legendary
Activity: 1638
Merit: 1005
Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/


While we were all suspicious of what was going on, I was hoping for the sake of the industry, that they would get their act together.  Why are we just finding out about 10,000 missing Bitcoin now??

"Here are our options:
1.   We shut down the website and file bankruptcy, letting users file claims via the bankruptcy process and letting the court make the disbursements.
   or –
2.   Somebody else comes in to purchase and run Cryptsy while also making good on requested withdrawals.
   or –
3.   If somehow we are able to re-aquire the stolen funds, then we allow all withdrawal requests to process.

I’m obviously open to any other ideas people may have on this."



#2   "Somebody else comes in to purchase and run Cryptsy while also making good on requested withdrawals."  So, you buy Cryptsy and then you have to refund customers 10,000 missing Bitcoin, and whatever else that may be missing??
legendary
Activity: 1806
Merit: 1029
Cryptsy finally posts a meaningful update. Unfortunately it's not good news. Yes, money was stolen (so it wasn't just "technical difficulties"); one option is filing for bankruptcy. They are hoping they might be able to recover the lost funds (apparently they are sitting in a wallet and haven't moved since the theft), but it's a long shot. Trading and withdrawals suspended indefinitely, although it looks like some markets are active. Also, not sure if it's just BTC and LTC withdrawals they are suspending or all of them.

http://blog.cryptsy.com/post/137323646202/announcement/
legendary
Activity: 1610
Merit: 1060

This is a good article even if it seems at odds with an industry that is anything but up close and personal.


Word of Mouth Marketing Is A Powerful Tool For Bitcoin Companies

http://digitalmoneytimes.com/11993-2/

In practice, gaining any meaningful amount of "word of mouth" is extremely difficult and seldom happen. The book I am working on could be our best vehicle to facilitate favorable word of mouth promotion for DNotes. It could happen as a bi-product of our sincere efforts to assist small business owners.

The book is shaping up very well and could be quite unique with great potential. I am introducing a new concept for employee performance appraisal, which has always been an unresolved challenge for most companies. There has been some success among a small percentage of the larger companies in incorporating "Management By Objectives (MBO)" and more recently "Balanced Scorecard" but for the most part small business owners have continued their struggle on how to evaluate employee's performance objective.

legendary
Activity: 1610
Merit: 1060

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.

You are correct, there will be many, some successful, some not. DNotes will succeed. DNotes has always had a plan and, they stick to it and, it's a plan for the success of all involved, that's what makes NOTE different. There are more committed, intelligent, experienced and capable people behind DNotes than almost all other offerings in the crypto-sphere.  All I'm saying is to not put all your trust in John's conclusions... On anything!



Thanks for your confidence and support, RJF. I am surprised that the price of DNotes has drifted this low. Obviously, not enough investors understand or value our long term projects we consider vital to our long term success. Our priorities are uniquely different. We are investing for the long term to give DNotes the best chance of gaining mass acceptance one day. Our industry is more short term oriented; hence the mismatch.
legendary
Activity: 1610
Merit: 1060
I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.

Thanks, for visiting us psybits. Being someone who has been actively involved in our industry since 2012, I trust that you have seen it all. As it has been apparent recently, DNotes has selected not just a different path, but a lonely path. In many ways we have been going against the grain. Focusing in foundation building to achieve long term strategic vision is obviously not that exciting in our industry. So for better or for worse, DNotes is in sleeper mode.

DNotes has been casting a very wide net. Everything that we doing are strategically linked. Irrespective of how the market is pricing DNotes these days we have been making progress constantly in multiple fronts. 2016 will be a great year for us. The buying opportunity for DNotes at this price may continue for a few more months. Things could change fairly quickly once other projects are lunched.
legendary
Activity: 1638
Merit: 1005

This is a good article even if it seems at odds with an industry that is anything but up close and personal.


Word of Mouth Marketing Is A Powerful Tool For Bitcoin Companies

http://digitalmoneytimes.com/11993-2/
RJF
hero member
Activity: 616
Merit: 500
Online since '89...

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.

You are correct, there will be many, some successful, some not. DNotes will succeed. DNotes has always had a plan and, they stick to it and, it's a plan for the success of all involved, that's what makes NOTE different. There are more committed, intelligent, experienced and capable people behind DNotes than almost all other offerings in the crypto-sphere.  All I'm saying is to not put all your trust in John's conclusions... On anything!

member
Activity: 72
Merit: 10

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.

McAfee raised a few good points. Personally I don't believe there will be just one digital currency. Some may find niche applications and some may act as representative tokens. So far DNotes is the only one that seems to have long term goals and a real business plan.
RJF
hero member
Activity: 616
Merit: 500
Online since '89...

Unfortunately, or fortunately, however you look at it, John's mind has gone south for the duration. Several incidents in Belize have pushed him over the edge although he was always ON the edge. I met him once, quite an interesting character but, perhaps a padded room awaits him in the future. Not saying he is right or wrong but, consider the source.
legendary
Activity: 1932
Merit: 1111
DNotes
I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.

Good to see you psybits, thank you for the kind words. We are working hard to ensure 2016 is a great year for DNotes.
legendary
Activity: 1386
Merit: 1000
I'm extremely excited to see the DNotes Company and Alan's book launch come to fruition in 2016.

DNotes is in sleeper mode right now, but knowing the team very well I am not sure how long this will last.
legendary
Activity: 1610
Merit: 1060
Despite a lot more favorable news on Bitcoin recently, it is becoming apparent that even some of the major players are becoming more conservative in burning cash. Venture capital has a new interest – blockchain. This reminded me of the “dot com” era. Before the Internet bubble burst; anything with the extension of dot com to their name was funded. Blockchain seems to be following that shadow.

Trade shows are very expensive to participate. We spent as much as $250,000 for one Comdex show in Vegas when Dauphin Technology introduced its first DTR (Desk Top Replacement) tablet computer 1993.



World of Bitcoin Shrinks as Startups Scale Back at CES 2016
Pete Rizzo
CoinDesk

One of the biggest events on the annual tech calendar has passed without many major announcements from bitcoin or blockchain industry firms.

The 2016 Consumer Electronics Show (CES), held in Las Vegas last week, saw a notable decrease in the number of industry startups attending, with 2015 attendees including Blockchain, BitPay,Circle and Kraken indicating they did not participate.

Further, of the assembled participants, a lineup that included lesser-known names such as BitCircle, BitRouter, Bits Limited, HyprKey and Ledger, only the latter company had a booth showcasing its technology or an announcement as it unveiled its new flagship bitcoin hardware wallet, Ledger Blue.
Ledger co-founder Thomas France told CoinDesk during the conference that he noticed a particular absence of peers at the event.

"We’re the only bitcoin startup this year. There’s a couple of bitcoin [people] that came to the stand, but no other bitcoin products,” France reported last week.

………….   "These events are super expensive. You come out here as a startup, you’ll drop $60,000–$70,000. So depending on where you are in the funding cycle you may not see it as a priority," Raviv said.

He suggested some established digital currency firms may be seeking to conserve funds in light of perceived funding issues as investor interest transitions to blockchain use cases.
Read More:

http://www.coindesk.com/world-of-bitcoin-shrinks-as-startups-scale-back-at-ces-2016/
RJF
hero member
Activity: 616
Merit: 500
Online since '89...

Cryptsy:
"Regarding other issues that have been apparent at Cryptsy for the last couple months, I will be making another post to explain what has been happening in the next couple days."

I understand there is a nasty divorce and gag orders involved in the mystery why Vernon has not spoken out. Even so, it's shaky at best...



No excuse can or should be used to justify ignoring so many customers for so long. Having said that, if you are married and planning to start your own business or already owing a business here is an unedited quote from my book:

"If you are married, have your spouse pledged to be supportive of your business venture, for better or for worse, otherwise get the best paying job you can find or you will be handicapped right off the gate. Should things get rough, your home is your only refuge to rejuvenate to fight for another day. With or without a formal commitment, your spouse is already your business partner. Would your spouse make the rest of your day better so that you can be energized to have another productive day building the future dreams for your family? Or is it a case that your bad days at work aren't bad because it was after work when things often got rough? If you cannot have peace, comfort, and support when you come home after a long day, your chances of being better than the competition will be greatly diminished."


     It has been my experience that a lot of successful businesses have one thing in common: Either a commited husband/wife team, and/or a family business. There are certainly handicaps to having a family business. BUT, in my opinion, the benifits outweigh the downsides. At one point in time, over half of my 20 employees were family members. One of the downsides of a family business is having to fire or disipline those you love. Case in point:
     I have had to fire all three of my children at one time or another. Hell, I have fired one of em MORE than once. And I mean a real firing, done for the right reasons, and done correctly. They all hurt me as a Dad, but the worst was firing my only son. He was pretty big for his age, and helped on the masonry crew since he was 12 years old. I usually worked on the "brick crew" also (loved the work, designing and building fireplaces and chimneys) and worked with him closely for many years. I hired him full time right out of high school, at the age of eighteen. I think he was 20 or 21 years old when he was let go. We were both bawling our eyes out, I could not help it. I felt like Abraham, about to sacrifice his child. I felt like I had failed my son. It all turned out well, he went out into the world, and found out dear old Dad was not such a terrible boss after all. I hired him back after about a year. I sold the company a few years ago, and he still works for the folks I sold the company to. I am trying to get him to come up to Michigan and help me grow daylilies, but so far no success! He likes his damn job too much!!
    
     Smokey


Tough love is real love. We do a disservice to our children if we don't treat them the same as other employees in this situation. Glad it turned out well!

 
RJF
hero member
Activity: 616
Merit: 500
Online since '89...

Cryptsy:
"Regarding other issues that have been apparent at Cryptsy for the last couple months, I will be making another post to explain what has been happening in the next couple days."

I understand there is a nasty divorce and gag orders involved in the mystery why Vernon has not spoken out. Even so, it's shaky at best...



No excuse can or should be used to justify ignoring so many customers for so long. Having said that, if you are married and planning to start your own business or already owing a business here is an unedited quote from my book:

"If you are married, have your spouse pledged to be supportive of your business venture, for better or for worse, otherwise get the best paying job you can find or you will be handicapped right off the gate. Should things get rough, your home is your only refuge to rejuvenate to fight for another day. With or without a formal commitment, your spouse is already your business partner. Would your spouse make the rest of your day better so that you can be energized to have another productive day building the future dreams for your family? Or is it a case that your bad days at work aren't bad because it was after work when things often got rough? If you cannot have peace, comfort, and support when you come home after a long day, your chances of being better than the competition will be greatly diminished."

No better advise than this has ever been given! Amen...
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