Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 245. (Read 148868 times)

No need to apologize. I know he's been struggling with it. I'll get an update.

We have had great findings so far and many of the development teams that are very interested to work with us, seeing the potential of DNotes. Have a few interviews lined up for mid next week, keep you posted.

Apologies in advance, and, I hate to bring it up again but, any idea what is going on with DNotespool? Been days now without a payout, lots of errors, etc. I have a LOT of DNotes trapped there at the moment, just a bit concerned. I moved my hash elsewhere until it gets sorted but would like to know where this is going... Thx

Wow, you guys are really stepping up for me. Great discussions. Thank you.

The commitments have been made. We are now actively working on our funding using Reg. A+ mini IPO Title IV Tire 2 to raise up to $50 million from accredited and non-accredited investors worldwide next year. This is a big project that need a lot of professional involvement, making it quite expensive. Accordingly, we are considering offering a Reg. D 506 (c), available only to accredited investors to fund the mini IPO. This is a common strategy and encouraged by the SEC.  

I am extremely busy focusing on the most critical issues and getting the most important things going as quickly as possible. We have already retained the services of Laura Anthony of Legal & Compliance, LCC and I will be selecting an accounting and PCAOB auditing compliance firm next week.

Joe and I have been combing the entire Chicagoland area in search of the best software development team to work with us. We will be interviewing several companies that have expressed a strong interest. We are also planning to hire one or more qualified software engineers as part of our expansion project.

Yes, we are totally committed to making DNotes a technology leader. This is a multiyear project aimed at creating a fully integrated ecosystem most favorable for mainstream acceptance of DNotes. Our priority is to launch DNotes 2.0, migrating from Proof of Work to Proof of Stake. Following that multiple projects will be initiated to work in parallel with strong emphasis to support NextGenVC and our clients.  

NextGenVC’s core mission is to assist early growth stage, and established companies with great growth potential but constrained by other issues. NextGenVC has multiple missions: raise adequate funding to solve multiple deficiencies; introduce clients to digital currency and blockchain technologies; revitalize corporate culture and more by the book “Improve Your Odds – The Four Pillars of Business Success.”

DNotes is uniquely different. It is more than a digital currency but a complete system with many critical parts. I can not solve any of the Bitcoin problems as they are, but I am confident that, having been built from the ground up over the last four years, DNotes will solve most of the problems inherent to Bitcoin and other digital currencies. DNotes will prevail because of our clearly articulated vision and relentless commitments. It has not been easy to understand the DNotes' business model, but it wouldn't be long. Many other parts are coming together to form a clear picture by early next year.   

"You raise an excellent point here. I'd never actually connected the emerging Bitcoin derivative market with its high transaction fees." That is a really good point. The current futures market itself doesn't have bitcoin transactions, but this is just the beginning of long stream of cryptocurrency related financial products coming to market. There may also be bitcoin futures contracts taken out by those that are perhaps hedging their bitcoin holdings, or want some exposure to it and for one reason or another can't hold it themselves... yet. When these derivatives and other financial products start holding these currencies, the volume of transactions will go through the roof.

The futures market is an expensive place for speculation, with the price of one contract (Cboe) equal to the current value of bitcoin (CME Group's contract is equal to 5 bitcoin). With a 44% margin, and margin calls if the price goes down, it is out of the affordability picture for most people. Things will settle down with more competition and the possible addition of mini-contracts. When products resembling mutual funds arrive on the scene, I think we will finally see true mainstream adoption.

More futures trading is arriving:

"TD Ameritrade, the largest futures operation of any online brokerage, is going to allow bitcoin futures trading on its platform starting Monday."
https://www.cnbc.com/2017/12/15/bitcoin-futures-are-about-to-get-another-big-boost.html

You said it! It would also be difficult to say what constitutes a 'bubble worthy' rapid decline in Bitcoin price, given the historical volatility.

Sorry Tim, I missed that post of yours when skimming through the forum, but glad I could help illustrate your point. I do think either of those scenarios are distinct possibilities, but even if these challenges are overcome or averted, how long will it be until the limits are reached again under the new implementation? Will those changes bring about new ways Bitcoin can be exploited for personal gain? Can Bitcoin even change its core programming to accommodate solutions to its inherent problems, or will a patchwork hold? You don't have to answer these, I'm just kind of musing to make people think.

Bitcoin's Lightning Network might alleviate some congestion, but if it fails or doesn't live up to expectations I think it's safe to say that BTC will be hard pressed to function as a currency for day to day commerce. I am curious to see how much impact on transaction fees it will have, as the majority of transactions they will likely facilitate are dust (micro), which are usually sent with zero transaction fees anyways. What incentive is there for lightning network upkeep? That's why right now these transactions are getting backed up in the mempool and can take forever to send, because there is no monetary incentive for miners, and the miners always process the most profitable transactions first.

I really like how you brought behavioural ecconomics and the fact that the current market is a fraction of the potential market into the discussion. Where a bubble exists with investors aware that price far exceeds value, it is typical for all investors to closely watch the market while hovering a finger over the 'sell' button. This way they have a slim chance of being the second-greatest fool.

Then, when the bubble-price drops, it plummets quickly and keeps going until consensus is reached that the investment is valued at its real worth. If you look at the price history of bitcoin, this is not what happens. The price drop is steep, but the 'current value' baseline is never too far below the peek it dropped from. For me, that is a clear indicator that it is not a bubble. Bubbles pop.

Brandon, your posts are consistently novelle and insightful. I'm always pleased when I see something new from you, and maybe I put more stock in your advice than is wise, only time will tell. Also, you can't take credit for 'spamming' when you bring such variety.

As for the effect of transaction fees becomming unworkable, I posted earlier:

Of course there's the other effect of businesses refusing to continue accepting bitcoin, like Steam. As I see it there are two likely final outcomes:
1) Bitcoin is no longer used for small or regular transactions and functions more like gold as a storage of value that is difficult and expensive to transform.

or

2) The bitcoin community recognises their current software is significantly decreasing the potential value of their holdings and upgrades their system to something that enables fast and cheap transactions for the foreseeable future. This is just as likely to come in the form of a hard fork.

You raise an excellent point here. I'd never actually connected the emerging Bitcoin derivative market with its high transaction fees. I personally do not speculate on the price of Bitcoin, other than trying to time my moves into Bitcoin and then into USD to coincide with Bitcoin going up (rather than down), so I didn't think of the transaction fees in those terms.

But it is true that Bitcoin futures allow for people to speculate all they want on the price of Bitcoin without actually having to move Bitcoin. I guess whatever fees the normal derivative exchange they use is fine and familiar, but the price of moving Bitcoin would represent what seems to be an extra and unnecessary burden.

This is a really great article, I completely agree with the sentiment.

It's surprising that more people haven't yet caught on to why DNotes took the path it did. DNotes has had the opportunity to observe and solve problems that other cryptocurrencies didn't realize existed until it was too late. I'm sure the public will see a reflection of that calculated patience in DNotes 2.0.

It's only a matter of time before wise investors realize what a steal DNotes is, and see that the infrastructure already deployed by DNotes (in its current form) is more comprehensive and functional than a majority of the top 100 cryptocurrencies. This blockchain has been running for almost 4 years with no major issues, meanwhile some projects have a market cap north of 100 million on an empty promise to build a blockchain, and others with multi billion dollar market caps have blockchain issues like clockwork. I'm not blowing smoke, verify it for yourself if you don't believe me.

If DNotes 1.0 already has better infrastructure than the majority of top 100 cryptocurrencies/tokens, imagine what DNotes 2.0 will bring!

UK Regulator to Bitcoin Investors: “Be Prepared to Lose Your Money”

https://dcebrief.com/uk-regulator-if-investing-in-bitcoin-be-prepared-to-lose-your-money/

Someone was looking for comments on this on Facebook https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be

Which I agree, bitcoin is certainly not today what it was envisioned to be, but it opened the gates for the us to make it happen. Whether or not bitcoin will continue to grow in it's current iteration, continues as the gateway to the digital space, a fork off over takes it, or it carves itself out as it's own ultimate niche, who really knows, there are a lot of variables at play. What I can say for sure is that DNotes is taking it's own path to achieve many of these goals with clear direction and strategy.

By traditional measure, like I said in my original post, you came to the conclusion that Bitcoin is a bubble. If we also look at it from the perspective of behavioral economics, and what percentage of the herd has common consensus on the future direction of Bitcoin, there are still many individuals with different biases. During the tulip bubble, few people thought the price would go down, as is the case with nearly every other bubble. Bitcoin has undeniably reached critical mass, but I wouldn't go so far as to label it a bubble until we see how the other 95% of people in the world who don't use Bitcoin react to it. This 95% is a highly generous estimate, using America as a baseline for the entire world.

Innovation in the altspace, imo. When people saw that altavista sucked, that creates room for Google and Yahoo and Bing.

But in this space, I think Altavista itself improves by virtue of the others, as opposed to being killed by them.

Bitcoin is definitely in a bubble AND it hasn't reached it's full potential. The two aren't opposed to each other. Like Erik Voorhees tweeted the other day....

"Bitcoin can be *both* in a bubble and  underpriced, simultaneously. It depends on your timescale. Remember the poor fool who bought at $31 in mid 2011 at the top of that bubble..."

Stiglitz is a brilliant mind. I respect him a lot, but he's out of his depth. And it's kind of understandable why. https://www.bloomberg.com/news/videos/2017-11-29/joseph-stiglitz-bitcoin-ought-to-be-outlawed-video

I posted that on LinkedIn, quoting him “We ought to just go back to what we’ve always had.”

I'm not a Nobel Laureate, but I'm pretty sure this isn't how innovation works.


The first comment was
For Keynesian economists like Stiglitz, a decentralized currency is a threat to the economy in their minds. Without a central authority in control of the money supply, it would mean no quantitative easing and it could also become politically untenable to deficit spend during a recession (or any time really).

And I replied
Most definitely, the logic of why Stiglitz would be hostile makes sense . Thanks for the comment.

He once wrote 'Economics is difficult because we cannot conduct controlled experiments. But we do have a wealth of experience from which to draw inferences.' As a trader back in the day I learned some things, and one of them is that trends work, until they don't.

The development of an internet of value, building on our societal experience building out an internet of information....is completely new. So his economic inferences in this space make him uncomfortable, because he has no experience with it. Inferences like 'the invisible hand is not visible because it isn't there' are only possible if you exert control over fiscal and monetary policy, especially during downturns like you point out.

Practically speaking, this leads to the role of government. 'Government is needed, almost all would agree, at a minimum to enforce contracts and property rights.'

So his brilliant, brilliant mind gets muddled by this new reality where we don't require central trust mechanisms for transferring value. And he ends up spewing absurd on their face comments like the one in the OP.

Him and the whole lot of Keynesians...their days of control are over.

Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Dec 8th 2016 average transaction fee - $0.26 USD
Dec 8th 2017 average transaction fee - $27.20 USD

Any thoughts on the implications this will have on the industry?

16.3 million Americans buy and sell bitcoin frequently
https://finance.yahoo.com/news/16-3-million-americans-buy-sell-bitcoin-frequently-181415210.html

"Cboe’s bitcoin futures are on track for a stellar first week, the CME will launch its own contract Monday and Nasdaq plans to do the same next year. Still, 74% of adults have never used the digital asset at all, according to a new Morning Consult survey.

Meanwhile, 5% of Americans — roughly 16.3 million people — are buying and selling bitcoin frequently. Given bitcoin only hit mainstream mania this year, it’s safe to say we’re far from peak adoption."


I may be highly opposed to how some derivatives function, but there is no denying that regulated derivatives exchanges will be a great option for people who want to speculate on the price of Bitcoin. This will become more evident when the cost to buy and transact with BTC itself, becomes out of reach for the majority of individual investors.

From 2013-2016 Amazon's revenue increased by 1.8x and during that same period their profits rose by 2.35x - Their stock price rose by 3x during that time. They also have over 40% share of the e-commerce market, and their market cap is just over 10x their revenue (not bad for a tech company). I don't know if it's bubble is comparable to some of these altcoins and ICO's with market caps hovering around a billion dollars on zero revenue.