The more I know about cryptos the more I am coming to appreciate what an ingenious project DNotes is. I think Alan Yong is doing all the right things from a business perspective. Circumventing the whole ICO way to raise funds is also very smart. I'm not totally against ICOs, per se, but I see good reasons why it's to DNotes' advantage to not ever go there.
Price stability on DNotes, especially if coupled with a smooth direct crypto to fiat gateway, will be huge. Case in point: today I sold a portion of one of the coins I hold at a high for Bitcoin. Then I converted the Bitcoin for USD. This particular trade worked out well for me as I managed to catch both the coin and Bitcoin very close to their highs. However, with Bitcoin rising or falling by more than a thousand dollars in one day, it would have been very easy to have gotten caught in a rapidly falling market while still in Bitcoin. That actually happened a few months ago and I ended up having to hold onto the BTC for a month until its price came back up.
This sort of high stakes three way trading game that I'm forced to play each time I want to cash out some of my cryptowealth for USD (say to pay bills or go Christmas shopping) is fine for me because I come in with plenty of experience (I've been in this space since March of 2013 and have had lots of practice), but is absolutely insane for a newbie. And if all you want to do is make an exchange, you could easily lose several hundred dollars worth in a matter of minutes or hours. That's not going to work for the general public.
If a coin can hold its value steady relative to USD (steady and gradually rising), and smoothly transition from crypto to USD without having to go through other intermediaries (like Bitcoin or Ethereum), it's going to be ripe for mass adoption. In fact, when the coin pulls that off, there won't be so much need to even use the crypto to fiat gateway because so many other businesses will be OK accepting that coin in payment for goods and services. The next step after that, of course, would be for the coin to have a price that is even more stable and less volatile than USD. Then it can have a stabilizing effect on USD and other fiat currencies.
I'm really looking forward to 2018 in terms of DNotes!
Thank you, wiser, for your strong vote of confidence, “The more I know about cryptos the more I am coming to appreciate what an ingenious project DNotes is. I think Alan Yong is doing all the right things from a business perspective.”
I am humbled, but I do agree with you that the DNotes project is ingenious. It is complex and massive; primed for global scale and incorporated with multiple winning strategies that will go a long way towards the long-term success of DNotes – the digital currency.
If everything goes as planned, together, we could change the world and make it slightly better for those who are not yet wealthy. At a minimum, we will leave a positive impact that trust, respect, and integrity still matter. The book “Improve Your Odds – The Four Pillars of Business Success.” Is our blueprint. We follow the teachings from the book religiously. Chapter 15 is about “The DNotes Story”:
https://fourpillarsofbusinesssuccess.com/DNotes, with the help of DNotes Global, is about solving many problems and overcoming many challenges born out of the new decentralized world. The introduction of Bitcoin in 2009 created a new paradigm - a new asset class, decentralized issuance of currencies, and the ingenious underpinning blockchain technologies.
I truly believe, since the launch of DNotes almost four year ago, that we are witnessing the greatest technology revolution since the Internet. It will no doubt be bigger and more far-reaching than anything we have witnessed. As a participant, to be impactful, we must be able to see the big picture and clearly chart our long-term vision deep into the future. That vision must be clearly articulated, in a consistent manner so that others can understand enough to buy in and support our worthy cause.
The many problems confronting our industry are obvious. Anyone, with some efforts, can list a handful. But the solutions to overcome those problems are too costly, time consuming, and too overwhelming for most. Consequently, it is easier to ignore them and join the crowd to exploit short-term gain where possible. There is nothing wrong with that beyond the fact that those inherent problems remained ignored, and unsolved.
However, DNotes believes that there are bigger opportunities if we can correctly identify the big problems and focus in solving some of those problems. (As a rule – the bigger the problem – bigger the reward for the right solution). Keep this in mind and you will find it easier to understand why we are doing what we are doing.
I wouldn’t attempt to go into details, with a full schedule today. However, I do agree with you that the high volatility, navigation challenges, and transaction complexity are “absolutely insane for a newbie.” They are often difficult and frustrating even for those with years of experience. As they are, mass acceptance of digital currency is remote.
Our solution is to build a totally integrated and complete system, with different subsystem solving specific problems. The ideal solution is one that is frictionless to the user at higher efficiency, more secured, and lower cost than using paper (fiat) money. Additionally, the value of DNotes, after adjusting to new realities, must be sufficiently stable, with increasing appreciation to reflect new shareholder value created in conjunction with our ecosystem, including DNotes Global.
Those who are interested to learn more about why “system thinking” matters, please read Chapter 3 of my book – “A System Approach.” Feel free to ask any questions.
https://fourpillarsofbusinesssuccess.com/