Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 251. (Read 148848 times)

Thanks MiningHabit, we agree, for cryptocurrency to reach mass acceptance it has to appeal to everyone. The VC panel at the world funding summit also addressed this issue, and one of the key contributors mentioned was a natural aversion to high risk, that has stuck with me. I believe our approach will eventually help to reduce some of that risk, as well as the impact we are having the industry.

CBOE To Enable Bitcoin Futures Trading December 10

https://dcebrief.com/cboe-to-enable-bitcoin-futures-trading-december-10/

Welcome Sonatix, you can use https://dnotesvault.com/. Either way it will direct you to https when you attempt to login.

https://moneyish.com/ish/all-the-reasons-why-women-can-be-the-future-of-cryptocurrency/

Really nice article on the gender problem in Crypto. Particularly relevant to this board, given CryptoMoms.

http://httpS://dnotesvault.com/ or http://dnotesvault.com/ true link, or both?

I would highly recommend against selling at this point. It would only guarantee and lock in a loss that might very well be reversed upon the release of 2.0 in a few months. If you don't absolutely need that money right now, what harm could holding a few more months be? If you sell and the price does go back up, you will regret it. Be patient.

Great discussion! It's going to be all about options and choices, who can meet the needs of the market. There will be a lot of competition in the near future and that is good for everyone.

Those are great points too. I think the reason the banks are slow and expensive when it comes to wire transfers (especially to customers) is in part because they can. Up to now they have not had any competition so no need to refine those processes. But when it comes to taking my money, they are fast. It takes seconds to process a credit card payment, for example. In other words, I think wire transfers, ACH deposits, and all other kinds of bank account to bank account transfers could be done faster and cheaper using the current infrastructure. And now with the block chain entering the scene as a competitor they will. At that point we'll be able to more objectively evaluate which system is truly better for those metrics.

You're right about system downtime, though that's not entirely unheard of in block chain based payment systems

These are good points, and I'd like to add what I noticed missing or disagreed with:

From the article:
"In fact, on almost every dimension, decentralized services are worse than their centralized counterparts:
They are slower
They are more expensive"

The other day I suddenly needed to buy flights from London to Australia, and my partner discovered an excellent deal that saved us about US$400. But the airline's website failed to accept Visa payment because our bank's link to the 'Verified by Visa' service was not working properly. So we tried multiple cards, transferred money between us to do so, and even tried other websites selling the flight. All failed. Fortunately my Cambodian bank was able to instantly create and use a virtual Master Card via the mobile app and make the payment. But the failure of the centralised system nearly cost us $400.

So I would add reliability to the list in favour of cryptocurrency. The system, depending on independent nodes never goes down. Banks post messages saying that mobile payments will be unavailable on [date-time] due to system maintenance on a regular basis.

Due to my profession, I often receive payments by wire transfer. This typically costs me between US$30–40. Compare that to the average bitcoin transaction fee of around $5 which is much cheaper. There are other payment options that use a percentage system for calculating fees and this gets very expensive for higher values. And when the same processing is required regardless of risk or value, there is no excuse for percentage based charges.

And my experience of bank transfers is 3–5 business days, wire transfer is more than 24 hours, and bitcoin is about ten minutes. So in my opinion, bitcoin wins on speed as well.

So the basis of the comparison appears to be seriously flawed. Then the opinion about future functionality of distributed applications might also be flawed. Currently the majority of nodes supporting blockchains are based on Proof of Work. And this was necessary at the beginning of bitcoin as the network was finding its feet. But Proof of Stake has proven to be successful and much more efficient. But POS does not do an effective job of leveraging excess processing power or unwanted storage space. That is where we're at today. That is not where we will be in the near future.

There is no reason why a hybrid POW/POS system can't be implemented that also uses unwanted storage space and network capacity. There is also no reason for the POW processing to be duplicated across multiple nodes. Imagine a node setup where the user can set their min-max processor usage, cap their Internet data, and define usable storage. Then each node could be working as a cluster of artificial-neural-networks contributing unique processing with some redundancy to an AI-SAAS. They could then earn tokens based on resource contribution. And those tokens would be worth money because customers have to purchase and spend them for AI services. This massive and unique distributed processing power would be far superior and much more stable than any centralised server options. So claiming that decentralised apps will always be less powerful might be a bit near-sighted.

After saying all that, I still think it was a well written and informative article. And I really appreciated how value was identified and discussed.

Those are some really great points you raise, and you're right, the article misses them, which I can understand why. To include everything going on would necessitate writing an entire book! The points you make, especially the part about participation, I've had an intuitive sense about those things but hadn't been able to articulate them like you just did. I guess that's why I'm involved. I've mentioned many times before how with cryptocurrencies, I'm able to participate in financial adventures that were previously only reserved for the rich, such as lending to margin traders, investing in micro-loans, etc. So yes, participation is a big thing for me.

What the article did well for me, was clearly lay out what cryptocurrencies' original purpose, value, and function really is--to essentially fuel decentralized applications. I hadn't really wrapped my head around that particular concept before.

Excellent article. Very creative writer. I agree with most of his points - like - most people do not understand what is going. Yes, many, including large investors and regulators are clueless!

Here is my favorite: "Remember how no single entity operates these networks. The flip side is that there is no good way to make decision or govern them."  It is leaderless and no single individual or entity controls it. It can be chaotic and self-destructive. That is the biggest problem DNotes has been trying to solve the past four years. Unfortunately, most people are clueless as to what DNotes has been doing and why we have elected to travel a very different path doing the right at the right time.

I agree with his argument that, legal or not, ICO is basically free money. "It's never been this good for entrepreneurs, even in the 90s dot-com boom. ... After all, an ICO lets you exit before you even launch." Above all, you don't even have to give up any ownership or voting rights.

This is too good to be true. But remember what Abraham Lincoln said, "You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time." Abraham Lincoln
Read more at: https://www.brainyquote.com/quotes/abraham_lincoln_110340

There got to be a better way. That is what DNotes is all about. We are working very hard to show you how you can participate and be a part of the best of both worlds - the centralized world and the decentralized world. Neither one is perfect. Together they compliment each other to become awesome. This is the DNotes Global, Inc. business model. As ICOs implode, we may be onto something.

Thank you to everyone who believes in DNotes enough to contribute their offline holdings to the DNotesVault guarantee fund. We are now increased to 30,150,000 DNotes for the guarantee fund. DNotesVault has just under 4,000 unique user accounts now.

Thanks wiser, great article! I read every word, but I think there are many points of interest missing from the equation, here are just a few.

Participation. People love to participate in things. Cryptocurrency, ICO's, all of the successful projects are built around the fact that everyone can participate and benefit from that participation. People will even sacrifice some functionality or ease of use for the ability to truly participate. This is why youtube is wildly successful, but it is starting to go the other way where only certain people and ideas can fully participate.

Incorruptible governance and issuance, relative to consensus. Like the issuance of money everywhere in the world, it is confusing and often corrupted to the point where many people suffer and just a few benefit. This is playing out all over the world and virtually no currency is immune, only to what extent. The incorruptible part is a little more complicated, just like bitcoin and all the forks. You may create your own fork, but unless you get other people to agree to use, as well as convince everyone not to use the original, the original will continue, or exists in it's own world despite the incompatible new rule set. The great thing is, you don't have to even agree with consensus, and start your own little consensus.

Centralized integration. All of the considerations in article exclude the posibility for a third party to take advantage of the best of the benefits of cryptocurrency and blockchain technology. The participation effect, the incorruptible governance and issuance, among many other things, and solve the other issues externally.

We understand the problems raised in the article, among others, and came to the realization that there is a best of both worlds by mixing the awesome decentralized world with the necessary centralized world and it all started with the company and shared stake concept.

Thank you both for your support!

We are working on the development of DNotes 2.0, you can see some of the updates on Github and our Screen Shots. It will be a full C# conversion, and Ken our main programmer, will be providing a major update soon.

A few of our other larger projects include:

Created the Four Pillars book and membership site and we are working on 70+ video course, which is more than half way complete and we are trying to get everything recorded by the end of the year and published soon after. The book and content will be part of our program for NextGenVC.

Working on a real world crowdfunding project that will likely be Reg A+ Mini IPO Title IV Tier 2 for DNotes Global Inc. With the intention of making sure everyone has the opportunity to invest, not just accredited investors. This will open up the opportunity to begin a large scale promotional effort for not only DNotes Global Inc, but by extension DNotes as well. There is a lot involved, legal counsel, third party escrow, and following all of the legal guidelines for the website and handling investors. The funding will allow us the ability to exponentially expand our development program, launch our NextGenVC initiative, among other things to jump start the growth and reach of DNotes.

I can sympathize, this is a fast paced industry with a lot going on, but at the end of the day we are taking the long view and trying to do the right things at the right time and the right way. We cannot offer investment advice and we always try to ensure everyone understands this is a long term project and not to invest more than one can afford to lose. At the same time, I would feel terrible if those that invested in DNotes exited before we were able to make a huge push to really give it our best effort to make the world see our vision and bring it to fruition.

I’ve championed this coin for so long. Done videos, tweets etc etc.

I visit here from time to time, and see these very long well worded comments, and responses.. which is nice.

What about DNOTES? What about 2.0?

Very close to selling and moving on.

UK Minister Signals Crypto Regulation in Works

https://dcebrief.com/uk-minister-signals-crypto-regulation-in-works/

With all respect to all Note members, how people can be convinced that some development is going on

From my perspective this is ok, because the way how crypto currency works is to resist censorship or find the balance between them. People can choose what they want. If necessary, it can only drive the technology to many another way. If nobody get involved and stop crypto currency there won't be ZoinCoin, LiteCoin, Tezos and many other. The harder the environment the stronger it will be. It's just the beginning.

This is a great article explaining what Bitcoin and cryptocurrencies are, and why they are valuable, why they might turn out to not be valuable. It's probably one of the best nontechnical explanations for the entire cryptocurrency phenomenon I've read in a long time. I learned a lot reading it.

https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

Thanks for sounding the alarm R-J-F, this does look like the thin edge of the wedge, and if not pushed back against could erode freedom in many ways as you insightfully pointed out. But even so, it is a trade I would be willing to make if it encompassed everything relating to:

"bill S.1241 that aims to criminalize the intentional concealment of ownership or control of a financial account."

This is because it would include concealing funds by running shelf companies in countries with financial laws that encourage hiding wealth. It would include bank accounts that are being used to give and receive bribes. It would include bank accounts in countries that ask no questions and strictly maintain privacy. These accounts are used for siphoning off a country's wealth into the accounts of political leaders and their families. All this seems great.

But it would be very unfair to mandate all cryptocurrency holdings are declared, but not mandate all cash or other instruments of transferable value are not also declared. 

I don't know how it is in the US, but in Australia you can't make a law that can't be enforced. And you can't make a law that enables enforcers to use a wide amount of discretion. So a law must be specific enough that all infringements should be charged. This stops the law from being used as a tool to harass or coerce individuals.

As I understand it, KYC laws are aimed at stopping criminals from laundering money, and to stop terrorists from accessing funds. But unfortunately the term 'criminal' for KYC seems focused on drugs and theft, not white collar crime, abuse of position, or tax evasion. So what instruments KYC applies to appears to be the tools for transferring value that drug dealers have access to, but exclude the tools for transferring value used by tax evaders.

Does anyone want to help me set up an ICO for ArtCoin? "It is not a cryptocurrency, it is art." Every address on the blockchain is an expression of the beauty uncovered by mathematics. Owning an ArtCoin is the same as owning any other piece of art and is subject to those same laws." Or as Rene Margritte would have said if discussing the treachery of cryptocurrency, "This is not an alt-coin."