Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 300. (Read 148866 times)

I am happy you disagree, a little discourse, now and then, is good thing don't you think? I can understand your argument and, I see your point and, I hope you are right, to a point, but, governments are well known for not following the rules, why would crypto be different? My grandfather used to say "There's more than one way to skin a cat" Why anyone would want to skin a cat escapes me but, the analogy works. I can see your point in western countries and those that at least profess some sort of "freedom" but, what about the rest? I'm a network engineer by trade, software engineer by design, entrepreneur by accident  and crypto enthusiast by desire. I can tell you this for sure, don't underestimate what any particular government will do if it benefits those in power. And the technical argument against such actions falls down when you consider that anything created by man can be destroyed by man.

We, at least most of us, live under the delusion that we are free. Nothing could be further from the truth. Most of us in the western world are "free" in the sense that we can move around, live where we want, work for whoever we wish, etc but, like the man who loves the single red rose in a field of white ones, we fixate on what is easy to see, on the surface, and look no further. In reality, most of our day to day actions have been pre-programmed for us by the nature of the society we live in and the country and values that formed it.

In the US for example, if the government wanted to truly change the socio economic balance, would they come out and say it? No, they would manipulate society through the many arms of the media and industry to get their message out "under the RADAR" as it were. We would not even realize we were being manipulated and probably don't at this very time. It is not outside their capabilities make us like or hate something to produce an outcome that benefits those in power. BTW, I'm not a conspiracy theorist, just a guy who's been on both sides of the equation.

Take for example all the crap between the Republicans and Democrats right now. How many people believe this is real? Most I'm sure. I offer an alternative reality, it is a "put on" (almost wanted to say "Trumped Up" but no...) It is designed to deflect our gaze away from the dying dollar, the crumbling infrastructure, the race wars, the north and south, the trillions of borrowed money, from China of all places, and everything else that is currently wrong with America. And we are not the only country involved.

What this long diatribe is about is simply this: If the Government of ANY country sees crypto as a real threat, there would be a concerted, mainly subliminal, effort to poison it in the minds of the people, especially those who are not yet involved, as simple as flipping a switch and this is what we must remain vigilant against. Don't let them flip that switch, understand you can be manipulated and be ready for it, resist it.

Realistically, perhaps the best way to prevent that scenario is for the good guys to beat them to it. To build the trust of the population and show them there is a better way. Too get everyone you know involved and teach them trust in the crypto infrastructure. If you fill a mind with truth, there is little room for lies.

I absolutely loath the scammers, liars, opportunist and pump and dumpers in this industry. These people are the scum of the earth and need to be made accountable for their crimes and nefarious actions. They are the 747 on the governments RADAR and they are hurting all of us with their crimes. I know, "Wild West" rules of conduct, etc. But, that way of thinking does none of us any good. Each of us should do his or her part to weed them out and expose them as a service to the industry before bigger cops than us make some ugly rules we all have to follow.

And in all this, projects like DNotes should be thought of as the "North Star" of crypto, something to be followed and gazed at. Something that will lead us to a better world. Being a leader does not always mean you have the most money or followers or biggest infrastructure, it means people look up to you as an example of what they aspire to be.

Anyway, that's my rambling on the subject, your turn...

Great discussion. As for DNotes becoming a globally traded currency, the key question is how many cryptocurrencies have the goals or are taking the steps to become globally traded currency. Many of the coins and tokens created today are to fill a very specific need or niche.

You've made some well thought out points R-J-F, and you might be happy to know that I disagree with you. But not with a great deal of confidence, because cryptocurrencies are so new that they are still anyone's game. But Chase's comment about Venezuela doubling their crypto bolivars, is the very thing that will prevent government success in the industry.

If I wanted to, in Australia, I could obtain some euros and convince the man mowing my lawn to accept them as payment by offering more than the AU$ value for his service. He could then give his mate a few of them for fuel and bait when they go out fishing. This is possible, but rather inconvenient because many people don't want to accept the euros and will charge more for doing it if they do. But in Cambodia, US$ are traded just as often as Khmer reil. Often in the same exchange, and a combination of both are passed over. This is because most people have a bit of both in their pockets.

I don't think cryptocurrencies are much different. Everything boils down to convenience and value. So if many people are comfortable with just a few of the top alt-coins by the time government tries to mandate the use of AussieCoin, people won't want to accept it and its value will reflect that. Because banning the use of particular cryptocurrencies is much harder than banning the exchange of particular fiat currencies, it would be very difficult to enforce use of a government sponsored currency over the popular one.

On top of this is the fact that there are almost 200 different countries in the world. To work out how many parallel successful cryptocurrencies there will be in the long run, I like to look at historical indicators like how many different credit cards would most people be happy to carry. Or how many different bank accounts is someone likely to manage. Looking at these sorts of questions and how humans like to organise their life in other ways leads me to believe there will be less than ten mainstream, frequently traded for goods and services, cryptocurrencies when the dust settles. It seems really unlikely to me that any of these will be a national currency because the majority of people using any of these ten leaders won't want to use another country's government cryptocurrency.

I really can't predict with confidence how likely DNotes is to be the one that makes it into the top ten for general use. But I am inclined to believe it is more likely to succeed than any government managed cryptocurrency.

I can see you've been thinking about this before, so I'm interest to know how you relate to my perspective. And I still agree that we all owe future generations our vigilance and our bias towards honest value-adding projects.

Couldn't be said any better. From the beginning DNotes has encouraged a welcoming community that was different to all of its peers. It was especially obvious back in Feb 2014 that Note had the most mature discussion of any cryptocurrency thread, focusing more on issues like education and how we will actually achieve mainstream adoption, along with planning how we will get there rather than a continual fixation on what the current price is. This mature and purposefully explained business approach to development kept everybody's expectations realistic of what to expect -- that Note is not some short-term pump and dump project, or ICO where 95% don't have the first clue how to accomplish what they are claiming. To do things properly, it takes time. Now after three and a half years we are getting ready to rapidly scale -- as we have always said we would. Along the way of this three and a half year journey, many people have come and offered to help us in the project however they can, and our encouraging and respectful culture has been the catalyst for it, not "let's go to the moon".

Excellent, RJF. Very well said.

In business, it's a big help if you can create an environment to the extend that your customers want you and help you to be successful - because they trust you and like what you are doing. I am getting the feeling that it is happening here at DNotes. Let's keep up the good work and be proud, but always be appreciative of our success and continue to work hard to earn it the honest way.

Good post Kendrick, could not have said it better myself!  Oh wait, I DID say it myself!

Quote from R-J-F August 25, 2017, 12:12:58 PM: "I think, in the end, it all boils down to a few things like ability, honesty, truthfulness, hard work and an idea that sets the project apart and fills a void that others haven't. With sound business processes and skilled leaders, the project should prosper. DNotes has always had these, ergo, prosperity. "

Great points, Kenrich.

Thank you all, please keep the discussion going. This is educational and inspirational.

I have been involved in a few impactful projects in the past and always love to be help to others when I could. Nothing could come close to the potential of DNotes, in global scale and scope to be positively impactful to the lives of a massive percentage of the population worldwide.

To be successful, DNotes must remain true to its purpose of being a trusted digital currency for everyone worldwide to participate. There will be hundreds of thousands of digital currencies – may be more. They will come in all sizes, breeds, and forms – including sovereign government digital currencies. In the mist of confusion and chaos, many will be hurt. It will harm the less knowledgeable and the innocent more than others who are there to exploit for their benefits to get rich quick.  

DNotes is preparing to expand our global reach aggressively in 2018. We have worked long and hard to build a solid foundation and a trusted brand. Let’s stay true to our missions and vision. That is how we all can come together and make our world slightly better for everyone. We are ready. Join us and help spread the words if you share our passion. We can certainly use a lot more help.

I think it boils down to the ability to be honest, honest, real, hard working, and to separate items from other things that others don't have.With good business processes and skilled leaders, projects that thrive DNote have always had these, ergo, prosperity.

I agree however, there are a lot of "sheep" out there who will do as told simply because they know no other way, this is the problem. Perhaps global is too far reaching but, regional is reasonable. It would be easy to "taint" the crypto ecosystem with govt sponsored entries that mimic real crypto but do the government's bidding. I can see this happening in the very country you mentioned and those surrounding it as well. Also, look at Russia. Yesterday they were "yea crypto! bring it on!", let the citizens have what they want. 24hrs later they are saying normal citizens will not be allowed to obtain or use crypto, only "accredited investors" What does that even mean in Russia? Only the elite and party members will have access if that statement stands. This could easily lead to the govt sponsoring a coin "for the little people" and so it will begin.

Which is why it is so important for the rest of the world to watch and listen to their lawmakers and take action when someone lights that fuse. We need to be ready to put it out before it explodes but must not burn our own beds in the process. Not an easy thing to do...

PS: I'm not an alarmist or conspiracy theorist, simply someone who has analyzed many such scenarios and presented opinions on same. Just opinions after all...

 

"Each and every one of us should be taking measures to support honest projects that have real world value and resisting the urge to make a "quick buck" on the scams or near scams that pop up almost daily. Ultimately, we are responsible for ourselves, for our future and our children's future but we have a greater responsibility to the rest of the world as supporters of a new financial order so, lets steer it in the right direction as DNotes has been doing and, I'm sure, will continue to do."

RJF - You should deliver this message to the forums of every "quick buck" coin on Bitcointalk (they need a 'little' guidance - LOL)

As far as a government issued cryptocurrency goes, it will never measure up to what can be offered by a global, decentralized currency like DNotes. They will never be able to govern with a fixed supply currency, or even one that grows at a fixed percentage as in proof of stake. The best they will ever be able to do is a centralized crypto/fiat cross that can operate like crypto but still gives them the power to control the supply - what's to stop a country like Venezuela from doubling their crypto bolivars next week? I don't see the co-operation ever being there to have a global government-backed currency, even though they may try. When people finally understand what cryptocurrency is, hopefully they will also understand that a government based one is NOT a store of long term value, and therefore nothing worth investing in.

We are encouraging everyone to use the DNotesVault as much as possible to participate in the swap, as it will be easy for the user to deposit their DNotes and won't require any further action. This will be a fairly clean and straight forward process.

Interesting. I see all this leading to Gov't created, and sponsored, crypto in the future. It may take a long time but it will come. Which, I believe, is the main reason govt's are going easy on crypto now. They don't want to regulate themselves out of the game. When the majority of citizens are aware of, and comfortable with, crypto, I think there will be a "sea change" in the way we trade and use money. It would be fairly easy for those at the top of the power pyramid to simply mandate a schedule of declining reliance on fiat and increasing use of some government sponsored crypto coin. And, that will be the dangerous time for the industry because as you all know, government does not like competition.  

All the infrastructure we have built will be available and at their fingertips. In my humble opinion, it would be dangerous to think this won't happen. The question is, will it be good or bad? And will it foster more intra country trading and financial relations or will it hinder that type of cooperation? This is why what we do here, today in the crypto-sphere is so important. Do we pave the way for a new world financial order or, are we building our own gallows?

Only time can answer those questions. I do see projects like DNotes as shining examples of what could, and can, be. Unlike men,not all cryptos are created equal. Each and every one of us should be taking measures to support honest projects that have real world value and resisting the urge to make a "quick buck" on the scams or near scams that pop up almost daily. Ultimately, we are responsible for ourselves, for our future and our children's future but we have a greater responsibility to the rest of the world as supporters of a new financial order so, lets steer it in the right direction as DNotes has been doing and, I'm sure, will continue to do.
    

 

Sounds good. Will you be using the Vault then to accomplish the swap?

I wouldn't be at all surprised if this move by the government in Vietnam is in response to strong public interest in cryptocurrencies in the country. And I really understand that. When we travel to Thailand, my partner and I often come back with a decent amount of baht on us. But when we came back from Vietnam we exchanged all our dong, despite knowing we'd probably be back soon. It is only a cheap bus ride over the border from Cambodia.

The reason we got rid of the Dong is that it is volatile. In the last ten years it has gone from a US$ costing 16,000 VND to 23,630 today. That means a US$ costs about 50% more than it did ten years ago. Even if bitcoin sat level from when it started, never increasing in value at all. If you'd bought it then, it would be worth 50% more VND today. Add that to its record breaking year on year growth for an investment, and the Vietnamese are wise to set aside some cryptocurrency as insurance against national inflation.

Vietnam is also a strong trading partner with China, and trades a lot with Thailand and Cambodia. A lot of the people in this region run their own family business, and don't have bank accounts. As cryptocurrencies become easier to use, and trading skills increase, I see this region of Southeast Asia as being likely early adopters.

I liked Z8zbLv

US Govt Requests Blockchain Solutions for Upcoming Workshop

https://dcebrief.com/us-govt-requests-blockchain-solutions-for-upcoming-workshop/

I like #5 too. It incorporated the DNotes' logo into the design well. Thank you, BTCWise. Excellent job!

Great, it looks like the majority like #5 so far. Definitely a good choice.

There are a couple issues and risks associated with upgrading the existing blockchain. We are taking the position that it is better, given the circumstances, to take on the burden of the swap process in the best interest of DNotes stakeholders. We will indeed have a deadline for the swap, TBD, and the snapshot will be based on a specific block number. Any newly mined DNotes after that block number will not be eligible for the swap.

The exchanges may elect not to participate in the direct swap, in which case they will have to delist DNotes and inform their users to remove their DNotes from the exchange. Then after a period of time, they can relist DNotes as DNotes 2.0.

If I may jump in here, a lot of work you don't want to do including collecting new addresses from everyone's new wallets and sending the equivalent amounts of DNotes 2.0 to those new wallets from the blockchain snapshot of all the old ones. A real PIA and prone to error at every step especially when sending from an exchange account. You would have to have users send you their new addresses so you know who to match old and new addresses with, not good or you could inforce a cut off date and take another snapshot of the new blockchain, again a lot of work and you will miss people who procrastinate who will make you life miserable or, it can all be done online at the users end using the vault as middleman or, put the functionality in the new wallet itself.

The Vault is a good solution. Lets users download the new wallet version at their leisure and keeps you out of it for the most part. Makes a lot of sense. Using the vault also extends the time for users to setup the new wallet. If they have DNotes on an exchange, I assume the exchange will perform the upgrade of the wallet without user intervention.

Consider making a simple account generation method for this particular function, minimal info so the user impact is as little as possible. A simple page with an address to send to and input to enter their new address after downloading the new wallet from the same page. One step for the user, send to vault, download wallet, send back to new wallet, done. Just have to make sure the new wallets are available and must be downloaded before the user does anything else.

You could also stress it would be in their best interest to open a full fledged vault account and simply keep their DNotes in the Vault. Put a time limit on it but don't make it too short, some people only check in monthly or longer. Give PLENTY of notice everywhere including asking pool operators to post a link to the instructions.

Anyone holding DNotes in their own local wallet should be sophisticated enough to use the vault for this transition. Also gives you useful data about market penetration and basic numbers on circulation.

Just my quick take on the situation...

- OR -

Build the upgrade into the new wallet. That way they can just run the upgrade (new wallet) and it will import the wallet.dat file from the old one and create the new balance. If new addresses are required, ET can phone home and have a unique one generated if you want or, do it on the fly like any QT wallet. Some extra code in the wallet but gets you totally out of the picture. Just like any other wallet upgrade to the user.

Not knowing all the details of DNotes 2.0, hope I'm making sense. If not, simply disregard!