Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 301. (Read 148848 times)

#5 - https://file.army/i/Z8z2if I like the way in incorporates the new logo...

Hi shade_wrath, thanks for joining us. To clarify - 1 option is opening your own account at https://dnotesvault.com and the DNotes in your own account will be automatically swapped to DNotes 2.0. This is the most convenient option. Option 2, is swapping DNotes by sending in DNotes to receive DNotes 2.0. Another, 3rd option, if any of the exchanges would be willing to participate in the swap process, they could be automatically swapped at the exchange.

What does an airdrop entail?

Thank you Dyna for all the clarifications. So in order for 1 to 1 swap to take place we need to sent the NOTES token to your vault account. That kinda not really a convenient process to do so to be honest. Why you don't have the option of Airdrop of NOTES coin to private wallet or may be consider getting a wallet developed for your project before you move ahead with snapshot. This wallet will be useful in future as well.
Rather than asking everyone to send tokens to you, actually it should be delivered to them as your project wants to initiate a swap. Are you planning to get Escrow's for each transfer of Notes to your vault being done during the swap period ?

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Welcome to DNotes, Shade_Wrath and thanks for the questions. Great summaries. The coin name will remain as DNotes with the notation that it’s the second generation; hence “DNotes 2.0”

The ideal place for the swap is for DNotes to be held in a DNotesVault account. The swap will take place soon after the snapshot. DNotesVault is built to handle this promptly, and securely with ease for our account holders. DNotes held in an Exchange or a private wallet is a little more challenging, since the owner of the private key to the wallet must send the DNotes to an address we provide before we can complete the swap. Other arrangements are also under consideration. We do not anticipate anyone not cooperating but it is conceivable that some may not act as promptly as we would like, or not aware of the swap. We will do our best to get the words out. We expect all our exchanges to work well with us to ensure a smooth transition.

This is a significant event. Depending on the final arrangement with each exchange where DNotes is traded, DNotes’ trading will be halted for a few days. Interruption in trading always bring about uncertainties. I never like to speculate on the outcomes of uncertainties.

We are very committed to a smooth transition and trust that this will elevate DNotes to the next level where we are on par or ahead of our competitors as a technology leader. Coupled with our ecosystem and roadmap, this is our turn to shine. I am excited and very optimistic that DNotes is now equal to and will be better than our key competitors before long.  

Sorry guys, I am new here to the Thread. So just to summarize, there is a snapshot looming where entire NOTES will be replaced by Dnotes 2.0 (Coin name not sure).
The process will be 1 to 1 Swap. For swap to happen, coins should be present where ? Also you mentioned you are still in discussion with Exchanges which may or may not support swap?
What are potential causes of concerns for investors as part of this swap? 

Those are awesome, BTCWise!

I especially like the last four, with my favorite being a toss up between #5 - https://file.army/i/Z8z2if  & #7 - https://file.army/i/Z8z5fV

I had a hard time deciding... 

I like the first one https://file.army/i/Z8zaTk

I like the 5th one....   Z8z2if

All, here are some designs from BTCWise for our YouTube channel. If you would let us know which one(s) you like best.

https://file.army/i/Z8zaTk
https://file.army/i/Z8zsnj
https://file.army/i/Z8zbLv
https://file.army/i/Z8znoH
https://file.army/i/Z8z2if
https://file.army/i/Z8zcvI
https://file.army/i/Z8z5fV
https://file.army/i/Z8zNgp


Thank you BTCWise, great job!

Thank you RJF for posting “wiser’s” blueprint proposal for Devcoin revival. Wiser is a great writer and I always enjoy her writing. She certainly knows DNotes quite well and I appreciate her kind words for DNotes.  

DNotes is one of the oldest coins in our industry. It was first launched on February 18, 2014 when there were only a few hundred coins. And now there are thousands – tens of thousands if you include assets coins. I am predicting that there will be hundreds of thousands worldwide oneday including “asset coins” Many will just come and go.

As mentioned many times in the past, DNotes is different in many aspects. As more time has gone by its uniqueness will standout more. We are still the undiscovered “rough diamond” but slowly being discovered. To me it is most rewarding to see our industry slowly recognizing some of the key elements to success that DNotes has been preaching from day one. We are a purposeful coin – so we like that. We want the best for our industry. There are massive opportunities for everyone. Therefore, it pays to collaborate and be respectful of others.

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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.

Welcome to the DNotes forum finist4x, and thank you for providing the link.

Good questions TimMarsh. DNotesVault has been very successful. It is true at some point there won't be enough funds pledged to guarantee everything, though we have many strong supporters who have pledged their DNotes in support of the DNotesVault. There are a couple things of note here.
The DNotesVault balance does not include balances from those who have opted out of the guarantee fund, as to not further burden the system, but do hold coins at the DNotesVault.
Not everyone will deposit on the DNotesVault to participate in the swap, as they prefer full control of their DNotes, and there will be a process for swapping those coins.
We plan to engage the exchanges to determine if they would be willing to participate in the swap process, we can swap their coins and they can update account holders to 2.0. In this scenario the exchange would have to announce the swap process and anyone who did not want to participate would have to remove their coins from the exchange.

I wanted to say something about success in crypto but, I ran across a recent post by "wiser" in the Devcoin forum that says everything. Devcoin supporters are working on reviving the project and soliciting ideas and advice. One of the most on point and generally well thought out posts is reproduced below. These observations could well be a blueprint to success and match well with the DNotes philosophy:

Posted in Devcoin by "wiser"

"I thought I'd chime in with a few points. Back when I got started writing for the Devtome, Devcoin was one of just a handful of cryptocoins on the scene, meaning it didn't have much competition. Now there are over 500 cryptocoins in existence, some of which are so fundamentally solid and profitable that they are attracting the interest of venture capitalists and hedge fund managers. This means we can learn even more from the successful coins and honestly stack up Devcoin against them to see what would need to be changed in order to be competitive.

The following are a few observations I have about what it takes to make a successful cryptocurrency in today's industry:

1. More and more, it is important for a new coin project to be more than just a coin. It must be a complete ecosystem. This often means multiple tokens and interlocking systems. Some good examples are the emerging VIVA project (vivaco.in), Steemit (with its Steem, Steem Power and Steem Dollars tokens), Ethereum and NEM with their block chains capable of supporting other tokens.

2. There has to be genuine value supporting the coin. This means infrastructure that makes the coin easier to use or adds value to it in some way. Bitcoin has a lot of that (example, various trading platforms, Coinbase, payment processors, websites which sell quality products and accept Bitcoin payments) which has been added on by third parties. However a new altcoin needs to have some of that value added right from the beginning by the development team itself. Some other good examples of coins with value added infrastructure include DNotes and Steemit.

3. There has to be a development team. It can't be a one man show. The bigger and better organized the team, the better chance the coin has. A development team that runs the enterprise like a genuine business is even better. This means it can't all be about coding, though that is important. There have to be others on the team who handle the outreach and marketing and who tell the coders the features needed to make the coin user friendly for non coders (which is most of the people you hope will adopt your coin).

4. A coin needs a built in incentive to tie up the supply and keep it off the market. This means that it is in people's self interest to hold onto the coin for the long haul. Idealism or faith in the coin is not enough. If I am going to hold your coin there has to be something in it for me both now and in the future. The simplest way to do this is to offer some kind of interest equivalent whereby my holding onto the coin earns me a rate of return in the form of new coins or some other token. DNotes has the DNotes vault which pays monthly "interest" to all who hold coins in it for set amounts of time (the penalty for early withdrawal being that you lose the earned interest). Diamond Coin has a cloud mining operation where people earn Diamonds based on how much Bitcoin they have donated to the operation. Any Proof of Stake coin already incentivizes people to hold the coin and run the wallet.

I have always believed that Devcoin's biggest weakness as it works right now is that it incentivizes earning and dumping, not holding. Then to add insult to injury when it became known or suspected that people earning Devcoins were dumping them, they were often harshly repudiated here (not called out by name or anything but it was clear that those who dumped were considered to be bad for the coin,). In order to hold onto Devcoins you had to be altruistic towards it and basically take the hit from others dumping, and that is just not going to be sustainable because most of us plain aren't altruistic like that. This is probably the most important change Devcoin needs to make. The coin needs to be coded in to incentivize holding rather than dumping.

Related to this, it must be assumed that people will game the system if it is beneficial to them to do so. You need to engineer your system in such a way that there is no benefit to attempting to gain the system and that using the system in the way you intend is what gives the greatest benefit to the end user. That can be very challenging to accomplish but I believe it is possible and the successful (and not so successful) coins now out there have a lot to teach us about what kind of things need to be written into the code. The code should also be flexible enough that when you find a loophole you don't want, you can fix it with an update or fork.

5. The development team needs to have a good reason to create buy support for the coin on the open market. Again, altruism is not enough. In the case of Diamond coin, the developers need to buy Diamond in order to pay the weekly payouts from the cloud mining operation. If the developers aren't buying the coin, then others need to do so for reasons of self interest. With the exception of the speculators who are there to profit from trading itself, the reason that anyone else would buy the coin has to be because they need the coin. You need the coin in order to gain the benefit from accumulating and holding it, or you need it to pay someone with it, or you need it to buy something with it. An altruistic desire to prop up the coin's value is not enough and won't be sustainable long term.

6. The coin needs to be attractive to speculators. Speculators are important because they provide liquidity for everyone else, meaning others can easily buy or sell the coin at a consistent value (not too much difference between top buy and sell requests). So whatever it is that makes speculators go "wow, I want to speculate on this coin!" is what your coin needs to have so that everyone else can have the needed liquidity to get into and out of the coin at will.

7. The coin needs to have a solid community of people who are there because being part of this community will better their financial lives in some way. They should believe in the coin but that belief should stem from solid fundamentals and the perception that this coin will do good things for their bottom line. In order to nurture this community it is very important to have basic courtesy and professionalism wherever that community gathers. That community needs to be growing.

There are probably a couple more points that I have missed, but what I have shared is a good starting point. How does Devcoin do on each of these fundamentals? How could it be changed or forked to excel in those fundamentals which are weak now? The honest discussion around these points could become the basis for a solid plan for how to update Devcoin to now be competitive in today's industry."

At the time of the snap shot, it is exactly the same - one for one.

Friends! Support your NOTE...

https://bitcointalksearch.org/topic/m.21058883

@Dyna

Thank for your answer

Will total coin supply remain the same?