Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 318. (Read 148866 times)

I just read that as well but you beat me to the post!  

I see this as the next (first?) step in the "sea change" of finance and banking. For years, banks have had a monopoly on the personal financial sector (not to mention business) that has slowly bled consumers dry. From deposit interest rates to loan points, banks have been fully in control of each and every one of us with the possible exception of the very rich and even they have to deal with them at one time or another and, at less than favorable terms, even for them. For the most part, the bank always wins.

This kind of power and control breeds contempt and is one of the prime drivers of crypto today. Banks have enjoyed a monopoly in the field of personal finance, not to mention business, and that only creates stagnation and fuels greed. As with most innovations, crypto has been working to re-invent itself within the field of finance and become a major player on the world stage. I submit that the appearance of fully digital/crypto online banks are the harbinger of a new world. Moving all the old standards of banking including safe haven, loans, credit cards, mortgages and business finance online, without fiat. A new world needs to start with eliminating the old one and that is happening now.

Let's face it, the crypto ecosystem does not need "brick and mortar" branch offices and 20 employees in hundreds of cities to satisfy customers needs. The overhead this will eliminate is staggering in, and of, itself. Twenty four by seven access is the holy grail of banking right now but, until now, only ATM machines and bank web sites could come close and the reality of it is that it's an illusion, and an expensive one at that for the consumer.

So, think about this for a minute: Today's crypto exchanges will be tomorrow's pioneering online, full service, no fiat banks. Is there a better fit or road to the evolution of these entities? Current thinking sees services such as Bittrex, Poloniex, Kraken and the others as mimicking the stock markets but, I see then evolving into full service online banks with crypto eventually totally replacing fiat at some future point. As far as ATM's go, they will eventually be a thing of the past like color TV picture tubes, they will yield to new technology. If everyone has access to and, could spend their funds anywhere using their cell phone or some other sort of portable electronic device, who would have the need for an ATM? No cash, no ATM. Even Bitcoin ATMs days are numbered unless they morph into a form of "crypto coin exchanger", like a hardware ShapeShift perhaps. But even here, if you can do it on a cell phone, why the need for a kiosk? I suppose in areas and countries where cellular enjoys less than 98% penetration, it would be needed, for now.

Darwin's contribution basically states "adapt or die" which fully encompasses the state of the financial industry we are dealing with today. It is a given that people will adapt by using the easier of two different choices all else being equal. Why would you drive to the bank or ATM to get "cash" when you can click an icon and your purchase is payed for? Kind of a no brainer really, cash and the institutions that support it and control us through it are as dead as the dinosaurs, they just haven't looked up at the sky, yet...
  

I just had a look at the Revolut website, and watched their promo video. On the one hand it seems too good to be true. Then on the other hand, I could never understand how banks justify a huge transaction fee when I know that all they are really doing is sending the tiniest bit of information to another institution.

My partner and I live the life of digital nomads. I get paid for work I do online and when a client wants to send me money, they usually have to wire transfer it using Western Union. This process costs us about US$40 in total. That is a lot of money for receiving instructions from one bank and sending them to another.

And when we are travelling, exchange rates are never what I find on the Internet. Some places offer no-commission exchange, but when you do the math on their rates, you're often better off paying the commission at the exchange with the better rate. The other alternative is to use the ATM and get hit with overseas machine charges and another poor exchange rate. I've even had two different multi-currency credit cards. Both cost more in fees and bad exchange rates than using the institutions' normal cards.

So half of me is wondering how they can make any money. And half of me is wondering how banks justify their fees. And all of me is looking forward to them incorporating DNotes into their system. The easier you make it for them to do that, and whatever you can do to reduce their exposure to risk, the sooner it will happen.

https://revolut.com/

Thanks for sharing this! I'll listen this on my commute.

Dnotes is very good to buy at this time i am sure we will not see this price in future, as we are heading to Q4 things will be different for D-notes Investor.

Revolut Receives $66 Million in Funding to Fuel Expansion

https://dcebrief.com/revolut-receives-66-million-in-funding-to-fuel-expansion/

Very well said.

A cohesive and efficient means of development on open source is crucial for progression. Everything we are doing is the optimal way to stand the test of time in a nascent market dominated by speculator bubbles. Prices in this industry often rise much faster than they should, and go much too far. Retracements to more appropriate levels closer to actual value sentiment are common, and should be expected. These price bubbles have come and gone, and they WILL happen again. Regardless of price, our value proposition and offering will continue to rise, and it is only a matter of time until prices reflect that as people begin to take notice.

Many get caught up in the moment: prices today that often don't reflect the real current value, nor the future of a project. The price level before a system is complete, deployed, and does what it should is inconsequential to the price that reflects the value when the system is ready and in use. This is how an investor thinks, while speculators buy and sell depending on profit levels, and what they think everybody else is going to do - a psychology based on a buying and selling market, and not really based on intrinsic or enterprise value, whether now or in the future. Enterprise value takes creates and takes care of market price. Price does nothing to create enterprise value.

I'll single out but not name one particular currency - they've been a very high liquidity traded cryptocurrency of late, and are priced in the very low satoshi price range. The timing of their whitepapers appears to be a fabrication (claiming 2012, evidence points to 2014). None of their developers appear to be profiles of real people on their about page (since removed), and a large body of evidence points to their white paper timing fabrication being a means to hide a whopping >80% "ninja" style pre-mine, while a lot of Fear, Uncertainty, and Doubt and claimed evidence is being spread (whether legitimate or not) regarding their historical blockchain being faked.  The question must be asked: "would you trust this team?", and "what exactly does said coin offer that is unique, or creates any intrinsic value at all?".  I postulate nearly no actual value exists, yet many seem happy to trade the hell out of it regardless - that coin's central purpose on exchanges appears to act as a game of pump and dumping musical chairs, and that game clearly attracts a lot of participants on an asset arguably having very little intrinsic value.

These same traders do the same thing on every market - if that game is profitable with a probably garbage-grade coin, it is a profitable strategy in all markets with real investors believing in its long-term success. Only progression in creating real intrinsic value for mainstream use, and growth in longer-term market investors can escape this manipulation mentality and create a floor value & stability in the crypto space.

Tim, it is for real. And that is not all. Think of having five employees, each speaking a different foreign language. They can still communicate but only through an interpreter.  Our preference is to use one language and in this case C#. Of course, it could have been C++, but that would limit us to the "elite" programmers - to give them some credit.

For DNotes to gain mass acceptance one day we consciously target two groups - 1) everyone worldwide - rich or poor; young or old, tech and non-tech, and male or female. 2) the business world - small or large corporations - with focus on ease of participation. Additionally, my book "Improve Your Odds - The Four Pillars of Business Success" with a chapter on the DNotes story is "a foot in the door". It helps when I have an immense experience and knowledge in new business start-ups and managing them successfully. Furthermore, I am genuinely committed to help reduce the high rate of business failures (80% + failed in the first 10 years). We truly want others to succeed and benefit in what we believe is the greatest technology revolution since the internet.

I always believe in a complete system approach. Doing parts of something and ignoring others while hoping that somehow everything will fall in place is just a wishful thinking more likely to fail than to succeed. DNotes is more than just a digital currency like Bitcoin. We constantly examine the opportunities and challenges confronting the currency, the ecosystems, and our industry as a whole.

Success in business is about identifying problems and challenges and exploit them as opportunities. Of course, it takes deep knowledge and skillful execution. We are very good at that. That is why we are confident that DNotes will be very successful and destined to lead our industry one day.

Yeah, I like that bit too. Nice post/find.

I listened to a podcast on my run yesterday. It's Andreas Antonopoulos talking about the upcoming changes in bitcoin. I definitely couldn't follow the whole discussion, but still found it super interesting/enlightening.

https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-337-no-rulers-here

There is an article out on Forbes today that may indicate there is more fuel being added to the ICO fire (bubble). It's great that institutional investors are finally starting to pay attention, but this isn't going to end well if they don't slow down, educate themselves on the industry, and do a little more research on what value these projects are actually capable of delivering.

I completely agree with this:  

"Because of this frenzy, some seasoned players in the space are refraining from jumping in. William Mougayar, general partner at early stage fund Virtual Capital Ventures and author of The Business Blockchain who organized Token Summit, wrote via email, “I don't want to be in the difficult position of explaining to my limited partners 8-14 months from now why the assets have dropped by 80% within a week.” He views the new hedge funds as helping to further inflate valuations. He plans to raise a fund after a crash or serious correction.

“If you rush gains, valuations, expectations, hype, etc... the whole thing will crash down. That is what happened in 1999/2000 with the Web. Suddenly, everything was going to be on the web, whether they were good or bad ideas, and whether they were experienced or non-experienced teams,” he wrote, adding that the same is happening with blockchains. “Reckless and greedy sentiments are leading the market. That is OK, because we need that to happen in order to flush out the bad actors and ideas from the system,” he says."


Crypto Boom: 15 New Hedge Funds Want In On 84,000% Returns - https://www.forbes.com/sites/laurashin/2017/07/12/crypto-boom-15-new-hedge-funds-want-in-on-84000-returns/#305a98a6416a

Is this for real?  I had no idea. When I read 'converting to 100% C#, I assumed a process-for-process, class-for-class port. I did not know that the existing code that DNotes, and many other alt-coin was based on, had any work-arounds or additional patches. And I was well beyond guessing that DNotes Global Inc was going to do a clean-slate rebuild and everything that implies.

This is such a major differentiation, and differentiation is recognised as critical in The Four Pillars of Business Success. I understand not hyping up things before they are ready to be delivered, but that doesn't mean you can't be clear, on your road map, about the extent to which you intend to improve DNotes.

This deserves a solid article and a video that specifically identifies some of the current work-arounds and patches being used by all alt-coins built on the same technology as DNotes. I think that this is especially prudent and valuable when so many people are trying to escape 'the cleaning' by finding a safe harbour in a cryptocurrency with a solid future.

From my prospective, the industry market-cap went up too quickly to an unsustainable level. It is now trying to seek a “technical” bottom and re-establish itself before the next up trend. The August 1st Bitcoin hard fork user activated Segregated Witness (Segwit) under Bitcoin Improvement Proposal (BIP) 148 will introduce further uncertainties and prolong the correction period. Over the short term this will be very damaging, especially, those with ICOs in the works. I believe that investors will be more cautious going forward; though the “greed factor” often lead to short memory. Best case, people will try harder to do their home before investing – a good thing for DNotes. I am certain that the thinning out cleaning process has already started.

Longer-term out-look is excellent for DNotes. The insane volatility will cause significant loss of confidence to most “real” world investors that are waiting on the side-line. More people will begin to appreciate why DNotes has elected to take a different path with a focus to create fundamental intrinsic value for DNotes stakeholders.

Especially after our recent meeting with our core development group, I am very confident that DNotes will be a technology leader within a year or two. DNotes 2.0 will be a significant contribution to our industry once we achieved 100% conversion to C#.

Think of it as a brand new garden hose as oppose to one with 100 patches from volunteers with each hose clamp tighten from 85% to 95% Tensile strength. There are inefficiencies and leaks all-over. That is the inherent problem of an open source environment, especially without strong leadership and commitment to finish the job no matter how challenging and difficult.

In reality, you can not fire a volunteer. They all believe that they have the best solution and often left the last 10% to 15% of the most challenging part unfinished. All the work-around and patch after patch lead to inefficiencies and confusions. We are committed to give DNotes 2.0 a clean start. That will give us the advantage to offer many apps we have in mind.    

I think it is tough to tell, given that that investors in projects generally don't keep their funds on exchanges, and even less so on the sell side of the order book. The bulk of current 'prices' will be set by speculators who buy with the intent of selling later on, hoping to make bank on investor contributions to a project, and other speculators pumping the price up doing the same thing after them. Of course, given the nature of every market seemingly dropping at once, I would suspect there are a significant number of whales heavily invested across many, many markets, and perhaps when conditions are more favorable in other markets in their locality (or when they have made enough money), they begin withdrawing as they can - causing a sell off with it as bots begin to execute orders, and many others begin to sell their positions.

The value, and the price of a coin are two very different things in the crypto realm. If a coin goes up in price by 5 fold in a month pr loses a similar gain, it's value may still be exactly the same - there is just an expectation that over time, the price will mirror a crypto's true value - which is what our focus is on building.  It appears no crypto is immune from these market pump and dumps, regardless of market segmentation strategy. That said, the more people who are burned by a currency, the fewer chances that currency will likely have at those customers returning. Having the real value maximized by a currency when the market is ready for real investor growth will mean more reliable price appreciation to reflect that value. We would hope that time is coming soon, to align with our plan to rapidly scale. That said, a true first cryptocurrency with an intrinsic, investor grade value could influence that market to rise in this fashion, and speed up the thinning out process. As everybody probably knows in the business world - superior products lead to more consumers, investment, and switching from rivals.

The upside in all of this, is that many currencies are now valued at less than they were - which makes for a great opportunity for investors. Volatility is expected in this industry, and this latest 'blood bath' should illustrate our point better than ever that a successful currency requires investment-grade status and intrinsic value. Time will tell whether pandering to short-term speculators and empty PR, or time-tested & winning business strategies is the better approach.

This is a pretty good no-nonsense article on blockchain technology, and unlike most of the others, it does not dismiss bitcoin and other cryptocurrencies.


BLOCKCHAIN TECHNOLOGY: A PRIMER FOR CONSULTANTS

http://www.cmc-canada.ca/consult/articles/all-topics/blockchain-technology-a-primer-for-consultants

We all know that the entrenched centralised financial systems, that are all profiting from the status-quo will fight tooth and nail to hang onto their advantage.

"According to data from the United Nations Office on Drugs and Crime (UNODC) and European crime-fighting agency Europol, the annual global drugs trade is worth around $435 billion a year."
http://www.cnbc.com/id/100957882

And in the UK, the stolen goods market was worth $2 billion in 2014.
https://www.pleio.nl/file/download/40304372

By extrapolating the stolen goods figure out using the UK GDP, a rough estimate at the annual world value of stolen goods traded is about $78 billion. Add this to the drug trade and we've got a combined trade of $513 billion. This half a trillion dollar crime industry is enabled through the anonymity of cash transactions.

"The World Bank and the International Monetary Fund (IMF) estimate the volume of money laundering to be between three and five percent of GDP, equivalent to approximately US$2.2 trillion to US$3.7 trillion annually."
https://www.infosys.com/industries/cards-and-payments/resources/Documents/money-transfer-industry-2016.pdf

The total cryptocurrency market capitalisation is only $78 billion, with $38 billion of that in bitcoin. And we also know that the vast majority of traded volume is speculative. This means that it is not traded between two people who are making a deal, but between unknown entities exchanging currencies via an alt-currency exchange.

So the idea of, to quote The European Commission, "the Commission also proposes a centralized database of crypto users and their wallet addresses" is laughable in its misguided focus. Sure, I'll be handing over my identity and crypto-wallet address, just as soon as the register of cash wallets is complete, including all cash transactions being recorded in a publicly visible ledger with 100% accuracy and tamper proof. Don't hold your breath.

Again, you've added a lot of clarity. So where I suggested "two links old", that would be fine for minor transactions, but for something more significant, more confirmations adds security, up to about six where that is a lot of work to break.


That makes a lot of sense and I can see now how people would be eager to implement that in their websites.

I really like DNOTES from the beginning and will look at the current blood bath as an opportunity to buy and stock up on some DNOTES. I believe that in any market, it can't go down like this forever..Maybe in another 2 months we will see the markets stabilize and rise again.

Do you think that that time of "cleaning" is already here? What about the August 1st? Will you keep your funds on poloniex? Sad story about this blood bath. I am in accumulation mode too, switching from coins that remained more stable to DNotes and Eth.

European Commission Report: Organized Illicit Use of Cryptocurrency “Quite Rare”

https://dcebrief.com/european-commission-report-organized-illicit-use-of-cryptocurrency-quite-rare/