Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay - page 319. (Read 148848 times)

Thank you, alaalfa, for bringing this to our attention. This is very significant. Delaware is taking the lead but one day all the remaining states will follow, including Illinois. DNotes Global, Inc is incorporated in the state of Delaware and operating its registered business in the state of Illinois. It has limited transactions and business activities at this point but that will change in the future. The path we a chosen is consistent with our vision and the likely path of state and federal regulatory registry, reporting, and licensing requirements as the industry becomes increasingly matured.

Personally, I am concerned about the reckless conducts of our industry as a whole, especially, with regards to the rampant speculative ICOs often with little to zero underlining value. I am fearful that many investors will see substantial losses in their investment with no recourse or hope that what they invested will be worth anything one day. We are already seeing a "blood-bath" that could be quite painful. And regulators will have no choice but take corrective actions to protect consumers investors.

This is a very predictable out-come and a thinning-out process, just like what happened to other emerging technology eras, including PC and dot com. Only a few survived but most vanished. DNotes will survive the test of time. Sadly, most investors in our industry don't seem to do enough home-work to separate fluff from substance. Despite significant added value in DNotes 2.0 development and other areas the value of DNotes has dropped by 75% from its high. It has been under-valued to begin with. I am in accumulation mode.  

 

That's great news to see the bill progress further. I've been following it since I heard about it. DNotes Global is incorporated in the state of Delaware. As stated, it will make the swapping of assets much easier, faster, and cheaper and make blockchain equity platforms more attractive with the first state backing it. DNotes Global is incorporated in Delaware.

https://www.cryptocoinsnews.com/delaware-passes-groundbreaking-blockchain-regulation-bill/

"Personally, I'd like to see a browser plugin that recognises pressing a micro-payment button, and pops up an approval pane. I can mouse click a 4 digit pin on a randomized-position keypad to approve amounts less than a dollar."
I like the idea. I would assume the risk and use that product in a way that prevents me from getting hurt in the event my micro payments account was compromised. However, would everyone learn the ins and outs, what that risk is, how to mitigate that risk, and if compromised would the user recognize they knowingly took on that risk and what they were risking. Would coordinated attacks be launched after a period of data collection, and make the headline news. The challenge is placing people in an environment where they cannot hurt themselves, or not have a bad experience that they correlate with your product. Once that bad experience has been correlated with your product, you stand a good chance to lose their trust. What if your 4-digit pin was based on one-time password software, built on isolated preinstalled hardware located inside your phone or as an attachment, and the 4-digit pin could only be verified just like a blockchain transaction (the other piece of information would be built into your plugin that you had to login to, well, I'm sure you get the idea).

I think that risk could be mitigated, and we could come up with solutions to make it just that easy for the user. We've even discussed trigger based warnings for systems such as you are proposing, that would help mitigate that risk. Like if the user didn't meet 5 out of a hundred typical criteria, it would prompt them for more information, or they may get an email they have to click.

"You do know your work will never end, don't you?"
Of course, that is part of the excitement!

Not to complicate the explanation, but to be specific and clear: The pay from address may not be an option, due to how transactions are sent, only under certain circumstances would the customer know the pay from address(es) or a good deal of technical knowledge they could figure out exactly what to put there. A customer could provide their txid, and you could confirm it, serving the same purpose, with much less technical knowledge.

"But DNotes2.0 will enable automatic event triggers that occur after a transaction has been processed? "
The DNotes 2.0 blockchain will allow for someone to create event triggers, that would confirm a transaction. But this may be a better way to explain it, it would be like a transaction specific decentralized API, that anyone could call anywhere in the world to confirm.

It may be worth explaining confirmations, as this is a big part of the need for this type of solution. If I have 10 DNotes in a wallet and send you 10 DNotes, you get instant notification of payment received. However, I could do that instant notification a number of times for the same coins within a reasonable time frame, provided I had the resources and technical experience to do so, but the network will agree which one is true transaction and reject the rest. The network continues along this same chain of blocks, and each block solved solidifies previous blocks as it goes. Each block solved counts as one confirmation. When there is disagreement about which transaction is the correct transaction a new chain can be created, the fork with the majority of the network agreement continues on as the strongest chain. If I had a lot of network resources, I could continue to disagree with the strongest chain, and chose which chain should be the correct chain. But I have to continue using my resources to keep my chain alive and compete for the strongest chain.

So if that made sense to you, the result is, the more confirmations you have the more you can trust that transaction. 0 confirmations is risky, 1 confirmation is pretty safe, 2 is even safer and so on. 6 is network default where received funds are spendable. If you have say an information product, and very low risk someone would go to the effort to try and cheat you, you could get away with instant notification and deliver the product immediately. Some may cheat, but the legitimate customers will still pay you. Waiting for one confirmation would be exponentially safer, but the customer would have to wait for delivery, with DNotes usually no more than a minute, in this case you could digitally deliver the product to their email after 1 confirmation or something like that. And if you are shipping product, you might as well just use 6 confirmations.

Getting back to the point, you need to be able to wait an amount of time, and check to ensure a transaction is confirmed without the customer having to wait. This system allows you to do just that, and you will be able to set any number of confirmations, depending on the value of the deliverable.

Thanks for taking the time to explain so clearly, but the fog is only lifting slowly for me.

So it is already possible for me to do some work for someone, and when it is done, send them my DNotes address and ask them to pay into it. If I'm not expecting many payments, and they are all of different values, I could spend the time working out who payed what. So accepting 0.25 cents is already possible.

Creating a new address and giving it to only one customer has the advantage that I can match that address number with the customer and prove I have been paid. So the unique number doesn't allow payment, it enables attribution.

But the payer can always provide their pay-from address in a remittance advice which will enable attribution. And if I wanted to automate, I suppose I could ask them to email me their from address, and then use ITTT to search the blockchain for a payment from that address, to my address, after the email date until it finds it in a block that is at least two links old. Then have ITTT email them the article. That would be automated, but a bit of mucking around.

But DNotes2.0 will enable automatic event triggers that occur after a transaction has been processed?

This all sounds really interesting, especially if people can set it up themselves. The paid v.s. ad-sponsored mobile application market has indicated people are willing to pay a small price rather than see advertising. And the Youtube model of paying creators with advertising revenue is skating along a cliff edge as advertisers withdraw contracts due to mildly controversial content. So the market is clearly hungry for a micro-payment solution that is secure and easy to implement.

Personally, I'd like to see a browser plugin that recognises pressing a micro-payment button, and pops up an approval pane. I can mouse click a 4 digit pin on a randomized-position keypad to approve amounts less than a dollar. You do know your work will never end, don't you?

Let's say you are a business and want to accept cryptocurrency payments, you currently have two options:
1) Run your own server with a hot wallet connected to your website, and for each transaction tell the daemon to generate a new address to accept payment, the new address acts as an invoice number. Of course, in order to do this you need a good amount of technical knowledge, custom integration as a payment solution, and as a result in house support processing and handling.
2) Pay a company a fee to accept the cryptocurrency for you.
Neither of these options make it easy to take full advantage of the strengths of cryptocurrency. With what we have developed you have a system that can automatically invoice the transaction, integrate with blockchain and cart/payment systems, automatically verify and confirm the transaction was paid, and all with very little technical knowledge and less than 5 minutes setup time with your existing IT staff. I can see where the automated part can be confusing, from the perspective of solely a cryptocurrency / blockchain solution.

Here is one of hundreds of applications. TimMarsh, you are really good at research and evaluation. Let's say you were interested in researching cryptocurrencies and providing your analysis on them. You know there is a limited market for this information and ad revenue from a website or youtube wouldn't make it worth your while. You also know that people may pay but may not want to pay a lot of money for this report and analysis, but if you could charge them a small amount, let's say 0.25 cents, they would be happy to buy access to this report. You can't accept 0.25 cents and expect to actually receive 0.25 cents, that is even if you can accept 0.25 payments. Using cryptocurrency is either too complicated, or a manual process to accept payments. But imagine if you had a wordpress blog, installed a plugin, and could automatically accept and confirm payments, automatically deliver the report once confirmed, and get the full 0.25 cents, in cryptocurrency. What we are releasing is the base for this kind of system, completely secure if you need it to be, easy to use and understand.

Congrats on a successful event, sorry I missed it. Looks like it all went very well. Perhaps you might do it again?
 

Congratulation to the man! The video says more than what it is, I like his determination to use Dnotes in daily to daily activities. I aspire this from more members.

I really missed a great day by the looks of it.

With 300 people there, and I imagine many of them were interested in the lilies, I'm sure you had many people learning about DNotes and cryptocurrencies in general there.

I'm really curious to hear from the team what sort of questions you were asked. Were there a few recurrent themes in what people wanted to know?

What were the hardest concepts to communicate?

And if there were any really unusual questions that nobody expected?

I also imagine that you were directing people to the DNotes website or other Internet locations, so I'm always curious about how that was managed. Did you need to write down the URL, did people scan QR codes, or did you just collect email addresses so you could send them a link? Maybe you had a new and more effective approach?

This all looks like everything is on track and very much heading in the right direction. I had some idea about most if it, but the Automated Invoicing both interested and confused me.

I think I understand about providing a single unique address for receiving payments. But I don't understand how the current market solution to generate unique addresses to accept payments is anything other than a choice. I don't know how or why it would be enforced by a cryptocurrency.

My guess is my knowledge gap here is then what leads me into not understanding the 'automated' part of the invoicing process. 

Brief(ish) development update

The open house went really well. It was great to take a day off from DNotes work... which for us is still about 2-3 hours of DNotes related discussions, and multiple DNotes related meetings (we can’t help ourselves). We had 6 members of our core team in one place for the first time, 3 from ~Michigan area, one from Canada, one from NZ, and another in the process of moving from Florida to Michigan. Those conversations yielded a lot in terms of updates from the programming team regarding our development progress for DNotes 2.0.

The back end of the blockchain and wallet is mostly complete for core functionality. Currently workflow is on the wallet front end, which the UX (User eXperience) design has already been finalized, with transcribing to visual C# to be completed. We will begin testing in the next few weeks and hire penetration testers to aid us in the verification process.  

Another highlight was an expert opinion regarding our updates going forward. We are now very confident that we will be comparatively well ahead of the curve by the end of 2018 (we always estimate conservatively). As everybody who has followed us closely will know, our philosophy is to never enter a race that we can not at a minimum be as good as the best competition, and then make strives beyond that to be the best in class. We also have never publicly made statements regarding our progress until we are confident we can meet all of the expectations and commitments we have set, which is rare in an industry rampant with over-promising, and hype and price levels built around platforms that are released with very limited functionality, but advertised as though the final product is ready for use.

The first update for DNotes 2.0 will contain significant upgrades on our current platform with many changes to the Stratis code base. We appreciate the contributions of the Stratis platform team - who we credit as having done some excellent work in the open source space. Because of the work completed, our development schedule will quickly add further modular updates from that starting point. We will also be doing some work to streamline the existing C# code base. Individual contributions can lead to a complex pyramid of code segments that can be better streamlined into one cohesive code structure, allowing for optimal code management and performance. We trust that our industry will benefit from our significant contributions to the C# code base in the near future.

Core updates:

Proof of Stake
Will move power of the network away from miners, and into the hands of currency users / holders who share the network's best interests. Effectively pays out an interest (~2%) for running a node on the network. Paying out the block reward to holders creates a benefit to holding the currency by means of earning 'interest' from the currency, which combined with a reduced block reward (more than half) will likely mean many fewer DNotes on the sell side at exchanges, and what is there will likely dry up over time.

Non-Staking savings accounts / CRISP 2.0
All deposits held at our secure DNotesVault will earn a further ~2% on all deposits held for 30 days or more, which encourages savings - the foundation of any healthy economy. Both the staking reward, and the CRISP reward can be earned at the same time for a total of ~4%.

Cold Staking
Users can defer privileges to stake coins from one wallet to another. So a wallet with no coins in it can be awarded the privileges to stake on behalf of an offline wallet containing many coins. This means coins are never exposed to security risks connected to the internet, and can still earn the stake reward. DNotesVault accounts will be cold-staking capable to allow DNotes holders to both run a node to earn the staking reward, and earn the CRISP savings reward - all the while having their coins held securely in cold storage.

Automated Invoicing
The current market solution to invoicing is to generate unique crypto addresses for each new user or invoice, meaning incoming payments aren't sent to a single receive address. Our solution bypasses this limitation and will allow users to utilize invoices directly without any additional burden to the consumer, allowing for full integration into existing payment gateways and financial systems.

Several third parties have popped up in the finance invoicing space using blockchain and smart contracts for both the modern world, and cryptocurrency, and the one claiming to be the 'first' are still 35 days out from their ICO. These operators do not specify if they are just applying smart contracts to the current 'solution' to invoice generation (generating new payment addresses for each invoice), and if they are not, their solution requires tokens to facilitate the process that will probably never be used as a primary payment medium. Customers must also pay to use the invoice service with said tokens. We could be the first to create a solution to invoicing that allows using the same payment address for every invoice, and most probably the first cryptocurrency to build it into its core operation layer as a feature that doesn't require third parties, doesn’t require a hosted active node, nor payment for its use. That said, third parties will likely find our solution useful to offer additional surplus services - open source contributions are useful in this respect.

C#
We are fully committed to having our platform codebase written 100% in C# - the most popular programming language used in the business world, to make it very easy for them to make the most of our turnkey blockchain deployment features.

Turnkey Blockchain Solutions
Will be activated after we first test the platform ourselves and then first demonstrate its commercial usefulness with the release of a second currency / token - which is looking increasingly likely to be done as a first DNotes seed round, before later efforts for VC. We operate to our own timeline regarding this in the best interests of the network, and we will scale rapidly at the most opportune time. The regulatory framework in the US will play a role in this decision as one of our main plans with turnkey solutions is to aid businesses in deploying blockchains for whatever purpose, and to assist them in crowdfunding and management of their business. The rules surrounding this raise critical compliance issues that will require expert legal and accounting advice. The system will route profits back into the DNotes platform itself, and further back the currency's value.

Equity backing  
The DNotes 2.0 release is our core focus at the moment, but work on several properties is underway. Some are in planning, and some are in development. DNotesVault is in the process of being upgraded, with a new logo designed and landing page mostly complete. DCEBrief is to expand in scope and/or another new property will be created to work alongside/incorporate DCEBrief.com with the intent of providing immense value to crypto-related issues via subscription and one time payments. Our goal is to be making fairly sizable profits in the traditional and crypto realms within a few years to back DNotes with, and to establish a floor price with. A basic model would be: Price = Current Value + Claimed Profits & Equity - of which the price would never rationally trade at, or lower than the value of claimed profit and equity (because everybody would rationally buy something they could make instant money on). As a thought exercise: a crazy person offers you as many real ten dollar USD bills as you like at five dollars each. You would likely purchase as many as you could, and of course, it is unlikely anybody would ever offer to make such an exchange. DNotes 2.0 will have a floor price built into it with backed equity - another industry first.

Decentralized exchange
The implementation of the second currency will likely require our completed decentralized exchange functional at release. The decentralized exchange will allow transfer of digital assets on the DNotes blockchain.

Decentralized governance
Moving to proof of stake makes it much better for putting power of the network into the hands of DNotes users, and not miners. It is important for us that decisions on critical upgrades be implemented by the choosing of the users of the network by reaching a consensus by DNotes stakeholders.


Timeline
At this point we are still looking at a September release. Our goal is to get DNotes 2.0 released as soon as possible, but to provide the highest quality product when we do. We hope to enter testing of the new wallet within the next few weeks. Most of the features above will be included in the initial launch of 2.0, with the timing of: decentralized governance & exchange / and turnkey solutions (pending second currency for testing) likely to be included for a module released later once we are satisfied they have gone through sufficient testing, and our duty to get the best regulatory advice, and to then align ourselves with that advice completed.

"A very short clip of Dave, in the excavator, who happen to be working to get paid in DNotes at the time : https://youtu.be/ptDYo4Cya84"

Everyone should get paid in DNotes! 

The pictures are great and the daylilies are absolutely beautiful - Congratulations on a successful open house!

A few of the DNotes Team




As well as some pictures from the open house:






A very short clip of Dave, in the excavator, who happen to be working to get paid in DNotes at the time : https://youtu.be/ptDYo4Cya84

Will have a few video clips ready tomorrow.

We had a great turn out at the open house, estimated 300 people showed up. There was a DNotes / Four Pillars booth, which Brandon presented flyers, books, and DNotes videos. Below is the video Alan created as a presentation for the open house. Pictures and more info to follow.

September, 2017.

Thank you, alfaalfa. I am delighted that you are seeing that opportunities are not without risk. There is always the risk of not succeeding as a result of uncontrollable factors, inherent to our industry; and there are many, including the fact that a decentralized organization such as a digital currency is leaderless.

DNotes' business model is uniquely different. DNotes as a digital currency, by itself is leaderless, just like any other digital currency. The issuance and the governance of the currency is decentralized. The value of the currency is entirely left alone at the mercy or benefit of free market forces. As we all know, price wise, there are good days, as well as bad days totally beyond our control.

We recognized the faults or pitfall of such a structure. Apparently, most people still don't get it. DNotes Global, Inc. a for profit company, incorporated in the state of Delaware, USA will make a huge difference and go a lone way in the success of DNotes. It's mission is to protect and promote the best interest of DNotes and our stakeholders with the best leadership along with the best use of resources at our disposal. And our stakeholders own 25% of this company as a gift from our generous founding investors. Additionally, I spent a whole year writing a great business book, invested a significant amount money, and granted 100% royalty free rights to DNotes Global. Unfortunately, most people are inherently dismissive. Perhaps a year or two from now, some would wonder and ask, "It was so obvious, how could I have missed the opportunity to invest in DNotes?"



  

When release POS

Thank you guys, great answers. And yes, risk creates wealth, so I am willing to all in in crypto. We don't know what can happen from here, just like we didn't know what internet was no so long ago. In my opinion, this is a revolution far greater than we can imagine. A revolution that is happening faster and faster. Somewhere, hopefully in the near future, we will look back and say "I am happy to be a part of this".