Re: DNotes 2.0 - Bridging the Gap Between the Centralized and Decentralized World
Greetings everyone. What is total supply of Dnotes and what do you think about PoS on Dnotes?
Welcome Vingge, the total current supply is around 130 million
https://chainz.cryptoid.info/note/
Our next upgrade, DNotes 2.0, which we will have a 1:1 coin swap will be POS. POS is better aligned with our philosophy of shared stake, those that have an invested interest in the coin will benefit the most. Additionally, on top of the staking reward structure, we will have CRISP built into the blockchain reward system. Those who store their coins for 30 days or more in the same wallet will earn .166% (2% annual with monthly compounding), and those who store their coins in the same wallet for 365 days or more will earn 4%. As a result there will be no cap in DNotes 2.0.
NO CAP ANYMORE??
I think that whoudnt be good for the price because the value of the coin will be lost
That realy concern me and i think to move out
We all should make our own investment decision based on our comfort level and risk appetite. As a rule, never invest more than you can afford to lose in case of a total loss.
It is a good practice to maintain a balanced investment portfolio and not put all your eggs in one basket, no matter how promising it looks. Additionally, it helps to gain a good understanding of the business model applicable to the specific investment. I generally would take the highway and move on if the business model is not cohesive, incomplete, or one that I do not understand. Unfortunately, many of the offerings in our industry fall under this category. That is a little troubling.
The current DNotes model is capped at 500 million, which will not max out for generations as a Proof of Work (PoW) coin. Moving on, DNotes 2.0 is a Proof of Stake (POS) coin. It is best suited in the fulfillment of our commitment to encourage long-term savings and making it accessible for everyone to participate in the most meaningful and rewarding way. This model is pro-savings and pro-stakeholders interest verses getting rich over-night. It is consistent with out long-term push for DNotes to gain mass acceptance. Most importantly, it will work just as well today, as it will 500 years from now.
We have no doubt that this model, coupled with DNotesVault and our fully integrated ecosystems, will be proven to be far superior for our stakeholders than other models more tilted towards speculative trading. In addition, DNotes Global will be a significant contributor to DNotes intrinsic value. Our cross-ownership model will also be beneficial across a board spectrum collaboration and partnerships using DNotes as the digital currency of choice.
Edited for clarification per request:
No Cap may be misleading. The rate of growth is actually capped, based on the issuance of new DNotes for payment of staking reward (2% per year) + monthly CRISP reward (1.66% every 30 days or 2% per year) + annual CRISP reward (4% every 365 days.) The annual total is approximately 8%. That is the annual growth rate and in proportion to your ownership of DNotes, if you participate in full. If we cap it there will be a time, generations from now, we will not have the DNotes to support this program. Consequently, the reward program will end or corrected with a new fork, which can be challenging as we have seen with Bitcoin.
I am heading off to a meeting as part of my search for Board members and Board of advisors. I encourage our community to continue the discussion and further clarify this important matter. We are always mindful of the best interest of DNotes' stakeholders. Thanks.
To add to what Alan has mentioned. The rate of growth for the POS / CRISP model for the individual is proportional to the rate of growth of the network (network goes up 8% and you get 8% of your DNotes). Whereas with POW and the existing model the rate of growth is not proportional to the rate of growth for individual (network goes up 10% and you get 0%).
In the existing DNotes POW model, 1,000,000 new DNotes are created every month and those DNotes go to the miners, those that own DNotes currently do not get a share in that and this creates a drag on the value. The individual is essentially paying a 'tax' of sorts to secure the network.
In the POS / CRISP model. An estimated 850,000 new DNotes would be created in a month (it would be lower depending on the number of people who are saving for CRISP) and given to those with an invested interest in DNotes. Instead of buying mining equipment, they had to buy DNotes, in order to secure the network and generate a CRISP interest payment. The 'tax' for securing the network is instead distributed to the users.
In addition, in the POS/CRISP model. The recipients of the newly minted DNotes have significant reason to be interested in the price of DNotes, and significant reason to save rather than sell their DNotes. Opposed to the POW model where miners are incentivized to move between networks and sell just as fast as they can mine the coins.
Lastly, as Alan mentioned, it would take decades in the existing POW model, to realize any significant reduction in supply that would have a real impact on the value.
If you compare the two models objectively, in just about every aspect, POS / CRISP is more beneficial to the individual DNotes stakeholder.
As a bit of an exaggerated and oversimplified example: Imagine 100 people all in a room. Each person starts with $10 dollars. We have two options:
1) Each person gets $1 every day, but we do this forever.
2) Bob and Alice each get $50 every day, because they are the designated miners, but we will only give them $50 each for the next 100 years.
Sure, if you were Bob or Alice, you would likely vote for option 2. But if you were John or anyone else in the room, not one of the miners, which option would you chose?
I may be a bit biased, but in my opinion this is the most well thought out (and fairest) strategy I've seen for making cryptocurrency an investment for everyone. The total potential staking reward is similar to the average historical return in the stock market - 7%. Paying a staking reward out forever, allows everyone to get a relatively stable return on their investment over the years, and also means it will never be too late to start buying DNotes.
Thanks Chase! I would encourage everyone to give an opinion on this topic. This change is ultimately for the benefit of DNotes and all of it's current and future stakeholders and your feedback is important to us.