Thank you for sharing, Dan. This is a great article on digital currency lack of intrinsic value. Understandably, it has become a convenient default argument for some. In view of the sky-high valuation and ferocious volatilities we have seen in our industry, that argument is not groundless. Well, we can blame that on the inherent human tendency of greed and fear – pushing value and the lack of it to both extremes of the spectrum – speculatively, too high or too low.

We believe that there is a middle ground. To argue that digital currency has zero intrinsic value and, therefore, a fraud because it can be worthless or worth next to nothing is a display of pure ignorance.  Over time, they will be proven wrong. There is significant value in our industry. Exploiting the true value of our industry and its underling technologies has been among our most demanding strategic challenges.

The intrinsic value is not the same as market value. Market value is established based on what the next buyer is willing to pay, greatly influenced by supply and demand and sometimes justified by the greater fool theory.

“The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.” Greater fool theory - Wikipedia.

The intrinsic value, often call fundamental value, is the actual value of an associated asset based on an underlying perception of its true value in terms of both tangible and intangible factors. DNotes 25% (before dilution) ownership of DNotes Global, Inc. is a game changer in our industry. Given the strong likelihood that DNotes Global, as be a well-managed corporation with high growth and profitability potential, the default argument that digital currency has no intrinsic value will not be applicable to DNotes. That alone will differentiate us from the rest of the pack. Of course, you must be convinced that we are doers, not dreamers. It is best that you reach your own conclusion after you have a chance to study our white paper in detail. Stay tuned.