Would be nice if it included how transactions are added a bit better.

Bob sign's a transaction with his private key, then it can be confirmed that is came from Bob via the public key, and so on.

I am not posting this article because of the sensational and negative headline. In fact the headline is fine and very appropriate for this article. There has been so much negativity about Bitcoin, I might even be a little at fault for being too sensitive when I come across anything that linked bad actors to Bitcoin like the most innovative technology of our generation is faulty.

The author did such a great job with his concluding paragraphs, as follows, that I can close my case without even having to state my argument. Digital currency, like fiat currency, will be used to conduct illegal acts. Fiat currency can be used without a trace. Digital currency provides and preserves all the trace evidences. When fully implemented, digital currency, like DNotes, is far superior to fiat currency in meeting every function of money; as a unit of account, as a medium of exchange, and as a store of value. When the vast majority of the transactions are between two parties at nearly zero transaction cost, hundreds of billions of dollars will be saved in global commerce. That is what DNotes is committed to accomplish. It may take us a generation to achieve that goal but I do know that it is a worthy mission for the betterment of mankind.

“This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.”

Dutch Police Arrests Three People in Bitcoin Money Laundering Investigation

A total of six people has been arrested during police raids yesterday, which took place in The Netherlands and beyond. These police raids are a result of an ongoing investigation regarding money laundering with Bitcoin, a service offered by several individual residing in the Rotterdam area. Bitcoin’s PR problem has gotten slightly worse yet again by the look of things.


It is not the first time Bitcoin is linked to money laundering activities. However, this police investigation focuses on several individuals offering a guaranteed anonymous exchange from fiat currency to Bitcoin. This type of business is deemed illegal under Dutch national law, and it was only a matter of time until the operation was shut down.

The individuals offering this service would accept large amounts of Bitcoins in exchange for fiat currency, all the while charging a higher commission rate. Doing so enables money laundering of stolen or illegal fiat currency into Bitcoin, which will affect the Dutch economy in the long run. Customers who received the fiat currency would own illegally obtained funds, causing all kinds of legal trouble.

According to preliminary reports, these individuals have been able to launder a few million EUR through Bitcoin. All of the bank accounts and Bitcoin wallets used during the operation of this business have been frozen by the authorities. A total of three residents of The Netherlands have been arrested during the police raid, and they will be arraigned as early as tomorrow.

Police officials also confiscated various computers, drugs, weapons and any type of administrative files that could help build the case against these criminals. The three Dutch people arrested are 19, 20 and 23 years old respectively, all of whom live in the Rotterdam area.  On an international level, one 24-year old man was arrested, whom will be extradited from Malta. The other arrest took place in Latvia, and police officials are questioning this person right now.

It will take some time to fully construct the flow of money going in and out of Bitcoin through the hands of these individuals. Not all of the money sources have been unraveled just yet, nor is it clear how this team of criminals managed to get their hands on such large amounts of Bitcoin. More details will be revealed as the investigation progresses.


If there is one thing the history of Bitcoin has shown us, it is that virtual currency is not a viable tool for illegal activities. Despite Bitcoin’s association with various illegal marketplaces and less-than-legal business deals, all of these schemes have come to an abrupt halt sooner or later. The reason for this is simple: Bitcoin is not an anonymous form of money, as every transaction can be publicly tracked through the blockchain.

This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.

Source:

http://insidebitcoins.com/news/dutch-police-arrests-three-people-in-bitcoin-money-laundering-investigation/35076

Bitcoinist.net  Oct 1, 2015 9:22 AM EDT

Kris, that is one of the better bitcoin/blockchain videos I've seen.

Thanks infovortice! That's a great idea.

From a technical standpoint, can Scotland create its digital currency? Absolutely. Is that the best option for the nation? Absolutely, not. I have made several posts on this subject previously and may want to expand on this subject at another time.

It was a long day for me yesterday; driving 2 hours to attend a meeting and  3 1/2 hours to come home. Fortunately, it was a great meeting with one of the top players in Blockchain technology. Quite an impressive young man in areas covering Blockchain technology, strategies and general business issues.

I will be extremely busy the next few days but will check in when I have a chance.

Thanks, Bergman. That is the correct observation. We are committed to being respectful to everyone. That may be one of the trade secrets why DNotes and its communities have been able to accomplish so much in such a short period of time. We are very focused in problem solving and "mind our own business", avoiding the destructive consequences of dramas that have ruined so many other cryptocurrencies.

Paypal, banks, debit and credit card companies are here to stay for a long time. They will be the gateways and conduits in many of our future financial services. We will compete fiercely based on our strengths in certain areas but must cooperate where we can find common grounds and mutual benefits in other areas. Constructive business philosophy is important to business success. We are sincerely committed to represent our industry in the best of light, helping to build much need trust and respect. What is good for our industry will be good for everyone. There has never been a better opportunity for common people with little means to join force in working together for the better good of mankind.   

 

     There are many hidden benifits (and market advantages) for a company set up like this. No credit card fees. No Pay Pal fees. Huge savings in accounting (the blockchain is the bulk of the accounting dept). No bank fees. No employee thefts of funds. No cash on hand (safer work environment). The list will grow as uses for the blockchain grows.

     Smokey

I really enjoyed this article - thanks Thomas!

Forget about trying to explain the technology behind it.  It's not that they aren't capable of learning the tech, many just aren't interested in it. For women not familiar with digital currency (and even for some of us that are), p2p means nothing more than the distance to the next rest stop on a roadtrip!  However, they will be interested in what digital currency can do as an instrument of social change and women will make very powerful leaders in those areas.

Here's a possibility:

DNotes is a new global digital currency that is available to everyone worldwide.  A digital currency is simply an internet based medium of exchange, as opposed to physical cash.

DNotes is building an ecosystem of blocks that everyday people can understand.  They have savings plans for kids, students, retirement, and employee benefits.  They are also the only one to offer a safe place to store your digital currency with a 100% guarantee at DNotesVault.  They have an online cryptocurrency learning centre for women (open to everyone).   DCEBrief - news for the busy exec.

My favorite part is what it can do to include people of the world that have never been able to participate economically.  Half of the world's population doesn't have access to a bank.  Corrupt politicians and poorly run countries can make their currencies worthless.  When we support a global currency that can not be manipulated by governments, we are giving the less fortunate a chance to start a business, send their children to school, and save for their future. 

For women everywhere it is an opportunity to invest even a small amount in a very early stage investment whose potential upside is so massive, it far outweighs the risk.  With DNotes, all you need is an email address to get started.

*******************

You can also check out this thread at CryptoMoms:  http://cryptomoms.com/forum/general-discussion/9/explaining-cryptocurrency/201/

Another on Digital Journal.

http://www.digitaljournal.com/pr/2679250

Quick Update:

It looks like DNotes is trending higher at both Poloniex and Cryptsy. I am also encouraged by the increasing amount of support we have been getting.