How I got into DNotes

I’m not sure exactly how or when it happened but DNotes has become my all time favorite cryptocurrency. It actually feels like it’s always been this way, even though my involvement in the cryptospace does predate DNotes’ launch.

I first heard about DNotes through Bitcoin PR Buzz. I remember reading a quote by the founder Alan Young where he stated very confidently that DNotes was designed from the ground up to be very stable (so stable that it wouldn’t work very well for speculators) and to gradually increase in value over time. Intrigued, I looked at the website and learned that it was a pretty ordinary Scrypt coin as far as the specs went. My first thought after that was “Yeah, Right!”

By that time I had seen plenty of new coins launch with great fanfare and lots of dreams for worldwide adoption and a fiat value approaching (or even exceeding) that of Bitcoin itself. And they all followed a fairly predictable pattern. First came the hype and excitement. Next came the launch. Then came the quick spike in value on the trading platform. Next came the dump followed by the ski slope (the line on the chart showing the coin losing value). Then came the burnout, and finally the death of the coin as the last exchange carrying it dropped it. Some coins continue to be mined and traded but their value has been stagnant for a long time now.

That was behind my skepticism regarding DNotes. After all, it was just another Scrypt coin. I even remember reading an early post on the DNotes Bitcointalk Announcement thread saying this coin shows no innovation.

I’m a lousy speculator, but for some reason I took Alan Young’s claim that Dnotes would not be a good coin to speculate on as a challenge. I spent about 0.01 BTC and bought DNotes at 61 satoshis each. Then I held onto them for a while. Back then the price did jump around a fair amount and I thought I could trade it back and fort a few times. Then the price shot up to over 300 satoshis. I sold, thinking I’d done good. I put in a buy order for lower than what I’d sold. But it wasn’t meant to be, as the DNotes ascent in value had only begun. The coin’s value has now settled down for the time being at 4700 satoshis. Yes, I do occasionally mentally kick myself for selling my first ones at only 300! Today a day trader might be able to do OK buying low and selling high over and over again, but it would take a large amount to make it worthwhile. Also, there’s no telling how long DNotes will hang out at its current price before the team implements the next phase in its well thought out plan, causing the price to very quickly shoot up to a new plateau, leaving any day traders who’d just sold in the dust.

After I got left in the dust I continued to watch DNotes without getting further involved for a while. DNotes was never super profitable to mine–not if you needed to sell some of what you mined to pay the bill–so it didn’t interest me that much as a coin to mine. I actually had some great runs mining, holding and then selling new coins which did appreciate dramatically for a while before they finally crashed and burned. But DNotes was never good for that sort of thing.

While I was watching it, the DNotes team continued to maintain the CryptoMoms forum, which was launched pretty much at the same time DNotes was (as far as I can tell). I had an account there but was only minimally involved in those early days. But I did think it was really smart to build a website and forum dedicated specifically to getting more women involved in cryptocurrencies. Women generally hold the household purse strings and whichever cryptocoin development team gets them involved will probably have nothing else to worry about ever again. Then they launched Firefighters for Digital Currency. Those sites were part of the DNotes plan to build assets with actual value into the DNotes package. I thought that was smart too.

At some point I started mining DNotes as my default option for my most powerful rig when it wasn’t rented out or used to mine what I thought might be a hot coin. Eventually I asked my contact at the data center to switch the operating system for my three smaller rigs from Minera to Hashra, because for some reason the DNotes mining pool would not accept shares from the rigs while they were on Minera. There were plenty of other pools out there not accepting work from Minera but the last straw came when I simply couldn’t put all my rigs on the DNotes mining pool. All my rigs are now on Hashra and both I and my renters are much happier.

My logic for choosing DNotes as my default option was that after watching it for one year, I became reasonably confident that the value was not going to suddenly drop, leaving me unable to sell what I’d mined in order to pay my colocation bill. Whenever things in real life got too busy or interesting for me to spend much time monitoring my mining operations, DNotes became the solid coin of choice to mine. It was truly a set it and forget it type of coin.

At that time the price of DNotes was hanging around 2500 satoshis.

Then one day after not paying attention for a few weeks I logged into AllCoin and found that the price of DNotes had gone up to over 4000 satoshis.

What happened? I wondered. It didn’t take long for me to find out that the DNotes vault is what happened.

The DNotes price would enjoy another price surge reaching a high of over 7000 satoshis before gradually, and I really mean gradually, dropping down to its current value of just under 5000 satoshis. Coinciding with that price uptick was the successful launch of CRISP for children, retirement CRISP, and CRISP for students, all building off the DNotes vault itself. CRISP stands for CRyptocurrency Investment Savings Plan.

I never downloaded the QT wallet for DNotes, so my main wallet is the DNotes vault. At first glance it looks like a regular online cryptowallet. But it now has some enhanced features. One great feature is that you can generate as many addresses as you want, and each address is a separate subaccount within your vault account. This means that you can have multiple accounts for multiple purposes. During the CRISP for children promotion I set up a separate address for each of my children and have been putting DNotes into it monthly ever since. I also set up separate addresses for me and my husband and have been funding those as well. When DNotes becomes accepted as a currency at more places where I would spend money, I could set up different accounts for different home budget items, kind of like the Envelopes system of budgeting. It costs nothing to transfer DNotes between vault accounts. Right now I’m looking at these initial accounts as future spending money for each member of my family.

The retirement CRISPs are five, ten, fifteen, and twenty year interest bearing accounts where you lock up the funds for that period of time. The accounts accrue monthly interest ranging from 8.4 to 12 percent a year while they are locked up. In that sense they function a little bit like a super high yielding bank certificate of deposit, but more flexible, because you can add funds at any time.

Needless to say I’ve set up Retirement CRISPs for each of my family members as well, and they too get funded monthly. Although I do play around with mining other coins with my smallest rig, the vast majority of my unrented hashing power is now dedicated to mining DNotes. It will be that way until I manage to sell my hardware. Yes, it’s for sale (if interested, PM me on Bitcointalk or CryptoMoms forum). Even after I stop mining DNotes (as in, I sell off my hardware), I will continue to buy them. In fact, it’s the thought of needing a source of funds for buying more DNotes that has motivated this sudden resurgence in contributing content to the Devtome. Every post I write here is mirrored on the Devtome and I get paid in Devcoins for my contributions. I’ll be using my earnings to buy DNotes :)

In the last few months I have gotten more involved in the CryptoMoms forum and it’s my experience there which has solidified my enthusiasm for DNotes as a truly stable and lasting currency. The most obvious thing I have noticed about the DNotes team is that it is generous. I have participated in several giveaways through the forum and they have all been substantial. We’re not talking about little bitty faucet drips here. Just to give one example, as instructed I posted a nickname and address for each of my children’s CRISP accounts that I had started. Each one was gifted with 1000 DNotes. That is close to ten Dollars’ worth at today’s prices. That has by no means been the only giveaway I or my family members have benefited from. The DNotes team is fostering wide adoption of the DNotes currency by putting it into other people’s hands. They encourage us to pay it forward as we meet and educate people about DNotes and cryptocurrencies in general.

Another aspect of my involvement with CryptoMoms which has been very encouraging is that my contributions are very much appreciated. I’ve started putting together guides on how to navigate the cryptosphere. I responded to a request for such guides that came with a promise to pay for them. I’ve gotten paid for two so far and my third one is brand new so I expect it will be compensated within the week. I’ve also started a thread exploring the possibility of building a little DNotes nest egg entirely from faucet earnings.

But it’s not just getting paid. It’s being thanked for my support and efforts. It’s knowing that people on the forum are going to be polite and have good manners. So far I have seen no trolls or flaming anywhere on the forum. That, in and of itself, is a rare and commendable accomplishment in the cryptosphere.

In other words, ordinary people with little or no prior involvement in cryptocurrencies can come to the CryptoMoms forum and know they’ll be welcomed and can feel comfortable asking any question they want. And they might just pick up some DNotes at no cost (to them) to get started.

And that’s why DNotes is now my absolute favorite altcoin.

 

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