The First Phase: DNotes Launch
On its 18th of February 2014 launch, I covered the DNotes (Digital Notes) technicals specs and wrote about the unique DNotes launch plan. Essentially, the DNotes team structured the coin’s launch to reward initial adopters highly. Their goal was to boost the coin’s critical early adoption phase by attracting an enthusiastic community from the get-go.
As the quadruple block bonuses for early miners come to an end today, it’s now time to consider how well this slingshot launch strategy has worked out for DNotes.
After looking into the launch, we can then better assess the coin’s future potential.
Analyzing the DNotes Launch Strategy
It’s not a very precise measure of interest, but the DNotes thread on BitcoinTalk has run to 48 pages in less than a month, with roughly 26691 views as of press time.
These numbers, compared to other such launch threads, suggests that an active community is indeed forming around the coin.
Some initial commentators were put off by the fact that a 5% pre-mine was set aside for quadruples early mining bonuses, with another 5% reserved for bounties, giveaways, development and other measures to ensure the launch strategy’s success.
I noticed myself, when I announced a very generous bounty for some simple search engine work, that BitcoinTalk can be a cynical place. Following the thread further, user “DNotes” from the development team did a good job of addressing these concerns, making it clear that the pre-mine would be used to develop and promote the coin rather than enrich insiders.
There was a minor 20 minute delay at launch – just long enough for a few pitchforks to come out – but otherwise DNotes enjoyed a relatively smooth launch.
I’d say DNote’s strategy of front-loading rewards has been something of a double-edged sword. It attracted many keen miners but also its share of detractors.
DNotes Current Situation
Twitter, Facebook and Reddit communities have been established. Currently, the DNotes team are running a promotion through their Twitter feed. Retweet their status and reply @DnotesCoin with your DNotes address for some free NOTE – further details available on CryptoSandwich.
NOTE price is heading up. By market cap, the coin is up nearly 20% in the last 24 hours, having reached #115th position with a total value of close to $50k. In Bitcoin terms, the coin is currently trading for 190 Satoshi, which is decent considering its high total issuance of half a billion.
As the large 4x mining bonuses end today, it’s expected the coin’s value will rise further as future supply contracts by 75%.
The Future of DNote
Right now, DNotes are offering a wealth of bounties for promoting them through social media, creating a DNotes exchange, producing graphics and videos, etc.
Many competions will also be run where more NOTE can be won. If you’d like to earn DNotes, there are certainly more than enough opportunities to suit your preferred method.
If DNotes continues to attract a skilled and enthusiastic community through generous bounties, it stands a good chance of overcoming resistance to become a notable alt.
Further price rises would do a lot to make the prizes and bounties even more attractive.
100 DNote Giveaway
If you’d like to increase your NOTE holdings without any of that work stuff, head on over to the official website for their 100 DNotes promotion!