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13 Oct 0

The 7 Best Bitcoin Youtube Video

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Satoshi
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adoption, Articles, bitcoin, cryptocurrency, cryptoeconomics, decentralization, education, video, wearesatoshi
Imogen Heap feature 009
10 Oct 1

Imogen Heap Releases New Single Using Ethereum

In a recent event at Guardian live!, popular music artist Imogen Heap talked about the release of her new song, Tiny Human, on the Ethereum blockchain. By working with BitTunes, Ethereum Developers recently demonstrated smart contract functionality by purchasing the song using Ether. Imogen started with just a thought:
“And I thought, wouldn’t it be nice if I could decide what I wanted to do with my music, who I wanted to have it for free, or not have it for free?”

She eventually found her way to the bleeding edge of technology and has now officially brought her music to the digital age with blockchain smart contracts.

Music Is Finally Entering the Digital Age

Since the days of Napster, LimeWire, and even iTunes, music has come a long way in the digital age. Before physical mediums for music storage and music playing were developed, the only way to purchase music was to buy a single listen in the form of (likely) an orchestra or choral concert. With physical medium such as vinyl, cassettes, CDs, and now MP3s, the business model changed to allow consumers to buy “unlimited” listens by having the music file. Newer services such as Spotify, Pandora, and 8Tracks have created a newer business model that returns to using the “listen” as the basic unit of measurement. Music ownership has progressed and regressed; however, the connection between artist and music buyer has only continually grown wider and wider. Imogen commented:

“…now, you get a download, but often it’s not connected to the artist in any way.”

Blockchain Technology Allows for New Possibilities

After talking about blockchain technology with her friend Zoë, Imogen realized that technology had finally reached a point where users could get a download that is connected to artists in a financial way. Imogen described her realization:“I realized there is actually a way that you can connect a file with its payment attached into a digital wallet. And so when somebody listens to a track — the technology is very close to being there — it immediately recompenses me, and then I can split it off to my choreographer, to Zoë for thanking her, to whatever, it can immediately go into their bank accounts. Instead of having to wait two years, sometimes, even more, for money to come back to me, it can be instant.”

It turns out that technology can benefit the fans, who can receive provable special attention from their favorite artist, and the artists, who can receive payments sooner and with less middle men in between. Imogen Heap’s decision to use Ethereum and blockchain technology now that she is free of the shackles of contracts made by record labels tells us something about the future. This same move toward smart contracts will be emulated in other industries. Ethereum, and by extension Bitcoin and blockchain technology as a whole, will change the world.

 About the author: Caleb Chen is a cryptocurrency advocate and research assistant at the Chamber of Digital Commerce.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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Articles, bittunes, blockchain, decentralization, education, Ethereum, Imogen Heap, smart contract, Tiny Human
7 Oct 0

New North Carolina Money Transmitter Bill Could Push Out Bitcoin Companies

How many Bitcoin companies operate in North Carolina? How many will there be? A new piece of legislation making its way through the North Carolina State Senate is attempting to enact further regulations on companies that handle digital currencies such as bitcoin. Originally sponsored by a state representative that also happens to be a vice president at Wells Fargo, the North Carolina legislature has moved forward with H289. H289 has made it through the North Carolina House of Representatives, and has started making its way through their state Senate. Luckily for us, the new senate bill S680 will not be voted on until Spring 2016. S680 is officially drafted by the North Carolina Banking Commission, which specifically mentioned that the proposed legislation is coming about as a result of requests by certain companies seeking clarity about digital currency regulation. It’s pretty easy to figure out which company that is.

The Politician Forgot to Take Off his Banker Hat

Before delving into the implication of this new update to the North Carolina Money Transmitters Act, we should consider the ridiculousness of how it came to be in the first place. The Representative that forgot to take off his hat was none other than Republican Representative Stephen Ross. Officially, his title is Executive Vice President, and he often votes on and sponsors financial industry related bills. Ross has also voted to protect officials that refuse to perform same-sex ceremonies. Such a bill has thus far only seen success in Utah.
A much better example of how to wear two hats can be found in a Virginia Representative. Mark Keam, a vice president for Verizon Communications has vowed to abstain from voting on issues that might present a conflict of interest with his Verizon job. Why this isn’t a basic requirement is still baffling to me. More importantly, Keam committed to not submitting any telecommunications bills during his time on the job. Representative Stephen Ross, from just a state south of Virginia, is truly only representative of the perceived political corruption and rot that fuels the anarchist movement. In a world where people are wearing more hats, both literally and figuratively, better rules to weed out moral hazard and stymie conflicts of interest are needed. More importantly, people who will follow these rules, and not bend them until they break, are also needed.

Coinbase Supports This Bill

As Bitcoin company BitGo’s engineer Jameson Lopp notes in a Medium article, Coinbase is the only Bitcoin company with lobbyists in North Carolina and it is believed that these lobbyists are actively pushing for more regulation of Bitcoin companies. These regulations would benefit companies such as Coinbase but would damage the efficacy of other smaller companies in North Carolina. In fact, Coinbase published a blog post where they praised the proposed legislation out of North Carolina. Coinbase wrote:
“We want to thank the NC Bank Commissioner’s office for engaging with industry while modernizing its MTA and working to make NC a welcoming place for tech innovation. Please join us in thanking both Representative Ross and Senator Gunn, who sponsored the legislation in the NC House and Senate, respectively, and in urging the NC Legislature to move quickly in passing the legislation.”

Proposed Changes May Harm Some Bitcoin Companies

Previously, the net worth requirement for receiving a license and being a fully legal Bitcoin company in the state was 100K, now it could be 250K. Depending on the volume your company handles, the surety bond that you need to provide could cost as much as 100K more than the previous $150K amount. The application fee itself has increased from $500 to $1,500 and the annual assessment fee has been raised to $5,000 and also heightens depending on transmission volume.
As Coinbase has settled itself into North Carolina. Other Bitcoin companies, such as Xapo and CoinOutlet, have announced their departure from the state. Jameson Lopp hopes that S680 can suffer a fate similar to AB1326 in the California legislature. He is working with the Chamber of Digital Commerce to create amendments to the bill that would exempt certain types of entities or activities from this legislation, and potentially give some Bitcoin companies some breathing room. However, he notes that the complete defeat of the bill is a preferred outcome.

About the author: Caleb Chen is a cryptocurrency advocate and is a research assistant at the Chamber of Digital Commerce.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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adoption, Articles, Caleb Chen, Regulation, US
5 Oct 0

Bitcoin’s Monthly Recap of September 2015

Welcome to HolyTransaction’s ninth monthly recap for the year 2015. This past month of September has been marked by some pretty developments in old cases and the long awaited release of new products; during that time, the bitcoin price rose from a low of $229.86 on September 1st to a high of $236.12 on September 30th, according to Bitcoin exchange Bitstamp.
 
Mike Tyson Proud to Be In Bitcoin, Opens Bitcoin ATM in Las Vegas
Weeks ago, Mike Tyson announced that he would be releasing a Tyson branded Bitcoin ATM in Las Vegas. The Lamassu Bitcoin ATM currently sits at the Linq in Vegas, is the 7th in Sin City, and has gathered a lot of attention. Tyson believes that Bitcoin will grow as education on it grows. He commented: “People don’t really understand a currency based on numerical equations. I personally still don’t … but I’m grateful to be a part of the revolution and hoping that my participation in this space will lead to more conversations and help increase knowledge and awareness.”
 
More Corruption in FBI Silk Road Case As Variety Johns Comes Forward
Variety Johns, the man long associated with working with Ross Ulbricht and Silk Road, has turned himself in and revealed a very convoluted tale. He claims that a corrupt federal agent is threatening the Ulbricht family and is in control of an encrypted Bitcoin wallet with Ross Ulbricht’s bitcoins. Posting to the internet, Variety Johns revealed his real name and the alias of the supposed agent hunting him: Diamond. The years old investigation into Silk Road is still ongoing.
 
21 Inc. Releases 21 Bitcoin Computer
21 Inc., one of the most well-funded Bitcoin companies in the world, has released its first product: the 21 Bitcoin Computer. At its core, the Bitcoin computer is just a Raspberry Pi 2 with an attached 21 Inc. Bitcoin mining chip that is rather efficient. The Bitcoin computer enables a developer to have full access to the Bitcoin network as a full node. Already, the computer has become the #1 best selling server on Amazon.
 
R3 Blockchain Initiative Brings 22 International Banks Together
In a sure sign of the times, many big name banks from around the world have committed to working with new Bitcoin company R3. R3 is planning a blockchain development initiative that will update the financial infrastructure that banks use to include blockchain technology, whether or not Bitcoin will be involved remains to be seen. The CEO of R3 stated: “The addition of this new group of banks demonstrates widespread support for innovative distributed ledger solutions across the global financial services community, and we’re delighted to have them on board.”

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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adoption, Articles, bitcoin, blockchain, mining, newsletter
bitcoin blockchain bank
30 Sep 2

Deutsche Bank Is Bringing Bitcoin-Inspired Blockchain Technology to Germany

In a recently translated piece by the Deutsche bank, originally written by Thomas F. Dapp and Alexander Karollus, the German bank discussed how banks in general might be able to benefit from p2p networks like Bitcoin. The authors specifically mention a hypothetical future scenario where banks might assume new tasks that still play on banks’ perceived trustworthiness – “e.g. as custodians of cryptographic keys.” Other existing centralized services might have to adapt to serve other roles in the coming decentralized world. Don’t be surprised if someday soon Bloomberg to self-proclaim themselves as an oracle? They went on to note that the politics of Bitcoin would eventually lead to a head with regulators, law enforcement, etc. However, in the face of this new technology and potential regulatory backlash, Deutsche bank still wants to push forward… Because the concept of a blockchain really is that compelling, and the banks are finally starting to get it. Dapp and Karollus wrote:“Traditional banks should not rely on the regulator now, though, but instead actively experiment with the new technologies in their labs and collaborate without prejudice in order to create their own digital ecosystem in the medium run.”

This piece was originally published by Deutsche bank in late July. Since then, the German bank has delved head first into the investigation of blockchain use. Deutsche Bank is joining Morgan Stanley, Bank of America, HSBC, and Citi among other banks in a distributed ledger initiative lead by R3. Other banks include BNY Mellon, Commerzbank, Mitsubishi UFJ Financial Group, Royal Bank of Canada, SEB, National Australian Bank, and the Societe Generale and Toronto-Dominion Bank. The international representation in the project’s participants is not to be ignored. Many of these banks have also hosted big name Bitcoin companies, at least for a few weeks. For some banks, this move is clearly away from Bitcoin and to the blockchain – whatever that means. R3 CEO David Rutter commented:
 
“The addition of this new group of banks demonstrates widespread support for innovative distributed ledger solutions across the global financial services community, and we’re delighted to have them on board.”
Why are the banks rushing toward Bitcoin now? Why are they pushing the use of the words “distributed ledger” and “permissioned database” over “blockchain?” Why didn’t that sentence contain the word “Bitcoin?” All the banks delving into this new distributed technology know that they believe in blockchains more than bitcoins. After all, bitcoins have already suffered the taint of money laundering in the pen of the mainstream media and the eyes of the undiscerning reader, of which there are way too many. HolyTransaction believes in many blockchains, as evidenced by our support of other altcoins including our most recent addition – Gridcoin.
The community still isn’t quite sure what R3 is going to be doing with all of these banks and how involved Bitcoin will be. The emphasis that released products would be open source but might move away from proof of work, which some consider environmentally unviable. R3 is leading the world’s banks to the blockchain light. Better late than never!

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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adoption, Articles, bitcoin, cryptocurrency, cryptoeconomics, decentralization
gridcoin
23 Sep 3

Gridcoin Wallet joins HolyTransaction Today!

Open HolyTransaction Gridcoin Wallet

All HolyTransaction customers can create new address for Gridcoin wallet and use the easy HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any 9 supported cryptocurrency.

Just like Bitcoin, you can now:

– Send Gridcoin to your GRC wallet address.
– Receive transactions
– Make instant transactions between HT users
– Set OTP for additional protection

We are really excited to be part of a new community!

About Gridcoin:
Gridcoin is a cryptocurrency that rewards individuals for contributing to computational research in math, science and several other areas of study with their home computer, laptop and android devices.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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Articles, crypto currency wallet, cryptocurrency, Gridcoin, HolyTransaction News, news, telegram, wallet
4 Sep 0

HolyTransaction releases Telegram Bot with Instant Cryptocurrency Conversion

 

We are excited to announce several new developments that have recently launched at HolyTransaction, in our continued effort to make digital currency easy and accessible for all.
Firstly, full conversion between Tether and our other supported cryptocurrencies is now available. Tether is blockchain-based smart property built on top of Omni Layer that is backed backed 1-to-1, by traditional currency held in Tether reserves. One TetherUST, for instance, equals one dollar. The value of each Tether never changes, meaning that there is no fear of volatility. Tethers can also be withdrawn and held in any Bitcoin wallet where you control the private key.
Secondly, we are pleased to introduce our new HolyTransaction Bot, available to users on both the Telegram and GetGems messaging platforms. The HolyTransaction Bot allows users to complete trades, view up-to-date exchange rates, and get the most recent cryptocurrency news, without ever leaving their chat client. In many countries, a strong and reliable internet connection is not always available. Our bot will allow users to conduct transactions and inquire about their favorite currencies quickly and without difficulty, all from a single chat. The HolyTransaction bot is available to users on both desktop and mobile platforms. Simply send a message to @HolyTransactionBot via either Telegram or GetGems to begin.
 

Bot Commands: 
          /exchange

  • ●  Conduct a trade between any of our supported currencies on the HolyTransaction platform.
    /getnews
  • ●  View the most recent cryptocurrency news.
    /rate
  • ●  Receive details on the current price of any of our supported currencies.
    /currencies
  • ●  List currencies available on the platform.        
      /help

            ●  List of BOT commands
Lastly, as part of the technology behind the HolyTransaction Bot, we have released a custom HolyTransaction API. Developers around the world are invited to use this new API to integrate the functionality of the HolyTransaction platform into their own projects. You will find more info to start developing here.
 
HolyTransaction is a multi cryptocurrency wallet that allows you to use Bitcoin, Litecoin, Dogecoin, Dash, Blackcoin, Tether, Omni Layer and RibbitRewards. We are committed to our users both near and far. Cryptocurrency is international, and so are we. Stay tuned for more news from HolyTransaction!

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
adoption, api, bitcoin, bitcoin news, blackcoin, bot, cryptoeconomics, decentralization, Dogecoin, litecoin, mastercoin, multi cryptocurrency wallet, newsletter, omni, ribbitrewards, telegram, tether
3 Sep 0

Bitcoin’s Monthly Recap of August 2015

Welcome to HolyTransaction’s eight monthly recap for the year 2015. This past month of August has seen a divided community and increased discussion and involvement from all the Bitcoin industry; during that time, the bitcoin price fell from a high of $280.19 on August 1st to a low of $229.86 on July 31st, according to Bitcoin exchange Bitstamp.
 
Failed Bitcoin Exchange Mt. Gox CEO Mark Karpeles Arrested in Japan
Earlier this month, Mt. Gox’s CEO Mark Karpeles was arrested in Japan in connection with his failed Bitcoin exchange. Mt. Gox was notably Bitcoin’s first major exchange and its downfall in 2014 rocked the industry. Karpeles first claimed that the missing millions from Mt. Gox were taken by a hacker, but he has not admitted to adjusting and misusing customer funds. Now that Karpeles is in Japanese police custody, many are hoping that justice will be served and the truth will come to light.
 
HolyTransaction and other Companies Leave New York Due to BitLicense
HolyTransaction and many other Bitcoin companies, notably Bitocin exchanges such as BitFinex, have banned users with New York IP addresses. The infamous New York Department of Financial Services BitLicense required companies to apply by an August date. Instead of spending the money to pay this “troll tax” a handful of Bitcoin companies have decided to warn NY users away instead.
 
Bitcoin Gains Ground Down Under
The Australian Senate Economics Reference Committee released a report in early August that took a deep look at Bitcoin. the report was titled “Digital currency – Game changer or bit player.” Australia notably enacted then rescinded a GST tax on Bitcoin transactions, an action that curbed the growth of the Bitcoin industry in Australia for awhile. Australian Labor Senator Sam Dastyari commented on Bitcoin’s renewed opportunity in Australia: “Without a doubt, the main benefit will be the confidence and certainty that removing a GST will provide to our own digital entrepreneurs, and the foreign businesses who want to set up here.”
 
Blocksize Debate Rages Between BIP 101, BIP 100, and Bitcoin XT
Different companies, developers, miners, and full node runners have all voiced their opinion on how to raise the Bitcoin blockchain block size. While companies like BitPay and Blockchain.info prefer BIP 101 for the block size increase, mining pools are casting their votes for BIP 100. Meanwhile, Gavin Andresen and Mike Hearn are still pushing for Bitcoin XT. In reality, the Bitcoin network will make its decision the way it always has: through decentralized consensus. Most recently, Bitcoin’s developers (minus Andresen and Hearn) have signed an open letter to the Bitcoin community promising to come to a technical consensus on Bitcoin scalability.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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Articles, australia, bitcoin, bitcoin news, bitlicense, blocksize
ByeNYC28129
21 Aug 2

Goodbye For Now, NYC

goodbye nyc

 

After carefully considering the recent introduction of the BitLicense, HolyTransaction has decided to suspend its business within the state of New York, until such time that more reasonable regulations are put into law. It is unfortunate that the politics in New York have led to this stifling of innovation. Our community is still new, still growing. To limit the possibilities of this technology now would be akin to cutting a flower before it has bloomed.
For those who do not know, BitLicense is over regulating in a number of unfortunate ways. First, and most often cited, is the cost for a business to obtain the license itself. BitStamp has estimated that they have paid nearly $100,000 to apply, between legal fee’s, time allocation, and maintaining compliance.
What happens when every state in the U.S., or every country in the world, crafts their own BitLicense? Businesses will be expected to pay for separate licenses in every area in which they operate; potentially a multi-million dollar requirement that could shut the lights off at many of crypto companies, leaving standing only those who have chosen to comply with rules set out by the very institutions that Bitcoin has rallied against. Abandoning business in states who insist upon excessive profiteering from unnecessary regulation is our best option for the moment.
Our most significant qualms with the BitLicense are directly related to the implications for our customers and their privacy. Some countries have taken a divisive stance on compliance that has led to outrage and feelings of betrayal amongst many of Bitcoins core users. KYC and AML laws have been forced upon every company in the U.S., for instance, that directly hold or handle their customers money. You may have noticed that wallets, or those who once allowed you to trade cash for coins, have suddenly become very interested in your private information. While it has led many to revile these companies to whom they were once loyal, the truth is that these businesses have no choice.
BitLicense makes its greatest error though in its premature attempt to define what Bitcoin is. The blockchain is such a new frontier for technology that confining the tools built on top of its framework to the parameters of “money” or “property” would be limiting. The only technology with which Bitcoin compares is the Internet, which was once considered to serve the near-exclusive function of sending super fast, super cheap messages in the form of e-mail. Consider what the Internet would be today if it had not been allowed to grow in its earliest years; if it had instead been listed as a postal technology, and had then been regulated as such. This would have limited its development and, ultimately, it would have never become the open forum of information and discourse that our modern world is reliant upon. You cannot know what a technology will become tomorrow if you insist on defining it today.
The circumstances surrounding our and many other company’s exit from New York are unfortunate, but we are holding out hope that future rulings from other jurisdictions will be more reasonable. To our customers, our friends, and our supporters who are affected by this change, we sincerely hope that you will continue to work alongside us to keep the Blockchain open and free, and that we at HolyTransaction will be able to be of service to you again very soon.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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adoption, Articles, bitcoin, compliance, cryptoeconomics, HolyTransaction News, Regulation, US
tumblr inline nsqh78t2MG1t3ciw3 500
8 Aug 6

HolyTransaction partners with RibbitRewards to further Blockchain-based rewards programs

HolyTransaction is thrilled to announce its integration with the Blockchain-based coalition rewards platform, RibbitRewards. This partnership represents a year of interaction between our two companies, beginning in 2014, and underscores our desire to continue working together for many years to come.
RibbitRewards is the first coalition rewards program built using Blockchain technology. Their platform allow companies to recognize the loyalty of their customers by awarding points that can be spent, saved, or shared with others. Additionally, RibbitRewards stands prominently out from the crowd as a result of their dedication to philanthropy; a percentage of all RibbitRewards created are donated to charity.
Ribbit.me uses extensive HolyTransaction API to make invoicing and payment processing. It will make life much easier for users with HolyTransaction account and will give ability to get new HolyTransaction account instantly for those who do not have it yet. All of this gives the users seamless experience on both platforms.
HolyTransaction multi-currency wallet users have access to storage for Bitcoin, Litecoin, Dogecoin, Dash, Blackcoin, and Mastercoin (Omni Layer). Today, we add RibbitRewards to this list.
Users will be able to receive, store, and spend their rewards via their HolyTransaction wallet, as well as exchange them instantly with one of our accepted digital currencies, as listed above. Our integration improves the experience of all users across both platforms, and we are dedicated to providing new and exciting experiences for our community and to continuing the proliferation of Blockchain technology.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
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Articles, bitcoin, blockchain, cryptocurrency, cryptoeconomics, HolyTransaction News, news, partners, ribbitrewards, spendable, wallet
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