4 Oct
0
Infographic: What is MultiSig and why does it matter?
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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!
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30 Sep
0
Infographic: What is the Block Size debate, and will it lead to a hard fork?
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23 Sep
3
Gridcoin Wallet joins HolyTransaction Today!
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.
20 Sep
0
Infographic: 5 reasons you should be bullish on Bitcoin!
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4 Sep
1
HolyTransaction Telegram Bot for Crypto 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 Telegram Bot, available to users on both the Telegram and GetGems messaging platforms. The HolyTransaction Bot allows users to 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
/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 Telegram 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.
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.
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.
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2 Sep
0
Infographic: Do the capabilities of the Blockchain end with Bitcoin?
Do the capabilities of the Blockchain end with Bitcoin?
Open your free digital wallet here to store your cryptocurrencies in a safe place.
21 Aug
2
Goodbye For Now, 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.
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.