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10 Feb 0

HolyTransaction’s Bitcoin Monthly Roundup of January 2016

Welcome to HolyTransaction’s first monthly recap for the new year of 2016. This past month of January has been marked by all time highs for the year thus far; during that time, the bitcoin price rose from a high of $430.89 on January 1st to a low of $368.49 on January 31st, according to Bitcoin exchange Bitstamp.

Altcoin Exchange Cryptsy Admits to Running Fractional Reserve

Since the news broke about Cryptsy’s disappearence, the exchange has officially put forward their side of the story. Paul Vernon claims that the exchange was hacked years ago, and admits to running a fractional reserve since that date. He even offered a 100 BTC reward for whoever could find the hacker. Community speculation and the piling legal documents against Cryptsy’s founder spell more bad news for the American exchange.

Bitcoin Developer Mike Hearn Rage Quits Bitcoin

Months ago, Hearn was promoting Bitcoin XT, a hardfork that would have increased the Bitcoin blockchain block size in a brute force manner. The plan wasn’t able to garner community support, and Hearn eventually signed a deal to work with R3. Hearn also cited concerns about “Chinese miners” and the Great Firewall of China and what their involvement in Bitcoin meant for the longevity of the project. He left the Bitcoin community with a strong blog post on Medium, saying: “But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly.” Unfortunately, many in the mainstream media took this as an opportunity to hail the death of Bitcoin; but alas, the death of Bitcoin was (again) greatly exaggerated.

Corrupt Silk Road Agent Re-Arrested for Attempting to Flee Country

Shaun Bridges, one of the government agents arrested and charged in the aftermath of the Silk Road case, which the agents were instrumental in, has been re-arrested. Bridges was found with packs of packed clothes, money, passports, and other evidence that he was planning to leave the country instead of reporting for his time in jail. There is evidence that Bridges still has Bitcoin stashed elsewhere, and the plot continues to thicken.

Bitcoin Core Launches Social Media Presence for Better Communication

In a response to community outcry for better communication from those entrusted with the “original” version of Bitcoin, the Bitcoin Core team launched their social media presence this past month. They are also using popular communications platform Slack to better interface with the community. Interested users can signup at slack.bitcoincore.org to chat about the future of Bitcoin.

Digital Asset Holdings Raises $52 Million and Deal to Bring Blockchain to Australia

Former JP Morgan Chase banker Blythe Masters’ blockchain company, Digital Asset Holdings, has successfully raised $52 million for their project. The company previously bought out such bitcoin startups as Hyperledger and had been raising money through 2015 to bring the blockchain to the mainstream. The company also landed a deal with ASX Ltd., which is Australia’s main exchange operator. The blockchain is going down under, in a good way.

Thank you for reading our newsletter with the previous month’s best Bitcoin articles!

We tweet more cryptocurrency news and insights daily @HolyTransaction

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Amelia Tomasicchio

australia, bitcoin, bitcoin xt, blockchain, china, cryptocurrency, decentralization, education, news, newsletter

Articles, australia, bitcoin, bitcoin xt, blockchain, china, cryptocurrency, decentralization, education, news, newsletter

24 Jan 1

9 Best Bitcoin Video Animations

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Satoshi

adoption, animation, bitcoin, bitcoiners, decentralization, education, how to, introduction, video

adoption, animation, Articles, bitcoin, bitcoiners, decentralization, education, how to, introduction, video

18 Oct 1

What will be the future implications of Bitcoin?

Bitcoin, with it’s public ledger will evolve in a transparent and certified system. The traceability, and all the other ways of data storing annexed to it can ultimately reduce frauds, forcing key financial systems to assure responsible behaviours, something that the current Moral Ethic does not guarantee.

The Bitcoin Blockchain is based on cryptographic proof rather than trust upon financial institution, and its process is extremely transparent.

The Blockchain will guarantee improvements in organizing business operations, ranging from investor’s accountancy, to protecting the consumer.

The people that keep track of financial/banking accountancy are today in the ideal position to consider the benefits and the cons of Bitcoin, and decide how this new technology will operate inside their business model.

Hence, the administrations of industrial companies should be the first to appreciate the practical-logistic use of Bitcoin to solve and improve the monetary problems with their clients.

We’re talking about an epoch change, not just about Bitcoin:

The invention of the Blockchain and of the decentralized consensus will reduce in a significative way organizing and coordinating costs on large scale systems, and at the same time will reduce the opportunities of power concentration, corruption and State failing.

Considering the challenge, and Bitcoin’s bright future, shouldn’t we all take part in the debates that shape this innovation?

Author: Francesco Simonetti, CEO HolyTransaction

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Satoshi

bitcoin, blockchain, cryptoeconomics, decentralization, education, technology

Articles, bitcoin, blockchain, cryptoeconomics, decentralization, education, technology

13 Oct 0

The 7 Best Bitcoin Youtube Video

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

Satoshi

adoption, bitcoin, cryptocurrency, cryptoeconomics, decentralization, education, video, wearesatoshi

adoption, Articles, bitcoin, cryptocurrency, cryptoeconomics, decentralization, education, video, wearesatoshi

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

bittunes, blockchain, decentralization, education, Ethereum, Imogen Heap, smart contract, Tiny Human

Articles, bittunes, blockchain, decentralization, education, Ethereum, Imogen Heap, smart contract, Tiny Human

28 Aug 0

All 70,000 residents living in Dominica will be eligible to receive bitcoin

(CoinDesk) All 70,000 residents living on the Caribbean nation of Dominica will
be eligible to receive bitcoin as part of ‘The Bit Drop’ project, an
upcoming collaboration between bitcoin businesses, interest groups and
local government officials.

Scheduled to take place on 14th March3, 2015, The Bit Drop will feature an island-wide party boasting ‘celebrities, musicians and
supporters of bitcoin’, as well as education booths and free giveaways.

Speaking to CoinDesk, project manager Sarah Blincoe
suggested the ambitious project started with a simple question: how do
you get bitcoin into the hands of as many people as possible? From
there, she explained, a plan was launched to distribute an undisclosed
amount of bitcoin to island residents via text messaging.

While the event has serious goals, Blincoe said the group decided to adopt a lighthearted tone for the project, adding:

“Who doesn’t like a party? No one in the Caribbean, that is for sure.”

The ‘perfect location’

Dominica, with its relatively small population and gross domestic
product (GDP), proved an ideal location for the event, according to
Blincoe.

The country’s high mobile penetration rates, however, may have been
the most compelling factor. Blincoe believes Dominica’s smartphone users
will be able to solve real-world problems using bitcoin, adding:

“The island has opportunities for remittance due to many
islanders moving for work to [other] islands, as well as the local
medical university with students from around the globe. Dominica
citizens also face currency exchange issues when traveling to nearby
islands.”

Data from Eastern Caribbean Telecommunications Authority (ECTEL),
a regulatory body overseeing telecommunications in Dominica, bolsters
this claim, suggesting there were roughly 100,000 mobile subscriptions
active in the country in 2012. Additionally, bitcoin penetration is
comparatively low in Dominica.

“The young forward-thinking administration sees the long-term benefits
in the block-chain technology and is eager to support our project in any
way possible.”

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

Satoshi

adoption, education

adoption, Articles, education

20 Jul 0

Bitcoin: Education can make a difference

(TheHill) Every so often, a transformative new technology emerges that has the potential to affect everyone on the planet. But whether the technology’s potential is realized or or not depends heavily on public opinion. Positive coverage can encourage people to embrace innovation, while negative stories can make them avoid something new — or even encourage governments to legislate against it.

We’ve seen such controversies around issues like stem cell research or genetically modified foods. Some people praise their potential for curing diseases or feeding billions of people. Other people warn that these allegedly unsafe and untested technologies could be hugely damaging.

A similarly polarized dynamic has now arisen around Bitcoin, a new technology that has the potential to become a global money for a global economy. Bitcoin combines the advantages of instant online payment (like PayPal) with being a store of value (like gold). At its core is a powerful cryptographic technology called the “blockchain,” which Jeff Garzik, one of the Bitcoin protocol’s core developers, describes as an elegant and unexpected solution to distributed systems: how computers talk to each other, and how to keep them coordinated.

Many people believe that Bitcoin can make our financial system cheaper, faster, and safer. Yet, coverage rarely focuses on these benefits. Instead, stories about money laundering, drug trading, exploded exchanges, and price crashes predominate the news cycle, to the point where many people are inclined to see Bitcoin as an undesirable phenomenon. A recent Reason-Rupe poll shows that although only a small minority (8 percent) of people say that they really understand Bitcoin, the majority (56 percent) want the government to ban it.

So why are some people so positive, and others so negative?

Support for Bitcoin often comes from tech visionaries. Paul Graham, a prominent venture capitalist, refers to Bitcoin as a paradigm shift that is unfortunately “derided as a toy, just like microcomputers.” Entrepreneur Marc Andreessen has written that the potential of Bitcoin today is analogous to personal computers in 1975 and the Internet in 1993. Today, it’s the preoccupation of “nerds,” but tomorrow it can change the life of everyone. Indeed, Bitcoin is already starting to become a mainstream phenomenon, with tangible benefits for ordinary people.

Bitcoin’s critics commonly mention its role in money laundering and corruption, epitomized by the infamous underground online market Silk Road. But they often fail to mention that any currency can be used for socially undesirable purposes. In theory, Bitcoin is easier to track and regulate than paper cash, so we have legitimate reason to believe that Bitcoin’s wide adoption would lead to less criminal activity, not more.

Consider, too, that there are 2.5 billion unbanked people in the world, equivalent to eight times the population of the United States. Just by giving them access to a cell phone and Bitcoin, we have potentially added 2.5 billion people to the global economy. Furthermore, with Bitcoin, people can send money anywhere in the world, without crippling bank fees or fear of government extortion. When we consider that the World Bank expects migrants to send $436 billion in remittances to their home countries this year, the advantages could be enormous.

On top of this, you can now use Bitcoin at an increasing number of retailers. Seemingly every week, a new brand-name retailer is added to the list of merchants who accept Bitcoin, which now includes the likes of Overstock, Expedia, and OkCupid. This makes Bitcoin a credible and desirable currency in the developed world, as well.

In response to the fearmongering and lack of credible information about Bitcoin, I started an educational platform called “Bitcoin Girl” — but that’s really just the start of what we should be doing. If we want to prevent negative public opinion and uninformed legislation from crippling Bitcoin in its infancy, we need to educate the people who understand humans better than computers.

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

Satoshi

bitcoin, education

Articles, bitcoin, education

Tag Archives: education

9 Best Bitcoin Video Animations

What will be the future implications of Bitcoin?

The 7 Best Bitcoin Youtube Video

Imogen Heap Releases New Single Using Ethereum

All 70,000 residents living in Dominica will be eligible to receive bitcoin

The ‘perfect location’

Bitcoin: Education can make a difference

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