Tag Archives: HolyTransaction

Infographic: Why are Bitcoin transactions irreversible?

https://holytransaction.com/page/Why-Are-Bitcoin-Transactions-Irreversible

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

jorge

Infographic: Why are transaction fees necessary when sending Bitcoin?

https://holytransaction.com/page/why-are-transaction-fees-necessary-in-bitcoin

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

jorge

Infographic: What is the Block Size debate, and will it lead to a hard fork?

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

jorge

Infographic: 5 reasons you should be bullish on Bitcoin!

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

jorge

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.

Satoshi

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. 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

HolyTransaction partners with Netki for human-readable address

Wallet addresses are one of the most aggressive barriers to the mass adoption of digital currency. Trying to explain these lengthy, case sensitive, intimidating strings of numbers and letters to the uninitiated is a daunting task. Much of the general population values simplicity over function, and in this regard wallet addresses seem scary and overly complex.

It is with this in mind that we are very excited to announce our partnership with Netki!
Netki makes digital money approachable and intuitive for new and veteran users alike, by transforming long and unwieldy Bitcoin addresses into human-readable wallet names. Additionally, your Netki name separates your identity from public blockchain data, providing you multiple layers of privacy, as well as multiple validations to keep you secure.
When paired with your existing HolyTransaction account, Netki will allow you to use one single Name for all of your wallet addresses. This means that you will be able to send multiple currencies, all to one domain name-like address! As of this writing Changetip is integrated with Netki. Storing your funds, tipping online, building/implementing blockchain applications, and buying, selling, and accepting your desired currency, have all just become as simple as remembering a single name, when used with supported vendors!
Your account will be automatically updated as soon as it’s ready, and the integration will be seamless from your perspective. Once implemented, your wallet name will correspond to your HT username.
Bitcoin, Litecoin, and Dogecoin will be the first coins supported, with more of your favorites coming soon after.
Netki’s solution utilizes both the decentralized Namecoin blockchain at its core and distributed DNSSEC at its edges. This combination allows users to have both control and ownership of the blockchain, while still maintaining their financial privacy. This architecture allows users to easily share their Wallet Name with anyone without having to publish it to the world via a public ledger.
Together, HolyTransaction and Netki aim to transform cumbersome wallet addresses into one shareable, easy to remember name, that will be usable by all your digital currencies. We look forward to working together to continue making the bitcoin experience both friendly and intuitive for all.

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

Satoshi