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bitcoin fork

Bitcoin fork: why developers keep calm

Right now the debate about a possible Bitcoin fork is very noisy and maybe it is the main factor that is driving the cryptocurrency price at the moment.

At press time, bitcoin value is less than $1000 with some traders that are liquidating their positions.

Amidst one of the more volatile period of bitcoin, developers seem not to be scared or worried about this two-year scaling debate.

Several miners are running the so-called solution “Bitcoin Unlimited“, a popular alternative bitcoin software that opened a discussion of a possible fork of the network which could generate two different digital currencies, a result similar to what happened with the recent Ethereum hard fork that lead to the creation of Ethereum Classic.

 

Bitcoin Core contributor Eric Lombrozo has taken a skeptical point of view, explaining that the bitcoin community is not new to this issues.

Bitcoin XT and Bitcoin Classic,  or other software alternatives that aims at changing the bitcoin blockchain- related rules, have emerged, but also declined, over the last few days.

While users who support the Bitcoin Unlimited think that is the real future for bitcoin, arguing that a bitcoin fork will bring it as the winning software, critics view it as broken.

Lombozo explained:

 

“The idea you can change bitcoin by lobbying one group of stakeholders against another is fundamentally flawed, as is the idea you can force controversial consensus rule changes. Bitcoin requires more tactful politics.”

On the other hand, Bitcoin Unlimited supporter Peter Rizun believes that bitcoin will see a block size increase, making bitcoin competitive with the other alternative cryptocurrencies.

“In my opinion, there’s a 75% chance we get an upgrade to larger blocks in 2017,” he commented.

So, while some people substain that only one software will be able to survive after this possible bitcoin fork, other experts suggested that most people won’t move to a new blockchain, so Bitcoin Unlimited will lead to another digital currency.

But, of course, the greatest part of the community want only one bitcoin.

Bitcoin Core contributor Luke Dashjr said to Coindesk:

“A hard fork is by definition an altcoin that the entire community decides to adopt as a replacement. Since most of the community rejects Bitcoin Unlimited, it is impossible for it to become a hard fork. Anyone can fork at any time. That people don’t speaks to the strong incentives not to.”

 

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

Amelia Tomasicchio
gamecredits api

GameCredits will release its free to use API

Gamecredits Inc wants to change the cryptocurrency market, by releasing its free to use API.

Gamecredits is a digital currency payment solution that can be used within any videogame.

Developers who want to accept gamecredits payments can decide to reduce fees by up to 20%, eliminating chargebacks and increasing user deposit limits and payments speed.

Gamecredits provides all these benefits and takes 10% of game developers revenues, instead of the usual 30% charged by Apple, Google or Steam.

In order to avoid the current issue and let users change their habits starting to use digital currencies, Gamecredits offers several features, so gamers can find coupon codes for the cryptocurrency just by playing their videogames.

The announcement of the release of Gamecredits API comes after the recent announcement of Gamecredits Mobile Store that is set to launch this spring with more than 300 games that will receive instant access to the API.

You can buy or exchange your Gamecredits by using our wallet, as we at HolyTransaction recently integrated this digital currency into our platform.

By using HolyTransaction wallet, you will be able to:

  • Send Gamecredits to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange Gamecredits with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

Open your Gamecredits wallet here. You just need an email account and the process can be done in only 1 minute.

 

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

Amelia Tomasicchio

Nevada stops blockchain transactions taxes

A new bill has been proposed to the Nevada Senate and, if it pass, will stop local taxes and fees on the use of a blockchain ledger, both for payments and contracts.

Nevada Senate Bill 398 was filed yesterday and presented by Senator Ben Kieckhefer, who wants to create a legal level for the use of blockchain-based networks.

Notably, this bill will also stop local governments asking for taxes on the use of the distributed ledger or to require a special licensure in order to use it.

This new proposed bill explains:

“A local governmental entity shall not: Impose any tax or fee on the use of a blockchain or smart contract by any person or entity; Require any person or entity to obtain from the local governmental entity any certificate, license or permit to use a blockchain or smart contract; or Impose any other requirement relating to the use of a blockchain or smart contract by any person or entity.”

If this bill pass, its benefits won’t be applied only to these potential economic expenses.

Kieckhefer’s suggestion, in fact, will allow blockchain records to be used in proceedings, noting that “if a law requires a record to be in writing, submission of a blockchain which electronically contains the record satisfies the law”.

“A smart contract, record or signature may not be denied legal effect or enforceability solely because a blockchain was used to create, store or verify the smart contract, record or signature. In a proceeding, evidence of a smart contract, record or signature must not be excluded solely because a blockchain was used to create, store or verify the smart contract, record or signature,”the proposed bill states.

Last month a similar proposal was made in Arizona, or a further move to legitimize the use of blockchain distributed ledger; a previous effort was also proposed in Vermont back in 2016.

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

Amelia Tomasicchio
bitcoin exchange regulation

Bitcoin exchange regulation in China

Soon a new bitcoin exchange regulation in China may be required to ensure know-your-customers (KYC) verifications.

According to an article published by Caixin, the People’s Bank of China issued a new paper for the Chinese exchanges on which it is looking for comments for the proposed regulation.

This move is part of a effort by the Chinese central bank in order to have a bitcoin exchange regulation and avoid money laundering and other financial crimes.

According to the official press release, this paper explains both a regulation related to the anti-money laundering (AML) issues and the creation of a customer identification system.

Bitcoin users will have to own an on-site certification if they want to deposit funds. To do se, they will have to present identification at the time of registration. Also, for clients who hold more than ¥50,000 (over $7,200) in volume, a remote video certification will be required to authenticate their own identity.

The document also contemplates that there must be a senior management team who controls AML procedures and reports dubious transactions.

This news come after the PBoC’s decision made back in January that indicates to intervene in the Chinese bitcoin market during this period of heavy bitcoin price volatility.

Since then, bitcoin exchanges started to implement several new policies, ending margin trading and freezing withdrawals for a few cryptocurrencies.

At the moment, while I’m writing this article, bitcoin Chinese exchange withdrawals are still frozen.

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

Amelia Tomasicchio
trump bitcoin

Trump Bitcoin – related new project: how will he use the Blockchain?

The newest Donald Trump Bitcoin – related project was announced this week during the DC Blockchain Summit held in Washington.

US regulators and officials explained their goal of increasing the adoption of blockchain technology within the government and the American private sector.

Also, a few representatives of President Trump, talked about the potential use cases of the distributed ledger, commenting that they are developing a new Trump Bitcoin project related to the public policy.

In fact, they underlined the ledger potential to streamline bureaucracy, empower consumers and drive economic growth.

Chief economist for Vice President Mike Pence, Mark Calabria, gave a speech in which he explained how the Donald Trump administration wants to exploit the blockchain technology and what possible applications can have the tech in government and finance, as Treasury Department is conducting a review of the whole American financial system.

“We are approaching this with an open mind. We recognize that we’re not necessarily the innovators, but what we can do is get out of the way and figure out where the government stops you from being innovative.”

Trump Bitcoin project benefits

The co-chairs of the Congressional Blockchain Caucus asserted that they are looking for understaning how the tech could be developed to be used within the public sector.

“We’re very interested in helping to facilitate the deployment of blockchain technology in federal agencies and across the government. Our role is to prod government agencies to look at more efficient ways of doing things,”  said Jared Polis.

Republican co-chair from Arizona, David Schweikert,  argued that one of the main goals is to keep policymakers updated about the technology’s potential .

“How do those of us who do policy not leap ahead and screw up what we don’t know is coming tomorrow? Sometimes those of us who get elected are arrogant sometimes in what we think we know. How do we help our brothers and sisters in congress understand this isn’t just about cryptocurrency? There’s an incredible world out there that’s so much bigger.”

 

Public and private

That said, private sector has a major role to play in the government’s blockchain adoption.

Managing director of financial services at Accenture, David Treat, explained that the public sector is not just a political advertisement.

“It was a completely different dynamic of not being reactive and not being, ‘Tell me what you did, and let’s opine on whether that was good or OK.’ It was actually, ‘We see this thing on the horizon, we know it has relevance – can you teach us?'”

Also, blockchain experts and analysts argued that its adoption by the government might help to normalize it for use in other sectors.

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

Amelia Tomasicchio
bitcoin price

Bitcoin price: one month above $1000

According to the Coindesk Price Index (CPI) Bitcoin price has reached a new goal, as it is one month that its value is above $1000. 

The digital currency remained above this value despite any situation as the refusal of the bitcoin ETF related proposal by Cameron and Tyler Winklevoss, and the current debate over how to address the bitcoin’s technical limitations.

It was February 14th – is it a coincidence or a sign of destiny that this happened on the Valentine’s day? –  when Bitcoin price first hit $1000, so yesterday (March 14th) it was one month above this price.

During this month, bitcoin reached its all time high, reaching a value of $1,300. Experts argued that this higher price was a consequence of the hope in the bitcoin ETF approval.

But, if it is true that right after the SEC negative decision, the bitcoin price fell of about 30% ($from 1209 to $1022), it quickly rose again and at press time bitcoin is trading at $1256, so more than 25% above $1000.

As explained by Andreas Antonopoulos on his official Twitter profile:

“If you measure bitcoin’s success by the approval of the incumbent and obsolete industry it replaces, you’re doing it wrong”.

Also, currently a few altcoins such as Ether, Dash, Zcash and more are experiencing new highs.

 

 

 

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

Amelia Tomasicchio
bitcoin etf

Bitcoin ETF decision expected by Friday

The US Securities and Exchange Commission (SEC) has to make an important decision related to the much-anticipated bitcoin ETF, or the bitcoin-based exchange-traded fund.

This decision is expected by Friday, as the SEC has an deadline fixed on March 11st to make the approve or disapprove a proposed rule change that would allow the creation of the first worldwide bitcoin ETF.

But, because the 11st falls on a Saturday, this decision could come before that date, maybe on Friday.

The proposal came three years ago, in mid 2013, by investors Cameron and Tyler Winklevoss.

If the fund receives approval, several experts speculated that bitcoin price could grow and maybe this expected approval already drove the bitcoin price in recent weeks, setting new all time highs in the recent period.

In fact, Bitcoin price neared $1,300 in recent days, reaching $1,293.47 on 3rd March.

By the way, bitcoin price kept falling back to $1,300, experiencing a drop on 7th March, when markets drop below $1,200 for a few hours.

Otherwise, if the SEC decides to reject the proposal that would allow the Bats Global Exchange to list the bitcoin ETF, experts said that the digital currency price would be negatively affected.

Phil Bak, CEO atACSI Funds explained that generally the SEC wants to avoid the appearance of “publicly rejecting an ETF”, so if the agency didn’t plan on approving a fund, it would ask for the filing to be pulled ahead before any final decision.

“In this case, the government agency may want to show the world it is unsure about bitcoin. Alternatively, it could also be that the advocates want to support it to the end and let this proposed fund get its day in court, rejection or not.”

In the lack of definitive statements published by the SEC, it’s really easy to understand why a common return of uncertainty has emerged during this week.

Arthur Hayes, CEO at BitMEX, explained:

“I have heard good arguments for and against the ETF being approved. At this point it is a coin toss.”

 

Waiting for the Bitcoin ETF

At the moment people who are waiting for the SEC’s decision canno do anything instead of only watching and waiting for the 11th March deadline.

ETF expert and co-founder at RagingBull,  Jeff Bishop, commented that the SEC could make its decision further past the 11th, also because of the recent price gain.

“I have the feeling they will find a way to delay this even more though. With bitcoin at all-time highs and the SEC having a terrible record for allowing new ETFs to come to market at absolute tops, they will likely push back on this until things cool a bit. It should be up to investors to decide the true price of bitcoin. The more liquidity and options [there are] to trade it, the more transparent and accurate the pricing will be. It should not be up to a government agency to withhold something like this from the public.”

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

Amelia Tomasicchio
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blockchain academy

Blockchain Academy: a new institution in India

Kerala will soon host its own blockchain academy, the second institution to be opened in India.

This became possible thanks to a new collaboration between the Indian Institute of Information Technology and Management Kerala (IIITM-K) and the Blockchain Education Network (BEN).

This new Blockchain Academy will be focused on innovation and tech consulting. Specifically,  of course the academy will explore the distributed ledger use cases related to banking, healthcare and governance.

The first Indian blockchain academy was organized by Primechain Technologies Private Limited based in Baner, near the well-known city of Mumbai and it offers a few different courses for both developers and curious people who aim at knowing more about the tech.

Recently, a new Kerala enterprise was announced by Dr. Rajasree during the blockchain conference held at the Technopark in Kerala’s capital Thiruvananthapuram, according to an press release.

This speech also featured Senior research scientist for IBM Research Labs, Dr Dilip Krishnaswamy, and Michael Gord of the BEN, who explained about the blockchain benefits through a video conference.

IIITM, or the institution that co-founded this new academy, supports the so-called “Maker Village project” in the Keralan city of Kochi. Maker Village is an electronics incubator that sees the blockchain as a relevant topic related to the development of new IoT solutions for machine-to-machine payments.

India has always been interested in bitcoin and blockchain news.

For example, last week, Reserve Bank of India (RBI) deputy governor Rama Subramaniam Gandhi explained that digital currencies are “being overstated”. In fact, according to him, Bitcoin’s lack of central authority and pseudonymous nature mean cannot replace fiat currencies.

Also, RBI recently published a new research on how they want to digitize the rupee, or the country’s bank-issued currency,  with the main goal of avoiding the use of cash money within the Indian economy.

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

Amelia Tomasicchio

Peercoin price surged of about 20%

Bitcoin, Ether, Dash and now also the Peercoin price: it seems that the market value of the whole digital currencies world is growing.

Recently, in fact, Peercoin price surged of about 20% in the latest hours.

In fact, at the press time, its value reached $0,477882 (22.49%) or 0.00037581 BTC (20.82%).

Also, Peercoin market cap reached $10 M a few hours ago.

Peercoin was the first digital currency to use the proof of stake  (PoS) consensus system back in 2012.

Peercoin was created back in 2012 by Scott Nadal and Sunny King. Sunny King, who also created Primecoin, is a pseudonym, a common behavior in the crypto community (do you remember who Satoshi Nakamoto is?).

Proof-of-stake’s protocol was created to solve the high energy  consumption of bitcoin.

The proof-of-stake system was also designed to solve vulnerabilities that could occur in a pure proof-of-work system.

For example, with bitcoin there is a good risk of attacks resulting from a monopoly on mining share. As Proof-of-stake becomes the primary source of coin generation, energy consumption decreases over time.

Ethereum and Casper

Now Vitalik Buterin – or the Ethereum blockchain creator –  and his Ethereum community want to exploit this algorithm to improve their technology. So, recently everybody in the digital currency world has heard about the proof of stake and Peercoin system.

Could this be one of the reasons for this Peercoin price growth? Is it a result for a growing curiosity behind the PoS tech?

How to store all digital currencies in only one place

If you want to trade, buy and sell different digital currencies, you may need a multicurrency wallet like the one provided by HolyTransaction.

Usually, if you want to store different cryptocurrencies you need a wallet for each digital currency you have.

HolyTransaction solves this problem as you can store more than 20 digital currencies in one place and within the same login details.

You just have to remember one password and you can have a full access to your digital currencies.

Also, HolyTransaction wallet provides you the following services:

  • Send your digital currencies to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange your digital currencies with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

Open now your HolyTransaction univeral wallet here. 

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

Amelia Tomasicchio

Ether price is reaching its all time highs

Ether price, or the digital currency that fuels the Ethereum blockchain, is approaching its all-time highs set last year.

In fact, price of ether rose of about 60% during last week, hitting $20.67 yesterday, after opening at $13 on February 25th.

Ether price and Ethereum Enterprise

This increase might be the result of the official launch of Enterprise Ethereum Alliance, a new working group focused on the Ethereum blockchain with important members including Microsoft, JP Morgan, Santader, etc.

This consortium has the main goal of using the ethereum  tech within enterprise-grade blockchain implementations.

So this recent news may have led to the increase of confidence in the technology and in the linked digital currency.

 

Digital currencies are growing

Recently bitcoin price is also growing, reaching its all time highs, together with the altcoin called Dash.

Among the others, bitcoin is undoubtedly the most used and known with a robust trading volume and bullish market sentiment.

Bitcoin has risen to several new highs in recent days, after failing to set new higher levels for more than three years. Also, bitcoin hits parity with the per-ounce price of gold last week.

Dash has rose more than 75% in the last week and upwards of 200% over the last month. In fact, the previously called Darkcoin reached its all-time high of $58.90 on 2nd March.

Multicurrency wallet for differentiated investments

If you want to invest in all these three digital currencies, you need a multicurrency wallet to store bitcoin, dash and ether coins at the same time.

Normally, if you want to have store different cryptocurrencies, you need to have ten different wallets, which is difficult to manage. Instead,thanks to HolyTransaction you can solve this problem, unifying everything in a single account.

For more info and fees (HolyTransaction has a fixed-rate exchange) click here.

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

Amelia Tomasicchio