_Announcing charitycoin_ – donate to over 10,000 charities with bitcoin _ bitcoin the price of bitcoin

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We are pleased to announce charitycoin – http://charitycoin.Co.Uk designed to facilitate charitable donations in bitcoin.

How does it work?

1) donations are made in bitcoin to one of over 10,000 registered charities on our site.The price of bitcoin all donations can be instantly verified on the blockchain. Once we receive your donation, we make an equivalent donation in pound sterling to your chosen charity via justgiving. This donation can also be verified on the justgiving website ( www.Justgiving.Com), to ensure that your donation reaches the charity. All verification data is displayed on our website.

2) we issue you with 1 charitycoin (‘XCC’) for every £1 of donation that you make. Verified donations are the only method of coin creation, which makes charitycoin the first proof of donation cryptocurrency (there is a limit of 100,000,000 coins). Your charitycoin is an asset on the counterparty platform (counterparty.Io), registered to one of the input addresses on the original donation transaction. It is therefore necessary that you keep track of one of the addresses, and – if you want to use your charitycoin – that you have a counterparty wallet.The price of bitcoin

Why charitycoin?

Our core aim is to make giving to charity as simple as transferring bitcoin. Currently, the purpose of the asset itself (charitycoin) is to incentivise further giving: should charitycoin gain value independent of the amount donated – for instance, if it were to become an asset on a cryptocurrency trading platform – then it would act as stimulus to acquire more coins via charitable donations. In the short term, one possible use of charitycoin is the distribution of dividends to holders of coins, which would equally act to increase the marginal value of each coin and thus charitable donations.

We welcome all suggestions from the community, in particular concerning possible uses of charitycoin. If you wish to contact us in private, please use the form on our website.

The charitycoin team

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This is a good point. You can just sell and donate yourself. However this platform enables people to donate to charity and use potentially use some of the advantages of the bitcoin network. For example:

• during the counterparty launch, 2,130 bitcoins were “burnt” – see https://blockchain.Info/address/1counterpartyxxxxxxxxxxxxxxxuwlpvr. If this project is successful and builds up trust, a proof of donation mechanism can exists, which would provide many of the advantages of a proof of burn scheme, with a major difference being that charities benefit.

• bitcoin donations could be integrated into any existing bitcoins service or applications, for example changetip. This could make donating easier.

• one could create a fund that pay dividends to the holders of the counterparty asset we have created, further incentivising more donations.The price of bitcoin

We do appreciate the point you have made, which is sensible. However we hope we have created something which can encourage some charitable donations.

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