The Satoshi Project
This blog post explains how and why we are giving bitcoins to VirtaPay users. Plus, you’ll learn how you can contribute and get rewarded in bitcoins or VP$ as we work toward converting VirtaPay into a crypto-currency.
Since the last blog post, we have been busy planning the steps needed to convert VirtaPay into a crypto-currency. We have named this effort the Satoshi Project — in honor of Satoshi Nakamoto, the creator of Bitcoin.
Whether or not you choose to contribute, you can earn a 1% bonus, paid in bitcoins or VP$, for referring new contributors to the project. In fact, if you have ever referred someone using your referral link, then you already have referrals for the Satoshi Project!
We plan to accept less than 100 contribution rounds before the project is fully funded. Each round will have strict limits for both contribution size and the number of contributors allowed. The rounds will start small, but eventually, we will allow larger contributions and more contributors… as the Satoshi Project progresses.
Two Free Bitcoin Payments
We will soon send a bitcoin payment of 1 satoshi to many of our existing users. A satoshi is the smallest sub-unit of the bitcoin currency, it is 0.00000001 bitcoin.
In addition, we will award a bitcoin payment of 10 satoshi to all VirtaPay users who created their account before Jan 25, 2014. If you qualify for this payment, the link to claim it will be visible when you log in, on the “My Account” page.
Bitcoin Update
For those who may still have doubts about the role virtual currencies
will play in the future, here’s a quick update on Bitcoin just since
our last blog post, less than three weeks ago…
This marks the first time in history that major retailers have begun to accept a virtual currency which is not tied to any specific country or government.
We will post updates on the Satoshi Project as it progresses.
Thanks!
The Satoshi Project
As you may already know, we are planning to convert VirtaPay into a crypto-currency, similar to Bitcoin. There are compelling and exciting reasons for this change, as explained in our last blog post.Since the last blog post, we have been busy planning the steps needed to convert VirtaPay into a crypto-currency. We have named this effort the Satoshi Project — in honor of Satoshi Nakamoto, the creator of Bitcoin.
Funding the Project
To complete the goals of the Satoshi Project will require funding… and you can get rewarded in bitcoin or VP$ if you contribute, or if you refer anyone who contributes to the Satoshi Project. The contributions will be used…- to pay for programming the conversion to crypto-currency
- to promote the growth of VirtaPay
- to help raise awareness of crypto-currencies
- to invest in promising crypto-currencies
120% Payouts and 1% Bonuses
You are guaranteed a 120% payout in either bitcoins or VP$, for every contribution you make. First, your contribution will be added to the current “contribution round”. After a contribution round is fully funded, and then reaches maturity (completing the goals of that round), then all payouts for that round will be sent.Whether or not you choose to contribute, you can earn a 1% bonus, paid in bitcoins or VP$, for referring new contributors to the project. In fact, if you have ever referred someone using your referral link, then you already have referrals for the Satoshi Project!
We plan to accept less than 100 contribution rounds before the project is fully funded. Each round will have strict limits for both contribution size and the number of contributors allowed. The rounds will start small, but eventually, we will allow larger contributions and more contributors… as the Satoshi Project progresses.
Two Free Bitcoin Payments
We will soon send a bitcoin payment of 1 satoshi to many of our existing users. A satoshi is the smallest sub-unit of the bitcoin currency, it is 0.00000001 bitcoin.In addition, we will award a bitcoin payment of 10 satoshi to all VirtaPay users who created their account before Jan 25, 2014. If you qualify for this payment, the link to claim it will be visible when you log in, on the “My Account” page.
Why send these payments?
Here are a few reasons for these payments…- To test our bitcoin sending mechanism on a large scale.
- To raise awareness of the Satoshi Project.
- To help you contribute. The minimum contribution amount is 10 satoshi. So, if you qualify to receive the 10 satoshi payment, you can use it to contribute to the Satoshi Project.
- To give you some bitcoin to get started. Even if it is a small amount, many of our users have never owned bitcoin before!
- We want you to think about the rise of virtual currencies, and the role they will play in the world economy in the near future.
Bitcoin Update
For those who may still have doubts about the role virtual currencies
will play in the future, here’s a quick update on Bitcoin just since
our last blog post, less than three weeks ago…- The value of 1 bitcoin has risen about 6%, from US$750 to around US$800 as seen on trading exchanges around the world.
- On January 9, a major U.S. retailer, Overstock.com, began accepting Bitcoin as a form of payment. Overstock has annual revenues of over US$1 Billion.
- On January 23, another major U.S. retailer, TigerDirect.com, began accepting Bitcoin as a form of payment. TigerDirect is a Fortune 100 company with annual revenues of over US$2 Billion.
This marks the first time in history that major retailers have begun to accept a virtual currency which is not tied to any specific country or government.
Get Started…
http://www.virtapay.com
To learn more about the Satoshi Project, log in to your VirtaPay account and follow the new links on the “My Account” page.We will post updates on the Satoshi Project as it progresses.
Thanks!
Posts
No comments:
Post a Comment