Posted on by Tess Gadwa

New York Stock Exchange begins monitoring Bitcoin value New York Stock Exchange begins monitoring Bitcoin value

From Coindesk

NYSE now monitoring Bitcoin

Photo from Engadget:

“The New York Stock Exchange (NYSE) has today announced the launch of a bitcoin price index (NYXBT).

NYXBT will represent the daily US dollar value of one bitcoin at 4pm (BST) and will be published on the NYSE Global Index Feed (GIF).

For a limited period it will also be viewable on the NYSE’s website.

Thomas Farley, NYSE group president, said in a statement:

“Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class.”

[edited for space]

The NYSE is not the only firm on Wall Street investing in the digital currency.

Multinational banking giant Goldman Sachs recently participated in a $50m funding round raised by bitcoin financial services startup Circle.

Just last month, developers at the Bank of New York Mellon Corp were revealed to be experimenting with bitcoin’s open-source code on the bank’s new corporate recognition program.

Posted on by Tess Gadwa

Yes Exactly: E-commerce consultants Yes Exactly: E-commerce consultants

Yes Exactly has been hired by Rosie’s Creative, LLC to troubleshoot issues in cross-platform integration between the WordPress e-commerce suite WooCommerce and their client’s distribution company’s order fulfilment system, and to provide recommendations as to next steps to resolve. With expert knowledge of WordPress, Drupal and other web platforms, we are able to provide consultation on all areas of web site design and development.

Posted on by Tess Gadwa

Yes Exactly Announces New Client: Artspace of Greenfield, MA Yes Exactly Announces New Client: Artspace of Greenfield, MA

Yes Exactly is pleased to announce a new web site client ARTSPACE Community Arts Center in Greenfield, MA. Yes Exactly has been hired to complete the site build in their new WordPress web site and finish the installation and testing of the WooCommmerce e-commmerce platform. The new site will allow for frequent posting of Artspace news and events, along with online class and workshop registrations.

Posted on by Tess Gadwa

Yes Exactly at South by Southwest Music Festival Yes Exactly at South by Southwest Music Festival

Yes Exactly represents at the South by Southwest Music Festival. Austin, Texas.

In line EA and TG

Here we are at South by Southwest Music Festival. We like to think we might have been the most indie/DIY professionals there at the entire festival. (We brought our own sandwiches and granola bars, anyway.)


Single Mothers


Then again, maybe we were just there to be fans and take in some awesome music. Here are The Single Mothers, just one of the bands we saw.



CEO Tess Gadwa at SXSW
Our artists’ music service, Million Song Mixtape, is a streaming music service that generates cryptocurrency for artists and fans. Its purpose is to improve financial conditions in the music industry with special attention paid to independent artists and musicians from non-Western musical traditions. We launch in June. Learn how you can be part of the Million Song Mixtape at

Posted on by Tess Gadwa

Yes Exactly Announces New Service Agreement with the Franklin Regional Council of Governments Yes Exactly Announces New Service Agreement with the Franklin Regional Council of Governments

Yes Exactly is pleased to announce a year-long contract for WordPress service, updates, and maintenance with the Franklin Regional Council of Governments,

The Franklin Regional Council of Governments (FRCOG) is a regional organization offering a variety of programming, products and services, both on the municipal and regional level, to our member towns. We serve the 26 towns of Franklin County, the most rural county in Massachusetts and located in the upper Connecticut River Valley in Western Mass.

“This opportunity speaks to our company’s deep expertise in the areas of WordPress maintenance, service, and optimization,” says CEO Tess Gadwa. “Yes Exactly is pleased and excited to be able to deploy our knowledge and skills in support of an organization providing valuable services to our surrounding communities.”

Posted on by Tess Gadwa

ABC Featured in Stranger Music Blog ABC Featured in Stranger Music Blog


Attention Based Currency and its co-founders were featured in today’s online edition of The Stranger, in a blog post by music writer Dave Segal:

“Musicians’ gripes about insultingly tiny payouts from streaming services like Spotify and YouTube have been widespread. Tess Gadwa, co-founder of Attention Based Currency and CEO of Yes Exactly, is planning to create a platform that will fairly compensate musicians for digital consumption of their work…”

Read full post.

ABC is a music-based online currency under development by Yes Exactly.

Posted on by Tess Gadwa

Why Bitcoin Failed Why Bitcoin Failed

Just one week ago, I had a lengthy conversation with a local convenience store owner while buying milk and juice. He had recently raised his credit card minimum to $10. He was frustrated in equal parts by the high transaction fees he was forced to pay on low-dollar items, and the large number of customers who no longer carried cash. When I explained to him that Bitcoin was an electronic payment system that can eliminate or drastically reduce merchant transaction fees, he got excited. I asked him if he would choose to have an ATM in the corner of his store where consumers could purchase Bitcoin using a credit or debit card; his answer was emphatically yes.

The problem, is Bitcoin isn’t being used in place of cash.

When a currency loses 50% of its value within the space of two weeks, and with a 24-hour low of $160, is down to just over 12.8% of its peak value of $1242, it is no longer able to function as a currency. It is a commodity only.

For all the day traders who will be scratching their heads and wondering what happened in the weeks to come, here are a few key reasons for the decline in Bitcoin’s value:

(HINT) It’s not security. Exchanges like Mt. Gox and Bitstamp get hacked, just like banks get robbed. This has nothing to do with the underlying security of a technology that functions like cash. The problem is, not enough people understood that.

Which brings us to…

1. Poor Usability. In terms of ease of use and help resources available, the Bitcoin (BTC) wallets I have used range from truly abysmal to just about comparable to your average online banking or credit card site. This is a heart-rending shame because BTC has the potential to be a one-click currency: as seamless and easy as “liking” on Facebook, or paying for a pack of gum with cash. No need to spend precious time rummaging through your wallet and entering long strings of credit card numbers. Coinbase made some strides in this direction, but implementation was uneven and still required too many mouse clicks.

2. No Ability to Tax and Spend. Unlike a government printing fiat currency, Bitcoin could never marshal its resources effectively. According to the Equation of Exchange, one of the core principles of classical economics, currencies grow in value as circulation increases; the number of times a currency changes hands is the best predictor of a currency’s long term value, not its high- or low-water mark among currency traders. Assets remain embarrassingly over-concentrated (according to one estimate, less than 300,000 people hold Bitcoin worldwide) which undermine the currency’s chances of reaching a mass audience. The Lamborghini dealerships, porn stars, and electronics retailers who received Bitcoin as a form of payment did not, by and large, turn around and pay that Bitcoin to someone else — they exchanged it for fiat, as soon as they were able.

3. Poor Branding and Marketing. Both online and offline, numerous foundations, conferences, and centers sprang up to evangelize the Bitcoin gospel — but most catered to other techies and investors, not to the general public. Most of the general public associate Bitcoin with criminals. The rest assume it is difficult to use. Where were the celebrity endorsements, the product placements, and the sweepstakes and giveaways that would have gotten Bitcoin into general circulation? Where was even a single, large-scale mass market advertising campaign? The $7B market cap Bitcoin enjoyed one year ago should be seen ss a window of opportunity, not a reason for arrogance.

Yet there is still hope.

The technological innovation that BTC represents cannot be understated. Best of all, the idea percolated far enough into the global media and investor community that the disruptive potential of peer-to-peer currency is now widely understood. Cryptocurrency will be back again.

Whether by Bitcoin or another name, its needs to attract not simply the technological whiz kids but also talented professionals who understand marketing, branding, usability — and fairness.

Tess Gadwa