Why is Bitcoin fair?


Hearing about Bitcoin is the easy part. The hard part is having the vision to understand how it's revolutionary, spending the resources to acquire it (whether other currency or electricity/compute power), taking the risk that it might not eventually succeed - and in so doing, taking a part in helping Bitcoin succeed thus making the world a better place. This deserves to be rewarded.

If you had heard about Bitcoin when the rate was $1, or $0.3, or $0.06, or when they weren't traded at all and it was just some software written by some guy consuming power and generating worthless monopoly money - would you have invested? When the rate goes up to $1000 and someone else will come complaining how it's unfair, do you want to be the guy who had the vision to invest when it was $3 and profited from it, or the guy who had the opportunity and missed it?

(I am not suggesting that Bitcoin should be thought of as primarily an investment vehicle or recommending that you do invest....

0 0

What are Bitcoin?

Bitcoin is a form of digital money created and controlled through digital encryption techniques. It is a peer to peer monetary transaction system, which is free from the centralized bank. The generation, transfer and verification of digital money between two peers occur through open-source software without any involvement of middleman or centralized banking body.

If you are interested in Sports betting, check out our sister-site www.bestbitcoinsportsbook.net.

How to Buy Bitcoins?
You can buy from the exchange companies that send you bitcoins for the money you pay them. The exchanges are for example: Kraken.com, BTC-E.com or Localbitcoins.com. You can also buy bitcoins from people who have bitcoin and want to sell. You can buy bitcoins against any mode of payment supported by the seller of bitcoins. In many countries, you can purchase bitcoins from exchange against, hard cash, debit card, credit card or any other...

0 0
0 0
0 0

Frictionless Money

That's why.

Bitcoins are easy to move around, and you can play online poker with bitcoins. This makes playing online poker for money easy, especially if you're in a country that makes depositing and withdrawing your money difficult.

That means you, America.

Here are three good things about Bitcoin that make it good for playing poker online.

1. Nobody can control the Bitcoin currency.

There are no banks or governments sitting on top of the Bitcoin currency.

Note: Think of Bitcoin as open-source money. It is on GitHub afterall.

This means that Bitcoin doesn't discriminate, so you can do what you want with your money. Here, let me show you the difference:


Want to buy a pizza online? Well of course you can young man! I hope you enjoy your pizza as much as you enjoy our digital payment processing! Want to send your money to another country? I think that should be okay, just pay this fee...
0 0

Guest Authors

This article has been contributed to the site by a Guest Author who does not maintain a profile on Cryptorials. The name of the author may be included below, within the body of the article.

Latest posts by Guest Authors (see all)

Contributed by CryptoGames

What is Provably Fair and Why Now is The Safest Time to Gamble Online.

The online gambling industry is booming. Rapid technological advancements of the last decade have brought your favorite games from Casino Boats and Vegas game houses to virtual Casinos and into the comfort of your own home and pocket. Numerous advantages are driving more gamers then ever to these online gaming havens. The new decentralized currency of the internet, Bitcoin, makes it easier and more convenient then ever to bet and transfer funds online. With such an explosion in internet gambling many of you can imagine the growing trend of gambling fraud. Having no hard proof in the form of dice or card...

0 0
0 0

We will never share or sell your personal details to any third party. We may also occassionaly use your email address to send you website announcements regarding changes to our website, including improvements, and service or product changes that may affect our website.

Cookies are sometimes used to improve the website experience of a visitor to a website. We may sometimes use cookies on this website to record aggregate statistical information about the visitors to our site and the use that our visitors make of the website. When collected this information is used by us to improve our website and further enhance the visitor experience and, may be shared with advertisers. Pease note that no personally identifiable information is recorded. We may also use the cookies to gather information about your general internet use to further assist us in developing or website. Where used, these cookies are downloaded to your computer automatically. This cookie file is stored on the hard...

0 0

2015/02/12 8:00 AM

If you happen to be in Stockholm, Sweden this, you may want to check out this Bitcoin event. Bitcoin Fun Fair is described as a “fun tech show, but, above all, a warm and delightful way to spend a weekend in February.”

All sorts activities and items will be available, all of which can of course be paid for with Bitcoin. Food, music, and fashion, are some of the highlights of the Bitcoin Fun Fair. There are also things for kids to enjoy at the Fun Fair, such as Kid Hack Day.

In an effort to help spread Bitcoin awareness, visitors will be required convert at least 100 SEK( Swedish Krona) to Bitcoin to gain access to the fair. People can do this in advance by downloading a wallet on their phone, or they can just bring cash and exchange it at one of the Bitcoin ATMs that will be present at the event.

Here are a few things that will be at the Fun Fair, pulled from the Bitcoin Fun Fair website:

cOpenCoin is a company based in...

0 0
0 0

Bitcoin dice never seem to go out of fashion, which explains why many Bitcoin casinos actually offer this simple yet enjoyable game. One of these betting sites featuring online dice is Win88.

This website is optimized to support 16 languages, and therefore, it can be accessed by players from different parts of the world, even in the US. With months of operation in this business, it has already established a strong customer base, along with quality gambling features.

Experience Bitcoin Dice and Other Games

Although lacking the staple Bitcoin games found in a casino, Win88 features three games: Dice, Lottery, and RPSLS. Despite being small in numbers, these games are all provably fair and optimized to work smoothly in any web browser.

Its Bitcoin dice is a great product for all dice enthusiasts. It is simple to play, and it requires a minimum deposit of only 0.001 BTC per roll. Aside from the easy mechanics in switching from a Roll Over to a Roll Under or...

0 0

Frequently Asked Questions about Bitcoin

What is Bitcoin?

Bitcoin is a digital currency that is stored and traded online anonymously, with no middle man such as a bank or a credit card company to mediate. This ensures not only that each transaction is completely anonymous, but it keeps fees to an absolute minimum by not having others handling your money.

How is Bitcoin acquired?

Bitcoins can be acquired by purchasing them, exchanging them, accepting them, or through a process called mining, which is the only way that new, unfound Bitcoins can enter the market.

Bitcoins can be purchased through an exchange using your bank account. This allows you to buy Bitcoins, which will be stored in a secure digital wallet, which you can then use to trade, sell, or purchase goods and services. Bitcoins, much like stock, have a fluctuating value, so make sure you check their value before buying AND selling.

Bitcoins can also be exchanged using your...

0 0

Ask your average bitcoin enthusiast, and he or she will be quick to list the reasons why the price of bitcoin, even at $260, is undervalued, or at least, not properly reflective of its long-term value.

Now, however, those with a more bullish outlook have a new tool that can help them uncover bitcoin’s ‘intrinsic value’.

Recently launched by ALFAcoins, the ALFAquotes Fair Bitcoin Price indicator aims to illuminate what it considers the true value of bitcoin by factoring for the cost of bitcoin mining, or the production of the commodity itself.

At press time, ALFAquotes contends, while most bitcoin traders are buying and selling bitcoins for $259.46, the fair price is roughly double that, at $518.59.

The result, according to ALFAquotes project manager Denis Hertz, is a more accurate indicator that reflects the historical growth of bitcoin and its untapped potential.

Hertz told CoinDesk:

“Venture capitalists assign ‘beyond the clouds’...

0 0
0 0

Secretive bitcoin startup 21 Inc has announced it will be the lead sponsor for the upcoming Bitcoin Job Fair, taking place in Sunnyvale, California, on 18th April.

With the move, 21 joins a string of frequent industry event sponsors including BitPay, BitGo, ChangeTip and ShapeShift, which will support the annual event, produced by FinTech accelerator Plug and Play Tech Center and digital currency job posting resource Coinality.

Plug and Play director Scott Robinson indicated that he expects this year’s Bitcoin Job Fair to attract a similar audience to last year’s event, which saw participation from approximately 30 startups and 400 attendees.

Robinson suggested that this year’s iteration of the Bitcoin Job Fair, however, will likely reflect recent changes in the space, with more jobs emanating from a smaller group of well-capitalized industry participants.

He told CoinDesk:

"Last year, there was a larger emphasis on engineers and developers, I...

0 0
Advertised sites are not endorsed by us. They may be unsafe, untrustworthy, or illegal in your jurisdiction.

Looking at a Bitcoin price “candlestick screen” is no way to go through life. If you are day trading Bitcoin, or are in Bitcoin for the short-term, to make a quick hit, this article is not for you. If you think the U.S. Dollar is going to be the global currency for the rest of your waking days, turn back now. If you think gold and silver are the only “real” commodities worth investing in, you are free to leave the room.

Also read: Why Bitcoin Value vs. Dollar Doesn’t Matter

That is for the Bitcoin full-timer. The lifer. The person who gets paid in BTC and knows how special it truly is. You learned about Bitcoin one day and said “This is going to change everything!” The one who owns a Bitcoin business, and sees it as “The Future of Money”. To you, Bitcoin is The Internet 2.0. You are a little down because of the Bitcoin price drop, and you just need a little...

0 0

Gambling is big business, and online gambling represents a significant and growing proportion of that business – about 8% currently.

Research company H2 Gambling Capital, which values the online gambling market in terms of gross winnings, put the global market value at €21.73bn ($28.54bn) in 2012. Furthermore, the firm expects a 9.13% compound annual growth rate through 2015.

Right now bitcoin gambling only accounts for a tiny percentage of the total of online gambling revenues. However, it is clear that the opportunity exists to make significant income within the industry and, with bitcoin's advantages in terms of low-cost, speedy payments, cryptocurrency-based gambling firms are doing their best to do just that.

CoinDesk spoke to some of the bitcoin gambling community’s experts to see what challenges they’re encountering along the way.

Wide-open market

The bitcoin world loves to gamble, in one form or another. In his book, The Anatomy of a...

0 0

An event is about to take place on the Bitcoin network that only happens roughly every four years. The amount of new bitcoin created and earned by miners with each new block of transactions is about to be cut in half. This is part of bitcoin’s predictable, transparent monetary policy, which can be verified in the source code available on the Bitcoin Core GitHub repository.

When these sorts of changes in bitcoin’s inflation rate take place, it's known as a halving event. This upcoming halving is expected to take place this Saturday when block 420,000 is mined.

Why Do Miners Get New Bitcoins?

Before getting into the effects of the bitcoin halving, it’s important to understand some of the basics of bitcoin mining. When someone creates a new Bitcoin transaction, it is sent around to all of the other nodes on the network, including those who are also contributing to the mining process. These transactions are collected and stored locally while the miners are also...

0 0