Bitcoin: it is increasingly talked about, and indeed, this digital currency is becoming ever more important in online transactions.
Bitcoin is a digital currency that is not generated and distributed by any bank or central authority, its diffusion is based on “peer to peer” technology, i.e. a computer network model formed by nodes, each of which is able to initiate or complete a transaction.
The value of bitcoin is based on supply and demand, and inflation is a non-existent parameter in the world of this cryptocurrency, given that the issuance of bitcoin is based on mathematical algorithms; every 10 minutes automatically, 6.25 new bitcoin are distributed on the market. When the limit of 21 million bitcoin will be reached, the algorithm will stop working and the production of the currency will end; it is believed that this will happen in 2140.
From 2020, 10 years to reach one million dollars
Bitcoin is surely the most famous cryptocurrency in the world, with a large number of users and supporters, who blindly believe in the possibility that this financial asset can become the currency of the future. Certainly, its diffusion has increased considerably over time, so much so that it has become of noteworthy importance in the global economy. One of the challenges in the current bitcoin scenario is the difficulty in predicting its value. Economists compete to determine the most likely price for bitcoin, and sometimes the differences between the different valuations can be large and the values sensational. Bobby Lee, CEO of BTCC, has predicted that by 2028 the price of BTC will reach $500,000, rising to $1 million by 2030. Looking at the short term, this cryptocurrency guru expects the price of bitcoin to reach $25,000 by December 2020:
“I am convinced bitcoin will exceed its $20,000 peak from late 2017 to reach a new all-time high of $25,000 by the end of 2020”.
This value, according to the entrepreneur, is partly due to the ongoing global health crisis.
The forecast of the trends of bitcoin proposed by Lee finds confirmation also in the stock to flow charts, which are normally used to evaluate the current quantity (stock) of any commodity with respect to the flow of that same commodity in the unit of time.
Bitcoin and online casinos
Bitcoin therefore represents a real revolution in the world of online transactions, and is a means of payment that can also be used in online casinos. As can be seen from this list, more and more casinos with bitcoin are present on the web, and this cryptocurrency is spreading like wildfire in online casinos. The ability to use BTC, for transactions in casinos that accept bitcoin, has significant advantages for those who are passionate about online gambling; one of the most important is the ability to control the bankroll that the player owns in the online casino.
Depositing money, after creating an account in a bitcoin casino, is a very simple operation, which must be performed on a bitcoin wallet: the user indicates the amount that they want to deposit and then they are directed to the Bitcoin platform, both via mobile and PC, where their cryptocurrency wallet is active. Withdrawal is also very easy: after logging in, the user enters the amount to be withdrawn and sets bitcoin as the payment tool; then he indicates his BTC address, so that the money is transferred from the online casino account to the bitcoin wallet. Generally, casinos that accept bitcoin do not charge a commission fee, however, in order to avoid any nasty surprises, it is best to check the terms and conditions of the service on the website. Another advantage of using BTC to play at bitcoin casinos is the timing of transactions, which using this cryptocurrency shortens considerably compared to using other payment methods.
The security of bitcoin transactions is high, as personal data are not visible: one can be sure that these, as well as the bank details, are not made public.
With blockchain technology, transactions take place through encryption, so as to ensure the integrity and recording of the chronological succession of transactions. With respect to identity protection, BTC protects its users, by never revealing personal identity; with regard to the use of bitcoin for online gambling, it is still necessary to check the privacy policy provided by individual online casinos.
How to find casinos that accept bitcoin? To know whether the gambling website is a bitcoin casino, simply visit the payment section of authorized online casinos, i.e. AAMS-licensed online casinos.
