If you want to know more about the digital cryptocurrency called Bitcoin, then you’ve come to the right place. Best Bitcoin Dice offers a wealth of information about this fabled digital currency. So sit back, relax and learn some of the interesting facts about this online currency.
A little history
Bitcoin is the first implementation of a concept known as “crypto-currency”, and the first specification was published in 2009 in a mailing list by a pseudonymous developer named Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much of his identity; since then, the community has grown exponentially with many developers working on the digital currency.
It is not a physical coin
If you are asking yourself, “What is Bitcoin?” then you must know that it is not actually a physical coin; it is a complete digital currency traded and exchanged online. You can use it like real currencies to pay for some goods or services, but unlike the dollar, and like all digital currencies, it only exists electronically.
One of the reasons why this digital currency is so popular is that it has no central authority. Nobody controls or owns the network but rather, Bitcoin is controlled by all of its users around the world. Yes, there are developers who are working on the software, but these people can’t force a change in the digital currency’s protocol because all users are free to select what software and version they would like to use.
Where can I use them?
There are an increasing number of physical stores, restaurants, and establishments that accept Bitcoin as the payment method. But most of the time, you can spend your coins in online shops. You can buy computer hardware, pay for webhosting services, and you can even gamble online using bitcoins! With the increasing demand of this digital currency, it definitely has the potential of becoming an excellent investment with greater risk-reward ratio.
How does one acquire bitcoins?
There are quite a few sites that allow you to earn small amounts of bitcoins so you can feel more comfortable using bitcoins. On the other hand, if you have known this digital currency before, then you probably have an idea on where to get bitcoins. You can obtain bitcoins through mining, purchase it at a Bitcoin exchange market , and you can even exchange bitcoins with someone near you! There are plenty of ways on how to buy bitcoins, so you can feel the ease of acquiring them right away.
What are the advantages of Bitcoin?
- Pay the way you want it. With bitcoins, it is now possible to move any amount of money instantly anywhere in the world at any time. No bank holidays, no restrictions, no limits – as simple as that.
- Very low transaction fees. Unlike traditional payment methods, bitcoin payments are currently processed with either no or negligible transaction fees.
- Total control. When you use bitcoins, you are in full control of your transactions. It is impossible for merchants to force unnoticed charges as can happen in other payment methods. You can make money transactions without having to reveal any of your personal information. This offers a strong protection against online identity theft.
- Transparency is the key. All Bitcoin transactions are recorded in a publicly-shared ledger called the Block Chain. With this, all users can view and verify the transactions made within the day, without even manipulating the data.
Given all these exciting benefits, you will be spoilt for choice in the fields where you can use bitcoins. Among the most popular is online gambling where you can have so much fun and gives you the opportunity to earn more bitcoins. Bitcoin dice is one great game you can try your hand with. With its simplicity and profitability, you will sure have endless hours of fun and entertainment.