Understanding Bitcoin

There has been a lot of media coverage about the crypto-currency bitcoin, and a lot of people do not understand what it is. Bitcoin was invented in 2008 by Satoshi Nakamoto, and is a peer to peer system that allows people to interact and exchange funds without needing an intermediary. Some of the media attention in recent years has come from law enforcement agencies saying that criminals and terrorists have used bitcoin to hide from the law and the legality that comes with legalized tender. But, the United States has also recognized that users can get genuine transactions from bitcoin for legitimate financial services.

Some online retailers have even begun to accept it for legal tender because it is cheaper for them to operate than credit cards. A business owner charging credit cards can expect up to three percent of their profits taken by the credit card company. While some bitcoin users need to be aware that they are not protected from fraudulent charges and charge backs, it is still been a profitable way to use tender online. The newest development in bitcoin and online tender has to be the Satoshi Slot. Instead of gambling online with the dollar or other form of currency, this new software allows you to gamble online using bitcoin. You can deposit quickly and get your winnings back almost instantaneously, and it allows you to take some of the hassle out of gaming with other forms of currency.

It’s easier and faster, and there is a whole world of people waiting to play alongside you. Bitcoin is an international currency, so you can play people from all over the world without conversion rates. In a world that is changing constantly and always updating technology, don’t you want to stay ahead of the curve? Using bitcoin is an exciting and new way for people to interact online, and now with Satoshi, the limit goes even higher. There are so many different ways that you can engage with people all around the world using bitcoin. Get started today and learn more about what bitcoin and what this technology can do for you.

The Speed of Bitcoin, Favoring Its Longevity in the Marketplace

Everyone who knows anything about the economy or the Internet probably has an opinion about bitcoin. It is like the universal polarizing figure in currency. Opinions range from its failure in the next couple months to its cultural permeation on a global scale. The facts only tell so much. It says that it is a famous crypto currency that can be traded on a global scale instantly. They tell us that bitcoin has values that change every couple weeks, so investors are holding onto them in hopes that the value will go up. Whether this is the case or not is still completely up in the air. Fortunately for the odd coin, it has a number of features that are really working in its favor, especially around its speed of transfer.

Banks and Slow Money

Many banking institutions may claim that their transactions are instant, but they rarely are. Unless one is depositing cash into their own bank account, nothing is ever instant. A check from one bank to another could take 3 to 5 or even a week or two for the funds to clear. Neither bank wants to be responsible for holding onto bad money, so there’s this waiting game between the two parties. International wire transfers are equally frustrating, taking days to get to where they need to go. This is the case for every regular Joe out there that is trying to work on the global market in some way.

It is Instant

This all leads to the one truth about bitcoin that is helping its longevity- it is fast. Not only is it fast, but it is instant. Transfers move to something called an e-wallet. Every e-wallet is tied to a specific bitcoin owner which is subsequently tied to an identification number. So senders input the identification number and the name of where they want the coins to go to, and it will go to them no matter where they are the country. It is all occurring online through the e-wallet platform.

This is just one feature of the coin, but there are many others. Getting involved with bitcoin through resources such as Satoshi Slot could be an exciting way to answer this new territory.