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.