Recently, each month we a hearing a new word more and more – Bitcoin (BTC). In this article we will try to open the meaning of this word and explain what it is. So what is Bitcoin?
Bitcoin (Bitcoin, BTC) is a word formed from 2 English words: “bit” is a unit of measure for the amount of information; and “coin” is a coin. In simple words, it is an electronic payment system that requires virtual currency. But that is not all, there are a number of features – both pros and cons. Bitcoins are not supported by anything and are not secured, like many payment systems, for example, with gold. Generally speaking, these are prime numbers without materiality, and the rate for a given currency is calculated by automated processes from the calculation of supply and demand. And the most important feature of the Bitcoins is the complete absence of regulatory authorities, this currency has neither banks nor other similar large centers.
Today, Bitcoin e-money is used in many trading and other organizations around the world as part of online bidding and electronic payments. They can be found in major exchange offices and purchased for US dollars, as well as for other currencies. As for the course of Bitcoin, it does not have any stability. It is constantly changing, surprising its owners, both in sudden jumps and in dips. For example, in 2011, 1 BTC was equal to about $ 17.5, but after two years, its cost jumped sharply to $ 250, having played a little at this position (only about one day), it fell to $ 50.
It is clear that BTC, due to the absence of regulatory authorities, will soon find particular use as electronic payment systems even on the black market for the sale of goods prohibited by local law. For example, at the present time, Americans have already begun to use Bitcoins as a payment system in online games, in particular – concerning Poker.
Many legal poker gaming sites have already officially started accepting Bitcoins, paying winnings and bonuses. Due to such unprecedented popularity, the number of poker rooms accepting a new e-currency is growing every month. But no one really knows how the coexistence of Bitcoin and Poker will continue. Here there is both a plus – the possibility of a complete anonymous game with nobody controlling e-currency, or a minus – a serious risk of an unstable currency BTC both for players and for Poker-Rooms with possible subsequent collapses. Bitcoin is an unpredictable electronic currency that does not lend itself to any prediction, and to use this currency or not is a personal matter for every gambler.