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Over the last few years Bitcoin has popped 888 bitcoin news everywhere in the tech world and in mainstream media. To understand the answer to that question you have to understand that 888 bitcoin news the entire 888 bitcoin news of online poker its Achilles heel has been the depositing and withdrawing of real money.
Real money is generally considered imperative for playing poker online. Bitcoin, in theory anyways, is the single greatest way to transfer cash to and from an online poker site. It a digital currency, basically, and it's overseen by no government agency or ruling body.
On top of all that, there are virtually no transfer fees. Bitcoin has the chance to fundamentally change the way online poker sites are run, now and into 888 bitcoin news future. Here's a closer look at Bitcoin poker online, a brief history of the world's most famous digital cryptocurrency and the future of bitcoin poker sites in the US and beyond.
The history of Bitcoin is unusual 888 bitcoin news its development is shrouded in mystery. Instead the coins themselves are created by powerful computers verifying and recording payments on a public ledger. Instead Bitcoins are essentially mathematical codes. Each one is unique.
It was worth a few dollars for the first few months of the year but by May it started to climb. Bitcoin exchangers - where you could trade Bitcoin for fiat currencies like US dollars - started to pop up. That volatility was just a sign of things to come and in the unthinkable happened: To put things in perspective, just three years earlier Bitcoin was worth pennies.
There have been numerous other digital currencies that have tried to copy Bitcoin, such as Litecoin, Dogecoin and Darkcoin, but none of them have really caught on. More and more, 888 bitcoin news Ethereum, continue to make progress though. Bitcoin is based in math.
Instead of being represented by actual gold or some similarly valuable material, Bitcoins 888 bitcoin news created when people with powerful computers dedicate their machines to verifying and recording payments on the public ledger. You could almost say that Bitcoin is created by Bitcoin.
When a computer finishes verifying a block, it is rewarded 888 bitcoin news 25 bitcoins. This is called Bitcoin mining. Bitcoins become much harder to mine and conceivably more valuable as time goes on because there is a finite amount and the algorithms behind verifying the transactions become more and more complicated.
The vast majority of people that use Bitcoin never have anything to do with the mining part of the technology. Bitcoin represents a unique opportunity for poker. Bitcoin 888 bitcoin news makes for incredibly easy deposits and 888 bitcoin news to online poker sites.
Because Bitcoin is entirely digital it takes just seconds to transfer them. Instead, you just take your coins out instantly.
Bitcoin is obviously incredibly volatile although it has levelled off a bit in recent months and there is a chance it will be de-valued completely some day. Perhaps the strongest case for Bitcoin is that this is something people want. A global, potentially anonymous currency, that can be transferred in a matter of seconds with zero transaction fees. 888 bitcoin news it be Bitcoin? And will it become the dominant means of currency for playing online poker?
Only time will tell. There are poker sites that 888 bitcoin news use Bitcoin as a currency eg SealsWithClubs or SwCPoker and regular mainstream poker sites that will accept Bitcoin as a deposit method but will change your balance into standard currency for play on the poker site.
As far at Bitcoin poker and Bitcoin poker sites go, actually acquiring the Bitcoins is the most complicated part of the process. You might think a wallet is a place to store Bitcoins but it would be more accurate to say a wallet stores the information necessary to transact Bitcoins.
Bitcoins cannot be separated 888 bitcoin news the Block Chain 888 bitcoin news when you buy bitcoins you are technically just buying 888 bitcoin news of part of the Block Chain. Bitcoin wallets can be categorized into four basic kinds:. This is the most common style of wallet and the easiest to use. You 888 bitcoin news go to a website and enter your information to instantly have access to an always-on wallet. One upside to 888 bitcoin news approach is that if your computer crashes and you lose all your files then you still have your Bitcoins.
Detractors to this approach would say that having them online all the time makes them susceptible to hacking. 888 bitcoin news is the same as the online wallet except you actually download software to act as your 888 bitcoin news. These are considered slightly more secure than the regular wallet. This might sound strange to someone unfamiliar with Bitcoin but because the currency is essentially a string of numerals you can print it on phsyical things.
In the past users have printed their Bitcoin codes on novelty coins but you could use anything including wood, plastic or plastic. You could also just write down on a piece of paper. Hardware wallets are just physical wallets that store your information digitally. Multi-signature transactions are a relatively new, arguably more secure way, of making Bitcoin transactions.
Multi-sig wallets add another level of security and give users access to a form of escrow. Make a purchase online? Your transaction will send one signature but not all of them until you actually receive a product, for example. Exchanges let people trade fiat currencies for bitcoins while charging you a small 888 bitcoin news. The problem is that right now these exchanges exist in a grey area of the law. Many governments are concerned these exchanges could be used for money laundering.
It used to be a crap shoot deciding what exchange to use as some of them were shut down outright, leaving their costumers without millions of dollars worth of bitcoin. The industry is changing, however, and there are now many exchanges based in the US that are considered more secure. There are some 888 bitcoin news to buy bitcoin anonymously, however, which is useful for people who want to remain anonymous.
The bitcoin 888 bitcoin news industry is so fluid that it changes on a month-to-month basis. You can check out review sites like TheBlockChain. Quite often Bitcoin poker 888 bitcoin news are also relegated to in-browser play so that you 888 bitcoin news play on any device including mobile without having to download any software at all.
The combination of no-download software and Bitcoin is one of the simplest, most accessible ways to play poker. There are regular online poker sites that have 888 bitcoin news started accepting Bitcoin in addition to normal currency. These sites tend to have very good software but because they accept real cash they may not be able to provide poker in your particular jurisdiction.
One difference between Bitcoin poker sites is that some convert your Bitcoins into chips for play 888 bitcoin news the site. Another difference between Bitcoin poker sites is the way they handle deposits. Some sites will hold a Bitcoin account balance for you; others sites are experimenting with never actually holding your funds. You log in, your Bitcoin are reserved momentarily for wagering in the poker game, and then you log out and the amount that you won or 888 bitcoin news is sent right back to your Bitcoin wallet.
The short answer is yes, although because online poker is essentially unregulated in the United States right now except in 3 statesplaying on a poker site that both accepts US players and Bitcoin is a big risk. We don't currently recommend any poker sites that accept Bitcoin and US players but that could change as the industry becomes more and more regulated.
Despite rumors suggesting PokerStars was on the brink of accepting Bitcoin as a payment method as early asPokerStars does not currently accept Bitcoin transfers. Back in the early days of Bitcoin a few poker sites trying to get Bitcoin poker off the ground offered freerolls that gave away free Bitcoin.
Ever since Bitcoin surged in value, though, those days are long gone. Earning free Bitcoin playing poker is a thing of the past. Play Poker Best Poker Sites. Find the best poker sites to start your online poker quest. Our in-depth reviews make it easy to pick the right poker site. Ready to play for real? Check out the top online poker sites to play on for real money. A good poker bonus is essential.
Find the highest possible poker bonus here. Want to win real prizes without risking anything? Poker freerolls are for you! Your home base 888 bitcoin news the latest poker news from the live pro tours, the Twittersphere and more. News specific to the online poker world including big scores, new promotions and 888 bitcoin news legislation.
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Up-to-the-minute news, hand updates and 888 bitcoin news from PokerListings signature live poker festival, the Battle of Malta. Related Articles Jason Les: Why is Bitcoin such a tantalizing option for online poker? Is Bitcoin Poker the Future? A Brief Lesson in Bitcoin Bitcoin.
