How the best Bitcoin Wallet is changing Games

Bitcoins have seen and extremely large amount of success along online game players. Was even more noticeable is that even before the popularity grew to where it is today, online casinos have seen the potential of bitcoins early on. But that poses a question about the aspect of bitcoins that has changed Bitcoin games and how they are played, especially online. One of the things that makes bitcoins so attractive to gamblers and investors on line is that there is no government oversight regulating the currency nor does it involve financial institutions and their regulatory interjections. In fact, the virtual currency is completely unregulated except for the virtual currency network that monitors and tracks the transactions and transfers involving bitcoins. This means that anyone from any company, country or part of the world can own a bit coin and the value of it will remain consistent no matter where they are. This also creates an opportunity for unlimited creativity for those who are well informed and business smart and know how to manage money in unconventional ways.

Best Bitcoin Wallet Gaming Regulations

Not only are bitcoins unregulated, but their infrastructure and decentralized system cannot be tampered with or intervened by regulators and authorities who wish to undermine gambling entities. This allows an interesting opportunity as persons utilizing bitcoin games wallet to gamble on online Bitcoin games can remain anonymous, and the Bitcoin games that accept the bitcoins can avoid government regulation. This is not only protection for now, the protection for the future if government should decide to regulate the virtual currency later. Another way that bitcoins are affecting the game industry is the ability to access the money without paying fees. The virtually nonexistent fees as well as speedy transactions in which the bitcoins are transferred from the bit coin wallet to the game company helps for the users to use more of their money, and the companies to make more. bitcoins transactions are also irreversible, so this means that users and game companies alike understand that there are no refunds or reversible transactions – once the money is gone it is going. This is different from the use of traditional funds like the American dollar or the European dollar, as many times gamers must pay baking fees and then transfer fees to access the money in their bank accounts that they plan to use to gamble or play Bitcoin games online. Then, on top of that, many times the funds are not available immediately in which case gamers who wish to play a game on the weekends are forced to wait until three or four business days have passed before they can fund their account and play the game of their choice. Also, since bit coin transactions do not associate with any person’s government recorded name or identity, gamblers not only can remain completely anonymous, but their activity cannot be traced or monitored.

Even though the gaming community was one of the first to accept the usage of bitcoins, that acceptance was not widely perceived among the gaming community at first. It was not until 2013 when bitcoins really gained the trust and acceptance of the gaming sector, as the financial recession that the United States experience was experiencing a murky outlook. Now, traditional investments like gold, currency pairs and other previously profitable investment vehicles became unreliable and vile tile, causing the value of people’s investments to dramatically decrease and the power of the dollar to virtually disappear. This caused investors to pull their money out of the market and look for other vehicles that could be used to safeguard the value of their money as well as provide a profitable return in the form of dividends, interests collected or increase in value.

Bitcoin Prices look great.

Bitcoin Prices have been making highs last year.
Bitcoin Prices have been making highs last year.

In April 2013, bitcoins users and owners watched as the value of bitcoins increased to a new high of $100, only then to continue to increase in value until it hits the all-time high of $1200 in American money. This meant that investors and gamblers who already owned bitcoins prior to the price increase could multiply the purchasing power of their investments, which increase the usage of bitcoins. This was the first signal that bit coin users could not only realize a profit on utilizing the market in value of bitcoins to increase their financial portfolio, but this gave value could then in turn be used to gamble and play Bitcoin games that would return additional profits on that money.

Bitcoin wallet demand has risen due to mining.
Bitcoin wallet demand has risen due to mining.

One of the last ways that bitcoins changed Bitcoin games is the conversion from the demand to convert bitcoins into American money, to the except as of bitcoins as they are. In the beginning, gamers were required to use the virtual currency marketplace to capitalize on the value of the bit coin and converted into American money. At that time, that was the only form of currency that was accepted and recognized by the gaming community. Once bitcoins had established himself as a viable means of transferring funds, game companies begin to accept bitcoins as a form of payment for bitcoin games. This opened the door for bit coin users to save the added time of conversion and maximize the use of their virtual currency by connecting their bitcoins wallet to their bank account or debit card to transfer funds for the use of playing Bitcoin games. Casinos were one of the first gaming communities that begin to accept bitcoins, but it was not long before the smaller gaming communities caught on to the revolutionary movement. From that point, all, the rest is history. As trusts, has been further established in the use and value of bitcoins, the use of this virtual currency has become normalized and will eventually become standard for the gaming community. The privacy and ambiguity that it offers is an attractive protective measure that bitcoin game players enjoy, as it’s allows them to gamble on various sites and access their money in ways that prevents them from being questioned or monitored.

Top Ethereum Wallet Gaming Guide

If you’re a hardcore gamer and an Ethereum wallet fan, then this guide is perfect for you. Gaming enthusiasts are very much into gaming and technology, while cryptocurrency enthusiasts love the latest and greatest digital currencies like Bitcoin and Ethereum. This combination is what smarted Project Torque, a gaming cryptocurrency news website.

The Challenge of Real time Games

Gaming has become a popular past-time for digital currency users.
Gaming has become a popular past-time for digital currency users.

Many turn based or single player games currently exist on the Bitcoin and Ethereum wallet blockchain. The issue is, why aren’t there any real-time games available? One of the questions what to store on the blockchain. A massive multiplayer online game for example, does not need to store every single piece of information onto the blockchain. A lot of the data is also redundant. One option is to store only important data such as gold values for each user on the blockchain. As a result, the size of information needed to be stored on the blockchain is reduced. This is suitable for both in-game and out of game uses, as Ethereum can be traded in real life – outside of the game.

The drawback is that there will always be information that isn’t stored on the Ethereum blockchain. As a result, gaming won’t be truly provably fair. The current block rate of Ether occurs at roughly ten seconds per block. This is enough to operate quickly for slower, turn-based games. However, real time games operate at faster speeds that aren’t suitable for the blockchain to handle.

Existing Games on Ethereum

Poker has been implemented into Ethereum wallet smart contracts.
Poker has been implemented into Ethereum wallet smart contracts.

Many turn based gaming applications have been created your Ethereum wallet online. The blockchain acts as a judge for all information that is game related. People can play dice and have it be provably fair. vDice is one example, though they are not getting any popularity in the Ethereum community. Pokereum is another example of an implementation of cryptocurrency with Poker. This project is far more refined than the dice game, but still isn’t gaining much traction. The primary reason is because Ethereum in the Ethereum wallet does not have dominance in the cryptocurrency market. Users primarily choose to operate with Bitcoin rather than Ethereum wallet due to the additional barrier of entry to obtaining Ether.

Another application of Ethereum is sports betting. It is possible, though not available yet, to operate a sports betting website entirely based on smart contracts. The way this works is by creating oracles which check websites such as NBA.com for results. At the moment, the biggest sportsbooks are still operating based on third party verification sources. It’s likely that the future holds a future for decentralized oracles, and we may see progress in the future.

Why use Ethereum for Gaming?

Ethereum is decentralized. This decentralization makes it impossible for fraudulent activities to occur, as all data must be verified on the blockchain. This allows websites to create provably fair betting systems, which are transparent and secure. As well, your Ether is safely stored inside smart contracts. It cannot be withdrawn without your permission, as smart contracts are operating on a decentralized network. Your Ethereum wallet stores your private keys, and is known only to yourself ideally. We expect Ethereum to revolutionize the world of gaming as we progress towards a decentralized society.

Numbers can be generated with smart contracts, and these numbers are stored into the blockchain. A random number generator generates a number for users when they play dice, and the probability is set in the smart contract source code. As a result, it is viewable at any time. The smart contract handles the data processing, and interprets whether the user won or lost again the house when gaming on a dicing betting website.

State of the DApps

A directory of all the decentralized applications for Ethereum can be viewed at http://dapps.ethercasts.com/ which shows all of the smart contracts and applications which operate on the network. These are largely open-source projects hosted on Github. Most are simple little tools for Ether, but some have real world uses. We can certainly expect to see more games in the future, including Open Face Chinese Poker, Monopoly, and original creations designed specifically for ETH. Project Torque will be announcing further games down the road, and we hope that people who participate in gaming will also enjoy using Ethereum.