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 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.
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.
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.