As the popularity of Bitcoin rises, the demand to know what is Bitcoin increases at the same time. Basically, it is known and adored for its convenient features. The new currency is popular in the online gambling industry. These sites offer the best Bitcoin poker games and other classic and modern betting games. Some would define it as ‘internet cash’. You can use it to receive and send payments from anywhere in the world. However, this definition is not enough to explain and fully understand what is Bitcoin.
What is Bitcoin?
Bitcoin is a decentralized peer-to-peer payment network. It is a digital currency and it only exists electronically. Bitcoin has no physical form and the currency uses techniques generated through a computer program. All of the mentioned aspects provide users the convenience of having financial transactions over the internet. There’s no need to have a credit card or even the help of banking institutions.
All these characteristics make it great for playing poker. Today, you can find anonymous Bitcoin poker rooms, an assortment of Bitcoin poker online games, and a growing number of Bitcoin poker sites. If you want to test your skills or try out the games with confidence, playing with bitcoins is the way to go.
Who created Bitcoin?
An assumed developer under the name Satoshi Nakamoto first described Bitcoin. It is defined as ‘a new type of digital currency’ in a 2008 paper. Then, its first software has been released in January 2009 under open-source MIT license.
Ever since the introduction of what is Bitcoin, it has spread across numerous industries. One of the biggest markets to make the most of it is the online gambling market. It turned into an instant star once bettors found out about its advantages. Today, you can play Bitcoin poker anytime and anywhere. Lots of websites are now ready to cater to those who want to bet on poker games using bitcoins.
Who controls the Bitcoin network?
No one controls what is Bitcoin. No one can change what’s behind the technology. Users from all around the globe contribute to the Bitcoin network. Though the developers improve its software, they have no power to force a change in the system. Users of the currency can exchange bitcoins via a peer-to-peer method. This ensures that no one intervenes with transactions. Not even a bank or any government can get in the way of deposits and withdrawals. Learn more about how to buy bitcoins and how to play with bitcoins.
The fact that no central government or entity controls Bitcoin means that you don’t have to worry about your credits getting frozen or seized. No one has the right to take away your bitcoins. You have 100% ownership of your wallets and what’s inside it.
Moreover, since all transactions are free from third-party processors, you can expect poker action real quick. Bitcoin is known for its lightning-fast transactions. You can fund your gaming accounts in a snap. This goes the same for withdrawals. You don’t have to wait for days before you can cash out your winnings. Requests take no more than a few hours and some are able to payout in seconds. Still intrigued what is Bitcoin all about?
Is Bitcoin legal?
Recently, Bitcoin has not been made illegal by legislation in any jurisdiction. You can even use it to play poker with Bitcoin bets. There are still no laws that prohibit its use. Many are still trying to grasp what is Bitcoin. It is important to take note that there are some jurisdictions that strictly ban all foreign currencies such as Argentina. On the other hand, there are jurisdictions that may limit the licensing of certain institutions like exchange platforms for Bitcoin. One example of which is Thailand. Up to now, regulators from various jurisdictions continue to work on certain regulations to provide rules and measures on how to use Bitcoin the right way. Hopefully, they can come up with a set of rules and measures that work well for everyone.
‘What is Bitcoin?’ is the definitely one of the most asked questions nowadays. After answering the common questions, you can jump right in and start to enjoy what Bitcoin poker brings. From fast Bitcoin poker deposits, almost instant Bitcoin poker payouts, and lots of Bitcoin poker faucet sites, you can get in the middle of the action in no time.
With the long list of features, using Bitcoin to play poker cannot be more secure. While some countries chose to regulate its use, Bitcoin remains to be legal in most places. There are no laws that prohibit what is Bitcoin and its gambling applications. Thus, as long as your country does not have any Bitcoin restrictions, you are free to use it to play poker anytime you want.
After all, who would want to miss the chance to experience the wonders my Bitcoin poker games bring by simply not knowing?