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What could be disadvantages of using Bitcoins?

September 3, 2014

Bitcoin offers a lot of advantages to its users and this is the reason why it is become exceedingly popular. However, there are certain serious disadvantages which the Bitcoin developers will have to take into consideration to make the model more robust and stable.

Bitcoin prices are very volatile

One of the biggest drawbacks of Bitcoins is that its prices are very volatile. The prices keep changing very frequently and sway to the extremes. If there is a certain price to Bitcoin today, it may swing to something completely different tomorrow. This is the reason why many experts are not very positive about the future of Bitcoins. But there is one point that we cannot miss.

Although Bitcoin usage has grown in the past, it is still relatively not used much. Since there are very small numbers of transactions, even the smallest thing can affect the price of Bitcoins. However, as the Bitcoins usage will increase, it will become more stable. Only the future will tell whether Bitcoin will become the mainstream mode of financial transactions or not.

Not many people are aware of it

We have seen that the popularity of Bitcoins has increased over the last couple of years; however, there is still a very long way to go. Only a very small percentage of the world population knows about Bitcoins. Out of the people who know about it, very few actually know how to use it. Since Bitcoin does offer many advantages too, to make it a better and stable currency people will need to get more aware of it. There are people who are using Bitcoins for the reasons of profit making and they are trying their bit to increase their awareness. However, all the users who have benefitted from Bitcoins should put in good words for it.

Bitcoin network and software is still getting developed

The Bitcoin network is still in the development phase and hence there are many things which are still incomplete. There are many security features which are still being developed. Additionally, the Bitcoins are not regulated by any authorities hence the system is still not very organized. One of the biggest disadvantages is that Bitcoin software is an open source code. This is why people can create their own protocols. For the Bitcoins to be available to the masses there needs to be consensus on the protocol.

Gambling with responsability

March 14, 2014

Gambling is only fun when you know what you are up for. You should not completely be sucked into it so much, that it will then be hard for you to come out of it. You should make sure that you know that it is only for entertainment purposes and nothing else. Maybe you like gambling because you want to compete with your friends and win and then boast about it, but that is all that your should be doing. You have found the right place to find the best Bitcoin Casino. But make surey our life should not depend on it and if you lose by any chance you should be ready for it and not take it in your stride and try to take revenge in bad way. People get addicted to a whole lot of things, and gambling is one of them too. It can be quite dangerous if you do not put a stop to it in the beginning itself.

Gambling should only be a game and it should only help you take out all your stress and pass your time. If you are a gamer and you have control over what and how you play then you are on the right track, but if you cannot accept losing, then maybe it is time for you to quit right away before it is too late. Additionally, avoid online Bitcoin poker sites as they might induce you to gamble more often because it becomes there is a social component to poker.

Here are some tips below, which will help you to avoid the Bitcoin gambling addiction

  1. You should know that a gambling addiction can happen to anyone and you are not the first victim who is undergoing it.
  2. When you want to play and you have a craving, set a time and the amount of money that you want to put it before you start playing. Make a list of things that you can replace with gambling, like go to the spa, go watch a movie, etc. Do some of your favourite things.
  3. Do not take money from your friends and family because you do not have money to play with.
  4. Do not lie to your loved ones about where your money is and what you are doing with it.
  5. Gambling is not a solution to your problems and neither is it a place for you to pass your time and forget your troubles.
  6. If you have the craving to play, remember all the losses that you have gone through already.
  7. Go for counselling or talk to your close ones who can help you out of the problem.

There are many ways for you to stop your addiction and if you have loved ones around you, they are always there to motivate and divert your mind.

No need to run scared, if you are dealing with Bitcoins Gambling

October 31, 2013

Let us know something more about the Bitcoin exchange procedures. Assure yourself with this article, whether you need to run scared or play safe. You all know that these transactions over the Bitcoin network can happen almost instantly or even take a few hours. The bitcoin transactions like depositing and withdrawing balances are done through their respective addresses and they are almost free.  Presently, buying and selling of bitcoins are considered totally legal. The bitcoins can be bought from a no. of agents like bitcoin wallets, bitcoin exchange windows or you can simply exchange them from a friend in return for money.

There are lots of thing bitcoin can be used for; however, you don’t need to be a genius to understand how it works. It is a virtual currency all in all and can be put to use when taking part in any form of online gambling. It simplifies the process and thus, the returns are much faster and retain their true value.

This is the same reason, why many market experts consider bitcoins to be a natural fit for any form of online gambling. Significantly, it reduces the situations and the chances of government agencies from seizing your earned value, because they are a de-centralized form of currency.

This is enticing for the online gambling world and their operators as there are many arbitration rules which fall under the offensive side of the law. Many professional poker players in the US and people into sports betting, all know the complications involved when matters go legal, where betting is mostly done under the command of dollar. As of lately, there have been many cases, where the US government has seized a hundred of dollars from online gamblers and their offshore based operators.

The beneficial factors of dealing with bitcoin gambling are that it’s not a legitimate form of currency in majority of countries. The government agencies won’t be able to seize your money, as nothing can be traced under peer to peer transfer of funds.

Truly, the bitcoin gambling market has exploded to a larger extent and as a result of which an array of latest bitcoin gambling based online casinos, poker games and sports betting have come in. Gambling is that one thing which has been in human lives since a long time, and the advent of bitcoins have just eased it out. The simpler the processes are, the more are the takers.