Bitcoin is a form of electronic cash that’s completely decentralized and peer-to-peer (P2P). Transactions occur without the involvement of banks, clearing houses, or other intermediaries. Instead, transactions are verified by a network of computers called miners. This means that the transaction is recorded permanently in a public ledger known as the blockchain. Because of the way that this system works, bitcoin is often called the “first truly global currency.”
A Global Currency
The concept behind Bitcoin and big win casino may seem complicated, but it boils down to these two components:
1) A digital currency that can be used for online payments, just like traditional currencies like dollars and euros;
2) A distributed marketplace where trades are made between users through the use of mining.
The fact that Bitcoin can be exchanged on an open, decentralised market with no central authority is one of its key features. As such it has been called anonymous money, something like gold for the internet, a crypto version of PayPal or perhaps better still – Facebook credits. It allows you to avoid censorship, control what information they have about you, and to move your funds across borders, at least into some degree, without any third party interference.
Future Predictions
As we speak, there’s more than $100 billion being invested into cryptocurrency projects worldwide. That number will continue to grow exponentially over the next few years. Some people believe that it could reach well beyond the trillions of US Dollars over time. However, all predictions are based on speculation rather than financial experience. So there really isn’t much point me talking about what I think will happen. Most importantly though, as long as enough people find value in using them, cryptocurrencies will exist and grow.
The Bottom Line – Immersion into Global Markets
Today, we already see that BTC is almost dominant in the online gambling, NFT, and Video Gaming Worlds, just to mention a few. With smart contracts coming soon and Ethereum having their own DAOs, ICOs, and Decentralized Applications for many different markets; and with Ripple gaining momentum globally, who knows how big the future might look? Just keep in mind that any prediction is just that, a prediction!
