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How to Get Started With Bitcoin Gambling?

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Apart from entertainment, the other awesome part of the online gambling is massive wins. The online casinos offer its player various added incentives, bonuses and even free chances to play the games so the players can get huge returns for their waged amount. They also offer different methods of payments to depositing and withdrawing these amounts. These payment methods involve Debit/Credit card payments, depositing directly through the bank and even Digital wallets. Currently, a new platform of payment called cryptocurrency has arrived, the most popular one being Bitcoin. Know all about Bitcoin and how you can easily play scratch card games at online casinos through Bitcoins.

What are Cryptocurrencies and Bitcoin?

A digital currency based on blockchain technology that uses cryptography for security is known as Cryptocurrency. These digital currencies come with peer-to-peer, decentralized network systems which indicate that they are not
by any country’s central banks.

Bitcoins are first of cryptocurrencies that emerged in 2009. Bitcoin occurred in the market as open-source software through which this cryptocurrency can be bought and used for the transaction by anybody. Also, the transaction done does not involve any intermediaries.

How to get the Bitcoins and store them?

The trend of E-wallets is on the rise that allows users to store their money in a specific virtual location. The same goes for Bitcoin. There are three different types of Bitcoin e-wallets designed to store the Bitcoins. They are online Bitcoin wallets, offline Bitcoin wallets and Hardware e-wallets. These wallets can be used to store the Bitcoins which also keeps the track of the transaction made through it.

Online

Bitcoin wallets: Just like many other e-wallets, online Bitcoin wallets are also cloud-based services that let the users store their Bitcoins on an outer server. These servers are set by third parties that are responsible for them.

Offline Bitcoin wallets: This comes with the option of a software. The software is to be installed on the user’s computer where the Bitcoins can be stored as well as used for various transactions. The user itself is in-charge of his Bitcoins in case of offline Bitcoin wallets.

Hardware Bitcoin e-wallets: The last option comes with Hardware Bitcoin e-wallet devices which are portable and can be used to store Bitcoins in them. The most popular of these devices are Trezor, Ledger Nano S to name a few.

Once you choose the option to store Bitcoins, you can move to them online itself. There are third-party websites that help connect the buyers to sellers. The real money must be deposited to these third-party websites through online bank payments. Once the funds are transferred, the buyers get to place the order for Bitcoins through the exchange for real money. This step is similar to the trading stocks.

How to use Bitcoins on Online casinos?

Nowadays the online casinos have added another way of financial transaction and that is through Bitcoins. Players can avail many online games through this method of payment. You can also play scratch card games by depositing bucks through Bitcoin wallets.

Players can access the Bitcoin wallet option in ‘Payments’ or ‘Banking’ section of online casinos. Players can add and withdraw Bitcoins through their Bitcoin e-wallets without sharing any of their personal information on the cyberspace.

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Bitcoin Set to Shatter $100K in 2020, Says Ross Ulbricht – BTC, Ripple, XRP, Litecoin Updates

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From a Bitcoin forecast by the creator of the notorious Silk Road marketplace to rising volume on the XRP Ledger, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Bitcoin is poised to surge to $100,000 over the next year, according to the founder of the darknet market Silk Road, which was known for selling illegal drugs and illicit goods.

Ross Ulbricht is serving a double life sentence plus 40 years without the possibility of parole for running the online marketplace, where users transacted in Bitcoin.

In a new blog post on Medium, Ulbricht says he’s getting Bitcoin charts sent to him in prison on a weekly basis. He’s tracking the leading cryptocurrency’s trajectory using Elliott Wave Theory, a market analysis method that aims to predict future price action by identifying crowd psychology which manifests in waves.

Ulbricht says his analysis of the first cycle, which is broken up into five waves, shows BTC is likely to reach $100,000 in 2020.

“If the price move of wave ⑤ was on par with ① and ③ (530–620x), it would have to end around $93,000-$109,000.

Thus, if our interpretation that wave ⑤ is not over, and the ~$20,000 peak was just wave (3) of ⑤, then a good target for the end of wave ⑤ of ⑤ of I is around $100,000.”

Source: Medium

Despite his imprisonment, Ulbricht is considered a pioneer in the crypto industry, and more than

250,000 people have signed a petition urging for his clemency.

Venture capitalist and Bitcoin bull Tim Draper recently made headlines by calling for his release.

“I get that he’s got to be an example, and he stepped over the line. But he’s been in jail for a while. Get him out. I cry when my cat goes into a cage, it tears my heart out when these prisoners go into cages.”

Ripple and XRP

New numbers show the use of Ripple’s XRP-powered cross-border payment product On-Demand Liquidity (ODL) may be on the rise.

The Liquidity Index Bot shows record XRP volume this week against the Mexican Peso on the crypto exchange Bitso.

Bitso is one of the exchanges powering ODL, and money transfer giant and Ripple partner MoneyGram says it’s now moving 10% of its daily transactions between Mexico and the US by using the liquidity product.

Litecoin

The Litecoin Foundation’s efforts to raise money to fund the research and implementation of privacy features appear to be paying off.

The Foundation has now received 163 LTC worth about $7,230 at time of publishing.

Litecoin creator Charlie Lee says he will match every donation. The money will fund efforts led by developer David Burkett to implement the Mimblewimble protocol.

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Ethereum’s Contract Failure Rate Rose Drastically After Istanbul Hard Fork

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Ethereum’s hard forks rarely run like clockwork. The last batch for the Parity client was released just before the fork, but some acute concerns remain.

While running more or less smoothly from a technical perspective, Ethereum’s Istanbul upgrade has caused some problems within the network’s operations.

Smart Contracts Fail

Antoine Le Calvez, Data Engineer at Coin Metrics, highlighted on his Twitter page some of the problems of Ethereum (ETH) network caused by switching to the Istanbul rules. After launching its hard fork last Sunday, the price of gas (small transaction fee used to reward Ethereum miners) was redesigned.

It is from these gas price dynamics that led to unexpected consequences. According to Mr. Le Calvez:

on a global level, smart contract calls running out of gas became much more frequent following the hard fork.

La Calvez calculated the rate of smart contract failure due to gas insufficiency and noted that “failure rates more than quadrupled”.

Rate of the smart contracts out of gas rose after Istanbul Ethereum hardfork

Image by: https://mobile.twitter.com/khannib/status/1204032838166822916

Mr. Le Calvez also found out that some exchange users were facing challenges in the post-Istanbul Ethereum. For instance,

some transfers from the Gemini multi-currency exchange towards its own hot wallet were rejected due to out of gas errors.

That’s What Bitcoin Tries to Avoid

The assumptions of Mr. Le Calvez excited numerous crypto traders, developers, and researchers. Lucas Nuzzi, Head of Research at Digital Assets Research, compared the problems of Ethereum with those of a post-fork Bitcoin (BTC). He said that such transformations have “led thousands of dApps to fail”, and that this should be regarded as a form of censorship.

Mr. Nuzzi further stated that Bitcoin faced challenges of this type while implementing the multi-signature features. This experience made Bitcoin developers reconsider their attitude towards backward compatibility.

Ethereum’s Istanbul Hard Fork occurred on December 8, 2019 on Block #9069000. It was one of the last systemwide upgrades of the Ethereum 1.0 network.

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Lisk (LSK) internal pressures seeing huge 40% employee cuts

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  • Lisk project has cut a chunky 40 percent of its staff and some quitting. 
  • The company said the move is part of efforts to improve its operational efficiency

The Lisk (LSK) project has reportedly fired some 40 percent of its workforce, with reports also suggesting that employees quitting the company in droves. 

However, the Lisk hierarchy noted that the move is part of efforts to improve its operational efficiency. Community members are somewhat sceptical saying the project is looking like another potential failed altcoin experiment. 

 Lisk co-founder Max Kordek, posting on the project’s Discord, wrote: 

Today, at Lightcurve, we laid off 21 of our employees and terminated the contracts of three employees who were yet to join. This concludes the recent wave of terminations you may have observed. We are now ready to go completely dedicated into 2020 with a solid team of 31 individuals on the Lightcurve side.

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Source: fxstreet

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