Bitcoin as an Online Payment Solution for Punters

Despite the cryptocurrency arriving as a newbie to the online arena in January 2008 with the release of the first block, nicknamed Genesis, which represented the initiating mining opportunity for Bitcoin and saw its first transaction later that month between originator Satoshi Nakamoto and cryptographic activist and developer Hal Finney. It was Forbes magazine to coin the phrase “2017 Will Be remembered as the Year of Bitcoin” nearly nine years later due to the massive success and record-breaking volatility shown by the cryptocurrency during that fiscal year.

Survival

October 2009 received its equivalent value in fiat currencies with the New Liberty Standard establishing the value of Bitcoin as 1$ = 1,309BTC. May 2010 saw a Florida based programmer, Laslo Hanyecz transfer 10,000BTC to a volunteer working in England, who then spent $25 of the Bitcoin funds to order Laslo a Papa John’s pizza, today that pizza has a value of £1,961,034. August 2010 Bitcoin value drops through the floor from $1 to near nothing due to hacking that revealed a system vulnerability allowing them to create 184 billion Bitcoins. By February 2011 for the first time it reaches parity with US dollar, and by June each Bitcoin was worth $31.

Volatility

With its acceptance as a globally recognised payment form, year by year growing at an exponential rate Bitcoin enters January 2017 possessing a value of around the $1000 mark, exploding through the remainder of the year to finally see an all-time high of $19,783.06, stopping just short of the predicted $20k mark. Today this startling story of success currency remains responsible for almost half the world’s cryptocurrency trade value, in a crypto finance world that sees almost 100,000 bitcoin transactions occur each day with a current market cap hovering around $110,000,000,000 mark.

Principal Benefits

Since its introduction, the international finance community and mainstream world media filled its video feeds, written media, and rhetoric with an absolute deluge of bad press earmarking it as a snake-oil solution to non-existent problems, an enabler for illicit trading of all types, or a Ponzi scheme. It may be all of the above, yet the startup that began the cryptocurrency boom survived by offering two principal benefits to its users. This included relative anonymity and the freedom to engage in cross-border trade without becoming entangled in the mass of restrictive regulations fiat currencies that inevitably remain subject to the watchful eye of the various tax men and big brother.

Payment Solution

Due to its high value and widespread acceptance Bitcoin has absolutely no peer as an online payment solution, and if used in conjunction with an excellent VPN such as Tor and an eWallet its added levels of security and anonymity makes for the most versatile online payment method a person could wish for. Sports bookmakers were of the first to realise the opportunities offered by punter anonymity and start recognising cryptocurrencies, especially Bitcoin, as an accepted payment method. Punters looking for just such a solution can view an extensive list of leading online sports bookmakers accepting cryptocurrencies at a prime affiliate site such as Nostrabet.com. In addition, they also offer the latest updates on promotional bonus offers, as well as a large series of honest reviews of online bookmakers and their products.

Positive Future

The belief and acceptance in the future of Bitcoin and blockchain tech is such that two mobile manufacturers, HTC and Sirin Labs, are each set to soon release the first blockchain mobile smartphones.