Bitcoin emerged about 10 years ago: Satoshi Nakamoto published Bitcoin’s manifesto in 2009 and changed the world forever. We have been able to do many things for almost 10 years using BTC: Bitcoin casino no deposit bonus campaigns, online purchases, payments, global money transfers… Cryptocurrencies can literally be used for everything and we owe it all to Bitcoin. So, what’s going on in Bitcoin for the last 10 years? What awaits us in the future? First, let’s look at some interesting statistics.
- The size of a Bitcoin block is 1.22 MB on average. There are 12.5 BTCs in each block. These BTCs are found by miners. To give you an idea, 109 blocks have been mined in the last 24 hours. A single block can be mined in an average of 12 minutes.
- However, Bitcoin mining is not such a simple task: If you are working alone and using a normal PC, it will take about 1.367 years to earn 1 BTC through mining. However, as the block difficulty will be rising, this period will increase. When we come close to the last block, the difficulty will be much higher and earning 1 BTC through mining will last 6,000 years on average for a single person.
- There are a total of 21 million BTCs that can be mined and professional miners work by using special computers for this job, called ASICs. All of these computers are connected to each other over a network and using common processor power. You can’t compete with them alone, so don’t even try – you will just waste electricity. When the processing power of hundreds of computers is used jointly, the block mining time is decreasing. This is the reason why an average of 110 blocks a day can be mined.
- If you’re wondering, there are 4 million BTCs left to mine. For the last 10 years, a total of 17 million BTC was mined. It is expected that all blocks will be finished in the year 2140. The reason for this is the increasing difficulty of the blocks: As the number of blocks decreases, the processing power required to mine them is increasing.
- While you read this article, an average of 260,000 BTC transfers was made. Their total value was about 865 million dollars. Every day, more than $ 500 million worth of BTC transactions are made.
- Only 8% of Americans own BTC. 40% do not understand what the cryptocurrencies are. 18% believe that all cryptocurrencies, including BTC, are a scam.
- The following countries do not have a legal arrangement for BTC or recognize it as a legal currency: The United States, Canada, Australia, Finland, Cyprus, Belgium, United Kingdom, Germany, and Bulgaria.
- The following countries see BTC as an illegal “tool” and prohibit its use: China, Russia, Vietnam, Bolivia, Columbia, Ecuador, and the majority of Middle East countries.
What Awaits Us in the Future?
The real question here is “what happened when there are no BTCs left to mine?” At the moment, new BTCs are added to the blockchain on a daily basis. So, what happens when this stops? People will lose interest in BTC? Do we get to spend it all?
Actually, finalizing the mining process is not a bad thing at all. Think of Fiat currencies: At the moment, there is a certain number of USD banknotes in the world, for example. So, when it comes to numbers, Fiat currencies also have limits. You may think that governments may “press” new banknotes to increase that number, but this is a common misconception. Yes, the governments release new banknotes to the market, but they also collect the “old” ones. This is how you fight with inflation actually. If you do not control the number of banknotes in the world, there will be too many of them and this will result in inflation. In other words, every currency needs to have limits.
The advantage of BTC is, we know what this limit is: 21 million. There cannot be more than that. When we reach that magic number, BTCs won’t vanish. They will still be used to purchase goods and services. However, since everybody will know there won’t be any new BTCs at all, their value will increase. Do you think that BTC is a “pricey” currency nowadays? Wait for all of them to get mined – the prices will really increase then.
This may also create another type of inflation but BTC has a solution for that: Satoshi. A Satoshi is the smallest unit of BTC – think of them dollar cents. 1 Satoshi is equal to 0.00000001 BTC – you need 100.000.000 Satoshi to “create” 1 BTC. At the moment, Satoshi is nearly worthless. It is even possible to earn them for free, by using several websites. But when all BTCs are mined and the prices rise, Satoshi will become much more valuable. A service that costs 0.5 BTC today will start to cost 1.50 Satoshi, for example. So, there will be no real inflation: The market will balance itself.
Although, none of these predictions is a “guarantee”: BTC has lots of competitors nowadays and they are all more technologically advanced than Bitcoin. The market and the people may choose to use one of them, for example, Ethereum. In any case, we are sure of one thing: The next 10 years will be the time of cryptocurrencies, whether it is Bitcoin or not.
Guide for quick Start in Sports Betting: Tips and Advice for Beginners
Beginner’s tips and guide to online sports betting. Everything you need to know before you start wagering on bookmakers’ website.
Quickstart in Sports Betting: All You Need to Know
Are you a sports fan who has decided to take your love for the game to another level? Trying to get started on a sportsbook website? Then you are reading the right article at the right time. Using the expertise acquired from several years of sports betting, we have put together a rich guide to help you figure out all you need to know about online sports betting. Also, we have a few to tip that can enable you to make money from wagering on sports online.
How to Get Started
Among all kinds of online gambling, sports betting is considered the easiest. Let’s start from the signup stage, a lot of gambling website makes it easy for punters to sign up as long as they meet the legal gambling age required. To start wagering on the sportsbook website, all you need is create an account. Once your account has been verified by the bookmaker you are then allowed to bet on the market available.
What You Should Know
Before you start wagering on any online sportsbooks, you need basic knowledge of the market offered, types of wagers, how odds work in online betting and payouts. Below we are going to briefly explain all of these basic components of online sports betting.
About Betting Options on Online Sportsbook
Betting markets vary, and two bookmakers selected at random will most likely not have the same betting options to offer. However, there are certain events in popular tournaments, leagues and competitions that most bookmakers like to host. Since you cannot bet on all the events, it is only wise to choose from events listed under your most preferred sport where you presumably have more knowledge. Most bookmakers list events based on sports options. There is usually a lobby list with all the sports options and when a particular sport is selected all leagues and events under it will be revealed.
Asides knowing about betting options, new bettors also have to know what odds are in betting and how they work. Odds are simply used to determine how much you are likely to gain from the stakes you place. Odds come in three forms which are Odds on (likely to offer lesser rewards than the amount staked), Even Odds (offers the same amount staked), and Odds against (likely to offer more than the amount staked). After selecting an event you want to bet on, the next thing is to select your preferred odds, which can either be displayed in decimals, fractional or Moneyline. The next step to selecting odds is entering your stakes on the bet slip which will then reflect your potential winning. What is worth knowing while placing your stake is that the higher the odds, the higher your potential reward. However, wagers placed on high odds are less likely to win.
Payouts and Withdrawals
This is the part most punters are interested in because this is the targeted end game of bettors. Payout is the amount paid by the bookmaker to the bettor, only if the selection chosen is correct. Payout also includes the original stake placed, this is added to the amount won and all can then be withdrawn by the winner. It is important to know a player must have deposited with the bookmaker from the onset before stakes can be placed and winnings can be cashed. Bookmakers pay out hours after winnings have been confirmed.
On bet2win.com.ng page you can read more about beginners betting tips and how to hedge your betting odds, one of the most reliable betting sites for Nigerian punters!
Banning iGaming in Nigeria would be a terrible decision and here’s why
Several opinions have been voiced in the Nigerian government that iGaming is a detriment to society and needs to be removed completely. The term iGaming consists of pretty much everything resembling online wagering. Things such as sports betting and online casino games are considered as iGaming and the Nigerian government wants to get rid of them ASAP.
The sentiment towards this industry is understandable. It’s basically like a sink for the funds which are already quite scarce for the Nigerian population. Having these operators claim the funds of the local population with promises to pay them back double or triple seems like a pyramid scheme, but in reality, it isn’t.
The industry is quite popular all over the world. Places like Europe, Asia, and even the heavily regulated Northern America thrive from iGaming but don’t ban it completely. Why? Because it’s nothing but an introduction to underground gaming rings and criminals.
Where the problem is more systematic
As of right now, the biggest iGaming problem for Nigerians is noticed in schools and universities, where students find illegal contractors and place bets on a specific sports match that will be happening anytime soon.
Due to the naturally high risk of sports, whose outcome is usually hard to predict, many students tend to lose a lot of money they simply don’t have, and therefore end up in debt. There have even been cases where students wagered money dedicated to their tuition and lost it all.
These are the cases that the Nigerian government emphasizes and they are completely warranted. Such activities need to be controlled, discouraged and most importantly banned, as long as the whole industry isn’t banned.
What could be the side effects of a ban?
Banning iGaming in Nigeria will not discourage all of the sports betting activity happening within schools and universities. As already mentioned above, most of it is happening through illegal contractors who simply have enough funds to pay out the winners and that’s it.
Now, Nigeria has over two dozen companies that operate in this industry. These companies pay taxes based on their profits and usually adhere to everything that is forced upon them from high above.
These companies are the representation of supply for iGaming. Currently, the demand already outpaces the supply as school and university students choose illegal contractors.
Should the already available supply be taken out of the equation through a nation-wide ban, it would incentivize even more illegal contractors to set up shop. Why? Because the demand is still there, nothing was done about it, it’s just the supply that was removed.
By placing a ban on iGaming, the government will essentially blind itself to the local situation by not having access to the data that registered companies gather, nor will they receive any kind of tax from the industry as it will all continue to operate underground.
What could possibly be the solution?
Several experts have said that introducing a maximum amount that a person can deposit every month could be the solution, but that’s exactly why people go for illegal contractors as they don’t have these artificial caps.
The best solution, for now, would be to regulate the industry under the government’s control. This means that private companies will have to close up shop and leave, and the government will replace them through SOE (State Owned Enterprises).
However, this needs to be undertaken in a very cautious manner, as other countries who currently have monopolies on gambling are starting to see their population combat them.
Such is the case in Finland, where a local casino news outlet NorskeCasino.casino reported that the local population is starting to see the monopoly on gaming as nothing but a cash grab from the government.
It’s extremely important that the ruling party goes about this very carefully as it can have very serious political ramifications. Any kind of gaming addiction case after this implementation would be blamed on them.
But why would this work?
Once the government has the industry firmly in their hands, they can very easily remove any and all caps on the maximum deposits. The SOE could not focus on profits, but much rather focus on self-sustainability, this means regular cashback, beneficial offers and overall support of the customer base.
The removal of the cap brings the illegal gamblers into the fold and adds even more income to the government, which can later be invested in agencies dedicated to fighting gambling addiction or just infrastructure and fighting poverty.
Overall, the added control the government will get over the industry should be a great temporary solution, but it won’t hold forever as displayed in Finland.
Sources for this article:
Convenient livescore app
Today, thanks to the unique livescore app, it’s easy to keep abreast of the events and always get the latest news from the world of football. This is very important, because the top-5 championships have already started and the opening matches have shown that there is a place for sensation.
Despite the fact that the current winner of the French championship is PSG, and this time it is a favorite again, the team is experiencing certain difficulties. They are mainly associated with the figure of Neymar, who often sabotaged training. This affected the results of the team, because already in the second round it lost to Rennes.
In spite of his fact, PSG is the main favorite of the season, if only because none of the competitors have such a selection of players as the team of Thomas Tuchel. This summer they were joined by:
- Ander Herrera;
And this is not a complete list. As you can see, the Parisians stopped spending big bucks on transfers and instead decided to focus on quality. In the near future we will see whether this will bring results at a long distance. In the history of the team there were more high-profile signings, which, however, did not provide the desired effect.
In any case, the main goal of the Parisians for this season will be not the national championship, but performance at the international stage. It seems that everyone is already used to the fact that PSG regularly fails in the Champions League, but this time Thomas Tuchel intends to break this trend. This is confirmed by the purchases of the Parisians this summer, which are primarily aimed at constructive midfield.
Advantages of use of the livescore app
Functional and simple livescores app is a convenient method of following the matches of PSG and their rivals. Here, not only the results of matches are updated in real time, but also various statistical indicators.
Having preserved all the leaders (except for veterans Dani Alves and Gigi Buffon, who left the capital of France as free agents), PSG, of course, became stronger, plus its teamwork improved. However, is this enough for a successful performance in the international arena?
The first matches of the new season of the French championship already showed that even the Parisians with their selection of players will have hard times. That is why we can safely expect a competitive season in which PSG will have rivals in domestic tournaments. The probability of this increases if the Parisians, like the previous time, openly quit playing at the end of the championship and begin to give points to every competitor.
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