Solved

Bitcoin machines and gaming

Posted on 2014-03-11
2
350 Views
Last Modified: 2014-03-20
Hi experts,

Recently, bitcoin machines were setup in Singapore and people can buy them for online gaming.

Can someone give me a 2-3 liner explaination what is bitcoin and how it can be used by young adults for online gaming?

Thanks
0
Comment
Question by:sharepoint2014
2 Comments
 
LVL 47

Expert Comment

by:dbrunton
ID: 39922627
Bitcoin is a form of currency generated by computing devices (you can use PCs to do this, but the big investors use specialized devices).  It has no physical form like coins or notes but exists only in computing devices (storage).  To pay for anything you transfer your Bitcoin from your storage device (cloud, USB stick, computer, etc) to someone else's Bitcoin storage device.  In this case it is probably an online gaming machine.

To really understand Bitcoin refer https://en.wikipedia.org/wiki/Bitcoin
0
 
LVL 61

Accepted Solution

by:
btan earned 500 total points
ID: 39923358
Bitcoin is digital currency, also referred to as BTC. imilar to PayPal, Bitcoin allows you to own and transfer internationally accepted currency conveniently at a standardized price. Unlike your bank activity, there is no cost to use the network and your Bitcoin activity is kept completely private and anonymous. It can be generated using real money and in existence at the exchange rate of approximately USD $200/BTC.

To get a more detailed list of online and real world businesses that accept Bitcoin, please check out Bitcoin Wiki Trade Section. In your use case, this gaming is where you exchange the BTC for credit to play or buy asset. It differs for various games, so you may want to see the list and find the one supported and details

by the way, this is from Singapore and trading online  https://www.itbit.com/p/about
0

Featured Post

Comprehensive Backup Solutions for Microsoft

Acronis protects the complete Microsoft technology stack: Windows Server, Windows PC, laptop and Surface data; Microsoft business applications; Microsoft Hyper-V; Azure VMs; Microsoft Windows Server 2016; Microsoft Exchange 2016 and SQL Server 2016.

Join & Write a Comment

Suggested Solutions

This is about my first experience with programming Arduino.
In the modern office, employees tend to move around the workplace a lot more freely. Conferences, collaborative groups, flexible seating and working from home require a new level of mobility. Technology has not only changed the behavior and the expe…
Saved searches can save you time by quickly referencing commonly searched terms on any topic. Whether you are looking for questions you can answer or hoping to learn about a specific issue, a saved search can help you get the most out of your time o…
Where to go on the main page to find the job listings. How to apply to a job that you are interested in from the list that is featured on our Careers page.

705 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question

Need Help in Real-Time?

Connect with top rated Experts

18 Experts available now in Live!

Get 1:1 Help Now