Atlantic City Bitcoin (Ocean)
Atlantic City’s Bitcoin Consulting Service
Atlantic City Bitcoin provides consulting on all aspects of Bitcoin. A Certified Internet Security consultant is available for Bitcoin activities ranging from informal discussions to more formal presentations.
Bitcoin is an Internet currency that allows funds to be sent someone similar to sending and e-mail. It is “programmable money.” Bitcoin is both a currency and a payment system in one.
Bitcoin is ”decentralized.” This means there is no central authority or bank that oversees the system. The system works by thousands of people around the world running the software and connecting via peer-to-peer (p2p) connections to share the transition ledger.
Bitcoin provides almost instantaneous payments to anyone in the world any time of the night or day. Most transactions can be completed for transaction fees ranging from a fraction of a penny regardless of the amount transferred.
Low transaction fees allow small payments. For instance, a few pennies can be charged to view a web page or a video. This not possible with current payment systems due to the fees and other restrictions.
There is no possibility of a “chargeback.” Merchants can sell low cost items without fear of losing all their profits to fraud.
Bitcoin is not necessarily “anonymous” since all transactions are public and can be traced to Bitcoin “addresses.” The level of anonymity of a Bitcoin transaction is a complicated issue and depends on the specific circumstances.
Personal information is often not needed for transactions. Since there can be no chargebacks merchants do not need to collect personal information from customers. If the information is not collected then it can’t be stolen.
Online Bitcoin gaming is also becoming popular. An online casino can be started without even having a bank account. Players do not have to register and payoffs can be made after each bet so funds do not have to be held by the casino.
Cryptography can also be used to create scheme where casino games can be verifiably fair. Many Bitcoin casinos make this claim. However, these schemes are complicated and difficult for the average user to understand. Some systems have subtle flaws that could still allow the casinos to cheat.
Bitcoin investing has also become a hot topic. Bitcoin investing is extremely complicated and very risky. Most investment and exchange businesses are not insured and many have legal compliance issues.
Atlantic City Bitcoin operates state-of-the-art Bitcoin “mining” equipment. These computers add transactions to the Bitcoin ledger and receive “rewards” of newly minted Bitcoins which is how the currency gets distributed. “Mining” has evolved to the point where it is only profitable with specialized equipment and generally the only way to make a profit is to make an extremely high-risk investment in pre-ordered equipment months in advance and hope nothing goes wrong.