Article Analysis Bitcoin Online Gambling - 1538 Words

Article 28 – Bitcoin online casinos come under attack As far as innovations go, few have been as big or a technologically relevant as bitcoin. The cryptocurrency has taken the world by storm and is now a key element within the world of online casino gaming. The new innovation has undoubtedly improved how the online casino industry operates, providing players with more financial freedom from a gambling perspective. While that is the case it has been in for some controversy as of late, as various online gambling websites that utilise bitcoin have suffered notable security breaches. Hufflepuff magics away over $1 million Considered very much to be an insider online gambling website, Primedice may not be something that many players have heard of. The website that runs a simple a dice throw based game, with a basic wagering system and even simpler house edge. All any player needs to do is a log-on, place a wager, roll the dice, and hope that their luck is in. Site member Hufflepuff became an instant online villain. After joining Primedice back in August 2014, the player began to bet $8,000 a second for hours on end, a figure that is absurd considering the premise of the website. In total Hufflepuff won over $1 million during his time playing, working out at 2,400 bitcoins. Many were scratching their heads at how he or she did it, before site admin eventually figured out that Hufflepuff had figured out how to hack in and see the encrypted value of the dice before it was rolled.Show MoreRelatedStructural Advantages Of Blockchain Technology7001 Words   |  29 Pagesterms of durability, blockchain-based cryptocurrency presents an advantage in that it is significantly more resistant to outside attack: That is, it’s easier to counterfeit paper bills than it is to control more than half the computing power in the Bitcoin network, for example. In regards to integrity, blockchain-based cryptocurrency presents significant advantages in that the purpose of any currency is to be 1) a store of value and 2) medium of exchange. As for the first issue, the ability of anyRead MoreMarketing and E-commerce Business65852 Words   |  264 PagesOrbitz Charts Its Mobile Trajectory CHAPTER 5 E-COMMERCE SECURITY AND PAYMENT SYSTEMS Opening Case: Cyberwar: MAD 2.0 Insight on Business: We Are Legion Insight on Technology: Think Your Smartphone Is Secure? Insight on Society: Bitcoin Case Study: Online Payment Marketplace: Goat Rodeo CHAPTER 6 E-COMMERCE MARKETING AND ADVERTISING CONCEPTS Opening Case: Video Ads: Shoot, Click, Buy Insight on Business: Are the Very Rich Different From You and Me? Insight on Technology: The Long Tail: