Bitcoin Gambling: Legal or Not!

Many discussions took place about the legal aspects of the Bitcoin Gambling. Being a digital currency, numerous casino aficionados worldwide use Bitcoin as a form of payment. However, some cannot keep reflecting the legal issues of this type of gambling, especially when Bitcoin is decentralized.

Is gambling with Bitcoin legal?

Speculating on games with Bitcoins use the core principle of online casino gaming. It is similar to other kinds of betting on the web, but the difference is in the mode of payment. You place a bet to play a round of any Bitcoin-powered casino game with the hope of winning and collect rewards after that. However, instead of using traditional currencies like USD and EURO for payment, these Bitcoin gambling sites use Bitcoin for making payments.

Even though online betting casinos and gambling sites are using Bitcoin as a payment method, this does not automatically qualify the business illegal. In fact, the Bitcoin betting laws are generally like the gambling rules that supervise the traditional online casinos. Thus, as a result, should exclude any alienation of Bitcoin as a mode of payment from the legal issues of online gambling.

Bitcoin-and-bars

What makes gambling with Bitcoin legal?

It should be a common system to follow the gambling rules, terms and conditions before placing the wager. Every online casino has its own set of rules that every bettor must follow, hence be knowledgeable of the rules. It is a mandatory step to end any type of confusion and misconception about Bitcoin gambling.

Bettors should realize that the rules in Bitcoin casino sites and traditional casino sites may not be same and you may find gambling sites that allow US members, but still refuse to offer them Bitcoin services. Additionally, many online casinos are very strict with the minimum age limit of the players who can place their bet on their site while many casinos are not so strict and allow almost anyone with a Bitcoin wallet to place their bet.

The main idea behind this is you as a bettor can follow any rules in your discretion. Therefore, if your country does not allow Bitcoin gambling, then it is not allowed. However, history suggests that no such rules are carried out and thus, makes playing casino games with Bitcoin completely legal. Nevertheless, if you live in a country that strongly opposes online gambling, then it is a different story.

Despite being an online digital currency used in online gambling, sportsbook and other sectors for payment, the authorities have mostly viewed Bitcoin as a commodity not as a currency. Thus, dismissing any possibilities of bettors breaking the laws while placing the bet in Bitcoins and making Bitcoin gambling perfectly legal.

Article by Media21Geneva – latest news. Learn more about us here.

 

Bill Gates No Longer Biggest Shareholder of Microsoft

After selling almost 8 million shares, Bill Gates, the founder of Microsoft, is no longer the computer giant’s biggest shareholder. Gates, who has retired in 2000 as CEO and remained as chairman from the day of his retirement until 2008, is passing the torch to his successor as being the largest shareholder of the company.

Passing on the Torch

Gates is passing on the torch to Microsoft’s former CEO Steve Ballmer in being the largest individual shareholder of the company just a few days ago. Ballmer now has surpassed the number of shares of Microsoft’s founder with 333 million shares compared to Gates’ 330 million.

Gates is now focusing on running his and his wife’s foundation. The foundation has already fought hunger using Gates’ personal fortune and donations from wealthy individuals amounting to more than $28 billion since its inception 13 years ago.

The news was not new to most consumers since Gates has been known to not give too much consideration in being the wealthiest man in the world or being the largest individual shareholder of the top tech company in the globe. The former Microsoft CEO was even quoted saying he hated the attention given to him due to his extreme wealth.

Gates has been known to put his efforts and personal fortune in helping the company provide valuable products and fighting poverty through his foundation, the Bill and Melinda Gates Foundation, which he and his wife founded in 1997.

  • Steve Ballmer

Ballmer has been one of the first employees of Microsoft, who has been the CEO of the company from 2000 to 2014. His performance was highly appreciated not only by Microsoft itself but also by the consumers who think that Ballmer’s strategies made Microsoft survive in the rough tech industry.

Succeeded by Satya Nadella, Ballmer retired and is focusing on the development of Microsoft’s products. He stated that the company should have put together its software and hardware soon enough to compete in the market. Thus, the former CEO is now dedicating much of his time helping develop the products that could topple Apple and Google over.

Steve Ballmer is not only the new largest individual shareholder of Microsoft but is also the richest person in the world. After retiring on February 2014 as chief executive officer of Microsoft, Ballmer, who started out as Microsoft employee No. 30 in 1980, became the company’s technology adviser. Aiming to focus on the company’s product development, Ballmer is devoting more of his time helping the company develop its products, which is aiming to put their software and hardware together to compete with other tech giants like Google and Apple.

The current CEO of Microsoft is also aiming to reignite the growth of the company by placing former political operative Mark Penn as the new chief strategy officer. Penn, along with Ballmer, is planning on launching new strategies that can make Microsoft solidify its hold as a top tech company, competing with their rivals, Google, Samsung and Apple, which have been roaring to be the top of the tech business jungle.