The support for Bitcoin has been anything but unwavering. Reception was cold for a number of months, before a mainstream explosion sparked it into the most notorious and fastest growing digital currency of all time. Recent months have been quiet on the Bitcoin front, which makes Vera John’s announcement so peculiarThe famous casino giant Vera John will be accepting Bitcoin as an option for gambling. This is the first licensed and regulated casino to accept Bitcoin as a viable option. It is catching huge waves, and Bitcoin is pressed to face a pretty wild resurgence given this new breakthrough. The company has provided some news on the specifics. For example, users can use the slots and win 5,000 Bitcoin in a single victory. The rate per Bitcoin fluctuates, but a single one was worth $1,200 at its peak. The road to this current success was anything but easy. The currency was lauded as a scam, and many countries outright forbid its use in major banking institutions. The hacks and security issues became secondary to the more important problems of legality and use.
At this point, Bitcoin is boasting a total valuation of about 12 billion US dollars. Further, there are an estimated 12,3 million Bitcoins in the system. Bitcoin will cap out in a number of years at a specified amount, meaning they will not be ‘created’ indefinitely. For now, it is a reserved entity seeing small scattered successes despite a slow global acceptance. Perhaps Vera John’s acceptance will mark a major change for the infamous currency.