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World's First Major Bitcoin Acquisition: SatoshiDice Sold for 126,315 BTC ($11.5M)

Jul 19 2013, 9:53am CDT | by , in News | Misc

Sale of cyberspace casino, SatoshiDice is the world’s first major Bitcoin acquisition. Sold for 126,315 Bitcoins, the online gambler’s den was taken over entirely on the basis of crypto-currency.

World's First Major Bitcoin Acquisition: SatoshiDice Sold for 126,315 BTC ($11.5M)
 
 

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World's First Major Bitcoin Acquisition: SatoshiDice Sold for 126,315 BTC ($11.5M)

We all know about Bitcoin. It is a currency that exists solely online. Yet despite the dubiety of its validity, it seems to have become the world’s first virtual monetary system that has reached heights of glory and fame. Recently, an acquisition of the cyberspace casino, SatoshiDice for 126,315 Bitcoins has shaken the global audience by its reality value.

The fact that it all lies in a make-belief aura that exists only on the Internet makes no difference to the players who are there for some high stakes. Besides being the first merger of a company that is powered by Bitcoin, the deal is the most humongous in the history of Bitcoin as reported by TNW. The 126,315 Bitcoins amount to almost $11.5 million.

While SatoshiDice is not a very renowned site, its Lucky Dice Game is so easy to play that it attracts many soldiers of fortune looking for some quick cash. After players place their betting money on the line, they get to pick a number. A dice is rolled by the site and those who have a number below the resulting number on the dice get to win.

The concept is so simple that a child can get adept at it. But it is very addictive. Therein is the attraction of the game for newcomers. The gambler’s fallacy prods them on as they place bet upon bet. Many lose more than they rake in, but the speed of delivery makes for an adrenaline rush that there is simply no getting over.

Gambling has never been so thrilling. And with this acquisition, the site which claims to be the most popular in the world is bound to be upgraded so that the clientele keeps coming back for more.

Image Credit: Getty Images

 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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