-By Milly Bitcoin – Feb 19, 2013.
This is the “genesis” post for CoinText.com, information for the Bitcoin age from Atlantic City Bitcoin. For those not familiar with Bitcoin the “genesis” reference is a reference to the Bitcoin system. Transactions are recorded in “blocks” built about every 10 minutes and the first one is called the “genesis block” that started the whole Bitcoin system on January 3, 2009. Right now there are 221,944 blocks but by the time you read this there will be more.
Atlantic City Bitcoin was formed last Thursday on the same day Reddit announced they would accept Bitcoin. The next day Kim Dotcom announced their new Mega upload service would accept Bitcoin. Services to sell Pizza for Bitcoin also launched during the week as well as another verifiable lottery. Unlike the state lotteries, the Bitcoin lotteries normally use cryptography to prove their games are fair (how these work will be the subject of future article). Things such as the scandal of the 1980 Pennsylvania lottery can be avoided using these systems.