Bitcoin Timelocks: A Handy BTC Management Tool

Bitcoin Management

Technology stands still for no one. The world is evolving at a tremendous rate, increasing the expectations of consumers as each advancement makes life more convenient and comfortable for those who use it. Our human impatience is fuelled by the instant gratification model that modern technology has taught us is the norm.  

As such, the tech world has now formed a benchmark against which all modern concepts will be measured and judged. If technology does not assist us in maintaining our busy lives more efficiently in some way, it will not last long. 

Bitcoin has been on the scene for over a decade now, showing the world just how efficient and convenient Blockchain technology is. Payments can be sent around the world in record time, with little cost, and no interference from trusted third parties; streamlining the transactions. But there are still more efficient tools in the system that few people are actually aware of. On such a tool is the Bitcoin Timelock feature. 

TIMELOCK EXPLAINED 

Although this feature of the Blockchain has existed since the development of Bitcoin by Satoshi Nakamoto, the average man in the street is either oblivious of the fact that such a tool exists or is scared to use it. We do assure you, however, that it does work. 

The Bitcoin Timelock is a feature which enables users to create suspended transactions. These are transactions that are set up and, in your account, now but only released to the payee after some time has passed. It provides an excellent option for people to pre-plan future spends on their current BTC Budget. 

HOW DOES THIS HELP THE WORLD 

Timelock Technology provides the base structure for Bitcoin smart contracts and other projects to be built on.  

Effectively negotiating deals in BTC is far easier when you are able to control your spending as a business. In fact, second-tier technologies like The Lightning Network rely heavily on paying onto the Blockchain at set future times.  

This tool just goes to show that Bitcoin is the business that just keeps on giving. Understanding the intricacies of the tech just makes it ever clearer just how Blockchain technology is paving the path for the future. 

HOW DOES THIS HELP MY GAMBLING ACTIVITIES 

There is now a smart way to budget your entertainment expenses made with Bitcoin. Because transactions can be designated for future dates, you will be able to set out your months’ worth of gambling deposits at the beginning of the month, for release later on. This may help prevent you from playing on a whim and keep your gambling activities controlled. Simply set out 4 different payments to pay out on a weekly bases and use only those delegated funds at the casino. 

While it won’t work paying directly to our site in this fashion, because of the deposit procedures in releasing funds to our site in real time, we implore you to open up a separate crypto wallet specifically for ‘Entertainment’. Allow your main wallet to fund this one by using the Timelock feature. Every time you want to get your Vegas Casino fix on, simply access your available funds (that are topped up automatically every week) and make your deposit. 

VEGASCASINO ROUND UP 

It sure is exciting to see how the world of Bitcoin is producing the ideal transactional environment for all forms of business and buying. We are proud to be a Bitcoin First Casino and encourage you to experience crypto gambling for all its worth if you haven’t yet tried it.  

If you do not own Bitcoin, we can help you buy your first coinage from our site, so that you can join the venture that is heading for the stars.