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  1. #1
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    Question What do you think on the future of Cryptocurrency Gambling?

    Recently, since the invention of Bitcoin, we have all been observing an increasing trend in crypto gambling.

    There are main advantages of payment speed, anonymity and fairness.

    I am strongly expecting a full coverage of cryptocurrencies on all of the casinos.

    What do you think about that? Let's discuss here.

    Thanks a lot for your priceless thoughts in advance.

    Cheers!

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    I am sure cryptocurrency questions will be used as a cover up to spam the forums even in the future.
    The most sad thing is when cat dies.

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    Cryptocurrency has already become very popular and strong. I believe it will have a big and bright future ahead of it.More casinos have started using them recently as a means of making payments to their affiliates and customers alike. This is also now the case because of the many restrictions that have been put in place against web wallets and online gambling in different countries and jurisdictions. It's also a much easier way to receive your payments anonymously and without any hassles being involved.
    Last edited by Cash Bonus; 15 November 2018 at 12:34 pm.

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    Thanks a lot for your comments dear vtyunby65. I completely agree with you.

    And I strongly think that most of the people still not completely aware of the increasing trend yet.

    They still think that this is a trend and it may disappear in the future.

    But sooner or later it will become the future of online gambling due to Blockchain technology.

    Cheers!

    Quote Originally Posted by vtyunby65 View Post
    Cryptocurrency has already become very popular and strong. I believe it will have a big and bright future ahead of it.More casinos have started using them recently as a means of making payments to their affiliates and customers alike. This is also now the case because of the many restrictions that have been put in place against web wallets and online gambling in different countries and jurisdictions. It's also a much easier way to receive your payments anonymously and without any hassles being involved.

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    Sorry but I could not understand what you exactly meant.

    Please kindly be more specific.

    Thanks!

    Quote Originally Posted by Sherlock View Post
    I am sure cryptocurrency questions will be used as a cover up to spam the forums even in the future.

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    More and more operators integrated bitcoin as payment method. Due to highly regulated markets in European countries and not only is a very easy solution without any footprints for money and taxes. Definitely unpredictable raise of bitcoin gambling

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    Quote Originally Posted by thesamurai View Post
    More and more operators integrated bitcoin as payment method. Due to highly regulated markets in European countries and not only is a very easy solution without any footprints for money and taxes. Definitely unpredictable raise of bitcoin gambling
    I completely agree with you. As crytocurrencies are future of global banking due to blockchain technology, it will not be a problem for casino operators to adopt it.

    Thanks


    Sent from my iPhone using Tapatalk Pro

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    Quote Originally Posted by cryptocasinoscc View Post
    As crytocurrencies are future of global banking due to blockchain technology, it will not be a problem for casino operators to adopt it.
    I cannot see how you could be any more incorrect.
    Are you repeating phrases you've read somewhere on a forum without thinking?


    Why do you think that banks (private institutions with private records) need blockchain technology?
    Blockchain is little more than a very slow, very poor performing ledger. It has little use to banks, bankers or global banking.


    The very concept of blockchain tokens is to remove the middleman (banks) from the system by creating public blockchains and peer-to-peer transactions. This means no regulator, no middelman, no banks, minimal fees, and freedom of money movement.


    This clear and obvious fact is shown in the opposition of private banks, central banks, and regulators to the public blockchain tokens.


    Accordingly blockchain is not the future of global "banking" - it's the complete opposite.

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    Hi TheGooner,

    Thanks for your response. Noi I did not copy and comment from any other forums. In fact, nowadays, people tend to agree on the same fact which is "decentralisation".

    So you do not have to copy it from anywhere, it became common-sense.

    Let me kindly clarify my point to you by saying "Crypto is the future of banks".

    Investment funds of the banks have been investing in these crypto money projects for so long.

    So, I am asking you this question "Why do they invest in something which will finish them?"

    The critical point is that, with the aid of blockchain technology, there should always be a labour force but much less. So they will make a huge cost reduction. All of the banks will convert to blockchain-powered finance companies with having one or more cryptocurrencies.

    They will also save a lot from zero tax costs. Maybe there will be an updated tax system which may charge lower taxes and integrated into blockchain system.

    Please accept my apologies but I strongly see blockchain technology as the future of everything. We will see it all together.

    Cheers!

    Quote Originally Posted by TheGooner View Post
    I cannot see how you could be any more incorrect.
    Are you repeating phrases you've read somewhere on a forum without thinking?


    Why do you think that banks (private institutions with private records) need blockchain technology?
    Blockchain is little more than a very slow, very poor performing ledger. It has little use to banks, bankers or global banking.


    The very concept of blockchain tokens is to remove the middleman (banks) from the system by creating public blockchains and peer-to-peer transactions. This means no regulator, no middelman, no banks, minimal fees, and freedom of money movement.


    This clear and obvious fact is shown in the opposition of private banks, central banks, and regulators to the public blockchain tokens.


    Accordingly blockchain is not the future of global "banking" - it's the complete opposite.

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    How do affiliate programs calculate a commission for crypto deposits?

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    Cryptocurrency reminds the boom of dotcoms, everyone spoke about it, but then everyone forgot. Same here, on a daily basis not a lot of people use Bitcoin etc for payments, only if you want to stay anonymous, other than that you can lose money with cryptocurrency.

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    The main issue with cryptocurrency is it's reputation with the general public, most people won't go near it especially after the whole 'ponzi' bitcoin scams of late. It won't become fully mainstream until it cleans up it act and is more effectively controlled.

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    Quote Originally Posted by Cardy007 View Post
    How do affiliate programs calculate a commission for crypto deposits?
    50% deposit on an NGR of 1 BTC means you've earned 0,5 BTC.

    If you choose to get paid in EUR, they'll change it into euro (minus some fee/commission/etc)

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    Quote Originally Posted by luckyga View Post
    The main issue with cryptocurrency is it's reputation with the general public, most people won't go near it especially after the whole 'ponzi' bitcoin scams of late. It won't become fully mainstream until it cleans up it act and is more effectively controlled.
    No, crypto exists only because it is out of control. People who can not distinguish between scams and legit things will be simply poor. Poorer than now. Poor people do not decide the fate of currencies or economic projects.

    Talking about full mainstream adoption makes no sense, as it does not make sense to talk about forest industry on Mars. That is probably far away and impossible to predict. Only planetwide economic collapse can cause mainstream adoption. It will happen, but hard to say when. Otherwise crypto will be adopted only in areas where fiat is pushed away by regulations (like gambling). That implies just a moderate average (but also erratic) growth.
    The most sad thing is when cat dies.

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    Quote Originally Posted by Sherlock View Post
    No, crypto exists only because it is out of control. People who can not distinguish between scams and legit things will be simply poor. Poorer than now. Poor people do not decide the fate of currencies or economic projects.

    Talking about full mainstream adoption makes no sense, as it does not make sense to talk about forest industry on Mars. That is probably far away and impossible to predict. Only planetwide economic collapse can cause mainstream adoption. It will happen, but hard to say when. Otherwise crypto will be adopted only in areas where fiat is pushed away by regulations (like gambling). That implies just a moderate average (but also erratic) growth.
    The most effective interest point is the decentralisation concept. You named it "out of control", industry names it as "decentralisation". And I support it not only in gambling but also other areas like finance and industrial production.

    Because people may scam but machines don't! People have emotions and may act according to that but machines do not have emotional acts. (if coders do not teach them to do so).

    Blockchain technology is the backbone of the cryptocurrency operations and it will be improved more with the aid of "machine learning" concept to grab the attention of the others. We will see the adoption in a few years.

    So I strongly think that casinos and affiliate programs which will be late to adapt themselves in blockchain technologies and its fruits like provably-fair gaming etc will be out of the game sooner or later.
    Last edited by cryptocasinoscc; 19 November 2018 at 1:40 pm.

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    Well, first sorry for my initial post towards you. It looked spammy, it seems you are not a 100% spammer after all

    About provably-fair games, it is just a buzzword. Why people who re going to lose need something that is provably fair? My experience with mind of gamblers is they need always an excuse for their habits. E.g. the endless chats how some online games are rigged are in fact the thing that keeps gamblers play and lose even more. Gamblers are weak people who look for excuses. We need provably-fair business, but not provably fair gambling I believe.

    I absolutely hate bitcoin doomsayers, but let's be honest. There are much more scams in crypto per transaction than in fiat from all angles. The code is law feature means that the reality is hard. In opposition the fiat and centralized reality is soft and much more idiot-friendly. And nowadays we are all idiots.

    So the crypto concept is best as protection against expansional state monetary policy. For day-to-day transactions some layers over the top of crypto will have to be made and even after it is done, that system will be still far less idiot-friendly than recent system with credit cards. In other words, the advantage of bitcoin is really NOT for average individual that your balance is just a password. The advantage of bitcoin is that it can not be melted along with something from thin air. There will be always some human factor in crypto and it will be much more critical than by the soft cash.

    The thing is that for now unless you live in Venezuela or Argentina or so, you do not see yet how crazy the monetary policy can be. How people store their wealth in properties that have so high value that they can never pay off, or how cars rise in price as they are worn out. Let's see how Brexit plays out.
    The most sad thing is when cat dies.

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    Quote Originally Posted by cryptocasinoscc View Post
    Blockchain technology is the backbone of the cryptocurrency operations
    This feels like a slogan - a saying without meaning.

    The blockchain is a ledger, a simple list of transactions, transferring tokens address to address with associated recorded data. It's slow, it's complicated and very expensive on computer resources with hashing and encryption keys.

    As it stands the blockchain has one functioning use-case. The blockchain enables peer-to-peer transactions and a "trustless environment" because you don't have to know (or trust) the other person in the transaction as the process is immutable (within certain limits.)

    But that's it. It's not a "technology". It's a rather limited application of cryptographic skills.

    Quote Originally Posted by cryptocasinoscc View Post
    The most effective interest point is the decentralisation concept.
    You say this a lot - but the ONLY token with a valid use case beyond peer-to-peer transactions is XRP which allows institutional transactions (hardly a great leap from peer to peer)- and which is completely centralised.

    ----------------

    I'd like to see the all areas of computing succeed and blockchain especially as I have been working in technology and transactional applications for most of my adult life.

    However after the initial flush of growth in early 2017 when blockchain conferences and startups abounded we've seen a complete lack of industrial or commercial applications take place. There are over 3000 public token projects - 99% of them worthless.

    If blockchain is to succeed it needs to
    - a/ reduce computational overheads and requirements.
    - b/ increase speed to handle real world transactional levels
    - c/ find multiple use cases beyond peer-to-peer transactions

    The unfortunate conclusion I am coming to is that if blockchain is to succeed it will be in centralised private applications - perhaps in software or digital rights checking, or supply chain logistics etc.

    Most worryingly of all it seems that public decentralised tokens are NOT evolving, they are not becoming feature rich, and like most applications that fail to adapt they COULD soon to become valueless.

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  33. #18
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    Quote Originally Posted by Sherlock View Post
    Well, first sorry for my initial post towards you. It looked spammy, it seems you are not a 100% spammer after all

    About provably-fair games, it is just a buzzword. Why people who re going to lose need something that is provably fair? My experience with mind of gamblers is they need always an excuse for their habits. E.g. the endless chats how some online games are rigged are in fact the thing that keeps gamblers play and lose even more. Gamblers are weak people who look for excuses. We need provably-fair business, but not provably fair gambling I believe.

    I absolutely hate bitcoin doomsayers, but let's be honest. There are much more scams in crypto per transaction than in fiat from all angles. The code is law feature means that the reality is hard. In opposition the fiat and centralized reality is soft and much more idiot-friendly. And nowadays we are all idiots.

    So the crypto concept is best as protection against expansional state monetary policy. For day-to-day transactions some layers over the top of crypto will have to be made and even after it is done, that system will be still far less idiot-friendly than recent system with credit cards. In other words, the advantage of bitcoin is really NOT for average individual that your balance is just a password. The advantage of bitcoin is that it can not be melted along with something from thin air. There will be always some human factor in crypto and it will be much more critical than by the soft cash.

    The thing is that for now unless you live in Venezuela or Argentina or so, you do not see yet how crazy the monetary policy can be. How people store their wealth in properties that have so high value that they can never pay off, or how cars rise in price as they are worn out. Let's see how Brexit plays out.
    No need to be sorry as nowadays there are many spammers and sorry for not understanding your criticising approach. I thought you were spamming in the room. That was my foolishness for sure! Sorry for that.

    When it comes to your points, I agree with your thoughts, especially this one: "We need provably-fair business, but not provably fair gambling".

    "Anonymity" in payments is an effective weapon for bypassing the country restrictions. This is a real PLUS for crypto gambling. But on the other side, there should always be a human touch for Bitcoin operations as you have mentioned!

    What I strongly think is that some behind-the-scenes people are planning much bigger things for the people all over the globe. And cryptocurrencies is their playground for these experiments. Let's watch the outcomes of these developments together.

    Last but not least, if blockchain developers make the whole process more idiot-friendly as you have also mentioned, it may increase its popularity in gambling and daily life for sure.

    Thanks a lot for your priceless contribution.

    Cheers!

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    Quote Originally Posted by TheGooner View Post
    This feels like a slogan - a saying without meaning.

    The blockchain is a ledger, a simple list of transactions, transferring tokens address to address with associated recorded data. It's slow, it's complicated and very expensive on computer resources with hashing and encryption keys.

    As it stands the blockchain has one functioning use-case. The blockchain enables peer-to-peer transactions and a "trustless environment" because you don't have to know (or trust) the other person in the transaction as the process is immutable (within certain limits.)

    But that's it. It's not a "technology". It's a rather limited application of cryptographic skills.


    You say this a lot - but the ONLY token with a valid use case beyond peer-to-peer transactions is XRP which allows institutional transactions (hardly a great leap from peer to peer)- and which is completely centralised.

    ----------------

    I'd like to see the all areas of computing succeed and blockchain especially as I have been working in technology and transactional applications for most of my adult life.

    However after the initial flush of growth in early 2017 when blockchain conferences and startups abounded we've seen a complete lack of industrial or commercial applications take place. There are over 3000 public token projects - 99% of them worthless.

    If blockchain is to succeed it needs to
    - a/ reduce computational overheads and requirements.
    - b/ increase speed to handle real world transactional levels
    - c/ find multiple use cases beyond peer-to-peer transactions

    The unfortunate conclusion I am coming to is that if blockchain is to succeed it will be in centralised private applications - perhaps in software or digital rights checking, or supply chain logistics etc.

    Most worryingly of all it seems that public decentralised tokens are NOT evolving, they are not becoming feature rich, and like most applications that fail to adapt they COULD soon to become valueless.
    I appreciate your great contribution with technical points.

    I show respect to your thoughts on blockchain "mechanism" or "tool" NOT "technology" as you adviced

    What I can add to your a-b-c points are that:

    - d/ integration of machine learning & artificial intelligence
    - e/ more user-friendly operations for dummies

    Thanks & Cheers

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    Quote Originally Posted by cryptocasinoscc View Post
    - e/ more user-friendly operations for dummies
    I agree - but I can't see this happening anytime soon.

    Perhaps it will when we get more cards that transition between fiat currencies and crypto-currencies (eg. TenX is still trying).

    However, the very nature of the projects with their disparate worker base, no real strategic thinking, and unconscious "elite" manner (have means that there will be a technological barrier to entry into using crypto for the foreseeable future.
    - You need to protect your keys,
    - You need to understand send / receive addresses,
    - You need to practice safe computing.

    Given that most people under 30 only have access to computing and the internet via their mobile phone, there is still a huge disconnect between crypto wallet requirements and the real world that their potential user base lives in.

    I'd never store much of my crypto on my phone - would you?
    And without an institution backing the app, it's not the same as a bank account, credit card.

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