Are Bitcoins the Future of Online Gambling?

[Top Domains]

We have to wait in order to be more safe about bitcoin. The incredible raise of its price isn't so normal. Maybe there will be a "correction" to the volume.

Bitcoin is merely an option, or at least it should be. As such you assume some risk if you choose it as a gambler, as long as the payer plays by some decent rules, such as not prolonging a payout in the hope of sending you less valuable Bitcoin, or being bound to owe you a certain amount as of a certain date no matter what happens in the market. In my case as a seller of domain names, I accept Bitcoin for domain sales but I also require a certain % above cash price to address this volatility. When I made my first such sale that overage factored in because Bitcoin dropped a bit by the time I was able to cash out. Little did I know I missed out on a small fortune after the big rise until now, however.

[Sherlock]

We have to wait in order to be more safe about bitcoin. The incredible raise of its price isn't so normal. Maybe there will be a "correction" to the volume.

The incredible raise can be absolutely normal. And the correction might come much later. Right now the big money is not in yet.

Crypto is a new kind of asset that also aspires to take over and replace big part of value of fiat, investment gold, gems & art. In that case is still at least 100-1000x undervalued.

Plus it has extremely unequal distribution (even compared to fiat), so the price can skyrocket even if the marketcap of the assets above is absorbed. Why? Because the units of any cryptocurrency are concentrated in hands of few people and those people who will be the richest people bsolutely do not need to sell. Therefore their coins are almost like pulled out of market so effective supply is even smaller than all coins mined or minted.

If this scenario occurs we might see correction much later and much milder than most people expect with common sense.

[drifter8]

Bitcoin is the future of online gambling. Very soon not only US , but main Asian bookies will prefer accepting of this cryptocurrency.

[Sherlock]

Can you tell/link more about asia and bitcoins?

[Voids]

Can you tell/link more about asia and bitcoins?

I've got no sources for this, but a lot of articles I've read about early investors and miners coming from asia and holding a lot of early bitcoin. Many are multi-millionaires and are looking for ways to spend their bitcoin without FIAT conversion.

Some are buying properties & other investments.

[drifter8]

About Asia, my information is out of date. First I clearly remembered that there was a bitcoin option in Beteast.com as I can see recently they have l very fewer payment options left. My main clue is that cryptocurrency is part of the world of people which mainly are interested in playing and betting on e-sports. We all know what huge amount of bets are taken on that new and enlarging betting section.
In a conclusion, cryptocurrency trading is a great "speculation" and mainly trading with rumors. I clearly remember the time when a bitcoin had a price of around 110 $. The skyrocket effect is also a commons sense situation in some "soft" bookies or new players in the industry.
Most of the tendencies in betting, no matter of the sport are born or started in Asia, Asian bookies or Asian markets.

[Sherlock]

I've got no sources for this, but a lot of articles I've read about early investors and miners coming from asia and holding a lot of early bitcoin. Many are multi-millionaires and are looking for ways to spend their bitcoin without FIAT conversion.

Some are buying properties & other investments.

The early bitcoin adopters will lose a lot, because they are not mentally prepared for the money, no doubt about it.

But that is one time event. Will be very profitable, but they will lose the billions, commit suicide and that is it. I am concerned about possibility that normal Asian people will play in btc instead of fiat as we see it in the USA.

Beteast is done is not it? And never was a significant player. Are Sbobet, IBC etc. planning something? Do Asian players have problems to deposit?

I have maybe false impression about Bitcoin that Asian people just gamble with it on exchanges, not through it at bookies.

[Cash Bonus]

Oh, that is such a shame! It really is... Did you see that 1 BTC (BitCoin) was just shy of hitting $8000 USD?

This was only just some hours ago before I put up this post!

You really have to be vigilant with this and keep your eyes open on it as much as possible.

[Breakout Affiliates]

Yes. Gamblers will lose less and have the potential to gain more... pretty amazing concept in regards to solving gambling issues...

[Voids]

If Bitcoin can reduce fraud and lower operating costs.

Would that mean Bitcoin Casino's and Bookmakers will always have the best odds and payout ratios?

With lower costs, a traditional bookmaker could make the same profits with a much smaller margin.

[Sherlock]

Absolutely no. There were the good old times when there were traditional bookies everywhere and Pinnacle (-105 lines). It was incredibly hard to convert Pinnacle's traffic.

Now I promote Cloudbet and Nitrogensports. Cloudbet converts better.

Average bettor does care about odds much less. You need wide parlay and live section. And bonuses (which are btw big problem with bitcoin anonymous gambling).

So I would expect more bonuses, but same lines. But some advanced player profiling.

[drifter8]

I miss Pinny days as well. Average bettor is an overrated consumer. The best odds are in dangerous bookies, such as Turkish ones, and 1xbet. Bitcoin will open a new era in betting, it will be a completely new way of everything. I am not quite sure that bitcoin usage will prevent fraud, it will be on the contrary. If I am limited in top 50 bookies I will find my way to get onto a new wave bitcoin market.
The smart way is to add the big and rich players with completely new offers, but we all perfectly know what a big disaster is with bonuses recently, not only the issue with bet365 and UKGC.
A lot of people have made good means for living exploiting thousands of different ways to win huge from any type of bonus given.
The question is what new bitcoin bookies will offer in order to be competitive and to take a strict care of the possible high level of fraud?

[allfreechips]

They had the story of the guy that paid 10,000 BTC for a papajohns pizza in the beginning, was new at the time as the currency was actually accepted. soo today thats almost a 7MILL pizza!

[Voids]

They had the story of the guy that paid 10,000 BTC for a papajohns pizza in the beginning, was new at the time as the currency was actually accepted. soo today thats almost a 7MILL pizza!

Try again.

He bought 2 Pizza's for around $40 at the time to prove he could spend bitcoin. Today they are worth:#

10,000 x $8,229 = $82,290,000

[Top Domains]

Try again.

He bought 2 Pizza's for around $40 at the time to prove he could spend bitcoin. Today they are worth:#

10,000 x $8,229 = $82,290,000

Any word on what the seller of that pizza did with them?

[Progger]

Jercos sold the 10,000 Bitcoin at around $400 in total, making a return of 10x. So who was the next lucky guy?
https://www.reddit.com/r/Bitcoin/com...uy_what_is_he/

[Sherlock]

We all lose every day opportunities to buy 100M assets in 10 years for 40 USD.

They just go unnoticed.

Last time I researched what the pizzaguy does, he was researching some crazy altcoin that was not even on exchanges.