GPWA Times Magazine: ‘Bullish’ on bitcoin

[GPWA Abby]

Since its 2009 inception, bitcoin has been pronounced "dead" hundreds of times. But iGaming has been quick to pick up the often-volatile cryptocurrency, calling it a viable alternative to the usual payment methods. Do you use bitcoin? How much longer do you think it will last? Clare Fitzgerald takes an in-depth look at bitcoin's worldwide popularity in various online gambling spheres.



Check out this article in the October 2016 issue of the GPWA Times Magazine.

[Sherlock]

I read the article before already. It is decent. Someone spent good amount about it. Good job with btc evangelisation.

There are some small details that are a bit confusing to promote for people who have no clue, like "never have 10 btc at the exchange". (It is relatively ok to have any amount of bitcoins at the decent exchange, but it is important to minimize the time to have the money there. It does not make sense to divide 50 btc into 5 payments, 5 exchanges and 5 payouts for example. It is not optimal risk/reward ratio of time spent.)

Also - while I really like as you encourage people to put bitcoins aside - it does not make sense to recommend some 20% rule. Those rules of thumb have probably sense for uneducated people, but I think affiliates have their own brains and they can manage their investments according to their overall bankroll. Putting 20% aside might be putting 20% aside from all income for someone who is fully US focused. That might be pretty steep investment and it means big amount of dedication into bitcoin. If we consider that the afiliate might also spend the remaining 80%, then having savings only in bitcoin is not a good advice for anybody.

For bitcoin investor it also makes actaully sense to look at the rate and it makes sense for affiliates receiving btc payouts to think when and how much to change back to fiat. Like now we are after a nice run, that might continue to surge (I certainly believe so), but it was better to backhold bitcoins from Aug, Sep and Oct than bitcoins after the run.

If it is about security, there should be at least mentioned a note how to choose non-scam offline wallet, because choosing a wallet is not like choosing a colour of socks.

But it is just a nitpicking.