Bitcoin Forum

Can gambling use case help a project to have good value in future? I was following a project called blockstamp and after they introduce their online casino platform in 2019 the coin surge over 1$ from 0.12$ I think, is gambling another way to make a coin demanding? Do you gamble online? E g casinos?

Crypto has been linked to a easy way of gambling. Bitcoin itself is one of the largest gambling coin and there are tokens that are made specifically for gambling. And gambling currencies has a relative success than most other tokens. Blockstamp for example is a gambling focused coin and if they are to receive success, it would be through gambling but it doesn't mean every coin should turn itself as a gambling coin as they are made for different intentions. And not every gambling coin receives similar success.

I do not think bitcoin is a gambling coin . It depends from what point of view you look at the current situation . If you do not understand the backend technology then you can say it is a gambling coin . But from my point of view it is not a gambling coin.

How it can't be?

Check the Gambling (https://bitcointalk.org/index.php?board=56.0) and count how many casinos there are actively engaging with day to day gamblers.

Nalbo said the truth.

Even before the icos came, there were a lot of casinos already in existence. A casino that has a token is a good use case, an investor has to understand the business model of casinos but if he's not aware of it better not invest.

There are many gambling tokens in the market and the competition is tough. Bitcoin is the favorite for whales while blockchain based gambling is led by EOS and Tron at the moment. Gamblers are not excited about new coins and newer tokens have no relative success in gambling industry. One of the reason for them to lag behind is also their non impressive platform as they can't compete against attractive centralized casinos.

What the guy was trying to make people understand is Bitcoin is a well known coin in online gambling websites, any coin can be used in any online gambling websites if the website supports them and yes this will bring in more demand for the coin or token

Of course it can, use cases of different coins or tokens favor their necessary needs. Maybe the demand of their coin attributed mainly on their platform or giving a huge benefit when using it. Technically online casino uses major crypto to play and Im thinking the blockstamp token have some usage that fairly or more usable than major coins on their ecosystem.

Aside from smart contract this is one use cases of crypto to be used on online gambling casino and so many platform offering it and still counting.

For now it cannot be expected anymore. unless indeed the new gambling site has a good strategy, in order to attract new users. Because, now many gambling sites. there are many users and there are also gambling sites that die, because they cannot survive.

It's all about adoption and what it will differentiate from the other casinos I don't know about that blockstamp coin, but if the price was pump because of the casinos they launch, we can safely say that the casino they launched was adopted but, you did not name that casino so for us to see if it is worth to play on that casino.

The whole life of the game. People from ancient times played on the last piece of bread, and if the game itself, the site will be interesting, it does not matter what to play, at least for buttons or candy wrappers.

One of the large demand on bitcoin comes from gambling. I have talked with many gamblers over different gambling platforms and a large group of them know nothing about crypto and are there just to gamble with bitcoin. The often get bitcoins through cashapp or coinbase which causes troubles as those exchange have terms against depositing to and from gambling sites. The anonymous nature of crypto has made them a great gambling coin.

Gambling works, this is a very good use case and I'm sure 99% of all gambling platforms accept Bitcoin and yes many make it through online gambling, if you see any altcoin thats very serious about it then it's a good one, do invest only what you can afford to lose

Not a bad feature to implement for a new coin, though this shouldn't be the only thing that the coin can be used for, real use case is very important, and yes gambling can make a coin more demanding, even build good volume too

^ Bitcoin and other cryptocurrencies can be used in any gambling platform in fact that bitcoin is one of those who are being accepted mostly in casinos. The mere fact that that we can use these coins in gambling therefore it can also be used for other purposes which I think all of us are expecting to happen in the future and that block stamp is trying to prove. Nevertheless, in the future when global adoption of bitcoin and other cryptocurrencies happen then the demand on these coins will be higher more than what we are expecting.

Gambling in crypto space is not a new use case, this have been around for many years now and right now the competition is way too much, I can't advice a new project team to rely on this use case, it's just a plus, not entirely something big

if they have a many good gambling game that can use their coins and have many players play it then its possible. if they don't have that it will looks like the price  of the coins is manipulated by them to earn them free money in long run that can use to expand the game they have right now.

It's possible I have seen a lot of Dapps on Eos and mostly gambling sites and so are on Tron, gambling sites are very popular in Crypto holders and gamblers throw their support on gambling sites with their own token and Crypto investors throw their support on coins with online gambling sites.

It can't. It will be including on the usefulness of the platform but it will not help the project to have good value. There are so many gambling platforms have already gone since the ico year. vdice, betking and many more have already gone with its crap coin.

People needs utility for the token.

I am not a fan of gambling in any way, both online and offline. But I must admit that Gambling is the most potential, popular and profitable application in the reality of cryptocurrencies. The advantages of cryptocurrencies are most applicable to gambling.

Not in all the cases. People still prefer to gamble with bitcoins compared to any other coin nor dedicated coin. I guess some devs might have miscalculated about gamblers like low value coins will get more popular among gamblers when gambling specific/dedicated coins accompany few additional features but gamblers prefer high value bitcoin as their prime moto is like: high risk, high reward. So, gambling alone will not ensure the success of a coin.

But at the same time, gambling must be one of the reason for a coin to be pumped time to time. For example, waves did not have any dedicated houses which reflected on its price levels in my observation because it must be one of the potential coin like ethereum still undervalued due not lack of innovation in building various real time applications.

I think there is definitely a link between users from gambling and betting sites with users from bitcoin and cryptocurrencies. It's always easier to convince a bettor to take his reward in bitcoin or crypto payment instead of fiat to paypal or bank. The general idea of investing in cryptocurrencies already has some risk. The riskier, the better profit so it's the same as gambling and easy to fly with bettors. Of course, the traditional casino with their chips already function some sort of similar. They dislike anyone eating their cake but if gambling and betting sites find a way to cooperate with those guys, gambling or betting cryptocurrencies would switch and incorporate crypto to daily life very soon.

There is this feeling of gambling getting bigger in the bitcoin world the more I see huge amounts of bitcoin being used. However at the same time I am considering the fact that those amounts of bitcoin was always gambled but it didn't worth that much back then, so that could mean it is the same people gambling the same way but we are putting too much into it.

If there are people who are buying thousands of dollars (even hundreds of thousands of dollars) worth of bitcoins and gambling that means there is a good use case for bitcoin in the gambling world and I honestly support it. However, if it means just the old early birds who are involved and still gambling because they basically got it for free and already cashed out millions of dollars but kept a bit of it to gamble, that doesn't really mean anything.

It can be a triggering factor which could help in gaining more attention but that does not mean that the price would increase considerably high just because a gambling platform started accepting it, dogecoin and other similar low valuation coins are accepted in majority of the sites in the past couple of years but we are yet to see a rally if that is the case.

I think that on the contrary, gaming platforms use the HYIP that has arisen around cryptocurrency in order to promote their platforms. Cryptocurrency has recently attracted a lot of attention and gaming sites offer calculations in cryptocurrency, making it more convenient for owners of cryptocurrency.

The beauty of the crypto space is that there are many projects which have found wide uses in different spheres of industries out there. So crypto being used in gambling is just one of many ways through which crypto has been leveraged on to bring a change in the world. Therefore what I think is, if a crypto project is worth it and have the right team who are ready to work then their use case will really drive value to the platform; in the case of this particular project the team believed there can be a change in the gambling industry reason why it grew massively. So yes, gambling can make a particular coin (the project's coin) to be in demand but depends on the project though.

But you will also quickly lose money with gambling. This is a quick way to check profits, but also a quick way to make you lose and become poor. I am also not a fan of it, stay away to be safe

Actually yes! There is a reason why most crypto projects are currently exploring the options of running gambling, gaming as well as loto or lottery systems in their ideas and plans. Gambling is one of the largest industries and markets in the world. While some countries frown at it, others embrace it due to the money that flows in there. There are millions of gamblers across the world and that is why crypto is targeting this market. Imagine the demand that will come with any properly built crypto project targeting gamblers and gambling, it certainly is huge and thus bringing lots of value appreciation.

in 2019 a lot of good project not only gambling project down,
but, i think gambling project is a good project if the development from the project continues, not only gambling but all crypto project

I gamble online and I must say it might make the coin demand especially when you provide some additional features that can be accessed through the native token of the project. This makes the coin demand rate to increased. However, you must also note that your gambling site must standout because there are many gambling sites but the distinction in your own site is what bring people to it and which will make your native coin to be of high demand also

Gambling is not a good usecase for any project but it can surge project price when the odds are favorable. The reasons behind gambling and price surge is due to its addictive nature. People generally like to gamble so any project gambling has a fair chance of making good returns.

The use case of gambling token can be used on its own gambling platform but the difficult thing is the implementation for the gambling token to be used on its platform. Sometimes people became addictive to the gambling platform but there was also a lot of gambling platforms have been going to the hell as there was no demand.

That's is true. It's not like Bitcoin or any cryptocurrency is made for gambling anyway. There are just cases where a gambling projects gets lucky enough to get a lot of traffic. Not all gambling sites gets to stay in the market though.

But if we are talking about gambling sites that is popular among the world but haven't implemented Bitcoin yet, then it would surely help with Bitcoin's adoption and price if Bitcoin where to be included in the top gambling sites of all time.

It would be appropriate to move this thread in gambling section. Anyway, is that casino gambling platform already launched? It's really a good platform if they have their own token inside the gambling site like other online casino websites has.
 
  But the thing that it pumped huge means there are investors who actually using the coin already. Though, I can't even deny that there is also possibility that the surge "maybe" caused by their own pump and dump group.

Why you said its not good? I think there is no limitation to use case for cryptocurrency even its involved some gambling. Also Im not sure if gambling is illegal cause we all knew that most countries have casino and online gambling so incorporating cryptocurrency into it would be a good shape for blockchain. Also primarily of the projects with high sigcamp paid are all gambling sites that accept cryptocurrency so I think this is not a bad idea at all for boosting cryptocurrency market.

Just like other use cases, gambling in the blockchain space is also a good use case and if developed properly will make the platform worthwhile to engage with. The only issue with gambling just like other use cases is that, most platforms fails to build one which will be attractive to gamblers so when that unique feature is not there, most people or rather gamblers tend to go back to other gambling platforms. I don't know much about this project in particular but if the team will put in their best, then they will succeed in keeping a good competitive advantage.

It's an addition but not suppose to if your project ain't about gambling.
There are other ways to make a hype if you really want it to happen.

You could advertise it where there are a lot of people.
One example is the one you are talking about. Gambling.
They could manage to put your advertisement somewhere on their website.

I just thinking that crypto currency will make gambling place become powerful and can attract many people there to play gambling online.

As we may know, the current situation is a phase where the gambler conventional/traditional move to online gambling. And I can say gambling online is more comfortable then conventional gambling.

So, there will be many chance for new developer who will make a project based on gambling. Although many gambler now are prefer to choose bitcoin as their tool to play but they will choose altcoin as well if there is something new offered by some developers.

It reminds me of articles about "dirty" money being laundred with crypto is a bad thing.
Crypto is just another way to store/make/move money around the world.
Yes people do play, gamble and etc etc so they will use any valuable currency to do it.
Yes people do steal, hack and etc so there will be crimes with crypto involved (as well as fiat).

NO, because its not a new idea and already lot of projects were existing with the same use case so if someone creates a new tokens for gambling sites then it will probably have zero value.And there is no need for specific coin to use in gambling since most of the crypto currencies were used for gambling activities.

Gambling is not entirely a good use case for coins to have a demand, but for bitcoin, it is a very good demand.

It is important to have your gambling webpage in bitcoin to promote ease, fluently accessible and swift

Yes. Gambling has been here already hundred years from now and it has proven to be more effective in promoting something. With the latest online casino nowadays, i think it will be a good start for a new coin to be recognize by the people and mostly investors once it will be used in gambling. There are a lot of gamblers  worldwide so definitely this is a good revenue for new promotions to take place.

I totally agree with you, right now there are a lot of people using blockchain gambling because it is very simple and confidential their information. Certainly online gambling will thrive in the coming months and hopefully more altcoins will be chosen to gamble instead of bitcoin.

We have to look at how many people actually deposit fiat to exchanges and get bitcoin and send it directly to casinos in order to figure out how many people actually get into bitcoin before they do anything else so most probably got into crypto just because of gambling. Of course we do not have a data to see them but we actually could get that data if we really wanted to.

All we have to do is all exchanges working together with all gambling casinos and seeing the data of addresses each one has that sent money to each other and that way we could see how many people actually use it just for gambling. We do not even need to do it for all, we could do like biggest 20 exchanges and biggest 20 casinos and it would show us a picture. Highly doubt exchanges and casinos would work together like that on it but that is a method anyway.

Probably so. There are project that purposely create a casino just to make their coin have some usage. Doge use to be just a coin until its accepted to some  dice sites and gradually the number of casinos accepting it tanked. And because its fast we tend to use it more, now the trading volume is enormous already that is too huge to fail. Surging up to $1 from 12 cents is one proof that casinos help.