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Title: 2012-09-03 CalvinAyre.com - Can Bitcoin-Only Online Casinos Like bitZino Succeed Post by: Stephen Gornick on September 03, 2012, 06:47:39 PM 2012-09-03 CalvinAyre.com - Can Bitcoin-Only Online Casinos Like bitZino Succeed?
Quote There’s no doubt that going forward, virtual currencies such as bitcoin will play an increasingly larger role in both the online gambling world and in the overall online economy, but for the moment, it’s still not quite ready for prime time. - http://calvinayre.com/2012/09/03/business/bitzino-touts-provably-fair-games-but-can-bitcoin-only-casinos-succeed/ Title: Re: 2012-09-03 CalvinAyre.com - Can Bitcoin-Only Online Casinos Like bitZino Succeed Post by: Stephen Gornick on September 03, 2012, 07:09:54 PM Quote There’s no doubt that going forward, virtual currencies such as bitcoin will play an increasingly larger role in both the online gambling world and in the overall online economy, but for the moment, it’s still not quite ready for prime time. Completely overlooked is the point that Jon Matonis clearly pointed out. The dynamic duo of pseudonymus digital currency + provably fair gaming = a dramatically lowered barrier to opening and operating an online gaming service. Before, only the well funded ventures could survive long enough to get through setting up in a proper jurisdiction where that type of service is allowed, working with payment processors, working with online gaming regulatory organizations, possibly going through an audit, etc. Once the Farmville and html5 game developers realize that there's not much stopping them from offering online wagering, the next online gaming success story could come from the unlikeliest of sources. |