Cryptocurrency In The Gambling Industry: All You Need To Know About Bitcoin

[xWolfx]

This pretty much a sum it all about Bitcoin in different stages of industries and life.

The biggest threat to everything is precisely the security ones, breaches tend to hurt a business substantially. Both in credibility and also the funds of customers, if the board gets too greedy it will only make their businesses vulnerable to those kind of things.

About everything else, this is precisely why Bitcoin is so awesome. It can be implemented inside different types of platforms pretty easily in comparison to how a technology like this should be.

It's really interesting and fascinating that the tech industry is about solving problems/problem solving. That mindset can help develop solutions to do the same thing worldwide.

[bitgolden]

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

Bitcoin has really help in rebuilding gamblers confidence in gambling especially those that like Anonymous online. People like to hide their identity when playing gambling and bitcoin enable that. You can be gambling with your father and sibling without know through bitcoin and other coins and i believe that is the major reason people are flow into gambling industry now.

This is the best gift of all time that bitcoin has been able to deliver to every gambler. It was the desire of every known gambler to play anonymously, no wonder w, we can hardly see people troop into offline casino centers like it used to be, I am truly happy about crypto gambling and I believe every gambler is.

It reminds me of an experience I had years back before crypto gambling, where I lost all my money and I felt ashamed of myself. Going home was a problem and staying back to replay Was even a bigger problem but I had to bear the shame to leave and I wished everyone around wasn’t there to see me. But today I play in my house, no one knows when I win or lose and its truly a great experience.

[o48o]

Looks OP took lot of efforts to write this thread. There is lot of reason why gambler like to use crypto currency as a payment of gambling website. The main reason is anonymity, easy and fast transactions. Even gambling legal on few countries but you need to pay TAX. If you use crypto currency like bitcoin then you can save TAX as well. That's the main issue about crypto-currency uses on gambling site in my opinion.

If you are not using privacy oriented coins i think that you are meaning that you can play pseudonymously rather then anonymously.
And saving taxes doesn't apply in where i live where you have to pay taxes from profits in crypto.
But as right now, our government doesn't track profits too heavily and i am rather enjoying this golden age without a kyc and getting as many bitcoins as i can before our laws get tighten on this.

[Lawrenzoo]

Very well, those are good insights you have there though it is a very long topic and I believe not all would take time to read it. Anyways, indeed gambling in cryptocurrencies is becoming more and more popular to gamblers due to multiple reasons, one is anonymity, gamblers wanted to gamble anonymously, another is it is safer and secure when you gamble cryptocurrency its because of blockchain being unhackable and most importantly transactions don’t take so much time to process.

Bitcoin has really help in rebuilding gamblers confidence in gambling especially those that like Anonymous online. People like to hide their identity when playing gambling and bitcoin enable that. You can be gambling with your father and sibling without know through bitcoin and other coins and i believe that is the major reason people are flow into gambling industry now.

This is the best gift of all time that bitcoin has been able to deliver to every gambler. It was the desire of every known gambler to play anonymously, no wonder w, we can hardly see people troop into offline casino centers like it used to be, I am truly happy about crypto gambling and I believe every gambler is.

It reminds me of an experience I had years back before crypto gambling, where I lost all my money and I felt ashamed of myself. Going home was a problem and staying back to replay Was even a bigger problem but I had to bear the shame to leave and I wished everyone around wasn’t there to see me. But today I play in my house, no one knows when I win or lose and its truly a great experience.

I am not sure if every game played is truly anonymous as we think.

[swogerino]

Looks OP took lot of efforts to write this thread. There is lot of reason why gambler like to use crypto currency as a payment of gambling website. The main reason is anonymity, easy and fast transactions. Even gambling legal on few countries but you need to pay TAX. If you use crypto currency like bitcoin then you can save TAX as well. That's the main issue about crypto-currency uses on gambling site in my opinion.

If you are not using privacy oriented coins i think that you are meaning that you can play pseudonymously rather then anonymously.
And saving taxes doesn't apply in where i live where you have to pay taxes from profits in crypto.
But as right now, our government doesn't track profits too heavily and i am rather enjoying this golden age without a kyc and getting as many bitcoins as i can before our laws get tighten on this.

Not all of the people are tech savvy so they may be using bitcoin only to gamble and not venture deep down in anonymous coins like Monero.Still compared to traditional Fiat gambling where you cannot withdraw without Kyc in most of bitcoin casinos you are allowed to withdraw a certain limit of money every time without any Kyc and this is the biggest benefit of playing with bitcoins.

[o48o]

Not all of the people are tech savvy so they may be using bitcoin only to gamble and not venture deep down in anonymous coins like Monero.Still compared to traditional Fiat gambling where you cannot withdraw without Kyc in most of bitcoin casinos you are allowed to withdraw a certain limit of money every time without any Kyc and this is the biggest benefit of playing with bitcoins.

Yeah, you can do that but i was talking about the difference of anonymity and pseudonymity. And if you want to cash it out in fiat and are not trading it otc, you most likely need a kyc in that point. That's what i meant.

[proTECH77]

Not all of the people are tech savvy so they may be using bitcoin only to gamble and not venture deep down in anonymous coins like Monero.Still compared to traditional Fiat gambling where you cannot withdraw without Kyc in most of bitcoin casinos you are allowed to withdraw a certain limit of money every time without any Kyc and this is the biggest benefit of playing with bitcoins.

Yeah, you can do that but i was talking about the difference of anonymity and pseudonymity. And if you want to cash it out in fiat and are not trading it otc, you most likely need a kyc in that point. That's what i meant.

Agree with your opinion, more reason why we need cryptocurrency in the gambling industry. Keeping a gambler identity should be the most Paramount as cryptocurrency is concern in this industry. Bitcoin is the most safes among other gambling coins even including the fiat or traditional system.

[janggernaut]

I do not get this. The OP article is being copied ? If that is case then he must know that Copy pasting is not allowed here and he can face a ban.

Apart from this, Bitcoin has given a big boost to many industry and gambling is one of the most benefited industry by crypto currency.

It seems he copied from the link which he mentioned in the end of his post on OP, so you can check it too. Fortunatelly because of that he will not get a ban.

Bitcoin is the most safes among other gambling coins even including the fiat or traditional system.

How can bitcoin will be the safest among fiat or traditional gambling? We all know if in bitcoin born to be anonymously, which is not safe for the site (They don't know who are betting on their site and just processed their deposit or withdrawal without knowing about them)

[yvesp110]

Looks OP took lot of efforts to write this thread. There is lot of reason why gambler like to use crypto currency as a payment of gambling website. The main reason is anonymity, easy and fast transactions. Even gambling legal on few countries but you need to pay TAX. If you use crypto currency like bitcoin then you can save TAX as well. That's the main issue about crypto-currency uses on gambling site in my opinion.

If you are not using privacy oriented coins i think that you are meaning that you can play pseudonymously rather then anonymously.
And saving taxes doesn't apply in where i live where you have to pay taxes from profits in crypto.
But as right now, our government doesn't track profits too heavily and i am rather enjoying this golden age without a kyc and getting as many bitcoins as i can before our laws get tighten on this.

And I think this issue varies from place to place and from one jurisdiction to another. There are people who do not pay taxes and in countries like Dubai, where you do not have to pay taxes, it would not be a problem to use kyc in gambling. They just do not care about their id unlike in countries where by law, you have to be a filer and making more money in crypto would mean more taxes.

[bitgolden]

~snip

I am not sure if every game played is truly anonymous as we think.

Well, this is why people prefer to have their gambling game on a fully decentralized application and site that also uses privacy coin, that is the only guarantee that they can have they are actually working through an anonymous system. When it comes to blockchain, majority of people only respect that name but does not really know how the operation looks like, and so long a website declared itself to be operating on blockchain technology, people therefore also believe that it is a blockchain system.

We have few gambling sites that are truly operating on decentralized system and those gambling sites are what we should pick interest in the most because they are the one that can truly protect your identity when you are operating through them.

[Tungsten-1]

I do not get this. The OP article is being copied ? If that is case then he must know that Copy pasting is not allowed here and he can face a ban.

Apart from this, Bitcoin has given a big boost to many industry and gambling is one of the most benefited industry by crypto currency.

It seems he copied from the link which he mentioned in the end of his post on OP, so you can check it too. Fortunatelly because of that he will not get a ban.

Bitcoin is the most safes among other gambling coins even including the fiat or traditional system.

How can bitcoin will be the safest among fiat or traditional gambling? We all know if in bitcoin born to be anonymously, which is not safe for the site (They don't know who are betting on their site and just processed their deposit or withdrawal without knowing about them)

But this is other way could be a blessing for the casinos as well. Due to the arrival of cryptocurrencies which hide your identity while you gamble over a casino, a large number of people have started gambling online now unlike before due to fear of getting their id disclosed and hence getting charged with income tax as a result of a rise in income due to a win in the gambling. 

[Moiyah]

Yes when you are in cryptocurrency and you know to use bitcoin you can easily access online gambling here bitcoin talk forum.
No need to go outside and play for gambling just stay athome using bitcoin now can play gambling.
playing just for fun,enjoy and can earn such a big money.

I just hope you just summarized the whole article for hs to easily read it. Anyway, it is why it is convenient for us to transact using cryptocurrencies in different websites like gambling, forum, trading websites and apps, etc. Crypto currencies are being popular nowadays. Gambling sites or apps are now offering different coins to play with and that may be a good thing to make more gambler to patronize cryptocurrencies.

[Best Dreams]

I do not get this. The OP article is being copied ? If that is case then he must know that Copy pasting is not allowed here and he can face a ban.

Apart from this, Bitcoin has given a big boost to many industry and gambling is one of the most benefited industry by crypto currency.

It seems he copied from the link which he mentioned in the end of his post on OP, so you can check it too. Fortunatelly because of that he will not get a ban.

Bitcoin is the most safes among other gambling coins even including the fiat or traditional system.

How can bitcoin will be the safest among fiat or traditional gambling? We all know if in bitcoin born to be anonymously, which is not safe for the site (They don't know who are betting on their site and just processed their deposit or withdrawal without knowing about them)

For me anonymity of bitcoin is the best thing and if we are getting it with gambling then it is best thing. Getting bitcoin with gambling is great opportunity there are so many sites even at my place that provides bitcoin betting and gambling opportunities so I would love to gamble for bitcoin if ever had a chance.