2012-11-30 Calvinayre.com - Bitcoin presented to Casinos in Macau

[MemoryDealers]

http://calvinayre.com/2012/11/30/conferences/social-gaming-asia-summit-summary-ao-video

Bitcoin portion of the video starts at 1:45

[Micon]

http://calvinayre.com/2012/11/30/conferences/social-gaming-asia-summit-summary-ao-video

Bitcoin portion of the video starts at 1:45

top top work again by the bitinstant people.  Doing bitcoin proud IMO.

[MemoryDealers]

Everyone was constantly telling us that Bitcoin was by far the most interesting thing at the conference.
We setup numerous people with Bitcoin wallets on their smartphones and gave them some of their first bitcoin.

[paraipan]

Everyone was constantly telling us that Bitcoin was by far the most interesting thing at the conference.
We setup numerous people with Bitcoin wallets on their smartphones and gave them some of their first bitcoin.

I like the young and motivated executives impression you guys have, keep up the good work  

[DeathAndTaxes]

Very nice. Bitcoin has some stiff competition from commercial online game payment and economy systems and imho it's by far the best option even at this early stage, hope some of the attendees are thinking the same thing now

Have you see the rates for those payment processors?  They are in the 10% to 20% with all chargebacks deducted and most require a hold of some % of funds for 90 days (a chargeback reserve).

I would say those stop gap payment processors face stiff competition (i.e. an extinction level event) from bitcoin if/when it ever reaches critical mass.  A site like Party Poker or Pokerstars could save a hundred million dollars a year (and no that isn't an exaggeration) simply by having a low cost, high speed irreversible payment method.  Hell BitInstant's ~5% fee is downright "free" compared to the costs that gaming sites currently pay.   A gaming site could offer to double the fee for customers (i.e. we will cover BitInstant's fee plus give you a bonus 5%) and still come out way ahead given the irreversible nature. 


Also that doesn't include things like your "trusted" payment processor disappearing with the money.  In the Full Tilt Poker case it came out that two of FTP processors simply stole the money.  The link below is for one which stole $42 million (and IIRC there was another "smaller" theft which involved something like $20M more). 

http://betting.betfair.com/poker/poker-news/full-tilt-poker-robbed-by-payment-processor-010911.html

Despite these costs online gaming is hugely profitable because the average drop (% of funds deposited which end up in the house's pocket) is something like 50% to 60%+. 

Still the potential to cut out the largest two costs (payment processor and fraud losses) is something no business is going to ignore for long.  There still is that huge chicken and egg problem.  Accepting Bitcoin does little good if almost nobody has them.  There is no reason for someone to have them if nobody accepts them.  That problem is slowly solving itself.  

[kiba]

Very nice. Bitcoin has some stiff competition from commercial online game payment and economy systems and imho it's by far the best option even at this early stage, hope some of the attendees are thinking the same thing now

Stiff competition? Everyone is scared of entering our niches!

[Gabi]

Great, this fascist country block me from reading the website linked by DeathAndTaxes

Censorship all the way

2 seconds later Google>copy-paste the link>copy cache>i'm happily reading it.

[Yankee (BitInstant)]

Great, this fascist country block me from reading the website linked by DeathAndTaxes

Censorship all the way

2 seconds later Google>copy-paste the link>copy cache>i'm happily reading it.

I'm just curious...which country blocked it?

[Gabi]

Here in Italy if a casino website isn't registered and have the authorization/license/whatelse to operate in Italy then it's automatically CENSORED

[Yankee (BitInstant)]

Here in Italy if a casino website isn't registered and have the authorization/license/whatelse to operate in Italy then it's automatically CENSORED

WOW! I did not know that!

Does SatoshiDice work?

[bitboyben]

good thing you can get VPN with bitcoins... (if necessary)

[HostFat]

WOW! I did not know that!

Does SatoshiDice work?

It works because in Italy near nobody knows what it is Bitcoin
If this is going to change, the next day we will probably NOT be able to connect to any websites that has Bitcoin/Satoshi on URL.

[justusranvier]

If this is going to change, the next day we will probably NOT be able to connect to any websites that has Bitcoin/Satoshi on URL.

Would they block github for hosting the source code for the reference client?

[HostFat]

They will not understand what it is Bitcoin. They will just do this equation: Bitcoin = unregistered poker -> No money for state -> ban.

[01BTC10]

I think SwitchPoker is accepting Bitcoin payment for over a year now. Mass adoption from online gambling site would be an awesome news. That would also stop most of the carding and chargeback fraud currently occuring. Great work BitInstant!

[Stephen Gornick]

It works because in Italy near nobody knows what it is Bitcoin

That's changing:

Rivista Italiana di Intelligence - Bitcoin: la moneta del Cyberspazio
 - http://gnosis.aisi.gov.it/gnosis/Rivista31.nsf/ServNavig/11


warren mosler about bitcoin 2012 at [MMT Italy 2012]
 - http://www.youtube.com/watch?v=m_NePQAODv0


Seminario Crimini Informatici - Silk Road e Bitcoin - Cosenza
 - http://bitcointalk.org/index.php?topic=114732.0

[sunnankar]

It works because in Italy near nobody knows what it is Bitcoin

That's changing:

You may find this in helping educate people in Italy about how to use Bitcoin: Guida per Principianti ai Bitcoin e ai Servizi Bitcoin

[Dusty]

You may find this in helping educate people in Italy about how to use Bitcoin: Guida per Principianti ai Bitcoin e ai Servizi Bitcoin

Hello Trace, I did'nt know that you translated in italian some of your books, hat off!

I linked your book on my blog.

Btw, I see that on coindl page you linked the english version of the bitcoin video, but you should consider using the italian one: http://www.youtube.com/watch?v=QSUJqb33Sd8