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Author Topic: all btc casinos are doing quite well and are one of the main btc engines  (Read 750 times)
intel-core-i7
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March 17, 2013, 04:36:40 PM
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While playing this simple to setup ( and play ) gambling site :

http://www.bitcoincrown.com/


( yes, I know what u think - the answer is: I already exited from the crwon owner's place )


I thought to myself - its kinda shameful that gambling propells this world saving new thing BTC...

So alongside gambling and moeny l..ndering what are the major other factors that pump capital into btc ?


What do u think?

Can u give a list in importance descending order ?



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March 17, 2013, 05:02:28 PM
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Yeah - drugs, both silkroad and drug money transfer and anonymous storage. Capital tax evasion, all over the world. Customs evasion/safety when traveling.

Basically, any industry where you don't want everybody to know about your capital is a potential bitcoin user. Market cap is not yet there to accomodate all, but it should grow according to interest. Next couple of years are interesting, because we could still see the real BTC rocket takeoff.

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March 17, 2013, 05:09:33 PM
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Not in any particular order:

- Donations, fundraising
- Cheap and convenient money transfer
- Paying for services/work
- Paying for products
- Investment
- Mining scene

I think these are the most important driving factors of the bitcoin economy, or at least I'm using it for these. Smiley
BTC Books
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March 17, 2013, 06:32:58 PM
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Quote
...what are the major other factors that pump capital into btc ?

I can't support it with hard numbers, but this is the Speculation Forum.  In order, I'd go with:

Speculation/Investment
Gambling/Drugs (Tied 2-3)
Capital Confiscation Evasion (Taxes/Borders/Estate/Money Transfer)
Product purchase/payment (Hard/Soft)
Donations/Tipping

In six months to a year I think that will change markedly, to:

Speculation/Investment
Capital Confiscation Evasion (Taxes/Borders/Estate/Money Transfer)
Gambling
Donations/Tipping & Product purchase/payment (Tied)
Drugs

In two to three years Capital Confiscation Evasion and Gambling will be tied for first, by a wide margin.

n.b., Note that I conflate taxes of all sorts and private/banking money transfer fees under the heading of Capital Confiscation.

Dankedan: price seems low, time to sell I think...
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March 17, 2013, 06:39:28 PM
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I think what we need for more BTC adoption is some major porn site adopting payment in BTC.  Think about it, porn has always driven (pun intended!) every markets.  And also, for all the anonymous Joe, that can provide easy anonymous payment option away from the eyes of their wife.

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March 17, 2013, 06:44:47 PM
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While playing this simple to setup ( and play ) gambling site :

http://www.bitcoincrown.com/


( yes, I know what u think - the answer is: I already exited from the crwon owner's place )


I thought to myself - its kinda shameful that gambling propells this world saving new thing BTC...

So alongside gambling and moeny l..ndering what are the major other factors that pump capital into btc ?


What do u think?

Can u give a list in importance descending order ?




If you haven't seen it already, Falkvinge identifies three major drivers of Bitcoin economy besides gambling/unlawful trade (I don't take this to be an exhaustive list).

http://falkvinge.net/2011/06/16/bitcoins-four-drivers-part-one-unlawful-trade/

http://falkvinge.net/2011/06/18/bitcoins-four-drivers-part-two-international-trade/

http://falkvinge.net/2011/07/03/bitcoins-four-drivers-part-3-merchant-trade/

http://falkvinge.net/2011/07/05/bitcoins-four-drivers-part-4-investment/

As for what's driving demand for coins now in terms of these four, I think the order is something like:

1) Speculative investment (but institutional/retail investing hasn't really kicked in yet).

2) Gambling/unlawful trade.

3) Lawful trade (merchant and P2P).

4) International commercial trade (given the transaction sizes involved here, this probably won't kick in significantly till BTC price gets much higher, and we see escrow services on a much larger scale).

  

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