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Author Topic: [2018-05-08] Bitcoin Casinos Grow in Popularity – Why?  (Read 65 times)
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May 08, 2018, 11:00:32 AM
 #1

Bitcoin Garden: Bitcoin Casinos Grow in Popularity – Why?
https://bitcoingarden.org/bitcoin-casinos-grow-in-popularity-why/

If you have not been living under a rock for the past nine years, you will have heard of this new thing called Bitcoin. Last year saw Bitcoin hitting headlines day in and day out and in fact, it’s a household term now. Basically, Bitcoin is an alternative economic system which is based entirely in the digital world. Since it’s digitally produced and makes use of cryptography to secure it, Bitcoin also called cryptocurrency. The term cryptocurrency was coined after Bitcoin came into being and since then, there are hundreds of other cryptocurrencies entering the sphere.

In the short time that cryptocurrencies have been around, they’ve become very popular throughout the world. They present a decentralized form of economy that does not rely on any central body to regulate and validate transactions. It is all done for the people by the people who use the cryptocurrency through consensus. It is essentially changing how the economic system can work by providing an alternative to traditional currency systems.

While it is true that there is no way that Bitcoin and other cryptocurrencies will replace the current economic system any time soon, they have gone to show that technology is changing the way we live our lives. In fact, Bitcoin has also found its way into being used for gambling. Mainly the list of Bitcoin casinos has grown with the increased popularity of the cryptocurrency itself....


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May 08, 2018, 11:45:40 AM
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Because no government wants to regulate the cryptocurrency gambling industry.They all want to regulate the crypto trading platforms,because all the politicians are slaves of Wall Street and the Wall Street brokers don`t want to lose their monopoly.Sooner or later they will hit the crypto casinos.
By the way,this is a very generic article about bitcoin.

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May 08, 2018, 11:54:49 AM
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Because no government wants to regulate the cryptocurrency gambling industry.They all want to regulate the crypto trading platforms,because all the politicians are slaves of Wall Street and the Wall Street brokers don`t want to lose their monopoly.Sooner or later they will hit the crypto casinos.
By the way,this is a very generic article about bitcoin.

The simple truth is that they have not found ways get a full grasp on how bitcoin works and when they do, they would definitely control every places its being used and they are doing it indirectly even for online gambling sites and those that they cannot control, they are forced to close business without thinking twice. And how they do it is through licences that online gambling sites rely on to determine their legality which wont be issued without some form of KYCs that they must enforce on their sites. If they can do it for online gambling sites, they surely are doing if for the offline casinos

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May 08, 2018, 12:24:38 PM
 #4

Because Bitcoin casinos do not do the nonsense of fiat casinos, that is why! First of all, whenever I want to gamble online, almost every casino has restrictions on me. Worse still, they let me signup and deposit, and then come withdrawal all sorts of blocks and sending of documents. Bitcoin casino? I register, sign up play withdraw, never any questions never any problems.

And even in here, if you have issues you talk to them on BCT thread (like I recently did with bitcoinrush) and they resolve it plain and easy.



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May 08, 2018, 12:37:33 PM
 #5

Compared to casinos that uses fiat to gamble sometime discrimination happens like you have limit to use and minimum amount to starts because they know your occupation and a lot of eyes is in you when you loss and when you win they will say you are cheating, so better use digital way of gambling, learn-registered-earn-lose-keep your identity unknown to others, it works better this way.

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May 08, 2018, 01:46:36 PM
 #6

Compared to casinos that uses fiat to gamble sometime discrimination happens like you have limit to use and minimum amount to starts because they know your occupation and a lot of eyes is in you when you loss and when you win they will say you are cheating, so better use digital way of gambling, learn-registered-earn-lose-keep your identity unknown to others, it works better this way.

I don't know what casino did you go but I haven't feel any discrimination here in my country. I have been playing in a land based based casino for 10 years and so far I also didn't see that you need to "show some money" before they let you inside. Only discrimination I'm thinking is that if you are really underage and if you don't wear proper decorum. As far as the reason why bitcoin is popular? Anyone can play, you just need internet and money to deposit and that's it. Plus you are anonymous.

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May 08, 2018, 01:55:08 PM
 #7

As far as the reason why bitcoin is popular? Anyone can play, you just need internet and money to deposit and that's it. Plus you are anonymous.

Add to that most Bitcoin casinos have very low minimum bets and large max payouts. Try going to a fiat online casino and making at $0.00009127 bet and you won't have any luck, but there are plenty of places you can bet 1 Satoshi.

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May 08, 2018, 05:36:28 PM
 #8

There's only one industry that's always in the uptrend, and that's gambling. The adult industry is still the biggest revenue maker online, but gambling has always been "recession proof". Even gold, which used to be in that bracket, has seen its decline. I think it's only natural that this spills over into Bitcoin use. Bitcoin regulators will also take a page out of the history book when it comes to Bitcoin. Everyone did their best to regulate online gambling, but it's just grown in strength.

As far as the reason why bitcoin is popular? Anyone can play, you just need internet and money to deposit and that's it. Plus you are anonymous.

Add to that most Bitcoin casinos have very low minimum bets and large max payouts. Try going to a fiat online casino and making at $0.00009127 bet and you won't have any luck, but there are plenty of places you can bet 1 Satoshi.


Not to mention faucets, transparent house edges. Try asking a pitboss if you can verify that last Blackjack hand you played or if you can ask to see the RNG mechanism on their slots.

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May 08, 2018, 07:13:50 PM
 #9

Bitcoin casinos can be established offshore as well and this can result in negligible regulation. Although transaction fees have increased compared to a year ago (they have fallen compared to a few months ago), they are still way cheaper than the traditional card transfers to an overseas jurisdiction. Plus bitcoin casinos can claim that they are provably fair, something traditional casinos cannot.


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May 08, 2018, 07:41:05 PM
 #10

Because no government wants to regulate the cryptocurrency gambling industry.They all want to regulate the crypto trading platforms,because all the politicians are slaves of Wall Street and the Wall Street brokers don`t want to lose their monopoly.Sooner or later they will hit the crypto casinos.
By the way,this is a very generic article about bitcoin.

The truth is, players and casino operators don't need government's regulations, provably fair technologies already ensure fairness via cryptography, so there's only risks of exit scams and investor fraud left. On the other hand, the government can't leave a growing industry untaxed, so they will go after the owners of crypto casinos. I just hope that they will keep operating on the gray market, since it allows them to deliver the best conditions for players, which would be ruined by regulations.

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May 08, 2018, 11:20:16 PM
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Compared to casinos that uses fiat to gamble sometime discrimination happens like you have limit to use and minimum amount to starts because they know your occupation and a lot of eyes is in you when you loss and when you win they will say you are cheating, so better use digital way of gambling, learn-registered-earn-lose-keep your identity unknown to others, it works better this way.

I don't know what casino did you go but I haven't feel any discrimination here in my country. I have been playing in a land based based casino for 10 years and so far I also didn't see that you need to "show some money" before they let you inside. Only discrimination I'm thinking is that if you are really underage and if you don't wear proper decorum. As far as the reason why bitcoin is popular? Anyone can play, you just need internet and money to deposit and that's it. Plus you are anonymous.

Havent heard about any discrimination also in this area and dont see how there could be.

The popularity is easily explained by anonymity and lack of taxation. Have to note that crytpto casinos cant be banned if they even wanted to, they are in some ways gamblers paradise . Possibly the only problem could be trust issue -algorithms and such.

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May 09, 2018, 06:01:06 AM
 #12

As far as the reason why bitcoin is popular? Anyone can play, you just need internet and money to deposit and that's it. Plus you are anonymous.

Add to that most Bitcoin casinos have very low minimum bets and large max payouts. Try going to a fiat online casino and making at $0.00009127 bet and you won't have any luck, but there are plenty of places you can bet 1 Satoshi.


Not to mention faucets, transparent house edges. Try asking a pitboss if you can verify that last Blackjack hand you played or if you can ask to see the RNG mechanism on their slots.

When you look at all the advantages it is difficult to see how fiat online gambling will survive if/when Bitcoin gets mass adoption. At the moment there is still the vast majority that wouldn't even know how to get any Bitcoin or find a Bitcoin casino, but that won't last forever.

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May 09, 2018, 06:53:21 PM
 #13

It's simple - people have always been looking for strong emotions and "easy" money. Blockchain and bitcoin technologies have nothing to do with it. Just an ordinary gambling, sometimes leading to tragedies.

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May 09, 2018, 07:20:14 PM
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Because no government wants to regulate the cryptocurrency gambling industry.They all want to regulate the crypto trading platforms,because all the politicians are slaves of Wall Street and the Wall Street brokers don`t want to lose their monopoly.Sooner or later they will hit the crypto casinos.
By the way,this is a very generic article about bitcoin.
To keep your facts straight, gambling casinos also goes to the process and screening done by Fiat operated gambling casinos, and that right there is proof of regulation to to cryptocurrency gambling casinos. No government in their right mind will just allow this casinos to earn freely and don't pay their taxes unlike what regular e-casinos are doing, in fact this crypto casinos might even be earning more compared to some e-casinos out there. I don't even know where you get your information linking wall street brokers and crypto casinos.

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darkangel11
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May 09, 2018, 09:02:12 PM
 #15

It's simple - people have always been looking for strong emotions and "easy" money. Blockchain and bitcoin technologies have nothing to do with it. Just an ordinary gambling, sometimes leading to tragedies.
Like any other thing in the world hasn't been leading to tragedies at times. Misuse something as trivial as a bleach or a pipe cleaner and you'll end up with burns on your skin, lungs, stomach, depending on what you do with it. You can also end up blind if it gets into your eyes. Gambling isn't wrong and should not be treated like that, it's simply an activity, like playing computer games. Some Korean dude killed himself playing Starcraft for a few days straight. Does it make starcraft bad? Cheesy

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..WHITEPAPER..





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