Betting : A big problem to crypto?

[cp_underground]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

that's one of the cryptocurrency ecosystem, and now many people are launching their betting/gambling platform using few Blockchain like Tron, Ethereum, EOS.

this is a good, because by using blockchain broker can't cheating user in gambling because broker don't have the decentralized of the platform

[Tipstar]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Crypto has enabled people to freely gamble online. Fiat has different restrictions based on the origin of gamblers country.
Though gambling itself is not a bad thing, crypto anonymous transfers has fueled illegal activities like match fixings.
With no means to track the origin and destination of transactions and their owners, there are many illegal deals among players and bookies that never gets the light.

[Crypt0BHunter]

IMHO I'm not sure if it surveys is relevant, betting on btc blockchain is very slow, and the most eth transactions are interactions with smart contracts, and DeFi

[Kvalentine]

Betting is not a threat to crypto and with betting platforms that are using crypto i think they are actually helping, its another effective way to make crypto more useful, its one of the reason i like betting projects, its really hard to see such project become useless

[Little_king]

is this a jok or what cos i dont know why u will think every transaction in crypto is for betting and that make crypto a bad thing to the community but i see everyone who use their future to bet as nuisance cos holding it till live time is better than betting it to which it can be lost.

[NoirSuccubus]

Betting is just a form of a game, it is involved in almost every depart, and it is just a form of gambling. The truth is, most of the crypto is used for gambling and betting of sorts, and this will make crypto more popular and widely accepted. More new people will come to know about this amazing world, and the crypto world will keep on growing and increasing it’s withholding.

[plast555]

Gambling is just another way to spend your money. But blockchain can extend this use in different ways.

For example, staking the token of the platform and gaining passive income is one of them. Nowadays none of the traditional casinos gives you this opportunity. In fact, no casino allows you to gamble in an anonymous manner.

The expansion or adaptation of blockchain can take place through gambling, I have no problem with that. We live in a free world and people are free to do whatever they want if their habits do not harm society at large.

[SistaFista]

If peoples think cryptocurrency is used for betting, then it is no problem because that is just their point of view.
They will change their point of view if they look crypto closer, follow the project in the community and observe the crypto market.
So i think this is not a big problem for cryptocurrency because that is just a personal point of view.

[rahmatullah9305]

Bitcoin which is used as a gambling tool at this time will not destroy nor affect the reputation of bitcoin, instead Bitcoin has now become a sweetener in online gambling facilities. Then with Bitcoin used as a means of gambling can uphold the name of Bitcoin? The answer is no. Bitcoin can be destroyed if there are parties, personal, organizations or anyone who denigrates Bitcoin by making Bitcoin a means of scams, fraud and so on.

[Rikotin]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

bet what you mean, is it some kind of gambling project? I don't think that's a problem because investing in this market there are many ways to get profits. but if the story is about misuse of transactions such as the sale of drugs or other illegal transactions this is a big problem and has an impact on the bad image of crypto.

[Tylev]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Most likely, this was outdated information. When tokens began to be created, really a lot of them immediately began to be used in the gaming business instead of tokens and chips. It was very convenient and it seemed that the institution was following the new technology and introducing it into itself. Perhaps at that time there was information that 60 percent of cryptocurrencies were used for betting. Now there are more than two thousand altcoins. It cannot be that more than a thousand of them work now in the gaming business.

[gunhell16]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Definitely not, even without crypto, there is a lot of them all over in the internet using cash or cards.
Even without the internet, we are living the world full of gambling not to mention LAS VEGAS.
Now we are with crypto and gambling is normal, I might put my crypto there than to invest in a scam project.

[passwordnow]

What's wrong with that? almost every transaction that's held with crypto is becoming bad in public view. This isn't a problem, in fact that the crypto gambling industry has contributed big to its potential. Before that there's no use to crypto, people talk about it and question its potential. And now that there are services and transactions made to it, now those transactions are being questioned if its okay. Grow up, crypto transactions are decentralized.

[Shallow]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Let me start by asking a question, is there anything wrong with using fiat for betting? Does it change the nature of fiat? The answer is NO. So in the case of crypto, I do not see anything wrong with its use in any way seem fit instead it ends up widening the use of crypto while attracting more attention. What you should know is, most people spreading all these unwarranted news about crypto are those who are yet to gain the knowledge of what crypto is all about. Am glad that apart from betting crypto is also finding wide use in various platforms.

[joshy23]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

Definitely not, even without crypto, there is a lot of them all over in the internet using cash or cards.
Even without the internet, we are living the world full of gambling not to mention LAS VEGAS.
Now we are with crypto and gambling is normal, I might put my crypto there than to invest in a scam project.

Reality in this world even without crypto gambling will exist, there's no point to think that it will reflect as a bad things to this system, better to think that it will be a good one since gambling system needs security and if crypto will excel then it will be notice not only by the gambling industry but also with large businesses who will also see the potentials of this system to integrates with their existing one.

[bvg96634]

Gambling and betting are involved in crypto. Yes, it does give crypto a bad name, but betting is involved in almost everything in the world, so it is just a normal thing, and people should accept it. Many projects work better when betting is involved, just a thought.

[3x2]

Betting is not a problem as a whole in terms of transaction. generally all betting transactions are internal to the gambling infrastructure of institutions.

The real problem is addiction, and with anonymity one can hide behind PC and can easily get addicted and he wont ever able to find this. The bitcoin or crypto gambling is thriving just because they are able to get people bet on any events.

[Saverenergy]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

At the expense of using such a large percentage of cryptocurrencies (more than 60 percent) for betting, I doubt it. But 95 percent of cryptocurrencies are used for manipulation, of which I am sure.

[Mighty_crypt]

As a full time bounty hunter i always get attracted to gambling projects, as a matter of fact many of them pays well in the past and many people always use their platform, i guess many people like trying out their luck, i remember making big money from bethash and blockstamp project

[jmigdlc99]

I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?

As long as it is used, specifically for betting and gambling, i wouldn't worry too much. It counts as real world adoption and thats whats important because it further proves to strengthen the value of cryptocurrencies as something of value in the real world.

Besides, that article is most likely false too anyway, 60% is too much.