Betting : A big problem to crypto?

[Silberman]

No, it's not a big problem in the future every industry will accept or integrate Cryptocurrency, the gambling industry is the first to fall many more industry will fall but the big fish, will be the big merchants like Amazon Alibaba and the like I love to see many online companies accepting Cryptocurrency because right now there are so many coins to pick in the market.

It is not difficult to guess why this is happening, before bitcoin if you wanted to gamble you could deposit your money in the casino but if you wanted to make a withdrawal even of just one dollar you need to go through KYC, this was a huge issue especially if you had won big in the casino and they used every excuse possible to not pay you, but when bitcoin appeared people realized that you did not needed to do any of that and you could gamble freely, and what is even better, the minimum limit was way lower on most bitcoin casinos which allows you to play longer and have more fun for the same amount of money.

[cudora]

I do not think that the numbers are right, but gambling is definitely one of the most popular use-cases of blockchain technology, because it revolutionise the whole centralised gaming industry and leaves no space for manipulations of providers.

[JayTrain]

I don't think that stats are correct. 60% of transactions are betting related? Please...

There are a lot of use cases for crypto. Investing, trading, spending on the sites that accept them, and sometimes betting. To think that betting single handedly takes 60% of the transactions? I don't think so...

I agree, the figure is too high, the gaming business is really very profitable, but only for the organizers, ordinary users like ordinary players lose their money, then mania begins, and I think that this is not the main purpose of using crypto

[Best Dreams]

No, it's not a big problem in the future every industry will accept or integrate Cryptocurrency, the gambling industry is the first to fall many more industry will fall but the big fish, will be the big merchants like Amazon Alibaba and the like I love to see many online companies accepting Cryptocurrency because right now there are so many coins to pick in the market.

It is not difficult to guess why this is happening, before bitcoin if you wanted to gamble you could deposit your money in the casino but if you wanted to make a withdrawal even of just one dollar you need to go through KYC, this was a huge issue especially if you had won big in the casino and they used every excuse possible to not pay you, but when bitcoin appeared people realized that you did not needed to do any of that and you could gamble freely, and what is even better, the minimum limit was way lower on most bitcoin casinos which allows you to play longer and have more fun for the same amount of money.

No, i think it’s not only gambling because people gamble and earn money but they should not just talk negative not only in gambling but also in investing and trading when people lose because of their mistakes so they start talking negative and spread bad news which effects whole market so people should keep patience and avoid mistakes than talking negative.

[pixie85]

I do not think that the numbers are right, but gambling is definitely one of the most popular use-cases of blockchain technology, because it revolutionise the whole centralised gaming industry and leaves no space for manipulations of providers.

Even if it was right what's wrong with betting? Maybe it isn't the best use of money but it sure is a use. It's something all currencies in the world have been and are used for.
When people were using seashells to trade they were also gambling. Gambling is as old as the intelligent mankind.

It's not a problem for crypto but rather for people who live in a society in which gambling has a bad reputation.

[TaliskerDarkStorm]

The gambling industry has had the opportunity to become decentralized thanks to blockchain. In this way, the issues of user anonymity, privacy and security came to the fore. I don't gamble, but I also oppose restrictions on those who gamble. As long as everyone knows his limits and does not harm others, he is free to do whatever he wants.

Gambling and dapps are becoming more and more common. I don't think it's a problem, but rather I think it contributes to adaptation.

[Lauren Smith]

It is not just a problem exclusive to crypto. Crypto gambling is just much easier to do the traditional online gambling and you get faucets and promotions and the like that go along with it. Even some countries outlaw gambling since they think its bad for the people. I tend to agree however i belive in freedom and that if someone wants to gamble they should have the freedom to do so.

[Pearls Before Swine]

That statistic might be true, but so what?  Crypto, and especially altcoins because they have quicker confirmation times and lower network fees, is ideal for betting online.  I think it's a great thing that there are so many casinos where you can use alts to gamble.  I'm sure certain gov'ts don't like the anonymity that is inherent in crypto gambling, but it's freedom for the people.

Even if it was right what's wrong with betting? Maybe it isn't the best use of money but it sure is a use.

Exactly what I was thinking.  It's an excellent thing that crypto is being used.  In the U.S. gambling isn't looked down upon at all, so it isn't like crypto's utility for gambling gives it a big black mark like silk road did, right?

[jajorforce]

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?

Why this make you sure that betting isn't portrays cryptocurrency in a good way. Yesterday another betting site was active, so another new users will start using crypto. Their website is accepted all top coin with twice bonus, this is another demand of cryptocurrency.

[DeathProxy]

Since betting is not illegal in most  countries i don't see as how this will be an issue for crypto. Crypto provides fast confirmation and a highly scalable network of which is highly beneficial for betting platforms. Crypto revolutionize the betting platform by decentralizing the entire system, if crypto can conveniently penetrate the betting industry it will go a long way to bring crypto into mainstream

[Silberman]

I do not think that the numbers are right, but gambling is definitely one of the most popular use-cases of blockchain technology, because it revolutionise the whole centralised gaming industry and leaves no space for manipulations of providers.

Even if it was right what's wrong with betting? Maybe it isn't the best use of money but it sure is a use. It's something all currencies in the world have been and are used for.
When people were using seashells to trade they were also gambling. Gambling is as old as the intelligent mankind.

It's not a problem for crypto but rather for people who live in a society in which gambling has a bad reputation.

There is nothing wrong with gambling, even if cryptocurrencies were good only to be used in gambling games it will still be a great triumph for cryptocurrencies, the gambling industry is huge around the world, if we could make that every single casino around the world to accept bitcoin then I have no doubts that the market cap will be many times higher than what it is now, fortunately for us bitcoin can be used for a lot of other things other than gambling.

[Genkotsu]

Since betting is not illegal in most  countries i don't see as how this will be an issue for crypto. Crypto provides fast confirmation and a highly scalable network of which is highly beneficial for betting platforms. Crypto revolutionize the betting platform by decentralizing the entire system, if crypto can conveniently penetrate the betting industry it will go a long way to bring crypto into mainstream

as we know betting is popular games on crypto community, because as you said in few country is legal and make country profit from tax.
in blockchain community to, bet and dice is popular because people don't worry about the fraudulent from broker, because the plaform running in blockchain

[Bezobraznike]

Since betting is not illegal in most  countries i don't see as how this will be an issue for crypto. Crypto provides fast confirmation and a highly scalable network of which is highly beneficial for betting platforms. Crypto revolutionize the betting platform by decentralizing the entire system, if crypto can conveniently penetrate the betting industry it will go a long way to bring crypto into mainstream

   Gambling should be legal everywhere, it`s my opinion. Why to ban it? People are free to choose where they wish to
spend money for their entertainment. I`m a weekend gambler, I like to place bets on sports I watch from time to time,
I wouldn`t like someone to forbid me to do that.
   I don`t think that statistics are accurate. How can someone tell that 60% of all transactions are in gambling purposes? With anonymous
transactions it`s hard to make such statements, I don`t think that anyone can give information`s about that. And from number of exchanges
and volumes there, I think that more transactions are for trading than for gambling.

[styca]

I don't think the question of what most crypto transactions are used for is that relevant. We are a long way from the end state for crypto, and almost every coin has future use cases rather than right-here-right-now use cases. There is a huge amount more to come from crypto, and I'm sure transactions will be for a huge variety of different things as the technology progresses and its adoption in mainstream society becomes common.

[Tungsten-1]

Since betting is not illegal in most  countries i don't see as how this will be an issue for crypto. Crypto provides fast confirmation and a highly scalable network of which is highly beneficial for betting platforms. Crypto revolutionize the betting platform by decentralizing the entire system, if crypto can conveniently penetrate the betting industry it will go a long way to bring crypto into mainstream

as we know betting is popular games on crypto community, because as you said in few country is legal and make country profit from tax.
in blockchain community to, bet and dice is popular because people don't worry about the fraudulent from broker, because the plaform running in blockchain

Gambling has been there since people started earning money. This was used for fun at that time and later they started using it as a stream for making money. Gambling is common all around the world and people enjoy it, so those governments that have made it legal have done great because in this way they have channelized money for taxes. 

[mirgo1791]

not all of users or partisan with the business on crypto agrees as working on bot to helps as reducing waste on expends as users might keep on focus with the manage of work as the decision on occupying helps of tools and utility as preparing entrance into the table of gambling with the service from different developer as available on offers with the forum.

with uses of BITSEY BOT users might plays of dingdong on dice game with the Yobit service as reducing worse of waste on emotion as keeping on focus to manage of work on tasks with evaluation as moderating returns of drawing as the playing of bot on games with the Yobit service.

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[sapnu]

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?

I don't think that is true, many cryptocurrencies are being used in a different ways, there are people using it as a payment method in some transaction, and there are also people that are using crypto to invest money in some projects that they want to support and earn money, but most likely there are lots of people using crypto in some gambling and playing some games on gambling site to earn money, some wants to enjoy but most of them want to earn money. But I don't think that the percentage really defined how many crypto is being used in betting because cryptocurrency has a lot of use and we all know that.

[DaveWave]

It's nonsense. Crypto is decentralized so no one is to be blamed for whatever its users do. Gambling is legal in nearly all countries around the globe. Those that consider gambling as illegal are centuries left behind and should ban smoking first than gambling.

[SummerBliss]

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?

No crypto gambling is not anything bad unless you are related with any illicit activity commited to crimes.Its only your viewpoint that what you perceive in bad or good way but crypto gambling has become a trend in the market and many new users found it interesting and enjoy this way.So we can say it has enhanced the business of cryptocurrencies in the world of online trade.

[Palider]

Crypto Currency is a form of money, so there is nothing wrong with it. It is similar to fiat money being used in gambling and elsewhere. This is why it does not describe crypto currencies because as you can see, it is also used for product purchase, transaction payment usage and much more.