Betting : A big problem to crypto?

[Kiefner]

I also don't see anything wrong with it. Everyone uses cryptocurrency the way they want. Fiat money is also used for gambling, so this should not spoil the reputation of the cryptocurrency.

[Darooghe]

In fact i don't see any problem, if Crypto is not used for real transactions it's value can be zero and probably will be. In my opinion it shows the power of Crypto and Blockchain technology. every single online gambler only wants one thing. Fast, instant and secure cashouts. back in the day before "black Friday" when US banned online gambling, cash-outs were super quick, and you were able to send back and forth between your bank account in a matter of minutes. then it got slower and slower. today, when you click cashout, it takes at least 2 days for them to even "review" it, and they leave the balance in your account so you can lose it in that "review" time period. I want instant cashouts, instantly to be able to send to Coinbase or whatever, and crypto is the only best option.

[19Nov16]

Betting and gambling are very bad idea for crypto believer to loose money they should nt enter such markets

I think so, many people think that crypto is used for illegal activities such as buying drugs, weapons, and gambling so many countries forbid the use of crypto, this is the need for regulation so that it can regulate crypto clearly.

[huige007]

Gambling using crypto is certainly not a good thing to do, however in any case, gambling will certainly make a bad image of the crypto currency in various countries which indeed prohibits gambling, but in the crypto world itself there have been created several sites that are indeed possible the players use crypto currencies like trx, btc, and eth to make bets. I think it will be very difficult to keep crypto from gambling because now the crypto gambling market has grown bigger.

I would rather say it is not a beneficial activity at all. Gambling is pure luck based game. No matter how hard you try, hoe much research you do, in the end, you will be entirely depending on luck lady and then there is this factor of house too. They also manipulate things according to their desires. The asset and time that people waste in such stuff could be utilized in better ways for helping oneself.

[Silberman]

In fact i don't see any problem, if Crypto is not used for real transactions it's value can be zero and probably will be. In my opinion it shows the power of Crypto and Blockchain technology. every single online gambler only wants one thing. Fast, instant and secure cashouts. back in the day before "black Friday" when US banned online gambling, cash-outs were super quick, and you were able to send back and forth between your bank account in a matter of minutes. then it got slower and slower. today, when you click cashout, it takes at least 2 days for them to even "review" it, and they leave the balance in your account so you can lose it in that "review" time period. I want instant cashouts, instantly to be able to send to Coinbase or whatever, and crypto is the only best option.

It is incredible how governments can slow down not only a process that should take a few minutes but something that should be very cheap as well, can you imagine all the resources fiat casinos need to employ just to manually review every single withdrawal? That is money they could use to improve their games or their support and now goes to something that brings them no benefit, and not only that think about all the businesses that are never created because they cannot comply with their ridiculous regulations.

[lolgato1]

Why do you think that it is a problem? It is a real use case, people are very happy to use blockchain gaming because it is provably fair!

[aomakun]

Why do you think that it is a problem? It is a real use case, people are very happy to use blockchain gaming because it is provably fair!

Betting occurs because purely from users who want to play with crypto payments, not a problem for this. because betting is done on their own terms and as long as there is no fraud in it, that is not a problem
Because betting for me is a game to relieve stress

[ven7net]

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 think that this is quite normal. Isn't fiat money used for bets or electronic? Of course they are used, so why digital assets such as cryptocurrencies do not use this niche. Perhaps this will even accelerate the development and introduction of cryptocurrencies to the masses.

[Chrystora123]

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?

60% crypto transaction is used for betting??  are you sure about what you read in that article!!  I don't think this is an important thing to discuss.. as long as it doesn't harm people, I don't think there's anything wrong.

[Bonenx14]

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?

60% crypto transaction is used for betting??  are you sure about what you read in that article!!  I don't think this is an important thing to discuss.. as long as it doesn't harm people, I don't think there's anything wrong.

I can not believe it if there is no evidence of the article attached, there may be a mistake or news made to drop crypto. plus if that happens crypto is only a means of payment in a betting method, so I don't think it's a big deal. because the pure gamble is that the user does it

[gabbie2010]

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?

60% crypto transaction is used for betting??  are you sure about what you read in that article!!  I don't think this is an important thing to discuss.. as long as it doesn't harm people, I don't think there's anything wrong.

I can not believe it if there is no evidence of the article attached, there may be a mistake or news made to drop crypto. plus if that happens crypto is only a means of payment in a betting method, so I don't think it's a big deal. because the pure gamble is that the user does it

If the statistic is true and authentic then the reason could be as a result of betting in cryptos is a daily transaction whereas in trading a trader withdrawal might be on weekly or monthly basis depending on the trader's choice likewise miners however the above mentioned statistics of betting cannot paint cryptos in a bad light because those betting transactions are carried out legitimately.

[Coroline]

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 why crypto is used for illegal activities such as gambling because transactions that cannot be traced by who the owner will make it easier for those who are engaged in bad fields such as drugs we cannot blame crypto because it is not like other transactions traceable to the owner, and I don't think it is the wrong thing

[Aldrinx00]

Well betting and gambling is a popular way to earn or lose crypto, i don't see it as a bad image to crypto. However it's bad in a way if people get addicted on it then keep playing then lose all of his/her crypto, there must be some sort of restrictions to ourselves when it comes to betting.

[SanZoldyck]

cryptocurrcy is now widely used for gambling in addition to the features and benefits of crypto itself, and it is indeed bad

[akmal1984]

Well betting and gambling is a popular way to earn or lose crypto, i don't see it as a bad image to crypto. However it's bad in a way if people get addicted on it then keep playing then lose all of his/her crypto, there must be some sort of restrictions to ourselves when it comes to betting.

I understand and totally agree with you. Actually this is more to the personal problems of people who play gambling alone is not a problem for Crypto in general. Because in many countries they legalize gambling and managed professionally through the casinos they have. Precisely by placing crypto into gambling will increasingly make crypto famous

[Avirunes]

Well betting and gambling is a popular way to earn or lose crypto, i don't see it as a bad image to crypto. However it's bad in a way if people get addicted on it then keep playing then lose all of his/her crypto, there must be some sort of restrictions to ourselves when it comes to betting.

If people are getting addicted then it is their personal problem and not something that others should worry about. Regarding restrictions, most of the popular gambling sites provide an option to self exclude  yourself from the site so if you are like getting too much addicted then apply for that.

[zero714309]

If you talking about betting or gambling in crypto i think its depend on how people see this side but personaly im never interested with gambling dapps. Betting or gambling make us addicted and if you cant control your self it will destroy your financial. At this point we are talking about personal problem not crypto problem.

[Kevondo]

Why do you think that it is a problem? It is a real use case, people are very happy to use blockchain gaming because it is provably fair!

In my honest opinion, risking one’s precious asset in luck based games and losing them is a problem. It is not like there are high chances of winning bets even if everything is fair. There are better ways to utilize one’s digital asset and increase them in number. I have seen people who lost their bitcoin in gambling. Then all they were left with was regret. This is the reason why OP has this belief.

[zidanw]

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?

60% crypto transaction is used for betting??  are you sure about what you read in that article!!  I don't think this is an important thing to discuss.. as long as it doesn't harm people, I don't think there's anything wrong.

Gambling is only a fraction of the crypto problem than so large a fraud occurs. business within the scope of cryptocurrency there is indeed gambling but I myself do not believe that fact regarding gambling which is mentioned the main problem for crypto. really wrong. we can research what makes crypto problematic from this community and I'm sure it's not gambling

[Silberman]

If the statistic is true and authentic then the reason could be as a result of betting in cryptos is a daily transaction whereas in trading a trader withdrawal might be on weekly or monthly basis depending on the trader's choice likewise miners however the above mentioned statistics of betting cannot paint cryptos in a bad light because those betting transactions are carried out legitimately.

If those numbers are true then the reason why trading transactions are not number one is because when you deposit your money in an exchange and you begin to trade all movements you make with your coins are not done on the blockchain but in their database and a transaction is not made until you get your coins out of the exchange, so if you are a day trader and you make 100 different trades and then you get your money out of the exchange only one transaction will be registered on the blockchain.