Bovada removing bitcoin as payment option

[magneto]

They're not removing bitcoin, it seems like they're just removing the "mBTC" denomination, they're still taking bitcoin deposits and withdrawals here's a thread posted on their subreddit.

I have to say that the announcement is indeed confusing as other users also thought bovada stopped accepting bitcoin.

Importantly though I think they are taking away the option to wager in native BTC denomination.

This is still very disheartening because this means that BTC is reduced down to a means of transaction and not an actual unit of account on their site.

Not the best move given that crypto enthusiasts now price most things in terms of a native crypto denomination and not fiat.

[ChiBitCTy]

They're not removing bitcoin, it seems like they're just removing the "mBTC" denomination, they're still taking bitcoin deposits and withdrawals here's a thread posted on their subreddit.

I have to say that the announcement is indeed confusing as other users also thought bovada stopped accepting bitcoin.

Ahh very nice thanks for looking in to this, I was just getting ready to give them a call or shoot them a message. I thought that might be the case with just restricting mBTC payments, but not bitcoin. That makes a whole lot more sense, I would think if anything they’d get rid of those two absolute shitcoins in BSV and bcash.

[timerland]

They're not removing bitcoin, it seems like they're just removing the "mBTC" denomination, they're still taking bitcoin deposits and withdrawals here's a thread posted on their subreddit.

I have to say that the announcement is indeed confusing as other users also thought bovada stopped accepting bitcoin.

Ahh very nice thanks for looking in to this, I was just getting ready to give them a call or shoot them a message. I thought that might be the case with just restricting mBTC payments, but not bitcoin. That makes a whole lot more sense, I would think if anything they’d get rid of those two absolute shitcoins in BSV and bcash.

I think that they are still removing BTC balances, but essentially moving to a model where once you depo BTC it instantly gets converted to fiat.

With the bull run that we've had, people probably want to keep their BTC as BTC.

Some more clarification on this would be welcome.

[bbc.reporter]

It appears none of the people who has replied in the thread read the news hehe. The owner of Bovada is Calvin Ayre. His best friend in the cryptospace is the infamous Craig Wright the creator of Bitcoin hehehehe. It is Calvin Ayre’s money that supports BSV mining, development and the lawyers’ fees.

Calvin Ayre is also the owner of Coingeek publication.


Calvin Ayre (left), Adrian Grenier (center), Craig Wright (right)

Coingeek had a conference where they paid the actor from the HBO show Entourage to be an attraction of the conference. This is very much similar to Bitcoin Miami conference where the organizers paid Paris Hilton to attend.



"I am really interested in continuing to learn as much as I can about the utility of blockchain, improving my understanding of the benefits and opportunities, as well as how that balances against the environmental impact. I am looking forward to increasing my understanding of BSV, its ability to scale and of blockchain, at the CoinGeek Conference." – Adrian Grenier

Source https://www.prnewswire.com/news-releases/adrian-grenier-announced-as-speaker-at-coingeek-conference-301392942.html

[ChiBitCTy]

It appears none of the people who has replied in the thread read the news hehe. The owner of Bovada is Calvin Ayre. His best friend in the cryptospace is the infamous Craig Wright the creator of Bitcoin hehehehe. It is Calvin Ayre’s money that supports BSV mining, development and the lawyers’ fees.

Calvin Ayre is also the owner of Coingeek publication.



Coingeek had a conference where they paid the actor from the HBO show Entourage to be an attraction of the conference. This is very much similar to Bitcoin Miami conference where the organizers paid Paris Hilton to attend.



"I am really interested in continuing to learn as much as I can about the utility of blockchain, improving my understanding of the benefits and opportunities, as well as how that balances against the environmental impact. I am looking forward to increasing my understanding of BSV, its ability to scale and of blockchain, at the CoinGeek Conference." – Adrian Grenier

Source https://www.prnewswire.com/news-releases/adrian-grenier-announced-as-speaker-at-coingeek-conference-301392942.html

Source for Calvin being the owner?


2kings 3

[bbc.reporter]

@ChiBitCTy. It appears he has left. However, he is the founder and was the known CEO. He is very famous and has many pictures posing with young women of different countries hehehe.

Also, read your screenshot. It is saying that many believe that Calvin Ayre is the person pulling all of the strings behind Bovada and Bodog group.

[ChiBitCTy]

@ChiBitCTy. It appears he has left. However, he is the founder and was the known CEO. He is very famous and has many pictures posing with young women of different countries hehehe.

Also, read your screenshot. It is saying that many believe that Calvin Ayre is the person pulling all of the strings behind Bovada and Bodog group.

I read it, just curious if you had anything else that would somehow prove he was truly the owner. Either way makes me feel a bit greasy, as I don’t want any part of any affiliation with that dude or his buddy the great Dr Craig Wright aka Fake Satoshi.

[Smartprofit]

Makes no sense whatsoever.

Why ban BTC but not ETH? Onchain fees are now way higher with the crazy ETH gas prices.

I don't understand this move. They clearly want to take advantage of the move of most of the gambling industry towards crypto payments but this is just mind-boggling.

A very strange story ...

Bitcoin is the first and most popular cryptocurrency in the world.  It is very strange to refuse to accept deposits in bitcoins and (at the same time) continue to accept deposits in another cryptocurrency.  What could be the reason for this decision?  

I have no options ...

Bitcoin is not an anonymous cryptocurrency.  Bitcoin is a pseudo-anonymous currency.  There are numerous attempts to analyze Bitcoin transactions by third parties.  Maybe the ban is related to these circumstances?  

Bitcoin also has comparatively high fees compared to other cryptocurrencies.  

However, this is not a very compelling reason to impose a ban.

P.S.

But the presence of Craig Wright in this story explains a lot ...

[goaldigger]

They're not removing bitcoin, it seems like they're just removing the "mBTC" denomination, they're still taking bitcoin deposits and withdrawals here's a thread posted on their subreddit.

I have to say that the announcement is indeed confusing as other users also thought bovada stopped accepting bitcoin.

I'm also thinking about this one since mBTC is quiet different if you convert it into BTC so thanks for this clarification.

I just can't see why they will remove BTC as a payment option, are they being investigated by regulatory board? Anyway, there's still a lot of options on their site and BTC is still there, maybe they are just updating the system.

[delfastTions]

My anonyance is the rate at which online casinos make decisions without passing a questioner so they can get reactions from their users before making any decision. We are gradually coming to a autocratic era where casinos just jump into decision making forgetting their decisions affects their customers. There is actually no legitimate reason for this action. I'm not buying into it at all

I have always believed that anonymity is part of the general life of any person.  For example, people often hide data about their diseases, medical data and no one doubts that this is correct.  There are many reasons why a player wants to remain anonymous and this is perfectly understandable.
In this case, I think this is a requirement of the regulators who made a warning, and the casino is simply forced to do this in order to continue to exist at all, I do not think that this is due to the size of Bitcoin commissions.  
We can only be glad that devs warned users about this disgusting news many days in advance.  
There is time to look for a new casino and withdraw your deposit.

Maybe not?  If we take as a basis and believe in those new circumstances that are stated above

[Jackl87]

Logged in to my bovada account yesterday to find some unfortunate news ( as seen below ). This is very unfortunate and I just don’t understand the move at all. Allowing other crypto coins to be continued to use is what’s really puzzling to me. Anyone familiar with this?

Seems like a weird move to me as usually BTC is the first and in some cases even the only cryptocurrency that is accepted as a method of payment by many businesses. I also don't think that it is because of some new regulations or some new laws because in that case every cryptocurrency would be affected and not only BTC. My guess would be that the BTC chain is just to slow for them if they need to transfer BTC funds between multiple addresses regularly then it can be annoying if you have to wait hours for your transaction to go through.

[Wexnident]

Hmm odd. I see no need to remove it really and it's not like they're completely removing cryptocurrency as an option right? Cause if so, then I hardly doubt it's a regulation issue since it should touch upon the entire cryptocurrency stuff that they use, and not just Bitcoin. If however, they only accept Bitcoin then I guess the move they did is rather acceptable. Still I don't think it'd be that much damaging, Bitcoin is one of the options for crypto gambling but isn't really the best option, just a rather odd thing i guess.

[BitcoinAccepted]

Probably due to the legality of the Bitcoin? But that's odd that they still accept other cryptocurrency, I am not a player of Bovada but as long as other cryptocurrency is allowed I think you can easily swap the mBTC you have on your account. Do they have built in exchange on their website?

[YOSHIE]

Logged in to my bovada account yesterday to find some unfortunate news ( as seen below ). This is very unfortunate and I just don’t understand the move at all. Allowing other crypto coins to be continued to use is what’s really puzzling to me. Anyone familiar with this situation?

have heard of the Bovada gambling site, which operates in the United States and I have never played on the Bovada gambling site, I have a question for the OP.

• Do you have a balance in your Bovada account or have you contacted the admin or the team in charge of the Bovada site about the change in payment options.
• If you have a balance there, have you ever made a withdrawal of your Bitcoin assets into USD.

I see this the second case they do: Bovada Online Casino Shuts Down MatchPay Service
regarding changes to MatchPay and Bitcoin payment options.

Perhaps, the only way you can quickly solve this problem is to contact them, in this case.

[Woodie]

Maybe the removal of bitcoin to its payment options is as  a result of the drop in  bitcoin price which happened recently and also technically speaking is a lose of money on their side, so they could be trying to prevent this.

Probably due to the legality of the Bitcoin? But that's odd that they still accept other cryptocurrency, I am not a player of Bovada but as long as other cryptocurrency is allowed I think you can easily swap the mBTC you have on your account. Do they have built in exchange on their website?

But from where they are operating from thought cryptocurrencies are no enemy of the law....so i dont think this is the reason.

But are they scraping off bitcoin entirely or they will still accept deposits & withdrawals in bitcoin but not show balances in mBTC.

[Natalim]

Maybe there's a conflict on the regulatory requirements, you know the regulations change from time to time and I believe Bovada would love to continue accepting bitcoin if there's no problem with their regulators. I'm trying to find the reason online but there's no article stating about it, so we will be left speculating here.

[AicecreaME]

Logged in to my bovada account yesterday to find some unfortunate news ( as seen below ). This is very unfortunate and I just don’t understand the move at all. Allowing other crypto coins to be continued to use is what’s really puzzling to me. Anyone familiar with this situation?

This is shocking news most especially to those bovada users. I don't really see any reasons other than regulation or business issues that lead them to remove bitcoin as a payment option. I don't really think it would be because of transaction fees, because if so, then they should also remove ETH, right? Given the high transaction fee ETH has right now, being one of the top coins alongside bitcoin, this is just pure gibberish if it was the reason, but I doubt it. Maybe they have problems with bitcoin regulation? Or maybe they have personal issues they are attending to right now, and one of the possible ways they see to deal with it is to remove bitcoin temporarily.

Let's just hope it's just for the meantime only. Otherwise, users who find conflict in such sudden moves will have no choice but to change a betting site. After all, there are so many platforms to engage with. I must say that the competition amongst the betting sites is strong and close. Hence, gambling sites should always think of all the possible repercussions of their planned action before doing so, because there are customers that would be affected. If they would disregard the welfare of their customers, they might end up losing so much. A notice would surely be much appreciated most especially since this industry is connected with money.

[paxmao]

What a stupid move. Why would you remove a method of payment that is efficient, quick, safe and had already implemented in their platform that is what may cost more money at the beginning. They do not seem to have given an explanation which means that there may actually be a fault or a security hole in their implementation and this may then be a forced solution to it. Oddly enough they do accept other cryptos.

[Cling18]

They can't just remove Bitcoin as an option, most probably they are being force by the situation especially if the regulations are restricting you from using Bitcoin, this is the only reason that I see or better yet you can ask them for a reason.

Bitcoin has been an option on many crypto gambling site since then, even if the fees are quiet expensive so this is a rare move from them, hopefully, they give an update with regards to this one.

I'm sure that they're doing it for a reason. It's either they're affected by the regulation or having a hard time dealing with high gas fees. Whatever it is, I don't think it would affect Bitcoin negatively but it would rather affect their site especially if they have a huge number of Bitcoin users.

[Obito]

What a stupid move. Why would you remove a method of payment that is efficient, quick, safe and had already implemented in their platform that is what may cost more money at the beginning. They do not seem to have given an explanation which means that there may actually be a fault or a security hole in their implementation and this may then be a forced solution to it. Oddly enough they do accept other cryptos.

They probably don't like losing so much bitcoin out of their pockets especially right now that the prices are going high and at the same time the prices are hovering at values that's really significant and has no sign of going down much further than that. I think it's actually a good thing, gamblers won't waste their bitcoin and can hold on to it much longer.