Bitcoin and Gambling 13 years later..........

[S A KHAIR]

There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?

Currently, all countries' currencies are backed by their governments, the economy determines the value of the currency, today's currencies are not backed by any assets even gold. So, thinking about the prospect of bitcoin supporting USD is a myth. Bitcoin will become a scarce asset like gold and will become an asset in the national budget is possible.

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[so98nn]

That’s classic example of how not to stop worrying about bitcoin and just keep imagining that one day it will be part of global monetary system. Imagine slowly every malls, cinemas, street vendors to any damn big thing we can imagine will have bitcoin acceptance one day.

I am not saying it is an overdo, but pictured it in future same results would come out. Most importantly why not? It has all the possibility of integrations. It’s open source, plus it’s pressuring government in all the ways possible. So they will have way out which will let bitcoin inject in the system. Cool isn’t it.

[Davidvictorson]

There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?

Yes, it actually sounds pretty ridiculous. It may or it may nor happen but we will see. And for this to happened bitcoin will first bow to the pressure of government regulation and would pass through the fire of a legal frame work. Meaning that at that time we would see more of a less volatile market before it is used to back the US Dollar. Wouldn't this defeat the purpose of which Satoshi Nakamoto conceptualized bitcoin in their White Paper?

[Z390]

There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?

Currently, all countries' currencies are backed by their governments, the economy determines the value of the currency, today's currencies are not backed by any assets even gold. So, thinking about the prospect of bitcoin supporting USD is a myth. Bitcoin will become a scarce asset like gold and will become an asset in the national budget is possible.

Gold is not a threat to the government because Gold is just Gold, no central or decentralize battle here, I think that the US government is acting stupidity right now, Bitcoin seem like the only thing that can help the US dollars right now, if another country grab this one time opportunity, the US dollar might face a new bag beginning and lose it's value, I have no worries about Bitcoin because this is the only digital asset that will be fine on the long haul whether a country's currency is friendly to BTC or not.

[Renampun]

13 years ago, having a bitcoin on a casino site as a deposit method was only a pipe dream; I'm sure a lot of effort was put in during that time by certain users here on the forum; some of those contacted gambling companies are now out of business, but Bitcoin never stop running. Bogdog.com was a well-known fiat casino back then, and they are now one of the largest that accepts bitcoin and cryptocurrency as payment. I hope Jimboway is still living to see what he recommended 13 years ago come to reality.

It sounded ridiculous 13 years ago when he came up with the ideal because few people believed Bitcoin would be this big back in 2010.

this is something new I know, @jimbobway, if you are still alive, the idea you wrote, has changed the current online gambling, depositing or withdrawing with bitcoin is a brilliant idea.

There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
...

USA uses gold as a backup dollar because gold has a strong influence on the economy and price resilience ( for now) because many people like it, someday maybe that day will come > USA uses bitcoin as a backup dollar. (because the influence of bitcoin is bigger and stronger than gold and the amount cannot be added or subtracted)

[DevilSlayer]

That guy has a great vision, he find a problem and he eventually finds a solution and it is by integrating bitcoin in different online gambling site, I think majority of the online gambling site have a way in order for you to deposit bitcoins in their wallet. Gamblers nowadays prefering to gamble using bitcoin because of security and safety wherein financial institutions cannot track their transaction history. They also prefer it because of its conveniency wherein you can deposit anytime and anywhere you want unlike before you need to setup your credit or debit card info and ther are a lot of things that you need to fill up just to deposit money on a certain gambling wallet. As for the guy who predicted an exact thing, I'm sure he is now a rich man because his vision is different from everyone else. Probably he really contacted a lot of gambling site in the past to integrate bitcoin in their system.

[Casdinyard]

Funny that you mentioned that the dollar is backed by faith when bitcoin is no different. For all these years we have been basing bitcoin's price and uptrend to whether other people will start cashing in on the cryptocurrency, which is pretty much textbook backed by faith currency. The best case scenario we could achieve in the future is bitcoin achieving a digital representation with a valuation that is stable enough. Or we could akso retain bitcoin's highly volatile nature and rake profits from the pumps and dumps. Ultimately the dollar is bound to fail looking at the current situation. What happens after this, we can't be for sure.

[Wakate]

This look like dream come to pass for op who had initiated the use of Bitcoin by casinos so that the adoption of Bitcoin would spread around the world. It is very obvious that many casinos now are now diverting to the use of cryptocurrency which is mostly preferred by gamblers because the process is very easy and does not involve any third parties to be involved for the transaction to be complete.
 I believe there are so many persons too that push to the fast adoption of Bitcoin through gambling and other activities. Now the numbers of gambling crypto casinos are increasing everyday.

[Aikidoka]

Yea, I remember a time when the only places you could gamble with Bitcoin was something like SatoshiDice AND Freebitco.in (dice only) and Bustabit and PrimeDice. There were some smaller sites, but most of them turned scam ... so it turned a lot of people against Bitcoin.

I remember those gambling platform but my favorite one back then was Directbet and I think it was owned by this member here. They used to place free bet every week in sports and I used to gamble on their site too, it was really easy and you don't even need an account to gamble, just set up your games and send bitcoin to it and once you win you'll receive your gain on your address!

I think gambling was one of the pioneer driving forces behind Bitcoin and pseudo anonymity was 100% required by the gambling community, because Bitcoin use was illegal back then. 

Bitcoin makes gambling easier and more accessible to anyone without restrictions so far. Unlike fiat gambling sites that require document verifications before starting to gamble but crypto gambling does not require any documentation, making it available to anyone.

[Ojima-ojo]

This is an incredible thread that reminds us of how small ideas can really turn out to become something big that the whole world will benefit from, the whole Bitcoin idea and its adoption in various spheres of life have been a misery because some years ago no one believes that bitcoin will reach global preeminence such as it has in current time.

The gambling industry has become one of the major players in bitcoin transactions and their hike and dominance become evident during the pandemic when there was a lockdown and enforcement of social distancing, this push many to adopt online gambling and bitcoin and other cryptocurrency become the most used payment method.

[acroman08]

I wonder if he thought back then that the Idea of Bitcoin being used for gambling would become as big as it is today.

I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?

could happen(I mean there is always a possibility) but most likely not. I doubt the US would let their precious dollar be backed by a decentralized currency.