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

[borovichok]

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.


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?

Russia is ready to develop a new global reserve currency alongside China and other BRICS nations

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[romero121]

Everything is a cyclic process. People always realise the importance later, atleast the usage have come around earlier. Because, the circulation through gambling have helped the bitcoin market progress and have some real-time usage. Though it is looked as a token developed for gambling needs and illegal transactions, the transition it have come through is really big and not all innovation were able to reach such a status in its short time period.

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

[BITCOINDENMARK]

$ backed by Bitcoin will be as big as finding bitcoin in 2010

[Mr.suevie]

Everything is a cyclic process. People always realise the importance later, atleast the usage have come around earlier. Because, the circulation through gambling have helped the bitcoin market progress and have some real-time usage. Though it is looked as a token developed for gambling needs and illegal transactions, the transition it have come through is really big and not all innovation were able to reach such a status in its short time period.

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

A prophecy or vision that has come to realization, the funny truth about Wild thought and ideas is that its always starts off as nothing or something thats seem impossible to achieve but hardwork and persistence pave way to massive and good results just like the way the dream of satoshi to open way to folks on how they can be the banks to their money started as nothing but now the adoption of crypto to the us dollar is growing like wild fire especially now that the banks have continued failing. If there is any means growing any stuff to a rapid growth , i think gambling is one of those means although i wont accredited the massive growth of bitcoin to gambling but atleast it played a major role and today many people are enjoying this advantage, well there isnt a casino yet in my place thats accept bitcoin as a means of payment and thats because of the crypto ban in my region but i believe like you stated its  only a matter of time and bitcoin will definitely stand as the number 1 currency and it would be accepted by the government in areas that have shy away from it.

[SamReomo]

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?

I think it's not going to happen anytime soon. Bitcoin is still struggling in US economy because of some so-called experts who think that Bitcoin could be the cause of US Dollar devaluation. But in future there are some chances that United States and other countries are going to accept bitcoin as a secondary tradeable currency to fiat.

If all countries of the world accept Bitcoin as a legally tradable currency then things will be different in crypto world. The volatility of Bitcoin will not remain the same and it will be treated as an asset just like gold.

[Poker Player]

$ backed by Bitcoin will be as big as finding bitcoin in 2010

That is not going to happen in the near future. Central banks have an easier time backing it by gold and are not doing so although China is rumored to be planning to do so. Bitcoin is too volatile as of today for it to serve as a backing.

What would not surprise me at all is if some countries decide to start mining Bitcoin. I think that will happen before they dedicate to back the currency in it, if that ever happens.
These are ideas that might seem far-fetched to many people today, but how gambling with Bitcoin might have seemed 13 years ago, and we see how important it has been in the history of Bitcoin.

[Sarah Azhari]

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?

lots of limitations to use that currency (dollar) is one cause that someone creates an independent currency like bitcoin. We certainly already understand the weakness of the Dollar, so no need to debate it anymore. So if we talk about the dollar backed by bitcoin, I think its mission is impossible for the next exact 10-20 years, it could happen in a hundred years when our grandchild inherits all our bitcoins.

1 important think is only if world war 3 does not occur, because when happens the Internet and electronics has shut down because of EMP (electromagnetic pulse), and maybe take decades or hundreds of years to build the world again like today.

[electronicash]

Jimbo's idea is widely adopted now that even altcoins are also used to bet. he could be one of those users wanting to gamble using fiat but also encountered problems or seek anonymity.

i have no idea when BTC started to be used in online casino, BTC was always been associated as gambling coin for those that opposed its existence.

[Lorence.xD]

I like how every known project was started with sound like silly idea. Its like the time that people doesn't even know the power of social media back then such as Facebook, Twitter and Youtube. There's a lot of opportunity that it gives right now but back then they aren't used that much yet. Just like the Bitcoin, he's idea might sound silly but if you look forward right now its successfully adapted by people to use Bitcoin as transactions. It's much convenient to use Bitcoin as payments online and also less fee, if you think of it before with its value then totally people wouldn't buy it. His idea for sure gave an impact to the market of Bitcoin as many users use BTC for many transactions, he's actually genius for that.

[borovichok]

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

Yeah, because it provides far more than a fiat gaming platform, such as more control over deposits and withdrawals, accessibility from anywhere in the world, reduced transaction deposit/withdrawal fees, and, most importantly, anonymity.

$ backed by Bitcoin will be as big as finding bitcoin in 2010

That is not going to happen in the near future. Central banks have an easier time backing it by gold and are not doing so although China is rumored to be planning to do so. Bitcoin is too volatile as of today for it to serve as a backing.

What would not surprise me at all is if some countries decide to start mining Bitcoin. I think that will happen before they dedicate to back the currency in it, if that ever happens.
These are ideas that might seem far-fetched to many people today, but how gambling with Bitcoin might have seemed 13 years ago, and we see how important it has been in the history of Bitcoin.

With the potentials that bitcoin possesses, I've learned never to say never. It may not happen now or in the near future, but never use the word Never in the same sentence with Bitcoin. With the latest developments going on with the US Dollar, the only way out may be BTC.

i have no idea when BTC started to be used in online casino, BTC was always been associated as gambling coin for those that opposed its existence.

Started around late 2013 by SatoshiDice, which was launched in 2012 and allowed users to bet with Bitcoin on a simple dice game.

[davis196]

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?

US dollar backed by BTC? Not going to happen. The US dollar isn't backed by faith. It's backed by the US army and the CIA. It's backed by the fear of the USA(the so called "deep state"). There's no need to back the US dollar by any financial asset, because this way the FED money printing machine won't be limited by anyone and anything.
Anyway, 13 years ago this guy made the right prediction that Bitcoin is going to be widely adopted by the gamblers. It's funny that he asked for donations. I guess that begging for BTC donations wasn't banned on Bitcointalk back in 2010.

[hZti]

It’s not the point if bitcoin will someday be a guarantee for the usd. A currency lives when it is trusted and is used. Bitcoin does develop both of that more and more the longer it exists, so there is more the potential that at some point it will simply surpass the usd. I suspekt this surpassing will however not be liked by everyone.

[Obito]

It’s not the point if bitcoin will someday be a guarantee for the usd. A currency lives when it is trusted and is used. Bitcoin does develop both of that more and more the longer it exists, so there is more the potential that at some point it will simply surpass the usd. I suspekt this surpassing will however not be liked by everyone.

That's just one part of the equation, trusted doesn't mean that the government will make the trust legitimate. I could agree with your second statement though, time is on bitcoin's side but I still have reservations about it surpassing USD, maybe if USD becomes less powerful in terms of global trade due to more countries trying to get out of the USD as reserve currency game.

[Rruchi man]

I hope Jimboway is still living to see what he recommended 13 years ago come to reality.

There are a few dreamers that believe in the power of the future, Jimboway and most members of this forum are an example.

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.

It is good that Bogdog.com evolved with time and began accepting bitcoins and cryptocurrency.

Some companies have failed and gone out of business mainly because they refused to rebrand, repackaged and evolve with some important trends, so their profit reduced and they went out of business, over shadowed by the presence of new businesses with trend.

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?

May sound ridiculous to some still, but I believe in the future.

[Kakmakr]

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 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. 

[Gianluca95]

It is really emotional to see how many road bitcoin has made since its creation ! Today we consider Bitcoin "normally accepted" in a gambling casino but 13 years ago this was something of impossible ! 

Anyway, if this has happened, we should be thankful with PrimeDice, this was the first company mainstream to accept Bitcoin as the only payment method. (I remember about their signature campaign, that was beautiful

days  ). Hope that in the future, the other casino mainstream (such as bet365, ecc.) will accept Bitcoin as currency for deposit and withdrawal.

[mindrust]

Bitcoin will never die for this exact use case. There simply isn't a better currency for the gamblers. And this use case gets even better if the casino is decentralized or  KYC-free like freebitco.in. Gambling is bad, gambling makes people poor bla bla bla. Nobody cares. Drinking beer and smoking cigs is bad too but millions of people do it every day. Since these people will never go away, gambling will also be here as long as the humanity exists and most of them will be using bitcoin instead of USD because the US government is a whiny little bitch. Bitcoin don't bitch.

[Darker45]

Gambling was one of the earliest use-cases of Bitcoin. The decent amount of privacy that Bitcoin provided to its users somehow addressed the hassles that characterized fiat deposits on gambling sites. Today, crypto gambling has grown thousands of fold. I suppose the daily aggregate amount processed by all kinds of crypto gambling sites, whether sports betting or casino or dice only, is already in the hundreds of millions, if not a billion.

So what may seem today as impossible may happen in the future. Who knows, Bitcoin might indeed become a reserve currency one day?

[kryptqnick]

Gambling with Bitcoin has been huge for a long time now, but it's truly wonderful to come back to posts like this and remember that such things some from people who at some point dared imagine a what-if scenario, and then they and/or others started making it real, working to implement an image of what's possible.
Still, I don't think the wider implications made by the op hold. Bitcoin won't become a base for dollar's value any time soon, I agree on that point with some others in the thread. As for China and Russia, it's been thankfully almost a year since that announcement, and I don't see anything that's come out of it so far. The USD is still strong enough to attract international attention without turning to cryptos, and maybe turning to Bitcoin would actually diminish its strength in the eyes of many countries that currently have faith in the USD precisely because they know that Bitcoin is not something under a superpower's control and can be very volatile.

[Baofeng]

He was a fortune teller, hehehe. But I do agree that gambling with bitcoin is the best use case. And if I'm not mistaken, (I don't have the numbers), but I will assume that majority of us have gambled our Bitcoin one time or another, more than using it as a payment method.

And I don't think that it's bad, it's not there growth of gambling is really massive in the last 5 years or so.

Just look at the current signature campaigns, still dominated by crypto based gambling platforms (Stake, Sportsbet, Duelbits, Rollbit, Roobet and others).

The trend will continue in the next 10 years or so.