Do you think gambling played a bigger role in Bitcoin adoption?

[Cryptomultiplier]

I believe that in the early years of Bitcoin creation gambling helped in it's adoption then because fewer businesses accepts it but presently what is moving Bitcoin adoption is profit, people see it as a valuable asset. Although we can't deny that cryptocurrency has made many people to go into online gambling because it is very convenient, they don't need to use fiat or transfer through banks to fund their gambling accounts. I think casinos are benefiting more from cryptocurrency because many crypto holders finds it convenient to spend their coins in gambling sites.

I find  it also more convenient to use any coins on my hot wallet to gamble. It hits differently and even when I win big sometimes, I consider it money that should be left there for further gamble while I push some substantial enough to my cold wallet.

I would agree that gambling with crypto currency helped some of us have a real world use case value for crypto currency besides spending it on just for payments after completing a transaction online.

Although we can't conclude that using cryptocurrency for gambling is what is responsible for adoption but we should consider the original drivers of Bitcoin and crypto currencies market of which includes scarcity, institutional investment and the fact that it is known a digital gold, because it is a great hedge against a deflating fiat currency.

[Lanatsa]

What is your observation so far and do you think the trend will hit other industries that are still slow on Bitcoin adoption?

well, what is happening is just same as saying if you tap my back, i will tap your back and at the end of the day, it becomes a win win situation for both of us. their is no way you talk talk about the reach of bitcoin to the large populace of people without considering that casinos and the gambling industry has play her own part. take the forum for instance, the reason why the forum is still booming with hundreds of people joining the forum on a weekly bases is partly because people want to get involved in bitcoin and also partly because through the signature campaign that some casinos are coming up with, people now see the possibility of them earning in crypto and that way the casino gains in their own way and the crypto niche also gains in their own way.

gambling has led to an increased number of crypto users but through crypto, it has become even more possible to access some gambling platforms that ordinarily you could never think of having access to.

The gambling and casino industry has indeed been one of the biggest entry points for new bitcoin users the relationship between both sectors is symbiotic and each helps the other grow casinos gain international reach and easier payment processing while bitcoin gains wider usage visibility and transactional volume gambling sites adopting bitcoin have shown that crypto can work in real life scenarios beyond just trading or speculation this use case gives people confidence to use it as a real medium of exchange.

The same trend can easily expand to other industries that rely on global transactions or have issues with payment restrictions sectors like gaming freelance work online entertainment travel and even digital art marketplaces are slowly catching on to bitcoin adoption once businesses realize that crypto reduces fees speeds up payments and removes borders they begin to see its potential. Right now industries that are slower to adopt are simply waiting for more regulatory clarity or for customer demand to reach a tipping point but it’s only a matter of time as awareness grows and more people prefer decentralized transactions the trend will hit every major sector eventually especially those that rely heavily on online operations bitcoin may have started with gambling and trading but its reach is gradually moving into mainstream business.

[YOSHIE]

Do you think gambling played a bigger role in Bitcoin adoption?

In observations so far, many fiat-based online casinos are switching to deposits/withdrawals of Bitcoin or other types of crypto, in this kind of situation we can understand that the turnover of Bitcoin in gambling sites is much greater than other websites, From the data we can see, Bitcoin transactions on just one gambling site can reach millions, just imagine if this happened to at least 100 gambling sites every day, yes, perhaps the biggest adoption of Bitcoin is on gambling sites.

We understand that Bitcoin is one of the easiest digital currencies to access when making deposits or withdrawals, especially for online gambling sites.

[348Judah]

Yes, gambling does a lot in contributing to bitcoin adoption, we can see how gamblers are into cryptocurrency and uses bitcoin to gamble, some that have been gambling over they ears before bitcoin was introduced also set to determine in using bitcoin for this same purpose, because a large number of gambling platforms already supported the use of bitcoin for gambling, which makes it more easier and affordable that everyone into gambling could easily use this opportunity to afford buying bitcoin or know about it.

[palle11]

So many challenges we faced then because their was no other alternative we can use to make fast deposits on foreign casinos but since the emergence of Bitcoin, life has been pretty good, influencing vast rising of crypto casinos.

What is your observation so far and do you think the trend will hit other industries that are still slow on Bitcoin adoption?

This is clear and not misdirected. What you pointed out is very right. Back then, only the thought of converting to dollar was tiring and again there's one thing about that conversion, it makes you feel you are cheated when you seen the "large" deposit you transferred reflecting as very few dollars in your wallet balance, you just feel bad and disappointed. I don't know if that is even where the loses begins from  . Then I can't say if the fees were quite higher than now when compared to crypto charges but it was quite outrageous.

The creation of bitcoin as the principal cryptocurrency has made casinos easier to access. Now there is no payment restrictions, you must have a payment method that is acceptable, accessible and used in your country in all casinos, unlike in the past when it was either dollar majorly.

[tsaroz]

Yes, gambling was a great contribute. I remember back in time how much people complained about depositing and withdrawing from gambling websites and banks and wallet services restricting and freezing the account for just using a gambling site. Later there was a wallet which was more friendly towards gambling, Skrill but later Skrill itself was mostly blacklisted by many banks.
When people started transacting bitcoin, it was immediately used for gambling. Even though it took traditional gambling sites much time to adopt crypto, there were native crypto gambling sites that kept improving, competing to the traditional gambling sites.
There were also some stats that suggested in 2012-14 more than half of all transactions in bitcoin network were happening for satoshidice, one of the earliest bitcoin gambling platform.

[Fiatless]

Yes, gambling was a great contribute. I remember back in time how much people complained about depositing and withdrawing from gambling websites and banks and wallet services restricting and freezing the account for just using a gambling site. Later there was a wallet which was more friendly towards gambling, Skrill but later Skrill itself was mostly blacklisted by many banks.
When people started transacting bitcoin, it was immediately used for gambling. Even though it took traditional gambling sites much time to adopt crypto, there were native crypto gambling sites that kept improving, competing to the traditional gambling sites.
There were also some stats that suggested in 2012-14 more than half of all transactions in bitcoin network were happening for satoshidice, one of the earliest bitcoin gambling platform.

You just gave a brief yet enlightening historical account of Bitcoin use for gambling. It shows how Bitcoin transformed from a currency that was blacklisted by banks to a reserve currency. There was a post I read on this forum and many users commented how they lost most of their Bitcoin in gambling. I guess they most of them didint believe that the coin will ever recieve mainstream acceptance.

[Apocollapse]

Yeah some people discover Bitcoin from gambling, so it's not surprising why we see many online casinos are accepting Bitcoin.

Online casinos do give big effect regardless the gamblers continue to gamble or quit, but they make Bitcoin to be used as a currency and make the adoption getting bigger. Imagine if the casinos and games didn't accept Bitcoin, people might afraid to use Bitcoin as a currency.

[Su-asa]

Yeah some people discover Bitcoin from gambling, so it's not surprising why we see many online casinos are accepting Bitcoin.

Online casinos do give big effect regardless the gamblers continue to gamble or quit, but they make Bitcoin to be used as a currency and make the adoption getting bigger. Imagine if the casinos and games didn't accept Bitcoin, people might afraid to use Bitcoin as a currency.

Actually the rate at which crypto casinos are adding up thesedays can really say a lot of the the question which op is asking. As for me not that I knew about crypto currency through gambling but there are some folks that know about crypto currency through crypto casinos. As a matter of fact t, since there's a lot of crypto casinos in the world of today, shows that crypto casino's has helped many people know about crypto currency.

[Smartprofit]

I've written repeatedly that I consider Bitcoin a protocol for transferring value in virtual space. Let me explain this concept in detail...🙋

Around the year 2000 (that is, in the new millennium or new century, depending on your preference), virtual space emerged. Completely unexpectedly... Although some science fiction writers predicted the emergence of virtual space. Essentially, it is a supranational entity, as citizens of many countries participated in its creation. Of course, we are now seeing the opposite trend: states are trying to "nationalize" virtual space, take it under their control, and establish strict regulatory rules. However, this does not change the very essence of this space. At its core, it recognizes neither nationalities nor states.

As a protocol for transferring value in virtual space, Bitcoin is a particularly good solution for facilitating payments within international internet platforms. A classic online casino is precisely such an internet platform.  Online casino users from all over the world are united by a common passion (namely, gambling)...

I believe that, just as Bitcoin has had a significant impact on the gambling market, gambling itself has undoubtedly contributed to Bitcoin's rise in popularity. It's an interconnected process. It works both ways. 🎊

[Hispo]

Yeah some people discover Bitcoin from gambling, so it's not surprising why we see many online casinos are accepting Bitcoin.

Actually, I would go even further and say gambling gave the initial liquidity and adoption Bitcoin needed in order to become a successful coin on the internet and not to fade into obscurity as a failed project, some people (including me) would say gambling is the reason Bitcoin managed to get where it stands today as one of the most important descentralizad assets of the planet.
Now we are in a time where casinos are more common and more people are getting engaged into gambling, that means satoshis will have further demand now and in the future and gambling will continue to contribute to liquidity and life of Bitcoin as a coin and also as a casino chip (for those who enjoy to risk their money).

[xenomorfo]

The gambling and casino industry has indeed been one of the biggest entry points for new bitcoin users the relationship between both sectors is symbiotic and each helps the other grow casinos gain international reach and easier payment processing while bitcoin gains wider usage visibility and transactional volume gambling sites adopting bitcoin have shown that crypto can work in real life scenarios beyond just trading or speculation this use case gives people confidence to use it as a real medium of exchange.

The same trend can easily expand to other industries that rely on global transactions or have issues with payment restrictions sectors like gaming freelance work online entertainment travel and even digital art marketplaces are slowly catching on to bitcoin adoption once businesses realize that crypto reduces fees speeds up payments and removes borders they begin to see its potential. Right now industries that are slower to adopt are simply waiting for more regulatory clarity or for customer demand to reach a tipping point but it?s only a matter of time as awareness grows and more people prefer decentralized transactions the trend will hit every major sector eventually especially those that rely heavily on online operations bitcoin may have started with gambling and trading but its reach is gradually moving into mainstream business.

that one for sure
I honestly think it is better to use and spend cryptocurrencies rather than keep them stored somewhere where it makes no sense to keep them, cryptocurrencies were used to be used and obviously the king of cryptocurrencies should also be used

Bitcoin grows any type of business, in my opinion not just casinos.
It encourages accumulation and spending and no one can stop you from doing so.

[Dr.Bitcoin_Strange]

Yeah some people discover Bitcoin from gambling, so it's not surprising why we see many online casinos are accepting Bitcoin.

Online casinos do give big effect regardless the gamblers continue to gamble or quit, but they make Bitcoin to be used as a currency and make the adoption getting bigger. Imagine if the casinos and games didn't accept Bitcoin, people might afraid to use Bitcoin as a currency.

That's true, anyone that knows the full details of the history would agree that online casinos played big role in Bitcoin adoption too, even up till now, the adoption of Bitcoin by online casino is still a promotion for Bitcoin which is still why some gamblers were able to buy Bitcoin and used it for gambling, after which they had realized that the coin is also an asset that is worth holding.

[Guccho]

Yeah some people discover Bitcoin from gambling, so it's not surprising why we see many online casinos are accepting Bitcoin.

Online casinos do give big effect regardless the gamblers continue to gamble or quit, but they make Bitcoin to be used as a currency and make the adoption getting bigger. Imagine if the casinos and games didn't accept Bitcoin, people might afraid to use Bitcoin as a currency.

Actually the rate at which crypto casinos are adding up thesedays can really say a lot of the the question which op is asking. As for me not that I knew about crypto currency through gambling but there are some folks that know about crypto currency through crypto casinos. As a matter of fact t, since there's a lot of crypto casinos in the world of today, shows that crypto casino's has helped many people know about crypto currency.

In my opinion, it is quite natural that many people first get to know Bitcoin through gambling, online casinos are accepting Bitcoin mainly because it offers fast transactions, low fees and helps attract players from anywhere in the world. As a result Bitcoin is also gaining popularity, Personally I think crypto casinos have increased Bitcoin adoption but it also requires people to be more responsible. Because when the excitement of gambling and the fast transactions of crypto are combined, it is very easy to lose control. However the truth is that many people today first hear the name Bitcoin through casinos and this shows how much acceptance has increased.

[Muba20]

We are already in the trend of crypto casinos and we have been seeing majoriry of fiat based casinos now accepting Bitcoin to attract gamblers that love gambling with cryptocurrency.

People's interest in Bitcoin is increasing and this trend will continue in the future. Those who know about Bitcoin are becoming interested in using Bitcoin. Not only as a gambling platform but also in various financial aspects of the business, the use of Bitcoin will increase further. I have gambled with Bitcoin to keep myself anonymous and am still doing so. Although it took me a long time to deposit with fiat, it is very easy to do so with Bitcoin. Currently, various gambling platforms operated by fiat are accepting Bitcoin and other cryptos, they understand that there will be more adoption of Bitcoin and other cryptocurrencies in the future.

[Altryist]

We are already in the trend of crypto casinos and we have been seeing majoriry of fiat based casinos now accepting Bitcoin to attract gamblers that love gambling with cryptocurrency.

Before the launch of Bitcoin many years back, it was difficult for me to gamble on some casinos back then because of so many restrictions due to currency conversion and bank not supporting the mode of transaction i was meant to use in making deposits on the casino I love to use then. Apart from that, sometimes you will have to wait for several hours before the casino will finally confirm my deposit.

So many challenges we faced then because their was no other alternative we can use to make fast deposits on foreign casinos but since the emergence of Bitcoin, life has been pretty good, influencing vast rising of crypto casinos.

What is your observation so far and do you think the trend will hit other industries that are still slow on Bitcoin adoption?

I think you're right, adoption has had a significant impact on casinos, and it's quite possible it will impact other industries in the future as well. However, I'm not yet sure how widespread its application will be for everyday spending, such as grocery shopping or paying for services. I'm currently more inclined to believe that Bitcoin will be seen as an investment asset in the future, one that will be considered as important as gold.

[mikel_012]

Yes. Gambling and inflation played a big role with bitcoin. People from the good first world don't have many issues with payments so they only saw bitcoin as a investment while other countries like Venezuela need bitcoin as a method to not lose all their money with inflation

Same can be said with gambling since many countries don't let you do payments to gambling websites with paypal or credit cards. With bitcoin you don't need permission so anyone can use it easily to deposit and withdraw.

[Antotena]

People's interest in Bitcoin is increasing and this trend will continue in the future. Those who know about Bitcoin are becoming interested in using Bitcoin. Not only as a gambling platform but also in various financial aspects of the business, the use of Bitcoin will increase further. I have gambled with Bitcoin to keep myself anonymous and am still doing so. Although it took me a long time to deposit with fiat, it is very easy to do so with Bitcoin. Currently, various gambling platforms operated by fiat are accepting Bitcoin and other cryptos, they understand that there will be more adoption of Bitcoin and other cryptocurrencies in the future.

I'm seeing different kind of gambling now, they call it prediction market. I don't know where crypto is growing into different things. I can say that any casino that you can see in this forum to say priority stand with crypto deposit, they make have other mean for funding but the majority of Bitcoin and some other Altcoins deposit but Bitcoin comes before any. Some casino based account balance of users to Bitcoin or usd, that shows how important Bitcoin is to gambling.

But I think adoption of Bitcoin with gambling isn't as big as what other things Bitcoin has achieved. The amount of Bitcoin institutional investors has bought this year is more than half of the Bitcoin casino companies are holding. If casino are having big reserve of Bitcoin under their custody, may be chain analyst will be having public address tracking those wallet but they don't have much, all attentions are on centralized exchange hot wallets and institutional investors wallet.

[tabas]

because a large number of gambling platforms already supported the use of bitcoin for gambling, which makes it more easier and affordable that everyone into gambling could easily use this opportunity to afford buying bitcoin or know about it.

They were one of the key reasons why adoption of bitcoin has grown during the early days. We cannot deny how helpful they were with the adoption because it's one of the uses of bitcoin that has kept the casinos operation because they were one of the first ones to believe in it. If there were not so much bitcoin casinos during that time, many probably have doubted bitcoin if it has a significant monetary value. But because of them, it has encouraged everyone who owns it and even the speculators that they mean business about it.

[DYOR+BTC]

I believe that, just as Bitcoin has had a significant impact on the gambling market, gambling itself has undoubtedly contributed to Bitcoin's rise in popularity. It's an interconnected process. It works both ways. 🎊

Yes they both work hand in hand with each other, contributing to each others constant patronage on daily basis. Although the impact of bitcoin in the gambling world is transformative because of the enhanced, faster, effective and transparent  transactions system that stands as a major boast in the gambling industry which is possible as a result of the decentralized system of bitcoin.
The same way bitcoin is contributing to the gambling industry so also is gambling doing to that of bitcoin, because of the faster and effective transaction bitcoin could offer to gambling, the need for the introduction of bitcoin was made clear which gave room for the spread of bitcoin knowledge to all gamblers that lead to increase in bitcoin investment and generating more profit to the bitcoin world.