[2014-04-08] 50 to 60% of Bitcoin transactions made on gambling sites

[aliceHortrex]

“Really, you see Bitcoin as not just a tool for freedom of speech but for allowing people to spend their money where they want to so the government can no longer dictate where they can and can’t put their money.”

http://cointelegraph.com/post/50_to_60_of_bitcoin_transactions_made_on_gambling_sites#.U0PIePl_tqV

[odolvlobo]

The title is exaggerated. At one point in the show, one of the persons interviewed said (without citing any sources),

I think 50 to 60% of all Bitcoin transactions are actually made within these gambling sites.

[freedomno1]

The title is exaggerated. At one point in the show, one of the persons interviewed said (without citing any sources),

I think 50 to 60% of all Bitcoin transactions are actually made within these gambling sites.

I sort of agree then again the source is The Stossel Show, which airs on the Fox Business Network
That said not really sure if it up that high still at one point in time it was though
“I think 50 to 60% of all Bitcoin transactions are actually made within these gambling sites,” she said.

[bryant.coleman]

This is actually good news, if it is true. Some people are claiming that most of the Bitcoins are used for buying illegal drugs. If more than half of them are in fact used for gambling, then it is clear that the former argument is false.

[kjlimo]

This is actually good news, if it is true. Some people are claiming that most of the Bitcoins are used for buying illegal drugs. If more than half of them are in fact used for gambling, then it is clear that the former argument is false.

That's probably only "good" if it's legal gambling going on...

[hilariousandco]

50 to 60% seems a bit high and without any valid sources I'm assuming there's no weight to it.

This is actually good news, if it is true. Some people are claiming that most of the Bitcoins are used for buying illegal drugs. If more than half of them are in fact used for gambling, then it is clear that the former argument is false.

That's probably only "good" if it's legal gambling going on...

Is any Bitcoin gambling illegal?

[keithers]

If this percentage is really true, then it is only a matter of time for the US government to use this against us...

[Bit_Happy]

50 to 60% seems a bit high and without any valid sources I'm assuming there's no weight to it.

This is actually good news, if it is true. Some people are claiming that most of the Bitcoins are used for buying illegal drugs. If more than half of them are in fact used for gambling, then it is clear that the former argument is false.

That's probably only "good" if it's legal gambling going on...

Is any Bitcoin gambling illegal?

Grey area in the USA, but getting darker as the Gov moves in all around Bitcoin land.

[bryant.coleman]

That's probably only "good" if it's legal gambling going on...

Legal or not, spending BTCs (and losing them) in gambling, is much more politically correct than using them to buy crack cocaine from Silk Road 2.0.

[Bit_Happy]

That's probably only "good" if it's legal gambling going on...

Legal or not, spending BTCs (and losing them) in gambling, is much more politically correct than using them to buy crack cocaine from Silk Road 2.0.

Why does politically correct matter to any free-thinking person?

[freedomno1]

That's probably only "good" if it's legal gambling going on...

Legal or not, spending BTCs (and losing them) in gambling, is much more politically correct than using them to buy crack cocaine from Silk Road 2.0.

Off shot well 50-60% or not sometimes the Bitcoins go towards other things like Violins
https://bitcointalk.org/index.php?topic=561317.0

That said it does make me curious what is the percentage going to gambling versus exchanges etc, although I guess it is easy enough to tag the ones with public notes

[meawleir21]

I think the real amount is 10-20% and the darkweb has about 10-20% as well, the other are for the other things. holding has the majority in my opinion.

[bryant.coleman]

Why does politically correct matter to any free-thinking person?

It is not for us. But for the 90% of the population who don't have the ability to do free-thinking.