A cryptocurrency entirely dedicated to GAMBLING? - page 5.

aioc

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

Back then when you posted this, there is no Cryptocurrencies that are dedicated to gambling, but right now, there are coins like Eos and Tron that are dedicated to gambling, but it's better for gambling sites that they can and willing to accept as many coins as possible, to make their site competitive and popular among coin holders.

sunsilk

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Quote from: Vaculin on September 24, 2019, 05:51:57 PM

Quote from: sunsilk on September 24, 2019, 05:24:00 PM

Quote from: thisappointed on September 24, 2019, 12:08:28 PM

I there are already cryptocurrencies that are been using in the gambling sites

Yes, like the projects that are coming out now. They are making their casino with the token that they are also using to fund their business.

That kind of strategy is not proven successful, most of the successful casinos now are just using the traditional style where they accept major coins and altcoins. Maybe gamblers are not trusting too much on gambling sites that use their altcoins because anytime the value could drop since their liquidity is not that good, unlike with BTC and ETH where you can trade them at any trading sites in the space.

This is the list of gambling sites that uses ICO, I'm familiar with some of them but I know they are smaller compared to the popular gambling sites here accepting bitcoin and altcoins.

https://www.katiewager.com/gambling-tokens.html

Yes I know that the chance of being successful isn't that high. Most of the gamblers still prefer to gamble with bitcoin or the established altcoins that we have already.

I'm familiar with few of them and most of those on the list, it's the first time that I've seen them. I'm not surprised though because there were projects that I've seen before that's not on the list. And this is considered to be the top of most and I think there should be an updated version since the article was credited since last year.

Oilacris

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Quote from: mersal on September 25, 2019, 10:15:17 AM

Quote from: GreatArkansas on September 25, 2019, 07:54:29 AM

I have short story about this topic.

When I was seeking for my job before, on my first ever job after I graduated.
I have this one company who interviewed me, and I mentioned before that I'm also into cryptocurrency.
You know what the manager said?
"You are into cryptocurrencies, eh? So, you are a gambler." Something like that.
So for me, "Whaaat? Really? Are you serious ?"

That's all, there are still some people don't know what is cryptocurrency and maybe gambling too.

Still facing the same thing wherever people hear that I am related with crypto currency.Some even thing that crypto currency is for criminals so we are helping the criminals to make transactions.

So pathetic.

Yeah, ive been experiencing the same thing too when you do tend to explain crypto into others where they do have negative impressions with it.
These medias and other news outlets that do give out false info is the cause with these kind of situations.People got blinded by these news which in result
they do look dumb for those people who actually know cryptos true usability.

diazepam666

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Quote from: GiannisK on September 25, 2019, 12:31:10 PM

I have found recently this cryptobetting platform called Kryptium https://kryptium.io/ .They are using ETH for the moment but is quite well organised. Maybe a coin adoption or cryptocurrency creation can help them. What do you thing?

This site is new to me, I always suggest to newbies to prefer well known and famous gambling site to stay safer. We cannot assure that unknown gambling whether they block on withdrawal or anything.
If you believe you may start with them or learn the collective feedback about that site and then you may go to invest with your fund on that site and make your gambling games there.

GiannisK

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I have found recently this cryptobetting platform called Kryptium https://kryptium.io/ .They are using ETH for the moment but is quite well organised. Maybe a coin adoption or cryptocurrency creation can help them. What do you thing?

South Park

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Quote from: qwertyup23 on September 23, 2019, 05:59:57 AM

The reason on why most people use BITCOIN as their currency for gambling is due to its value that no other altcoin can match.

Assuming that we were to use a currency entirely dedicated to gambling, the next question would be the price of such currency. Remember what determines the price of BITCOIN is the number of people who uses the currency. Basically, the law of supply and demand governs its price on the market.

Going back, if there exist such currency for gambling, its price would start at rock-bottom and its supply would be relatively huge. This would mean that it's actually priceless until people use it, which I doubt will happen anytime soon.

There is not really any reason to use an altcoin specifically dedicated to gambling, in fact one of the first real world uses that bitcoin had was to be a currency used for gambling, and it is not really a surprise to know why, you can transfer bitcoin very cheaply, you don't need that authorization by any third party to move your coins and while it is not anonymous it allows you to not reveal your identity unless you want to, taking that into consideration any coin that wants to become the coin that is used to gamble will have to beat bitcoin and that is not something easy to do.

mersal

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Quote from: GreatArkansas on September 25, 2019, 07:54:29 AM

I have short story about this topic.

When I was seeking for my job before, on my first ever job after I graduated.
I have this one company who interviewed me, and I mentioned before that I'm also into cryptocurrency.
You know what the manager said?
"You are into cryptocurrencies, eh? So, you are a gambler." Something like that.
So for me, "Whaaat? Really? Are you serious ?"

That's all, there are still some people don't know what is cryptocurrency and maybe gambling too.

Still facing the same thing wherever people hear that I am related with crypto currency.Some even thing that crypto currency is for criminals so we are helping the criminals to make transactions.

So pathetic.

DarkDays

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Quote from: GreatArkansas on September 25, 2019, 07:54:29 AM

I have short story about this topic.

When I was seeking for my job before, on my first ever job after I graduated.
I have this one company who interviewed me, and I mentioned before that I'm also into cryptocurrency.
You know what the manager said?
"You are into cryptocurrencies, eh? So, you are a gambler." Something like that.
So for me, "Whaaat? Really? Are you serious ?"

That's all, there are still some people don't know what is cryptocurrency and maybe gambling too.

Better than saying, "Hey, you're into cryptocurrencies! Cool, so you're a money launderer/criminal." Lol.

The laypeople still have a negative misconception about Bitcoin and other cryptocurrencies, it all stems from ignorance about a new technology, so can't really blame them.

You should have said oh, you still use fiat money... How's that crippling debt treating ya?

GreatArkansas

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I have short story about this topic.

When I was seeking for my job before, on my first ever job after I graduated.
I have this one company who interviewed me, and I mentioned before that I'm also into cryptocurrency.
You know what the manager said?
"You are into cryptocurrencies, eh? So, you are a gambler." Something like that.
So for me, "Whaaat? Really? Are you serious ?"

That's all, there are still some people don't know what is cryptocurrency and maybe gambling too.

AjithBtc

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There are large number of cryptocurrency that have been developed particularly for the purpose of gambling. Some even provide dividends on the sum of tokens being kept hold for the purpose of gambling. Majority of these tokens never get much of users, because most of the gamblers find much comfort with bitcoin, ethereum and other top altcoins that gives access to gambling on most of the cryptocurrency accepted gambling sites.

Darker45

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Quote from: nydiacaskey01 on September 24, 2019, 06:17:15 PM

As long as Bitcoin is on top of all coins, creating a separate coin or token for gambling only will be useless as you will just concert that token to Bitcoin if you plan to cash out. So far I haven't seen any token or coin dedicated for gambling that can be converted directly to fiat without going thru Bitcoin. I'm thinking its just another way for gambling sites to earn more for the additional fees when you convert to Bitcoin then cash out.

Sometimes, I tend to think that it is more or less pointless for gambling sites to introduce their own tokens because in so doing they are directly competing with BTC, ETH, Doge, etc. And especially if they want to develop a site or an online casino which is exclusively available to their token owners only, that is like giving much edge to their competitors. They need to realize that the online gambling business is populated with gamblers who are already comfortable playing with the aforementioned coins.

I actually noticed Loteo and Cryptomania offering new coins for their sites' users. I haven't researched more on them but I hope their sites are not exclusive for their token holders only. That might backfire.

maydna

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Quote from: coin-investor on September 24, 2019, 06:25:50 PM

Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

Things are different now than the last time you've created this thread, there are now a lot of Cryptocurrencies dedicated to gambling and there are so many gambling sites now that accept various Cryptocurrency, gambling is a multi-million dollar industry and Cryptocurrency developers have done the right thing creating a coin for this business, it's make adopting Cryptocurrency easy.

Gambling business will invite more people to come to gambling games, and it will make gambling business running for a long time. With the growth of technology, gambling owners will expand their business and create a new gambling website. They will have an idea to build a new game with money involved so we will see gambling games will grow too. And with the cryptocurrency, it makes gamblers have many options to bet, and they will not have a problem to buy any coin available for the bet.

coin-investor

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Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

Things are different now than the last time you've created this thread, there are now a lot of Cryptocurrencies dedicated to gambling and there are so many gambling sites now that accept various Cryptocurrency, gambling is a multi-million dollar industry and Cryptocurrency developers have done the right thing creating a coin for this business, it's make adopting Cryptocurrency easy.

nydiacaskey01

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As long as Bitcoin is on top of all coins, creating a separate coin or token for gambling only will be useless as you will just concert that token to Bitcoin if you plan to cash out. So far I haven't seen any token or coin dedicated for gambling that can be converted directly to fiat without going thru Bitcoin. I'm thinking its just another way for gambling sites to earn more for the additional fees when you convert to Bitcoin then cash out.

rodel caling

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Quote from: ?? on ??

yes whole crypto is like gambling actually that's why it run like to hold or to have a digital currency you already take the risk in that then our purpose is to earn and we experience so much conveniece everytime we use this like in trading then in gambling example we can do invest a little money only so that's affordable and you can't find that everywhere then in gambling we need only to click our phone or laptop then no need to play in some place like no need to walk so if you add main currency then that's will make more conveniece to every users

Actually you had a point, involvement as crypto ethusiasm same as a gamble because of risk, risk due to the affect of volality fluctuations.
But doesn't means crypto currency is design for gambling, it's people's choice because crypto gambling is anonymous for those want to gamble without knowing their identity. Crypto is also all about investment in my own view.

DarkDays

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There have actually been several cryptocurrencies that were designed specifically for gambling, most of which were released in 2017 and then subsequently failed to gain momentum.

However, in 2019, the closest thing you will get to a gambling cryptocurrency is one of the myriad dividend tokens that can be found floating around on the numerous EOS-based gambling platforms, e.g. EOSbet and BetHash. Both of these have a token that is rewarded to players when gambling and can be used to redeem rewards from the dividend pool generated from a fraction of the house edge.

Vaculin

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Winding down.

Quote from: sunsilk on September 24, 2019, 05:24:00 PM

Quote from: thisappointed on September 24, 2019, 12:08:28 PM

I there are already cryptocurrencies that are been using in the gambling sites

Yes, like the projects that are coming out now. They are making their casino with the token that they are also using to fund their business.

That kind of strategy is not proven successful, most of the successful casinos now are just using the traditional style where they accept major coins and altcoins. Maybe gamblers are not trusting too much on gambling sites that use their altcoins because anytime the value could drop since their liquidity is not that good, unlike with BTC and ETH where you can trade them at any trading sites in the space.

This is the list of gambling sites that uses ICO, I'm familiar with some of them but I know they are smaller compared to the popular gambling sites here accepting bitcoin and altcoins.

https://www.katiewager.com/gambling-tokens.html

sunsilk

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Quote from: thisappointed on September 24, 2019, 12:08:28 PM

I am also confused about what OP was trying to say here

A token that's dedicated for gambling just like the usual tokens that the other casinos has. And we don't need it anymore since there's too many of cryptocurrencies to choose from and overall, we have bitcoin and for the altcoin accepting casinos, they can choose from thousands of it but most of them relies on the top and most popular.

Quote from: thisappointed on September 24, 2019, 12:08:28 PM

I there are already cryptocurrencies that are been using in the gambling sites

Yes, like the projects that are coming out now. They are making their casino with the token that they are also using to fund their business.

thisappointed

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Quote from: Saisher on September 23, 2019, 05:38:52 AM

Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

I understand this thread was created almost a year ago, so many things have happened from the time you posted here until now, there are now so many gambling sites that are based in Cryptocurrency and it's a big help for gambling operators because people now can easily fund their account and he can gain new players from Cryptocurrency, it's a win-win situation for owners, gamblers and the Cryptocurrency industry.

I am also confused about what OP was trying to say here, I there are already cryptocurrencies that are been using in the gambling sites, the only difference now compare way back then is that they are adopting all of the cryptocurrencies which they think they could make a huge profit on it since those are the ones that has the potential as an investment like Ethereum, Monero, Litecoin, Ripple, and etc.

Land based casinos are still based on fiat, it looks like that they cryptocurrencies like bitcoin doesn't poke their interest yet, or they are just too afraid to embrace cryptocurrencies.

peter0425

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Quote from: Saisher on September 23, 2019, 05:38:52 AM

Quote from: dupee419 on December 15, 2018, 10:57:36 AM

An idea came onto my mind, and it consists about a currency that is entirely dedicated onto gambling and also betting, I did not search through the web if there is actually a crypto that has done this. Gambling is a thing that the people love to do, whether if it is in the casino or online, but have you ever thought of a crypto that will serve as your main currency whether if it is in the casino or it is on online, I think this could also be beneficial for the gamblers as well, I wanna know about what you think of my idea, whether if it is a positive or negative opinion, I will still take it.

I understand this thread was created almost a year ago, so many things have happened from the time you posted here until now, there are now so many gambling sites that are based in Cryptocurrency and it's a big help for gambling operators because people now can easily fund their account and he can gain new players from Cryptocurrency, it's a win-win situation for owners, gamblers and the Cryptocurrency industry.

We cannot discredits the help of gambling in cryptocurrency to the market movement,because this is one of the reason why Cryptocurrency is moving even in downfall season
With may gambling sites and gamblers this community is still having reason to look at the health of market,and come to look at the service section when most of the running Signature campaigns are gambling companies

Topic: A cryptocurrency entirely dedicated to GAMBLING? - page 5. (Read 18588 times)