I think its good because ot is quick and easy you can get started without waiting very long and then you can also withdraw quickly.
This is also a disadvantage since you can quickly spend all your money and send a lot of it at once risking everything.
Topic: Advantages and Disadvantages use cryptocurrency like Bitcoin for online gambling (Read 1924 times)
December 05, 2016, 08:32:34 PM
December 05, 2016, 04:12:25 PM
I will say that for the casino owners definitely there is more benefits as they are getting more bets with more people coming there without showing their identity but for the community the disadvantage is that even kids also come to these online casino and they play games for money on these online casino and bet for sports etc.
Since over 80% gamblers lost their game, obviously the house have a lot profit.
And since it pseudonym everyone from every gender and age can play easily without worry people know what they use. This is gloomy and ironic, with technology in high level and every kids can used every gadget, they can easily to access this. The parenting of parents is necessary here.
Almost all know about the advantages of using cryptocurrency like bitcoin for online gaming but many may not have realized some of the disadvantages like you can't catch the scam casino site if they ran away with investors money and also if they steal few hundreds bitcoin from players account because most of the bitcoin casino run without any license from authority and also most of them hide their owners details.
Yes, like i said still haven't found any bitcoin gambling site which have regulation for in this case to avoiding scam scheme.
And there's no chance to track them if the scam scheme happens, could be need pretty big amount to catch them.
December 05, 2016, 02:23:33 PM
For advantage, Im specifically pointing out the comfortability of using bitcoin in any forms of gambling online. Why I found it comfortable? Bitcoin is somehow easy to be accessed by everyone so in here, gambling in any kinds of bitcoin gambling site is just one step away and will take only few steps before we can start. And since bitcoin can be earned by doing various methodsn, we aren't harming our fiat money here in most of th cases.
The disadvantage is, bitcoin gambling site are not regulated compare to fiat gambling site that running legitimately under some government terms. So if ever there is a fraud activity, we can't stop that. So play at your own risk. Comfortability in bitcoin has an equal value of the word opposite from it.
The disadvantage is, bitcoin gambling site are not regulated compare to fiat gambling site that running legitimately under some government terms. So if ever there is a fraud activity, we can't stop that. So play at your own risk. Comfortability in bitcoin has an equal value of the word opposite from it.
December 05, 2016, 02:18:57 PM
I do not think that the volatility of the price of bitcoin have any issue for bitcoin gambling. They can manage the price and rate for it according to the changes occur and nowadays the volatility is not much high only smaller fluctuations are occurring at the price of bitcoin so it is not a bigger disadvantage for the gambling.
December 05, 2016, 01:59:44 PM
Almost all know about the advantages of using cryptocurrency like bitcoin for online gaming but many may not have realized some of the disadvantages like you can't catch the scam casino site if they ran away with investors money and also if they steal few hundreds bitcoin from players account because most of the bitcoin casino run without any license from authority and also most of them hide their owners details.
December 05, 2016, 01:43:30 PM
I will say that for the casino owners definitely there is more benefits as they are getting more bets with more people coming there without showing their identity but for the community the disadvantage is that even kids also come to these online casino and they play games for money on these online casino and bet for sports etc.
Yes gambling owners are really enjoying the advantages of bitcoin's introduction and using it for their gambling houses. Before bitcoin gambling sites were heavily suffered by charge backs when they were accepting PayPal or credit cards.There are a lot of disadvantages : I would not gamble if crypto currencies are not available with me.
December 05, 2016, 04:52:38 AM
I can only find positives and advantages while using bitcoin for gambling. i do like the points you have mentioned and bitcoin has influenced many gambling sites to appear in the past few years. Most of the high rollers would not mind about the price of bitcoin as they consider it as tokens because they do have a large number of coins in their hands and other than that if the price keeps on increasing i will find it difficult to gamble with bitcoin.
That is certainly true, the higher the gambling then the higher growth of the bitcoin. indeed from what I see that growth of the bitcoin it due to the increasing demand for gamblers using bitcoin in any stakes in gambling sites. It's all something of a good thing, but in other respects it is very bad because gambling is not a game or a lucrative job (for those who don't know how to play). so, if you want to use a gambling indeed preferably should be about gambling with the good
Gambling sites do really expand because of bitcoin because the saw the demand for it since using bitcoin on gambling is very easy and accessible that most gamblers out there will surely like the convenience that it gives.Gambling is not really a job and there are lots if things not only on gambling sites that spread the adoption of bitcoin.Gambling is the majority where bitcoins used as at this point, Gambling site uses bitcoin as mode of payment because this coin is perfect for it because of it's anonymity features, easy to transfer without the hassle of disputing and at the same time, It didn't have a tax compared to gambling casino on real world that have many requirements before allowing player to play. A lot of people here just focus on gambling and missed the opportunity to have a good profit on trading and investing on ICO.
Indeed basically. Now many people are using bitcoin for gambling, for bitcoin is a digital currency that anonymous and only the owner just knowing that it was their addres address. Why many are using bitcoin for gambling ..?? For most gamblers do not want its identity in the know and they don't want to family, friends, or her boyfriend knowing it.During the use of gambling in a good way then that's a bad thing to do, because all things about gambling is indeed is very bad if we can't use it well
December 05, 2016, 04:47:59 AM
I can only find positives and advantages while using bitcoin for gambling. i do like the points you have mentioned and bitcoin has influenced many gambling sites to appear in the past few years. Most of the high rollers would not mind about the price of bitcoin as they consider it as tokens because they do have a large number of coins in their hands and other than that if the price keeps on increasing i will find it difficult to gamble with bitcoin.
That is certainly true, the higher the gambling then the higher growth of the bitcoin. indeed from what I see that growth of the bitcoin it due to the increasing demand for gamblers using bitcoin in any stakes in gambling sites. It's all something of a good thing, but in other respects it is very bad because gambling is not a game or a lucrative job (for those who don't know how to play). so, if you want to use a gambling indeed preferably should be about gambling with the good
Gambling sites do really expand because of bitcoin because the saw the demand for it since using bitcoin on gambling is very easy and accessible that most gamblers out there will surely like the convenience that it gives.Gambling is not really a job and there are lots if things not only on gambling sites that spread the adoption of bitcoin.Gambling is the majority where bitcoins used as at this point, Gambling site uses bitcoin as mode of payment because this coin is perfect for it because of it's anonymity features, easy to transfer without the hassle of disputing and at the same time, It didn't have a tax compared to gambling casino on real world that have many requirements before allowing player to play. A lot of people here just focus on gambling and missed the opportunity to have a good profit on trading and investing on ICO.
December 05, 2016, 02:54:24 AM
I can only find positives and advantages while using bitcoin for gambling. i do like the points you have mentioned and bitcoin has influenced many gambling sites to appear in the past few years. Most of the high rollers would not mind about the price of bitcoin as they consider it as tokens because they do have a large number of coins in their hands and other than that if the price keeps on increasing i will find it difficult to gamble with bitcoin.
That is certainly true, the higher the gambling then the higher growth of the bitcoin. indeed from what I see that growth of the bitcoin it due to the increasing demand for gamblers using bitcoin in any stakes in gambling sites. It's all something of a good thing, but in other respects it is very bad because gambling is not a game or a lucrative job (for those who don't know how to play). so, if you want to use a gambling indeed preferably should be about gambling with the good
Gambling sites do really expand because of bitcoin because the saw the demand for it since using bitcoin on gambling is very easy and accessible that most gamblers out there will surely like the convenience that it gives.Gambling is not really a job and there are lots if things not only on gambling sites that spread the adoption of bitcoin. 
December 05, 2016, 01:35:40 AM
I also believe that online gambling is going to be huge in the near future but anything that grows this fast will bring a lot of attention from government and the tax man
and if they can not take taxes from online gambling they will ban it and put a stop to it.anyways i think with introduction of bitcoin gambling the industry has started to be revolutionized and these casinos today are the pioneers of tomorrow which can say "we were the first to open up a bitcoin gambling site" and have their business booming.
Actually, Online gambling is really huge by now and right this brings too much attentions especially to our government and we can obviously see some actions being taken by the government especially for those exchanger service. They are not trying accept any payment anymore from gambling related sites(eg. coinbase any account that has a transcation from gambling site will be ban)
There is also the risk of the sportsbetting site not giving you your money. Since most of the bitcoin gambling sites are operating outside regulatory bodies, it would be easy for them to take your money. In fact I have a withdrawal that has not arrived yet from a bitcoin sportsbetting site. I am still not posting anything at Scam Accusations because I want to give it more time. It may only be me being impatient. The problem is the site said that it has already sent the bitcoins but it has not yet appeared to be sent in the blockchain.
What are the known cases like mine?
What are the known cases like mine?
Risk in sports betting does not limit only to whether the certain sites pays or not but the betting itself is already the risk. That is really the disadvantage of the online gambling sites(most of them are illegally operated)
December 04, 2016, 09:32:34 PM
There is also the risk of the sportsbetting site not giving you your money. Since most of the bitcoin gambling sites are operating outside regulatory bodies, it would be easy for them to take your money. In fact I have a withdrawal that has not arrived yet from a bitcoin sportsbetting site. I am still not posting anything at Scam Accusations because I want to give it more time. It may only be me being impatient. The problem is the site said that it has already sent the bitcoins but it has not yet appeared to be sent in the blockchain.
What are the known cases like mine?
What are the known cases like mine?
December 04, 2016, 07:19:06 PM
I can only find positives and advantages while using bitcoin for gambling. i do like the points you have mentioned and bitcoin has influenced many gambling sites to appear in the past few years. Most of the high rollers would not mind about the price of bitcoin as they consider it as tokens because they do have a large number of coins in their hands and other than that if the price keeps on increasing i will find it difficult to gamble with bitcoin.
That is certainly true, the higher the gambling then the higher growth of the bitcoin. indeed from what I see that growth of the bitcoin it due to the increasing demand for gamblers using bitcoin in any stakes in gambling sites. It's all something of a good thing, but in other respects it is very bad because gambling is not a game or a lucrative job (for those who don't know how to play). so, if you want to use a gambling indeed preferably should be about gambling with the good
December 04, 2016, 07:12:20 PM
I can only find positives and advantages while using bitcoin for gambling. i do like the points you have mentioned and bitcoin has influenced many gambling sites to appear in the past few years. Most of the high rollers would not mind about the price of bitcoin as they consider it as tokens because they do have a large number of coins in their hands and other than that if the price keeps on increasing i will find it difficult to gamble with bitcoin.
December 04, 2016, 06:40:43 PM
Advantages are you can play in your home, you can play without giving your real identity, you can play using your mobile phone. You can pre roll w/o a bet.
Right, These are the advantages that we can get with bitcoin gambling the convenience is what we are going to experience as we use bitcoin to gamble. And also we can gamble for small amount.
I will say that for the casino owners definitely there is more benefits as they are getting more bets with more people coming there without showing their identity but for the community the disadvantage is that even kids also come to these online casino and they play games for money on these online casino and bet for sports etc.
And this is the disadvantage that we will sadly know about bitcoin gambling, we are helping gambling casino business owners to make their site grow and get profit from our losses.
December 04, 2016, 06:31:41 PM
I will say that for the casino owners definitely there is more benefits as they are getting more bets with more people coming there without showing their identity but for the community the disadvantage is that even kids also come to these online casino and they play games for money on these online casino and bet for sports etc.
December 04, 2016, 05:00:10 PM
Advantages are you can play in your home, you can play without giving your real identity, you can play using your mobile phone. You can pre roll w/o a bet.
December 04, 2016, 03:50:43 PM
Being a hard core gambler, the advantage of gambling I do enjoy due to cryptocurrency : I am able to start gambling in the instant I wanted to, without exposing my personal details like credit card numbers or not getting a recurring payment with my PayPal.
The disadvantage is the easy nature of getting start with gambling makes me to stick with gambling all the time.
The disadvantage is the easy nature of getting start with gambling makes me to stick with gambling all the time.
December 04, 2016, 11:36:32 AM
There are many advantages. What I liked about it, is that you just need to have your wallet with some Bitcoins and internet connection, then you choose a site, send the BTCs and start playing (in less than 5 minutes you start your game). No necessity to use credit cards, bank transactions...
And there is another good point. With satoshis, you can bet since very low amounts until very big amounts, with dollars you must bet at least $0.01 per bet and depending the site... With Bitcoins you can start from 1 satoshi (if you wish)!
I don't see disadvantages when betting with Bitcoins... The only disadvantage is if the casino closes or don't pay you.
And there is another good point. With satoshis, you can bet since very low amounts until very big amounts, with dollars you must bet at least $0.01 per bet and depending the site... With Bitcoins you can start from 1 satoshi (if you wish)!
I don't see disadvantages when betting with Bitcoins... The only disadvantage is if the casino closes or don't pay you.
December 04, 2016, 11:22:35 AM
disadvantages about bitcoin price is not stable, you can use gamble site is rate use USD but payment still use cryptocoin(bitcoin)
advantage gamble site use bitcoin, stil same bitcoin anonymous, you play without verification ID
so is enjoy and save
even its not stable we cant call it as disadvantages because just like other currency their price is not stable just like bitcoins . on other people thats an advantage for them so they can afford bitcoin in a low price so when the price of bitcoin gets raise again they can make a profit from it just using a small investment mostly trader use that strategy.advantage gamble site use bitcoin, stil same bitcoin anonymous, you play without verification ID
so is enjoy and save
December 04, 2016, 11:21:43 AM
One of the advantages is that there is transparency in the form of payment, since all transactions can be checked in the Blockchain. The biggest problem that can occur is the possibility of the user investing into scam websites, which is something common in crypto lately. Another thing that some users may complain about, is the fact that the transactions are irreversible, but it is the responsibility of the user to avoid sending money without being sure about it.
yep you're right about the transparency on the form of payment because any one can check the transactions via blockchain. and the problem you're saying was not bitcoin fault its on the user. why would they send a money on a scamming websites with out doing a proper check on background just like im doing. well we cant blame them because we all know that all of us want to make a higher profit thats why we're risking our btc on a things we're not sure about.Transparency in form of payment through Blockchain is right but what is the use of getting details from Blockchain until you cannot say which users is using this transaction. That is the main advantages of Bitcoin is you cannot identify the user behind the transaction who is doing gambling. It means whether he is minor or major you cannot tell. This is advantage for Minor age Gamblers as they dont have to give any identification in doing bitcoin gambling online. for fiat currency they have to give their identity verification and if minor they cannot gamble.
But disadvantage is that through this process Minor age gamblers are getting attracted to gambling through bitcoin and ruining their life after loosing a lot and then regretting it.
Jump to: