Altcoins in Gambling - page 3. | Bitcointalksearch.org

veleten

legendary

Activity: 2016

Merit: 1106

nowadays altcoins are used in gambling in parallel to bitcoins
there are many casinos that allow players to convert on site
most of them are using shapeshift.io API so you can convert your,lets say,etherium to bitcoins and gamble away
bitsler.com (check my signature

) allows to gamble using DOGE,ETH,LTC and of course,bitcoins
the more popular a cryptocurrency is the more casinos and sites are using it
https://dicesites.com/ here is a list of dice sites with volumes,check yourself which coin is popular

another honorary mention -justdice as it allows pundits to bet with their CLAMs(not extremely useful otherwise)
there are DASH casinos,LTC casinos in a form of the most poular dice game and so on and so forth
basically,if you have any cryptocurrency and you want to risk it-there is always a place to accomodate your gambling needs
simply search this forum or google and you are all set

jamyr

sr. member

Activity: 1750

Merit: 373

<------

Hi.

This reminds of me the wolf of wall street. If you are familiar with the movie, they are selling products of their imagination, products that doesn't really exist. Is it the same here with altcoins, and to be honest, the future of altcoins seem to be just if they can be used as "chip" for casinos/gambling sites/betsites. I have not seen an altcoin aside from bitcoin that went successful that is not used in gambling, what I mean by successful is really successful, not just because of hype, etc.

And again, I think(correct me if I'm wrong) the value of Bitcoin/Altcoin is still depending on broke people(most of the time got broke gambling).

dontryjustdoit

newbie

Activity: 30

Merit: 0

Quote from: chaser15 on November 30, 2016, 08:58:08 PM

Quote from: bbc.reporter on November 30, 2016, 08:49:25 PM

@jamyr. Please give a link to the Betking ICO thread. Let us see what they are offering in exchange for investing in their ICO. Be warned that ICO's are mostly a scam. Be careful before investing in those.

https://bitcointalksearch.org/topic/ann-betkingio-ico-bitcoin-gambling-website-5814-btc-raised-so-far-1697106

Quote from: bbc.reporter on November 30, 2016, 08:49:25 PM

@RHavar. When you hold tokens from an ICO it does not necessarily mean that each token represents a % of the site's ownership and that it will incur future profits. ICO's are mostly a way to collect money from the community and the leave it up to them to hold or sell their tokens. Many people frown on this in the community because all it creates is a ponzi scheme.

Crowdfunding just like Vdice did. Different with other alts on ICO that usually will just shine the stage for just a few weeks. But if a person does manage to ride those altcoin manipulation, it's profitable. We all know that altcoin come and go so for a person that wants to do some risk then they can put some money and play with that alts. Besides coins offers on ICO does have a cheap price but don't expect of course a profit in terms of long term investment.

Are cynical or is really like that "manipulation".

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

Quote from: bbc.reporter on November 30, 2016, 08:49:25 PM

@jamyr. Please give a link to the Betking ICO thread. Let us see what they are offering in exchange for investing in their ICO. Be warned that ICO's are mostly a scam. Be careful before investing in those.

https://bitcointalksearch.org/topic/ann-betkingio-ico-bitcoin-gambling-website-5814-btc-raised-so-far-1697106

Quote from: bbc.reporter on November 30, 2016, 08:49:25 PM

@RHavar. When you hold tokens from an ICO it does not necessarily mean that each token represents a % of the site's ownership and that it will incur future profits. ICO's are mostly a way to collect money from the community and the leave it up to them to hold or sell their tokens. Many people frown on this in the community because all it creates is a ponzi scheme.

Crowdfunding just like Vdice did. Different with other alts on ICO that usually will just shine the stage for just a few weeks. But if a person does manage to ride those altcoin manipulation, it's profitable. We all know that altcoin come and go so for a person that wants to do some risk then they can put some money and play with that alts. Besides coins offers on ICO does have a cheap price but don't expect of course a profit in terms of long term investment.

bbc.reporter

legendary

Activity: 2926

Merit: 1440

Quote from: RHavar on November 30, 2016, 04:04:56 PM

Quote from: jamyr on November 30, 2016, 03:31:40 PM

Hi.

Thank you for sharing your observation, it gave me a clearer picture of the industry. However, I just saw a thread "betking.io ico" that proposes making 100m tokens. So those tokens are only for gambling? Or can only be used on that site?

I'm sorry if I am not able to express what I want in a more understandable way.

When they talk about an ICO (initial coin offering), what they're actually doing is really just creating shares. Each coin just represents a % of the sites ownership / future profits. So in effect he's selling part of his company in exchange for money (in bitcoin) to expand/market/what ever.

This is quite different to altcoins, like say, ethereum which are designed to "compete" with bitcoin as a means of value.

@jamyr. Please give a link to the Betking ICO thread. Let us see what they are offering in exchange for investing in their ICO. Be warned that ICO's are mostly a scam. Be careful before investing in those.

@RHavar. When you hold tokens from an ICO it does not necessarily mean that each token represents a % of the site's ownership and that it will incur future profits. ICO's are mostly a way to collect money from the community and the leave it up to them to hold or sell their tokens. Many people frown on this in the community because all it creates is a ponzi scheme.

jamyr

sr. member

Activity: 1750

Merit: 373

<------

You know RHavar, you just saved me from having to dig into data/ideas in the forum. Thank you.

And just to make it clear, ICO - are shares of the company/site/app etc., that are divided via token/s. So the value of the token/s while ICO is currently taking place is gonna start from what the owner priced his company/site/app, and can eventually change base on the outcome of the development/expansion/whatever, and these shares are different from the Altcoin even if the company/app/site have their own currency?

Edit: I may have to move this topic to Altcoins.

RHavar

legendary

Activity: 2557

Merit: 1886

Quote from: jamyr on November 30, 2016, 03:31:40 PM

Hi.

Thank you for sharing your observation, it gave me a clearer picture of the industry. However, I just saw a thread "betking.io ico" that proposes making 100m tokens. So those tokens are only for gambling? Or can only be used on that site?

I'm sorry if I am not able to express what I want in a more understandable way.

When they talk about an ICO (initial coin offering), what they're actually doing is really just creating shares. Each coin just represents a % of the sites ownership / future profits. So in effect he's selling part of his company in exchange for money (in bitcoin) to expand/market/what ever.

This is quite different to altcoins, like say, ethereum which are designed to "compete" with bitcoin as a means of value.

jamyr

sr. member

Activity: 1750

Merit: 373

<------

Hi.

Thank you for sharing your observation, it gave me a clearer picture of the industry. However, I just saw a thread "betking.io ico" that proposes making 100m tokens. So those tokens are only for gambling? Or can only be used on that site?

I'm sorry if I am not able to express what I want in a more understandable way.

RHavar

legendary

Activity: 2557

Merit: 1886

I'm not aware of any altcoin that actually can or does impose restrictions on what the coin is used for. So any casino can generally offer gambling in any altcoin they see a market for.

Based on what I've seen though, most altcoin gambling sites have quite a bit of trouble getting traction and most altcoin users are either also bitcoin users, or have no problems converting back and forth. So you probably don't lose a huge amount of the market by purely accepting bitcoin.

jamyr

sr. member

Activity: 1750

Merit: 373

<------

Hello.

I am not very knowledgeable with bitcoin and other altcoins but I have noticed that altcoins that can be used in popular gaming/gambling sites tend to be a solid coin-type unlike others that I really don't see the value in keeping.

My question now is how can a specific coin be included or played in gambling sites? Is it only because the owner of the gambling site and the developer of that coin agreed to or are there factors or qualities necessary before a coin can be added to the gambling site?

-jamyr

P.S.

The popularity of the coin comes first before you can gamble with it or gambling with it makes it popular?

Topic: Altcoins in Gambling - page 3. (Read 1507 times)