I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
could happen(I mean there is always a possibility) but most likely not. I doubt the US would let their precious dollar be backed by a decentralized currency. 
Topic: Bitcoin and Gambling 13 years later.......... (Read 298 times)
I wonder if he thought back then that the Idea of Bitcoin being used for gambling would become as big as it is today.
This is an incredible thread that reminds us of how small ideas can really turn out to become something big that the whole world will benefit from, the whole Bitcoin idea and its adoption in various spheres of life have been a misery because some years ago no one believes that bitcoin will reach global preeminence such as it has in current time.
The gambling industry has become one of the major players in bitcoin transactions and their hike and dominance become evident during the pandemic when there was a lockdown and enforcement of social distancing, this push many to adopt online gambling and bitcoin and other cryptocurrency become the most used payment method.
The gambling industry has become one of the major players in bitcoin transactions and their hike and dominance become evident during the pandemic when there was a lockdown and enforcement of social distancing, this push many to adopt online gambling and bitcoin and other cryptocurrency become the most used payment method.
Yea, I remember a time when the only places you could gamble with Bitcoin was something like SatoshiDice AND Freebitco.in (dice only) and Bustabit and PrimeDice. There were some smaller sites, but most of them turned scam ... so it turned a lot of people against Bitcoin.
I remember those gambling platform but my favorite one back then was Directbet and I think it was owned by this member here. They used to place free bet every week in sports and I used to gamble on their site too, it was really easy and you don't even need an account to gamble, just set up your games and send bitcoin to it and once you win you'll receive your gain on your address!I think gambling was one of the pioneer driving forces behind Bitcoin and pseudo anonymity was 100% required by the gambling community, because Bitcoin use was illegal back then. 
Bitcoin makes gambling easier and more accessible to anyone without restrictions so far. Unlike fiat gambling sites that require document verifications before starting to gamble but crypto gambling does not require any documentation, making it available to anyone.
This look like dream come to pass for op who had initiated the use of Bitcoin by casinos so that the adoption of Bitcoin would spread around the world. It is very obvious that many casinos now are now diverting to the use of cryptocurrency which is mostly preferred by gamblers because the process is very easy and does not involve any third parties to be involved for the transaction to be complete.
I believe there are so many persons too that push to the fast adoption of Bitcoin through gambling and other activities. Now the numbers of gambling crypto casinos are increasing everyday.
I believe there are so many persons too that push to the fast adoption of Bitcoin through gambling and other activities. Now the numbers of gambling crypto casinos are increasing everyday.
Funny that you mentioned that the dollar is backed by faith when bitcoin is no different. For all these years we have been basing bitcoin's price and uptrend to whether other people will start cashing in on the cryptocurrency, which is pretty much textbook backed by faith currency. The best case scenario we could achieve in the future is bitcoin achieving a digital representation with a valuation that is stable enough. Or we could akso retain bitcoin's highly volatile nature and rake profits from the pumps and dumps. Ultimately the dollar is bound to fail looking at the current situation. What happens after this, we can't be for sure.
That guy has a great vision, he find a problem and he eventually finds a solution and it is by integrating bitcoin in different online gambling site, I think majority of the online gambling site have a way in order for you to deposit bitcoins in their wallet. Gamblers nowadays prefering to gamble using bitcoin because of security and safety wherein financial institutions cannot track their transaction history. They also prefer it because of its conveniency wherein you can deposit anytime and anywhere you want unlike before you need to setup your credit or debit card info and ther are a lot of things that you need to fill up just to deposit money on a certain gambling wallet. As for the guy who predicted an exact thing, I'm sure he is now a rich man because his vision is different from everyone else. Probably he really contacted a lot of gambling site in the past to integrate bitcoin in their system.
13 years ago, having a bitcoin on a casino site as a deposit method was only a pipe dream; I'm sure a lot of effort was put in during that time by certain users here on the forum; some of those contacted gambling companies are now out of business, but Bitcoin never stop running. Bogdog.com was a well-known fiat casino back then, and they are now one of the largest that accepts bitcoin and cryptocurrency as payment. I hope Jimboway is still living to see what he recommended 13 years ago come to reality.
It sounded ridiculous 13 years ago when he came up with the ideal because few people believed Bitcoin would be this big back in 2010.
It sounded ridiculous 13 years ago when he came up with the ideal because few people believed Bitcoin would be this big back in 2010.
this is something new I know, @jimbobway, if you are still alive, the idea you wrote, has changed the current online gambling, depositing or withdrawing with bitcoin is a brilliant idea.
There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
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USA uses gold as a backup dollar because gold has a strong influence on the economy and price resilience ( for now) because many people like it, someday maybe that day will come > USA uses bitcoin as a backup dollar. (because the influence of bitcoin is bigger and stronger than gold and the amount cannot be added or subtracted)
There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
Currently, all countries' currencies are backed by their governments, the economy determines the value of the currency, today's currencies are not backed by any assets even gold. So, thinking about the prospect of bitcoin supporting USD is a myth. Bitcoin will become a scarce asset like gold and will become an asset in the national budget is possible.
There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
That’s classic example of how not to stop worrying about bitcoin and just keep imagining that one day it will be part of global monetary system. Imagine slowly every malls, cinemas, street vendors to any damn big thing we can imagine will have bitcoin acceptance one day.
I am not saying it is an overdo, but pictured it in future same results would come out. Most importantly why not? It has all the possibility of integrations. It’s open source, plus it’s pressuring government in all the ways possible. So they will have way out which will let bitcoin inject in the system. Cool isn’t it.
I am not saying it is an overdo, but pictured it in future same results would come out. Most importantly why not? It has all the possibility of integrations. It’s open source, plus it’s pressuring government in all the ways possible. So they will have way out which will let bitcoin inject in the system. Cool isn’t it.
There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
Currently, all countries' currencies are backed by their governments, the economy determines the value of the currency, today's currencies are not backed by any assets even gold. So, thinking about the prospect of bitcoin supporting USD is a myth. Bitcoin will become a scarce asset like gold and will become an asset in the national budget is possible.
He was a fortune teller, hehehe. But I do agree that gambling with bitcoin is the best use case. And if I'm not mistaken, (I don't have the numbers), but I will assume that majority of us have gambled our Bitcoin one time or another, more than using it as a payment method.
And I don't think that it's bad, it's not there growth of gambling is really massive in the last 5 years or so.
Just look at the current signature campaigns, still dominated by crypto based gambling platforms (Stake, Sportsbet, Duelbits, Rollbit, Roobet and others).
The trend will continue in the next 10 years or so.
And I don't think that it's bad, it's not there growth of gambling is really massive in the last 5 years or so.
Just look at the current signature campaigns, still dominated by crypto based gambling platforms (Stake, Sportsbet, Duelbits, Rollbit, Roobet and others).
The trend will continue in the next 10 years or so.
Gambling with Bitcoin has been huge for a long time now, but it's truly wonderful to come back to posts like this and remember that such things some from people who at some point dared imagine a what-if scenario, and then they and/or others started making it real, working to implement an image of what's possible.
Still, I don't think the wider implications made by the op hold. Bitcoin won't become a base for dollar's value any time soon, I agree on that point with some others in the thread. As for China and Russia, it's been thankfully almost a year since that announcement, and I don't see anything that's come out of it so far. The USD is still strong enough to attract international attention without turning to cryptos, and maybe turning to Bitcoin would actually diminish its strength in the eyes of many countries that currently have faith in the USD precisely because they know that Bitcoin is not something under a superpower's control and can be very volatile.
Still, I don't think the wider implications made by the op hold. Bitcoin won't become a base for dollar's value any time soon, I agree on that point with some others in the thread. As for China and Russia, it's been thankfully almost a year since that announcement, and I don't see anything that's come out of it so far. The USD is still strong enough to attract international attention without turning to cryptos, and maybe turning to Bitcoin would actually diminish its strength in the eyes of many countries that currently have faith in the USD precisely because they know that Bitcoin is not something under a superpower's control and can be very volatile.
Gambling was one of the earliest use-cases of Bitcoin. The decent amount of privacy that Bitcoin provided to its users somehow addressed the hassles that characterized fiat deposits on gambling sites. Today, crypto gambling has grown thousands of fold. I suppose the daily aggregate amount processed by all kinds of crypto gambling sites, whether sports betting or casino or dice only, is already in the hundreds of millions, if not a billion.
So what may seem today as impossible may happen in the future. Who knows, Bitcoin might indeed become a reserve currency one day?
So what may seem today as impossible may happen in the future. Who knows, Bitcoin might indeed become a reserve currency one day?
Bitcoin will never die for this exact use case. There simply isn't a better currency for the gamblers. And this use case gets even better if the casino is decentralized or KYC-free like freebitco.in. Gambling is bad, gambling makes people poor bla bla bla. Nobody cares. Drinking beer and smoking cigs is bad too but millions of people do it every day. Since these people will never go away, gambling will also be here as long as the humanity exists and most of them will be using bitcoin instead of USD because the US government is a whiny little bitch. Bitcoin don't bitch.
It is really emotional to see how many road bitcoin has made since its creation ! Today we consider Bitcoin "normally accepted" in a gambling casino but 13 years ago this was something of impossible ! 
Anyway, if this has happened, we should be thankful with PrimeDice, this was the first company mainstream to accept Bitcoin as the only payment method. (I remember about their signature campaign, that was beautiful
days ). Hope that in the future, the other casino mainstream (such as bet365, ecc.) will accept Bitcoin as currency for deposit and withdrawal.
Anyway, if this has happened, we should be thankful with PrimeDice, this was the first company mainstream to accept Bitcoin as the only payment method. (I remember about their signature campaign, that was beautiful
days
). Hope that in the future, the other casino mainstream (such as bet365, ecc.) will accept Bitcoin as currency for deposit and withdrawal.
Yea, I remember a time when the only places you could gamble with Bitcoin was something like SatoshiDice AND Freebitco.in (dice only) and Bustabit and PrimeDice. There were some smaller sites, but most of them turned scam ... so it turned a lot of people against Bitcoin.
I think gambling was one of the pioneer driving forces behind Bitcoin and pseudo anonymity was 100% required by the gambling community, because Bitcoin use was illegal back then.
I think gambling was one of the pioneer driving forces behind Bitcoin and pseudo anonymity was 100% required by the gambling community, because Bitcoin use was illegal back then.
I hope Jimboway is still living to see what he recommended 13 years ago come to reality.
There are a few dreamers that believe in the power of the future, Jimboway and most members of this forum are an example.Bogdog.com was a well-known fiat casino back then, and they are now one of the largest that accepts bitcoin and cryptocurrency as payment.
It is good that Bogdog.com evolved with time and began accepting bitcoins and cryptocurrency. Some companies have failed and gone out of business mainly because they refused to rebrand, repackaged and evolve with some important trends, so their profit reduced and they went out of business, over shadowed by the presence of new businesses with trend.
There are so many strange things going on with the US dollar right now, I believe that the US dollar will be backed by Bitcoin someday (the Us dollar being backed by faith is not enough); it may not happen now, but it will happen in a few years.. sounds ridiculous right?
May sound ridiculous to some still, but I believe in the future. It’s not the point if bitcoin will someday be a guarantee for the usd. A currency lives when it is trusted and is used. Bitcoin does develop both of that more and more the longer it exists, so there is more the potential that at some point it will simply surpass the usd. I suspekt this surpassing will however not be liked by everyone.
That's just one part of the equation, trusted doesn't mean that the government will make the trust legitimate. I could agree with your second statement though, time is on bitcoin's side but I still have reservations about it surpassing USD, maybe if USD becomes less powerful in terms of global trade due to more countries trying to get out of the USD as reserve currency game.
It’s not the point if bitcoin will someday be a guarantee for the usd. A currency lives when it is trusted and is used. Bitcoin does develop both of that more and more the longer it exists, so there is more the potential that at some point it will simply surpass the usd. I suspekt this surpassing will however not be liked by everyone.
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