Bitcoin and Gambling 13 years later.......... - page 2.

davis196

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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?

US dollar backed by BTC? Not going to happen. The US dollar isn't backed by faith. It's backed by the US army and the CIA. It's backed by the fear of the USA(the so called "deep state"). There's no need to back the US dollar by any financial asset, because this way the FED money printing machine won't be limited by anyone and anything.
Anyway, 13 years ago this guy made the right prediction that Bitcoin is going to be widely adopted by the gamblers. It's funny that he asked for donations. I guess that begging for BTC donations wasn't banned on Bitcointalk back in 2010. Grin

borovichok

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Quote from: romero121 on April 15, 2023, 06:08:12 PM

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

Yeah, because it provides far more than a fiat gaming platform, such as more control over deposits and withdrawals, accessibility from anywhere in the world, reduced transaction deposit/withdrawal fees, and, most importantly, anonymity.

Quote from: Poker Player on April 15, 2023, 11:21:08 PM

Quote from: BITCOINDENMARK on April 15, 2023, 06:13:21 PM

$ backed by Bitcoin will be as big as finding bitcoin in 2010

That is not going to happen in the near future. Central banks have an easier time backing it by gold and are not doing so although China is rumored to be planning to do so. Bitcoin is too volatile as of today for it to serve as a backing.

What would not surprise me at all is if some countries decide to start mining Bitcoin. I think that will happen before they dedicate to back the currency in it, if that ever happens.
These are ideas that might seem far-fetched to many people today, but how gambling with Bitcoin might have seemed 13 years ago, and we see how important it has been in the history of Bitcoin.

With the potentials that bitcoin possesses, I've learned never to say never. It may not happen now or in the near future, but never use the word Never in the same sentence with Bitcoin. With the latest developments going on with the US Dollar, the only way out may be BTC.

Quote from: electronicash on April 16, 2023, 12:26:45 AM

i have no idea when BTC started to be used in online casino, BTC was always been associated as gambling coin for those that opposed its existence.

Started around late 2013 by SatoshiDice, which was launched in 2012 and allowed users to bet with Bitcoin on a simple dice game.

Lorence.xD

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I like how every known project was started with sound like silly idea. Its like the time that people doesn't even know the power of social media back then such as Facebook, Twitter and Youtube. There's a lot of opportunity that it gives right now but back then they aren't used that much yet. Just like the Bitcoin, he's idea might sound silly but if you look forward right now its successfully adapted by people to use Bitcoin as transactions. It's much convenient to use Bitcoin as payments online and also less fee, if you think of it before with its value then totally people wouldn't buy it. His idea for sure gave an impact to the market of Bitcoin as many users use BTC for many transactions, he's actually genius for that.

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Jimbo's idea is widely adopted now that even altcoins are also used to bet. he could be one of those users wanting to gamble using fiat but also encountered problems or seek anonymity.

i have no idea when BTC started to be used in online casino, BTC was always been associated as gambling coin for those that opposed its existence.

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Quote from: borovichok on April 15, 2023, 05:43:44 PM

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?

lots of limitations to use that currency (dollar) is one cause that someone creates an independent currency like bitcoin. We certainly already understand the weakness of the Dollar, so no need to debate it anymore. So if we talk about the dollar backed by bitcoin, I think its mission is impossible for the next exact 10-20 years, it could happen in a hundred years when our grandchild inherits all our bitcoins.

1 important think is only if world war 3 does not occur, because when happens the Internet and electronics has shut down because of EMP (electromagnetic pulse), and maybe take decades or hundreds of years to build the world again like today.

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Quote from: BITCOINDENMARK on April 15, 2023, 06:13:21 PM

$ backed by Bitcoin will be as big as finding bitcoin in 2010

That is not going to happen in the near future. Central banks have an easier time backing it by gold and are not doing so although China is rumored to be planning to do so. Bitcoin is too volatile as of today for it to serve as a backing.

What would not surprise me at all is if some countries decide to start mining Bitcoin. I think that will happen before they dedicate to back the currency in it, if that ever happens.
These are ideas that might seem far-fetched to many people today, but how gambling with Bitcoin might have seemed 13 years ago, and we see how important it has been in the history of Bitcoin.

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Quote from: borovichok on April 15, 2023, 05:43:44 PM

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?

I think it's not going to happen anytime soon. Bitcoin is still struggling in US economy because of some so-called experts who think that Bitcoin could be the cause of US Dollar devaluation. But in future there are some chances that United States and other countries are going to accept bitcoin as a secondary tradeable currency to fiat.

If all countries of the world accept Bitcoin as a legally tradable currency then things will be different in crypto world. The volatility of Bitcoin will not remain the same and it will be treated as an asset just like gold.

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Quote from: romero121 on April 15, 2023, 06:08:12 PM

Everything is a cyclic process. People always realise the importance later, atleast the usage have come around earlier. Because, the circulation through gambling have helped the bitcoin market progress and have some real-time usage. Though it is looked as a token developed for gambling needs and illegal transactions, the transition it have come through is really big and not all innovation were able to reach such a status in its short time period.

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

A prophecy or vision that has come to realization, the funny truth about Wild thought and ideas is that its always starts off as nothing or something thats seem impossible to achieve but hardwork and persistence pave way to massive and good results just like the way the dream of satoshi to open way to folks on how they can be the banks to their money started as nothing but now the adoption of crypto to the us dollar is growing like wild fire especially now that the banks have continued failing. If there is any means growing any stuff to a rapid growth , i think gambling is one of those means although i wont accredited the massive growth of bitcoin to gambling but atleast it played a major role and today many people are enjoying this advantage, well there isnt a casino yet in my place thats accept bitcoin as a means of payment and thats because of the crypto ban in my region but i believe like you stated its only a matter of time and bitcoin will definitely stand as the number 1 currency and it would be accepted by the government in areas that have shy away from it.

BITCOINDENMARK

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$ backed by Bitcoin will be as big as finding bitcoin in 2010

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Everything is a cyclic process. People always realise the importance later, atleast the usage have come around earlier. Because, the circulation through gambling have helped the bitcoin market progress and have some real-time usage. Though it is looked as a token developed for gambling needs and illegal transactions, the transition it have come through is really big and not all innovation were able to reach such a status in its short time period.

13 years passed and now what he had dreamt years back have come true. Soon we can expect that gambling is possible only through cryptocurrency. As of now the cryptocurrency accepted gambling platforms are much popular against the fiat based platforms.

borovichok

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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.

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?

Russia is ready to develop a new global reserve currency alongside China and other BRICS nations

Topic: Bitcoin and Gambling 13 years later.......... - page 2. (Read 295 times)