Bitcoin is the reserve currency of crypto gambling? - page 2.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: ?? on ??

Yes not gambling and porn could be something that can drive bitcoin market to quite high level. Users will love to be anonymous while playing in online casino as well as when paying to watch some camgirls and porn.

Bitcoin is perfect to recognize as gambling currency all those payment processors like neteller, skrill sucks due to limitation for gambling.

Note I don't think porn and camgirls have any significant market share of the Bitcoin economy. The economy is most speculating on altcoins and then dumping profits back to BTC, then repeat.

And depositing BTC to other gambling outlets.

The rest is just HODLing BTC as an ideological speculative investment (i.e. gambling).

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: xhomerx10 on April 25, 2016, 01:31:15 PM

Quote from: TPTB_need_war on April 25, 2016, 01:30:23 PM

Quote from: xhomerx10 on April 25, 2016, 01:29:31 PM

You forgot to mention the fallacy of your non-argument. Your point is invalid.

You forgot to make an argument.

I didn't want to cut and paste my first post into my last post. It's lazy... look up.

I don't see any argument there on your first post (in this thread). Where is the logic substantiating your allegation?

Quote from: xhomerx10 on April 25, 2016, 12:14:46 PM

You've pasted a few disjointed quotes (your own quotes I might add) from other threads together illogically concluding that Bitcoin is the reserve currency of gambling. Is this the clever new way to create new threads; cutting and pasting from old posts? Somebody call the mods!

xhomerx10

legendary

Activity: 3808

Merit: 7912

Quote from: TPTB_need_war on April 25, 2016, 01:30:23 PM

Quote from: xhomerx10 on April 25, 2016, 01:29:31 PM

You forgot to mention the fallacy of your non-argument. Your point is invalid.

You forgot to make an argument.

I didn't want to cut and paste my first post into my last post. It's lazy... look up.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: xhomerx10 on April 25, 2016, 01:29:31 PM

You forgot to mention the fallacy of your non-argument. Your point is invalid.

You forgot to make an argument. I can't provide a rebuttal to unstated logic. I can't read your mind. You actually have to state the logic of your argument.

xhomerx10

legendary

Activity: 3808

Merit: 7912

Quote from: TPTB_need_war on April 25, 2016, 01:07:16 PM

Quote from: xhomerx10 on April 25, 2016, 12:14:46 PM

You've pasted a few disjointed quotes (your own quotes I might add) from other threads together illogically concluding that Bitcoin is the reserve currency of gambling. Is this the clever new way to create new threads; cutting and pasting from old posts? Somebody call the mods!

Oh the horror of Do Not Repeat Yourself and the SPOT principles of good design.

You forgot to mention the fallacy of your non-argument. Your point is invalid.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: Quickfant on April 25, 2016, 01:14:52 PM

Most of the gambling are fiat based. As the casino has to verify the age of the gambler so as to obey laws.

I have changed the subject title to "of crypto gambling".

xhomerx10

legendary

Activity: 3808

Merit: 7912

Quote from: thejaytiesto on April 25, 2016, 12:41:38 PM

It's the best way to gamble, a dream for gamblers in fact. When I was younger, I wanted to play poker for real money, but all those sites always wanted my id, so of course I couldn't join the fun because I had problems

1) getting a bank account at my age back then (I was still in HS)
2) getting this money transferred into a gambling site
3) registering to gambling site, sending all the data, getting verified (impossible cause I was underage)

With Bitcoin I would have been able to have some poker fun in seconds and playing for real money (with fake money it was so boring). And I was not stupid and i would not do crazy gambles, I just wanted to start practicing with the feeling of playing for real money and not fake credits. I could have been playing for real money vs any player in the world in a restrictionless way. Bitcoin doesn't give a single fuck about who is using it so I could have been free to do anything.

Money doesn't give a single fuck about who it using it. Alcohol doesn't give a single fuck about who is drinking it. Your underage girlfriend doesn't give a single... wait maybe she does; my point is that it is illegal. It is not Bitcoin breaking the law here, it is you and if you wanted to find a way to break the law there would be a myriad of ways to do so. Don't use Bitcoin as a scapegoat - it can't smoke weed for you.

Quickfant

member

Activity: 128

Merit: 27

Most of the gambling are fiat based. As the casino has to verify the age of the gambler so as to obey laws.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: TPTB_need_war on April 25, 2016, 11:58:18 AM

Evidence the explosive growth of ShapeShift.io that the gambling is primarily for altcoin gambling:

Replies from others are emphasizing the use of BTC for gambling, but the keyword in my subject title is "reserve".

My point is that BTC is the unit-of-account by which everyone measures their gambling success, not fiat.

When someone gambles on an altcoin "investment" (speculation), they are hoping to get more BTC. They don't cash it out to fiat, they HODLit to gamble some more altcoin "investments". Even if you include gambling sites that accept Bitcoin, the gambler is likely HODLing their BTC gains (if any) and not cashing out to fiat.

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: xhomerx10 on April 25, 2016, 12:14:46 PM

You've pasted a few disjointed quotes (your own quotes I might add) from other threads together illogically concluding that Bitcoin is the reserve currency of gambling. Is this the clever new way to create new threads; cutting and pasting from old posts? Somebody call the mods!

Oh the horror of Do Not Repeat Yourself and the SPOT principles of good design.

Kprawn

legendary

Activity: 1904

Merit: 1074

Well Bitcoin has definitely made it a bit easier to gamble on global sites... even though some slots and games are still region specific. {NetEnd} Huh

Bitcoin will not need to be a reserve currency for online

gambling, but rather a enabler for innovation and new sites. The Bitcoin gambling sites have sprung up like mushrooms lately and they manage to bypass some strict regulatory frameworks often linked to

other regulated online gambling sites. This is not always a good thing, because some of these sites exploit gamblers, but other under cut the regulated casinos, which is good for some people. Roll Eyes

thejaytiesto

legendary

Activity: 1358

Merit: 1014

It's the best way to gamble, a dream for gamblers in fact. When I was younger, I wanted to play poker for real money, but all those sites always wanted my id, so of course I couldn't join the fun because I had problems

1) getting a bank account at my age back then (I was still in HS)
2) getting this money transferred into a gambling site
3) registering to gambling site, sending all the data, getting verified (impossible cause I was underage)

With Bitcoin I would have been able to have some poker fun in seconds and playing for real money (with fake money it was so boring). And I was not stupid and i would not do crazy gambles, I just wanted to start practicing with the feeling of playing for real money and not fake credits. I could have been playing for real money vs any player in the world in a restrictionless way. Bitcoin doesn't give a single fuck about who is using it so I could have been free to do anything.

Jasad

legendary

Activity: 1414

Merit: 1002

= jasad =

its really possible,so many new gambling site everyday,they keep grwing up and so many people interest with that,people are running for make the best gambling site with good promotions,and its make bitcoin look deserve to get special place in gambling.

xhomerx10

legendary

Activity: 3808

Merit: 7912

You've pasted a few disjointed quotes (your own quotes I might add) from other threads together illogically concluding that Bitcoin is the reserve currency of gambling. Is this the clever new way to create new threads; cutting and pasting from old posts? Somebody call the mods!

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Quote from: respawn2 on April 25, 2016, 11:54:40 AM

Quote from: GermanGiant on April 25, 2016, 11:47:20 AM

Does gambling industry require a reserve currency in the first place ?

Gambling industry requires a currency that's wild and free. Like Bitcoin

Evidence the explosive growth of ShapeShift.io that the gambling is primarily for altcoin gambling:

Quote from: http://moneyandstate.com/looting-of-the-fox/

Since its inception in the Spring of 2014, ShapeShift has been an evolving creature. What began as a quick experimental way to swap between Bitcoin and Litecoin grew into an advanced engine for the effortless exchange of all major blockchain assets, each one into the other, with no user friction. No user accounts. No signup process. It is the Google Translate of cryptocurrency.

And we’ve always been playing catch-up. Trying to build at the speed of this industry, not only along the vertical of Bitcoin proper, but along the breadth of all crypto, is a challenge.

Last Fall, we realized the “minimum viable product” server architecture established originally for ShapeShift was insufficient. We needed a professional to join the small team, and craft a scalable, and secure, server apparatus upon which our technology could grow.

[...]

In the first quarter of this year, as the market discovered what we already knew – that our world will be one of many blockchain assets each needing liquidity with the other – exchange volumes surged at ShapeShift. Ethereum was on the rise, specifically. Our infrastructure was not ready for the pace of growth. It was like riding a bicycle upon which jet engines suddenly appear full-thrust.

More details at this interview:

https://bitcointalksearch.org/topic/erik-voorhes-interview-creator-of-satoshi-dice-and-shapeshift-1447019

respawn2

member

Activity: 84

Merit: 10

Quote from: GermanGiant on April 25, 2016, 11:47:20 AM

Does gambling industry require a reserve currency in the first place ?

Gambling industry requires a currency that's wild and free. Like Bitcoin

GermanGiant

hero member

Activity: 784

Merit: 501

Does gambling industry require a reserve currency in the first place ?

TPTB_need_war

sr. member

Activity: 420

Merit: 262

Bitcoin is the reserve currency of crypto gambling:

Quote from: TPTB_need_war on April 25, 2016, 11:11:53 AM

Re: [POLL] Should Alternative Currencies Have Their Own Forum Section ?

Although philosophically I'd like to vote "yes", I voted "no" because the reality is the scams are the BTC economy:

Quote from: TPTB_need_war on April 24, 2016, 02:39:41 PM

Any way, I'd like to not see altcoins dominated only by get quick rich and not some serious attempts to fix Bitcoin's flaws and create a large adoption market. But the more I think about this, the more I realize if that ever happens it will be largely outside of this forum. This forum is a gambler's paradise. I need to remind myself that I we here are in an enclave.

Quote from: TPTB_need_war on April 25, 2016, 09:06:27 AM

Quote from: TPTB_need_war on April 25, 2016, 09:04:11 AM

Quote from: kiklo on April 25, 2016, 01:29:02 AM

At the moment, they don't really have any competition or at least any that markets their services very well.

Potentially another manipulated market such as the argument about Mt.Gox bubble upthread. We could be witnessing a cashing out from recent altcoin bubbles while buying from himself to create the illusion of a rising price while doing so as they ostensibly did for the ETH bubble, e.g. Vitalik using Coinbase to cash out from ETH -> BTC -> USD.

Free markets = decentralized markets.

When you have whales and most volume going through 1 or 2 exchanges, you don't have decentralized markets.

Quote from: TPTB_need_war on April 21, 2016, 05:22:19 PM

Quote from: opmac on April 21, 2016, 04:46:55 PM

Quote from: e-coinomist on April 21, 2016, 04:23:11 PM

Nobody invests into BTC or mining equipment anymore. When did you bought ASICs valued 10.000 USD last time? Aren't those USD you now use to buy BTC just been taken from former BTC sales?

Bitcoin cannot do without Alts, both built up a complete whole economy. Remember people are not buying/selling anything using BTC, they just gamble on Alts. Basically I do agree on BTC up causing Alts going down and vice verse. Enclosed system like two water tanks with a flexible tube connecting them.

I agree the two go hand in hand. Since alt coins are really the biggest thing you can purchase with BTC, ...

This is true. Most people don't want to trade their BTC for a non-CC asset, because this their gambling money. They can't buy mining equipment with BTC to increase their holdings of crypto-currency. This is why ICOs have become more popular than mined distribution, with the ASIC resistant Monero as an exception.

ASICs killed the mining ecosystem. This has been r0ach's point, that if the coins don't circulate, then the ecosystem dies. Bitcoin is dying. Only the altcoin circulation kept Bitcoin alive.

Topic: Bitcoin is the reserve currency of crypto gambling? - page 2. (Read 1625 times)