Do bitcoin casinos have that power to make changes in the price of bitcoin ??

universe_

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Quote from: PokerFace3 on June 30, 2016, 05:37:58 AM

As the title says !
Can i get the people attentions to this question please ?

"Do bitcoin casinos have that power to make changes in the price of bitcoin ??"

i doubt that bitcoin casinos actually have that much power to change the bitcoin price because they just get some bitcoins from other players when they lose and thats it i think

casinos can only move the price of the bitcoin if they have vast amounts of bitcoin and then they sell it all at once, maybe then the price would be dumped a little bit but not a lot

calkob

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The simple answer is no, why would they? compard to some of the whales in bitcoin they are wee fish...... Wink

0day

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No that power is not with those who do business with bitcoin, but only those can change the price of bitcoin who have a large number of bitcoin and no any other person has that much amount of bitcoin.

Doamader

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The only business that had really affected bitcoin price for a while where some exchange that had some issue with withdraws and made people panic to fast dumping their coins at the time from the 300 to 200 dollars. Casinos hold a huge amount of bitcoins they can scam and took your coins but make pressure into bitcoin price no.

Barnabe

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Is there any casino using their funds for SWAPs ? Since they have thousands of bitcoins it could reduce significantly the interest rate offered by this site. Other than that there is no way to change bitcoin price without any risk for the casino (maybe trading with the funds might do some change, but it involves a lot of risk...)

Fortify

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It's unlikely that the few bitcoin casinos around have this much sway on the rest of the bitcoin market. Unless you are adding funds or withdrawing funds, most of these places aren't interacting with the blockchain outside of those transactions. When you fund an account, those bitcoins turn into information stored in a database.

hasiramasenju

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there are only several casinos online among us could survive because have a lot active players but don't mean they will manipulate bitcoin prices i think there is no such thing and i have to say certainly not possible to bitcoin casinos have power could manipulate bitcoin prices

Tanic

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I don't clearly understand how bitcoin casinos can affect on the price of bitcoin. I think they don't have such power for now, cause too few users. But bitcoin casinos can promote bitcoin as currency. And that can attract people who will buy bitcoins for playing in casinos. So those bitcoin buyers can have power for the bitcoin's price.

randy8777

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bitcoin related casinos are just in the market to make as many coins as possible. the price is quite irrelevant in that aspect. of course they want the price to be at high levels like everyone else, but they have no power/control over the price.

avikz

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Apparently not! Casinos don't have the power to impact bitcoin price. However, if the casino owner starts selling a huge amount amount of bitcoin, then you may see a little impact though.

Frankly speaking, selling of 100-150 bitcoin will not have any impact in the market. However, a cumulative effort can do a little. But on thing bitcoin casinos can do, is that they can steal money from general people who are greedy to earn more by gambling. They always forget that "the house always wins".

PokerFace3

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Quote from: ObscureBean on June 30, 2016, 05:51:21 AM

Not sure I understand your question, make changes how? You mean using their stash of coins and money to influence the market? Or are you asking if they have the power to dictate how much 1 bitcoin is on their site without abiding by the market rate?
There are no laws that would force them to stick with market rate but they would likely lose customers if they always have higher rates.

Yes obviously i am saying about the overall market price as they can create a lot of fake pump of transaction of bitcoins with there money !
as there are many casinos up their now a days !

talkbitcoin

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Quote from: PokerFace3 on June 30, 2016, 05:37:58 AM

As the title says !
Can i get the people attentions to this question please ?
"Do bitcoin casinos have that power to make changes in the price of bitcoin ??"

no, they have no such power to do this.
bitcoin casinos are simply users of bitcoin with small amount of bitcoin compared to big players.
they don't even have enough bitcoin to be considered whales.

besides casinos are not in trading scene to be able to do anything about the price, the owner of one or two may do some trading on the side but that doesn't make casinos traders!

ObscureBean

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Not sure I understand your question, make changes how? You mean using their stash of coins and money to influence the market? Or are you asking if they have the power to dictate how much 1 bitcoin is on their site without abiding by the market rate?
There are no laws that would force them to stick with market rate but they would likely lose customers if they always have higher rates.

PokerFace3

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As the title says !
Can i get the people attentions to this question please ?

"Do bitcoin casinos have that power to make changes in the price of bitcoin ??"

Topic: Do bitcoin casinos have that power to make changes in the price of bitcoin ?? (Read 612 times)