Topic: Online Casinos that are blockchain based will have an advantage over those that (Read 474 times)
March 27, 2019, 02:47:56 PM
Eventually if bitcoin and cryptocurrencies will become more popular also casinos based on blockchain will take the lead but right now I don't see that happening. Of course blockchain based casinos have the advantage that they don't require you a KYC and also have instant withdrawals but still people are going to choose fist casinos because right now they are safer, being licensed by a government.
March 27, 2019, 02:20:46 PM
It is just a simple Darwinist approach to online casinos, nothing more. I mean it is like that in any business, if you go to a grocery store and buy stuff there for years and than a new one opens and you see better products and cheaper what do you do? You go to the new place, the old place now faces two choices, either close shop and leave (or sell) or they can just get with the times and be competitive again by selling better products for cheaper.
Online casino and blockchain is exactly like that right now, we had many online casinos before (way before bitcoin was a thing) and now with blockchain it is such a big difference that if you are not using it there is really no point on gambling on your casino neither so either you will start using it or eventually cease to exist.
Online casino and blockchain is exactly like that right now, we had many online casinos before (way before bitcoin was a thing) and now with blockchain it is such a big difference that if you are not using it there is really no point on gambling on your casino neither so either you will start using it or eventually cease to exist.
March 26, 2019, 02:56:52 PM
Yes, this is nothing but the truth.
that's why i will keep supporting the faireum.io platform
that's why i will keep supporting the faireum.io platform
March 26, 2019, 08:28:36 AM
Well it all depends on the processing of games on the site because a blockchain base casino's that have slow processing speed will not have any advantage over the normal casino that has a fast game and activities processing like deposits and withdrawal of winning.
Besides that, it will depend on the process transaction itself, if no huge transaction needs to confirm, then the transaction will be fast, and that will happen otherwise.We will see so many new gambling websites will launch because online gambling now become popular in the cryptocurrency world because with the blockchain base, will give the online gambling more benefits and one of the benefits will be to getting the profit.
Actually it is not the best reason that you give out there, any gambling site will give you profit in a long term if you can manage the marketing to get more players but if you can't then it does not profitable at all, instead you will losing some money. What I really know that blockchain games is keep on coming out is because it is much more save to have an crypto as the main currency and it can't be traced unless you are going to destroy the blockchain
March 26, 2019, 03:37:02 AM
Well it all depends on the processing of games on the site because a blockchain base casino's that have slow processing speed will not have any advantage over the normal casino that has a fast game and activities processing like deposits and withdrawal of winning.
Besides that, it will depend on the process transaction itself, if no huge transaction needs to confirm, then the transaction will be fast, and that will happen otherwise.We will see so many new gambling websites will launch because online gambling now become popular in the cryptocurrency world because with the blockchain base, will give the online gambling more benefits and one of the benefits will be to getting the profit.
March 26, 2019, 02:47:46 AM
I think the clearest reason is the fair part, I mean we do get to see how it all works and even if they somehow manage to scam users than we are always here to see they do and than react to it. You can do whatever you want as a casino and even casinos with 5% house edge which is super high can still become one of the biggest places in crypto world just because they are legit and not scamming anyone.
The moment you somehow manage to make a bit of money in ways that are not proper people all see it and prove that you are a scam and write here and let it be known everywhere WITH PROOFS and than you are done, everyone starts to withdraw their money and give you negative feedback so nobody would play on your casino. Blockchain makes companies legit or busts, that is why its so much loved.
The moment you somehow manage to make a bit of money in ways that are not proper people all see it and prove that you are a scam and write here and let it be known everywhere WITH PROOFS and than you are done, everyone starts to withdraw their money and give you negative feedback so nobody would play on your casino. Blockchain makes companies legit or busts, that is why its so much loved.
Utilizing blockchain technology in every game in the casino might really make a big difference to every player, notably their chance in winning the game. And someone already mentioned that if fortunejack saw already the potential of blockchain in the gambling industry, then, what are they waiting for? They can start this blockchain revolution and make every game harmonized by blockchain technology.
March 26, 2019, 01:46:56 AM
Well it all depends on the processing of games on the site because a blockchain base casino's that have slow processing speed will not have any advantage over the normal casino that has a fast game and activities processing like deposits and withdrawal of winning.
March 25, 2019, 02:06:05 PM
I think the clearest reason is the fair part, I mean we do get to see how it all works and even if they somehow manage to scam users than we are always here to see they do and than react to it. You can do whatever you want as a casino and even casinos with 5% house edge which is super high can still become one of the biggest places in crypto world just because they are legit and not scamming anyone.
The moment you somehow manage to make a bit of money in ways that are not proper people all see it and prove that you are a scam and write here and let it be known everywhere WITH PROOFS and than you are done, everyone starts to withdraw their money and give you negative feedback so nobody would play on your casino. Blockchain makes companies legit or busts, that is why its so much loved.
The moment you somehow manage to make a bit of money in ways that are not proper people all see it and prove that you are a scam and write here and let it be known everywhere WITH PROOFS and than you are done, everyone starts to withdraw their money and give you negative feedback so nobody would play on your casino. Blockchain makes companies legit or busts, that is why its so much loved.
March 25, 2019, 11:32:38 AM
Blockchain based casinos "will" disturb the market for sure but I feel like it is already happening...
-snip-
Hard to disagree, you basically nailed it. -snip-
But I have a feeling that this bond between crypto and gambling worlds is going to change in the not to far future.
I mean it will get weakened, day by day there are more legit ways for spending our coins. Quotas of unused coins is getting less, developers are looking for extra ways for their coins to be utilized and promoted, so casinos may experience smaller traffics.
Broad competition also adds up to the trend and we may find ourselves in reality where only two, tree major houses survives.
Nothing out of ordinary, it's usually how it goes anyway but nevertheless, fewer active casinos means looser bond of cryptocurrency to gambling industry but not the other way around.
March 25, 2019, 06:20:51 AM
Yes that is true any gambling sites that adopte blockchain will really do well in the business because it will allows for wider coverage of you system both online and offline transactions will be enable all things being equal you are at edge over your competitors.
With the growth of blockchain technology, it will give a new passion in online gambling games, and we will see in the future, there will be a much more new gambling site. People don't have a problem to play gambling because they can play in anywhere they want as long as the gambling game is not restricted. But even if it's restricted, people could still use a VPN to access the site.
The other advantage is people can buy cheap coins to play gambling, and they don't have to fill any documents just to play gambling. But if there is any gambling site that wants to apply KYC, they can move to the other gambling site which is not used KYC so they can play without revealing their identity.
March 24, 2019, 03:06:21 PM
I'm not sure that bloating the blockchain with bet transactions will result in an automatical win win situation, we have already seen with full mempool what are the limits with a general purpose crypto (btc).
March 24, 2019, 12:54:13 PM
Blockchain based casinos "will" disturb the market for sure but I feel like it is already happening, not like gambling is the same for the past decade, I mean it has definitely changed a lot. Nowadays you can't find a casino without any improvements, people are not only looking for provably fair but they are looking at dapps, investment options, lightning network or fast withdrawals (and cheap) they are basically making sure the casino is providing them with best they can or they won't play there.
If you open a casino with high withdrawal fee, slow times, no dapps, no investment, and no provably fair, you can be damn certain that you will not get any customers at all, not a chance. That is the state of casinos, you gotta use blockchain to its fullest or you will be destroyed by competition.
If you open a casino with high withdrawal fee, slow times, no dapps, no investment, and no provably fair, you can be damn certain that you will not get any customers at all, not a chance. That is the state of casinos, you gotta use blockchain to its fullest or you will be destroyed by competition.
March 24, 2019, 09:27:47 AM
Yes that is true any gambling sites that adopte blockchain will really do well in the business because it will allows for wider coverage of you system both online and offline transactions will be enable all things being equal you are at edge over your competitors.
March 24, 2019, 07:48:42 AM
Well, we can't force a person to stop playing casino games even if it is restricted in their country and he/she will be on court because of it. It is their decision to continue playing even if they know it's restricted in their country by using vpn. I think a gambling site will have an statement for the gamblers where gambling is restricted in their country or they have a very strict law for gambling which you have to follow in which the gambling site stated that gambling at your own risk. My opinion about anonimity when gambling or having a gambling site is not bad idea since the goal of "SATOSHI NAKAMOTO" for cryptocurrency like bitcoin is being anonymous. Some gambling site required KYC because of their own reason such as to avoid money laundering if there's any person who want to do it.
March 24, 2019, 05:54:24 AM
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right?
Some restriction is caused by their IP in which they are living if a country IP is ban from a gambling site. It is not a bad thing for a person if the IP of a certain country is ban.
Anonymity is the name of the game in the cryptocurrency world and people from around the world should be allowed to play in some way or another bypassing any government restriction.
But I also agree on banning the IP address if their country is against it,
After all they would just break their law if they continue and they could be on court because of it,
But it is their decission they could do it or not they could use VPN to jump their IP location.
March 24, 2019, 01:18:44 AM
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right?
Some restriction is caused by their IP in which they are living if a country IP is ban from a gambling site. It is not a bad thing for a person if the IP of a certain country is ban.
Anonymity is the name of the game in the cryptocurrency world and people from around the world should be allowed to play in some way or another bypassing any government restriction.
March 24, 2019, 12:11:36 AM
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right?
Some restriction is caused by their IP in which they are living if a country IP is ban from a gambling site. It is not a bad thing for a person if the IP of a certain country is ban.
March 23, 2019, 09:14:34 PM
The argument itself is valid. Way back 5 years ago, online gambling is running through fiat digital currencies and by far experiencing it before, I would say that transaction fees are a bit expensive and sometimes, delays do occur. I am not familiar with when did online gambling industry exactly adapted block chain technology but surely, such technology is dominating the industry itself. Gambling sites which are crypto based, dominates the world of online gambling. The population of gambling sites are continuously increasing at this moment and most of them are block chain based. More people are being able to play despite of restrictions since block chain technology secures their anonymity. Transactions with regards to deposits and withdrawals are smoother in a way that it costs less yet faster in all aspects. This makes it not surprising why many people are now getting hooked up into online gambling than in the actual. It seems to be the new era of online gambling, and surely, sheds a bright future for gamblers and to the industry as well especially once cryptos are accepted to most of the countries.
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right?Are you guys a team? I have seen many conversation between two of you. Yudai bumped an inactive thread and followed by petmalu then Yudai give another reply (always). What is the main purpose? Anyway reported all of your post which are bumping inactive thread.
March 23, 2019, 09:14:17 PM
The argument itself is valid. Way back 5 years ago, online gambling is running through fiat digital currencies and by far experiencing it before, I would say that transaction fees are a bit expensive and sometimes, delays do occur. I am not familiar with when did online gambling industry exactly adapted block chain technology but surely, such technology is dominating the industry itself. Gambling sites which are crypto based, dominates the world of online gambling. The population of gambling sites are continuously increasing at this moment and most of them are block chain based. More people are being able to play despite of restrictions since block chain technology secures their anonymity. Transactions with regards to deposits and withdrawals are smoother in a way that it costs less yet faster in all aspects. This makes it not surprising why many people are now getting hooked up into online gambling than in the actual. It seems to be the new era of online gambling, and surely, sheds a bright future for gamblers and to the industry as well especially once cryptos are accepted to most of the countries.
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right? March 23, 2019, 09:10:28 PM
The argument itself is valid. Way back 5 years ago, online gambling is running through fiat digital currencies and by far experiencing it before, I would say that transaction fees are a bit expensive and sometimes, delays do occur. I am not familiar with when did online gambling industry exactly adapted block chain technology but surely, such technology is dominating the industry itself. Gambling sites which are crypto based, dominates the world of online gambling. The population of gambling sites are continuously increasing at this moment and most of them are block chain based. More people are being able to play despite of restrictions since block chain technology secures their anonymity. Transactions with regards to deposits and withdrawals are smoother in a way that it costs less yet faster in all aspects. This makes it not surprising why many people are now getting hooked up into online gambling than in the actual. It seems to be the new era of online gambling, and surely, sheds a bright future for gamblers and to the industry as well especially once cryptos are accepted to most of the countries.
Having mentioned about the restrictions in gambling, won't it be a bad thing that those who are restricted would be able to play? I mean, they are restricted for a reason, right? Jump to: