Why Is Bitcoin Gambling Industry So Successful in the World? - page 15.

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: SvenBomvolen on May 13, 2017, 07:48:20 AM

When I gamble I havnt fear to loose too much, and even if I loose this is the signature campaign's money that I got on some easy way.

Probably this must be one of the prime reason. People have not yet started treating bitcoin as their valuable money.

Further more, gamblers are usually known for spending lavishly and when they are partnering with bitcoin payments, their spending limit goes almost unlimitedly as they are never finding any hard feeling for spending money for their entertainment alone. Then why not bitcoin+gambling combination find its success ?

Similarly, in real life I do hear people do say that they are not finding any hard feeling when they are spending with their cards but they are becoming too conscious while spending with fiats. This is the case which fixes for bitcoins too.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: Bardman on May 13, 2017, 08:43:40 AM

Quote from: piloder on May 11, 2017, 08:25:14 AM

I can't get why article is referring bitcoin as infinite in volume under number 6.

Quote

6. Infinite
Bitcoin is infinite in volume.

Bitcoin have limited supply/volume so i don't think this make any sense.

What it refers to is that bitcoin can be divided in fractions (satoshis) Right now it goes to 8 decimals, however that's not the limit, there is no limit really, should bitcoins become more valuable there is nothing limiting the decimal places we can drag it out to.

it is possible but doing so is not going to be easy. that will require another fork and as bitcoin grows bigger, reaching consensus becomes harder because it is decentralized.
although this matter seems to small to cause any problems but we can never know until we reach that stage.

Bardman

hero member

Activity: 952

Merit: 516

Quote from: piloder on May 11, 2017, 08:25:14 AM

I can't get why article is referring bitcoin as infinite in volume under number 6.

Quote

6. Infinite
Bitcoin is infinite in volume.

Bitcoin have limited supply/volume so i don't think this make any sense.

What it refers to is that bitcoin can be divided in fractions (satoshis) Right now it goes to 8 decimals, however that's not the limit, there is no limit really, should bitcoins become more valuable there is nothing limiting the decimal places we can drag it out to.

SvenBomvolen

hero member

Activity: 588

Merit: 500

I gamble with bitcoin only. With those bitcoin that my signature campaign pays me for my work. I can understand that popularity of bitcoin gambling or gambling with othe crypto. When I gamble I havnt fear to loose too much, and even if I loose this is the signature campaign's money that I got on some easy way. So everytime I lose I don't have regrets. I think there are many people just like me. That makes bitcoin gambling business to bloom.

DrGuns4Hands

hero member

Activity: 910

Merit: 550

Bitcoin gambling industry is so successful in the world because more and more people are addicted on it. It is successful because of the people who used it! They want there money to be more so that they try their luck in gambling because they believe that the money that they spend on it would become double or maybe triple.

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

Quote from: bhadz on May 13, 2017, 05:26:49 AM

Quote from: The_prodigy on May 12, 2017, 10:47:50 AM

Quote from: bhadz on May 12, 2017, 07:22:20 AM

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

Yes these is correct. People choose a way that they can earn faster than they are working out. They put a risk even though thats a very big money to lose whenever they cant win the game. Off course in bitcoin gambling nobody can identify them because gambling sites protects them. These are the major reasons why gambling makes people interested a lot.

And there's a volume of gamblers that are thinking that way so the success of the bitcoin gambling industry is very quick. They keep on hoping that it can happen to their real lives just like what happened to those few gamblers that experienced good result in gambling. And next to it is the anonymity that is giving by bitcoin.

well when it comes to earning faster, I think it's not that far from conventional casino and gambling. what separates bitcoin gambling is its security due to it being anonymous. I think that's the main reason why this industry is growing at a very fast rate. this gives gamblers so much more security than depositing from your bank account to a gambling or casino site

bhadz

hero member

Activity: 2520

Merit: 568

Payment Gateway Allows Recurring Payments

Quote from: The_prodigy on May 12, 2017, 10:47:50 AM

Quote from: bhadz on May 12, 2017, 07:22:20 AM

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

Yes these is correct. People choose a way that they can earn faster than they are working out. They put a risk even though thats a very big money to lose whenever they cant win the game. Off course in bitcoin gambling nobody can identify them because gambling sites protects them. These are the major reasons why gambling makes people interested a lot.

And there's a volume of gamblers that are thinking that way so the success of the bitcoin gambling industry is very quick. They keep on hoping that it can happen to their real lives just like what happened to those few gamblers that experienced good result in gambling. And next to it is the anonymity that is giving by bitcoin.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: ufaiz50 on May 13, 2017, 12:39:24 AM

Quote from: tyz on May 10, 2017, 11:31:49 PM

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

I don't really understand at point 5 and 6. and I think why gambling is a successful industry because it's one of the much favored entertainment in addition to gambling can also make people so addicted and also a solution for people who want to get quick rich if lucky. regardless of bitcoin or fiat money.

i think its still not good to playing gambling too often because this will trigger us to become an addicting person in gambling games and i think its not good to depend on gambling just to find a way to get quick rich. we can playing gambling but we must know that there is still a risk behind each of the games and we should know our limit when we are playing gambling. there is no need to be shame to stop the games and leave the gambling place just to safe our money and control our self.

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Quote from: Zicadis on May 11, 2017, 01:31:59 PM

Some of the reasons i believe btc gambling is successful is people want to kill two birds with one stone, the first win the house second have a bag lot of bitcoins to pay you well when price goes to the moon...its that fast of an investment industry

Every house all the money to pay to their players.This isn't any different from regular casinos.

Quote from: Zicadis on May 11, 2017, 01:31:59 PM

On of the prime reasons is the ease of access to these services with little to no customer verification's and players been able to play anonymously which opens the doors to more users.

No customer verification ? lol unfortunately it's dying now,almost all the scam casinos request verification on withdrawals.That's the new scam trend in the industry.

ufaiz50

hero member

Activity: 1666

Merit: 502

Quote from: tyz on May 10, 2017, 11:31:49 PM

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

I don't really understand at point 5 and 6. and I think why gambling is a successful industry because it's one of the much favored entertainment in addition to gambling can also make people so addicted and also a solution for people who want to get quick rich if lucky. regardless of bitcoin or fiat money.

Faiyz

sr. member

Activity: 392

Merit: 250

Dijual

Quote from: flower1024 on May 12, 2017, 06:56:34 PM

Quote from: michaelch on May 12, 2017, 06:20:38 AM

I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.

I don't think it is a good reason for bitcoin gambling industry to grow. If you buy a bitcoins using your fiat currency then you should be knowing that it is nothing but a real money unless you got these coins freely from someone. Otherwise, I don't think anyone thinks like what you said.

As written in that article, those are the few points which actually boosted bitcoin gambling industry even though there are small withdrawal fee and some delays in withdrawals.

Well i would want to se btc industry to grow but its just i would not agree if a state will use it as one of its tax payers. Cause the only threat technically in btc is it does not use taxes, just fees to cover for transactions. Because btc is a new mineral to mine for profit, many countries already built super computers just to mine the btc that has spread all over the web and it also a reason why it is fluctuation to entice more investors.

flower1024

legendary

Activity: 1428

Merit: 1000

Quote from: michaelch on May 12, 2017, 06:20:38 AM

I think many people who gamble with bitcoin do not look at it as playing with real money. Hence there is less control over how the bitcoins are used.

I don't think it is a good reason for bitcoin gambling industry to grow. If you buy a bitcoins using your fiat currency then you should be knowing that it is nothing but a real money unless you got these coins freely from someone. Otherwise, I don't think anyone thinks like what you said.

As written in that article, those are the few points which actually boosted bitcoin gambling industry even though there are small withdrawal fee and some delays in withdrawals.

Slark

legendary

Activity: 1862

Merit: 1004

This article is pretty much written by a bitcoin newbie or someone who want to convince others that Bitcoin is amazing, while in reality if has some flaws.

1. Anonymity - BTC is not exactly 100% anonymous, and if you are using gambling service without VPN/TOR you can be tracked anyway.
2. Personal information not necessary - that is correct in most cases.
3. No fees during depositing or withdrawing - not anymore, standard fee of bitcoin transaction is now around $1 (60.000 satoshi)
4. BTC gets placed into one’s account so fast - probably faster than fiat deposit but bitcoin confirmation can take up hours.
5. The currency value does not increase - WTF is this argument?
6. Bitcoin is infinite in volume - another WTF argument. I don't even know what author wanted to say here.

The_prodigy

hero member

Activity: 924

Merit: 500

Quote from: bhadz on May 12, 2017, 07:22:20 AM

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

Yes these is correct. People choose a way that they can earn faster than they are working out. They put a risk even though thats a very big money to lose whenever they cant win the game. Off course in bitcoin gambling nobody can identify them because gambling sites protects them. These are the major reasons why gambling makes people interested a lot.

beerlover

legendary

Activity: 2996

Merit: 1188

Quote from: absy on May 11, 2017, 12:39:44 AM

Our country doesn't allow gambling and it is illegal . Many people who wanted to gamble but couldn't gamble are now able to gamble because of Bitcoins and stay anonymous . Nobody asks you any questions when you are converting BTC to your local currency and hence its as easy as it gets .

Where in such area where gambling is illegal, there people are playing gambling online, but now the government is taking another step and going to restrict such site where people are playing gambling online. But I know still people are not going to stop it, they will even find other ways of playing gambling online.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Because of its anonymity that can make the gambler untraceable when they are betting on some restricted countries. and if you compare betting between real fiat and bitcoins well you can found out that fiat gambling den have higher minumum bets unlike those online gambling site where you can bet even 1 satoshi beneath on them so preferably people would go to bet on by using bitcoins since they can feel secure and do some expiremental bets on minimal amounts.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: joshy23 on May 12, 2017, 07:09:46 AM

I think there is only one answer here. Anonymity. From casual to hard core gamblers, they want to protect their identify and don't want to be exposed as being a gamblers. Additional reason is that with bitcoin, you can just deposit to any gambling site if you want to play. So you can play anytime you want anywhere as long as you have the bitcoin and internet connection. Also, the jackpot prizes that has been offered lately has really attracted a lot of gamblers worldwide to try and hit it.

yes anonymity is really help gamblers to not send their personal info to any gambling sites and they can playing gambling without using their identify. the other reason is gamblers can exchange their money into bitcoin and then make deposit into gambling site and after that they can directly playing many gambling games. gladly that todays, there many bitcoin gambling sites and they are compete with the other site to attract more member to playing gambling in their site and they also give some bonus for every new members that join in their site.

moviebuff777

sr. member

Activity: 378

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: tyz on May 10, 2017, 11:31:49 PM

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

On reason for the success in the gambling industry is that there is always a house edge. The house comes out ahead most of the time.

The other reason and maybe the main reason is that gambling draws in customers because it is exciting. It is also addictive so some people can't stop gambling. Those people will keep playing until they lose everything.

bhadz

hero member

Activity: 2520

Merit: 568

Payment Gateway Allows Recurring Payments

It is successful because:
1. The fact that there are many gamblers and people that wanted to earn fast and they saw that it can be possible with bitcoin gambling.
2. Gamblers are secured and anonymous when they are using bitcoin to gamble.
3. There are a lot of gambling sites to choose and the minimum bet is really low.
You can add with my list guys.

LastKiss

sr. member

Activity: 2156

Merit: 251

SOL.BIOKRIPT.COM

Quote from: tyz on May 10, 2017, 11:31:49 PM

I've just read an interesting article about popularity of Bitcoin gambling. The article identifies six reason why Bitcoin gambling is that successful. Bitcoin casinos started being successful in 2012. The 1st most successful casino was Satoshi Dice, which is a simple site that offers gamblers access to various dice rolling games. This surprising success sets precedent for the gambling industry. Full Article

Basically the higher HE gambling industry had the more they earn, but if only that reason they won't able to become successful they need people who play it and need good marketing skill to make it more famous. Supported by bitcoin that currency very easy to get many people start to collect them and tried to gambled.

Topic: Why Is Bitcoin Gambling Industry So Successful in the World? - page 15. (Read 5536 times)