Will There Comes A Time That All Online Gambling Sites Are CryptoCurrency Based? - page 8.

witcher_sense

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Quote from: panjul07 on September 17, 2019, 01:37:08 AM

This question is similar to "will bitcoin/crypto replace fiat in the future?" which has been discussed many times in the Bitcoin Discussion board. I have to say that crypto will never replace fiat in any type of business including gambling business. Fiat gambling business will not change to Crypto gambling business, fiat gambling may start to use crypto as an alternative payment method but fiat will be still be the main currency.
I know some people are so sure to see that there will be a time when all business are cryptocurrency based but I cant fully agree with it because I believe that fiat and crypto are not replaceable to each other.

This reasoning is very similar to when people discussed the possibility of replacing horses with cars. For thousands of years, people rode horses; no one could believe that they would ever be replaced with iron things. However, as it turned out, people preferred a more technological, faster, more convenient form of transport. Sounds familiar?

The same thing will happen with the fiat horse, it will be replaced with cryptocurrency, cryptocurrency is a computer technology car. Perhaps I argue as a crypto enthusiast, but enthusiasm helps a lot to progress.

panjul07

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This question is similar to "will bitcoin/crypto replace fiat in the future?" which has been discussed many times in the Bitcoin Discussion board. I have to say that crypto will never replace fiat in any type of business including gambling business. Fiat gambling business will not change to Crypto gambling business, fiat gambling may start to use crypto as an alternative payment method but fiat will be still be the main currency.
I know some people are so sure to see that there will be a time when all business are cryptocurrency based but I cant fully agree with it because I believe that fiat and crypto are not replaceable to each other.

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Quote from: Indamuck on September 16, 2019, 11:09:12 AM

It will never happen, most people continue to use government currency and it will stay like that. Crypto will always be a minority. I think people become too blinded by what average people do when they spend time on a niche forum like this one.

Yeah, you are right. Maybe cryptocurrency will be a new option in the gambling games for the transaction besides of fiat because people only know fiat to gamble. But soon, after people know about cryptocurrency, I think they will choose to use cryptocurrency because with cryptocurrency, they can hide their identity and they don't have to send any document to the gambling site.

mich

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I really thinks this will be the best way for the online gambling sites to move towards to
As you have mentioned there are many positive factors to support this with the obvious ones being anonymity and convenience
A few cents in fees instead of waiting days after paying $50 for a withdraw are slowly becoming something of the past

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Quote from: leowonderful on September 16, 2019, 05:57:17 PM

I could see it happening, but I really don't see crypto completely replacing all fiat gambling sites, though there might be a time where crypto gambling sites could become more popular than fiat ones. Crypto gambling's already somewhat popular from places where access to online gambling's difficult or with people that just don't want to submit KYC information to gambling sites, and I imagine crypto gambling's only going to become more popular as time goes on just for these two reasons.

I agree with that. There will always be gamblers who will use their fiat money online. But sooner or later, they will be converted to crypto users once they learned the benefits of using it in gambling. It will take time to have all those gambling sites use only cryptocurrencies, they will always leave an option for fiat currency. Traditional payment method is not easy to replace.

leowonderful

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I could see it happening, but I really don't see crypto completely replacing all fiat gambling sites, though there might be a time where crypto gambling sites could become more popular than fiat ones. Crypto gambling's already somewhat popular from places where access to online gambling's difficult or with people that just don't want to submit KYC information to gambling sites, and I imagine crypto gambling's only going to become more popular as time goes on just for these two reasons. A lot of people just don't want to get involved with cryptocurrency as well for various reasons, though, which is part of why I really don't think crypto gambling's going to completely replace fiat sites.

adzino

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If fiat gets completely replaced (which I doubt) then there is a chance that all gambling sites will become crypto currency based. But as long as fiat currency exist, fiat physical or online casinos will exist as there will be people out there who prefers fiat currency over crypto currency (it is for those people fiat currency managed to survive). So I guess both crypto based casino and fiat based casino will exist side by side.

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

Of course, there will come a time when traditional casinos will offer other ways to bet and win using cryptocurrencies, maybe it can be buying some coupon with some Btc or Cryptocurrencies and that you bet, after your change when withdrawing you can do so much in FIAT money or transfer to the Wallet. I think this option is not very far, and online games have been very successful today, for example Bspin.io offers a range of attractive games making the player with his deposit win juicy bonuses and his chances of winning are increased, because extra funds would be used that at the moment of winning would be the percentage of profit that is withdrawn and the other rest is left to continue, I think that is where the good strategy lies.

Indamuck

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It will never happen, most people continue to use government currency and it will stay like that. Crypto will always be a minority. I think people become too blinded by what average people do when they spend time on a niche forum like this one.

jake zyrus

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If cryptocurrency is widely accepted even by the government who legalizes online gambling across the world, then it is possible. And as for the players, if they really are into online gambling, at some point they'll eventually encounter crypto based. And it's a way to get to know about cryptocurrency. It still need mass adoption for it to be able to happen in the future.

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

There's a big possibility that it's going to happen if you are a fiat gambler you will make a big shift once you tried to play the Cryptocurrency gambling, that's what the experience of one of my friend, he used to play in a fiat-based gambling site and make a big shift after he experienced playing in the Crypto based game.

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

Fiat based online games will still exist eventhough that crypto based online sites will boom in the next five years. And perhaps those fiat based games will not fold, on the contrary they might open their own crypto based games just to stay with the competition.

Just like we witnessed in the bank vs crypto today, banking system won't simply die because everyone is moving to crypto. And I still think that majority of fiat based players are not comfortable with crypto as well.

swogerino

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It will be extremely difficult as the majority of people who are gamblers are Fiat players and they don’t know bitcoin and cryptocurrency at all.

Beside that the banks will fight hard against crypto so the day when this might happen is a distant one and for now we should be happy with the gambling sites operating both in crypto and Fiat.

Juggy777

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Quote from: fortunecrypto on September 14, 2019, 01:01:26 PM

That's likely going to happen, this fiat-based gambling sites will integrate cryptocurrency or they are going to lose more clients and of course, they want to cover more markets for their games, gambling is a multi-billion dollar industry just like porn and if Cryptocurrency dominated this market, there will be a lot of demands for Cryptocurrency.

@fortunecrypto I don’t even remember any online fiat based casinos, because when I had searched a while ago all I found was crypto based casinos. Even if there’re any online fiat based casinos left sooner or later they’ll accept crypto’s because gamblers love to gamble with crypto’s more. Also do you’ll think that their local laws have stopped them from converting into crypto based casinos, if yes isn’t it possible for them to get a license in a crypto friendly country?.

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Quote from: Ucy on September 15, 2019, 02:17:31 PM

This could happen but it won't be that easy
I doubt government will like the idea of competing currencies used by citizens while they're outside of its control. I think government will first try to bring everything under its control.
If they ever allow it, it will probably be on well controlled gambling platforms or with government-owned cryptocurrency/token

Well, if in your place cryptocurrency is allowed then probably it is also allowed to gamblers who used in it. The government did not care as long as it is allowed to use crypto and the company owner must pay task then they have a license to operate. Probably this is the fact that the majority(or all) gambling site was conveniently use crypto than fiat. Indeed, as what you have said that is not an easy but time will come it is really happening.

Ucy

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This could happen but it won't be that easy
I doubt government will like the idea of competing currencies used by citizens while they're outside of its control. I think government will first try to bring everything under its control.
If they ever allow it, it will probably be on well controlled gambling platforms or with government-owned cryptocurrency/token

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

Most of the gambling sites are already crypto based and people prefer to use crypto instead of fiat when playing online gambling. But some gambling sites do give the option of deposits through credit cards and they will continue to do so until fiat is fully eliminated.

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Quote from: coin-investor on September 13, 2019, 12:41:18 PM

Anonymity and popularity of Cryptocurrency are two of it's the best attraction.
And Cryptocurrency games are more transparent.
Will, there comes a time that all online gambling sites will be Cryptocurrency based?

I think for all will be impossible, we can see a lot of gambling sites already big and famous without crypto. And i think they wouldn't really care about adopt crypto as long they still have users. Maybe if all government banned gambling site and block it, and not allow people deposit with fiat, it can be possible to happen.

iamsheikhadil

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Definitely, there will be a time when not only casinos but every major payment processor would adapt crypto because of its safe, secure and anonymous character. It was crypto that brought me to gambling, and I can say, crypto has that charm to attract people. So, casinos surely know the psychological effect crypto can create Wink

Bitinity

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I dont think so.......
Fiat based online gambling will still exist as fiat will never die imho. The only best possibility is that all those fiat based online gambling sites started to integrate crypto currency as one of the payment method as what has happened since few years back where I could see some fiat gambling sites started to accept bitcoin. The main problem is, those fiat based gambling sites will still use the old terms where all players are required to verify their account by submitting identity documents and maybe selfie photo.

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