With an undeniable eye for expansion, BitStarz is showing that it's a true trailblazer, as it now accepts both Ethereum (ETH) and Dogecoin (DOGE) for deposits and wagers. Raising the bar for altcoin acceptance and payment options, BitStarz has become one the world's first online casinos to offer support for both of these high profile cryptocurrencies.
ETH ranks as the world's leading altcoin, sec[...] Read more » BitStarz Adds Ethereum (ETH) and Dogecoin (DOGE) Support!
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Why not adding more coins. Business seems to be great over there. SO they are just making it more easy for players to deposit more of their valuable cryptocoins Would be interesting to know what happens with all these sites accepting cryptocoins, what they are doing with them. I mean they are exchanging them at once, or they are holding the coins for better prices....
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13301
these crypto coins give headaches to many people but i'm sure they quickly changed these coins because they climb or drop quickly. Is a muddy land... but as long as there are gambling and different virtual or real exchange coins, they will accept this currency. Casinos want to make profit and risk with these coins. They have nothing to do, the risk is everywhere.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Probably they have some automated system to exchange the coins as soon as they get them. They might be keeping a small amount, and then they are pushing the rest right away. This market here is too volatile to keep so many coins.
There is no doubt in my mind that all these places who are now accepting cryptocurrencies are basicaly scheming with them in the background. Wether buying or selling or mining they are more times than not probably up to no good.
Joined: Jul '10
Location: Brazil
Age: 43 (M)
Posts: 480
I SEE WITH CERTAIN RECEIVE STILL THESE ARE THINGS OF digital COINS because it is still a very new market and with several security flaws in my opinion as I do not see how to escape from this future
Joined: Nov '11
Location: Poland
Age: 37 (M)
Posts: 1081
The casinos accept the risk, because they expect something like success of the Bitcoin. If you accept risk and minimal fluctuations, you may earn a lot of cash in future. On example of BTC - in 2017 if you invest $1000 on January, you may get even $8000 in December. It's a lot of cash, especially if you have not 1 but hundreds of BTC. Return rate in virtual coins is HUGE
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 13301
of course mysik86 they can earn a lot of money because from my point of view and other people with experience or not these crypto coins will reach a high value in the near future. I'm sure of this because the world can do a lot of home transactions without going to the bank or elsewhere. The risk is great now but casinos have money and can risk.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
They are a business. One that must have a high volume of coins. I dont think they will be holding many of them. For example some coins for possible or future payouts, saving them the fees every time, from the exchange. A small amount to play in the market, and most of it turned into real currencies like USD or EUR, to be sound and safe
the next casino allowed payment in the Crypto-currency ..... I do not know if it's good or bad .... if, of course, the Crypto-currency grows, then the winnings in the casino are very profitable ... but on the example of bitcoin it is possible to lose money ..... in general This is a new game with these crypto currency
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
fcuk this cryptobullsh1t mania, why the hell would you want to make a deposit in some fictional currency that goes up and down in value more than you just happened to win at the tables when you can stick to regular currency. apart form money laundering there is no real need of cryptocurrencies
Joined: Nov '13
Location: Macedonia, The former Yugoslav Republic of
Age: 38 (M)
Posts: 229
I must to admit this is great news for us poker/casino players. In a while my 2 friends bought 3 etherium rigs with over 200mh/s and I am waiting to see their calculations about power price and etherium price. I will invest with my friends in one rig to mine over 250mh/s and I will invest my mined part in casino or poker.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
@magatt
there is big difference between blockchain technology and currently the main product coming out of it- cryptocurrencies. the technology itself is potentially a game changer, but only when major banks and or major institutions adopt it. now with he cryptocurrencies we have a product that makes no sense and serves no need apart from money laundering and other shady practices. for example why would you want to pay in bitcoin when you have dollar or euro? it's just a speculation, but not real need
Joined: Jul '10
Location: Brazil
Age: 43 (M)
Posts: 480
the world of poker and casinos are preparing for the new world-wide change that will be one of the biggest in relation to money, that's all because there comes a new dimension that will make things change a lot and we will see and learn how to mess with money in a never seen before
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
They are trying to take the banks out with this, but so far isnt happening and i doubt it will ever happen. And if you take in mind what has happened the last days, it is actually some banks that put a break on it.
But for the use of it, i agree, there is no need for it. And as for the thing about blockchain technology that i keep hearing, that will change the future, blah blah blah, i dont see a use for it too, really The more complicated things are the easiest can become to manipulate. And i believe that they have started complicating things out....
