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Roundup: GambleMyBits & Gaming Congress Kazakhstan

Chris in Bitcoin & Cryptocurrency published on 25, July 2015

Benefits of Integrating Bitcoin

GambleMyBits Combines Security, Entertainment

GambleMyBits is a new Bitcoin casino that sets itself apart from the rest of the names on the market. It runs on a never seen before code that exhibits proprietary solutions, which are key in keeping the casino distinct and refreshing. Based in Canada, this website gives prime importance on security and is evidenced by the stringent measures like two-factor authentication and a whitelist IP protected private server. Along with the tried and tested security is the roster of Bitcoin casino games, including dice, slots, and roulette, to name a few.

“With the special code under the hood, this Bitcoin casino already demonstrated its resistance against attacks.During infancy development stages, GambleMyBits successfully defended against a brute force SSH attack with over 38,000 attempts over a three-day period.”

Gaming Congress Kazakhstan to Talk About Bitcoin

CoinGaming.io CEO Tim Heath is scheduled to talk about the key role of Bitcoin in the iGaming industry when he takes the stage at the Gaming Congress Kazakhstan on Aug. 20. The one-day conference will explore the various issues, topics, and trends in both land-based and online casinos. This will serve as the perfect venue to exhibit the benefits of integrating Bitcoin into the casino market.

“As the sole speaker whose expertise is Bitcoin gambling, Heath’s mission is to present the current state of the Bitcoin casino market, the directions of its development, and the new opportunities that have and continue to flourish through the presence of Bitcoin in the gambling industry. Attendees of Gaming Congress Kazakhstan next month can expect to learn more about the advantages of having Bitcoin onboard.”

Latin America: Next Big Thing in Bitcoin Gambling?

Latin America could just be the next region to experience the advantages of Bitcoin gambling if the recent figures of Bitcoin transactions were to use as the basis. Registering a huge spike from last June’s 478 transactions, Bitpay recorded a total of 3509 transactions for the same month this year alone. As more attention are shifting toward Bitcoin and cryptocurrency, this can be the perfect timing for the Bitcoin gambling industry to enter the market and function as one of the main gateways to spearhead the adoption. Add to this the expansion of Bitcoin exchange CEX.io to the South American countries.

“The record-breaking Bitcoin transactions among Latin American bitcoiners are a clear indication of what the future of Bitcoin gambling may be in a few months or years. Unfortunately, users in this region were troubled by the taxing and costlier processes of trading the digital currency. This, however, is bound to change as CEX.io, one of the renowned Bitcoin exchange services provider, now caters to Latin American customers through the online payment solution AstroPay.”

Coin.mx Fiasco Gives Bitcoin a Bad Name

Bitcoin exchange Coin.mx is no longer accessible as its two operators were recently arrested over the illegal operation of its company and other violations. The FBI tagged the online exchange as a ‘phony front business’ that functioned as the medium through which criminal acquired funds collected from ransomware attacks. Operators Anthony R. Murgio and Yuri Lebedev now face several felony charges.

“They knowingly exchanged cash for people whom they believed may be engaging in criminal activity. MURGIO and his co-conspirators have also knowingly exchanged cash for Bitcoins for victims of “ransomware” attacks, that is, cyberattacks in which criminals (here, distributors of the ransomware known as “Cryptowall”) electronically block access to a victim’s computer system until a sum of “ransom” money, typically in Bitcoins, is paid to them.”

Which to Prioritize: Privacy, Fairness or Speed?

Bitcoin introduced new features to the Bitcoin casino and gambling markets, but which among these—anonymous gaming, provable fairness, and quick withdrawals—are truly necessary to ensure top-notch gambling experience?

“Of the three main Bitcoin gambling features listed here, instant cashouts tend to be given a higher priority. This, however, is the case in the event that the gambling site fails to offer all mentioned features. With the advancement in developing games, solutions, and services, though, many Bitcoin casinos now forward anonymous, provably fair gaming topped by reliable and quick payments.”

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