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This Week’s Hottest: BitCasino.io, 0% House Edge, and High Bitcoin Volatility

Chris in Uncategorized published on 6, December 2014

Round Up

0% House Edge: The Future of Online Gambling?

Bitcoin dice games have started posting house edge of 1% or less, but what if there will be no house edge at all? Amanda Johnson explored what would be the future of online gambling with zero house wins.

“It’s breaking even that may attract even more players to Bitcoin gambling. Some people who would otherwise enjoy gambling don’t play at all for fear of losing their money. And that’s understandable—when the house always wins, most players will in fact lose money in the long term…But if there’s a 0% house edge, the average person who’s just looking for some affordable entertainment can actually break even.”

BitCasino.io Levels Up, Takes on Role to Push Bitcoin’s Global Adoption

CEO Tauri Tiitsaar shared with Bitcoin Gambling Guide that running a Bitcoin casino is not as simple as hosting online games and that BitCasino.io is taking another role in the market.

“You need to make sure you are ahead of the pack, that your users are happy and you are making the innovations, not following them. The main challenge with Bitcoin is our continual effort to globally educate as many people as possible to the new digital currency revolution. Our goal, mission and responsibility, as one of the biggest brands in the Bitcoin world, is to help increase the global adoption of Bitcoin.”

How Does High Bitcoin Volatility Affect Online Gambling?

One unit of Bitcoin was trading at around US$1,000 at the same time last year, but the Bitcoin price has behaved erratically since then. Twelve months after, 1 BTC can be bought and sold for a little over $350. What is its effect on Bitcoin gambling? Daniel Nyairo expounded on the matter.

“There is a significant number of players who rarely have to exchange between bitcoins for fiat currency and vice versa…That probably makes these bettors the least worried about the change in the price of the most successful digital currency. Having said that, it is still critical to weigh your options and find a mechanism for insulating yourself from wild Bitcoin price swings.”

Apophenia to Expand Market for Its Unique Game Based on Skill, Strategy, Luck

The Bitcoin gambling market is becoming populated with Bitcoin casinos, poker rooms, sportsbooks, and other online gambling sites. Apophenia, therefore, is a breath of fresh air after its owner Konstantinos Asimakis designed a platform that allows players to directly bet on a skill, strategy, and luck game.

“You need to be able to imagine what the picture shows (skill), you need to estimate how probable it is that you know the answer and bet at the right time the right number of times (strategy) and finally you need some luck in all of the above. The luck you need is the inherent luck needed in almost all knowledge based games (think trivia-pursuit).”

How to Securely Generate a Paper Wallet for Bitcoin Wins

Keeping bitcoins in a cold storage prevents unauthorized access to your funds, and using a paper wallet instead sounds reasonable enough. However, the process of generating one may still be compromised. Daniel Nyairo presents how this is best done in order to prevent losing Bitcoin wins in a snap.

“Apart from the computer itself, peripheral devices are also a possible security weakness. For instance, the printer often keeps memories of data that it processes, and therefore, anyone who can access it physically or remotely has an opportunity to get your private keys and steal from you.”

 

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