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This Week’s Hottest: SealsWithClubs, P2P Online Casinos, and Bitcoinpaygate

Chris in Uncategorized published on 21, February 2015

Weekly Roundup

Raise the Alarm: SealsWithClubs Still Down After a Week

SealsWithClubs has been down for more than nine days already, and this has already caused some players to really wonder what is going on with the largest Bitcoin poker site. But should the Bitcoin gambling enthusiasts be alarmed?

“It was even announced that the site would be back up within an estimated time of two hours. Several hours and days have already passed, but the Bitcoin poker players are still left waiting for the platform’s resurrection. If there is one thing to be certain of, it would be the fact that the problem behind Seals’ mishap is a hardware failure and not hacked wallets. This is further strengthened by its ability to process withdrawals and provide its players with continuous access to their funds.”

What if Online Casinos Were Built on the Blockchain Instead?

The blockchain technology has introduced new solutions to several markets, and this incudes online gambling. The peer-to-peer online casinos that may emerge from the said technology are instrumental for the industry to offer advanced, secure, and cost-effective casinos on the web.

“Though this may sound farfetched now, inventions and applications that have arisen around the blockchain in the recent months have proven that there is much that this technology can offer. The ones that stand out include smart contracts solutions and P2P Bitcoin exchanges.

Likewise, with centralization removed and the verification of transactions and bets put in the hands of a coordinated network of nodes, there will be no need for a third party as a buffer of trust. And in the end this will bring down the cost of gambling, perhaps even more affordable than playing in a Bitcoin casino.”

Bitcoinpaygate Paves Way for Promoting Bitcoin to Consumers

Bitcoinpaygate CEO Christian Kirk Zøllner believes that Bitcoin adoption is slow due to the inability of more companies to make Bitcoin payments the easy, alternative method.

“The technological barrier to understand Bitcoin or understand why it should be used instead of a credit card is hindering the adoption. People care to pay for their goods as fast as efficient as possible and not having to learn about SHA256 before doing so. This leads us back to being an industry problem and not a consumer problem. Once we can give the consumer the same tools and improve on those tools for payment, and at the same time utilize Bitcoin as the underlying mechanism will we have actually moved the barrier.”

Indonesia Further Establishes Bitcoin Ecosystem though Bitx Expansion

Singapore-based Bitcoin exchange Bitx has expanded the coverage of its services further in Asia. Indonesia becomes the latest Southeast Asian nation to experience the trading services offered by the online exchange.

“Indonesia is a key market for us…also because of some very specific market opportunities,” said Bitx CEO Marcus Swanepoel in an online report. “Extremely low credit card penetration with massive growth in e-commerce presents particularly attractive opportunities in payment space for cryptocurrency.”

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