Why is bitcoin so underhyped here?

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Last post made 4 years ago by Fedorfan
Vichapte
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  • From what i see with regards to trends, there doesn't seem to be a lot of movement under this topic. I am curious why that is as crypto seems very tempting (i am just worried about the exchange process). 

    Ideally with crypto deposits a casino cannot ask for KYC right? Otherwise that defeats the purpose. I saw a few casinos that allow crypto deposits and even offer a better odds if you deposit in crypto, is that even allowed?

  • Vichapte wrote:

    Ideally with crypto deposits a casino cannot ask for KYC right? Otherwise that defeats the purpose. I saw a few casinos that allow crypto deposits and even offer a better odds if you deposit in crypto, is that even allowed?

    Ideally yes, but the reallity shows that casinos still ask for KYC regardless. I would still use crypto knowing nearly instant transactions.

  • zuga wrote:

    Vichapte wrote:

    Ideally with crypto deposits a casino cannot ask for KYC right? Otherwise that defeats the purpose. I saw a few casinos that allow crypto deposits and even offer a better odds if you deposit in crypto, is that even allowed?

    Ideally yes, but the reallity shows that casinos still ask for KYC regardless. I would still use crypto knowing nearly instant transactions.

    Well some casinos ask it, but I have used some crypto casinos which only ask for KYC when you are trying to withdraw bigger sums. It is impossible to verify a person's age without a KYC for crypto deposits, so some ask for it just to be on the safer side. Also I guess it is a way to minimize the change of people abusing the same bonus over and over.

  • I think it is because many of the casinos on this site still accept fiat via credit card, check or bank transfer. Many fiat casinos have only recently started getting involved in crypto as they see clear benefits to it. As a result, it is gaining popularity and acceptance. Hopefully the pace of the adoption of crypto will pick up as a result.

  • Cryptocurrencies have been active since many years ago but there's still many governments and activities that prohibited it even knowing their multiple benefits. In order to attract those governments and hit a bigger market and volume of transactions, its necessary to accept some regulations, like KYC to generate confidence in the currency in the eyes of bigger personalities (government, organizations)

    It's not about loosing completely their characteristic anonymity, but find a way to handle it well for both parties

  • The governments just want there cut. The KYC process not only provides the casinos with a level of security, but it also creates a paper trail of taxable transactions that lead directly to the customer. Anonymity has no place in the world of taxable monies. 

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