bitcoin-price-surge

High Hopes for Bitcoin in 2021 As It Soars to Record-Breaking Heights

The world of crypto was one of the few areas that were not as adversely affected by all that happened in 2020. As a matter of fact, it is safe to say that the sector even went on to balloon as more people had time to get acquainted with it and chose to go with it as a safe haven of sorts. Perhaps the biggest success story is that of Bitcoin which has been enjoying a lot of great publicity towards the end of 2020 and during the first few days of January 2021.

On Monday, Bitcoin traded at $33,365 which while still very impressive is over $1,000 short of its record high of a whopping $34,800 – the digital currency hit the record high on Sunday, January 3. Needless to say, this is a huge milestone for the digital currency especially because its current price is an increase of 800 percent from its price in Mid-March. That was right before the pandemic began to wreak havoc in many parts of the globe.

High Hopes for 2021

As the world struggles to get back to how things were before the coronavirus pandemic hit, the world of crypto seems to be gearing up for an even better year ahead. Now more than ever more people are well aware of the benefits that crypto has to offer and that seems to be driving the insatiable appetite for digital assets such as Bitcoin.

One of the reasons why Bitcoin has taken center-stage can be attributed to its supply cap which many believe is a hedge against the risk of inflation especially now as some government and central banks turn on stimulus taps. Moreover, fears of a weaker dollar have led investors to look for safe-havens comparable to gold – Bitcoin has fitted that bill for lots of them.

According to experts from Fundstrat, an independent financial research firm, all that is happening right now in the world of crypto may have already happened back in 2017. The same “parabolic rise” we witnessed back then is making a comeback albeit on a much larger scale.

“We believe the conditions remain in place for a continued rally in bitcoin and crypto more broadly over the next 6-12 months. Institutional and corporate buying, regulatory de-risking, and retail stimulus demand are factors that have led to an increase in positive momentum, which we believe can continue.”

David Grider, Fundstrat’s digital asset strategist.

For any crypto-related business, 2021 is certainly going to be an interesting year. Besides the anticipated growth, there is a lot of optimism that crypto could finally get the mainstream attention it deserves.

bitcoin-craze

Poker Players Capitalize on Bitcoin to Enhance Their Winnings

Bitcoin has been on a roll of late and it is not just crypto enthusiasts that have taken notice of the surge in the digital currency’s price. Now, several successful online gamblers have begun to capitalize on the bump by cashing out using Bitcoin from their favorite poker sites.

Some of the sites that this has been happening to include the AmericasCardroom.eu and its sister sites under the Winning Poker Network (WPN) umbrella. The renowned poker operator has had to buy millions of dollars’ worth of Bitcoin in recent weeks to cater to their users who want to cash out using the digital currency.

Winning Poker Networks Chief Executive Office Phil Naggy revealed that about 90 to 95 percent of their users are now asking for payouts in Bitcoin simply because of the rise in the cryptocurrency’s price.

“We are constantly having to go out and buy Bitcoin — lots. Lots. More than we’ve even had to before,” the CEO commented.

The high demand for Bitcoin is not entirely a new thing but it does represent some pretty interesting dynamics for the online poker sites that are involved as well as the iGaming industry as a whole.

Cause for Concern?

Even though the sites that are seeing the massive surge in Bitcoin payouts are not legally available in the United States, most of the customers are actually Americans. Now, offshore gambling is not entirely unheard of in many states even those where online poker is still illegal. However, since crypto is involved, much more can be read from the situation.

Perhaps one of the biggest concerns is that crypto enthusiasts may be using the online poker platforms as a means to evade taxation. To put this into perspective, the Winning Poker Network which is based in Costa Rica does not regulate certain aspects of their customers’ activities. The most notable one in this regard is the winning and losses – the players are allowed to file their winnings and losses on their own. There is no guarantee that they will file the right figures in this case.

Moreover, the current activities also come with some issues for the online poker operators that have integrated crypto payment methods. Bitcoin is still not considered to be fully stable, at least not yet. That said, the operators are always stuck with it regardless of the situation. As Phil Nagy points out, in cases where Bitcoin’s price drops, their uses who have Bitcoin usually send them to the operator since this is more often than not the fastest way to liquidate the digital tokens.

bitcoin-poker

Poker.com Unveils New Bitcoin-Powered Online Poker Platform

Poker.com which is arguably one of the leading online poker platforms on the planet has been trying to outdo its competitors for a very long time. This it has done by offering some of the most enticing poker features and at the end of it all, the players are the true winners. Its most recent move in this regard was the recent unveiling of a brand-new Bitcoin-powered online poker platform. That is great timing for the site since there has been a significant rise in online poker traffic.

The poker site which has been in operation for two decades has always been committed to providing its customers with the very best in terms of features. That said, the move to go all-in with crypto is set to create an even deeper sense of trust and commitment among its very loyal fanbase.

What Does the New Platform Have to Offer?

Known as Bitcoin Poker, the new online poker platform is expected to gain massive popularity among both online poker enthusiasts and members of the Bitcoin and digital currency community at large. It will bring forth all of the amazing features that many online gamblers have already seen with other crypto-based gaming platforms.

To begin with, the players will get to enjoy instant play and they will be able to do this while remaining totally anonymous. All that they will need to do is verify their email addresses and dive into the poker action.

As if that is not enough, the players will also have access to superfast deposits and payouts thanks to the Bitcoin network. The poker operator is already very popular for offering some of the most reliable and seamless payment processing in the industry but, still that the addition of Bitcoin will be a much-needed step up.

Aside from the speed of transactions, players can also look forward to other amazing perks including:

  • Low transaction fees for the room and you
  • Private, anonymous poker, no personal details needed, no bank or cc statements
  • Highly secure deposits in minutes
  • Rapid cashouts
  • Freedoms from banks and governments.

The Platform’s New Affiliate Program

Bitcoin Poker is not the only thing that Poker.com customers have to look forward to. The company has also recently announced a 50 percent revenue share for all of the new members of its mind-blowing affiliate program. This revenue share deal will remain in place for a whopping three months for each of the new partners who join.

It goes without saying that in the very dynamic world of online gambling, such developments are always monumental to the growth of individual companies and the industry as a whole. Poker.com customers will certainly have a lot to enjoy but it won’t be long before other players in the industry also respond by introducing equally competitive products and features.

crypto-poker-chips

The World of Crypto and Poker in 2020 And Beyond

Poker remains to be one of the most popular games on the planet and this is set to be the case for a very long time. No other games come even close to offering the thrill and excitement that poker offers its customers. Now, things are about to get even better thanks to the entry and subsequent integration of crypto technology.

While digital currencies and the associated technologies are still seen as novelties by many people, they have evolved tremendously over the years to become among the most popular topics on the planet. A revolution in the way that we perform transactions is imminent and one of the industries that will benefit will be the gambling industry. This is because the sector was among the very first ones to adopt crypto technologies in a bid to improve service delivery. The gaming industry has capitalized on the benefits that can be derived from the use of bitcoin and other cryptocurrencies as well as supporting technologies such as the blockchain and smart contracts.

How Will It Impact Online Poker?

Already, there are a decent number of online poker operators that are utilizing digital currencies. These companies are now essentially proof of concept for the benefits of using crypto for banking. Some of the most marketed benefits include security, safety, speed, flexibility, and even anonymity. Decentralization plays a huge part in this and it ties in very well with the accessibility that online poker operators are working hard to keep offering.

The shift towards online poker operations that support crypto payments has already begun albeit on a rather small scale – it is picking up the pace though. Digital currencies may have grown tremendously popular but there has been a bit of a slowdown in terms of mainstream rollout. The gaming industry does not seem to be suffering from the same problem since it is known for being very experimental as an early adopter of technologies.

Giving Users Full Control

At the end of the day, this seems to be the most important factor for many online poker players. By eliminating the middleman, online poker operators will allow the users to have more control over how they spend their money. Speed, safety and security are the core consideration in this case. A number of projects were already in the pipeline by the time 2019 was coming to an end with more set to come into play this year. There are lots of crypto-powered online poker sites available right now. You might want to get acquainted with them as soon as possible. Why? They are the future.

crypto-currencies

New Digital Currencies on the Horizon

The world seems to be slowly warming up to the idea of digital currencies. Already, there have been a couple of institution-backed efforts to introduce newer kinds of digital currencies such as Facebook’s Libra and while many of them are yet to take off in major ways, there is a lot of enthusiasm about them.

Manny Pacquiao Releases His Own Cryptocurrency

Philippine celebrity boxing champion turned politician and singer Manny Pacquiao has recently launched his own cryptocurrency with the support of a number of private investors including Michael Owen who is an ex-Liverpool and England soccer star and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family. He is clearly very serious about this token.

Referred to as the ‘Pac’, the digital currency or token has already been listed on n Singapore’s Global Crypto Offering Exchange (GCOX) which means that fans can buy merchandise and interact with the Filipino boxer on various social media platforms. Jeffrey Lin, the Founder and CEO of the Global Crypto Offering Exchange (GCOX), has been quite welcoming to the idea and has even said that Pac will not only raise money but will also build a token ecosystem.

As it turns out, Manny is not the only one who has had his sights set on the world of crypto. American singer-songwriter Jason Derulo is also reportedly planning to launch his own cryptocurrency on GCOX.

China’s State-Backed Digital Currency Coming Soon

Meanwhile, China is also reportedly on the verge of launching its own cryptocurrency sometime in the next few months. When it launches, the new currency will initially be issued to a total of seven institutions. These institutions will include the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China, Alibaba and Tencent; and Union Pay, an association of Chinese banks – they will be tasked with dispersing the cryptocurrency to the over 1 billion Chinese citizens as well as to any party doing business in the country’s fiat currency.

Speaking on behalf of the People’s Bank of China (PBOC), Mu Changchun, its deputy director, has revealed that the new digital currency will use a two-tier system. The first tier will connect the Chinese central bank with commercial banks while the second tier will connect the commercial banks to the retail market.

It is, however, worth noting that the currency will not be a ‘cryptocurrency’, at least not in the traditional sense. A report by Binance states that central authorities will be able to gather information and unlike other cryptocurrencies such as bitcoin, it will be “fully non-anonymous”.

facebook-libra

Is Facebook’s Libra The Future of Cryptocurrency?

Mid last month, Facebook finally revealed the details of Libra, its digital currency that will allow users to not only make purchases but also send money to each with close to zero costs. On paper, the cryptocurrency is a near perfect iteration of the concept of digital currencies especially because it bears many of the traits of ideal cryptocurrencies while at the same time being backed some of the top players in the financial sector. Yes, that is right. Libra will not be under the full control of Facebook – instead, the company will have just a single vote in the governance of the currency alongside other members of the Libra Association who will include Uber and Visa among others, each of whom have invested no less than $10 million in the project.

The Libra Association will be responsible for the promotion of the open-sourced Libra Blockchain and eh developer platform with the Move programming language in addition to signing up various businesses to accept Libra for various payments. Libra users will be able to use pseudonyms to buy or cash out their Libra both online and at grocery stores after which they can choose to spend it using third-party wallets apps or the Calibra wallet that was created by Facebook themselves.

What This Means for Bitcoin

Ever since it was announced, Libra has generated a tremendous amount of hype and this makes it less of a competition for other digital currencies like bitcoin. In fact, the international debate over Libra has, in a way, elevated the conversation around digital currencies as a whole and since bitcoin is the most popular one, a lot of attention has been shifted towards it.

Furthermore, regardless of how everything turns out for Facebook’s Libra, it will be a confirmation that blockchain-based solutions will definitely have a lot to do with the future of currency.

Lawmakers Ask Facebook to Freeze Libra Project

Barely a month after its announcement, Facebook’s Libra seems to have finally met its first hurdle after United States lawmakers formally called on the company to halt all development of the project. The House Democrats who sent the letters said that the company will need to wait until both Congress and the regulators get time to formally investigate the possible risks that the digital currency poses to the world’s financial system.

“If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability. These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past,” Rep. Maxine Waters (D-CA), the chairwoman of the House Financial Services Committee wrote in the letter.

The Facebook executives have not responded to the letter but when they do it is speculated that they will be able to able to offer clarifications some very important issues especially with regards to the potential risks to data privacy. It is even more serious in this case since Facebook has a rather skewed reputation when it comes to data protection.

blockchain-poker

A Review of Blockchain Poker: Is This It?

Online gambling has been around for a very long time now but the level of innovation in the sector puts many other industries to shame. This is mostly because the gambling industry has shown time and time again that it is more than willing to try out new and risky ideas in a bid to appeal to the newer generation of players while at the same time cashing in on new gaming verticals.

Some of the areas where online poker and online casinos have been focusing on in the past couple of years include digital currencies and blockchain technology. At this point in time, it would be an understatement to say that the blockchain has had its fair share of success with online gambling. In fact, the technology has solved so many issues that previously plagued online gambling activities – these include such aspects as biased gameplay, unfairness by some operators, lag timings and even slow transactions, all of which have now been improved significantly.

That said, more and more blockchain-powered gaming applications are beginning to rise and Blockchain Poker is one of the more interesting ones that players will come across on the internet. Not only is this online platform a great place to try out your luck at gambling but it is also a near-perfect version of the older generation of online casinos. In other words, it delivers on some very vital promises. For instance, all the transactions are secured, not biased in any way and are very secure.

What It Offers

Transaction speeds aside, Blockchain Poker gives poker players the opportunity to play using bitcoin (BTC), Bitcoin SV (BSV) and Bitcoin Cash (BCH). In essences, the blockchain-powered online gambling platform was “built to be a fun, easy way to help get more people using Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV)!”

Unsurprisingly, while this platform is geared towards giving poker players the convenience of playing on an improved version of an online gambling site, the aim of the project is to facilitate further growth of the crypto community and ecosystem. What better way to do this than by showing people just how useful blockchain applications can be?

More Features

One of the most notable features that Blockchain Poker offers is the ability to instantly enter into No-Limit Texas Hold’em cash games or tournament using bitcoin. For these games, anonymity is guaranteed since the players are not required to sign up. The platform further award free satoshis to new players.

Moreover, Blockchain Poker also offers some very lucrative rake caps and rake backs thus giving the players a better chance to build their bankroll.

wagerr

Online Crypto Sportsbook and Gambling Platform Goes Beta

Wagerr, a new generation online cryptocurrency sportsbook and gambling platform has recently opened access to its 3.0 testnet in private beta, that is, this is now available to a small group of customers – 50 to be more precise. The expansion will allow the core group of valued users within the crypto community to test the company’s new 3.0 mainnet fork before it is finally released.

Wagerr’s new version 3.0 upgrade includes a complete redesign of the website interface and the backend betting protocol – these are meant to not only improve scalability but to also assist in making the overall system much more efficient than it was before.

More About Wagerr

Wagerr is a decentralized online gambling platform that touts itself as the blockchain for betting. The platform uses its native WGR token to facilitate payments made within the Wagerr ecosystem thus providing its users with fast, extremely affordable and effortless payouts – the token is a proof-of-stake coin which uses coin “weight” and a randomization system to calculate the chance of rewards staking. To provide its users with the highly secure and fair betting services it boasts of, Wagerr utilizes various forms of blockchain technology including master nodes and smart contracts. In addition to that, the gaming platform has recently made significant upgrades to its Oracle Masternode system.

Oracle master nodes use Application Specific Smart Contracts (ASSC) to ensure both stability and security on the network and this, in turn, provides platforms such as Wagerr with a secure and decentralized network that assists in keeping the sportsbooks updated while also verifying the bets made through the smart contracts. Moreover, the system includes a revenue model that allows the customers to make a bit of additional income through the Wager platform by becoming one of the masternodes on the Oracle system.

Lightning Spin Becomes First-Ever LApp to Sell

In other stories, Rui Gomes, the creator of Lightning Spin which is one of the pioneering Bitcoin Lightning Network’s pioneering lightning applications (Lapps) also recently announced that he was selling it. With the Lapp players “could pay 6¢ for a single spin, (1 BTC was around $6,000 back then) and withdraw your winnings in seconds — something that would be impossible with the fiat system and would be increasingly difficult on Bitcoin’s base layer.”

While very little details have been disclosed about the buyer of the gaming app, Gomes assured fans of the game that the new owners shared his vision and therefore they can expect the same features and perks as they did before.

swc-poker

SwC Poker: The World’s First True Bitcoin-Only Poker Game

As much as the crypto buzz may have dwindled a little over the last few months, there are still tons of innovative ideas being floated around and implemented in a bid to get both blockchain and digital currencies to be massively adopted. The use-cases have grown immensely but there is still a lot to be done in order to propel further growth which means that the industry needs all the help it can get. Fortunately, one of the industries that have been taking the concept of bitcoin and blockchain very seriously has been the gambling industry.

However, despite all the innovations in the crypto-gambling scene, most operators have been forced to keep one foot out of the fold – even though several online gambling websites have integrated crypto onto their platforms, very few of them have completely tokenized their services. Now, SwC Poker is changing the narrative by becoming the very first gambling service provider to go all in on bitcoin gambling with the tag line “No Banking, Only Bitcoin”.

Bitcoin 3.0

Launched in March 2015 following the shutdown of SealsWithClubs over some ethical issues, SwC Poker builds upon its predecessor’s ethos as well as data which included usernames and krill amounts. This basically means that some of the things that the site focuses on are anonymity, fast cashouts, and, of course, significantly low rakes. The concept of decentralization is also very important to the internet-based organization which has its server geographically distributed across the US hence its popularity among crypto enthusiasts and online poker players.

Moreover, in November last year, the company relaunched the amazing “Bitcoin Poker 3.0” and since then its customers have been treated to one of the most stable online poker experiences. Regardless of whichever device or operating system you may be using, the poker experience will be nothing short of exceptional.

Not only is the site now accessible from virtually anywhere in the world, but is also much easier to register on it and begin playing. As expected, in addition to a robust web-based client, the online poker platform also offers the users the luxury of downloading platform-specific software and apps – the experience is, fortunately, streamlined across all of the devices.

To register, all that is required is an email address but even though the site puts a lot of emphasis on anonymity, it also offers two-factor authentication for some important actions like making withdrawal or logging in.

Some of the other features that players should look forward to including 24/7 freerolls, a number of lucrative tournaments as well as the recently introduced Bad Beat Jackpot – the latter is a no-limit hold’em cash game that builds a jackpot fund using the normal rake amounts.

crypto-poker

Is BTC Gambling Still a Lucrative Investment Opportunity?

Bitcoin and digital currencies, in general, have become quite appealing as business prospects which was not the case just a couple of months back. Despite recent declines in the overall value of most digital currencies, the crypto industry is on a rather consistent upward trend. In many ways, the industry has seemingly gotten to the point where it can be said to be ripe for investment and exploration – a number of these are already underway. This is especially true for the gambling industry which is among the very first industries to adopt various crypto-related innovations. If history is anything is to go by, then this is a sign that crypto will be vital in the quest to boost returns for the gaming industry.

What 2019 Has in Store

Well, according to a number of experts, 2019 is going to be the year of next level application of bitcoin, and other digital currencies, in the gambling market. These projections mainly rely on the trends and forecasts for both markets that indicate several extensive changes that will come into effect by the second quarter of the year. This steady growth trend is expected to go on for the next two years with the areas expected to see the most changes being mobile gaming, sports betting and live online gaming.

Online casinos and online poker operators stand to reap the most from the integration of crypto technology and mainstream consumer technology. The trends indicated by these projections and forecasts are going to peak in 2019 which means that we might actually get to see fully-fledged applications taking advantage of the untapped potential of the crypto market. That said, it is safe to conclude that despite the ups and downs of the cryptocurrency space, it was always bound to rise above all that.

Blockchain Poker Tournaments

Last year we got to see the very first blockchain poker tournament that highlighted the three-day World Crypto Conference and was hosted by Las Vegas-based Aria casino. The tournament brought together live poker action that was powered by blockchain technology, making it the first to show off the full potential of blockchain and crypto technology in the gambling space. Poker players should expect more of these in 2019.

Prior to the inaugural blockchain poker tournament, there were already a number of established online poker brands including Virtue Poker that were already using decentralized smart contracts to manage their data. Even though the technology is still far from being perfected, players have grown to love the idea of their data and gaming application being managed by decentralized platforms primarily because the technology helps in reducing the possibility of site fixing and the use of poker bots.