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Understanding Bitcoin’s Scarcity

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Bitcoin is obviously scarce. And it seems to be becoming scarcer over time. 

But, perhaps due to the current bull run, doubts about both of these propositions are seemingly on the rise among bitcoin skeptics. Criticisms come in a few different flavors. The main one that I have seen argues that bitcoin cannot be scarce because it is highly divisible. Recently, that particular line of reasoning was subject to some particularly colorful discussions on Twitter

In this article, I want to clarify bitcoin’s scarcity. Let’s start with what the concept of scarcity actually means.

What Is Scarcity?

Scarcity is a core concept within economics. This is attested to by the concept’s frequent appearance in characterizations of the discipline. 

Thomas Sowell, for instance, characterizes economics as “the study of the allocation of scarce resources with alternative uses” in his book “Basic Economics.” 

Somewhat more elaborately, in the book “Economics,” Paul Samuelson characterizes the discipline as “Economics is the study of how people and society end up choosing, with or without the use of money, to employ scarce productive resources that could have alternative uses, to produce various commodities and distribute them for consumption, now or in the future, among various persons and groups in society. It analyzes the costs and benefits of improving patterns of resource allocation.”

Both Sowell’s and Sameulson’s characterizations borrow from the famous characterization of the discipline made by Lionel Robbins in his “An Essay on the Nature and Significance of Economic Science” in the early twentieth century: “The science which studies human behavior as a relationship between ends and scarce means which have alternative uses.”

The concept of scarcity in all of these characterizations of the economics discipline can be roughly summarized in the following way: 

Humans have a variety of wants, such as living by the beach, playing Nintendo every day, eating great food, socializing with friends, having the latest gadgets, becoming a good basketball player and so on. Both material and non-material resources are required for realizing these wants: time, money, labor, raw materials, land, mobile phones, refrigerators and so on. 

In some contexts, the resource(s) we require to achieve our wants are in abundance

For instance, everyone desires to breathe in order to live. On Earth, that just requires the air which covers the surface of our planet. While the air might be limited in a physical sense, it is essentially limitless given human wants. Hence, air is not scarce, but abundant. (One might argue, of course, that “clean air” is not abundant.)

By contrast, most human ends require resources that are scarce: that is, they require resources which are limited given all of the human wants that it might support in fulfilling. It is important to understand that we are not just talking about some physical limitation here — air to breathe is also physically limited in this sense. Instead, the resource must also be limited with regards to what humans actually desire.  

Importantly, scarcity and abundance are contextual concepts. While air might be abundant in our standard human setting, it might not be abundant for a human colony on Mars. It certainly is not abundant for a deep-sea diver. 

Similarly, while oil might generally be scarce in the modern world, it was not really scarce for most people before the 19th century when applications for it began to emerge. Farmers that discovered it on their lands probably thought it was a nuisance. 

To understand the concepts of scarcity and abundance more clearly, lets work through an example that Sowell makes in “Basic Economics”:

Many people in principle would want a house by the beach. But there is only a limited amount of land by the beach. So, even if we constructed houses on all of the suitable land next to our beaches, we would still not be able to meet everyone’s desires with respect to having beachfront property. Hence, land by the beach is scarce. Some demand for it will have to be left unsatisfied. 

But the limitations experienced from the land next to our beaches extend further. It, for example, can also be used for creating natural parks, oceanic research facilities, hotels, recreational facilities and so on. Dedicating all of the land that is suitable to beachfront property impinges on these latter human wants that are also common. 

Why is this all so important to economics? 

Scarce resources with alternative uses mandate an economic system: that is, a system which makes decisions on production and distribution in order to meet human wants. Whether a free market, a feudal system or a communist utopia, every society must make these choices given scarce resources with alternative uses. 

If resources were not scarce, there would be no need for economies or a scientific discipline to study them. Hence, the centrality of the concept of scarcity within the discipline. 

Compare various economics textbooks under a microscope and you will probably see that they do not use the term “scarcity” completely consistently. But all roughly mean something as explained above with the term and that is sufficient for our purposes. 

Is Bitcoin Scarce?

Given the characterization of scarcity above, we must conclude that practically all of the resources we commonly use are scarce. Something like air is the exception, rather than the rule. And so it should not come as a surprise that bitcoin is scarce. 

To put it fairly simply, I would be very happy with 1,000 bitcoin. My guess is that I could probably find quite a few other people that would be happy with 1,000 bitcoin. So many, in fact, that we cannot all own 1,000 bitcoins. 

Given the wide variety of ends we can achieve with our bitcoin — buying a house, a car, a holiday, storing our wealth or whatever — this desire to hold bitcoin should be obvious. All money that is in relatively common use — even if it experiences more monetary inflation than bitcoin — is also scarce. 

Importantly, the fact that bitcoin, as most other monies in common use, is highly divisible — a precondition for being decent money, I would argue — does not make it abundant. It will still be no problem to find more people that want to have 1,000 bitcoin than there are bitcoin in existence. 

Consider the following for an illustrative comparison: Suppose a group of people is walking in a desert with a bucket of water and a syringe that can easily divide that amount of water into very many, very small amounts. Does this somehow make the water non-scarce? Of course not. Surely, they have less than what they ultimately want in the burning sun. 

Bitcoin Is Becoming Scarcer

Scarcity is not just a binary concept. It seems that we can also sensibly speak of resources becoming more or less scarce. That can be the product of both supply and demand changes.

For instance, suppose that heavy earthquakes destroyed much of the beaches in a particular area, so that there is less land by the beach available. As long as demand for land by the beach stayed relatively consistent, we are fairly reasonable in stating that “land by the beach has become scarcer.”

Put differently, “less scarce” in this example just means that the amount of land relative to our desires for that land — for creating beachfront property, oceanic research facilities, hotels, recreational facilities and so on — has decreased. 

In what direction has bitcoin’s scarcity been heading? And how will it develop in the future?

At the moment, bitcoin still experiences a small amount of monetary inflation — about 2 percent per year. This was even higher in the past and has been a decreasing factor on its scarcity from the supply side. People also lose and find previously lost bitcoin. It’s difficult to state how this has impacted the historical trend of bitcoin’s scarcity. 

Sometimes bitcoin is charged with having monetary inflation through the backdoor: one can, after all, copy the code, change some parameters and start a new digital currency. That criticism, of course, makes no sense. No one would argue that printing monopoly money somehow creates monetary inflation for the U.S. dollar. 

Most importantly with regards to bitcoin’s scarcity, the desire for bitcoin has been increasing over time — though admittedly with heavy fluctuations. This growth in demand has surely outweighed any of the impact from changes in Bitcoin’s supply. Hence, bitcoin’s scarcity has been increasing with time. 

And I am somewhat expecting this trend of increasing scarcity to continue. 

Bitcoin has a transparently encoded supply function which currently has low monetary inflation, and this monetary inflation will decrease further over time. Given the strong consensus over this production function, it is unlikely to change in the future. Bitcoin also offers people new means for financial freedom and sovereignty. 

All this is fairly interesting in a world where the money supply is not particularly transparent, unpredictable and subject to extensive surveillance and control. It leads me to think that demand for bitcoin will continue to increase over time. Given the rigid supply function, I would, therefore, not be surprised to see bitcoin’s scarcity continue to increase. Many people will probably only be able to own a small amount of bitcoin in the future.  

This trend, of course, is not an inevitability. Perhaps something could still break Bitcoin’s production algorithm and produce rampant monetary inflation. Or perhaps demand will start decreasing consistently after this current bull run and never recover. While I do not deem such scenarios likely, they are surely not impossible.

Divisibility And Scarcity

We have already established that bitcoin’s divisibility does not make it non-scarce. However, we need to explore the issue a bit further, as divisibility does impact the degree of scarcity.

Imagine, for instance, that there was only one bitcoin in existence and that it was completely indivisible. That would not make for very good money, so I would expect there to be little to no demand for bitcoin in that case. Hence, bitcoin would not be as scarce as it is now.

Alternatively, suppose that there were 21 million bitcoin, but that you could not divide them any further. Suppose further that demand conditions were relatively similar to those currently dominating the market. Assuming decreasing marginal utility from bitcoin ownership, it might be the case that bitcoin is actually scarcer in this situation as compared to the current situation.

Teasing out the relationship between divisibility and scarcity for bitcoin — or really any other resource — can be a bit complicated. In any case, while we can acknowledge that the current level of Bitcoin’s divisibility impacts the degree of scarcity compared to alternatives, it is surely inaccurate to claim that the current level of divisibility negates its scarcity entirely.

Conclusion

Bitcoin is scarce. That fact is not changed by its divisibility.  

Of course, I am making those claims against the standard economic understanding of the term “scarcity.” But I think that any other reasonable sense of the term would have to draw the same conclusions. It would certainly require a rather strange understanding of the term “scarcity” to claim that bitcoin is not, in fact, scarce. One that is likely to be meaningless and unproductive for scientific analysis. 

Bitcoin scarcity also has been increasing over time, despite that the system has been subject to monetary inflation. This is because demand for bitcoin has increased over time (though admittedly with some severe volatility). 

I would expect this trend of increasing scarcity to continue, as its transparency, predictability, consensual nature, and censorship resistance make bitcoin a unique monetary asset. Though all of that is certainly not a given.

This is a guest post by Jan-Willem Burgers. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

Source: https://bitcoinmagazine.com/articles/understanding-bitcoins-scarcity?utm_source=rss&utm_medium=rss&utm_campaign=understanding-bitcoins-scarcity

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2021 OFFICIAL GUIDE: THE TOP BITCOIN CASINOS & SPORTS BETTING SITES

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2021 OFFICIAL GUIDE: THE TOP BITCOIN CASINOS & SPORTS BETTING SITES

THE TOP BITCOIN CASINOS | 2021 OFFICIAL GUIDE

The Top Bitcoin Sports Betting Sites & Casinos. Safe, Anonymous, Provably Fair Gaming. 3D Slots, Poker, Bitcoin Dice, Blackjack and more!

See: The Top 6 Bitcoin Casinos & Sportsbooks 2019

Why Bitcoin For Sports Betting?

THE TOP BITCOIN SPORTSBOOKS | 2021 OFFICIAL GUIDE

First, let’s take a look at the reasons one would choose to wager in bitcoin or Cryptocurrency over fiat (cash) in the first place. If there weren’t clear advantages to betting using bitcoin this article would both a waste of your time and ours.

Read: Bitcoin Casinos- The Future of Gambling is Here

Advantages of Bitcoin Gambling

The security and privacy advantages offered by Bitcoin make it the optimal option for sensitive financial transactions, such as funding your online sportsbook account. Find out why Bitcoin has become the most effective financial tool for sports bettors who conduct business online

Advantages of Gambling with Bitcoin Over Fiat (Cash)

Zero Third Party Oversight

Due to the restrictive nature of federal laws on sports betting, American sports bettors have few choices when it comes to legal sportsbooks. With very few options, America’s legions of sports betting enthusiasts must place their wagers through offshore online sportsbooks like 5Dimes, Pinnacle, or Bovada. While these sportsbooks usually have no issue accepting deposits from U.S. Customers, most banks will attempts to fund online sportsbook accounts.

That’s where Bitcoin comes in, as the virtual currency’s design and structure is perfectly suited to solve this dilemma. By using Bitcoin to conduct these transactions, you avoid the threat of third party oversight entirely, as the exchange involves you and the sportsbook alone.

Blockchain making online Casinos & sports betting transparent

Bitcoin’s Blockchain Means Little to No Transaction Fees

Every online sports bettor knows that you can almost always deposit to a site free of charge, but withdrawing your winnings usually incurs a hefty fee. That’s because collecting your winnings from an online sports bet typically involves paying off the middleman.

However, a lack of fees is an extension of the Bitcoin blockchain’s fundamental design. With no middlemen standing between the payer and the payee, blockchain transactions don’t cost anything at all. Most Bitcoin transactions average a “fee” of just $0.04.

Funds Get There Faster

Continuing the benefits of cashing out via Bitcoin, bettors will be pleased to note that transactions typically take just minutes to complete.

Bitcoin Prevents Identity Theft and Fraud

Rather than input your credit card number, expiration date, and security code into an unsecured website form, Bitcoin transactions require only your address, along with your private and public keys. Bitcoin is a cryptographic currency at its core, so encoded data is an essential component of the exchange process.  Even better, while a Bitcoin address can be calculated through its corresponding private key, reversing this process is impossible.

This makes Bitcoin by far the safest currency available for bettors searching for a way to load their online sports book account without sacrificing valuable private information.

TOP RANKED CASINOS
The Best Online Casinos That Accept Bitcoin & Other Cryptocurrencies

Finding Trustworthy Bitcoin Casinos & Sportsbooks

Once you’ve decided to take the plunge and use Bitcoin for your next online betting deposit, the next step is to find a Bitcoin-friendly platform. Luckily for you we have already done the legwork for you. Below you will find the Top Sportsbooks that accept Bitcoin, Ethereum, Bitcoin Cash, Monero, Doge as well as many other smaller cryptocurrencies. 

First, Read Reviews & Rankings by Top Review Sites to Make Sure You Select a Legitimate Site

There’s nothing worse than winning big and getting ready to cash out and realizing you can’t get access to your funds. That’s why it’s important to choose a respected and trustworthy site.

BEST BITCOIN SPORTS BETTING SITES 2021

The Top Gambling Site & Sportsbook Review & Rating Services 2019

CryptoClarified– a Top 10 Blockchain & cryptocurrency news blog- has ranked the Top 3rd party sites that Independently test the different online Bitcoin Casinos & Sportsbooks.

  1. Top Crypto Casinos
  2. Top Online Bitcoin Casinos
  3. Bitcoin Sports Betting Guide
  4. BitFortune
  5. Bitcoin Chaser
Top Crypto Casinos Independently Tests, Ranks & Reviews The Top Online Casinos & Sports Betting Sites that accept Bitcoin

The Top Bitcoin Casinos 2021

#1 BetChain

The Top Bitcoin Casinos 2021

Coming in at #1 (again) BetChain is an impressive casino and one of the pioneers in the Bitcoin scene. Since it was established, the casino has focused strongly on servicing the Bitcoin community. Only lately the casino has opened up its doors to traditional currencies, but its identity remains strongly defined by Bitcoin. Betchain is also re-launching its whole VIP program and refining its customer service further to offer an unprecedented gaming experience to all its clients

Even better yet.. Betchain is offering an exclusive bonus for our readers! What are you waiting for? Join Now

Exclusive Bonus : 150% Bonus Plus 200 Free Spins

BetChain’s focus on service, coupled with unique bonus offers, makes it one of the most successful Bitcoin casinos. BetChain caters to customers hailing from different regions of the world. That means that apart from English, its page is also available in German, Spanish, Russian, Italian, Portuguese, Turkish, Greek, Dutch and Swedish. BetChain also offers live chat, 24 hour customer support, and lightning quick withdrawals.

Provably Fair: BetChain emphasizes provably fairness, allowing gamers (and the casino) to verify all bet outcomes to ensure they were correct and fair.

  • Safe and Secure: BetChain uses the latest in encryption and secure servers to ensure that customers’ money is always safe.
  • 24/7 Support: Contact BetChain anytime, day or night, at support@betchain.com or through the BetChain support form.

Join Betchain Now

#2 FortuneJack

FortuneJack Best Provably Fair Bitcoin Slots Casino 2021

You can find over 1400 games from several casino game providers like iSOFTBET, Endorphina or Evolution Gaming. FortuneJack Casino has also one of the widest selection of cryptocurrencies. The Casino supports 8 cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Dash, Monero, and Zcash.

The casino is based in Eastern Europe in Georgia. The team seems to be competent, because they have made several provably fair casino games from scratch. FortuneJack Casino and the fast new casino lobby updated in May 2018.

FortuneJack Review — Pros

  • The casino has been around since 2014, so it is quite experienced Bitcoin casino
  • Excellent deposit bonuses and no deposit bonuses
  • Very good selection of over 1400 games with also live casino games
  • FortuneJack is one of the biggest and most popular crypto casinos, so the financial backup of the casino should be in order
  • The support works great
  • One house-made provably fair dice game

Join FortuneJack Now

#3 mBit

mBit Top Provably Fair Bitcoin Casino 2019

mBit is another major U.S. friendly bitcoin casino brand that have earned a stellar reputation for quality software and great customer service since they were founded in 2014 . They are based in Curacao and are fully regulated by the gaming commission there.

  • All the games at mBit were independently tested and verified for fairness by RNG.
  • mBit is now home to over 1,000 different games and new ones are added weekly.
  • Live dealer blackjack, sede, baccarat, roulette and more available for BTC or Euro.
  • Deposit instantly and for free. Sign-up takes seconds and only requires an email.
  • mBit Casino is fully functional on any Android, iPad, iPhone or Windows Phone.
  • United States of America players are welcome. Site in both English and Russian.
  • mBit have an exceptional VIP program and a 110% 1st deposit bonus to 1 BTC .

Join Now

Bitstarz

Top Bitcoin Casinos for US Residents- BitStarz

These are trusted sites that have independently tested over 50 Different Bitcoin Sportsbooks & Casinos, Placed Bets, Deposited & Withdrew Funds and finally Ranked & Reviewed the Best U.S Friendly Bitcoin Sportsbooks & Casinos.

They have also ranked the Top Sites for Mobile Bitcoin Casino Gambling & Sportsbooks that allow U.S. Residents to get in on the action directly from their smart phone or tablet.

Below you will find the Top Sportsbooks that accept Bitcoin, Ethereum, Bitcoin Cash, Monero, Doge as well as many other smaller cryptocurrencies. 

The Top Bitcoin Sports Betting Sites 2021

SPORTS BETTING SITES

From Bitcoin Sports Betting Guide

Bitcoin bookmakers are revolutionizing the world of sports betting. Many of the bitcoin sportsbooks featured on this website allow you to create anonymous accounts and wager from any part of the United States.

Thanks to bitcoin, these sportsbooks can process your deposits and withdrawals instantly, so you no longer need to wait weeks for a payout. Banking is also completely free, which means you’ll have more money in your player account. Bitcoin sports betting sites allow you to wager on every major league in the USA, UK, Europe, Australia and Asia, including the NFL, NBA, AFL and the English Premier League

Sundays just became a LOT more INTERESTING!

US Customers Can Bet on NFL Football with Bitcoin

Top Crypto Casinos, Top Online Bitcoin Casinos, Bitcoin Sports Betting Guide, independently tested over 50 Different Bitcoin Sportsbooks & Casinos, Placed Bets, Deposited & Withdrew Funds, Ranked & Reviewed the Best U.S Friendly Bitcoin Sportsbooks & Casinos.

The Top Bitcoin Sportsbooks 2021

#1 NITROGEN SPORTS

#1 Ranked Sportsbook for US Residents

Nitrogen Sports bitcoin-only sports book & casino: no sign-up required, monthly parlay promotions and 80BTC maximum bet. In addition to sports, you can play table games like blackjack and poker. The bitcoin website also offers a dice game.

Nitrogen Sports are our favorite “bitcoin only” sportsbook. Since opening their doors back in 2012, they’ve quickly established themselves as the leading bitcoin sports betting site. They are headquartered in Costa Rica and owned by IdealMedia.com

  • Easily the biggest, most established and trusted bitcoin bookmaker.
  • 100% anonymous. Nitrogen do not even ask you to provide an email address.
  • Live in-play betting available for major leagues like NFL, EPL, NBA and NHL.
  • The minimum bet limit is 0.001 BTC and the maximum bet limit is 30 BTC+.
  • Deposits are credited with zero confirmations and withdrawals process in hours.
  • The Nitrogen Sports web-app works well on iPhone, Android and Windows Phone.
  • 2-Factor Authentication available. Support provided via live chat or ticket system.
  • Nitrogen Sports do NOT offer a deposit bonus but do they run some fun promos.

Join Nitrogen Sports

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptoclarified.com/2021-official-guide-the-top-bitcoin-casinos-sports-betting-sites/

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HOW MANY BITCOIN WALLETS HOLD OVER A MILLION DOLLARS?

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How many Bitcoin Wallets are holding a million dollars or more?

The number of “bitcoin millionaires” is booming, but there’s still a lot of room for growth, which will propel the bitcoin price as well.

just over $1 trillion, new on-chain data reveals that the number of millionaire members of the bitcoin rich list have ballooned.

But what is the “bitcoin rich list” and why should you care?

The bitcoin rich list refers to the list of bitcoin addresses that hold over $1 million worth of BTC. Since January 2021, over 100,000 wallets have met the qualification. Notably, the number swelled by 400% from just 25,000 millionaires five months ago.

The number of “bitcoin millionaires” is booming, but there’s still a lot of room for growth, which will propel the bitcoin price as well.
Source

However, the list is not as large as it is often portrayed to be. And it looks like the upside has a long way to go because of two simple facts.

FirstThere are approximately 46.8 million millionaires in the world holding at least $158.3 trillion of wealth — a number of fiat millionaires that clearly dwarfs the 100,000 bitcoin millionaire wallets.

In comparison, there are little more than 100,000 addresses with over $1 million worth of BTC and only 9,370 with over $10 million as of March 2021. 

Second: The number of around 100,000 accounts holding over $1 million doesn’t mean each account is owned by a unique person. Why? Of course, individuals can own multiple bitcoin addresses.

After all, you can use on-chain analysis to find out how many bitcoin accounts exist and how much is in each account. But you can’t see who owns those accounts.

So, the actual number of bitcoin millionaires is almost certainly lower than 100,000 if you assume some of these addresses are held by the same individuals.

The small number of bitcoin millionaires (just 0.2% of the 46.8 millionaires in the world) offers a perspective that we are still in the early innings with bitcoin’s adoption rate. As more millionaires diversify a percentage of their wealth from fiat to bitcoin, the asset’s price can go even higher.

Table of Contents

ANOTHER CATALYST FOR MORE MILLIONAIRES OWNING BITCOIN IN THE FUTURE

Banks are the key catalyst that can drive up the total net worth held in bitcoin. Namely, more banks are offering institutional services for bitcoin that would allow high-net-worth clients to easily own bitcoin within their current bank accounts.https://103ac38fa8aff61e513fdc31594d81e2.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

Hundreds of smaller banks have already signed on to offer regulated funds for bitcoin. As a result, giants like JPMorgan Chase & Co. and Bank of America could face pressure to offer bitcoin to their retail banking customers.

Bitcoin is also gaining traction in the private wealth management industry, which handles trillions of dollars for high-net-worth clients.

RISE OF THE BITCOIN FUNDS

In March, Morgan Stanley, a giant in wealth management with $4 trillion in client assets, told its financial advisors that it is launching access to three funds that enable exposure to bitcoin. A few weeks later, Goldman Sachs and JPMorgan followed with their own statements about launching bitcoin services for their private clients.

Moreover, U.S. Bank, which is part of U.S. Bancorp, the fifth-largest bank in the United States, announced it would offer a cryptocurrency custody product with the engagement of a sub-custodian for fund servicing.

Bitcoin Casino Bonuses | No Deposit Bitcoin Casino Sign Up Bonuses

THE CASINO INDUSTRY, ONLINE GAMBLING & SPORTS BETTING

Betting and online casinos are cryptocurrencies’ number one use case right now. There are countless successful brands accepting billions of dollars of wagers in Bitcoin and other alts.

The reason is quite simple: gambling is an area where cryptocurrencies are often more convenient than traditional currencies. For players, deposits and withdrawals are faster and more secure. And these users enjoy greater autonomy, anonymity, and discretion as they play.

As we saw with the Robinhood / GameStop debacle, ordinary people don’t want to be at the mercy of centralised gatekeepers who can withdraw their funds or limit their purchases with a click of a button. It is the same in the gambling world – blockchain technology gives us the opportunity to offer a truly decentralised and fair experience. And if you live in a developing country and don’t yet have access to a bank account,  you can still play with crypto.

There is a big upside for the casinos, too. They get to be their own bank. This means lower fees and less fraud, so they can pass on the rewards to their players. It is no coincidence that we now see Bitcoin casinos advertising at the world’s biggest sporting events

This is a genuine use case for cryptocurrency which is booming right now. We aren’t talking about potential. The revolution has begun.

See: How Blockchain Will Disrupt the Gambling Industry

See: The Top Bitcoin Casinos

See: The Best Mobile Bitcoin Sportsbooks

THE TOP BITCOIN CASINOS & SPORTS BETTING SITES 2021

CRYPTOCURRENCY & BITCOIN GAMBLING IS A MULTI-BILLION DOLLAR INDUSTRY

One of the biggest and main markets that have benefited from the emergence of Bitcoin gambling has been online casinos. While these have existed for the better part of a decade and progressed along with many other online gambling and betting sites, Bitcoin has helped to make the online casino market even more accessible, while making depositing and withdrawing easier than ever.

Bitcoin casinos have brought brand new competition to the market, and offer distinct advantages over fiat-based online operators.

2021 will be the year of crypto gambling altcoins. Gambling is a multi-billion dollar global industry. In the US, DraftKings has grown into a 25 billion dollar company from nothing in the space of a few years. Many other gambling giants report annual profits in the billions.

It is why it is surprising to see so little representation from the sector when browsing Coinmarketcap’s top 50 coins by market capitalization.

That is starting to change. Our friends over at FunFair have recently seen their token increase rapidly in value. Others, such as $WIN, have built strong communities around great products and technology. But these coins are only scratching the surface of what is possible at the intersection of crypto and gambling. I expect to see several billion-cap gambling-focused altcoins emerge within the next couple of years.

From Bitcoingambling.io

Bitcoin bookmakers are revolutionizing the world of sports betting. Many of the bitcoin sportsbooks featured on this website allow you to create anonymous accounts and wager from any part of the United States.

Thanks to bitcoin, these sportsbooks can process your deposits and withdrawals instantly, so you no longer need to wait weeks for a payout.  Banking is also completely free, which means you’ll have more money in your player account.  Bitcoin sports betting sites allow you to wager on every major league in the USA, UK, Europe, Australia and Asia, including the NFL, NBA, AFL and the English Premier League

See: How Bitcoin is Revolutionizing the Casino & Sports Betting Industry

Bottom line: With a growing number of Apps making it much easier for users to purchase Bitcoin & Cryptocurrencies, big banks making it easier for high-net-worth individuals to buy and sell bitcoin, the number of their private client millionaires investing in bitcoin could skyrocket along with the price of Bitcoin in the future.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptoclarified.com/how-many-bitcoin-wallets-hold-over-a-million-dollars/

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BC.Game Lucky Wheel

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Bitcoin Chaser – May 10, 2021

BC.Game Lucky Wheel

BC.Game casino is an exciting casino, having been established in 2017. They offer secure crypto gambling in a sleek and modern environment, with epic promotions and a brilliant array of games. BC.Game is a highly rated cryptocurrency casino which is in a large part because of astounding banking and promotions. 

With the BC.Game Lucky Wheel players can spin and win up to an astounding 1 BTC! The spins can be done every 14 hours and hold massive bonuses for players to claim. Head over to the terms and conditions to find out even more regarding this thrilling promotion. 

There are also many other bonuses, including task bonuses, medals, and tournaments, and a Rain feature. All the games on the site have fantastic graphics and are of the highest possible quality. Sign up to BC.Game today for more adventure and excitement. 

Want to learn more about BC.Game? Check out our BC.Game casino review.

Visit BC.Game

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinchaser.com/bc-game-lucky-wheel/

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