Crypto poker sites have been gaining in popularity in 2020 and there’s no doubt it’ll continue through 2021. But what about beyond that? Will Bitcoin be around for the foreseeable future? If so, will Bitcoin in poker?
The answer depends on factors that are out of our hands..and some that we can control.
Let’s take a look.
The Future of Bitcoin & Online Poker
Bitcoin will have a future in online poker rooms as long as it has a future in general. There are several key factors to Bitcoin’s future which we should consider.
If government regulation works to weed out the scams in the cryptocurrency space while regulating crypto to a reasonable degree, then the relationship can be productive and the future of Bitcoin will look brighter.
There’s a light of hope towards the direction. The U.S. gov acting comptroller, Brain Brooks, went on CNBC’s “Squawk Box” to talk to Melissa Lee and told her to expect “clarity” on cryptocurrency in the next six-to-eight weeks. Part of that clarity is that “nobody’s going to ban bitcoin.”
“We’re very focused on getting this right. We’re very focused on not killing this,” Brooks said. “And it’s equally important that we develop the networks behind bitcoin and other cryptos as it is that we prevent money laundering and terrorism financing.”
Good crypto news sites will be covering this story as it develops. As it stands, the hint is that the future of Bitcoin in the U.S. will be a prosperous one.
Such regulation and clarity will extend to Bitcoin in Poker because it will continue to allow crypto gambling sites that offer poker to keep offering Bitcoin as a method of financing poker games.
2. Cost and Speed of Transactions.
Another strong factor influencing Bitcoin’s future with poker online is the fees and transaction times associated with using Bitcoin to fund poker rooms and withdraw winnings from them.
Currently, Bitcoin is cheaper and faster than traditional fiat when it comes to sending funds to other countries (where poker sites may be based).
However, when the price of Bitcoin rises, so too do the transaction fees. Sometimes, when a large number of people are transacting during peak volume times, the transaction speeds will also slow down.
Fortunately, the bitcoin developers working on the code base, and other developers contributing to the Bitcoin ecosystem, are also hyper-focused on reducing transaction fees and times.
We currently have the Lightning Network, a way to send even small amounts of BTC at even smaller fees and faster transaction times.
These types of developments will enhance Bitcoin’s attraction as a method of payment transfer for poker players.
3. Online Poker Needs Provably Fair Systems
Online Poker and poker rooms are not as visible and personally verifiable as real-world poker games in casinos.
Casinos in the real world are regulated and their games must be fair, or else face fines and revocation of the casino license.
Online poker rooms are not regulated. So who knows if their game is fair or not?
You can know if the game is fair or not.
When you choose a poker room, make sure they offer a system that is provably fair.
“In a provably fair gambling system, a player places bets on games offered by the service operator. The service operator will publish a method for verifying each transaction in the game. This is usually by using open-source algorithms for random seed generation, hashing, and for the random number generator. Once a game has been played, the player can use these algorithms to test the game’s response to his in-game decisions and evaluate the outcome by only using the published algorithms, the seeds, hashes, and the events which transpired during the game.”
With a small amount of effort, you can make sure that the poker games you play and fund with your hard-won BTC are being played fairly.
The combination of Bitcoin’s bright future and the technology to hold poker games to a provably fair standard should combine to ensure Bitcoin in poker remains a fun outlet in the coming years and the future ahead.
Best of luck and watch those cards while keeping your BTC close to the chest.
Bitcoin Mining Company Vows to be Carbon Neutral Following Tesla’s Recent Statement
It goes without saying that Tesla took center stage last week when the company announced it would no longer support bitcoin payments for its electric vehicles.
The message seems to have resonated, as Greenidge Generation Bitcoin Mining has vowed to be carbon neutral in 2021 and beyond.
Carbon Neutral Bitcoin Mining
After announcing plans to expand its Bitcoin mining operations last month, Greenidge is now looking to go entirely carbon neutral this year and in the future.
The company is committed to the cause, and it plans to invest in US-based renewable energy projects.
According to a recent press release, the company will also take part in the Regional Greenhouse Gas Initiative, which is a market-based program where participants sell CO2 allowances through auctions and invest the proceeds in renewable energy and energy efficiency.
Speaking on the matter was Jeffrey Kirt, the CEO of the company, who said:
“Our bitcoin mining capability is already best-in-class and seamlessly integrated with our electricity generation that powers thousands of homes and businesses. By taking the bold and unique step of making or cryptocurrency mining fully carbon neutral immediately – as opposed to some distant date in the future – Greenidge is once again leading in environmental efforts.”
Musk’s Message Resonates
Greenidge’s announcement comes days after the leading electric vehicle manufacturer, Tesla, revealed that it would no longer support bitcoin payments. As a reason for its decision, the company cited environmental concerns related to bitcoin mining.
Elon Musk, the company’s CEO, confirmed and reiterated that he is bullish on crypto but so long as it doesn’t have a negative environmental impact.
The company also said that it’s looking for ‘greener’ alternatives to Bitcoin so that it can continue accepting crypto payments. This led to many speculations about which cryptocurrency it would choose. Shortly after, Musk said that he’s working closely with Dogecoin developers to improve transaction efficiency, causing many to believe that the meme-inspired coin might be Tesla’s choice.
There is something different this time around for MATIC and ETH
MATIC’s growth has been community and developer-driven. Trading at the $1.13 level and registering 27% gain in price in the past 24 hours, MATIC’s rally is an extended one, leading the altcoin season 2.0. However, there is something different this time around, MATIC is currently rallying alongside ETH, more as an ally, than a competitor. With ETH’s price above the $3700 level, and MATIC’s rally, the alt season has offered several opportunities, consolidating alts and rallies following closely after.
Since the release of the latest transparency report on Polygon Multisigs, Polygon has become more relevant and there is increased demand for the altcoin across exchanges. Multisigs are used by top projects that have the feature of updating smart contracts. This is not the case for Ethereum, since smart contracts on Ethereum are immutable by design ie. they can not be changed once deployed.
However, this feature also means that if there is an inherent error or potential exploit in the code, there is no way to fix it. Upgradeable contracts are needed and that’s where Polygon’s narrative fits in, making it a much-needed scaling solution and an upgrade on ETH.
The current network statistics for MATIC are looking bullish since there are over 65.8 Million total transactions in over half a million wallet addresses and at $10.4 Billion market capitalization. The trade volume has increased consistently since the beginning of 2021 and more buyers are lining up across spot and derivative exchanges.
The demand for MATIC and the number of transactions have increased and are expected to increase to the level of Ethereum before the end of the alt season. The increase in wallet addresses and unique users is a direct measure of MATIC’s demand as an L2 scaling solution for the #1 altcoin in the crypto market.
The competition with ETH is no longer as intense, considering the fact that ETH’s increasing popularity contributes to the network growth and inflow of investment to MATIC. MATIC’s transaction volume largely depends on ETH’s network and the fact that ETH needs a scaling solution despite the launch of L2, has led to a symbiotic relationship between the two altcoins.
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Litecoin price prediction: Litecoin trades above $300, attempt to break below later?
TL;DR Breakdown LTC retests the $300 support overnight. Lower local low set at $320. Next support at $280. Today’s Litecoin price prediction is bearish as the market rejected further upside around $320 earlier today and currently moves lower to attempt to break below the $300 once again. The overall market trades in the red today. […]
- LTC retests the $300 support overnight.
- Lower local low set at $320.
- Next support at $280.
Today’s Litecoin price prediction is bearish as the market rejected further upside around $320 earlier today and currently moves lower to attempt to break below the $300 once again.
The overall market trades in the red today. Bitcoin has lost more than 2 percent and trades around $48.900. Meanwhile, Ethereum is among the worst performers with a loss of more than 5 percent. Alternatively, Stellar (XLM) is among the best performers, with a gain of 5 percent over the last 24 hours.
LTC/USD opened at $300.11 today after a bearish close yesterday that resulted in another retest of the $300 mark. Over the past hours, LTC/USD rejected further upside, indicating that we should see another push lower over the next 24 hours.
Litecoin price movement in the last 24 hours
The LTC/USD price moved in a range of $297.59 – $323.76$, indicating a moderate amount of volatility. 24 hour trading volume has dropped by 7.15 percent and totals $5.2 billion. The total market cap stands at $20.6 billion, ranking the cryptocurrency in 12th place overall.
LTC/USD 4-hour chart – LTC prepares to break below the $300 support again
On the 4-hour chart, we can see moving lower over the past hours as bears attempt to finally break below the $300 mark.
Overall, Litecoin price action momentum continues to be bearish as the market retraces after setting a new all-time high at $413 on the 10th of May. Previously, we saw Litecoin rally around 80 percent from the $220 major support area, indicating we could see a similar upswing over the following weeks.
First, Litecoin has to finish retracing from the current high. Support around the $300 mark was reached on Thursday. From there, Litecoin retested the $335 resistance and reversed to the $300 overnight.
Over the past hours, LTC/USD moved higher and established another lower high around the $320 mark. Therefore, we expect Litecoin to attempt to push below this support over the next 24 hours. Once the $300 support breaks, the next support is located around the $280 mark.
Since the $280 level previously acted as a very strong support, we should see the market price reverse back to the upside next week. From there, LTC/USD should move higher and try to establish another several-week upswing and set further all-time highs.
Litecoin Price Prediction: Conclusion
Litecoin price prediction is bearish as the market continues setting lower highs over the past few days. LTC/USD currently attempts to move lower once again to break the $300 support. Therefore, we expect further downside over the next 24 hours, with the next support target at the $280 mark.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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