BitCasino’s Lucky Bet On Bitcoin

7 Interview Questions With BitCasino

BitCasino.io is the world’s first licensed Bitcoin Casino.  They are changing the gambling industry by allowing Bitcoin wagers, Bitcoin payouts, paying their employees in Bitcoin, and billing casino expenses with Bitcoin.

Bitcoin is rapidly changing the gambling industry as many gambling operators are choosing to accept Bitcoins. To learn more, BitcoinPriceLive conducted an interview with BitCasino.io. We asked 7 questions to the Operations Manager at BitCasino.io and got some pretty interesting answers.

Wager With Bitcoin

Wager With Bitcoin

1) What Is A Bitcoin Casino?

A Bitcoin casino is an online casino where all bets and payouts are made in Bitcoin.

2) Why Would Somebody Want To Gamble With Bitcoins?

Bitcoin allows its users more anonymity. They can deposit, play, win and withdraw instantly because there are no background checks. It is simple to use Bitcoins, and the irreversible transactions makes it easy from the casino side. With Bitcoins, we do not have to protect against fraudulent transactions.

3) How Did You Become Interested In Bitcoin?

Similar to other early adopters, I began reading about it and researching what kind of impact this new currency would have on a global scale. My understanding was that a crypto-currency could become widely adopted due to the incredible benefits of anonymity, low fees, instant transactions, and different applications. It was clear that the Bitcoin protocol would have a major impact on businesses in the future.

4) What Future Role Do You See Bitcoins Having In The Gambling Industry?

The rise of crypto-currency in the gambling industry was inevitable given the transformations we have seen in other industries. Many other peer-to-peer digital processes have shaped the digital landscape:

 

Skype:  changed the telephone industry by allowing peer-to-peer free calls on a world-wide scale

Email:  allowed for free digital communications worldwide, greatly effecting the Postal industry

BitTorrent: entertainment can be shared in an instant over the network, changing Hollywood

 

We are also seeing that the banking industry is getting upgraded to 21st century technologies. Bitcoin is the protocol which is enabling secure public transactions which are safe and irreversible. These crypto-graphic transactions can be made world-wide which is a huge advantage of Bitcoin.

 

The public blockchain allows for proof of balance, accountability, and fairness in a pseudo-anonymous state. Users are fully in control of their money, because they own the private keys to their Bitcoin wallets. There is no longer a need to hide money under the bed, or trust it to a third-party such as a bank.

 

Gambling with Bitcoins is inevitable. If something is developed which suits all industries, then entrepreneurs will see that and innovate around it. Users can make instant payments for products or services while the providers do not have to suffer from massive payment fees or fraudulent transactions. This will make the casino gaming environment better.

 

BitCasino stores the player’s funds on the blockchain which is an important factor. This allows us to payout a player’s winnings instantly, and we do not need to use a 3rd party payment processor. There are advantages for both the player and the casino. Overall, Bitcoin is a brilliant technology and we are very proud to be working with it!

5) Does The Changing Value Of Bitcoin Create Any Issues For Your Business?

The value of Bitcoin is simply a dynamic market force, based off supply and demand. We believe in the Bitcoin protocol and hence do not care what the market suggests the price should be. Our focus is to create the best gaming environment for our players.

6) Do You Pay Your Employees In Bitcoin?

Yes! Most of employees are believers in Bitcoin and have actually requested to be paid in crypto-currency. All of our company travel is now booked through CheapAir and paid in Bitcoins. For all the suppliers we deal, we request they signup with BitPay so that we can pay them in Bitcoin.

7) What Are Some Upcoming Projects You Are Working On?

Our focus is the new design for our flagship Bitcoin casino, and relaunching our Sportsbook with over 10,000 sporting events a month to bet on. The mobile version of our website is developing and we are adding new features which are unheard of in the Bitcoin gambling industry. BitCasino.io has been the first on the market with many features and we intend to keep that track record. Make sure to stay tuned for updates!

BitCasino Is Changing The Gambling Industry

This concludes our interview with BitCasino. We hope this interview provided insight into how a Bitcoin casino works.

If you are feeling lucky, give BitCasino a try!

Author: Satoshi Nakamoto

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