probably. depends on what they have been doing with their btc. At this point, all of them that have been accepting btc over the past couple of years are still up big time if they held.
if they don't hold...then they are flipping the btc daily I would suspect...so not while taking a few hits lately, should still be ok.
can definitely see someone using the volatility as reason for a stiff tho.
if they don't hold...then they are flipping the btc daily I would suspect...so not while taking a few hits lately, should still be ok.
can definitely see someone using the volatility as reason for a stiff tho.
Last I read - which was early this year, that Chinese made up like 80% of all btc transactions. the government crackdown will send btc down much further than $3500, which 20% in 3 weeks is already a huge gut check
still, even if that's not true, I still think that if BTC falls down to even $2500 - sports books would feel the punch given how much they probably took in at the peak (start of football season)
still, even if that's not true, I still think that if BTC falls down to even $2500 - sports books would feel the punch given how much they probably took in at the peak (start of football season)
Regarding the point of China, in the long run I feel that's irrelevant. A while ago there was "a scare" every other week. This and that, and that and this. Same story just a different date.
To your second point, on that I cannot comment. BAS probably knows people in the industry that knows how they're set up and what their contingency plans are for these large swings.
To your second point, on that I cannot comment. BAS probably knows people in the industry that knows how they're set up and what their contingency plans are for these large swings.
Never been a fan of Bitcoin from the Getgo , couldn't understand it, didn't want to understand it
Unless I feel it, get to pass it on and comes in a paper form, I don't want it.
Now I do follow it, and try to read as much about it when they have an article in the papers or if it pops up on the net.
I do slightly remember that the Chinese were looking into to stopping with it because they say most of the illegal activity done in China
used Bitcoin.
Today ...... They said they would Stop trading it by the end of the month.
two days ago Jamie Dimon called it a Fraud ...
compares bitcoin to tulip mania, predicting a collapse
also says, it’s a good option for murderers, drug dealers. lol
always liked Dimon ... guy is a very smart man. JMO
Unless I feel it, get to pass it on and comes in a paper form, I don't want it.
Now I do follow it, and try to read as much about it when they have an article in the papers or if it pops up on the net.
I do slightly remember that the Chinese were looking into to stopping with it because they say most of the illegal activity done in China
used Bitcoin.
Today ...... They said they would Stop trading it by the end of the month.
two days ago Jamie Dimon called it a Fraud ...
compares bitcoin to tulip mania, predicting a collapse
also says, it’s a good option for murderers, drug dealers. lol
always liked Dimon ... guy is a very smart man. JMO
I do think it's used mostly for illegal activity in US.. but illegal activity in China means something different. Chinese government goes through drastic measures to keep the money in the country. from my understanding, there are laws that put max. amounts they can spend on goods/services outside the country. Bitcoin has been the way the Chinese have got around these rules, hints the government crackdown. So that's the illegal activity and that's why Chinese have dealt in btc.
youre the smart guy here BAS.. what's your insight to this?
Do you think offshores hold extremely large balances in btc? I assume that they do. Because less bank transactions the better. It's also how they pay out in 24 hours from btc by having a balance in there...
I wouldn't be shocked if a large sports book has 50%+ of their liquid assets in BTC.
Do you think offshores hold extremely large balances in btc? I assume that they do. Because less bank transactions the better. It's also how they pay out in 24 hours from btc by having a balance in there...
I wouldn't be shocked if a large sports book has 50%+ of their liquid assets in BTC.
Well I wouldn't know what each shop is holding and not holding. It would only be a guess
I don't believe they have that many customers that use Bitcoin, taking a guess, 10-12% of their customer base uses Bitcoin
So it's very possible that their hold on a shops bitcoin balance could be well past 70%. especially if the other 90% of customers are using other
avenues from making deposits and payouts.
again just guessing ... if they are taking any LARGE amounts in bc, they might be getting some of that out.
but like you said, why make more transactions if you don't need to.
BTC off 32% from it's peak in August, off 25.4% this week alone.
Source www.OKCoin.com
Source www.OKCoin.com
well as soon as I worried betcoin is back up with completely new interface...guess it was a big time maintenance b/c it looks completely different. once logged in there is a note that the sports betting platform will be down a few more days. they needed some serious work on their live betting program anyway...
defying, i need crazy soccer leagues with a lot of livebetting so i use betcoin, cloudbet, heritage, 5dimes mostly..... all accept and payout btc
defying, i need crazy soccer leagues with a lot of livebetting so i use betcoin, cloudbet, heritage, 5dimes mostly..... all accept and payout btc
Now (1:47 pm EDT) BTC off 27.47% this week ($3344.77 spot) and Ethereum off 31.13% this week ($228.30) source www.CoinBase.com
Looks like the downside momentum is growing. This won't end well
Looks like the downside momentum is growing. This won't end well
Are you talking about just Forum gamblers ??
If we are talking about Forum gamblers, then yes i would say closer to 40%
because everywhere you turn they are talking about BC.
Short story, someone i know went to deposit at a Top tier book before football season. He used his normal way of deposit, debit card.
The book emailed him everyday, two times a day for a week telling him if he opened a bc wallet, they would give him a bonus.
Wish I kept a copy that he sent me, because the wording of it was interesting.
bottom line is books are pushing it.
BTC down another 20% (!!) overnight, to $3093.31 source www.CoinBase.com. Off over 40% from end of August!
Freefall continues, don't try to catch a falling knife here boys
Freefall continues, don't try to catch a falling knife here boys
