Bitcoin has been in the talks for more than a decade now and still occupies the sphere of discussions. It has kept that position intact despite the drawbacks the platform features, which is due to its immense popularity. Not many people are aware of the potentials of Bitcoin and other cryptocurrencies in taking the economy to a whole new level. It is an undeniable fact that the industry has witnessed several downfalls, but it also has stood back on its feet to garner more users over the years. All these concepts, including the rates and volatility of Bitcoin, has been under constant discussion over the past one decade and nothing seems to have changed. But the launch of Bitcoin was followed by an innovation that took the industry into popularity by introducing these coins to the domain of casinos.
The poker players all over the world came to know about Bitcoin before it had sprawled over the globe. Bitcoin was and is one of the best ways to invest in poker rooms, which potentially could have shifted its reputation as the staple mode of payment in poker. But there have been several instances where Bitcoin was questioned of its life in the economy, followed by an air of skepticism surrounding poker. Players would jump back to the traditional methods of cryptocurrency looks to be unstable; it would be as easy as that for them. So, the questions that baffled most poker players were about the life of Bitcoin poker and of the dying fad for the game. Let us have a look at two factors and see if Bitcoin is indeed a passing fad or a game-changer in poker.
Why do Poker Players love to Use Bitcoin?
Gamblers and online poker rooms love to stick to the transactions through Bitcoin since they are decentralized, and no form of government-approved currency is being used to play in the casino here. Online casinos were being prohibited in many parts of the world by not allowing to make transactions using the major currencies. The incorporation of Bitcoin was then a saving grace to the casino developers and avid gamblers. The speed of withdrawals and the permission to use it in unregulated markets were the most attractive features of Bitcoin poker. Since it is legal for the poker sites to accept Bitcoins, poker players love to stick to gaming with crypto.
Regulated Online Poker Could Affect Bitcoin
In many countries and several states in the US, there remains an unregulated gambling practice, which was the fuel for Bitcoin poker. But as many of these regions are planning to regulate the industry, the scope of Bitcoin to create a change in the game would come to an end. Bitcoin will also have a place in the wide range of payment methods but would be pushed back as options such as Neteller and PayPal would take over the position of the primary choice. When payment methods increase, lesser number of gamblers will invest in Bitcoin, thereby taking down the market of Bitcoin in poker. So there is a chance for it to turn out into a fad as well.