Does Monitoring BTC Activities Affect the Casino Market?
The adoption of the land-based and online businesses of digital currency payments results in an increase in the number of Bitcoin transactions on a global level. With the growth Bitcoin has achieved since its introduction, is it not interesting to explore where in the world the highest Bitcoin consumption is?
Real-time updates of bitcoins transacted around the world would have been a promising area to develop. However, this is no longer just an idea as efforts to present the Bitcoin movements in real-time are already available online.
Bitreserve outs live visualization tool
Recently, Hasley Minor’s Bitreserve has launched a micro-site that allows users to visualize the financial patterns among the people on its platform.
Changemoney.org serves as a tool that presents the behavior of its customers through a high-definition 3D render of the world. How the currencies are stored, exchanged, and transferred are represented by color-coded meters that stem out from the country origin of the transactions.
Currently with $1.25 million stored in the Bitreserve wallet, Minor believes and hopes that his latest ventures will be instrumental in shedding light on the potential of Bitcoin and other digital currencies to become powerful resources.
However, some users pointed out the seemingly glitch in the tool. According to them, Changemoney has not shown their transactions yet when they got to try the platform.
Other than the reported problems, some users are also concerned about the objectivity of the storage platform and the data shown due to the fact that Bitreserve is still a third party.
Users okay other real-time monitoring system
Far from being interactive and aesthetically innovative, FiatLeak has its own take in presenting the global transactions using the data provided by various Bitcoin exchanges online.
Every Bitcoin transaction using any of the 18 fiat currencies like USD, CNY, RUB, EUR, and CAD are recorded and shown on the system, complete with animated Bitcoin transfers, amount, and country of origin.
When it comes to monitoring Bitcoin activity, users find this tool to function more effectively since it covers a wider market that is not restricted by a third-party platform.
How important are these tools?
Placed in the context of the Bitcoin casino market, the details shown by the real-time Bitcoin transaction monitoring tools online may suggest the countries where Bitcoin betting may or already is a hit.
The more transactions there are, the higher the chances that the region has more active users than the rest. And this presents a clear market for the industry—one that is not insignificant having generated more than 50 percent of the total Bitcoin transactions at one time.
How the current market will improve using the services of such systems is yet to be seen. What is certain now, though, is that some, if not most, of the active users also place bets on the Bitcoin casino games online.