Should Bitcoin Casino Bettors Care about the BTC Value in US Dollar?
Granted that Bitcoin is trading low against the US dollar, casino enthusiasts will not be the first to sulk and worry, mainly because this gives them a window to increase their bankroll without having to spend more. The lower the Bitcoin value in dollar is, the more coins they can buy and use as wagers on Bitcoin casino games.
Compare this to a scenario where an average bitcoiner who regards the digital currency as a form of investments. Evidently, the lower or a Bitcoin price drop translates to a decrease in his financial capabilities in the long run.
However, must they really be concerned about how a satoshi will cost in dollars? Is there a need for Bitcoin games players to constantly pattern their gambling activities on the daily exchange rate?
For the uninitiated, Bitcoin is in its fifth year of existence. The digital currency that was previously disregarded and ignored has already created a buzz around the world, even more so as it gains ground in breaking into the mainstream market.
Bitcoin adoption is increasing in the majority of the regions in the world, and it continues to become popular that some jurisdictions have already accepted that this trend called Bitcoin is here to remain for a long time. Others, however, have decided to regulate it as a response, which clearly presents the strong impact Bitcoin has.
Among its effects is the power it gives the unbanked populations to transact and save. More importantly, it creates a security blanket that will prove to be very useful in the event the US dollar finally collapses—a financial situation that experts believe to be much worse than what had happened in 2008.
Many may argue at present, though, that the Bitcoin value continues to plunge while the US dollar is faring relatively well. After all, there was once a time last year when 1 BTC cost more than $1,000. However, like any other inventions or new technology in the past, Bitcoin will also go through tough challenges before it fully stabilizes.
The Internet, which many had earlier doubted, is a fine example of this.
As more people and markets adopt Bitcoin, this digital currency will only prove that it is here to stay. Sooner than anyone thinks, Bitcoin will create a new system that will not completely eliminate the US dollar—or any other fiat currency for that matter—but one that will introduce a transparent, convenient, and universal method. Bitcoin will be, in essence, Bitcoin.
Thus, the point of reading the digital currency relative to the US dollar is something that may very well be irrelevant, even in the Bitcoin casino market where dollars are used to buy bitcoins.