Between Investors and Bankers, Who’s Saying the Truth about the Use of Bitcoin in the Future?October 7, 2018
Many developments have taken place in the iGaming world, but only a few of them are as influential as bitcoin. In recent years, this type of cryptocurrency has attracted the attention of many players because of the instant transfers and impressive security features. However, most experts think it’s hard to predict the future. Bankers think bitcoin won’t survive because of regulatory issues while investors seem to be more optimistic. So, who speaks the truth?
Renowned bankers are skeptical about bitcoin mainly because of government-related issues that affect currency. During a CNBC interview, JP Morgan CEO Jamie Dimon said that governments don’t support bitcoin, so consumers are susceptible to fraudulent practices and this will eventually upset governments. Dimon also argued that bitcoin is fundamentally flexible because miners generate blocks on a daily basis, and it’s difficult to predict its future value based on the fluctuating outputs. He described bitcoin as a risky venture because users might replicate it.
The fact that some bankers have argued against bitcoin does not mean that it’s valueless. Many investors think bitcoin is a lucrative investment because it’s flexible and anonymous. The use of bitcoin in Canadian online casinos is a good example. It’s hard to deposit and withdraw through legal, traditional methods, but bitcoin makes it possible to make instant transfers, so casino owners cannot hold funds. Reputable organizations and online traders have also started to use bitcoin and more people are interested in the cryptocurrency.
We support the use of bitcoin because it has gained popularity in different industries including payment services and online gambling despite what pessimists say. Skeptics might say the same thing again and again, but we are pro-bitcoin.