Online Gambling Industry Keeping Bitcoin Alive

Published Monday, May 19, 2014 - Online-Casinos.com
Online Gambling Industry Keeping Bitcoin Alive

The financial segment of the online gambling industry has always been a vital key to making the system viable. Online transactions have been the norm for many years now and are considered relatively safe by those who use the internet for their banking needs. The government of the USA has been a motivated force when it comes to keeping the financial transactions for gambling on the up and up, making sure of course the tax man gets what is coming to him.

The news over the last few years has been about how the Department of Justice in the States has put away the money men that have been servicing the illegal online gambling industry in America. Everything seems to be working fine now that the government has been paid their fines and removed the bad actors from the USA.

Then came the Virtual Currency that was hailed by some as the new age of internet gambling fund services. The cyber currency known as BItcoin was going wild with every media announcement it gained in value reaching astronomical heights in a matter of a few months. Then there was the crash and burn of the Mt.Gox  Bitcoin Exchange which has fallen off the face of the web after losing billions of Bitcoins to some vulnerability in its system.

Through all this turmoil, ups and downs, and instant loss the Bitcoin currency persists and is still worth $447.00 USD according to Tradeblock.com. It was reported recently that the Bitcoin trade is still growing because of its use by online gamblers and that possibly as much as 50% of Bitcoin’s  value is held in the net gaming industry. Investing in Bitcoin may very well have some merit as everyone knows the online gambling industry is growing at a fast pace so why wouldn’t a virtual currency also grow. Time will tell.

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