Post
Topic
Board Gambling discussion
Re: BTC price VS gambling
by
Kasabus
on 30/04/2021, 14:14:28 UTC
^ As I remember correctly because I don't have enough knowledge on technical stuff on BTC transactions. The 3 confirmations consider as safe and can not be reversed but this is only for small transactions like $1k below. However, in large transactions like millions of dollars in BTC amount will need six confirmation, this is the standard for most transactions to be considered secure. It would be love to use a gambling site that offer for free withdrawal fee and I hope all of them are generous enough to have that free fees upon withdrawal.

I would like to know how many gamblers in the crypto operate with amounts of millions of dollars. In my opinion, there are very few of them and they are unlikely to be anonymous, since if the casino makes transactions of several million dollars without knowing the information about the client, it can be accused of money laundering.

No, that depends on the law of a certain location where the license is acquired.
Crypto casinos are rich, they have millions of bets received over time and it has increased due to the increasing value of bitcoin.

IIRC, freebitcoin which is one of the oldest, have already billions of bets from the very start to the present, which makes them one of the richest in the crypto space, but they are still operating now, therefore this means they are following the law and people still enjoy anonymous gambling.