Bitcoin Struggles as Value Drops

Bitcoin

Lillie Mcguire
Posted on January 21, 2015 at 12:01pm

Bitcoin is the most popular cryptocurrency available right now and it’s no surprised that many online gamblers enjoy using it to pay for their gambling. However the past week has seen Bitcoin drop in value following comments made by Warren Buffet that Bitcoin is a mirage that doesn’t innovate in anything. The current value of Bitcoin is shifting somewhere around $204 to $214.

Why is this Happening?

Bitcoin has many economists split in opinion. Some believe that it is the end of the road for cryptocurrencies whereas others believe that 2015 is the year that Bitcoin will come into its own and flourish. Bitcoin recently lost around two thirds of its previous value and the lack of a centralized regulating authority there’s little the currency can do to stabilise itself. Many believe that this is party of the genius of Bitcoin – that it cannot be artificially inflated – but others believe the bottom will fall out of the currency over the next year as users start to lose faith in a payment method that has been surrounded in controversy and scandal. Some would dismiss Warren Buffett’s words of warning as the old man is a renowned Luddite when it comes to technology. However, many of his criticisms – such as that Bitcoin doesn’t offer anything that can’t be achieved in another way – ring true with the public.

Effect on Online Gambling

Bitcoin appeals to online gamblers due to its anonymous nature, yet it has thus far failed to take hold in the mainstream. Many online casino players will be unsure about using Bitcoin in the current environment, especially those playing with high volumes of money. However, it’s far too early to wave goodbye to Bitcoin as some of the greatest innovations can take a while to catch on – just look at the internet! Back in the 90s there was a general consensus that the internet would never be a thing but now you’re reading this very article online!

More About Bitcoin

To find out more about Bitcoin, check out our Bitcoin page in our Payment Options guide.


More News

New Laws To Change Online Gambling In Canada

Lillie Mcguire
Posted on April 16, 2021 at 3:04am
New Laws To Change Online Gambling In Canada

The question ‘is online gambling legal in Canada’ has been asked on numerous occasions, by locals, and the world at large. It is such a co

Benefits Of Playing At The Best Online Casinos

Lillie Mcguire
Posted on April 16, 2021 at 3:04am
Benefits Of Playing At The Best Online Casinos

It seems as if new online casinos are appearing on an almost daily basis, which is certainly good news for gamblers. But what exactly are the benefits

LeoVegas To Boost Sports Betting Site With Expekt

Lillie Mcguire
Posted on April 15, 2021 at 3:04am
LeoVegas To Boost Sports Betting Site With Expekt

LeoVegas AB has announced further expansion plans as the company strengthens its vision of becoming a leading sports betting site. It has agreed to ac

Microgaming Ink GONG Casino Games Online Deal

Lillie Mcguire
Posted on April 15, 2021 at 2:04am
Microgaming Ink GONG Casino Games Online Deal

Microgaming, the leading casino games online software developer, has reinforced its position as the industry’s leading content aggregator. The l

Canada GP’s Ghost Race In Need Of More Money

Lillie Mcguire
Posted on April 13, 2021 at 11:04am
Canada GP’s Ghost Race In Need Of More Money

The fate of the 2021 Canadian GP hangs in the balance after it was reported that the prospect of a spectator-free ‘ghost race’ for the Mon

Evolution To Acquire Big Time Gaming

Lillie Mcguire
Posted on April 13, 2021 at 11:04am
Evolution To Acquire Big Time Gaming

One of the world’s biggest iGaming giants, Evolution, is set to add yet another significant firm to its collection. The company has entered an a

Sports Betting Regulation Set To Serve Canadians

Lillie Mcguire
Posted on April 12, 2021 at 12:04pm
Sports Betting Regulation Set To Serve Canadians

Now that the passing of the bill set to legalise singe-event sports betting in Canada appears imminent, local gaming bodies and operators are excited

Poker Fans Can Now Own WPT NFT Heritage Content

Lillie Mcguire
Posted on April 12, 2021 at 12:04pm
Poker Fans Can Now Own WPT NFT Heritage Content

World Poker Tour fans will soon get to own special WPT moments by logging into an NFT marketplace and buying limited-time packs containing unique cont

Casino Finally Settles With OJ Simpson

Lillie Mcguire
Posted on April 12, 2021 at 12:04pm
Casino Finally Settles With OJ Simpson

A November 2017 incident that saw OJ Simpson kicked out of the Cosmopolitan Casino in Las Vegas, followed by a defamation claim filed at court nearly

Canadian Clothing Brand Supports Autism Month

Lillie Mcguire
Posted on April 09, 2021 at 3:04am
Canadian Clothing Brand Supports Autism Month

Local Laundry, a Calgary-based brand, has renewed its partnership with Kodette LaBarbera, the former reality television star of Hockey Wives of Canada