Hello crypto lovers and welcome back to this week roundup! Right of the bat, it’s an insane week in the crypto world. With the greatest commotion focused on Bitcoin volatility, it’s good to get information from various sources. Also, there are numerous developments in the iGaming world.
But, enough introductions. Let’s see the most important news from the crypto world.
Correcting Inequalities In The Gaming Markets – Enter Gamestatix
Gaming and iGaming industry is on the rise. In 2018 the global market for video games reached $137,9 billion, with more than 2,3 billion active players. However, not all games and platforms were created equal, states Dean Anderson. The co-founder of Gamestatix sees the inequality leveled by use of the blockchain technology. The technology allows for early testing and rewards for players and developers via Bitcoin. Gamestatix plans to release an ERC-20 token, usable on the Ethereum blockchain. The possibilities are endless, and the looming paradigm shift surely leads us to the threshold of an industrial revolution.
Blockchain In Service Of Fair Odds
Crypto legders provide fair odds for the casinos. If you are into Bitcoin casinos, sportsbooks, or poker, you instantly connect how the technology went on the new level when it comes to security. The blockchain should substitute and improve the smart contact technology. The substitute, based on the blockchain, gives the player a unique confirmation of odds at a given bet. Then, cheating by changing the odds becomes impossible. Also, with the use of the blockchain technology the need for third-party regulations decreases. It makes a far better betting experience.
WPN reinvigorated By The Inclusion Of Cryptocurrencies
Winning Poker Network(WPN) works very hard to elevate a somewhat stale online poker industry. Again, the solution to the problem is the inclusion of cryptocurrencies. The inclusion allows better banking options for their users. Also, it reduces the costs of banking, since trading crypto takes only 2%, the industry lowest when it comes to transactions. With the addition of new online games, they added around 60 cryptocurrencies to trade. Cryptocurrencies now make up for 60% of transactions on the site.
Tax Authorities Issues A Warning – Skip Going To A Bitcoin ATM
A hacker scammed four people in Maribyrnong, stealing a total of AU$50,000. Each scam happened after deposits in the Bitcoin ATM. Therefore, the tax authorities issued a warning not to deposit money to a Bitcoin ATM on any call. The space for cryptocurrency in Australia is still underdeveloped. The main legislation allowed ATO to monitor a part of the trade of digital currencies. It’s a far cry from preventing scams like this. Since they don’t have a direct influence on the crypto channels, users should be cautious.
Numerai launched Erasure, A Crypto-Powered Stock Betting Market
Hedge fund Numerai officially launched Erasure, a stock price prediction marketplace. The Erasure protocol is active since June 2017, when Numerai distributed the “numeraire” tokens. Then, it became possible to earn or lose funds staking them on the stock predictions. The system is simple. Erasure, based on the Ethereum blockchain, works by allowing clients to stake company’s tokens on their predictions. Users win the tokens if the predictions are true, and lose them if predictions are false.
UFC Legendary Fight Analyzed Through Blockchain
What a superb article and what a superb fight. Conor and Khabib made history last week, and it’s even more interesting to view it through the blockchain lenses. There’s a difference between regular sportsbooks and those rely on the blockchain. Also, the article does a great job explaining the underlying concepts of the online betting platforms. Then, it goes in great detail to explain the competitive advantage of the blockchain-based casino over traditional sportsbook when it comes to security.
Wall Street and Twitter Differs In Opinion Of Cryptocurrency Bottom
Tom Lee polled 25 institutions and 9,500 Twitter users to gauge the public opinion of Bitcoin’s descending prices. The public didn’t reach a consensus on whether or not the Bitcoin reached a bottom. Institutions are of the opinion that Bitcoin won’t decrease in price any further, but Twitter users believe the opposite. Last Thursday the Bitcoin price stood at $6,548. Whether or not the price will descend is up to debate. Regardless of Wall Street and Twitter, the truth will come light by the end of the year.
Crypto-Traders Wait For A Breakout as Markets Meander Around
For the finish of this week’s roundup, there’s an in-depth analysis of the crypto market. Generally, traders anticipate a bearish to bullish change on the market. With the market stabilizing in the last two weeks, the traders hope for a positive reversal. However, even with a stabilizing market, it remains unclear whether there’ll be a positive or a negative reversal. Even though it’s an in-depth analysis, only one thing is certain. Nobody knows what happens next, and that’s a part of what makes crypto so amazing.
And that was all for this weekly roundup. Make sure to play it smart and invest with care. See you next week to determine what happens next in the crypto world.