How Will Bitcoin Halving 2020 Affect iGaming?

5개월 전

The crypto community now awaits the next big event in Bitcoin history, as the third
Bitcoin halving may happen any time this month.

iGaming community is only talking about it and its one of the most trending topics on social media and own website

Bitcoin is once again clouded with uncertainties and hype as the next Bitcoin halving
is fast approaching. Among various industries that will be affected by this
major event is iGaming. After all, the upcoming Bitcoin halving can break or
make the future of the crypto gaming sector.

What is Bitcoin Halving 2020?

Bitcoin halving is the mandatory process that cuts in half the rewards given to Bitcoin
miners for processing BTC transactions.

Bitcoin halving occurs every 210,000 blocks mined or roughly every four years.
Bitcoin halving 2020 is expected to happen on May 12 this year, and is only the third
in Bitcoin history.

Bitcoin halving is essential in the finite model of Bitcoin, which will release only 21
million BTC. Bitcoin halving 2020 will set the block reward to 6.25 BTC for the next four years.

Effects of Bitcoin Halving 2020

Historical data suggest that Bitcoin price normally experiences a surge after a Bitcoin
halving. After the first halving in November 2012, the price increased from $10
to about $1,150. The same phenomenon occurred in the second halving in July
2016. But this time, the price had a massive surge, boosting the price from
roughly $650 to almost $20,000 by December 2017.

With the third halving just around the corner and Bitcoin trading at about $9,200 at
the time of writing, the price may break past the $10,000 mark once again in
the weeks or months following the said major event.

And with a price surge comes the potential benefits various Bitcoin industries,
including iGaming, will receive.

Expectations in iGaming Amid Bitcoin Halving 2020

According to a massive price surge will highlight renewed interest
in Bitcoin, which eventually may influence the iGaming industry to give more
value to crypto gaming. This may result to a boom in the number of Bitcoin
casinos on the market.

As Bitcoin gets more attention, more online casino operators would not want to
miss the opportunity to tap the crypto gaming market. Existing operators that
cater to only fiat-money players would consider accepting Bitcoin, while new
brands in iGaming would launch as crypto-friendly casino and sports betting
sites, for instance. Gaming dApps, for instance, may also get the boost they
need to launch and get a strong following and support from the community.

In addition to Bitcoin gaming possibly getting the spotlight, there may also be a
slight change with how Bitcoin-accepting casinos and betting sites present Bitcoin
as a gaming currency. To date, many Bitcoin casinos accept deposits and shows
balance in BTC, meaning players will see 0.001 BTC when making transactions or
when checking their bankroll. Format-wise, operators may soon opt to present
BTC balance in the mBTC denomination instead. This way, players will see 1 mBTC
instead of 0.001 BTC. Presenting it this way does allow for easier
comprehension and less technicalities.

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Dear @coinpoint

Solid read. It's clear that we're sharing similar interests towards blockchain technology and crypto.

Perhaps you would like to check out this contest / challenge done by my good friend hardaeborla: "What is Bitcoin Halving ?".

Enjoy your weekend,
Yours, Piotr