Is Bitcoin a ‘fad’?

Is Bitcoin a ‘fad’?

Tuesday, April 5, 2016 Totally Gaming
Bitcasino rejects criticism of virtual currency after successful year

Mark McGuinness, a spokesman for Bitcasino.io, has hit out at claims that the Bitcoin virtual currency is just a ‘fad’ after the operator posted significant year-on-year financial growth during the 12 months through to December 31, 2015.

The world’s first licensed and regulated Bitcoin-only online gambling operator, Bitcasino.io launched its services in January 2014 and has enjoyed plenty of success over the past two years.

In 2015, the operator generated turnover that was 1,370 per cent higher than in its first year of operation. Progressive jackpots in the period amounted to a total of €14m ($15.9m), while punters in more than 140 countries around the world visited the site to participate in games. 

Reflecting on the past year of business, McGuinness said that the firm’s growth should go a long way towards dispelling any talk about Bitcoin’s popularity slumping, stating that it is becoming more accepted as a mainstream form of gambling.

“Many industry observers have referred to Bitcoin as a niche product and a fad,” McGuinness said. “This is far from the reality; Bitcoin gambling continues to gain mainstream acceptance amongst players, particularly the millennial demographic and it will continue its growth trajectory into 2016 and beyond.

“2015 was an important year for industry awareness and player acceptance of Bitcoin as a ‘seamless gambling chip’ helped Bitcasino.io become the premier destination for discrete Bitcoin gambling.”

TotallyGaming.com says:

While industry observers suggest that it is highly unlikely that Bitcoin will ever become as popular as real-money gaming, it certainly has a place in the gambling world. The use of virtual currency in gaming is something that is becoming more popular, due in part to the rise of social games in recent years. If the success of Bitcasino.io is anything to go by, we are only likely to see further uptake in virtual currency gambling over the next 12 months and beyond.

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