Bitcoin is the payment method of the future for some and a serious threat to the existing financial system for others. At one point, Bitcoin should not yet be sufficiently integrated into financial regulation, at another point actual Bitcoin casinos are springing up. At the end of 2019, the oldest cryptocurrency is still between the chairs. Now the head of the Russian central bank has commented on Bitcoin.
The Russian central bank is unlikely to be a fan of the crypto sector
At the FINOdays event, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, compared Bitcoin to gambling, as RIA Novosti magazine reported: “This is really close to the casino and we examined this phenomenon because it is massive – we see that many have invested in cryptocurrency – those who want to make money very quickly and easily.
But there is a worldly wisdom that free cheese is only available in a mousetrap. Easily earned money is quickly lost. That is why this is your choice, here the state does not protect your investments in cryptocurrencies; as opposed to investing in banks in an organized market. Bitcoin and many cryptocurrencies are still here, but when you look at how the crypto market is moving, these are huge fluctuations. And of course, people who invested cryptocurrencies at their peak have now lost a lot.
For Nabiullina, the cryptocurrencies come with too little investor protection. However, this doesn’t seem to actually bother every crypto fan. The Bitcoin can not only be compared to a casino, but also used in the aforementioned crypto casinos.
The Bitcoin casinos are doing well
Bitcoin casinos, such as Mintdice, are enjoying growing popularity among lovers of digital currencies. Even though cryptocurrency highs have been around for some time, the demand for virtual coins remains strong. It has never been so easy to have fun with coins in the world of digital casinos. Cryptocurrencies are therefore not intended as an investment form for everyone, but also as part of the digital game offering. There are slots, throws and card games. Despite all criticism, this phenomenon should not change significantly in 2020.