Author: dfmines

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2020 was a huge year for the crypto gambling sector. It was a bad year for the world on the whole, but as more people stayed home and looked for ways to pass the time, online casinos and sportsbooks stepped in. In 2020, we saw more crypto casinos launch than ever before. New crypto games also hit the market every single week—or so it seemed—and things were on the up. The growth continued into 2021 and then hit a roadblock of sorts as Bitcoin reached record highs and then saw its value drop by half. But the growth has restarted in the last month or so and crypto casinos are set for a bumper few months as we approach the final quarter of 2021. The Changes in Bitcoin Gambling Bitcoin payments are faster and safer than many traditional payment options. The currency itself hasn’t changed much over the years, but the way that it is used in casinos has changed a lot. In the early days, it was all about wallet IDs and manual payments. These days, companies like CoinsPaid provide a service that works more like a web wallet. It means that players can keep all their cryptos in a single account and then transfer these into and out of their favourite casino in a few clicks. Cryptocurrency exchanges are also being linked with online casinos, allowing players to connect their exchange like they do a bank account and transfer funds across. The simplicity of these processes is one of the reasons why Bitcoin is growing so quickly as an online casino payment option. As easy as these currencies are for experienced users, they can be problematic for complete newbies. The idea of buying coins and transferring them to a virtual wallet via long-string IDs is a little alien. But when the process is automated through web wallet-like services, it’s a little more familiar, and that’s key. What Drives Bitcoin’s Inclusion? Volatility is one of the major downsides of Bitcoin and other cryptocurrencies and it’s often cited as the reason that these coins are not widely embraced by companies. It’s less of an issue for online gambling companies, though. After all, these companies work through merchants and tend to consolidate their payments, so they don’t care what the currency is worth in the future as long as $10 is $10 at the time of purchase. The biggest issue is anonymity. A debit card is tied to an individual’s bank account, which is tied to their name, address, and other details. It creates a long paper trail and makes it hard for someone to use debit card gambling to launder money or commit fraud. Cryptocurrency transactions can still be tracked in the blockchain, but they are not tied to an individual and this is where the problems are. Regulators like those in the UK and Sweden expect online casinos to employ strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures and that’s just not possible with cryptos. At the moment, most crypto casinos are regulated in Curacao or Malta, where the rules are a little less strict, but when that changes or workarounds are discovered, the final hurdle will be cleared and cryptos should be as ubiquitous as Neteller, Skrill, and Visa. The Future It’s not just Bitcoin that is being embraced by the online gambling sector. As the months progress, we’re seeing more and more crypto options being added to the banking pages of casinos and sportsbooks. Traditionally, it was all about Ethereum and Bitcoin. XRP, Bitcoin Cash, and Litecoin followed shortly after that and then we show Dogecoin being added during its meteoric—and unexpected—rise. In 2021, we are seeing many smaller altcoins being added, as well as some coins that have had a huge year. Cardano is one of the biggest to make an appearance on 2021 online casinos while options like Monero, DASH, and Tether are now more common than Bitcoin Cash. They might not be the biggest in terms of market capitalization, but they offer something that other coins don’t and have the technology that can benefit this industry. As the industry continues to grow, it’s fair to assume that we’ll see many more altcoins being added to these lists. In time, players will be given the option of using dozens of different altcoins every time they make a deposit or withdrawal. And because cryptocurrencies are faster, easier, and safer than most other payment options, the extra variety could be all that they need to outgrow options like PayPal and debit cards and become the most popular methods used to gamble.   Image by vicki4net from Pixabay

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Everything about the fake Banksy NFT story fits together like puzzle pieces. And it’s mysterious. And no one gets hurt. A feel-good story with a twist, if you will. First of all, the person who bought the fake Banksy NFT is known as Pranksy. That’s right, Pranksy. What are the odds? And it just gets weirder from there. Related Reading | David Marcus Of Facebook Indicates Plans To Support NFTs You see, Pranksy is a notorious NFT collector. Twitter gave him a blue checkmark. His prominence in the NFT community is what elevates this story. Was this person targeted? Pranksy bought the piece “Great Redistribution of the Climate Change Disaster” knowing full well that there was risk involved. Even though Banksy’s official site hosted a page linking to the auction. Let’s quote Gizmondo with the 411: “The forged piece of digital art popped up on Banksy’s official site on Tuesday morning under the now-deleted URL “banksy.co.uk/nft.html.” The only thing on the page was a JPEG of what was presumably Banksy’s take on the $1 billion dollar CryptoPunk hype train, featuring the artist’s usual kind of social commentary, this time about the awful carbon footprint that NFT artwork leaves behind.” To be fair, Banksy’s “usual kind of social commentary” is usually much more poignant than what this piece offers. The fake Banksy NFT, “Great Redistribution of the Climate Change Disaster,” is basically a CryptoPunks rip-off barking at the wrong cause. The NFT collector knew something felt off from the very beginning; “Is this… real?” was Pranksy’s first reaction. Is this… real? https://t.co/jzxlAYs99T#Banksy #NFT on @opensea commentating on potential climate damage of PoW blockchains? pic.twitter.com/GG8FkGr2k7 — Pranksy 📦 (@pranksy) August 31, 2021 Who’s Behind The Sale Of The Fake Banksy NFT? In the opensea NFT marketplace, the page that hosted the auction was under the name “gaakman.” The Art Newspaper offers information about the possible pseudonym. “Suggestions that gaakmann could be Banksy because the artist used the pseudonym “Bryan S. Gaakman” when he entered a work into the RA summer exhibition in 2018 seemed far-fetched.” Since that’s a known Banksy pseudonym and the link came from the official site, Pranksy proceeded. The NFT collector bid 100 ETH, orders of magnitude more than the highest bid at the time. The offer was immediately accepted. That’s when Pranksy knew something was wrong. “The link was removed from his website so it could have been a very elaborate hoax, my guess is that is what it will be, only time will tell!” So my bid of 100 ETH was accepted for the potential #Banksy first #NFT on @opensea. The link was removed from his website so it could have been a very elaborate hoax, my guess is that is what it will be, only time will tell!https://t.co/EEmElqIvBZ pic.twitter.com/Pbs5zrht05 — Pranksy 📦 (@pranksy) August 31, 2021 Then, someone at the BBC contacted Pranksy and informed him that the fake Banksy NFT was indeed fake. “Hopefully I can get in touch with the team who represents him, if not it was fun entertainment for us all today,” Pranksy said via Twitter. Banksy’s Pest Control authentication team told the BBC, “any Banksy NFT auctions are not affiliated with the artist in any shape or form.” ETH price chart for 09/01/2021 on Bitfinex | Source: ETH/USD on TradingView.com The Return Of The Scammed ETH Was this Pranksy person targeted? This is the turn. This is where it gets weird. Let’s quote Decrypt with the description: “Then, in perhaps an equally strange turn of events, the scammer returned 97.69 ETH to Pranksy a little more than eight hours later. “No idea why [he returned the funds],” Pranksy told Decrypt. “I think I tracked him down, and he was made aware.” My ETH from the #Banksy #NFT purchase was just returned to me, ethical hacker proving a point?https://t.co/idDNEsEIhK — Pranksy 📦 (@pranksy) August 31, 2021 Pranksy gave the BBC a more detailed description of what “tracked him down” means “The refund was totally unexpected, I think the press coverage of the hack plus the fact that I had found the hacker and followed him on Twitter may have pushed him into a refund. “I feel very lucky when a lot of others in a similar situation with less reach would not have had the same outcome,” he said.” This is where the tables turned and Pranksy turned into the main suspect. The Art Newspaper accuses: “The question, then, is who has masterminded the sale. Pranksy’s cover photo on Twitter is of a pixelated red and white aeroplane, not dissimilar in aesthetic to the crudely rendered NFT. When asked if he was in on the hoax, Pranksy denied any involvement. “No prank at all,” he told The Art Newspaper. So was he scammed? “I think so, but I wasn’t forced to bid. It’s the risk I took. No refunds on the blockchain!” Pranksy is a pro. He was aware of the risks from day one. Just to add a comment, to those who feel this may have been some sort of stunt. I would never risk a future relationship with Banksy or any fine artist by hiring someone to hack their website and then buying an #NFT from myself, what an unusual day! — Pranksy 📦 (@pranksy) August 31, 2021 Our Theory About The Fake Banksy NFT A mysterious stranger Direct Messaged Pranksy to let him know about that one-in-a-lifetime auction. In the Decrypt story, they have screenshots of the DMs. Was Pranksy targeted by Banksy and his team? If Banksy wanted to create worldwide headlines and comment on the NFT boom at the same time, a notorious art collector was the missing ingredient. Pransky’s prominence in the NFT community mixed with his name makes him an ideal target.  Related Reading | TA: Ethereum Bulls Keeps Pushing, Why Rally Isn’t Over Yet Of course, we have no way to prove any of this. Everything about the fake Banksy NFT story fits together like puzzle pieces, however. Featured Image: Screenshot of the fake Banksy NFT | Charts by TradingView

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I learned polygon was a layer 2 solution on Ethereum in the beginning. However, polygon seems to have its own chain now. Does this mean Polygon exists both as an L2 solution and an independent sidechain like BSC? submitted by /u/Tahmid_0007 [link] [comments]

A recent poll regarding European cryptocurrency policy saw the participation of 31,000 respondents across 12 member states of the European Union.

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What the United States needs is tens of billions of dollars, and the state is going to take it from the American crypto community.