30 Aug '13, 4pm

[BLOG POST] New #bitcoin casinos have driven online gambling growth since Satoshi Dice was acquired vi…

[BLOG POST] New #bitcoin casinos have driven online gambling growth since Satoshi Dice was acquired vi…

In our last post we noted that at least half of all Bitcoin transactions in June 2013 were for online gambling on the gambling site Satoshi Dice. We were interested to see what has happened since Satoshi Dice was acquired in early July. Thanks to some useful blockchain data analysis that The Genesis Block shared with us, we now have an answer. The Bitcoin blockchain is essentially a public ledger of all prior Bitcoin transactions. So The Genesis Block looked at transaction volume for 27 Bitcoin addresses known to be used by Satoshi Dice. They found that since the acquisition, dollar-denominated wager volume on Satoshi Dice has held steady. In the first chart, we see that dollar-denominated wagers in August 2013 are flat to slightly up since June (dark blue line). At the same time, the number of daily wagers has fallen since April 2013 (light blue line in next chart). As ca...

Full article: http://lsvp.com/2013/08/30/new-bitcoin-casinos-have-drive...

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