Regular readers of my blog posts will know that I’m a big fan of gambling with cryptocurrencies.
I could never see the benefits of returning to using payment methods associated with the legacy financial system.
However, Bitcoin has changed a lot since the early days. The minuscule fees and lightning-fast transaction times experienced in the old days have been replaced by transactions that can sometimes take hours and can cost $10 or more.
I’ll tell you more about that in this piece. I’ll also show you how to play at BSV casinos and get all the benefits of using Bitcoin as it was meant to be. Your online gambling experience will never be the same again.
What Is Bitcoin Satoshi Vision? How Does It Work?
In order to avoid writing a 10,000-word essay, I’m going to have to give you a quick “big picture” view of what Bitcoin SV is and how it came to be. Let us begin with how Bitcoin got started and what has happened since.
In 2009, a mysterious computer programmer called Satoshi Nakamoto releases Bitcoin to the world. The whitepaper and documentation on Bitcoin.org clearly state that Bitcoin is peer-to-peer electronic cash, is capable of microtransactions, and is almost fee-free. You can send any amount of money, anywhere on the planet, for next to nothing.
Bitcoin quickly catches on and gains some usage. However, the first people to use it are anarchists and criminals like those behind the darknet website Silk Road. Wikileaks, then on the bad side of Uncle Sam, indicates that it will start accepting donations in Bitcoin, and Satoshi Nakamoto disappears in short order.
The developers start debating how Bitcoin should scale to deal with a growing number of transactions. Never mind that Satoshi has already told them it can scale infinitely as it is. They soon oust Gavin Andresen from the Bitcoin project, and a civil war breaks out between two factions.
- “Big blockers,” or those who believe in increasing Bitcoin’s block size to deal with as many transactions as needed.
- “Small blockers,” who believe in taking the transactions off the blockchain and keeping the blocks small in the name of network security.
This is how we came to have Bitcoin and Bitcoin Cash. An Australian computer scientist who claims to be Satoshi Nakamoto is in the Bitcoin Cash camp. His name is Craig Wright, and he soon falls out with the Bitcoin Cash guys because they too want to change the original Bitcoin protocol. He parts ways with them and creates Bitcoin SV with the intention of restoring Bitcoin to its original state and purpose: peer-to-peer electronic cash.
I’m not here to settle this debate. So far, the market seems to be buying the “Bitcoin is digital gold” narrative, and BTC’s price reflects that. However, there’s no denying that Bitcoin SV does align closely with the whitepaper and the original purpose of Bitcoin. And it works great. Oh boy, does it work!
Should You Use Bitcoin SV to Gamble Online?
I was skeptical about Bitcoin SV when I first encountered it. This was mostly because Craig Wright is a controversial character who many people don’t believe is really Satoshi Nakamoto.
However, not being one to allow others to make my mind up for me, I decided to give it a try. To say I was pleasantly surprised is an understatement. My transaction arrived in seconds and cost around 1/100th of a cent.
I immediately saw the benefits for online gamblers and decided to do some research into gambling with BSV.
There are a few good reasons to play casino games or place wagers with Bitcoin SV.
- Speed – This is the fastest cryptocurrency I have ever used. I had barely hit “send” in my BSV wallet before it arrived in my casino wallet. I am not kidding when I say it settled in roughly one second anywhere on earth.
- Fees – I’d been using BTC for years before I tried BSV. I was used to fees that fluctuated between $2 and $50 depending on demand. I paid a fraction of a penny to send around $1,000 worth of BSV. I was suitably impressed by this.
- Transparency – You can never lose a transaction when using BSV. Everything is transparent and open, and you can track every transaction you have ever made from the beginning of time.
- Acceptance – BSV has been attacked almost universally by the entire cryptocurrency ecosystem. It has been delisted from almost every major exchange and isn’t accepted at many online gambling sites. However, you can gamble with BSV at Bodog. It’s one of our top-rated online gambling sites.
Why don’t most casinos accept BSV? Why was it delisted from most crypto exchanges? That depends on who you ask. BSV advocates will tell you it’s because the original Bitcoin is being suppressed, while its opponents will tell you it’s because it’s a scam project led by someone falsely claiming to be Satoshi Nakamoto. To Bitcoiners, that’s the equivalent of blasphemy. You’ll have to make your own mind up about who’s telling the truth.
Calvin Ayre and Bitcoin Satoshi Vision
One thing I found extremely interesting is that one of online gambling’s original pioneers, Calvin Ayre, who used to own huge betting sites like Bodog and Bovada, fully backs BSV and Craig Wright’s claim to be Satoshi Nakamoto.
Calvin was quick to see the benefits of using BSV for online gamblers. In fact, in a recent interview, he said that Bitcoin grew out of the online gambling industry. He claims that Craig Wright developed Bitcoin while working in the online gambling industry and figured out a way to tokenize payments.
Whether or not you believe these claims is up to you, and it doesn’t really matter. I don’t care about any of the ideology, or even who Satoshi Nakamoto is. As an online casino player, all I want is fast, transparent transactions with minimal fees. Calvin Ayre knows this is what online gamblers want, and he’s right about BSV’s usefulness to us. Everything else is noise.
How to Gamble With Bitcoin SV Online
If you’re curious and would like to give BSV gambling a try, follow these steps to get started.
- Sign up at a BSV gambling site like Bodog. Creating a new account is free and will only take a few minutes of your time.
- Buy Bitcoin Satoshi Vision. You can’t get it on major crypto exchanges like Coinbase or Binance. You can go to BuyBSV.com and make a purchase directly with your bank card.
- Send the Bitcoin SV to the wallet address generated by your chosen gambling website. The transaction will arrive in seconds and will be almost free.
- Play your favorite casino games, bet at sportsbooks, or do whatever else you want. Remember, you don’t have to wager a whole BSV. BSV is divisible to the 8th decimal place. You can make bets equivalent to $0.01 if the casino allows it.
- If you win, withdraw your BSV to a safe and secure wallet for safekeeping. Crypto wallets like the Exodus wallet support BSV.
Once you see the capabilities of BSV, you’ll likely never gamble with another crypto again. I’m done paying $10+ fees for transactions that can take hours to arrive in Bitcoin casinos. With BSV, you don’t have to put up with that.
Some Common Questions About Bitcoin SV
Is BSV a scam?
I don’t think so. It works better than BTC, and that’s what I judge it on. To me, a scam is something that takes your money, and you get nothing in return. BSV is a real coin that you can use to gamble online with. Now, if you’re asking if it’s the real Bitcoin or is falsely claiming to be so, I have my opinions on that, but I’m not going to influence you. I suggest you do your own research and come to your own conclusions.
Is Craig Wright really Satoshi Nakamoto?
That’s a loaded question. You’ll get many different answers from “obviously yes” to “Craig Wright is the devil incarnate!” I don’t care either way. As I have repeated a few times here, I only care about low fees and fast transactions. That $10 I pay for a BTC transaction could be ten $1 spins on a progressive jackpot slot. I’m not wasting it on a transfer fee.
How can I cash out my BSV when I win?
There are still plenty of crypto exchanges that support Bitcoin SV transactions. You can even swap your BSV in the Exodus wallet for a stable coin like USDT or USDC and then cash that out through an exchange like Coinbase. Alternatively, you can hold onto it in case Craig Wright really does turn out to be Satoshi and BSV explodes in value. It’s your choice.