In the highly sophisticated world of online betting – an industry worth around $50 billion annually – blockchain technology has opened up great scope for improvements in gamers’ experiences online.
With echoes of a forex trading robot, the Bettium seeks to further enhance players’ abilities by approaching the arena with a unique structure. Instead of punters versus bookmakers, the key difference on Bettium is that its players versus players.
Everyone has access to data and expert opinions to be as well informed as it’s possible to be when wagering. The platform will feature an AI assistant (Merlin) that will help users make educated decisions by processing big data and presenting its forecast and suggestions in an understandable form.
Bettium is essentially a decentralized marketplace that allows smart sports bets to be made between individuals. Resident experts and the latest analytical data are both on hand for gamers to adopt more calculated strategies for winning. Both contestants or teams in a wager can access big data, AI and many potent analytical tools to enable player’s decisions. Focusing rather on enabling a different, rich UX, the platform is applying blockchain technology in ways to give users the benefit of a sophisticated analytical approach to placing bets.
Presenting as highly professional and wholly transparent, the company has taken gambling intent a step further than others. At the turn of the century, online gambling exploded, giving any punter access to almost any bookmaker in the world. Now, rather than face gambling professionals, Bettium is enabling players with the kind of data and tools bookmakers use in their own calculations.
Moreover, the company epitomizes the sort of app anticipated from the development of blockchain. Focusing on a fair and equitable platform that can enable all comers equally, Bettium is confidently precocious in its offer, and with enhanced transaction speeds, a tight wallet structure that users employ to enable wagers and reduced costs for players, it is expected that it will be well received.
What Issues will Bettium Resolve?
Although sleek, online gambling is very often simply a transference of a real-world casino into the online arena. Some aspects are improved through the elimination of human croupiers and other physical aspects of the average casino, but the majority of the benefits are for the casino itself. Gamers face the very polished, rapid and hidden technology behind any online casino or bookmaking concern. It is a given that the bookmaker is in it for their own interests. They offer odds and a punter takes them or leaves them, without ever enjoying the trade knowledge and sheer volume of resources a bookmaker will employ to offer the odds in the first place.
Statistics show that the overwhelming majority of gamers are infrequent participants.
Regular versus Irregular Betters. Source: Bettium Whitepaper
By far the majority of people placing bets on sporting events are interlopers, totally incapable of employing the analytical approach of bookies and other gaming houses. In the absence of the breakdown of the barriers between casual and professional members of the industry, the odds are wildly skewed in favor of the bookmakers.
The Bettium Solution
By shifting focus to the camaraderie between peers and building in access to the typically unseen “backend,” all bookmakers employ daily – AI, big data, and complex analytical tools – Bettium is pitting player against player. Both have access to the same resources to place the wager, and unlike employing a bookie or totalizer or any other third party authority to generate those odds, the odds arise from the P2P interaction as the two parties place their bets. Far more communal, transparent and enjoyable for many, the platform increases speed, enables a sophisticated yet elegant ease of use and also reduces costs all round. With modern sports betting being a mixture of science, strategy and new, evolving technology.
The Bettium build also addresses issues of trust, scalability and the omnipresence of the invisible barrier behind which the casino typically wins most hands. Rather than funnel the gaming public through a betting system controlled by a single third party looking to profit more than the players, by building a peer to peer platform, Bettium is enabling a large number of gamers who place sports bets around the world. The developers speak of “unprecedented flexibility and reliability.” and the construct is a subtle but still substantial departure from the norm that should appeal to millions in the community.
- Token Type: Utility,
- Platform: ERC-20,
- Symbol: BETT,
- Private Sale: June 1-30, 2018,
- Pre-Sale: July 1-7,
- Token Sale: July 2018,
- Token Supply: 1 billion,
- Soft Cap: $7.5 million,
- Hard Cap: 30 million,
- Price: 1 BETT = $0.05,
A total of one billion tokens will be minted. As a cryptosphere startup, acceptable currencies to Bettium for buying in are BTC, ETH, and XEM.
The Bettium team
Bettium’s core team comprises CEO Nathan Hunt, Chief Legal Officer Brian Bellerose, Business and Technology Strategy Executive Manager Ron Lewis, Sheldon Bennet on Blockchain Analysis, CTO Alex Kamilov, App Engineer Dan Hunt, Alice Douglas in charge of investor relations and Full Stack Developer Edward Luque.
Advisors who are aiding the team in rollout include Peiwei Ni, the Chairman and CEO of Super Block, Crypto Market Advisor Alexandru Radulescu, the CEO of Findo Gary Fowler, and Maury G, an APAC consultant.
The company is European but will service the globe on its platform. The developers have a strategic plan for disbursement of funds raised, with an eye on ensuring scalability and improvement post-launch.
The Bettium platform comes at gaming from a different angle, but one that is sure to have wide appeal due to its democratic build and a transparent cap on losses. Moreover, the inevitability of doing it alone that comes with online gaming is broken – a big plus – with the introduction of the P2P model. With greater transparency in play, greater camaraderie and a sense of empowerment other venues cannot offer within the standard model and arrangement of players in the wager; the ICO is set to experience good uptake. The betting tournaments in which prize money will be paid in BETT tokens is planned for early 2019, with a prize pool of approximately $1 billion at the prevailing exchange rate.
The backdrop is the billion-dollar online gaming industry. The reality of greater foresight and control over outcomes is sure to attract droves of gamers who will begin making the features Bettium offers a new industry standard. The company’s homepage says it all:
“BIG DATA AT WORK FOR YOU – Analytical Blockchain Platform for P2P Smart Betting.”
With not only the data but the tools to strip it something of a novelty for individual gamers, the company’s offer is apparent.
Investors are advised to do their own homework before buying into any ICO, but as a member of a super healthy industry, pitching a different take on things that incorporates a vast improvement on UX, the ICO is rated a definite buy.
Biometric Cryptocurrency Card Protects Bitcoin with Fingerprints
Unikeys has officially announced its UKey cryptocurrency card.
In form, it’s shaped like any other regular payment card. But it’s designed to host multiple popular cryptocurrencies including Bitcoin, Bitcoin Cash, Ether, and Litecoin. What’s more, it features an embedded fingerprint sensor. Once a user’s fingerprint data has been registered and stored in the card’s Secure Element, the card is then able to biometrically authenticate the user for each transaction, ensuring a high level of security.
The biometric component is the product of a collaboration between Unikeys and Hong Kong-based MeReal Biometrics, which obtained its fingerprint sensor technology from Sweden’s Fingerprint Cards. Fingerprint Cards has been very busy in recent months seeking to secure a leading position in the biometric cards market as major financial services brands like Visa and Mastercard prepare for mass commercialization of this kind of technology; Unikeys, for its part, is ahead of the curve.
Of course, a key to success for the latter company will be establishing merchant support for its card’s cryptocurrency payments, and as RFID Journal reports, Unikeys is currently in talks with “several companies” concerning this issue. Unikeys’ CEO says the company is also planning to launch a pilot for its solution in Hong Kong, though details about the project are forthcoming.
Bitcoin This Week: Square’s Cash App Extends BTC Services, Bitcoin Adoption Years Away And More
Today on Bitcoin This Week we comment on Square’s Cash App recent announcement of extending its Bitcoin services to all Americans, we discuss Coinbase CEO comments on why he thinks Bitcoin adoption is years away and much more.
Saudi Committee Leaves No Doubt About Bitcoin Status
Saudi Arabia has reminded its citizens that trading in Bitcoin and other digital assets is expressly forbidden in the Kingdom, citing Bitcoin’s “high risk” and, what it terms as “negative consequences” for investors.
There were certainly negative consequences for investors this week, with Bitcoin falling back to within touching distance of its lowest 2018 price, before recovering on Wednesday. The paternalistic Saudi government, meanwhile issued its warning through the “Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in the Foreign Exchange Markets” pronouncing it was doing so to protect its people from “get rich” schemes and the dangers of transferring funds to unknown recipients.
Bitcoin Settling More Transactions Than Gold
Bitcoin, as everyone knows, has dropped in price considerably since the start of 2018. It might surprise investors to learn, therefore, that in terms of settled transfers, the cryptocurrency is outpacing gold.
Nick Carter, a researcher at Coin Metrics, published statistics on Twitter comparing Gold settlement volume so far this year with Bitcoin. He used the statistics of the London Bullion Market, stating that it represented at least 70% of all gold traded globally. It would appear that the Gold market is likely to complete under $500 billion transfers this year. Bitcoin, however, has already transacted over $800 billion worth and is well on course to exceed one trillion dollars in settled transfers by the end of the year.
We Are Years Away From Bitcoin Adoption – Coinbase CEO
In crypto adoption terms, the world is roughly where it was with internet adoption back in 1998 according to Coinbase CEO Brian Armstrong. Speaking to Forbes, Armstrong was bullish about cryptos chances of succeeding in countries that are experiencing turmoil, such as Venezuela and Turkey, but said that we were years away from being able to use Bitcoin and other cryptocurrencies on a day to day basis.
In Armstrong’s opinion, only around 10% of Bitcoin produced is used in real-world settings, citing video games as a specific use case where cryptocurrencies have seen a reasonable level of adoption.
Square’s Cash App Now Offering Bitcoin To All Americans
Coinbase will see increased competition in the United States with the announcement this week that Square’s Cash App has extended its Bitcoin trading services nationwide. It had previously only been available in some U.S. states.
Cash App allows users to send money easily through a simple cellphone app. It received a license to offer Bitcoin services to New Yorkers in June, having recorded a positive response to its crypto services. Unsurprisingly, the announcement that Square had expanded its services nationwide was made by tweet as Square CEO Jack Dorsey is the co-founder of Twitter.
Markets – Almost Rock Bottom For Bitcoin
There was some relief for Crypto markets on Wednesday after an early week meltdown sent the market spiraling downward. Bitcoin was far from being the worst affected however, and by Wednesday had largely recouped the losses suffered in the previous couple of days. But its value, even with this recovery, was almost $2000 down from late July.
On Sunday, Bitcoin opened at $6283, and closed up at $6322. Monday saw a sharp decline when it hit $6225. But worse was to follow. On Tuesday, the crypto market was in freefall, Bitcoin trading for under $6000 for the first time since late June, closing the day having recovered to just under $6200. Wednesday was better, with a steady upward curve sending the coin towards $6500 around noon. To see current prices click here.
Great 2018 Altcoin Bubble: Which Crypto Tokens Were Least Affected?
Which Altcoins Registered the Least Losses During the Last Bear Market?
We have been in a bear market since the beginning of the year and most of the virtual currencies lost between 65% and 95% of their value. But there are three distinct groups of altcoins that have been made by Onchainfx.com in order to understand which altcoins performed better and worse.
As per this data, there are three groups of altcoins. The first and most dramatic one includes cryptocurrencies that registered bigger losses than 90%. These altcoins lost 80% once, and another 80% again.
If an investor bought during the all time high, then, this could be potentially harmful. Losing more than 90% of an investment is certainly not positive. The phrase ‘never invest more than what you are able to lose’ is more important to remember than never in such situations.
In general, we can think that these situation happened to virtual currencies that are not established or that are not known by most of the investors. But one of these virtual currencies is XRP, that is down 93% from its peak. Cardano (ADA) is included here, registering a 93% decrease and MIOTA 92%.
It is important to mention that when these virtual currencies registered all time highs in January 2018, the market was very bullish and individuals were expecting the price to keep growing even further. Of course, this did not happen, and the losses were massive.
There are other virtual currencies that lost between 80% and 90%. We can mention EOS, that registered 80% losses from its highest mark. Some enthusiasts were expecting EOS to reach $30 or even $50 dollars, something that never happened. Indeed, the highest point was $24 dollars.
There are other assets that have lost between 80% and 90% including Bitcoin Cash (BCH), that registered losses of 88%, and DogeCoin (DOGE) with 87% losses.
We have also another group of coins that lost between 70% and 80% from their peak. We are talking about Stellar Lumens (XLM) that lost 77%, Decred (DCR) 70% down, and Ethereum Classic (ETC) with 75% losses.
Bitcoin is registering losses of 68% since its peak close to $20,000 dollars in December 2017.
However, there are some coins that registered smaller losses such as VeChain (VEN) registering 48% losses, and Binance Coin (BNB) with a drop of 56%.
As there is no buying support for some altcoins, there may be an even bigger sell off, that could end with some smaller coins.
At the moment of writing Bitcoin is still the most important virtual currency in the market with a price of $6,450 dollars, Ethereum $290, XRP $0.33, Bitcoin Cash $548, EOS $5.11, Stellar $0.22, Litecoin (LTC) $56.62, Cardano $0.98 and Monero (XMR) $97.46.