Written by :
Published on :
Long time friends of the Gambling911.com website, Rebbeca Liggero sits down with Calvin Ayre to dicuss Ayre's journey with Bitcoin and how it ties back to the gambling industry.
Liggero talks about how, back around 2012 the gambling industry was discussing this technology for payments. Fast forward nearly ten years later some 80% or more of all transactions within the so-called "restrictive" gaming sector are through Bitcoin.
But the technology is way more than just payments.
"At first it was payments," Ayre said. "If you recall, when Bitcoin first came out, it was relatively cheap transaction costs, there wasn't a scaling bottleneck, at least the philosophy against scaling didn't exist, and it didn't have enough use cases that there was any kind of scaling ceiling apparently for people that were using it. So it was kind of like a frictionless, low cost way to send money around."
But Ayre quickly realized the original Bitcoin protocol needed saving and to be put to better use.
"What I found out is that this technology, it does payments, but it's fundamentally a data management evaluation platform."
In order for this to work, the technology must have the unbounded scaling.
Watch the interview below.
- Aaron Goldstein, Gambling911.com
