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CasinoCoin, and Why I Invested

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Written by : https://twitter.com/HolyK1cks 

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I am fairly new to the Crypto World, and I am sure my story is like many others. I was introduced through my Brother in-law, who invested 5 dollars, and turned it into 70. I had heard of people making a fortune on this kind of investment before, so I decided to learn and invest myself. I bought a slew of coins, just hoping to hit something big. Needless to say, I bought the top (2017), and sold the bottom (2018). Disgruntled and discouraged, I put this new and volatile investment into the back of my mind. A year later, Bitcoin seemed to be booming again. I began to research, this time looking for investments that had a clear path to adoption. That is when I fell in love with XRP, but only for a short moment. I had been invested for a few months before i stumbled upon what is CasinoCoin.

 What is CasinoCoin? CasinoCoin, a fork of XRP, is an open source, peer to peer, cryptocurrency specifically designed for the regulated and online gambling industry. They plan to revolutionize the regulated gambling industry through the best blockchain technology. As you can see, CasinoCoin benefits from the speed of XRP, while also maintaing their own ledger.

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The first thing that jumped out to me was when I learned the foundation is a non-profit organization and did not do an ICO (Initial Coin Offering) What I like about their approach is they aren't starting up a new industry, hoping others take notice to get adopted. John Caldwell, the Director of Advocacy said, “The only sustainable way forward for cryptocurrency in the gambling world is to work with regulators and operators from day one and focus on regulated markets. Our aim with CasinoCoin is to provide a currency, and related technical tools, designed and accessible for operators and ordinary players in the regulated gambling industry. We believe the Foundation will play an integral part in driving the coin’s future success.” They are helping existing regulated land-based and online casinos (a $600 Billion industry)  become more efficient and data driven. This is lead by an amazing team of C-Level Executives with deep connections throughout the gambling world, most notably from Pokerstars, IGT, Gamesys, DraftKings, Microgaming, and most recently Cammegh Roulette and Aruze Gaming. ( https://casinocoin.org/team/) (  https://casinocoin.org/board-of-advisors/) (  https://casinocoin.org/board-of-trustees/

 What is their product? CasinoCoin’s flagship product, the Bankroll Manager, features built-in KYC and AML capabilities, and provides onboarded users with direct access to some of the world’s top regulated gaming sites, and the opportunity to deposit, bet and withdraw in CSC. This is significant if you have ever tried to deposit and withdraw from online casinos before. Instead of taking days with large fees, it takes seconds costing only a fraction of a penny. You also only have to sign up once for all participating sites. This is possible through their partnership with Jumio, the leading company for verification purposes. It will be as easy as: log onto the site, deposit, play, withdraw, and only taking seconds instead of hours or days. There is also built in benefits for the operators and regulators as well. 

 

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Operators benefit just as much as the customers with reduced fees.

The next product they offer are Custom Tokens on top of the CSCL (CasinoCoinLedger). This allows other companies to utilize the tech of CasinoCoin while also keeping their own brand name and unique use. Each token will have to use CSC as a "gas", and every transaction will cost .25 CSC, but is subject to change. This is essentially like Ethereum, but with much more scalability and speed designed to handle the immense amount of transactions for the gambling world. These tokens create a vast opportunity to bring in other companies who innitally wouldn't have used the BRM or CSC as a direct currency. Two notable token partners as of today (11/1/2019) are Cammegh, the worlds finest roulette manufacturer in the world, who is utilitzing CSC tech to track every single spin of their roulette wheels for an immutable data record  http://www.cammegh.com / and Egamingfund, a Freemium, Egaming, and Gambling platform all wrapped into one, who chose CSC over ETH and EOS.  https://egamingfund.org / Tokens create a great opportunity for unique and specific use-cases to evolve.  

 

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There are many reasons why I think this is one of the better investments you could make in blockchain. The tech is the best, the team and connections they have is the best in the industry (by far), and the CasinoCoin Foundation has taken a "No hype" approach. They will not share news or give updates until the partners have a signed contract. They are focusing on product and utility first, which is why I am all in with this project. They aren't worried about speculation, pump and dumps, or anything in the market to fatten their wallets. Most of the team have been essentially working for free for the better part of 2 years. That is dedication. They are solely focused on bringing a revolutionary product to a huge market. Honestly, it has been really refreshing in this strange Cryptoverse we have all come to know. They handle themselves like an actual business. This is why I firmly believe CSC, and the Foundation, will change the gambling world forever.

This is a brief overview, as I was just hoping to write a small summary. There were some aspects I overlooked, so if you're interested, you can keep digging.

You can find all of this information, and more, at their official website:  https://casinocoin.org/ 

Or through their Presentation:  https://casinocoin.org/doc/CasinoCoin_Presentation_en.pdf 

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What are the top three problems CSC is solving with their technology in the Casion/Gambling world? I have looked at their website and a few forums, but cant seem to find a simple answer to this. If some of you folks here can kindly give me a highlight on pain points CSC is solving in the gambling world that would be much appreciated. In the mean time ill be reading what I can find.

Edited by Palerider

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On 11/3/2019 at 11:21 AM, Palerider said:

What are the top three problems CSC is solving with their technology in the Casion/Gambling world? I have looked at their website and a few forums, but cant seem to find a simple answer to this. If some of you folks here can kindly give me a highlight on pain points CSC is solving in the gambling world that would be much appreciated. In the mean time ill be reading what I can find.

There's a great new update on the foundation's website answering exactly these questions. 

The problems that each company had, and the solutions provided by CasinoCoin.

 

https://casinocoin.org/partners

 

 

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3 hours ago, codiusrex said:

Casinos ended-up wanting their own white-label branding version of the CSC token and the development team has accommodated them already.

So what’s the value of a CSC token if it won’t be used? According to them, a small amount of CSC is consumed for every custom casino token on their network; theoretically driving the CSC token value up commensurate to a decrease in overall token supply.

Casinos benefit by claiming they have their own “blockchain” token — which solves a problem from a marketing position electronically targeting demographics of casino users’ behaviors & accounting.

The CSC runs on XRPL which makes it ideal for small and frequent transactions.


Disclaimer: I only own XRP — nothing else. DYOR.

 

There's a great new update on the foundation's website answering exactly these questions. 

The problems that each company had, and the solutions provided by CasinoCoin.

 

https://casinocoin.org/partners

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On 11/4/2019 at 5:42 PM, codiusrex said:

Casinos ended-up wanting their own white-label branding version of the CSC token and the development team has accommodated them already.

So what’s the value of a CSC token if it won’t be used? According to them, a small amount of CSC is consumed for every custom casino token on their network; theoretically driving the CSC token value up commensurate to a decrease in overall token supply.

Casinos benefit by claiming they have their own “blockchain” token — which solves a problem from a marketing position electronically targeting demographics of casino users’ behaviors & accounting.

The CSC runs on XRPL which makes it ideal for small and frequent transactions.


Disclaimer: I only own XRP — nothing else. DYOR.

 

Pretty much everything in your post is short sighted. 

Also you lack a lot of new information.

To learn more visit the Official CasinoCoin discord http://CasinoCoin.chat 

 

 

 

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On 11/4/2019 at 5:42 PM, codiusrex said:

Casinos ended-up wanting their own white-label branding version of the CSC token and the development team has accommodated them already.

So what’s the value of a CSC token if it won’t be used? According to them, a small amount of CSC is consumed for every custom casino token on their network; theoretically driving the CSC token value up commensurate to a decrease in overall token supply.

Casinos benefit by claiming they have their own “blockchain” token — which solves a problem from a marketing position electronically targeting demographics of casino users’ behaviors & accounting.

The CSC runs on XRPL which makes it ideal for small and frequent transactions.


Disclaimer: I only own XRP — nothing else. DYOR.

 

 

Quote

Casinos ended-up wanting their own white-label branding version of the CSC token and the development team has accommodated them already.

This statement does not make any sense. Some casinos want a token, some will be using CSC directly . The CasinoCoin Foundation accommodates both and has deals in both areas. 

 

Quote

So what’s the value of a CSC token if it won’t be used? According to them, a small amount of CSC is consumed for every custom casino token on their network; theoretically driving the CSC token value up commensurate to a decrease in overall token supply.

Again this does not make any sense. 'value up commensurate to a decrease in overall token supply.'  What does that even mean, nothing to do with CSC.  It's hard cap at 40B

 

CRNs will hold 1M CSC, 1000 CRNS will take 1B out of the market, Casinos that choose a token for using with lotto or eSports etc will use CSC as Gas in every transaction.

 

The same ETH has ERC-20 tokens, CasinoCoin has its own for Gaming. 

 

Casinos have many options when it comes to using CSC.

 

1. Create there own token, which all use CSC as gas.  Data, game play etc. 

2. CSC as a payment method like XRP, You buy CSC with Credit Card in the BRM, you send CSC to the Casino it is changed to USD you gamble in USD, at the end of the game you send back to the BRM and send back to you bank or choose another casino.  AML & KYC. 

3. 100% CSC casino which means the Casino will have to have a stock pile of CSC on hand for all payout of the casino. If you can win 10,000 USD on a slots game, by law the Casino must have 10,000 USD worth of CSC on hand. 

 

It's the fact that CasinoCoin is targeting all layers.  Users, Operators, Regulators

 

This is a very basic overview. 

 

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On 11/3/2019 at 10:21 AM, Palerider said:

What are the top three problems CSC is solving with their technology in the Casion/Gambling world? I have looked at their website and a few forums, but cant seem to find a simple answer to this. If some of you folks here can kindly give me a highlight on pain points CSC is solving in the gambling world that would be much appreciated. In the mean time ill be reading what I can find.

I'll do a short list of what I think they are solving.

1: BRM allows online casinos to onboard players instantly. Not a huge deal, but does save the gambler time from signing up to each new sight they want to gamble on.

    1A: As you can see in my article above, using CSC instead of other options saves operators a LOT of money.

    1B: Regulators also benefit as every transaction is on an immutable ledger, which is easy for auditing. Also, everybody is KYC'd before they can play, so everybody knows that player is legit.

2. Data is a huge bonus to any casino, whether that be land-based or online. There are a few ways that  casinos benefit from using blockchain tech in a regulated gambling environment for data.

    2A: Cammegh, the worlds leading roulette manufacturer, decided to create a custom token on the CSC Ledger for immutable data. This allows them to sell a better product to its customers (Casinos) by verifying every spin of its wheels.

    2B: Loyalty Programmes. GFG (Egamingfund token on CSCL) is the first to use its token for a casino's loyalty programme. CSC is apparently in advanced talks with other casinos to implement loyalty programmes (which could be a custom token or direct csc usage). This allows the casino to better track what each player is spending their money on. The players also use the token or CSC directly as a currency for any purchase within the whole casino/hotel chain.

    3C: Casino Management Systems can also utilize this tech to better help casinos track players and keep things safe and fair.

3: Direct Currency for landbased casinos: CSC can be used as another option to the traditional ones like fiat. Cashless systems are becoming more and more used within landbased casinos. I don't think it will be long before it becomes the standard.

4: Microtransactions for Egaming: The GFG token will utilize CSC tech for being fast and for being able to handle the many transactions gaming and gambling. Any other business could utilize this to become faster, cheaper, and more data driven.

CSC will impact the gambling world like XRP will the financial. Are either ACTUALLY needed? No. Do they both offer amazing technology to make things more efficient? YES.

I could probably list some more and have overlooked some obvious ones I'm sure, but I am out of time :D Hope this helps.

Edited by HolyK1cks

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On 11/1/2019 at 3:49 PM, invest2lose said:

so dump xrp and buy csc?

I think buying CSC now is like buying XRP when it was .006. So based solely off ROI, I did just that :D XRP probably has the better ROI long term (5-10 years) than CSC does. Both coins have massive usecases and utility potential.

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