Bitcoin is not truly anonymous, and that opened up an opportunity for crypto currencies aiming to offer complete privacy and anonymity. Darkcoin was the first crypto currency to securely offer such features. The currency was launched on the 18th of January 2014, with the brand Xcoin but the creator, Evan Duffield, changed its name to Darkcoin a few days later. Darkcoin soon became popular and its growth became apparent right after the implementation of Darksend allowing users to choose whether the transaction is public or private; and with the creator working full time with Darkcoin the future for this coin looks pretty promising.
Now Darkcoin has entered the online gaming Market. Two online gambling platforms DirectBet.eu and Unioncasino.com recently implemented Darkcoin payments for their services in addition to cryptocurrencies Bitcoin and Litecoin. It seems that the technical specifications of and its anonymous properties make Darkcoin a perfect candidate to the needs of existing business models of online gambling sites. To better understand about the integration of Darkcoin and the role it could be playing in the online gambling market, Bitcoinist contacted the DirectBet online gambling site where the team promptly gave us some answers.
What do you think about digital currencies and why did you decided to start accepting them?
Virtual currencies allow us to provide a completely instant and anonymous type of sports betting. No accounts are needed, not even an e-mail address.
You simply send your bets to a designated address and your winnings are sent back directly to your wallet, automatically, within minutes of the result.
No questions asked. No more waiting for withdrawals. No withdrawal fees. No longer do you need to park your money on 3rd party websites and hope that it will be there when you need it.
Most importantly, no longer will get your account locked or limited when you are a big winner, because anonymous betting does not allow anyone but you to track your results.
Virtual currencies also allow us to accept bets in places where betting with real money is not allowed. We do not accept bets in real money.
The “My Account” -> “Deposit” type of wagering belongs to the 90s.
Today, you can bet with your coins and keep them safe in your wallet under your control while they are not in a wager.
Does having integrated cryptocurrency payments on your site has been given you a positive outcome?
Yes most definitely. Since we started to accept cryptocurrencies we have seen our number of user rise.
What’s your position regarding the potential of DRK for online gambling?
DirectBet accepts bets in Bitcoins, Litecoin, Dogecoins and Darkcoins. We recently integrated Darkcoin as some of our clients raised concerns that due to the nature of the Bitcoin blockchain, transactions are traceable and the anonymity can be compromised.
Darkcoin was therefore a natural fit for us as it offers superior transaction anonymity using Darksend.
Another advantage of Darkcoin is that it features faster confirmations, meaning that you get your winnings faster. With the upcoming instant transaction technology known as InstantX, bettors will be able to bet, win and receive their winnings instantly, all within a couple of seconds. This is particular useful for our provably fair block chain based dice and poker games.
Tell us what you think about Darkcoin being used for online game sites.
Nuno Menezes is a Portuguese Bitcoin Entrepreneur and a crypto currency’s enthusiast supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies. Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.
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