Have you ever wished you had a wallet that will magically replenish itself after you spent the money in it? An impossible dreamy idea for sure but welfare and the pension is exactly this – except that you have to qualify to receive those benefits and they are basically society’s safety net, dependent on taxation and may not be sustainable. UBI and URI as proposed by Dan Larimer if implemented would be nearer to this reality as the only qualification to receiving this free money is to prove that you are alive.
This article today is to tell you that there is now a way to create such a wallet for yourself. First a little background.
Walk into any casino and you will see no shortage of patrons. Casinos take a rake for providing betting services to their customers, and unless fraudulent, they never lose money, and really, the only way to win in a casino is – to own it.
EOS casinos will totally disrupt the online gambling industry
Online Casinos have been around for as long as the internet. They are heavily regulated and the authorities exercises control over them through the fiat on/off ramps and strict identity verification. Legal online casinos base their operations in friendly jurisdictions while the illegal ones play a game of cat and mouse with the authorities.
If you are an EOS convert you would have noticed a whole host of online Gambling dapps running on the EOS blockchain. These operations do not need their own servers, so the problem of locating their physical servers does not arise. The punters do not need to register or provide any form of ID before playing, eliminating two of online gambling industry biggest problems.
EOS casinos can also demonstrate that their games are provably fair, and all transactions can be verified on the EOS blockchain. Eos casinos will totally disruptive to the existing online gambling industry, which is projected to have a global revenue of 60 billion in 2020.
A share in such an enterprise can be more valuable than a share in Google.
For the time being this is unclear. Eos casinos do not deal in fiat, and tokens are not considered legal tender. The authorities can go after the organisers and developers, like they did Bitcoin in the early years. And like Bitcoin, once thsee dapps achieved critical mass they will be impossible to stop as there will be no central point of failure to target. The developers are indistinguishable from any other token holders.
A magic Eos wallet that replenishes itself daily
An Eos casinos is the perfect digital autonomous corporation. Once set up they will be totally self sustaining. This is the nature of gambling. The demand and customer base is insatiable. Initially these gambling dapps offer token mining. This is a great way to build up a customer base quickly. In the long run, token mining will play a lesser role and fade out altogether. The rake will sustain the enterprise in perpetuity.
As these casinos pay their dividends daily, owing a share in such a dapp will enable the owner to automatically receive a revenue stream daily. A magic Eos wallet that replenishes itself daily!
This is the latest development in blockchains technology – Revenue Tokens. There may be many other revenue tokens such as Horus and HVT, but gambling dapps are live and working – now.
Eos Poker Magic Wallet
There will only 10 million tokens (shares) in Eospoker. After 1 month of operations, The maximum users ever playing on the site is about 800 players. The average daily profit is just under 10,000 Eos, The average daily dividend is about 0.02 Eos per token. ( just less than 50% of the tokens have been mined)
Say is all the tokens have been mined and Eospoker captures 1% of total online gambling of 60 billion, It will be 60 million USD or approximately 1.6 million USD a day. The current earning is approximately 50000 USD a day. The future potential of this DAO is huge.
This is just a very new development in the crypto space. Eos casinos will disrupt the online gambling industry and will even take it to greater heights. Let’s see if it does.
Betdice – the industry standard
Betdice in my opinion is the industry standard. They are leading in development and innovations. You get paid hourly and in any token that the platform accepts. It also has a built in token exchange. Imagine sometime in the future when you pay for your cup of coffee simply by claiming your dividend! This is the futue. Get your share. You can purchase these shares on Newdex or Bancor or gamble on the site. Currently the house edge is offset by the site tokens and may be a net gain. Possibly compensating for your time and effort.
Eos Poker have just updated their site and with that it is apparent that the same developers are behind these two sites. Betdice is aimed at the asian community while Eos Poker is targeted more at the western societies. I wish to thank you in advance if you use my referral link and I hope you profit handsomely.
OK – So how does one get such a wallet?
Assuming that you have never been in EOS or even crypto before. Go to Google play store. Download and install EOSlynx wallet. You can purchase an EOS account for about $1.69 USD and pay through your credit card. Use any 12 character name you like. The account will ask you to save and verify the private key associated with your new EOS account. Once completed you will have an EOS account in your Lynx wallet. This is the hardest part. Once pass this you will be open to a whole new world of EOS which is more than just buying tokens and hoddling. (Speculating) In fact price is the least interesting part.
If you manage to get some betdice tokens in your lynx wallet then you will have A MAGIC WALLET!
If you leave your account name in the comment below I will send 10 Dice tokens to that account to get you started. It is only a magic wallet if the daily dividend you receive does not erode your capital investment. In this case it does not. In fact it will increase over time as the platform matures and gain more users and revenue as it surely will. How much can Dice tokens be worth? Bitcoin was only worth cents in its’ infancy and it went as high as 20K. It does not even pay a dividend!