In a surprise move, Bovada Casino has begun to accept Bitcoin Cash as a method for depositing funds into a players Bovada account. The decision signals the possibility that the increased use of Bitcoin Cash is not a temporary market fluctuation and that online casinos are taking the cryptocurrency seriously as an alternative to the original Bitcoin. Online casinos were early adopters to the original bitcoin and played a major part in the expansion of Bitcoin worldwide as an alternative to more traditional banking methods.
While some in the cryptocurrency world may consider the accepting of Bitcoin Cash as a sign that the relevance of many non-bitcoin cryptocurrencies are in danger of becoming only ghosts from the early days of cryptocurrency, the real issue is the competition between Bitcoin Cash and the original Bitcoin Core. Many users are switching from the original bitcoin to Bitcoin Cash due to the faster processing times and the lower transaction fees. Some believe that the group Blocksteam has done nothing to reduce costs and make transactions quicker is a ploy to maintain the status quo,remain in control of the cryptocurrency market and create dividends for banking investors.
The announcement that the Segwit2x project would be abandoned because of a lack of support and excitement by the bitcoin community has caused a surge in the use of Bitcoin Cash for transactions such as Bovada Casino and increased the value of Bitcoin Cash, while the original bitcoin has seen its market share and value decreasing. Bitcoin Cash proponents that the Segwith 2x project was merely a power grab by the Blockchain community and would give big dividends to Blockchain members and the investors from the traditional banking industry.
The acceptance of Bitcoin Cash at Bovada does not change the casino’s policies with the original bitcoin and will continue to accept the cryptocurrency. The growing number of payment options at Bovada and other casinos is a win for the players; bettors and casinos are constantly looking for new and dependable banking options and Bitcoin Cash fits that definition. The casino and cryptocurrency worlds will continue to help each other grow across the world. Bitcoin Cash users have a new betting option with Bovada Casino in the form of Bitcoin Cash; many other betting sites will more than likely follow Bovada’s lead and give players of those sites more variety too.