Why You Should Not Be Excited About The Unikoin ICO
As many have heard, A Mr. Mark Cuban known for being a headfast democrat as well as a judge on the popular Television show Shark-Tank, and Sir Ashton Kutcher, have both decided to back the new unikoin ICO.
Mr. Cuban
Sir Ashton K.
The nature of the Unikoin is sports betting that is based on the ethereum platform. Being from Vegas, I am quick to understand the importance and hugely profitable nature of betting, yet I still do not support the idea of putting money into the Unikoin ICO.
The problem with Unikoin is two-fold. The first is that the coin is only capable of handling sports betting, which is such a small percentage of total money allocated into betting. I have never heard of a casino that has just a single game to play. This is relevant when we examine the fact that the coin does not currently exist. This is hugely problematic when we look at the reality that right now several gambling coins have already launched. While they may not have the backing of Sir Ashton Kutcher, they already exist. Perhaps even more importantly, the coins that currently exist, are able to handle as many types of games that you can think of. One such coin includes Peerplays, and while the variety of games that will be offered in the future may not exist just yet, atleast the coin does.
The second reason why Unikoin should not excite you, is the fact that it is based upon the ethereum blockchain. This means SLOW transactions, and for betting, they need to be fast! This can be compared to the aforementioned alternative peerplays, which utilizes Graphene. Graphene can handle transactions 30,000 times faster than ethereum. This would mean nearly instantaneous payouts for betting. Also you are not locked into sports.
Thanks for reading this post. Steem on.
you have a good point about speed being important. I can see where that might be a problem in the gambling world.
Thanks for the comment. I figure the same. Imagine a three day lag on payouts because ethereum is busy not doing a good job.
The gambling realm is definitely going to greatly expand due to cryptos
I couldn't agree more! Ill give you a follow.
what a gr8 helpful to the point article. Really amazing.
Up-Vote+Re-Steem+Follow
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Hey thanks for the comment, Ill follow and hope you do the same!
I already follow you dear:-)
Please upvote my post to keep me motivated:-)
If Cuban is for it, I might go against it.
haha! I know what you mean!
;), I should try to keep this professional, but lets just say. yup.
But Ashton knows whats up, so I am at a loss.
thanks a lot! I had the same reservations somehow, even though it sounds interesting.
LOL @ mark cuban. Poor guy, got lucky as fuck in the 90's and now thinks bitcoin is in a bubble lol
haha how right you are. My brother actually wrote an article on that exact subject. I resteemed it.
Always great content! Thank you again.
I also have high hopes for Peerplays. The creators hope to make a decentralize organization for peer to peer transaction... This thing is just basically a company using fucking digital CHIPS. It have no revolutionary application. Like many things in the dotcom bubble, this shit idea will pop.
Yah I agree. I am also looking forward to Peerplays kicking so much ass.
This could slow down the Ethereum network even more for a long period of time and it already has had some major disruption to date 🤔
That's why the almighty Graphene must come in and save all the puny blockchains!
That 3 day backup of ethereum traffic would have been completed in 1 second under graphene.
Upvoted. Shared. Liked. Resteemed. This is good to look at. ICO is interesting.
I have some Bitcoin.
Rock on.
Unikrn isnt sports betting, its eSports betting which actually is a very prosperous industry. Market research firm Eilers & Krejcik Gaming had projected that the unregulated eSports betting market would generate the amount of $7.4 billion in betting turnover in 2016, and is expected to grow to 21 billion by 2020. If you look at their white paper, they will be expanding to land casinos which can be very adventagous, especially during the big eSports tournaments such as League Of Legends Championship which had a viewership of 46 million people during the finals in 2016.
Thank you for the insightful comment!