Until you didn't get completely infuriated at me due to the title picked for this article, let me just start off by stating that I'm by no means a STEEM crazy fan or shill, nor the article that you're reading is in any way sponsored. Therefore, in the following sentences will try to justify the neutral unbiased reasoning behind such a choice.
That being said, let me just jump right into the story.
INTRODUCTION
My first BlockChain Casino that I decided to invest in was on the EOS BlockChain called back then still BetDice (October 2018), before they rebranded into Dice a couple of months later.
Getting involved into Gambling never was actually a part of my "money making philosophy". However, thanks to the BlockChain technology and CryptoCurrencies, now simple citizens got as well the opportunity to participate not only as Gamblers, but also as Share Holders where they can buy into the native token of a particular Casino and once staked/frozen/blocked -- getting daily dividends from the daily profits made by that Casino; privilege that up until recently was available only for the Accredited Investors or other few-select classes and groups.
It's important though to not confuse Crypto Casinos with the BlockChain Casinos, since the Crypto ones are almost the same as the Traditional, like Bitsler for example, the only difference being that you can play with Crypto instead of FIAT.
If you want to truly go beyond the Traditional frontiers of a Casino and experience what the BlockChain can offer you -- you have to learn how to use Decentralized Applications and bridge/gateway-wallets like MetaMask, Scatter, TronLink, KeyChain etc...
CASINO DAPPS
So, I was watching closely the dApp arena ever since its inception with the launch of CryptoKitties in November 2017, although State of the dApps claims Steemit is also a dApp despite not being based on Smart Contracts.
Anyways, controversies aside, during this period I've seen a bunch of Casinos emerging first on ETHEREUM, but I ignored all of them, whereas was thinking the only stuff I could do on them was Gambling.
It took me almost 1 year, when after coming across EOS BlockChain, once it launched its MainNet, to see the rest variety of the things that I could partake in inside these Casinos. Another very interesting feature, in contrast with the Traditional Casinos, was that here I could also get a certain amount of the native tokens literally for each bet/rolling that I would execute.
As a matter of fact, especially in the early days of the EOS MainNet, the dApps' scene was highly dominated by these Casino platforms.
DICE & TRONBET
Anywise, after intense pondering, I made the decision to extract a part of my funds from the Proof of Weak Hands famous ETH dAPP and transfer it on the EOS BlockChain to buy DICE tokens; then I staked them and started getting daily dividends. For the next couple of months, I was more than pleased to witness how rewarding my decision was, multiplying my investment 3X, 4X,... while in P3D the things remained pretty much stagnant.
A while later, once TronBet also launched finally their native token (ANTE) on exchanges towards the end of December 2018, I got also involved on the TRON BlockChain via TronLink and made some decent profits.
SIDE EFFECTS
But despite a very successful debut, things started turning little by little...
If you take a look now on NewDex, you can see that after reaching its highest price around December 10th 2018, the DICE token was in constant downfall ever since; and Today it's valued at a price lower than it was even back when I got involved in October 2018. However, this doesn't mean I lost because I took out a good chunk of profits to pay for my bills and other necessities, and also performed some successful tradings here and there during ups and downs.
In TronBet I got at the end of December when they finally launched their token (ANTE) on the exchanges. Most of them, I was inspired enough, to buy at a very good price (15TRX per 1 ANTE) and then re-invested a lot of the dividends on the way up. I already was able to take some profits out from here as well, but still have some Frozen ANTE that continue bringing me daily TRON and BITTORRENT dividends. So yes, I'm doing pretty well with it thus far...
But unfortunately this isn't the case with all the BlockChain Casinos that I got involved with. For example, during this period I also invested in ToBet and even EOSFish; and although in short-term they performed significantly better than Dice and TronBet, after a short while they failed miserably and I lost my invested funds.
I also was thinking at some point to invest in RoyalOnlineVegas and DEOSGames; but good thing I didn't since looking now at the charts -- I would have lost as well.
So, making a total calculation of all the BlockChain Casinos that I was a part of from October 2018 until present, I can proudly say that I'm a winner whereas the profits are bigger than the losses. This is due to Dice and especially TronBet.
However, this involves a lot of risk and stress, because you have to make a very difficult decision of exchanging the main coin of a specific BlockChain (ETH, EOS, TRON etc...) for a token of a Casino. This is a gigantic problem, at least for me personally; because yes -- I might earn some decent dividends for a certain interval, but if the Casino fails and people stop using it, I can see drastic price falling in as fast as 1 day.
And if I don't manage to be quick enough to sell these tokens (which usually I'm not, whereas they are staked/frozen/blocked for at least 1 day; besides I can't keep my eye on the performance of a Casino 24h/day), the price difference creates much bigger losses which simply wipes out all the previous gains that I was receiving from dividends.
In addition, you never really have full access to know what is truly going on behind the scene, even if you deal with a Smart Decentralized Contract; and now even this is not very reassuring since the majority of these Casinos refuse to open-source their Contracts because of the "worry of the competition".
A POSSIBLE SOLUTION
So, in searching for a more stable solution, I came recently across STEEM BlockChain. I'm actually on Steemit since March 2017 (2 years ago), but now that they're launching SMT (Smart Media Token) to tokenize the STEEM BlockChain as well, it attracted my attention even more.
And among all the writing dApps characteristic for the STEEM BlockChain, Jesse Reich (Aggroed) and Yabapmatt already had proven that you can build other types as well when they released the SteemMonsters -- a decentralized digital card trading game.
In this way, on November 26th 2018, a STEEM Casino dApp was born called MagicDice. From technical stand point, there are some key-differences, whereas the STEEM BlockChain doesn't provide Smart Contracts; but from Users' stand point -- everything is pretty much the same. Except, of course, one thing; one big thing!
RENT INSTEAD OF SELL
In fact, this is the reason behind the title of this article. The thing is that instead of selling the main coin of the BlockChain (STEEM) in order to acquire the Magic token, I could just simply rent my STEEM POWER thanks to the Delegated Proof of Stake protocol via KeyChain or SteemConnect and get daily Magic tokens in return.
In this very way, I keep 100% ownership over the main coin, getting on top of that daily native tokens of the Casino + daily dividends paid in Liquid STEEM that I can withdraw immediately to my personal wallet without any fee. You can look at the screenshot below to see what I got so far just for a few days of renting my STEEM POWER.
Evidently the more you rent -- the more you get.
And sure thing, I perfectly realize that STEEM Casinos aren't yet as popular as the ETH, EOS or TRON ones; and perhaps they'll never be, but that's not what I'm most preoccupied about. And obviously there are more things that should be taken in consideration. However, according to my own past experience, the ability to preserve the main coin in addition of getting the native Casino token is the most crucial and gives me the necessary peace of mind.
You can join MagicDice here: https://magic-dice.com/?ref=cryptoeera
To be fully transparent, this is my Referral Link, in case you choose to do so.
In conclusion. It's without any doubt a fascinating time to be alive in, you just have to open your eyes and realize it. The CryptoVerse offers indeed opportunities that only a couple of years ago were unimaginable, and Casinos are rightfully one of them.
Gambling is a huge industry and now that is easier than ever to position yourself not just as a pure Gambler, but also as a token holder -- is very captivating and empowering, to say the least. It diversifies considerably your ability to capitalize on the enormous industry of the Casinos.
And all this combined with the DPOS, where you can rent/lease/delegate your main coin for getting native tokens of these Casinos without the risk of losing the ownership over it -- is the the cream of the crop as far as I'm concerned!
Don’t hesitate also to visit the rest of our profiles:
http://bit.ly/tUUUdoR_INITIATIVE
http://bit.ly/SSteemit
http://bit.ly/TTTrybe
http://bit.ly/SSapien
http://bit.ly/MMinds
http://bit.ly/MarketHive
http://bit.ly/YYYouTube
http://bit.ly/IIInstagram
http://bit.ly/LLLLLinkedIn
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Images’ source — Pixabay.com
Everything that I state in this article is for Entertaining and Educational purposes only; nothing should be interpreted as a Financial Advice. Don't believe my words, do your own research.
