65 bil this year. remind me again how the regulators killed crypto casinos

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cryptoEgo

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month on from revolut pulling usdt and the sky hasn't fallen. crypto gambling projected over 65 billion this year, up from 81 billion last year. stablecoins are past half of all wagers now, usdt still sitting on about 60% of the stablecoin market. mica did what exactly. movd some people from one dollar token to another dollar token. every single person who said this was the end of crypto casinos was wrong and none of you will say so
 
went and found the original because this line has been bugging me.. he's right, its in the brackets. sixty five billion market size, eighty one billion transaction volume. two different things
so the number isn't wrong, the sentence is. and every site that's copied it dropped the brackets and left UP FROM sitting there comparing two things that don't compare

which is worse in a way. a wrong number gets corrected. a badly built sentence just gets repeated
 
well don't enjoy it too much pal because the number doesn't say what you want it to say!
read that broke the deposit data down properly. most individual deposits are still under a hundred dollars. the bulk of the volume comes from a thin slice of high balance wallets. and three operators handle the majority of everything that's tracked
so the growth is real and its whales at three sites. that's not a thriving decentralised market, that's a concentrated one with a long tail of small players making up the numbers
 
on the practical side, a month in and im still not sorted
two people i know did nothing before the 31st and woke up to euros. converted at whatever the rate was at that moment, no warning on the day
what i actually want to know is who is holding a real usdc balance rather than converting it the second it lands. half the sites i tried take usdc at the cashier and then quote me in usdt and now i don't know what im holding
 
Because USDT is banned in the EU now. That's the whole point. Any site still quoting you in it is breaking the law and you should not be within a mile of them.
 
It isn't banned. That's a genuinely important distinction and it's worth getting right because a lot of people are repeating it.
MiCA regulates intermediaries, not ownership. What happened on 1 July is that a MiCA-licensed exchange can no longer list or offer USDT to EU customers, because Tether never applied for authorisation and Circle did get it for USDC. Holding USDT in your own wallet is perfectly legal. Sending it somewhere is legal. You just can't buy or sell it through a regulated European venue anymore.
So a casino quoting you in USDT isn't automatically breaking anything. Where it gets murky is an EU-licensed operator accepting it from EU players, and that's a question about the operator's licence rather than about the coin.
 
Splitting hairs. Coinbase dropped it, Crypto.com dropped it, Binance, Kraken, Revolut. When every regulated venue on the continent removes something, calling it "not banned" is a technicality that helps nobody.
 
It helps the person holding it in a wallet wondering if they've committed an offence. Which is most of the thread.
 
@pixelboi metaspins holds it properly for me, balance stays denominated in what I put in. That's the main reason I've stayed there, 2 click signup and the payout hits my wallet without a conversation. Check it with a twenty. Deposit, look at what the balance says, withdraw. Takes five minutes and it's the only answer you'll trust.
Dual rail is what most operators have landed on by the way. USDC for European facing, USDT everywhere else. Which means your experience depends entirely on which entity your account sits under and nobody tells you that at signup.
 
my brother in law got converted. 800 euro or so. not angry bout money, rate was ok. angry that one email in july was the whole warning. who reads email from bank app? nobody. i have 400 unread
 
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