From Gambling with Gold Coins to Bitcoins

The First Wager

Wager - From Gambling with Gold Coins to Bitcoins

Many people would say that gambling is both an art and a science. And you could bet that there are a lot of supporting writing about it. But who thought about it?

Well, evidence suggests that gambling dates back to the Paleolithic period. Basically, back in the days where everyone was still learning the science of cave architecture.

And when man was still figuring out how to draw a straight-line using animal blood and plant stains and the occasional neighbor’s blood.

It’s crazy to imagine what it was like when the first dude who thought about gambling wagered for the first time. Did he wager on something important? Like his favorite club against a shiny rock? Or was it more like a dare?

The bravado of an inexperienced caveman teen saying that he could catch a sabre-tooth tiger with his bare hands.

Whatever it was we will never know but that first act forms the foundation of what we call today as gambling. And we have a lot of these activities nowadays. We gamble on anything from sporting events to card games, animal fights and even human fights.

The idea of wager has remained what it was since its invention.

The Invention of the Dice

Invention of the Dice 1024x683 - From Gambling with Gold Coins to Bitcoins

And about 3000 BC gambling saw another evolution when the dice was introduced by the people of Mesopotamia. In this period, we were gambling on odds. We prayed and sacrificed just about anything to change the odds in our favor.

We have been doing it since time immemorial but this time we have put a mechanism on it.

The dice is still around and still one of the most favorite means of gambling. We see it every day and everywhere. The dice is also very easy to transport and you can always have one or two in your pocket.

The  Digital Gambling Arena

Digital Gambling Arena - From Gambling with Gold Coins to Bitcoins

The new arena in gambling is the cyber world. The new Las Vegas or Macau casinos are no longer made out of bricks and stone. They are made of 0 and 1. They are nothing like the old gambling casinos or gambling ways.

In the digital age, gambling has changed to something that is difficult to imagine.

In ancient times when you gamble, you simply have to declare it and then bring out some dice and your gold. But nowadays you bring out your cryptocurrency and your digital dice.

For one, cryptocurrency has no clear governing body yet.

However, the casinos that are operating and allowing the use of cryptocurrency must have the appropriate license to operate. Cryptocurrency also brings the fact that they may have value today but could lose that value by tomorrow.

It is also important to note that cryptocurrency by its nature can protect the identity of the player far better than traditional gambling.

And this also creates problems for authorities who are trying to make sure that gambling remains secure and will not fall in the hands of those who might use the sites as a way for undesirable entities to trade using cryptocurrency.

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