There are few industries or communities as closely linked as casino and cryptocurrency. MintDice, an online cryptocurrency casino, recently launched with four games users are able to play from anywhere in the world. Be it a high tolerance for risk or innate desire to find a profitable edge whether in the financial system or a game of poker, there is plenty of overlap between those that take casino games seriously and cryptocurrency aficionados. In fact, many of cryptocurrency’s rising stars projects were founded by entrepreneurs who also happen to be enamored with poker.
Founded by Bryce Daifuku, a former professional poker player and early Bitcoin investor, MintDice is poised to be a great use case for everyday adoption of cryptocurrency. We got a chance to connect with Daifuku and pick his brain on the evolution of the casino space and what the cryptocurrency industry needs to do to evolve.
How did you get into crypto?
As a former professional poker player, I had a lot of exposure to gambling a number of years ago. Cryptocurrency was a perfect match for many poker players because it filled a niche of financial freedom that many in our industry craved. Bitcoin also had high synergy with poker players’ notoriously high-risk tolerance. Naturally, it was just a matter of time before I would get involved.
After first dipping my toes into cryptocurrency when prices were as low as $100 per Bitcoin, I decided to buy a lot of Bitcoin when the prices were in the $150-200 per coin range, inspired largely by investment through Dooglus’ Just Dice website.
Years later, I have decided to widely expand on the idea Dooglus initially invented to provide a superior cryptocurrency experience for enthusiasts everywhere.
Why is now the best time to launch an online casino?
Most growth industries tend to undergo an ‘S’ curve for adoption. This equates to slow growth at the beginning, very high rates of adoption in the middle stages and low rates of growth at the end once the market is saturated.
I believe we are presently somewhere near the end of the early stages for online casino adoption which could signify rapid growth in the industry in the coming years through the 2020s. While online gambling has been around for a couple of decades, only recently has the technology been so easily accessible to mass markets through cell phones, apps and wider internet access creating a ripe market for explosive growth.
Many incumbents naturally may feel threatened by new players on the scene. How do you see the real world casino industry reacting to online casinos?
I think the smart and capable real-world casinos are quickly embracing the technology, seeing it as a highly scalable and inviting industry. Not every casino may hold this same ideology or may have the necessary user base to create such high-quality software but nonetheless, you can already see this happening from several major players.
Many land-based casinos are either developing their own software or are partnering with established online companies or some combination of both. While I think the allure of land-based casinos will continue to exist and prosper, the majority of new growth and expansion money will come from online based casinos over the next decade or two.
Can you run us through how games work on MintDice?
We have divided our game types into two major sections: Casino Games & Social Games.
The Casino Games are all built from the ground up and include online crypto Dice, Slots and Plinko, each with state of the art graphics, design, and functionality. Additionally, we are planning to launch a low-cost lottery with a 1,000 BTC Jackpot by September 2019, so keep an eye out for that one!
Slightly differently, our Social Games may or may not require the actions of other players in order for the full experience. We are launching with Bit.Rocket which will be an innovative game where you will want to be the last player to cash out before the rocket explodes. Very soon, in July of 2019, we plan to roll out Pyramid, another PvP game that should be extremely exciting hosting massive jackpots. More details about this game will be released soon.
On our road map, we are also planning to include two more social PvP games that will each launch at some point during 2020. In every Social Game case, it is extremely important to us that the games are played fairly, are played by humans and are heavily bot-resistant, so we are looking out for you, the user, as best we can! The good news is that if you have the best strategies out there for any of our Social Games you can skillfully win your way serious amounts of Bitcoin.
Finally, I’d like to mention that every single game we offer on MintDice is using state of the art Provably Fair and transparency policies whenever possible so you are assured of getting a fair shake every single time you play on MintDice.
Can you touch on the team’s experience leading up to MintDice?
Building a proper website with an extended vision and road map is not a simple monolithic process, however, it is always the goal to appear that way by the end of it. That typically signifies a job well done! There are multiple areas of expertise within MintDice. Our single most important concern is having a hardened and high-security backend that keeps our games fair and our customer’s and investor’s deposits safe, so we have devoted a lot of energy towards this.
Our second major concern revolves around having an exceptionally high-quality user experience. We accomplish this by having specialized experts at animation, front end development, graphic design, sound design and much more to create an inviting yet simple environment that engages all walks of life from beginners to more advanced players.
Finally, coming from both a gambling and cryptocurrency background myself, I have attempted to really intertwine the essence of fun cryptocurrency memes, jokes and easter eggs throughout the website with ongoing development towards this vision to keep our website engaging to our demographic since it is built from the ground up and is therefore fully customizable.
Additionally, from the gambling perspective, I want to create a very wide variety of novel game types to appeal to multiple types of players. Between classic yet innovative casino games, our unique bot-resistant social games of skill or our soon to be released 1,000 BTC jackpot lottery, there’s something for everyone.
What events do you think need to happen to facilitate the mainstream adoption of blockchain-based projects?
Ease of use and necessity of use are the two major things that come to mind for anything Blockchain. The major boom to internet growth and adoption has happened with cellular devices allowing your Grandma to use the internet both cheaply and easily. The same principles cannot be said about cryptocurrency as a whole whatsoever. Cryptocurrency requires a high degree of sophistication and specialization in its present form, no different than the internet back in the 90s.
The day that using cryptocurrency is so easy that a basic user may not even be aware that they are using cryptocurrency is the day that mainstream adoption can truly take place, which may take a decade or more to accomplish.
However, this type of adoption in the short or long term will largely only take place in markets where fiat is not convenient. One of the best real examples, by no coincidence, are online casinos. There is a lot of friction between online casinos and traditional fiat payment systems. Cryptocurrency makes this entire process relatively seamless in comparison and consequently can offer much better rates and services than fiat based online casinos.
Meanwhile, websites like Overstock.com that accept Bitcoin for payment for their products, while nice in theory, solve very few real-world concerns that average ordinary users care about. So I expect to see very little real growth in these types of industries until real innovation or use cases can compel your average user to do so. I’ll happily admit that while I personally enjoy using cryptocurrency as a form of payment whenever possible, I fully realize that I am in a tiny minority and that it solves very few problems that people at large truly care about.
Other than MintDice, what are a few of your favorite projects in the space?
There are many projects that I find fascinating in cryptocurrency space but it’s hard to know how long, if ever, it will take for them to come to fruition. Let alone simple Bitcoin adoption. And more than anything, I simply want cryptocurrency as a whole to succeed. That said, I think the two single most important projects for cryptocurrency and Bitcoin are scalability and privacy.
It’s no secret that Bitcoin has a scaling problem and this has been a point of serious contention and debate. Whether the lightning network or competing for cryptocurrency networks may offer the solution waits to be seen, but either way, I think this is one of the single most important things to cryptocurrency’s overall success.
Secondly, I think financial privacy is very important. Bitcoin has offered a few solutions and I hope they continue to progress in development as cryptocurrency grows. I also fully support the continued development of major competing altcoins, like Monero, as a proof of concept if nothing else.
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