New York City Casino Will Include Crypto Trading Floor
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The term “cryptocurrency” refers to a type of digital currency. It is possible to manage and exchange traditional currency online, but this is not the same as owning cryptocurrency. Cryptocurrencies are distinct because they are a decentralized and democratic alternative to government-issued currency. Governments control the supply of money in centralized banking and economic systems, printing more when necessary. Cryptocurrencies, on the other hand, are intangible money that only exists in digital form as coins or tokens. Each form of cryptocurrency has a limited supply, which means that firms or governments cannot create more.
Some individuals are wary of cryptocurrencies becoming mainstream. Others, on the other hand, argue that they represent the future of money and that they will eventually replace government-controlled centralized currency.
Today, bitcoin can be traded on services like Coinbase and used as regular money to buy items, rather than only for investment or trading. Because of its decentralized structure, it offers the following benefits:
Banks should be eliminated from the equation
When you transfer traditional money, the bank charges you fees as a middleman. In the case of cryptocurrencies, the network members themselves operate as a middleman in the blockchain, and they are compensated minimally. Furthermore, anyone with a smartphone may use cryptocurrency to make payments without having to have a bank account (and pay the respective fees attached).
Less Devaluation
In the case of an economic crisis, government central banks can issue money, devaluing the currency and causing unintended consequences (such as inflation). The majority of cryptocurrencies have a finite quantity. There is no central entity that can produce new units once all of the existing ones have been distributed.
The Cash Is Actually Yours
People relinquish control of their conventional money to banks and governments. Some governments have already blocked citizens’ bank accounts or taken their wealth during times of crisis. Only you have access to and utilise your money in the case of cryptocurrencies.
A $3 Billion Casino in Manhattan is being planned, including a Gigantic Crypto-Trading Floor and a Flying-Car Landing Pad
A multibillion-dollar casino with space for cryptocurrency trading and a landing pad for flying cars is being considered by a Las Vegas-based asset manager and a gaming conglomerate as an addition to New York’s famed Manhattan skyline. As per NonStopCasino.org guide to the best casino sites, that is a real breakthrough in both casino and crypto areas.
As per plans seen by Insider, UE Resorts International, a consortium of Japan-based gaming technology provider Universal Entertainment Corporation, in collaboration with Jason Ader, a former Las Vegas Sands board member, had intentions of offering up a pitch for the casino to the local betting regulator by December 10, 2021.
Their projected crypto trading floor would be the world’s largest, as well as an esports stadium and a venue for events like New York Fashion Week, the US Open, and Fleet Week.
The idea, according to Ader in an interview with Bloomberg, was to create a distinct but complete approach to entertainment that went beyond casino gambling with crypto and included some fairly fascinating components.
Given the high price volatility of digital currencies, the proposal to include a trading floor resonates with the debate over whether trading them is investing or wagering. The Securities and Exchange Commission’s chief regulator, Gary Gensler, has compared the market to casinos in the Wild West.
Some Reddit users reacted warmly to the news, while others were less enthusiastic. One Redditor suggested that if crypto was to be regulated into oblivion, it should be placed on a gaming floor.
The chosen name for the casino is “Mirai,” which signifies “future” in Japanese. The project’s initial cost estimate was $3 billion or more, though this could have changed depending on its final location, which has yet to be determined.
Local officials have originally rejected the notion of a casino in the area, despite the fact that UE Resorts and Ader prefer the site to be in Manhattan. As per Bloomberg, Long Island and neighbouring counties are also being considered.
26 Capital Acquisition Corp, Ader’s blank-check firm, will combine with a Universal-owned casino resort in the Philippines.
UE Resorts intends to float its stock on the Nasdaq in the future. The proposed casino in New York is intended to be the company’s lone project in the United States.
In Conclusion
It’s not a good idea to get into the cryptocurrency world without a plan and strategy, just like any other new business. Experts warn that, with so many cryptocurrency alternatives available, some may vanish from the market in a few years, never repaying investors.
But, who knows, with excellent preparation and technique, you could be lucky enough to see your investment rise, as Bitcoin did. Or, better still, crypto will fully replace traditional money in a few years, and you will be a pioneer in this brave new world.
This is why the cryptocurrency is becoming increasingly popular.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
