Leetcoin launches Bitcoin support for League of Legends

n3go·Sep 26, 2014·3 votes·1,201 views

Leetcoin – the first service that allows gamers to compete for each other’s bitcoin – is proud to announce support for League of Legends™, the world’s most popular video game with 67 million monthly users.

“Our team is paving the way for the next generation of competitive gaming,” said Leetcoin’s Founder and CEO, Kingsley Edwards. “We are enabling a huge playerbase to play their favorite game against each other for bitcoin.”

Competitive online gaming has been exclusively reserved for the elite few, with some tournaments awarding over $10 million to the top tier players. But with Leetcoin, millions of gamers will now be able to compete alongside the pros for bitcoin. Players choose their competition, and the stakes, with unlimited earning potential.

Bitcoin technology is the perfect partner for online gaming. Inherent security and fast, frictionless transfers of any amount make it the obvious choice for a gaming currency. Skill and talent are valuable in the real world, but how valuable are these assets in the virtual world? Will online gaming become a more prominent and profitable profession?

“We want players to have the option to make the game more interesting,” said Carson Knuth, Co-Founder of Leetcoin. “Every time you put money down on a match, whether it’s a penny or thousands of dollars, you become more invested in the gameplay. Everything becomes more engaging and enjoyable.”

4 Comments

Deep Terror NamiSep 26, 20141 votes

The amount of skill it takes to make it sound like you can't lose money is admirable. Don't get me wrong, not saying this is a scam or bad investment; everybody trying to sell a product wants to sound that way.

kevinthrSep 27, 20141 votes

You can absolutely lose money. We offer players the ability to put money on the table—for instance, if two clans wanted to have a scrim with money on the line. The difference is that your lost money doesn't go to us…it goes to your opponent.

The value here is in the automation. Imagine something like a fully automated weekly, monthly, or yearly tournament, where players buy into the tournament, and then the winners are automatically paid out at the end of the tournament ladder. Stuff like that will be possible.

Baitsa DasutoSep 27, 20141 votes

The point is, the money will go through your hands first, even if you really don't make a penny as you claim. Forgive me for sounding suspicious, but I don't know you, and I can well imagine a scenario where somebody making such a site would wait for a while until he's gathered a large number of people - so there's several pools with large amounts of money about at once - and then vanish along without a trace, along with the money. Again, I don't want to accuse you of being a scammer, it's just the first thing that popped into my head, as I'm a natural sceptic.

Another thing I find suspicious is the way you try to make it sound like professional advertising, including the somewhat disturbing wording we're used from advertising. I'm reffering to the following; you write: "Leetcoin – the first service that allows gamers to compete for each other’s bitcoin – is proud to announce support for League of Legends™.", and when I look at your page it's very clear that LOL is the only game you support (at the moment), while your advertisement makes it seem as if you're already established as a trustworthy provider of man-in-the-middle-money-managering.

Furthermore, your accounts are level 5 and 6, respectively, the bare minimum you would need in order to post on the forums.

To me, all of this sounds fishy and suspicious. If I'm dead wrong, allow me to appologize in advance.