As I understand it, the bitdice is a competitor to FUN, what are the advantages of the FUN, the project is very interesting, although it was released long ago
By the way, is there Russian sipping? Please send a link, please
Also would like to hear the answer for this question. There appear a lot of competitors in this sphere, bitdice, vdice, daocasino etc. What are the main advantages of FunFair. And why the heck the price for the token is so low?
Bitdice has no legal counsel to speak of. They are listing a dividend based token that fails the howey test, they will likely lose any gambling license and fall afoul of securities law if you read the recent SEC update, vdice is slow and boring. Its a spreadsheet that takes minutes to confirm with expensive gas costs. Dao has no underlying tech to compete with fate channels.
@Bitcoinorama What's your position at FunFair? Assuming you work for them? No ill intentions just looking to place what you said in clearer context. (Bolded & underlined part mine.) Thanks!
I had Bitdice rep approach me in the Telegram chat and he had no idea about Howey, that a dividend paying token would fall afoul of securities law (Goolgel SEC Vs Howey - its the standard test for securities - US has been vague but they will always refer to that and thats what icos are being recommended to ensure they meet its mentioned in their latest update and why many icos are refusing to accept us citizens). If thats the case (and if they do a token raise in general) they will likely not be granted a gaming license or retain any they might have. Bitdice is not a developer but a third party casino operator which needs a gaming license to legally operate.
https://bitcoinmagazine.com/articles/sec-weighs-ico-tokens-securities-ether-still-labeled-currency/Under the Howey Test, a transaction is a security (or investment contract) if:
It is an investment of money
There is an expectation of profits from the investment
The investment of money is in a common enterprise
Any profit comes from the efforts of a promoter or third party
Bitdice is offering an investment and specifically offers an investment in a common enterprise gives an expectation of profits from an investment.