Topic: Bitcoin Gambling Expansion? (Read 3515 times)

The last thing we need is more gambling, all it does is prey upon desperate people or those that don't understand probability.  It is a zero sum game doesn't add anything to society.

Despite the significant growth of the online gambling industry, several on-going issues have made some countries (the US most prominently) reluctant to legalize online gambling. Additionally, a large number of people are deterred from trying out betting games due to problems with trust, security and reliability.

Also, problems such as account restrictions due to location, withheld bonuses, withdrawal fees and restrictions among other tend to deter people from even trying out online betting.

Our Team at Faireum aims to get rid of the restrictions placed upon the online betting community, and along with that, all the insecurities plaguing the minds of potential clients.

By creating a new blockchain and a set of protocols with custom features to meet Online Gambling requirements, Faireum will introduce a platform that is trustful, borderless, secure, and fast for blockchain-powered online gambling, therefore:

-Our Solution Reducing operational costs of online gambling therefore providing higher payouts

-Reducing the risk of fraud Reducing the cost of user accounts and money management for online casino operators

-Creating an open ecosystem of provably fair interoperable online casinos

-Providing third parties with trustful and transparent services to fit development under Faireum protocols

-Providing an official gambling platform that is based on the Faireum network for fully transparent betting and charging

No, this is a very valuable discussion muchly on topic and so forth. Let us continue it indefinitely and then act as if THAT makes us important and gives our verbose opinionation weight. Not in any case having made "a website", as if that has anything to do with what MPEx is.

for fucks sake. i now understand where you are coming from. since you created a website or have some
relationship with someone who created a website that has something to do with bitcoin.. you are better then
those who have not. got it. you are a bitcoin expert/god/high roller/old schooler/whatever.

i should have known better to respond back to you. feel free to set me on ignore.

It's a statement, I showed its source, that's what it is. The source of course happens to be somebody in BTC. That you personally for your own existent or inexistent BTC agree or disagree with what that somebody says is entirely your own private personal problem. But you're still a nobody, and simply the act of nobody disagreeing with somebody doesn't make the nobody into a somebody too. It's not how it works, even if it's how plenty of nobodies want it to work.

Opinions based on nothing are not worth sharing. Think about that for a second, if you can take your eyes off "my bottom line" for that long. I imagine you mean my ass, right?

Take your claim for example in the post above. That bitcoins value.. half of it is due to SD. You really
believe that? You expect others to believe that? That somehow you managed to get SD onto your exchange
all of a sudden makes your opinion god like?

I realize you make some good posts. Intelligent posts. I am not calling you an idiot. But to start going back
and forth with you on this forum is pointless. I have an opinion. I gave it. I should know better to respond back
to you on topics that are too close to your bottom line.

Everyone, eh? What's with this everyone bullshit people run and hide behind? What's everyone ever done for you?

But yeah, it's all in Meni Rosenfeld's vanity thread.

"Gambling is not criminal activity. Being a US citizen is criminal activity."

How can one hope to debate this with you when you have your own version of reality?

"mircea_popescu
 Fuck that shit. The US is a rogue state. Americans should just be executed on sight."

Uh, yea sure.

"The guy does nothing but knows better. It's a sickness."

I know people have gotten into huge arguments with you so I will not go there.
Everyone here already knows how you roll.

That's fine. BTC doesn't do bodycounts either, and much unlike the various people making up the US Gov't BTC doesn't actually have bodies, either.


Gambling is not criminal activity. Being a US citizen is criminal activity.

Forget the other way around, it's high time for the US to start spending their own dime to educate the world about how they're not really Nazi Germany v2.0.



The guy does nothing but knows better. It's a sickness.

Don't forget about the impact velocity has on prices as well.  Even if gamblers keep a single BTC in "circulation" for 5mins at a time between fiat purchase to fiat sell but there are 20million people doing it at a time this will cause prices to go up.

Correct me if I am wrong but the way SD is designed one has to have a large pool of btc to make sure you do  not
go broke from an amazing lucky streak by users. So sure.. one would want to save a large pool of btc for that occasion.
Is that most of the btc you are referring to?

Anyway.. my point was that gambling sites as a whole do not just collect btc and put them in long term storage.
They just recycle most of them for currency and will not be a huge factor in raising the price of bitcoin long term.
To expect every gambling site operator going forward to be a bitcoin evangelist is highly unlikely and they will
want the "finer things in life" if they succeed. That means selling bitcoins.

Online gambling is not illegal in the US. The Unlawful Internet Gambling Enforcement Act of 2006 outlawed the funding of online gambling sites.

I specifically didn't say that. What I said was that I created the site in order to get bitcoins. gl w/ the bridge.

No you should not believe that. Of course some profit is sold for fiat currency. What's your point? The important thing here is that some profit is NOT sold for fiat. That's is the phenomenon you should ponder about for a while...

So i am to believe every bit of bitcoin profit.. None was sold to get a countries currency? Really? Pfft. I have a bridge to sell. Brb.

That is why I created a bitcoin gambling site. So lol away at reality too I guess.

 You might find that some people actually believe in Bitcoin as a superior asset to paper.

I've found that most Bitcoiners are wonderful, inspiring people. It would be silly though to expect that no scumbags would exist within this movement. Fortunately, they get weeded out over time, and the reputations of the legitimate people and businesses establish themselves. This process takes time.

Online gambling isn't illegal in many parts of the world. As far as I know that's primarily a USA and China thing.

SatoshiDICE presumably.