Chips.gg |🎰 1000+ Slots |🎤 Live Casino |🎲 1% House Edge Dice |🏦 The Vault - page 9.

Shishir99

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Quote from: hd49728 on October 16, 2024, 09:51:54 PM

Why KYC is extremely dangerous – and useless but many times people want to use a service, they have to do KYC. Business platforms will not ask KYC on customers if they don't have to do it by pressure from governments

KYC is a mandatory thing for businesses related to finance. But when it comes to crypto business, people have some arguments. Crypto users are supposed to stay anonymous. Crypto is your own bank and helps you stay anonymous with your money; nobody knows how much money you have. But you are no longer anonymous when you do your KYC on several platforms where you keep your Bitcoin or altcoin.

This is the reason crypto users prefer KYC-free casinos. But then people are taking more risks playing on unregulated casinos where they have a chance to get scammed. The argument could be, that the license provider never helps the players to get their funds back. I agree with that.

hd49728

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Not your keys, not your coins!

Quote from: joniboini on October 16, 2024, 08:36:53 PM

I believe there is nothing without risk in this world. It's always a trade-off between what you can accept to lose and what you want to gain. Free lunch is nonexistent.

There is no free lunch and there is nothing with zero risk in the world including cryptocurrency market for investment or trading.

Bitcoin has smallest risk compares to all altcoins but it has risk too, it's wrong to say there is zero risk with Bitcoin. With anything, when black swan event occurs, things will collapse quickly and very terribly. So either investment or trading with Bitcoin, make sure to have plan B and have your stop loss order set up for your trading position and have plan B for your investment, exit as well.

Bitcoin investment theses.
Bitcoin & Intrinsic value.

Why KYC is extremely dangerous – and useless but many times people want to use a service, they have to do KYC. Business platforms will not ask KYC on customers if they don't have to do it by pressure from governments.

joniboini

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Quote from: Shishir99 on October 16, 2024, 01:40:14 AM

These types of casinos are the final destination for people who care about their privacy. But still, there are some risks. If they ever hit a big multiplier and then want to withdraw their big wins, they will have to complete the KYC or leave their winnings.

I believe there is nothing without risk in this world. It's always a trade-off between what you can accept to lose and what you want to gain. Free lunch is nonexistent.

Quote from: ryzaadit on October 16, 2024, 12:12:50 PM

We all know, everyone who are playing casino in online with cryptocurrency want the privacy without any (KYC). We doing the KYC just because is being asked or mostly people who are chasing rewards (example, like stake did forcing user KYC and giving user 50 or 250$ depends on the rank).

I'd love to see a detailed research on this. I know the value of such research is probably small but it will be interesting to read. We can run a poll on this forum if we have the time, although the result is probably biased anyway.

Quote from: Odohu on October 16, 2024, 06:18:27 AM

When you mention identity theft, I don't know how that come into play in this case or you are suggesting that people could perform KYC with the documents of others?

I believe he mainly refers to fraud when talking about why KYC is important. I can see this if we view this from the POV of the casino. But yeah, there are a lot of cases where documents get faked and a business approves a fake identity verification.

ryzaadit

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Quote from: joniboini on October 16, 2024, 12:12:57 AM

Quote from: Rruchi man on October 15, 2024, 09:00:10 AM

kYC was a big problem at one time; I believe that there were more gamblers before against it than now. More gamblers now understand why KYC is important.

Is there a survey or research about this? I'm not sure about the exact numbers, but even if the majority of people don't mind KYC I believe it's a good choice to attract a niche demographic especially when the cost to do so isn't that big.

I don't think he have the survey or number.

It's just always based of his opinion, with the signature. We all know, everyone who are playing casino in online with cryptocurrency want the privacy without any (KYC). We doing the KYC just because is being asked or mostly people who are chasing rewards (example, like stake did forcing user KYC and giving user 50 or 250$ depends on the rank).

Even he making a pools in here, comparison playing casino on KYC or without KYC. The pools without KYC are gonna to mostly win, we doing KYC just because we don't have a choice.

Odohu

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Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

Quote from: chipsgg on October 14, 2024, 03:11:48 PM

Strengthening our verification process is key to preventing fraud while respecting the privacy concerns of our community. We remain committed to enhancing the user experience and ensuring trust.

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

With the commitment that Chips.gg have towards strengthening their KYC process, it will be hard for it to be considered for fraud by criminals. and that is good for gamblers.

I have created account in the platform and I did not see anything different from the basic KYC that other casinos require. Could it be that I'm missing something? When you mention identity theft, I don't know how that come into play in this case or you are suggesting that people could perform KYC with the documents of others? Most people that don't like performing KYC are even because of the safety of their document such as it being stolen or sold by the platform where they submitted them.

Shishir99

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Quote from: Rruchi man on October 15, 2024, 09:00:10 AM

This is a big mistake and risk anytime.

There is a risk level associated with any money withdrawn from a casino because it can be coming from a source that has been flagged. Any casino not requiring any form of KYC will be a tool for criminals to launder money, which means that it will not be impossible for you to receive money from a casino that is from a flagged source.

I know there is a risk of playing in unnamed unregulated casinos. But people who care about their privacy do not really like casinos with KYC requirements. As you may know, some regulated platforms allow players to play without doing the KYC till some point. For example, if your transaction limit does not reach a thousand dollars, you are ok to play with basic KYC which does not require you to reveal your identity. These types of casinos are the final destination for people who care about their privacy. But still, there are some risks. If they ever hit a big multiplier and then want to withdraw their big wins, they will have to complete the KYC or leave their winnings.

joniboini

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Quote from: Rruchi man on October 15, 2024, 09:00:10 AM

kYC was a big problem at one time; I believe that there were more gamblers before against it than now. More gamblers now understand why KYC is important.

Is there a survey or research about this? I'm not sure about the exact numbers, but even if the majority of people don't mind KYC I believe it's a good choice to attract a niche demographic especially when the cost to do so isn't that big. I find it hard to believe that the capital to set up a KYC system that requires ID verification etc is cheaper than the alternatives I mentioned before. I think this is the attitude that Chips.gg has judging from their response so far, so all is good for me.

ryzaadit

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I always receive a reminder email from CHIPS, regarding "Weekly Stream".

Anyone in here ever watch them ? did the stream are sharing some code too or not. Like we usually watch in (Stake.com), perhaps someone who having experience watching Weekly Stream from CHIPS GG can making some description for what they did.

I only reading the part, they are sharing the prize to the viewer from Email description. But want to know from steam experience, especially by the user who are watching them during the stream.

Rruchi man

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Quote from: Shishir99 on October 15, 2024, 01:07:56 AM

Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

~

You should understand the fact that not every gamblers like platforms with KYC requirements.

kYC was a big problem at one time; I believe that there were more gamblers before against it than now. More gamblers now understand why KYC is important.

Quote from: Shishir99 on October 15, 2024, 01:07:56 AM

This is one of the reason they play on unnamed casinos.

This is a big mistake and risk anytime.

There is a risk level associated with any money withdrawn from a casino because it can be coming from a source that has been flagged. Any casino not requiring any form of KYC will be a tool for criminals to launder money, which means that it will not be impossible for you to receive money from a casino that is from a flagged source.

RockBell

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Quote from: Shishir99 on October 15, 2024, 01:07:56 AM

You should understand the fact that not every gamblers like platforms with KYC requirements. This is one of the reason they play on unnamed casinos. Let's say I do not like platforms that ask for KYC. Now, since I do not like KYC, I cannot play everywhere. Because most of the casinos requires you a KYC. This is the reason I choose some unknown casinos that does not even ask for a KYC and let everyone play and win. If I could do the KYC, I could be able to play on most reputed casino available online. So, as long as you are playing in a reputed casino, you are unlikely to be scammed. Some casinos with KYC requirement scams people as well. But, why would I play on less reputed casino if I can play on most reputed casino by doing a KYC? You will always find some people who always like to stay anonymous and do not want to KYC themself in a casino. Even if they suggest you to play on anonymous casino, I don't think it's a red flag.

They might want to keep their privacy and they won't be happy when they are exposing their data to the platform but if you should look at it kyc is good and it is not good it is good in terms that if anyone should break any of the law or even engage in the scam the person will be easily tracked that is one of the usefulness of the KYC but when it comes to gambling sites I don't think is even that necessary because it will still be very easy for them to fish any defaulter out. and this kyc of thing is one of the things that have stopped a lot of customers not to actually from visiting their site.

The thing is that whether with or without kyc there are people that will still make use of whatever platform they want to use because they don't care about their data, and playing with a casino that is reputable and already popular gives you more rest of mind to actually, and if it is about anonymity I think I also love it.

arwin100

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Jack of all trades 💯

Quote from: virasog on October 15, 2024, 02:27:05 AM

Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

Yes, this is the perception in this gambling market, that is if a casino is not asking for a KYC, then it is not trusted or may scam even if it is doing good business now. Even though we all want KYC free casinos, but we are not ready to accept the fact that any casino operates without KYC implementation.

As of now, there is no good casino that operates without KYC. Yes, you can make an account on a few casinos without KYC but eventually, they will ask for KYC at withdrawal, if not during the registration process.

You gotto gamble, you need to do KYC, simple is that.

Phase has change since before anonymity is important and gambler is avoiding KYC casino since many think that they are not safe there.

But sudden changes happen due to many scamming also hacking incidents, then also the regulation happen and people understand that somehow being compliant is important since it lower down the risk of scams since there are govern bodies regulates those casino that's why many understand that somehow KYC is important for their security.

KYC to reputable casino became a normal requirements, but somehow there are few of them still operating without this requirement but that doesn't mean they won't submit it since there are factors that those Non compliant will ask KYC especially if there's verification happen due to huge winnings or suspicious activities.

virasog

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Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

Yes, this is the perception in this gambling market, that is if a casino is not asking for a KYC, then it is not trusted or may scam even if it is doing good business now. Even though we all want KYC free casinos, but we are not ready to accept the fact that any casino operates without KYC implementation.

As of now, there is no good casino that operates without KYC. Yes, you can make an account on a few casinos without KYC but eventually, they will ask for KYC at withdrawal, if not during the registration process.

You gotto gamble, you need to do KYC, simple is that.

Shishir99

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Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

You should understand the fact that not every gamblers like platforms with KYC requirements. This is one of the reason they play on unnamed casinos. Let's say I do not like platforms that ask for KYC. Now, since I do not like KYC, I cannot play everywhere. Because most of the casinos requires you a KYC. This is the reason I choose some unknown casinos that does not even ask for a KYC and let everyone play and win. If I could do the KYC, I could be able to play on most reputed casino available online. So, as long as you are playing in a reputed casino, you are unlikely to be scammed. Some casinos with KYC requirement scams people as well. But, why would I play on less reputed casino if I can play on most reputed casino by doing a KYC? You will always find some people who always like to stay anonymous and do not want to KYC themself in a casino. Even if they suggest you to play on anonymous casino, I don't think it's a red flag.

DaNNy001

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Quote from: Rruchi man on October 14, 2024, 06:59:31 PM

Quote from: chipsgg on October 14, 2024, 03:11:48 PM

Strengthening our verification process is key to preventing fraud while respecting the privacy concerns of our community. We remain committed to enhancing the user experience and ensuring trust.

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

But a whole lot of gamblers out there would have a different opinion about this said issue as I have read in this same community many times that games prefer a non KYC verification casino just for the purpose that they fear that the personal information would be confiscated by either the casino or sometimes even have the taught that if the casino turns out to be fraudulent their details might be sold to the government.

But that mentality I assume have changed to a very large margin as every gambler is now after a service that would protect and safeguard their account from these said fraudulent attack like identify theft and so many more.

hd49728

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Quote from: Shishir99 on October 12, 2024, 07:47:19 AM

Quote from: hd49728 on October 12, 2024, 04:58:25 AM

Reminder: do not keep your money in online accounts

Unfortunately, these warnings does not work these days especially when new people coming into crypto world everyday. The number of scam is increasing everyday. Even veteran members are getting tricked by the scammers.

Warnings are available to help them, both veteran and newbie members. Hardest things done by volunteers and people only need to read, learn and understand these warnings for their own benefits.

If they ignore warnings that are vital for their fund security and safety, they're 100% responsible for it, and no one else can help them. If they want to suicide with their own money, they can not blame their bad action on anyone else.

Quote from: blue Snow on October 13, 2024, 12:10:02 AM

This is a good breakthrough for gambling sites. I just heard about this idea, because so far all gamblers in the community are very confused about this problem (KYC).

It is good initiative but it is not main method for KYC on most of platforms. It is an extra method for users to provide proof of ownership and identity, if they fail with other basic methods.

Many people who are in this market for years, but they don't know about non custodial wallets and don't know how to sign a Bitcoin or cryptocurrency message through private key, but if they want to be self custodian, they can learn and from it they will be able to sign a message through a private key.

Rruchi man

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Quote from: chipsgg on October 14, 2024, 03:11:48 PM

Strengthening our verification process is key to preventing fraud while respecting the privacy concerns of our community. We remain committed to enhancing the user experience and ensuring trust.

Due to the increased cases of fraud and identity theft, many gamblers understand why there is a KYC requirement in most casinos and why some casinos, serious about their business, are strengthening their KYC verification process. TBH, I will even be reluctant to gamble and refer any other gambler to gamble in a casino that I find not demanding any form of KYC verification. It is like a red flag.

With the commitment that Chips.gg have towards strengthening their KYC process, it will be hard for it to be considered for fraud by criminals. and that is good for gamblers.

chipsgg

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The Future Of Cryptocurrency Gambling

Quote from: avp2306 on October 13, 2024, 04:46:38 AM

Quote from: chipsgg on October 11, 2024, 07:29:08 PM

Quote from: joniboini on October 11, 2024, 07:26:12 PM

Quote from: chipsgg on October 11, 2024, 07:02:53 PM

Without such documents, anyone could falsely claim ownership, which is why casinos are careful with these procedures. It's important for platforms to have thorough verification processes to prevent account theft, especially when there's a balance or valuable information involved.

Is there any plan to explore other options for KYC, such as a signed message from a wallet address or something similar? Especially when people can fake those documents. While I think it takes some knowledge to sign a message, I think it can be a decent alternative compared to giving personal details, especially for those who value privacy a lot. Just like how members of this forum post their signed messages as a way to confirm whether they still control the account or not.

Yes, if the player is able to show proof he/she controls the deposit or withdraw address used to access the account it would be a valid alternative.

Nice to hear this it give confidence to people that chips.gg would not make the life of compromised person hard. Indeed a proof of address ownership is indeed enough proof to validate their claims.

So far didn't see any casino doing this and its good that somehow this casino respect privacy.

But put additional requirements to strengthen up their claims since we can't deny the fact that there are criminals which is good to create fake proof. But further more this is good development which provably people like to have since there are lots of gamblers here really don't want to provide KYC for personal safety.

At Chips.gg, we value the privacy and security of our users while ensuring a fair and secure platform. We understand that KYC can be sensitive for many, so we are continuously exploring ways to make the process as efficient and privacy-focused as possible. We appreciate the feedback regarding alternative verification methods like proof of address and the potential use of wallet-signed messages. Strengthening our verification process is key to preventing fraud while respecting the privacy concerns of our community. We remain committed to enhancing the user experience and ensuring trust.

Shishir99

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Quote from: khaled0111 on October 12, 2024, 06:31:19 PM

For example, if the current location of the user isn’t the same as the one he used to connect from, the casino should ask for more evidence than a signed message before recovering the account. just my opinion, though.

I cannot deny what you have said. The the chance is very low that if a hacker or someone steal someone's bitcoin wallet, their main focus would be stealing your funds from your Bitcoin wallet. They don't really know if you have used this wallet address to make a deposit to your chips.gg account or you have used this wallet to withdraw your funds. The only possibility is, your closed ones may know which wallet you have used o chips.gg. Most not custodial wallets provide multiple bitcoin addresses and if you used most of your addresses, there is a less chance the hacker knows which one you used to make a deposit or withdrawal.

avp2306

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Quote from: chipsgg on October 11, 2024, 07:29:08 PM

Quote from: joniboini on October 11, 2024, 07:26:12 PM

Quote from: chipsgg on October 11, 2024, 07:02:53 PM

Without such documents, anyone could falsely claim ownership, which is why casinos are careful with these procedures. It's important for platforms to have thorough verification processes to prevent account theft, especially when there's a balance or valuable information involved.

Is there any plan to explore other options for KYC, such as a signed message from a wallet address or something similar? Especially when people can fake those documents. While I think it takes some knowledge to sign a message, I think it can be a decent alternative compared to giving personal details, especially for those who value privacy a lot. Just like how members of this forum post their signed messages as a way to confirm whether they still control the account or not.

Yes, if the player is able to show proof he/she controls the deposit or withdraw address used to access the account it would be a valid alternative.

Nice to hear this it give confidence to people that chips.gg would not make the life of compromised person hard. Indeed a proof of address ownership is indeed enough proof to validate their claims.

So far didn't see any casino doing this and its good that somehow this casino respect privacy.

But put additional requirements to strengthen up their claims since we can't deny the fact that there are criminals which is good to create fake proof. But further more this is good development which provably people like to have since there are lots of gamblers here really don't want to provide KYC for personal safety.

blue Snow

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Quote from: chipsgg on October 11, 2024, 07:29:08 PM

Yes, if the player is able to show proof he/she controls the deposit or withdraw address used to access the account it would be a valid alternative.

This is a good breakthrough for gambling sites. I just heard about this idea, because so far all gamblers in the community are very confused about this problem (KYC).

I just watched the movie "The Tourist" last week ago. Your statement reminds me of this movie. Alexandre Pierce (Jhonny Deep) was in plastic Surgery and changed his Data ID. No one knows if he is Alexandre Pierce (the rich man) when changed his face and Data ID to Mark Tupalo as math teacher. But, at the end of the movie, he tells to his girlfriend (Angelina Jolie) if he is true Alexandre Pierce, but his girlfriend still doesn't believe it, and after Mark Tupalo shows the key (PIN) to enter the safe box, then she does believe.

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