Like all things, it will be regulated to death in some countries and not in others. Totalitarian countries, like the United States, will be the one of the first to kill it. Countries that are truly free like New Zealand and the Netherlands will allow it as long as their people want it.
Remember, everything is legal or allowed somewhere. Recently I had a friend go to Mexico on a sex tour. When he told me about it, I couldn’t believe it. I had to look it up. Evidently, right next door to prudish America, prostitution is legal, regulated and cheap. They have bus tours that take you from one whore house to another, live sex shows, beastality shows, BDSM shows and all kinds of creepy shit. Just because something is illegal in your area doesn’t mean you can’t do it somewhere.
Topic: How long until BTC gambling sites are shut down? (Read 3834 times)
It will take a long time to shut it down, because it is very uneasy to remove gambling in our economy and what more these sites that produces very big money and it cant be shut down by a single move, it will take too long time
It will take less than it will take you to learn English. There is no "uneasy" , the word is hard.
And the shutdown can be done pretty simple, thee website are just domain name, block them at ISP level and it's done.
BTC gambling websites are dust compared to others, the sums are so small in comparison nobody is really bothered by them.
Once they gain exposure, that's when the hard life begins.
we have enjoyed a really long period with little to no regulation. those times are starting to pass. plan accordingly, this is a risk in some markets.
It's like that with everything.
In the past you could go and hunt in the forest and cut trees, now you need a license.
The pioneers could claim whatever land they wanted and mine or exploit it how they want, now you need licences.
Same for when the internet was born, it was free to do almost everything.
Now it is time for rules regarding Bitcoin. And it won't be pretty for many
COINS gambling sites is also an application of the currency, there is no real-name authentication COINS address, so the currency referred to as a lot of money laundering, when so COINS address can real-name certification, casino may be closed.
They will be completely unnoticed until bitcoin becomes a mainstream currency but for now they are freely to operate or when the time comes i think they'll move to deepweb and darknet and continue their business there or chose to accept regulations and become a legitimate gambling site.
Hey folks,
As we can all see, the BTC gambling sector seems to be doing quite well. For the time being we seem to be operating within a grey zone as crypto currencies are yet to be categorized in the same way as cash.
How long do you think it will be before crypto gambling sites are forced to operate through the same restrictions?
As we can all see, the BTC gambling sector seems to be doing quite well. For the time being we seem to be operating within a grey zone as crypto currencies are yet to be categorized in the same way as cash.
How long do you think it will be before crypto gambling sites are forced to operate through the same restrictions?
this is on the immediate horizon, in my opinion. most of these casinos are operating in clear violation of aml/kyc regulation. in the way that they have cracked down on ICOs for this, it will be much easier to target casinos when they decide to do so.
and they are truly incentivized to follow through with this, because of the nature of the infraction, they can seize all of the casinos funds without notice, both fiat and crypto. while this seems bad mostly for the casino, imagine if your money is in one of the wallets when it gets shut down
we have enjoyed a really long period with little to no regulation. those times are starting to pass. plan accordingly, this is a risk in some markets.
Obviously the gambling site is not legitimate, it is simply using Bitcoin as a tool for gambling, which obviously needs to be supervised. These sites may be registered in small islands or the like and want to avoid regulation.
It will be good if you will e there because the bitcoin is going to increase more and more I hope the bitcoin will buy me a house and the building as the future of the bitcoin user is going to rock the world I have the money now and I will invest the money in the bitcoin, I am sure the bitcoin future will be high if more people will be in the bitcoin and the bitcoin will buy me all the people.
Before the inception of bitcoin gambling have been in existence. Bitcoin have now make gambling easy and accessible globally. I do not think there is any time gambling site that are using bitcoin will stop using bitcoin.
It will take a long time to shut it down, because it is very uneasy to remove gambling in our economy and what more these sites that produces very big money and it cant be shut down by a single move, it will take too long time
I don't think that can happen, because bitcoin isn't a illegal thing.
Maybe the government / financial institute can add a tax for them, but close them definitely not.
I remember when i won 0.8 BTC at crypto casino, unfortunately the price of BTC was 400-500$
Maybe the government / financial institute can add a tax for them, but close them definitely not.
I remember when i won 0.8 BTC at crypto casino, unfortunately the price of BTC was 400-500$
Obviously the gambling site is not legitimate, it is simply using Bitcoin as a tool for gambling, which obviously needs to be supervised. These sites may be registered in small islands or the like and want to avoid regulation.
I actually think it is only a matter of time before conventional gambling sites join on the bangwagon, when legislation is a little more tied down. I expect William Hill et al, will be accepting bitcoin within 2014. Anyone agree?
I can definitely imagine some currently operating gambling websites expanding in order to accept Bitcoin. If anything, I think this would even help Bitcoin in becoming more mainstream. Win-win.
Obviously some governments won't like it and will throw a fit, but it'll be interesting to see what happens in the coming year.
They'll just move to alt coins or some other alternative currency.
I fail to see how using an altcoin is any protection.
I actually think it is only a matter of time before conventional gambling sites join on the bangwagon, when legislation is a little more tied down. I expect William Hill et al, will be accepting bitcoin within 2014. Anyone agree?
they will be there for ever. the world is a big place. and the world is not US.
Converting to tor would be a huge hit to cryptocurrency gambling. Some of the people are not going to want to go to the added trouble, and others are not going to like the illegality of it. I do not think that BTC gambling sites will be hit for another few years though, it will take some of the mainstream online poker fans getting involved before that happens.
I wouldn't think that is necessary. Aside from domains getting seized they usually just go after the money.
As long as exchanges are operating there will be bitcoin gambling.
global moderator
Activity: 3990
Merit: 2713
Join the world-leading crypto sportsbook NOW!
They don't need to move to a tor/.onion-only site, just move their hosting/servers to a country that is fine with gambling.
Yeah ask Full Tilt Poker how well that strategy worked.
So is online gambling illegal in the states? I had no idea.
I don't think it matters the sites let you gamble in BTC. They will probably start getting their domains seized and stuff soon.
If the domains are seized they'll just either move to one outside US control/influence or to TOR. It is too bad too, the US is frittering away its lead in many areas. Although after the NSA scandal, perhaps that is a positive for the world if not the US
yeah, the U.S. doesn't completely control every country in the world, though it sometimes seems like that. they'd either move their sites to the darkweb or go to some safehaven country.
Usually , those countries that don't take advices from the US , are worst that the us.
As an example , everybody was saying that the piratebay should move to the .ru domains.
This is funny , because the russians were the first ones to actually try to kill a torrent website , by seizing the rutracker domain.
So , I would not think that Iran would be a safe heaven for gambling websites.
Bitcoin gambling would never survive on the darkweb. Sure, maybe there would be a site or two, but it wouldn't be thriving by any means of the imagination.
There are plenty of sites that accept USD and US players that seem to be doing just fine. The idea of targeting sites accepting something that may or may not even be considered a currency before those sites is just plain silly.
There are plenty of sites that accept USD and US players that seem to be doing just fine. The idea of targeting sites accepting something that may or may not even be considered a currency before those sites is just plain silly.
Depends on what country they are located in.
I think it will be just like what happened with online sports books and poker sites. Eventually there will be a crackdown and people will get arrested/shut down. The smart/lucky ones will already be in a safe country where they cant be touched and will continue to operate.
I've always been fasicnated with the story of Calvin Ayre. The gambling site he founded has been around for almost 20 years now and he is a self made billionaire despite all the arrests and shutdowns over the last 2 decades with online gambling.
I think it will be just like what happened with online sports books and poker sites. Eventually there will be a crackdown and people will get arrested/shut down. The smart/lucky ones will already be in a safe country where they cant be touched and will continue to operate.
I've always been fasicnated with the story of Calvin Ayre. The gambling site he founded has been around for almost 20 years now and he is a self made billionaire despite all the arrests and shutdowns over the last 2 decades with online gambling.
Worst thing that happen to those sites is to force them to comply with existing regulation. Why shutting them down already?
I think some sites like satoshidice already stopped accepting players from the US.
I think some sites like satoshidice already stopped accepting players from the US.
Jump to: