Topic: Underaged gambling with bitcoin? (Read 977 times)
Many games companies refuse to buy the in-game money back from clients and many even try to prevent players from exchanging game money (and other items) for fiat with each other precisely because they wanna avoid the legal repercussions of being seen as acting like casinos.
Well since bitcoins isn't really considered a 'legal currency' yet- its similar to playing a video game of sorts. The "illegal" part is when its transferred into "real" money.
I suppose the loophole would be that bitcoins can be considered like an 'in-game currency' which just so happens to have real money worth.
I suppose the loophole would be that bitcoins can be considered like an 'in-game currency' which just so happens to have real money worth.
Nope, it's still illegal because the Bitcoins have trade value and you knowingly let someone gamble them.
Well since bitcoins isn't really considered a 'legal currency' yet- its similar to playing a video game of sorts. The "illegal" part is when its transferred into "real" money.
I suppose the loophole would be that bitcoins can be considered like an 'in-game currency' which just so happens to have real money worth.
I suppose the loophole would be that bitcoins can be considered like an 'in-game currency' which just so happens to have real money worth.
So I guess it's illegal for kids to bet on Satoshidice?
Yes it's in their TOS
So I guess it's illegal for kids to bet on Satoshidice?
I believe the kids dont break any law by sending Bitcoin to Satoshidice address, nor you do.
Everything you do was, is, or will be illegal, in any given nation. The question is, do you care?
So I guess it's illegal for kids to bet on Satoshidice?
Illegal. 
If you gamble with something you can cash out with then its going to be illegal.
It's still illegal to do underage gambling no matter what kind of funds you use to deposit.
Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?
Poker chips used in casino's aren't legal tender BTW so "legal tender" has no real bearing, I don't think a single gambling statute anywhere would be so restrictive to define "gambling" as only involving legal tender. As for legality there is no universal global all people covered law, so it depends on what law and where. Most gambling related statutes are wording to cover "for value". Bitcoin has value, gambling with Bitcoin would likely be covered.
Look at it another way if casinos are prohibited in your town do you think if you opened a casino which only exchanged chips for gold would be accepted (just happens to be next door to a gold dealer who both buys and sells bullion).
Sounds legit. By the way, what is Tangible Cryptography?
Bitcoin is Tangible Cryptography.
Yes it is. Was asking about the company but just did some reasearch. Any future investment opportunities if/when they get FastCash4Bitcoins back and running?
Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?
Poker chips used in casino's aren't legal tender BTW so "legal tender" has no real bearing, I don't think a single gambling statute anywhere would be so restrictive to define "gambling" as only involving legal tender. As for legality there is no universal global all people covered law, so it depends on what law and where. Most gambling related statutes are wording to cover "for value". Bitcoin has value, gambling with Bitcoin would likely be covered.
Look at it another way if casinos are prohibited in your town do you think if you opened a casino which only exchanged chips for gold would be accepted (just happens to be next door to a gold dealer who both buys and sells bullion).
Sounds legit. By the way, what is Tangible Cryptography?
Bitcoin is Tangible Cryptography.
Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?
Poker chips used in casino's aren't legal tender BTW so "legal tender" has no real bearing, I don't think a single gambling statute anywhere would be so restrictive to define "gambling" as only involving legal tender. As for legality there is no universal global all people covered law, so it depends on what law and where. Most gambling related statutes are wording to cover "for value". Bitcoin has value, gambling with Bitcoin would likely be covered.
Look at it another way if casinos are prohibited in your town do you think if you opened a casino which only exchanged chips for gold would be accepted (just happens to be next door to a gold dealer who both buys and sells bullion).
Sounds legit. By the way, what is Tangible Cryptography?
It's illegal because every site needs a casino license. Don't even try to open a legal betting site because you won't get a casino license.
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Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?
Poker chips used in casino's aren't legal tender BTW so "legal tender" has no real bearing, I don't think a single gambling statute anywhere would be so restrictive to define "gambling" as only involving legal tender. As for legality there is no universal global all people covered law, so it depends on what law and where. Most gambling related statutes are wording to cover "for value". Bitcoin has value, gambling with Bitcoin would likely be covered.
Look at it another way if casinos are prohibited in your town do you think if you opened a casino which only exchanged chips for gold would be accepted (just happens to be next door to a gold dealer who both buys and sells bullion).
Putting aside the illegality for my post, I like to think people tend to understand the risks associated with things they want to do. But then, I'm probably too optimistic. As long as they understand they have to pay back what they lose, I don't see why it should be a problem. Age of majority doesn't necessarily mean age of maturity.
Everything is illegal in the united states.
My suspicion is it would be considered illegal in the United States.
I never thought about this but this is an interesting question. I'd say it's in a "grey" zone.
Just wondering, would underaged gambling with bitcoin be illegal? It would be the same concept as using regular play chips, except using bitcoins, and both are not considered "legal" tender. Would this fly?
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