What will be the next big industry move? - page 34.

TinaK

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Quote from: retreat on January 19, 2022, 01:29:32 PM

Quote from: SirLancelot on January 18, 2022, 01:10:01 PM

Quote from: Boristhecat on January 18, 2022, 11:02:40 AM

as far as I understand, they succeed very poorly, since it is easy to “pressure” an organization, but it is difficult to “pressure” a large number of people.

Yeah, the next big progress of gambling industry might be coming out from governments' side in terms of regulations. As long as people are preferring to have fiats as one of their payment options then casinos will go for license related things which again lead to get approval from governments; when gamblers stick within cryptos for their gambling, then casinos will be able to operate without need of government's nod which will eliminate the possibilities of government's intervention into gambling industry.

the government will definitely try to intervene in whatever falls within their jurisdiction especially fiat or crypto based gambling businesses located within their country. It's true that regulation from the government might be the next big step for the gambling business, especially since the government likes tax money from businesses that make a lot of money.

That is possible to happen as we can see that most industries that have to generate a big profit can be eligible to pay taxes and that taxes could be the source of the economy to boost the growth on it. So implementing tax and in order for the gambler to pay this, KYC is a must.
However, there are a lot of innovations aside from this and I agree with the metaverse that could be upgraded more also there are a lot of games that should developer paid attention to develop, from the traditional to the VR world could be possible.

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Quote from: Congyang on January 19, 2022, 04:11:01 PM

as long as there are no rules that oblige to buy CBDC, it seems that coins like this will only be decoration I think because as you said the risk is quite high compared to storing funds in volatile cryptocurrencies.

So far, we are still confused with the exact mechanism of CBDC by each country. And we even still don't really know whether the CBDC will be approximately required to be used in certain activities. or will it be available to be used as one of the methods of gambling payment?
Let's see what will be going on later.

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Quote from: coupable on January 18, 2022, 05:13:05 PM

Quote from: blockman on January 18, 2022, 01:52:15 PM

Accepting CBDC is just going to be another currency that they'll accept if their customers are comfortable of using it.
I don't see a reason why adopting it would kill the other supported and accepted cryptos for such casinos. It's better to have a lot of choices to become flexible and that's why I don't see it the reason for killing those currently accepted ones.

It's better to have a lot of choices but unfortunately it's not always possible especially with platforms who are forced to apply identity verification for its customers. Also it's a better option than supporting local currencies then convert it to pairs accepted by the platforms to place bets.
The negative side is that it's a centralized currency and can be frozen at anytime whether by its creators or by the platform itself .

Yes, that's the cons of it. They can freeze the funds at any time that they wishes because they've done it as a centralized stable coins. That's what CBDCs are.
The good thing is that just as another additional choice because we all make choices and even it's not that good for the view of many. Some of us are thinking that they're cool and good to use.
And that's why if ever there's a casino that would accept it, for sure there will be as it could be an advantage for them, then that's going to give them vast choices for stable coins.

Congyang

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Quote from: madnessteat on January 19, 2022, 03:58:04 PM

Quote from: Congyang on January 19, 2022, 02:29:24 PM

Actually, if you look at CBDC it is FIAT Currency which has been updated to the blockchain version in my opinion and talking about taxes, it doesn't really matter if it is fiat because CBDC is also only a transfer from FIAT to the blockchain where the system is still centralized and centralized.
On the other hand, as you said in this case, when there is a CBDC, of course, the government will benefit, but when they experience a problem, of course, the citizens will suffer the consequences and they will just let go of their responsibilities.

If a person knows how to use cryptocurrencies, he will not be interested in using CBDC because he understands that the risks of holding funds in the CBDC is much higher than when storing funds in volatile cryptocurrencies. Therefore, most likely, the use of CBDC will be compulsory and deprive organizations and people to conduct shady activities tax-free. Many governments are moving to get rid of cash that facilitates such activities.

as long as there are no rules that oblige to buy CBDC, it seems that coins like this will only be decoration I think because as you said the risk is quite high compared to storing funds in volatile cryptocurrencies.
Of course from here it can also be seen because Crypto's advantages are still very far compared to CBDC. and things like this will not be very successful if the government still makes policies like this in the end they will still be the last choice

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Quote from: Congyang on January 19, 2022, 02:29:24 PM

Actually, if you look at CBDC it is FIAT Currency which has been updated to the blockchain version in my opinion and talking about taxes, it doesn't really matter if it is fiat because CBDC is also only a transfer from FIAT to the blockchain where the system is still centralized and centralized.
On the other hand, as you said in this case, when there is a CBDC, of course, the government will benefit, but when they experience a problem, of course, the citizens will suffer the consequences and they will just let go of their responsibilities.

If a person knows how to use cryptocurrencies, he will not be interested in using CBDC because he understands that the risks of holding funds in the CBDC is much higher than when storing funds in volatile cryptocurrencies. Therefore, most likely, the use of CBDC will be compulsory and deprive organizations and people to conduct shady activities tax-free. Many governments are moving to get rid of cash that facilitates such activities.

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Quote from: retreat on January 19, 2022, 01:29:32 PM

Quote from: SirLancelot on January 18, 2022, 01:10:01 PM

Quote from: Boristhecat on January 18, 2022, 11:02:40 AM

as far as I understand, they succeed very poorly, since it is easy to “pressure” an organization, but it is difficult to “pressure” a large number of people.

Yeah, the next big progress of gambling industry might be coming out from governments' side in terms of regulations. As long as people are preferring to have fiats as one of their payment options then casinos will go for license related things which again lead to get approval from governments; when gamblers stick within cryptos for their gambling, then casinos will be able to operate without need of government's nod which will eliminate the possibilities of government's intervention into gambling industry.

the government will definitely try to intervene in whatever falls within their jurisdiction especially fiat or crypto based gambling businesses located within their country. It's true that regulation from the government might be the next big step for the gambling business, especially since the government likes tax money from businesses that make a lot of money.

Each country does have their own jurisdiction and rules when it comes into their government which means whatever things that would possibly be integrated then it would really be ending up always with some approval or permission for it to be possibly to be applied.We are heading towards development and changes which it wont really be surprising that there would be
adoption or rejection but I agree on what you had said that government does really like taxes and revenue which they are always been aiming off
in the first place.

Congyang

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Quote from: madnessteat on January 18, 2022, 02:17:46 PM

Quote from: Congyang on January 18, 2022, 02:00:33 PM

^

Well, why? For a person who pays all taxes and does not engage in anything illegal, the introduction of CBDC will give some advantage over fiat currency, but for people who are trying to get away from the control of the state it will be more of a negative innovation. Unfortunately, ordinary people can not have any influence on the adoption of CBDC by their state.

I think this is the next step, which is designed to make the economy more transparent, and unfortunately, this transparency will affect ordinary citizens, but not the state itself, as the management will be carried out by it.

Actually, if you look at CBDC it is FIAT Currency which has been updated to the blockchain version in my opinion and talking about taxes, it doesn't really matter if it is fiat because CBDC is also only a transfer from FIAT to the blockchain where the system is still centralized and centralized.
On the other hand, as you said in this case, when there is a CBDC, of course, the government will benefit, but when they experience a problem, of course, the citizens will suffer the consequences and they will just let go of their responsibilities.

retreat

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Quote from: SirLancelot on January 18, 2022, 01:10:01 PM

Quote from: Boristhecat on January 18, 2022, 11:02:40 AM

as far as I understand, they succeed very poorly, since it is easy to “pressure” an organization, but it is difficult to “pressure” a large number of people.

Yeah, the next big progress of gambling industry might be coming out from governments' side in terms of regulations. As long as people are preferring to have fiats as one of their payment options then casinos will go for license related things which again lead to get approval from governments; when gamblers stick within cryptos for their gambling, then casinos will be able to operate without need of government's nod which will eliminate the possibilities of government's intervention into gambling industry.

the government will definitely try to intervene in whatever falls within their jurisdiction especially fiat or crypto based gambling businesses located within their country. It's true that regulation from the government might be the next big step for the gambling business, especially since the government likes tax money from businesses that make a lot of money.

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Quote from: Smartprofit on January 19, 2022, 09:32:50 AM

Quote from: CDC AP on January 17, 2022, 09:57:14 AM

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

Web 3.0 sphere. may also be subject to regulatory restrictions.

Creators of Web 3.0. they are living people. They may be fined. They can be repressed. They can be put in jail. web 3.0. it is a direct competitor to the modern financial system. Currently, online casinos can plan to work in web 3.0. without KYC, AML, etc. However, this may not be possible in the future.

Perhaps there will be an anonymous and confidential web 3.0. based on Monero and Tari. There will be no KYC and AML.

Will Tari even be launched? Lol. It has been like 5 years since it was first announced. It sounded refreshing when they said they weren’t doing a public funding round through an ICO. This was during a time when ICO’s were usually scammy, even the legit projects were scammy because the tokenomics were bad and primed the team and the private investors for selling down and leave the community holding the bag.

Anyway some suggestions in the thread look too ‘out there’. I don’t think the books and the casinos will dabble in DeFi or NFTs. They already have enough on their plate as far as dealing with the law goes. Lol. But what they could do is branch out to fantasy sports which I think is just a natural progression. It’s not really a big move but sports betting sites and other gambling sites aren’t really going for more ‘cutting edge’ stuff to be more competitive.

Boristhecat

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Quote from: SirLancelot on January 18, 2022, 01:10:01 PM

Quote from: Boristhecat on January 18, 2022, 11:02:40 AM

as far as I understand, they succeed very poorly, since it is easy to “pressure” an organization, but it is difficult to “pressure” a large number of people.

Yeah, the next big progress of gambling industry might be coming out from governments' side in terms of regulations. As long as people are preferring to have fiats as one of their payment options then casinos will go for license related things which again lead to get approval from governments; when gamblers stick within cryptos for their gambling, then casinos will be able to operate without need of government's nod which will eliminate the possibilities of government's intervention into gambling industry.

In my opinion, crypto casinos are already doing a great job with government pressure. If you do not play for millions of dollars, then you have a huge selection of crypto casinos where you can bet without KYC, that's a fact. The problem is that if we are talking about the Metaverses, then each Metaverse has a creator - in fact, these are centralized projects and there will definitely not be such freemen that are now in crypto gambling.

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Quote from: CDC AP on January 17, 2022, 09:57:14 AM

Actually I don't what will the regulators next approach on the next generation Online Casino since most of them is moving toward Web 3.0 format which is a completely decentralized. I wonder how can they still regulate or required KYC procedure for gamblers that playing on exceeding amount of the required for the KYC.

Web 3.0 sphere. may also be subject to regulatory restrictions.

Creators of Web 3.0. they are living people. They may be fined. They can be repressed. They can be put in jail. web 3.0. it is a direct competitor to the modern financial system. Currently, online casinos can plan to work in web 3.0. without KYC, AML, etc. However, this may not be possible in the future.

Perhaps there will be an anonymous and confidential web 3.0. based on Monero and Tari. There will be no KYC and AML.

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Quote from: molsewid on January 14, 2022, 10:43:16 AM

Quote from: Lucasgabd on January 14, 2022, 07:28:36 AM

you are right, wouldn't be smart to put all your savings on stablecoins, but for now they are surviving the test of time, let's see if this keeps like that or if we'll have issues on the market soon

best advice at this moment would be:
stay alert

I believe that with the current market we have right now in crypto stable coins are the good option though I would not also advise to of course put all your savings in to stable coins because this kind of strategy only works if ever you have stop loss or cut your loss when you see that the market is going to have a huge price correction (this is base on my experience and opinion). But to be honest, the market situation right now is a good time to take advantage to add or refill your portfolio with the token that you really love to hodl for a long term investment.

yes, I agree with you
I'm referring a bit more to regulatory risks and protocol level or smart contract issues, but totally agree that for those who wants exposure to fiat without leaving to TradFi a basket of stablecoins will do the job well

madnessteat

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Quote from: OgNasty on January 18, 2022, 03:29:32 PM

I've seen sites like NFTrade.com that offer trading of NFTs, where you can put your NFT on the trading block and receive or make offers for other NFTs with it. I think the natural evolution of this idea will be to implement that sort of thing with gambling. If you were able to find a partner with a similar valued NFT to gamble with, that might be interesting. Imagine betting a Bored Ape against a Crypto Punk on a roll of the dice. That would be some epic stakes... I'm sure it's only a matter of time at this point...

Yes, I also believe that we will see demand for this kind of service. And even if the creator of such a site will charge a commission of no more than 0.5-2% of the value of the bet he will have good money. It seems to me that the realization of betting on smart contracts using NFT standard tokens is not so difficult.

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Quote from: milewilda on January 18, 2022, 03:22:04 PM

Quote from: KTChampions on January 18, 2022, 02:39:03 PM

Yes, I also do not see any request from gamblers for changes. Everyone is happy with what they have (I mean the mechanics of the game and not legal issues, etc.) - what improvements can you come up with for example in dice? There may be some settings for autogambling or games for finding series, but this is not a change in the game, just one of the options that fundamentally does not change anything.

For now we couldnt see but deep inside we do really seek out for something unique or something that havent seen on this market which means that we would really be that much interested
if ever there is someone who do offer and pretty sure that theres some development into that and we know on what it is and one of this one is in talks of metaverse
but as long it wasnt still launched then we do still remain on being speculative which it isnt really that much surprising.

I would look with great interest at a really new project, but I do not really understand how it can appear. It seems to me that you can come up with any new form (even games, even lotteries, even auctions, and so on), but the mathematical form will not change. The organizer of the game will always have a small mathematical advantage against the player, and a long game will lead to losses, and a short game will lead to emotions in the form of an adrenaline rush. I don't know what can be changed here.

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Quote from: Ryker1 on January 18, 2022, 04:58:15 AM

Quote from: tabas on January 18, 2022, 03:33:58 AM

Quote from: pinggoki on January 18, 2022, 02:26:02 AM

Probably the virtual space is the only answer to this, gambling doesn't necessarily have any improvement for a really long time so I don't see how they will be able to change things for the better especially if the system that they've created is already perfect for them. Maybe there's more that I can't think of or didn't even imagine that they're going to do but we know the industry and it's not going to fix what's not broken.

I disagree about not acknowledging the changes that have happened within the gambling industry. How long does that long time for you? Before it was only with fiat and a few games that were very common to everybody. Then, the crypto has come and the gambling industry has helped it make known to the world. And then, newer games have come for which become popular for each casino that has only a few games to offer to their customers, actually, there has been a lot of improvements for the past years. We really have no idea what's going to be the latest and new changes that's about to come but we're going to see it then in the near future.

Well one thing that I am for sure, it is all about virtualization.
I am thinking of a gambling innovation something like to do gamble like a real using VR, of course using your avatar that connected through the internet seems like you are in an offline gambling casino. Technologies make things possible and they could be applicable to the casino and we know that the innovation in the gambling industry as of now has been grown. That is indeed true, we don't know what will happen in the future but for sure we will innovate the old stuff.

That's what everyone is saying that will be adopted by gambling companies soon. Yeah, it's for sure that innovation will take place and that's inevitable.
In every adaptable industry that uses technology, they have no choice but to try and adopt it if it seems to be good for their business. That's where everything is going soon.

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Quote from: madnessteat on January 18, 2022, 01:09:28 PM

Quote from: oHnK on January 18, 2022, 11:16:32 AM

^

Governments of any country cannot fully regulate cryptocurrencies, so they try to create their own CBDCs. This will reduce the cost of processing payment data and increase the speed of transactions. A huge disadvantage of CBDCs can be considered the lack of decentralization, which means that at any time your funds can simply be blocked without your knowledge.

The one and only point of cryptocurrency is to have a decentralised, uncontrollable and completely uncorruptable payment and banking option. CBDC is basically a fake cryptocurrency made in a desperate attempt to sideshow the current cryptocurrency without offering anything that would make CBDC's just as attractive, at the very least. This won't end well and will be a dead end as the real cryptocurrencies continue growing.

Fundamentals Of

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Quote from: coupable on January 18, 2022, 11:24:41 PM

Quote from: Fundamentals Of on January 18, 2022, 10:03:47 PM

Quote from: coupable on January 18, 2022, 05:13:05 PM

Quote from: blockman on January 18, 2022, 01:52:15 PM

Accepting CBDC is just going to be another currency that they'll accept if their customers are comfortable of using it.
I don't see a reason why adopting it would kill the other supported and accepted cryptos for such casinos. It's better to have a lot of choices to become flexible and that's why I don't see it the reason for killing those currently accepted ones.

It's better to have a lot of choices but unfortunately it's not always possible especially with platforms who are forced to apply identity verification for its customers. Also it's a better option than supporting local currencies then convert it to pairs accepted by the platforms to place bets.
The negative side is that it's a centralized currency and can be frozen at anytime whether by its creators or by the platform itself .

But regardless of the currency used, whether it is fiat or cryptocurrency, since the gambling platforms are centralized, there is really nothing the features of those cryptocurrencies can do. Bitcoin for example is pseudoanonymous but it would only be defeated if casinos will implement identity verification. Or Bitcoin transactions for example are irreversible but the centralized casinos could still cancel a Bitcoin bet. They could also freeze Bitcoin funds of users.

Well i can understand your point. What i meant is that CBDC is a centralized currency that is built in top of a smart-contract by which the creator can freeze it after being transferred to a new address. I didn't mean this to happen within the gambling platforms themselves because those are just scriptural numbers in the screen and can be edited at any time. What i meant is that CBDC can be frozen even once reach your personal address by the creator of the smart-contract in which it was built or by the gambling platform itself by reporting your address to the CBDC smart-contract creator. This is not only limited to CBDC but for almost the majority of stable coins having the same "freeze" feature just like USDT ERC20 token .

Yes, I get your point now. So it would be not just a double disadvantage but a triple disadvantage if a CBDC is used. It is centralized itself. It is being ran on a centralized network. And it is being used in a centralized platform which is the gambling site. This is not just a unique case with CBDC. This is also the case with stablecoins. But in the name of providing all the options to the users, I guess it would be best to make fiat, CBDCs, altcoins, Bitcoin, altcoin stablecoins, and everything available.

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Quote from: Fundamentals Of on January 18, 2022, 10:03:47 PM

Quote from: coupable on January 18, 2022, 05:13:05 PM

Quote from: blockman on January 18, 2022, 01:52:15 PM

Accepting CBDC is just going to be another currency that they'll accept if their customers are comfortable of using it.
I don't see a reason why adopting it would kill the other supported and accepted cryptos for such casinos. It's better to have a lot of choices to become flexible and that's why I don't see it the reason for killing those currently accepted ones.

It's better to have a lot of choices but unfortunately it's not always possible especially with platforms who are forced to apply identity verification for its customers. Also it's a better option than supporting local currencies then convert it to pairs accepted by the platforms to place bets.
The negative side is that it's a centralized currency and can be frozen at anytime whether by its creators or by the platform itself .

But regardless of the currency used, whether it is fiat or cryptocurrency, since the gambling platforms are centralized, there is really nothing the features of those cryptocurrencies can do. Bitcoin for example is pseudoanonymous but it would only be defeated if casinos will implement identity verification. Or Bitcoin transactions for example are irreversible but the centralized casinos could still cancel a Bitcoin bet. They could also freeze Bitcoin funds of users.

Well i can understand your point. What i meant is that CBDC is a centralized currency that is built in top of a smart-contract by which the creator can freeze it after being transferred to a new address. I didn't mean this to happen within the gambling platforms themselves because those are just scriptural numbers in the screen and can be edited at any time. What i meant is that CBDC can be frozen even once reach your personal address by the creator of the smart-contract in which it was built or by the gambling platform itself by reporting your address to the CBDC smart-contract creator. This is not only limited to CBDC but for almost the majority of stable coins having the same "freeze" feature just like USDT ERC20 token .

Fundamentals Of

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Quote from: coupable on January 18, 2022, 05:13:05 PM

Quote from: blockman on January 18, 2022, 01:52:15 PM

Accepting CBDC is just going to be another currency that they'll accept if their customers are comfortable of using it.
I don't see a reason why adopting it would kill the other supported and accepted cryptos for such casinos. It's better to have a lot of choices to become flexible and that's why I don't see it the reason for killing those currently accepted ones.

It's better to have a lot of choices but unfortunately it's not always possible especially with platforms who are forced to apply identity verification for its customers. Also it's a better option than supporting local currencies then convert it to pairs accepted by the platforms to place bets.
The negative side is that it's a centralized currency and can be frozen at anytime whether by its creators or by the platform itself .

But regardless of the currency used, whether it is fiat or cryptocurrency, since the gambling platforms are centralized, there is really nothing the features of those cryptocurrencies can do. Bitcoin for example is pseudoanonymous but it would only be defeated if casinos will implement identity verification. Or Bitcoin transactions for example are irreversible but the centralized casinos could still cancel a Bitcoin bet. They could also freeze Bitcoin funds of users.

coupable

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Quote from: blockman on January 18, 2022, 01:52:15 PM

Accepting CBDC is just going to be another currency that they'll accept if their customers are comfortable of using it.
I don't see a reason why adopting it would kill the other supported and accepted cryptos for such casinos. It's better to have a lot of choices to become flexible and that's why I don't see it the reason for killing those currently accepted ones.

It's better to have a lot of choices but unfortunately it's not always possible especially with platforms who are forced to apply identity verification for its customers. Also it's a better option than supporting local currencies then convert it to pairs accepted by the platforms to place bets.
The negative side is that it's a centralized currency and can be frozen at anytime whether by its creators or by the platform itself .

Topic: What will be the next big industry move? - page 34. (Read 4746 times)