Why they need a license if bitcon is not money?

delfastTions

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Quote from: gunhell16 on December 05, 2024, 01:17:44 AM

Quote from: EarnOnVictor on December 05, 2024, 12:40:04 AM

Quote from: coinerer on October 29, 2024, 02:26:42 PM

Quote from: TribalBob on October 29, 2024, 09:22:23 AM

Quote from: Botnake on October 20, 2024, 09:45:52 AM

Quote from: Fivestar4everMVP on October 20, 2024, 08:24:20 AM

In cases where the casino may get hacked and kyc documents stolen, in most cases, we can't completely put all the blame them because believe it or not, every business sometimes go through issues no matter the type of issue.

As long as the casinos follow the proper data protection measures required by regulators, they can’t be blamed. But if they don’t, then they should face complaints and possible lawsuits. This is part of the risk we take when entrusting them with our data through KYC requirements. To minimize that risk, we have to be selective in choosing the right casino to play with, and that is to stick to reputable ones, as they usually have stronger security measures in place.

true if we do KYC means we are sure that the casino we choose is the best and does have a good reputation, if there is a kidnapping incident or one that aims to thwart our victory, it can be said that an unfair casino does not want to experience losses by issuing a large jackpot,
a casino that provides a jackpot must have thought about everything and it can be said that giving a jackpot is a reward for players who have been loyal to playing, but it is given randomly and if the jackpot can come out, it means that it is indeed the luck of the winner

When you do KYC verification in a casino it must be a rebootable site otherwise you might get attacked if you jack too big. Because your full identity will be with them and this is why all types of casino sites should avoid verification.

Funny you! Do you mean everyone should avoid KYC simply because they will be attacked? How many people have they attacked just because they win big? If you count heads in relation to the number of winners, you will realise that it is negligible. I see this the same as people should not drive or board a vehicle because some people had accidents with it, that advice is not accurate and casinos will not be busy displaying you all over the internet just because you win, they will surely respect your privacy unless you choose to compromise it yourself by flaunting the wealth around.

Well, we know that when a gambling online casino is regulated under by the government, it is probably normal for the gambling platform to ask for kyc from one of their gamblers to see if it is a legit account owner, especially if a large amount of money is to be withdrawn from their platform.

But if the casino is not regulated, I think and I know that even if they don't ask for kyc, it's fine, but there are others, even illegal casinos, that still ask for kyc and this is what should be avoided and taken care of.

However, in any case, it is much better if the casino does not know the player's personal data. Of course, a large payout in case of winning will most likely be impossible. But on the other hand, you are in any case much more insured even from such a rare, but still occurring from time to time, criminal blackmail by advanced criminals who have gained access to the classified personal data of clients who are going to take away the money you received. And we all must take into account that since there are two options for leaking personal data into the network, namely theft of databases by a corrupted employee of the casino itself and hacker hacking of these personal data databases, the likelihood of at least one of these crimes doubles. So, when passing KYC, it is still worth thinking about this.

gunhell16

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Quote from: EarnOnVictor on December 05, 2024, 12:40:04 AM

Quote from: coinerer on October 29, 2024, 02:26:42 PM

Quote from: TribalBob on October 29, 2024, 09:22:23 AM

Quote from: Botnake on October 20, 2024, 09:45:52 AM

Quote from: Fivestar4everMVP on October 20, 2024, 08:24:20 AM

In cases where the casino may get hacked and kyc documents stolen, in most cases, we can't completely put all the blame them because believe it or not, every business sometimes go through issues no matter the type of issue.

As long as the casinos follow the proper data protection measures required by regulators, they can’t be blamed. But if they don’t, then they should face complaints and possible lawsuits. This is part of the risk we take when entrusting them with our data through KYC requirements. To minimize that risk, we have to be selective in choosing the right casino to play with, and that is to stick to reputable ones, as they usually have stronger security measures in place.

true if we do KYC means we are sure that the casino we choose is the best and does have a good reputation, if there is a kidnapping incident or one that aims to thwart our victory, it can be said that an unfair casino does not want to experience losses by issuing a large jackpot,
a casino that provides a jackpot must have thought about everything and it can be said that giving a jackpot is a reward for players who have been loyal to playing, but it is given randomly and if the jackpot can come out, it means that it is indeed the luck of the winner

When you do KYC verification in a casino it must be a rebootable site otherwise you might get attacked if you jack too big. Because your full identity will be with them and this is why all types of casino sites should avoid verification.

Funny you! Do you mean everyone should avoid KYC simply because they will be attacked? How many people have they attacked just because they win big? If you count heads in relation to the number of winners, you will realise that it is negligible. I see this the same as people should not drive or board a vehicle because some people had accidents with it, that advice is not accurate and casinos will not be busy displaying you all over the internet just because you win, they will surely respect your privacy unless you choose to compromise it yourself by flaunting the wealth around.

Well, we know that when a gambling online casino is regulated under by the government, it is probably normal for the gambling platform to ask for kyc from one of their gamblers to see if it is a legit account owner, especially if a large amount of money is to be withdrawn from their platform.

But if the casino is not regulated, I think and I know that even if they don't ask for kyc, it's fine, but there are others, even illegal casinos, that still ask for kyc and this is what should be avoided and taken care of.

EarnOnVictor

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Quote from: coinerer on October 29, 2024, 02:26:42 PM

Quote from: TribalBob on October 29, 2024, 09:22:23 AM

Quote from: Botnake on October 20, 2024, 09:45:52 AM

Quote from: Fivestar4everMVP on October 20, 2024, 08:24:20 AM

In cases where the casino may get hacked and kyc documents stolen, in most cases, we can't completely put all the blame them because believe it or not, every business sometimes go through issues no matter the type of issue.

As long as the casinos follow the proper data protection measures required by regulators, they can’t be blamed. But if they don’t, then they should face complaints and possible lawsuits. This is part of the risk we take when entrusting them with our data through KYC requirements. To minimize that risk, we have to be selective in choosing the right casino to play with, and that is to stick to reputable ones, as they usually have stronger security measures in place.

true if we do KYC means we are sure that the casino we choose is the best and does have a good reputation, if there is a kidnapping incident or one that aims to thwart our victory, it can be said that an unfair casino does not want to experience losses by issuing a large jackpot,
a casino that provides a jackpot must have thought about everything and it can be said that giving a jackpot is a reward for players who have been loyal to playing, but it is given randomly and if the jackpot can come out, it means that it is indeed the luck of the winner

When you do KYC verification in a casino it must be a rebootable site otherwise you might get attacked if you jack too big. Because your full identity will be with them and this is why all types of casino sites should avoid verification.

Funny you! Do you mean everyone should avoid KYC simply because they will be attacked? How many people have they attacked just because they win big? If you count heads in relation to the number of winners, you will realise that it is negligible. I see this the same as people should not drive or board a vehicle because some people had accidents with it, that advice is not accurate and casinos will not be busy displaying you all over the internet just because you win, they will surely respect your privacy unless you choose to compromise it yourself by flaunting the wealth around.

nullama

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Quote from: AGULIS on December 04, 2024, 12:17:42 PM

~snip~
I think governments in general don't like financial privacy and want more control over where and how we use our money.

Of course that's true.

Most governments around the world want to control the means of wealth production.

They want to keep their citizens productive, and by checking how much everyone is making they are able to control how much they should pay in taxes, etc.

It's a rather complex system, but if you simplify it you end up with basically a bare minimum payment for creating goods and services. That's how the majority in a country usually lives.

AGULIS

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Quote from: seoincorporation on January 18, 2024, 09:01:29 PM

It's fun guys, govs hardly avoid accepting Bitcoin is money, but when it comes to gambling then users are risking money, so, casinos need a license.

Let's be honest, If you can deposit, wager, and withdraw. I don't see where the license is in the process...

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

Crypto gambling needs freedom, and i insist in this point. If you can Deposit, Wager and Widrawal, then you don't need anything else. And a big shout out to those casinos who still working until now without a license, freebitco.in, Just-Dice.com, bustabit.com... They are big examples of how crypto gambling should be.

I think governments in general don't like financial privacy and want more control over where and how we use our money.

delfastTions

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Quote from: Fivestar4everMVP on November 04, 2024, 08:04:23 AM

Quote from: Bushdark on November 03, 2024, 06:50:17 PM

Quote from: Dunamisx on October 29, 2024, 05:57:54 PM

We cannot predict some of the gambling platforms operator s the same way we not be able to predict what the government may offer or say concerning their existence, they will require all these because they are waiting for their own share, all in the name of regulation, we are paying tax, yet there are many occasions that this same tax you're collecting have becomes the major point for your attack as well.

The government will never act in a way that will not benefit them at all. Gambling is a thing if choice same as Crypto investment.
Then government can come and say whatever they like just to make us see good reasons why see need to face unsafe when they are not in charge. This is a act of confusion and we should alwaysfollow their thoughts or opinions. Bitcoin is money same as other cryptocurrency in the market. Anyone can choose to invest in cryptocurrency but the government want to make it looks like we need them in regulating it so we can feel safe.

You are right anyway, and this is not to side the government since I myself don't trust them, but let's be sincere with ourselves that when it comes to true adoption, it's not and won't be easy to achieve without the government getting involved, and before the government can approve an asset to be adopted, a regulating infrastructure must have been put on place.

Secondly, it's important we also understand that regulation helps to decrease or reduce the rate of scam and fraudsters in a system or market.
Imagine a system where every one is absolutely free to do what ever they like without any form or rules guiding them, most people will look for the gullible to take from, instead of working hard to earn their own. This is one of the things kyc verification have helped to reduce in this industry, and how did kyc verification come about?, it's through the government trying to see how they can regulate crypto and it's services.

So, it's not entire bad to have a government show interest in regulating a market or business, it's still for the betterment of its users.

I don't think that KYC identity verification has seriously helped in the fight against online fraud. Experienced criminals probably consider this verification to be just one of the very small obstacles to the implementation of their fraudulent goals. And probably already invented ways to bypass this filter to reduce fraud.
But for some reason people think that this identity check is a good guarantee that criminals will be caught and sent to prison. But in my opinion, this is not true at all, and businesses, including casinos, also use this check itself simply by collecting personal data bases and then selling this data for targeted advertising.
Moreover, the sale can be disguised as hacking by hackers or theft by an employee. And such crimes with deliberate intent and a prepared alibi are, in principle, very difficult to prove to any investigation. Moreover, such crimes are not serious and no one really bears serious punishment for them.

Fivestar4everMVP

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Quote from: Bushdark on November 03, 2024, 06:50:17 PM

Quote from: Dunamisx on October 29, 2024, 05:57:54 PM

We cannot predict some of the gambling platforms operator s the same way we not be able to predict what the government may offer or say concerning their existence, they will require all these because they are waiting for their own share, all in the name of regulation, we are paying tax, yet there are many occasions that this same tax you're collecting have becomes the major point for your attack as well.

The government will never act in a way that will not benefit them at all. Gambling is a thing if choice same as Crypto investment.
Then government can come and say whatever they like just to make us see good reasons why see need to face unsafe when they are not in charge. This is a act of confusion and we should alwaysfollow their thoughts or opinions. Bitcoin is money same as other cryptocurrency in the market. Anyone can choose to invest in cryptocurrency but the government want to make it looks like we need them in regulating it so we can feel safe.

You are right anyway, and this is not to side the government since I myself don't trust them, but let's be sincere with ourselves that when it comes to true adoption, it's not and won't be easy to achieve without the government getting involved, and before the government can approve an asset to be adopted, a regulating infrastructure must have been put on place.

Secondly, it's important we also understand that regulation helps to decrease or reduce the rate of scam and fraudsters in a system or market.
Imagine a system where every one is absolutely free to do what ever they like without any form or rules guiding them, most people will look for the gullible to take from, instead of working hard to earn their own. This is one of the things kyc verification have helped to reduce in this industry, and how did kyc verification come about?, it's through the government trying to see how they can regulate crypto and it's services.

So, it's not entire bad to have a government show interest in regulating a market or business, it's still for the betterment of its users.

Hatchy

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Quote from: Bushdark on November 03, 2024, 06:50:17 PM

The government will never act in a way that will not benefit them at all. Gambling is a thing if choice same as Crypto investment.
Then government can come and say whatever they like just to make us see good reasons why see need to face unsafe when they are not in charge. This is a act of confusion and we should alwaysfollow their thoughts or opinions. Bitcoin is money same as other cryptocurrency in the market. Anyone can choose to invest in cryptocurrency but the government want to make it looks like we need them in regulating it so we can feel safe.

Well I pity anyone who needs the government to feel safe. That's one of the worst case scenario in this life as you will get kill before you realize that the government don't care about the people who they were meant to govern but only care about their own interests. Bitcoin is one of the safest heaven for anyone who really understands how it works. They are just after it because they know very well that it's something that they will never be able to control like the fiat they already do.. Bitcoin is digital money and tops the regular fiat in so many ways.

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Quote from: Dunamisx on October 29, 2024, 05:57:54 PM

We cannot predict some of the gambling platforms operator s the same way we not be able to predict what the government may offer or say concerning their existence, they will require all these because they are waiting for their own share, all in the name of regulation, we are paying tax, yet there are many occasions that this same tax you're collecting have becomes the major point for your attack as well.

The government will never act in a way that will not benefit them at all. Gambling is a thing if choice same as Crypto investment.
Then government can come and say whatever they like just to make us see good reasons why see need to face unsafe when they are not in charge. This is a act of confusion and we should alwaysfollow their thoughts or opinions. Bitcoin is money same as other cryptocurrency in the market. Anyone can choose to invest in cryptocurrency but the government want to make it looks like we need them in regulating it so we can feel safe.

nullama

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Quote from: seoincorporation on January 18, 2024, 09:01:29 PM

It's fun guys, govs hardly avoid accepting Bitcoin is money, but when it comes to gambling then users are risking money, so, casinos need a license.

Let's be honest, If you can deposit, wager, and withdraw. I don't see where the license is in the process...

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

Crypto gambling needs freedom, and i insist in this point. If you can Deposit, Wager and Widrawal, then you don't need anything else. And a big shout out to those casinos who still working until now without a license, freebitco.in, Just-Dice.com, bustabit.com... They are big examples of how crypto gambling should be.

Governments, at least in the US, have been considering Bitcoin money as far back as Casascius coins. They stopped in 2013 because the US said they were doing money transmitting, and they needed a license.

It's been more than a decade after that, so I think it is pretty clear that the government accepts Bitcoin is money. It is now even legal tender in El Salvador...

delfastTions

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Quote from: EarnOnVictor on November 01, 2024, 02:59:06 AM

Quote from: delfastTions on October 31, 2024, 02:14:24 AM

Quote from: EarnOnVictor on October 30, 2024, 01:37:03 PM

Quote from: delfastTions on October 30, 2024, 02:04:12 AM

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system.

Sure, the attacks on the USD and the conspiracy to silence it will continue but it will not prevail. What can prevail is a better and more stable currency of the competitors, but all those traitors do not have the qualifications, so let's face the reality. The USD did not just get strong and prominent suddenly, it took a whole lot of political and economic reforms. Let them also strive for better currencies in their respective countries before they start fighting the USD.

Quote

As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

Bukele solved the problem of IMF loans, how?

But I must commend your sincerity about the general economy even though I don't agree with you on the fintech development. It is a must with or without Bitcoin.

It's just that the general progress of civilization will still lead to the fact that the dollar, that is, the currency actually issued by only one country in the world, although powerful in economic terms, will not suit competing and no less powerful economies in the long term. And this means that gradually civilization will come to an agreement on issuing a common currency.

I love this reply, the world can only come in one accord to agree on a certain "asset," and maybe it will stop this fight against the USD and avoid the shadow chasing of the rival nations. If you noticed, I used "asset" instead of the "currency" used by you, the reason is that no other nation's currency is as stable and recognized as that of the USD, so a good asset could be a better replacement.

On thinking deeper, CHF is a very good alternative but it is just a tiny nation in Europe (no strong political power), will the world accept that? Gold was also used in the past and Gold has proven to be a viable alternative but was displaced for the USD due to economic and political reasons. Notwithstanding, till today, no nation has been forced to choose the USD, there are alternatives (currencies and assets) but decided to choose the USD due to the advantages and safety attached to it.

I agree that at the moment the dollar is the leading "asset", unless of course you consider gold as such. However, I must note that in any case, the powerful developing economies of China and India will still at some point understand that the control and emission of a global asset in a foreign country for them - the USA of this asset, and even by an incomprehensible body - the Federal Reserve System, can no longer be used as a global equivalent of value. This is an inevitable process simply based on the population of these countries and the inevitable outstripping growth of intellectual development of the population of these countries, which in turn leads to technological breakthroughs in many industries. So in any case, the dollar monopoly will end and this sunset of the dollar era, in my opinion, is on the horizon of the next 20 years.

tread93

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Quote from: NotATether on October 31, 2024, 05:08:13 AM

Quote from: seoincorporation on January 18, 2024, 09:01:29 PM

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

How exactly did Curacao come into all of this in the first place?

As far as people here are concerned, you'd want to get licenses in countries in which you want to operate in. Considering a Curacao license does not even let you play in that country, you kind of have to wonder what was their big idea when they were thinking about trying to regulate all crypto casinos.

It just comes down to Curcaro's loose regulations which makes it a really attractive place for gambling casino operators and as a result there is insane ML going on there lol. The legitimacy of Curaco's licenses though don't really offer the permit in their own territory which is weird just really targeting international licenses. Maybe some sort of decentralized solution could fix this. I think their motivations are not really protecting the operators just protecting their ability to profit

Fivestar4everMVP

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Quote from: NotATether on October 31, 2024, 05:08:13 AM

Quote from: seoincorporation on January 18, 2024, 09:01:29 PM

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

How exactly did Curacao come into all of this in the first place?

As far as people here are concerned, you'd want to get licenses in countries in which you want to operate in. Considering a Curacao license does not even let you play in that country, you kind of have to wonder what was their big idea when they were thinking about trying to regulate all crypto casinos.

Well, I don't know, but personally, I've always been of the opinion that Curaçao license is completely useless to the gambling community as it holds no value to those who really have a true understanding of what a license truly is and what it can do..
I see Curaçao license as nothing but a decoration in casinos because, a casino operating with this license alone means and proves nothing.

Imagine a situation where a casino holding a license which was issued to them by a supposed legal entity ends up scamming or rug pulling on their users, and the licensing company or entity which was supposed to act as an aid and savior to the customers of that casino don't even know the faces of those who ran the casino, let alone having any means of recovering the funds belonging to the customers of that casino.. It's pathetic.

EarnOnVictor

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Quote from: delfastTions on October 31, 2024, 02:14:24 AM

Quote from: EarnOnVictor on October 30, 2024, 01:37:03 PM

Quote from: delfastTions on October 30, 2024, 02:04:12 AM

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system.

Sure, the attacks on the USD and the conspiracy to silence it will continue but it will not prevail. What can prevail is a better and more stable currency of the competitors, but all those traitors do not have the qualifications, so let's face the reality. The USD did not just get strong and prominent suddenly, it took a whole lot of political and economic reforms. Let them also strive for better currencies in their respective countries before they start fighting the USD.

Quote

As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

Bukele solved the problem of IMF loans, how?

But I must commend your sincerity about the general economy even though I don't agree with you on the fintech development. It is a must with or without Bitcoin.

It's just that the general progress of civilization will still lead to the fact that the dollar, that is, the currency actually issued by only one country in the world, although powerful in economic terms, will not suit competing and no less powerful economies in the long term. And this means that gradually civilization will come to an agreement on issuing a common currency.

I love this reply, the world can only come in one accord to agree on a certain "asset," and maybe it will stop this fight against the USD and avoid the shadow chasing of the rival nations. If you noticed, I used "asset" instead of the "currency" used by you, the reason is that no other nation's currency is as stable and recognized as that of the USD, so a good asset could be a better replacement.

On thinking deeper, CHF is a very good alternative but it is just a tiny nation in Europe (no strong political power), will the world accept that? Gold was also used in the past and Gold has proven to be a viable alternative but was displaced for the USD due to economic and political reasons. Notwithstanding, till today, no nation has been forced to choose the USD, there are alternatives (currencies and assets) but decided to choose the USD due to the advantages and safety attached to it.

NotATether

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Quote from: seoincorporation on January 18, 2024, 09:01:29 PM

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

How exactly did Curacao come into all of this in the first place?

As far as people here are concerned, you'd want to get licenses in countries in which you want to operate in. Considering a Curacao license does not even let you play in that country, you kind of have to wonder what was their big idea when they were thinking about trying to regulate all crypto casinos.

delfastTions

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Quote from: EarnOnVictor on October 30, 2024, 01:37:03 PM

Quote from: delfastTions on October 30, 2024, 02:04:12 AM

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system.

Sure, the attacks on the USD and the conspiracy to silence it will continue but it will not prevail. What can prevail is a better and more stable currency of the competitors, but all those traitors do not have the qualifications, so let's face the reality. The USD did not just get strong and prominent suddenly, it took a whole lot of political and economic reforms. Let them also strive for better currencies in their respective countries before they start fighting the USD.

Quote

As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

Bukele solved the problem of IMF loans, how?

But I must commend your sincerity about the general economy even though I don't agree with you on the fintech development. It is a must with or without Bitcoin.

It's just that the general progress of civilization will still lead to the fact that the dollar, that is, the currency actually issued by only one country in the world, although powerful in economic terms, will not suit competing and no less powerful economies in the long term. And this means that gradually civilization will come to an agreement on issuing a common currency. This is approximately what was done when organizing the euro in Europe 25-30 years ago. I will not argue, this is of course a long process, but it is inevitable and the dollar will eventually come down to the level of the local currency. It will be replaced by a new common monetary unit. This has always been the case in the development of mankind and will certainly be exactly the case.

As for fintech development in El Salvador, it is simply obviously much more effective than in neighboring countries. Plus, it is worth adding the introduction of information about bitcoins and its mining and other modern technologies into the education system of this country.
The issue with the IMF has been resolved since the IMF itself no longer requires El Salvador to eliminate the legalization of bitcoin and works with this country in the usual manner, as with all other countries.

dwyane36

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Quote from: Lanatsa on October 29, 2024, 04:42:46 PM

We have already seen this transition and it is really that gradually happening now and as we have seen that those known KYC-less platforms back in the past are now leading on imposing up such rule about KYC verification before they could be able to sign up (Roobet) and able to make withdrawals (Stake) on which its something that you do need to comply before you could proceed. At first, whom had thought that these sites will really be that becoming strict when it comes to compliance?. Some people had already anticipated it on which same as you said that government wouldnt really be allowing for these businesses not to be regulated or something that they cant be able to milk it out with some taxes.Therefore, they will really be trying out to control these businesses and will really be requiring out to follow up some regulation for them to continue on operation on which these businesses wont really be having any option but to follow or else they will really be facing up some problems.

It all depends on what jurisdiction a particular gambling site is in. Those gambling sites you have mentioned most likely feel fine in their current jurisdictions, and they just follow the requirements of the regulators. However, I think that any major gambling sites can easily change jurisdictions if the regulators, for some reason, put a lot of pressure on them both in terms of restrictions and financial.

EarnOnVictor

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Quote from: delfastTions on October 30, 2024, 02:04:12 AM

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system.

Sure, the attacks on the USD and the conspiracy to silence it will continue but it will not prevail. What can prevail is a better and more stable currency of the competitors, but all those traitors do not have the qualifications, so let's face the reality. The USD did not just get strong and prominent suddenly, it took a whole lot of political and economic reforms. Let them also strive for better currencies in their respective countries before they start fighting the USD.

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As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

Bukele solved the problem of IMF loans, how?

But I must commend your sincerity about the general economy even though I don't agree with you on the fintech development. It is a must with or without Bitcoin.

delfastTions

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Quote from: EarnOnVictor on October 29, 2024, 06:19:31 AM

Quote from: delfastTions on October 29, 2024, 02:26:40 AM

Quote from: EarnOnVictor on October 24, 2024, 07:52:43 AM

Quote from: delfastTions on October 24, 2024, 02:12:35 AM

Quote from: EarnOnVictor on October 23, 2024, 11:33:45 AM

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But I 100% support the government's efforts to regulate Bitcoin activities, there is more dangers in leaving everyone to do as they like than to regulate it. And if your Bitcoin activity is legit, why fear the government? Just don't commit crimes with your Bitcoin and you will be fine.

However, we must take into account that Bitcoin is distributed all over the world. And mining is carried out in many countries and on different continents. And the regulation of Bitcoin turnover by governments and different countries is so radically different, from full legalization in El Salvador to a ban, for example, in China, that I cannot even imagine how politicians from different countries and financiers will be able to really approve common and uniform rules for regulating a payment system based on Bitcoin.
Now, in my opinion, humanity has not even come close to solving this problem.
And it obviously needs to be solved.

We are getting there my friend, it can't just be done once, it's gradual. Humanity will suffer more if there are no regulations at all, but for the fact that we still see a few regulations, the perpetrators are feeling the heat. I wonder how it will be if there is no KYC and other government watchdogs. Though some of the perpetrators find means to outsmart the government, many are being caught and face the consequences of their crimes.

If you look on the internet with this context, you will see enough financial evil being perpetrated through crypto, the syndicates are also getting wiser daily just as the government is increasing their beams. Had it been most countries could be as sophisticated as the US in cyber security, it would be better, but unfortunately, only a few advanced countries are fighting while others are just trying to join them in regulating the activity.

However, the example of El Salvador and the initiative of its president Nayib Bukele to legalize bitcoin have significantly outpaced all existing jurisdictions in the world. Including the USA, which is now being used as a guide by a significant portion of lawyers in other countries. But not all countries, of course.

No offence, I appreciate that Bitcoin advanced with the bold step of El Salvador, but what has that achieved for them so far? Nothing! That is the truth unless you allow people to deceive you. As someone deeply rooted in economics, I laugh when I read what most people say here in the name of Bitcoin, they are jokers. El Salvador is having serious financial issues right now and if Bitcoin had helped them, don't you think many countries would have joined? They couldn't because they've weighed the risk and the benefit.

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However, the world is truly becoming much more complex, including in matters of financial regulators. For example, the creation of a separate BRICS currency will clearly undermine the monopoly of the dollar as an international unit of account. And it may even destroy the monopoly of the dollar altogether. But such is progress and no one can stop it. In this context, the dollar is now repeating the fate of the once international monetary unit - the British pound sterling, which dominated the world before the introduction of the Bretton Woods system.
So bitcoin regulation will still be different in different countries. This will continue for a long time.

Regulations have never and will never be the same with countries, even with companies, their dos and don'ts vary, but everything they must do must not cheat the other party. Is it the case with most casinos if not for weak regulations? Again, it's a misconception that the USD has its monopoly, we have top-rated currencies and Gold as alternatives and countries have their sovereignty options. So it's their choice to choose the USD as their reserve. And they mainly choose it simply because it is more stable than their various shit-currencies.

I think that the process of abandoning the dollar as a stable currency will still continue, although it may take a long time. Moreover, with the inevitable continued growth of the economies of the giant countries - China, India, Indonesia, their local currencies will have more and more weight in the global economic system. And this will happen precisely against the background of a decrease in dollar turnover. It seems to me that the BRICS currency, if politicians agree, may well become a good alternative to the dollar. And it will be much more powerful than the dollar and the euro, since it will be supported by a powerful economy and countries participating in this agreement.

As for El Salvador, in my opinion, the experiment with the legalization of bitcoin there did not cause an explosive growth of the economy and the well-being of people, but it clearly contributed to an increase in the number of bitcoin tourists and the development of the fintech sector of the economy on their territory. And this result can well be considered quite successful.
Moreover, the Bukele government has already solved the problems with IMF loans.

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We cannot predict some of the gambling platforms operator s the same way we not be able to predict what the government may offer or say concerning their existence, they will require all these because they are waiting for their own share, all in the name of regulation, we are paying tax, yet there are many occasions that this same tax you're collecting have becomes the major point for your attack as well.

Topic: Why they need a license if bitcon is not money? (Read 4557 times)