Topic: Why they need a license if bitcon is not money? - page 10. (Read 4439 times)

Scammers kind of have countries, because it is easier to scam in countries where there is a weak law or it is no really enforced or where the government do not have the means to locate and prosecute people doing illicit activities on-line. In other words, scammers do not have contries, but there are some countries that tend to have scammers. It is just like that.

I know one thing and that is scammer has no country, no community, no nation, and no religion. They are just scammer nothing else. I want to say that a lot of gambling sites who take kyc documents but they are a scammer. Think about 1xbit, 1xbet and many more.

This is a true practice of scammers, they must have intended it from the beginning and they are using the cryptocurrency system to get their evil perpetrated. This is why I always tell people that I will never join them in signing up for the no-KYC casino. And even if I had to sign up for a decentralised casino, I would have thought it through for a long time and would even resolve to choose the old ones only. This will also be happening if my trusted casinos fail me, which I do not see coming for now.

With the way I see it, it is easy for the so-called decentralised casinos to scam if they are not truly decentralised. And these days, I wonder if their Dapps are open-source to make people truly know that they are capable of the independence preached for all parties. In the absence of this, they can do unspeakable evil in the guide of the decentralised system.

That aside, don't you think that judging by the level at which the government is controlling the centralised businesses linked to the crypto space, soon or later, they will start clamping down on decentralised ones?

Getting a license makes more trustworthy them than gamblers though we play with such money which is the opposite of this theory. We are using crypto to hide our identity but we are disclosing our identity by the name of taking a license.

The thing is clear, because when a casino call themselves a decentralised casinos, it becomes 100% free from kyc and by that it means, that casinos have no right to ask players for kyc verification and anytime their so is either their have become centralized to avoid crack down by regulators.


Or their have become outrightly scam being that only when a decentralised casino want to scam someone that their come up with what is not and that way the make it impossible for the gambler to pass through their verification process.

AFAIK, the license is for them to be allowed to operate, not for them to handle crypto money, that they are cryptocurrency casinos are not a pass for them to not take up the licenses and give their people a little bit of peace of mind, although nowadays, I do share the same sentiments as you, I don't think Curacao's doing its thing anymore. In the past they've been very strict and comprehensive with the licenses they give, they do background checks and and make sure that the casinos they give licenses to, deserve it wholly, nowadays it seems like they'd just give it to any casino who'd spare them money and pass it off as "licensing fee" this directly shatters the transparency and integrity that they are supposed to hold up, it's fucking stupid cause now you can't even tell the good casinos from the bad ones from the licensing alone, you'd have to dig deeper than the grand canyon to figure out if the casino you choose to play with is going to pay you your wins or not.

At the end of the day, it's just whichever casino you're most comfortable at, you can't be trusting too many casinos at a time anymore, and it's probably best that you pick a favorite if you don't want to lose your money over some casino who bought their licenses.

You're right since the government can just classify cryptocurrencies as not real money depending on how acceptable they are from those casinos where they are operating. They have no obligation to register but since most casinos do support crypto to fiat withdrawals and deposits, the obligation and responsibility is there.

While before we're seeing a lot of pure crypto casinos but with the continuous growth of the industry and as the demand is asking for that. Most of them have also the support in fiat and various currencies that can be found in many countries. And for that reason, most of them that do have that feature have to get themselves registered.

Its just they want to display something to show that their casino is compliant to the law so that people will be confident to trust the service they provide. That's why we are been oblige to submit this requirements since they are mandatory been asked to required this by government so they can successfully give all the requirements and get those documents. But in reality you have point regarding on your statement regarding about fiat since they will really be regulated with that.

I know to many people don't really like to proceed on a KYC process but if this will be required by a reputable casino then we will be forced to provide since if we don't do it then maybe we will get an issue or totally we can't gamble unless we can provide what they asked to us.

Actually, Casino that accepts only cryptocurrency is not breaking any law if they don’t have any license to operate since cryptocurrency is not considered as money on most country.

The requirements of license will enter if they will allow fiat deposit through bank transfer or credit cards since fiat always need to be regulated. But a casino that offers pure crypto is not required to get license. Most of the casino just acquired license because they offer fiat deposit and at the same time to gain trust of players since license is one of the feature which players always looking forward before they play.

A license makes them not illegally operating. There are some casinos started out without having a license but don't have intention to engage with illegal activities thus, they became operational and eventually got their license. But also, you're right that it's a way to protect the users that the casino won't get into illegal activities but we don't even know nowadays. There are casinos and exchanges that are having some inside activities that aren't involving their customers but could be involved in money laundering.

As long as we know the reputation of the casino that we're gambling with, there's no problem with that. What's wrong is that we know that the casino is already bad, we've read some reviews that justify how bad they are. Coming from the support, withdrawals, bugs, refunds, etc. and yet you still proceeded to that casino despite learning that it can happen to you.

       -    I also understand what you are saying: that there are other gamblers who, if we look at it, don't even care if the casinos they enter are illegal because they can gamble and win money. Because most of the gamblers—I don't know all of them—are greedy for money.

and they become greedy because usually they also look at gambling as their hope that they can get rich, even if we say that there is truth in what they think, but it rarely happens.

Maybe getting a license is only their way to attract users before they show their true face, so that it will be more worth it but there might be some who are genuine at the start and only changed later on. Most casinos can start with no license because they don't have a budget yet and then a license is mainly required when the size of the casino have grown a lot.

We don't need something like a license only to increase our confidence of becoming fair but it should come within our selves. Bitcoin and other cryptos are currencies but it's not the main reason on why the government requires a license to a casino but it might have to do with the tax.

absolutely mate you are  right and  having a license is a previllage by the owner. Cause it will identify their legitimacy cause we are all know that  once a casino have a license then their customers have some security cause that casino having a license they cant do some untrusted moves or let say scamming cause they will caught easier cause they give some of their private information and once they act suspicious then one thing for sure their casino will face some circumstances.. anyways as a gambler we need to choice a good casino to play with.

I do understand how other gamblers could feel as though their privacy is being sacrificed because of regulations implemented by having a license from the government but I think it also has some pros.

A license prevents a casino to suddenly do illegal activities that could harm their clients. In a way, regulation also protects gamblers from fraudulent and unjust gambling practices.

Well anyway I think it is just up to a gambler’s preference.

So for those issues raised maybe its better for people to decide whether its still worth it to risk their identity or not on those casino implement this requirement. Although we know that its really hard to provide what they ask due to security issue but these big casino cannot do anything since it will be bad for their business if they are not compliant to the law and they operate legally. So if people can't accept those KYC implementation then maybe its time for time to decide stop their activities on those casino who asked KYC.

And if they don't want to get scam since usually as we know that it happens on non-KYC or small time casino then better they should not go here. For sure there's a land base casino on their area or city so maybe they can enjoy their gambling experience without worrying about their identity.

A real gambler often has such circumstances in his life that he simply cannot play these games and provide the casino with his personal data. 
For many millions of people around the world, this could have a significant impact simply on the quality of their life.  For example, a player hides his passion for gambling from his employer, and he, if this contradicts the employer’s position, may be fired.  Sometimes people hide their gambling habits from their immediate family, such as their wives.  If she finds out, there will be a scandal and such a player will no longer be able to continue playing calmly.  You can also add such a limitation as social attitudes in the society to which the player belongs, for example, religious attitudes and condemnations of gambling.  In general, there can be many such factors.  But the person wants to play.  So such a player has to maintain anonymity.
 And accordingly, he has to ignore the casino that necessarily requires KYC.  And this has become more and more difficult lately.

People have really suffered at the hands of those casinos and it could be worse elsewhere. Imagine, decentralisation means that there is no central authority or oversights, so why demand KYC? Who is deceiving whom? Well, a lot of people will still fall victim to this, that's the extent of how gullible they can be. This issue of running away from KYC casinos to find solace in the no-KYC casino has made many become a victim of scams as easily as possible. What baffles me is that many of these people only have a small amount of money to gamble and they got the money through a legit means as well.

So why are they so particular about privacy and no-KYC casinos to the point of abandoning the respectable casinos that would not scam to try those they knew little or nothing about to the point that they lose all the money to them? To make it worse, for those of the casinos who would stay, the No-KYC casino over time may switch to KYC casino, is that not using their heads?

I use to think that way in the past that reasons why many gamblers are against regulations birth kyc is because of how casino handle the subject of kyc and how their go about their marketing,  quite alright some casinos promised to be decentralised and none kyc by along the li e their get it introduced into the system,  although this casinos should be classified in the class of scam casinos because most of the casinos that involve in such schemes always do so with the intended motive to scam the gamblers.

Because no legit casino will ask for kyc when the terms and conditions states their decentralised.
The issue with privacy and kyc and how those centralized platform handle users data's is more or less a deep subject that requires an entire thread dedicated to that discussion,  but sure the more regulations the more sane the gambling industry will become and gamblers will also have more security while using casinos.

The grievance of people buttress towards the way and manner cryptocurrency was introduced. Cryptocurrency mostly promised decentralization, privacy and anonymity, but the situation now is beyond that. Despite most of them still retaining those characteristics/attributes, the government has found ways to limit them by regulations through the companies and individuals transacting with them. This is a brilliant idea and I will always support it. Cryptocurrency cannot just be operating the way people want unchallenged, not when there are still working governments in the land. Fine, when it first came on board, the government would certainly be unaware or taking time to know how to deal with the situation. Those are the times you mention.

However, when they came up with their regulation, they changed the narrative, and crypto on its own can keep the necessary privacy and other characteristics, but once a company or regulated/licenced entity uses it, the same can't happen for the parties involved anymore. This is the rule unless they are not registered in any country, which can make them do as they like and even encourage their customers not to complete KYC. In the absence of that, due process must be followed. This has never stopped the true capability of cryptocurrency itself but just makes those using it more accountable. We should all respect that in this present dispensation.

Let's say that bitcoin is not money as we can read on the thread title, this is my opinion or what I think the reason is. I think the reason why casino needs license is because it is a requirement when you want to run a casino and also bitcoin can be sold for fiat. So, if I deposit bitcoin to the casino then it should be like this btc - casino, btc to fiat - your casino account even though you it's bitcoin. Anyway, that's how I think why they need license which is also ti avoid people use their casino as a platform to launder money.