Topic: Why they need a license if bitcon is not money? - page 11. (Read 4559 times)

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 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.

When cryptocurrency casinos were first introduced, there was no KYC or anything like that, no one had to verify their identity before they could access certain features in a platform such as making large deposits or withdrawals or participating in certain events. You could deposit any amount you wished or withdraw any amount no matter how large, and it would get processed in a matter of minutes. However, over time, due to regulatory pressure, rules such as KYC and AML started popping up. Casinos were asked to acquire licenses to operate.

The licensing part isn't very bad in my opinion, because platforms that are registered with authorities would have a lower possibility of scamming its customers and run away with their funds, which isn't the case with unregistered and unregulated casinos these days.

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.

but in the end it is the casino that keeps following the government requirements or else they
will be bugged and that means Government will  always succeed and will benefits from everything about this .
and in the end the gamblers will be the affected party in this situation.

The gambling without license could have been the best because most of them would have been non KYC gambling casinos and they won't require KYC informations from us as well as seing them not regulated by the government since they are not having any license to back that up,  but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

but in the end it is the casino that keeps following the government requirements or else they
will be bugged and that means Government will  always succeed and will benefits from everything about this .
and in the end the gamblers will be the affected party in this situation.

I must say that I am happy to read from you about the fairness between the government's actions and the clamouring for the privacy of people. Most people thought this was wrong before and it was as if I was the only one who supported more regulation for a sane society. Privacy/anonymity as we see it will harbour more evil than good, fine, we want to be on our own and do everything as we like without anyone knowing and questioning, but have we thought about giving those rights to the bad and wicked fellas in that sense? That will make the world to be in grave danger.

The heart of a lot of people are wickedly wicked, so letting their wishes happen in terms of privacy and anonymity will make their bad intention escape undetected and unchallenged and cause irreparable danger in some cases. The government can't fold their arm to allow that to happen and I believe that the responsible world citizen should support the government in this area for the good of all. It's good that we already have cryptocurrency and it has come with its benefits as well which the government cannot take from us anymore. But letting the users of cryptocurrency be accountable is not too much to ask for in my opinion, and whether we like it or not, there would have to be enough stricter regulation in the coming years.

As for the m!xers, I still wish the government could be thorough about this to abolish it entirely. It is a menace in our society and you can see the evil they've used some to perpetrate. This is currently happening even as the government are doing their best to limit the illicit flows and the negative effect on the society.

Actually I was thinking is what do really the license stands ? because even those licensed casinos that turns scammers seems to be not putting behind bars and the issues was just being forgotten like it is never happened .
so for me either the casino is not licensed as long as it is serving gamblers here? then I see no problem trusting them at all.

When this has reached a critical mass in dollar terms, then of course the government will become interested in this issue. Another thing is that each country has its own regulation and some do not have clear rules, so this business will either choose where these rules exist and pay taxes, or register in a country where there is no clear regulation and will be at risk of closure. To be honest, I don’t like the 2nd option, but there are also quite a lot of such casinos, but it’s better for them not to scale because if there is a fall, it will be very loud.

If I were asked this question about a license, I would answer that it has the characteristics of money, but is not money. The casino functions very well and works with Bitcoin and other cryptocurrencies, it turns out that everything works here like clockwork, except taxes. We come to the conclusion that this needs to be regulated in some special way.

but in the end it is the casino that keeps following the government requirements or else they
will be bugged and that means Government will  always succeed and will benefits from everything about this .
and in the end the gamblers will be the affected party in this situation.

In theory, the government is actually everyone in the sense that money evaded from the governments does not get spent in the general interest of people so governments tend to prevent anything that escapes their financial control so dealing with crypto or casinos is the same: make sure you get money while making sure there is enough incentive to keep the business going.

even those licensed casino , all we need is trust because we are entrusting our details to them.

       -    Overall, for me, Bitcoin is money, not directly money, but it can be exchanged for money. Why? because it has the same value as gold. It's not even touched, but it can still be exchanged for fiat, so how can we say that it's not money? The logic is very simple: if he is not money, that means he is fake money, right? And fake money has no value, right?

Now tell me, is it true that Bitcoin is not money? because if others say that it is not money, it means that Bitcoin has no value, but in reality, a Bitcoin plays at 69 000 to 70 000 dollars. Is this the fake money with value that they say is not money? This is just my point.

we all hates KYC specially when dealing in new casinos but when it comes to our trusted one then we should not feel bad at all because we can generate trust in them that our KYC will be safe.

The gambling without license could have been the best because most of them would have been non KYC gambling casinos and they won't require KYC informations from us as well as seing them not regulated by the government

since they are not having any license to back that up,  but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

If a business can provide the government with the opportunity to collect taxes, the government will enforce the regulations. The government will ask business owners to carry out KYC on business members. Apart from taxes, the government must also check the flow of funds from the business.

This is to ensure that no one violates the regulations implemented by the government. And now, as crypto gambling grows in popularity, governments are getting curious. The government wants to know how much money there is in this crypto gambling business. That's also what made the government regulate KYC in crypto casinos.

There may be other reasons we don't know because we are not part of that government. Even if we are government members, we can not explain in more detail.

I think government play a very big role in the trusting aspect  as a non licenced casino  shouldn't  require. kyc registration  for it users( the gamblers) or maybe we could just have this registered casinos without  having  to undergo the kyc process leaving almost all gamblers as anonymous  (although not too anonymous) as they aren't going deep into kyc but with these some might still want to  do some illegal stuffs  so I think government  is actually  monitoring  the inflow of the money just like they wanted to monitor mixers