Why they need a license if bitcon is not money? - page 17.

EarnOnVictor

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Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

I often call Bitcoin money because it is and can do whatever fiat money can do, unless for the physical cash which I believe we are still getting to with time where one can just scan it to know the authenticity of it and the value therein. Bitcoin has done enough for humanity, especially for the less privileged countries, it did more than what fiat could do, so it is money and has all those characteristics that money has.

Still, you seem not to understand what the OP is trying to drive out here. He only believes that since Bitcoin is not structured like the usual fiat money such should be excluded from all the government palavers like registering, licencing and regulations that are attributed to the companies that are dealing with fiats. But he forgot that even if the companies dealing with Bitcoin can do anything hidden with Bitcoin online, they can't operate hidden when they are in a country and offering their services to at least the citizens of that country.

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Quote from: blckhawk on January 26, 2024, 03:08:37 AM

For me, it's probably the appeal of legitimacy in the eyes of the government because if you look clean and legitimate and the government recognizes you then the people would be easy on you and they're comfortable because they know that you're a casino that's not going to cheat their players and that you'll not hold back on your word. Another reason is probably the crypto laws in the countries that the casinos originated from or they still probably convert their profits in fiat so they end up having to pay the tax department of their country, also it's unfair to build a uncertified casino because it's all going to be profit for you and the gap of the profit to your monthly expenditures is just so wide that the government can't just ignore them without having a piece of their pie.

We all get the regulation, the legitimacy and the taxation part of the licensing when comes to casinos, specially those who deal with FIAT and have physical establishments/headquarters in the real world. But the point of OP is trying to do is how Bitcoin is not considered money by many governments and yet those same governments demand licensing and regulation from the same casinos (which only deal with volume of Bitcoin).
Let us out it this way: what about if you opened a casino but in your casino people do not gamble using neither cryptocurrency nor FiAT, but something which is not considered to be money, like peanuts, people first laugh at you but with time your casino is a success and you start to win millions of dollars in peanuts (or whatever commodity/good you want to apply to this example). Since those earnings you are betting are not money according to the government. Is that some government in their right by asking you to get a license and audit your casino?
It sounds like a contradiction, but to me it is pride from not waiting to admit they were wrong from the beginning about Bitcoin and the Blockchain technology as a medium to transmit value.

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Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

Well, I think that bitcoin not being money, and bitcoin existing or not existing are completely two different things, so, in essence, if bitcoin was not money, but it existed, then there is stil the possiblity that we or many of us will be here for whatever purpose bitcoin serves, for if it was not serving the money purpose, then there must be another purpose to which it exists or was created, and if the creator builds a community platform like this for bitcoin, as many of us that share or are interested in that purpose will definitely be here.

For example, it's like, different brands of mobile phones, different brands of personal computers, other gadgets like headphones, earpods, television, home theater and so on, all this things plus many more, I do not consider them to be money, and I am sure you do not see them as money too, but if you search the internet properly you will discover they all have their different communities where they discuss the features and abilities of different versions, models, and updates of those products respectively.

So, if bitcoin was not money, and bitcointalk as a forum exists, hell yeah people who are interested in the purpose or product behind bitcoin, will be here for sure.

arwin100

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Quote from: Russlenat on January 26, 2024, 04:10:27 AM

Quote from: Reatim on January 26, 2024, 03:52:42 AM

Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

bitcoin is a money in digital form and that is what I do believe and learn over the years so yeah it is not that to made confusions .
and you are also correct that if this is not a money so why are we talking about this still now so stop of the complain about this.
and Licensing is jus a form of government to make money so its given already.

I think the take that "bitcoin is not money" from the government happened a long time ago. They are freezing bitcoins and keep it. Now they are encouraging operators to get a license, or will pay the hefty penalty. In short, they are treating it like a fiat casino business as major rules are applied in crypto casino as well. There's no argument in this thing, the world evolve, crypto grow and therefore changes happened.

Somehow we can expect this to happen since aside from taking money from those operators they also want to minimize the money laundering happening using crypto that's why they urge those operators to get a license so that they can possibly control these event track those possible criminals still using these casino to wash their money. This happen before so I guess there are still like this happening even though there are other methods exist. Overall government still have control on what we want to do on crypto space so if they want to regulate something this shows that nothing can stop them since they have the power to stop or to regulate those businesses exist in that industry.

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Quote from: Reatim on January 26, 2024, 03:52:42 AM

Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

bitcoin is a money in digital form and that is what I do believe and learn over the years so yeah it is not that to made confusions .
and you are also correct that if this is not a money so why are we talking about this still now so stop of the complain about this.
and Licensing is jus a form of government to make money so its given already.

I think the take that "bitcoin is not money" from the government happened a long time ago. They are freezing bitcoins and keep it. Now they are encouraging operators to get a license, or will pay the hefty penalty. In short, they are treating it like a fiat casino business as major rules are applied in crypto casino as well. There's no argument in this thing, the world evolve, crypto grow and therefore changes happened.

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Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

bitcoin is a money in digital form and that is what I do believe and learn over the years so yeah it is not that to made confusions .
and you are also correct that if this is not a money so why are we talking about this still now so stop of the complain about this.
and Licensing is jus a form of government to make money so its given already.

blckhawk

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For me, it's probably the appeal of legitimacy in the eyes of the government because if you look clean and legitimate and the government recognizes you then the people would be easy on you and they're comfortable because they know that you're a casino that's not going to cheat their players and that you'll not hold back on your word. Another reason is probably the crypto laws in the countries that the casinos originated from or they still probably convert their profits in fiat so they end up having to pay the tax department of their country, also it's unfair to build a uncertified casino because it's all going to be profit for you and the gap of the profit to your monthly expenditures is just so wide that the government can't just ignore them without having a piece of their pie.

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Quote from: bettercrypto on January 25, 2024, 08:47:39 PM

Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

That's right, that's what I think sometimes. If it's true what others say, that Bitcoin is not money, I hope there are no exchanges that appear in the crypto exchange or even in the stock exchange market that recognize and accept Bitcoin for trading activities.

Bitcoin is not money because Bitcoin does not have an original form in the real world and Bitcoin cannot yet become legal medium of exchange throughout the world like money.
But Bitcoin is technological innovation asset that is very valuable and Bitcoin has become one of the digital currency assets with the best value.
If you equate Bitcoin with money it will clearly be different but the value of Bitcoin will be much greater than fiat currency, the trading exchange is the place to carry out every trading transaction.
This will be the same as traditional market with cryptocurrency market, both are places where each currency can be spent.
It just that in crypto we cannot produce goods that can clearly be seen in general because this is digital asset which is quite supported by technological developments.

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So, it just means that others who think that bitcoin is not money are people who don't know anything about it, and if a license is needed, it also helps for the security of the communities that enter regulated businesses. .

It is clear that license is really needed because Bitcoin is not of small value, Bitcoin and cryptocurrency have involved many users with very large value turnover.
This will guarantee the security and comfort of every crypto user, especially Bitcoin, we exchange money into digital assets and we will need security to protect it so we will only use exchanges or platforms that are officially registered.

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Quote from: bettercrypto on January 25, 2024, 08:47:39 PM

Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

That's right, that's what I think sometimes. If it's true what others say, that Bitcoin is not money, I hope there are no exchanges that appear in the crypto exchange or even in the stock exchange market that recognize and accept Bitcoin for trading activities.

why so? why not let Bitcoin recognized as trading material mate are you against crypto adoption? because the way you posted this sounds that you are not supporting this to be a trading use.

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So, it just means that others who think that bitcoin is not money are people who don't know anything about it, and if a license is needed, it also helps for the security of the communities that enter regulated businesses. .

Bitcoin isn't money but a digital currency because when you call Money it should be physical and since this is digitally use I believe it may be called currency.

bettercrypto

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Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

That's right, that's what I think sometimes. If it's true what others say, that Bitcoin is not money, I hope there are no exchanges that appear in the crypto exchange or even in the stock exchange market that recognize and accept Bitcoin for trading activities.

So, it just means that others who think that bitcoin is not money are people who don't know anything about it, and if a license is needed, it also helps for the security of the communities that enter regulated businesses. .

Wiwo

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Quote from: bakasabo on January 21, 2024, 09:36:57 AM

Why casinos have license even though bitcoin is not money? Because the casinos pay taxes, have employees that work legally. Imho these are two main reasons why there is a license. There might be a possibility, that license is only needed for reputation, for casino to show users they are not going to scam.

Well what most persons falls to note is that, casino is not all about bitcoin, or cryptocurrency who does not need license to be used, but casinos are business entities that operates under the guidelines of the law and will always act inline with that to secure their own business so for that, when the authorities comes for them, they will have to put everything in place to act accordingly and also being able make everything available to meet up with the demands of the law, this is why we have seen many of them that act according to regulations and it inputs on them, when we have chances to separate the fact and true nature of decentralisation Vs centralisation and in this regards, we have to note the place of the law and licensing for the casino.

So for a centralised casino, there most be a need to present an operational guidelines and procedures that give them the chance to act within the law and and also according to the outline in the licensing of the casino and what the tend and stand to gain and lose at the same time this is very important for the casino to be able to meet legal requirements.

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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.

Because the government only wants control and taxes. They absolutely cannot handle the fact that they cannot control cryptocurrencies so they go after the centralized parties (in this case; gambling casinos). Their methods of scaring the centralized parties into obeying their every word are two-faced and unjust. At some point, the government will have to give up and give back control to the people. Everything else is just temporary mental gymnastics.

I agree that gambling needs freedom. But that requires decentralized platforms. Ones that are truly decentralized and cannot be touched by the government. I am not sure if the current state of development of web3 casinos can hold a candle to traditional web2 casinos. If they even exist. From my experience, many casinos claiming to be decentralized are not actually so. And they just call themselves decentralized for marketing reasons.

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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.

Well said, although these sites may not provide as many games to gamble as other sites yet they are truly non KYC sites.
It's good to have such non KYC gambling sites. On the other hand, while bitcoin may not have been accepted by many governments yet but they are starting to.

mak013

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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.

Let`s be honest, you don`t get Bitcoin for free. The gold is not money too, but it has some cost. As the result we use for gambling something that costs money, they need to control it.
PS. I don`t believe in license. I think that license for casino is a fake - i`m sure that license can`t help gamblers when they have some problems with casino. But Bitcoin costs money.

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Quote from: Dunamisx on January 24, 2024, 04:59:12 PM

If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

Bitcoin is an alternative to money but many governments are afraid to legalize it in their country even if they believe in it. This is why the op expressed such anger. And site licenses carry the identity of a site's team. And when a casino site gets a status that they are licensed, the casino business is one step ahead of the competition. Because gamblers are attracted to sites that are reputable and licensed. Some governments do not accept Bitcoin as money, but gamblers trust crypto as money. So gamblers must look for licensed sites for their own safety

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If Bitcoin is not money, what would have been the fate of the exchanges, how either will the gambling platforms accept bitcoin for use or crypto, I don't even think we would have been all here making discussions like this and lastly, having an avenue to participate online gambling platforms would have been so tiring and frustrating to many of us if we are not having alternative to it.

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Quote from: AmoreJaz on January 24, 2024, 04:10:50 PM

Quote from: blockman on January 24, 2024, 02:34:29 PM

It makes sense but standards from users and governments are changing that fast. Even if we as a community, don't actually need to rely on these licenses and things for compliance. A casino needs to secure it for themselves and not for us so that they'll be legally operating. As much as they want it to be, I guess that it's also a preference on their end. While for us, whichever we prefer as long as those basics you've mentioned are being met then that doesn't play a big deal at all. But when someone who's known and reputed prefers to go into a casino saying things that they should be licensed, I think that makes an impact to the audience that follows those people and will make that opinion as if it's the standard.

the sentiment over crypto-related businesses is changing. as users are trying not to get duped by fraudsters, they are looking for options on not to get wrecked by these scammers. hence, one way is to check if the casino is licensed or not. but if you happen to know the site long time or has proven good history even if they are not licensed, you can also play with them. after all, how many cases have you seen that someone is truly suing a casino because of not releasing their funds?

Yeah, it becomes a measure for many of us not to get scammed and having a license is like being registered and serious with the business. Because for them to acquire it, there are certain requirements and they have to spend money for it. But, that doesn't mean as well that the unregistered ones are likely scams as mentioned by OP, many of the known and reputable casinos in the crypto gambling community don't have a license. And it also doesn't mean that a licensed casino won't play bad behavior or won't be a scam casino.

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Quote from: blockman on January 24, 2024, 02:34:29 PM

It makes sense but standards from users and governments are changing that fast. Even if we as a community, don't actually need to rely on these licenses and things for compliance. A casino needs to secure it for themselves and not for us so that they'll be legally operating. As much as they want it to be, I guess that it's also a preference on their end. While for us, whichever we prefer as long as those basics you've mentioned are being met then that doesn't play a big deal at all. But when someone who's known and reputed prefers to go into a casino saying things that they should be licensed, I think that makes an impact to the audience that follows those people and will make that opinion as if it's the standard.

the sentiment over crypto-related businesses is changing. as users are trying not to get duped by fraudsters, they are looking for options on not to get wrecked by these scammers. hence, one way is to check if the casino is licensed or not. but if you happen to know the site long time or has proven good history even if they are not licensed, you can also play with them. after all, how many cases have you seen that someone is truly suing a casino because of not releasing their funds?

Quote from: dothebeats on January 22, 2024, 09:23:43 AM

Those that operate til now without licenses are in the game for years, and basically they don't need any piece of paper from any governments to appear legitimate. These new casinos getting licenses on Caribbean tax havens are doing so because they want to appear 'legally compliant' and make it look like they are not going to run with your funds because they are licensed. At the end of the day though, it's still a matter of choice on whether to play on unlicensed casinos or not.

There are a lot of licensed casinos out there that can't still serve lots of countries. Roll Eyes

in this forum alone, you can already see several unlicensed casinos and yet, they are still doing their business. at the end of the day, one important factor to consider is the reputation built throughout the years. so if they don't have existing valid complaints, usually, they can gain loyal patrons on their site.

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

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.

Why are you listing 'em casinos?? Isn't this just a way to create an awareness about them to everyone else? Including the gambling operational services like ...GCB, NLRC etc? Just asking anyways.

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

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

The governs are just exercising their sovereignty and there's little to what you can do in this situation... maybe apart from protesting?? Lol.. all they need is full accessibility into people's wallet, acc balances, transaction history etc... I don't know why but something tells them that monitoring individual funds is a way to mop out inflation...

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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?

Yes, ... That should make you understand why we've got grades and classes between other citizens..

Sandra 🧑‍🦰

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

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.

Or have a real crypto gambling firm that could offer licenses just for crypto, to make it more regulated. It doesn't mean it's not important but for those gamblers who wants it, it sure is important. To be honest, people still have that narrative to ask, "do you have a license somewhere?" even in this very forum. And, hands down to those crypto casinos that get huge without it, totally fascinating.

Topic: Why they need a license if bitcon is not money? - page 17. (Read 4444 times)