Topic: Why they need a license if bitcon is not money? - page 21. (Read 4557 times)
Licence needs to save the funds of their users too. If any gambling site has no licence and once becomes reputed or gets a good number of deposits/losers then it may stop their business easily. And on the same time they avoid paying the winnings of their users. So, licences need to protect the funds of their users.
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?
Well, I agree with you... Crypto should be free for all, without geo and other kind of restrictions. And I believe that some part of crypto (I am not sure how big that part can and will be) will stay like that and will represent some freedom.
I think you already answered your question from the headline. Curacao and many other governments just wish to make more money... everything is taxed and regulated, so can we expect them to let crypto alone? I don't think so... what we can do is to try to avoid some regulations as much as we can, but as it seems that becomes harder every year.
I think it's a matter of appearances, not whether Bitcoin is money or not. So they have a legal facade despite doing dubious things. There are casinos that have KYC limits in their ToS to which they turn a blind eye, especially while you are still losing, or that have a list of countries from which you cannot play but if you access the casino from those countries without VPN they also turn a blind eye, especially while you are losing.
A Curacao license is not a very prestigious thing either.
A Curacao license is not a very prestigious thing either.
That's how the world is run, by making people feel like there's laws they have to uphold, but in reality all these laws are made by people who run the show for other people who run the show.
For example, you a small gambler, have to undergo KYC when you try to withdraw $500, which is even below the minimum that can be flagged by banks. Like in the EU they will not even care about anything below 1k EUR, which is like 1.1k USD, so banks won't care, governments won't care, but a casino will. Why? Because your personal data is worth more than $500, which is why many companies will pay you for referrals, provided that the other person goes through KYC. They don't care if you make them money as long as you bring real traffic and personal data for the company because that database boosts value of the company.
I never sell my data and I never do KYC. KYC enforced on small transaction is abusive.
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.
Unfortunately governments always look to step in in any way they can. It's only going to get worse and worse for the crypto user I think. Governments are going to look for more and more control and make sure they get their piece of the pie.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.
Could be worse man and there be no online gambling at all. How can we improve and take control away from the governments?
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, 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.
Having your KYC activated its a great chance of making deposits and withdrawals,so definitely no need for a license.
Cause with this you can make deposits in casinos without stress.
The govt. thinks they are trying to make things worse,but they dont know there are multiple means to achieve the target rather than license.
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, 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.
And in a perfect world you would be free to do whatever with your money, but there is to much drug and weapons dealing money around and even if it is not cash, it would be just too easy for the site, the owner and most importantly any bank they potentially use to join the list of sanctioned entities. That is something most people simply will not risk. Too life-changing.
In the cryptocurrency world, it is only the smart governments make millions and billions from it and not the so call wise ones. They think they are wise do they see cryptocurrency as bad omen to their economy and citizens. And with that many place restrictions and ban them in their countries but later discovered that cryptocurrency is not what they think but to give them financial freedom. So many are coming back again but for those who were smart enough to adopt the digital currency have made enough money from it. And this Curaçao is really making money, that is cool money from gambling through their issuing of the gambling license to casinos. And almost all the casinos I have seen, their license is from Curaçao. That is a smart game they have played.
Well, I am not against casinos obtaining a license to operate, but what I have always wanted to know for sure is what does the licence do exactly?
Many a times, I see some gamblers advising other gamblers against playing on casino without licence, as such casinos may likely be a scam in pending, but still on several occasions, we have witnessed casinos with license shut down and ran away with money belonging to their users, and the issuer of their license did nothing to make sure that users get their hard earned money back, what then is the use or benefit of a licenced casino to gamblers.
Some say that when a player have issues with a casino, he or she could report to the issuer of their license for such casino to be properly sanctions, but never for once have I ever heard or seen that a license issuer sanctioned a casino for their misconduct towards a gambler or gamblers, again, I asked, what exactly is the benefit of licensed casinos to gamblers?
I myself don't exactly know but my guess is casino who has license is the proof that the casino is under the influence of the law and they can be punished if they didn't abide the law where they got their license from. This somehow put a trust on a gamblers heart by trusting them knowing that the casino owners can be subject to jail if they didn't abide the law or for short scamming the gamblers. It is a "certificate" that the casino shows as a proof of their legitimacy, though I doubt it since there are casinos who scammed people even they posses one of these gambling license. Many a times, I see some gamblers advising other gamblers against playing on casino without licence, as such casinos may likely be a scam in pending, but still on several occasions, we have witnessed casinos with license shut down and ran away with money belonging to their users, and the issuer of their license did nothing to make sure that users get their hard earned money back, what then is the use or benefit of a licenced casino to gamblers.
Some say that when a player have issues with a casino, he or she could report to the issuer of their license for such casino to be properly sanctions, but never for once have I ever heard or seen that a license issuer sanctioned a casino for their misconduct towards a gambler or gamblers, again, I asked, what exactly is the benefit of licensed casinos to gamblers?
Well, I am not against casinos obtaining a license to operate, but what I have always wanted to know for sure is what does the licence do exactly?
Many a times, I see some gamblers advising other gamblers against playing on casino without licence, as such casinos may likely be a scam in pending, but still on several occasions, we have witnessed casinos with license shut down and ran away with money belonging to their users, and the issuer of their license did nothing to make sure that users get their hard earned money back, what then is the use or benefit of a licenced casino to gamblers.
Some say that when a player have issues with a casino, he or she could report to the issuer of their license for such casino to be properly sanctions, but never for once have I ever heard or seen that a license issuer sanctioned a casino for their misconduct towards a gambler or gamblers, again, I asked, what exactly is the benefit of licensed casinos to gamblers?
I myself don't exactly know but my guess is casino who has license is the proof that the casino is under the influence of the law and they can be punished if they didn't abide the law where they got their license from. This somehow put a trust on a gamblers heart by trusting them knowing that the casino owners can be subject to jail if they didn't abide the law or for short scamming the gamblers. It is a "certificate" that the casino shows as a proof of their legitimacy, though I doubt it since there are casinos who scammed people even they posses one of these gambling license. Many a times, I see some gamblers advising other gamblers against playing on casino without licence, as such casinos may likely be a scam in pending, but still on several occasions, we have witnessed casinos with license shut down and ran away with money belonging to their users, and the issuer of their license did nothing to make sure that users get their hard earned money back, what then is the use or benefit of a licenced casino to gamblers.
Some say that when a player have issues with a casino, he or she could report to the issuer of their license for such casino to be properly sanctions, but never for once have I ever heard or seen that a license issuer sanctioned a casino for their misconduct towards a gambler or gamblers, again, I asked, what exactly is the benefit of licensed casinos to gamblers?
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.
When a crypto casino comes online it is usable globally and not all countries have bitcoin as illegal there are many countries where bitcoin is legal and the country from which a crypto casino site is operated must have crypto legal and people from that country must be gambling Play and this is why casino sites require a license. It is the private problem of the country where crypto is not legalized so rest of the countries will be in danger for that country how come. This is why casinocytes require lyases. And the most important thing is that if you see that a site does not have a license then you yourself will not be interested in gambling there. So it is also an important factor to attract gamblers. And sites willingly license it for that too 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, If you can deposit, wager, and withdraw. I don't see where the license is in the process...
You should know governments not today, they try to regulate anything even if at it's best performance, this same thing ha e been what they have already wage war against bitcoin to discourage many people from using it, they would want to have control and be in charge, then determine the rate they get through regulations and people under centralized institutions can't escape them, I don't know if this same is really applicable to no KYC gambling platforms.
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It's right that there is a debate about whether Bitcoin is money or not. But in the end, Bitcoin is considered as money we know. On the other hand, Bitcoin casino requires a Licence for many reasons. For example, Player protection, Prevention of AML(Anti Money Laundering), Responsible and fair gambling, to gain player trust, etc.
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I would like point out that the sites that OP mentioned are also the few casinos out there who are offering the Investment schemes. No other casino not even the biggest one out there Stake.com offers a investment scheme while if they did huge number of investors would have flocked in and would be willing to lend their money to the site.
I guess KYC and government crackdown on casinos is hard and who knows when these sites will get stopped by governments and their outdated policies? After all these sites are owned by humans and they have families to take care of, none want to end up in legal troubles.
Well, I do not have a clear and detailed understanding of how licensing works, but my major problem with it is that, it does not benefit the common gambler out there, license was supposed to act as a prove that a casino well established and known, and have zero chances of absconding with users money, but this happens not to be the case judging from what we all have seen happen in the past.I guess KYC and government crackdown on casinos is hard and who knows when these sites will get stopped by governments and their outdated policies? After all these sites are owned by humans and they have families to take care of, none want to end up in legal troubles.
I am particularly not against licensing though, I mean, if it allows a casinos become limitless in their operation and reach, then why not? Every casino that dreams to become very big in the future should definitely obtain a license, so they won't have to start facing sanctions here and there for not having the required license to operate on some certain jurisdictions and areas.
But if at all, casinos don't need it to become big, then I wonder why having a license have become a major criteria in running a successful gambling casino.
I would like point out that the sites that OP mentioned are also the few casinos out there who are offering the Investment schemes. No other casino not even the biggest one out there Stake.com offers a investment scheme while if they did huge number of investors would have flocked in and would be willing to lend their money to the site.
I guess KYC and government crackdown on casinos is hard and who knows when these sites will get stopped by governments and their outdated policies? After all these sites are owned by humans and they have families to take care of, none want to end up in legal troubles.
I guess KYC and government crackdown on casinos is hard and who knows when these sites will get stopped by governments and their outdated policies? After all these sites are owned by humans and they have families to take care of, none want to end up in legal troubles.
I doubt government will cooperate to Curacao to properly regulate casino that being use by their citizens. This kind of license of Curacao will only make sense to me if they have offices on all the country which their license is applicable because it’s very hard to be in touch with them if you have a problem on a casino with their license while you have a intercontinental distance barrier.
If the government feels that they are losing money in the form of tax or if there are reports of too many scams then only the government would respond. Why would they have offices globally, many countries do not allow gambling as it is illegal. The next point is why would they when they are enjoying without even trying to practically implement their license law strictly? It is a win-win situation for them and I don't think they will change their policy ever. It is again a win-win situation for those casinos who want to scam their users and a win-win situation for those casinos who don't want strict regulations.
They will be held accountable regarding on those scam casino registered on their country but so far didn't heard any action regarding on those past scams happen and maybe they are not actually doing anything regarding on online casino scams happening since their main intention is to get revenue coming from those casino who want to get license in their country. Offices might hard to implement since for sure there's lot of things need to be done before this to happen but what's important their is they create some changes and make licensing hard to get by foreign companies. Scams is there and they just need to have strict solutions regarding on those activities so that they can avoid being question and people will still have impression that curacao license still a relevant requirements to have.
I think government sees bitcoin as money. Because if they don't, the massive amount bitcoins they had confiscated before would not be up for sale or auction, they would just destroy it easily. They gain from the bitcoins they seize, right? so bitcoin is money for them.
License is important because that will minimize the scam in the crypto space, of course no gambler would risk their money without confidence on the gambling site they are betting. The game now is not just about license alone, but it's already a must that a gambling site both have good reputation and are licensed by whoever provider it is.
License is important because that will minimize the scam in the crypto space, of course no gambler would risk their money without confidence on the gambling site they are betting. The game now is not just about license alone, but it's already a must that a gambling site both have good reputation and are licensed by whoever provider it is.
But who said license is a matter for crypto casino? I never said that, but most users did.
That's why when judging a new crypto casino, there's no need to take a look with license and ask them to get it. As long as you feel something suspicious like copy pasting other casinos, the bonus is too good to be true, and offer something not make senses, those are signs if the casino is high likely scam.
That's why when judging a new crypto casino, there's no need to take a look with license and ask them to get it. As long as you feel something suspicious like copy pasting other casinos, the bonus is too good to be true, and offer something not make senses, those are signs if the casino is high likely scam.
There is an important point that everyone should understand about licensed casinos. We all know that the authorities' purpose in imposing obtaining licenses is first to make the casino company subject to tax, which is determined according to the number of transactions and revenue percentages. As well as imposing control on the financial activities of users, who in turn will become subject to tax according to the same principle.
But there is a point that concerns us as users, which is ensuring the reliability of the casino because obtaining licenses requires following legal procedures. This also guarantees the user’s right to file a lawsuit against the casino in the event of suspicions. Licensed casinos are subject to supervision and can be held accountable by the authorities whenever necessary. This guarantees the rights of users to sue and demand minimum rights.
But there is a point that concerns us as users, which is ensuring the reliability of the casino because obtaining licenses requires following legal procedures. This also guarantees the user’s right to file a lawsuit against the casino in the event of suspicions. Licensed casinos are subject to supervision and can be held accountable by the authorities whenever necessary. This guarantees the rights of users to sue and demand minimum rights.
If the casino is going to be only a crypto base casino, then I think it can operate licence-free as there is no need for any form of registration or restriction as crypto is the only thing that is required to use, deposit, and withdraw, which was how crypto casinos were supposed to be in the first place, and they have been operating that way until now.
When scamming is taking over the casino industry, the only way people can still feel a little safe in the hands of those crypto casinos is if they are under a regulatory body that the people can run to in case of any misconduct or suspicious scam attempt by the casino operators. This is one of the reasons why licences have been made necessary for almost all casinos active currently. You don't know which one to trust and which one not to trust.
When scamming is taking over the casino industry, the only way people can still feel a little safe in the hands of those crypto casinos is if they are under a regulatory body that the people can run to in case of any misconduct or suspicious scam attempt by the casino operators. This is one of the reasons why licences have been made necessary for almost all casinos active currently. You don't know which one to trust and which one not to trust.
I doubt government will cooperate to Curacao to properly regulate casino that being use by their citizens. This kind of license of Curacao will only make sense to me if they have offices on all the country which their license is applicable because it’s very hard to be in touch with them if you have a problem on a casino with their license while you have a intercontinental distance barrier.
If the government feels that they are losing money in the form of tax or if there are reports of too many scams then only the government would respond. Why would they have offices globally, many countries do not allow gambling as it is illegal. The next point is why would they when they are enjoying without even trying to practically implement their license law strictly? It is a win-win situation for them and I don't think they will change their policy ever. It is again a win-win situation for those casinos who want to scam their users and a win-win situation for those casinos who don't want strict regulations.
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