Topic: Why they need a license if bitcon is not money? - page 9. (Read 4557 times)

That sounds pretty bad outside cryptos but since we are here in crypto, I think it is only fine. If cryptos has advantages, it also has disadvantages and one of it is like that you said above. You are right about casinos with licenses and even if we say that most of them are trusted, they still can be weak in terms of other features. The decision of choosing a casino will only depend on us and we must take the consequences because not all casinos can have it all.

For me, I prefer the unlicensed one and I'm lucky that my experiences are all smooth. The good thing about playing in an unlicensed casino is it forces me to be extra careful, so I will only play with smaller amounts. That means, I can also lose less if I'm unlucky and I'm less prone to addictions.

I’m not sure if other countries have this law but we have a license dedicated for Cryptocurrencies services, either exchange, casino or anything that involved crypto services needs this specific license before they operate.

So even if Bitcoin is not considered as money, the giver is not blind to not see that cryptocurrency is backed by fiat currency which is money that’s why they have special license or bill that dedicated to regulate crypto services.

I don`t think that serious countries will accept BTC. They have their fiat money and it is enough for all purposes.
Taxes we get on the profit. And i don`t think that someone get a bill with BTC in it. No, we got taxes in fiat money. I don`t like it but it is correct - when you get any profit - you pay taxes.

I don't think i can also make use of a casino gambling platform that is not licensed, this means that they are operating under no regulation atmosphere and there is nothing that one can use in tracing them in case of anything happens and they take away our money or the website remain inaccessible, nevertheless, we should also not conclude that having license is a means of proof that we should rely and trust in any random gambling website, we need to further more on making research about them.

I didn't get you correctly due to the poor English, or perhaps you forgot to read and make corrections. Notwithstanding, did you mean you support the licenced ones or what? If yes, you've made the right bargain, but it is not an automatic endorsement of sincerity or serving you right. You might do yourself a better favour to actually verify them well if you can go through the stress, though it is not necessary. Some do this because many of these so-called licenced casinos are not actually licensed, it is a pure lie, and since they are using the pretended licenced numbers of weak regulators, that will continue to go unabated since those regulators will not even search for sanctions or to issue public warning.

Also, I love the remark that you eventually made here in relation to Bitcoin talk. Though, they can't entirely be trusted, but some of the casinos that are not licenced but advertised and vouched for here delivered so well since there were little or no complaints at least from Bitcointalk members. But like I said, it is not all of them and there are a few of them that people were unable to get their money from. So, serious care is needed here to avoid issues as well.

You might be right. However we can't deny that nowadays having a license is one of the few factors to say that the casino is legit. Although it doesn't necessarily mean they're not going to be a shady platform that can scam their players.

Anyway, even here the Government is not really into Bitcoin and still warned the citizens to be careful since it's an speculative asset. But they're requiring these crypto casinos to have a license. They just can't admit that crypto or Bitcoin to be a specific also works as fiat though it doesn't have a physical feature.

What he said is bullshit. As you said, countries often block access to these types of rooms, especially those that require a specific license to operate in the country. What happens is that they do not have control of all the rooms, and if a new one comes out today, it will take some time before they have news and block it. On the other hand, the blocking can be skipped. And the people who gamble in those cryptocurrency casinos with respect to the total who play in licensed casinos in the country are a tiny minority.

The problem here is that government cannot regulate bitcoin, though they have the control to regulate other crypto but not with bitcoin being inclusive, gambling is accepted in many countries, likewise bitcoin is legal for use in many countries as well, the lack of control is what makes government to always fight against bitcoin, but time will make the difference, they will soon accept that they are the same working for and kicking against their take as well concerning bitcoin and gambling acceptability.

yet ?licensed or not? Bitcoin is needed to gamble though the title should be changed in CRYPTO instead of
gambling itself because online gambling now has tons of altcoins accepted than just bitcoin because for us? the
problem in this matter is that when bitcoin and ethereum had congestions and the fees are really increasing so high.

I don't think they necessarily allow it, but they have yet to find the time and effort to actually block them. In my country, a lot of overseas platforms related to illegal activity based on our national law are blocked, and the list is getting bigger. I don't think it is efficient nor it will stop people from finding or launching new services though, but the government definitely wants to stop such things from happening. Not sure how other countries tackle this issue, I don't think having a license from Curacao or other offshore countries will help their cases anyway.

I don't think that's the general sentiment on this forum though. IIRC, some people shared articles about existing casino licenses and how the users can verify the license themselves. I think that's what this license offers, not necessarily ensuring they don't scam you or something similar. I don't think a crypto-based business should rely on blind trust tbh.

Nowadays digital payment systems are very popular and also cryptocurrency is used for digital payment. Different countries make different decisions about cryptocurrency. Although Bitcoin does not accept legal money so many countries. But it has exchange value and is used also as an online casino platform. It is a very complex question Who uses Cryptocurrency should be licensed or not. Bitcoin licenses have good and bad effects carefully considering this topic. Regardless of the decision, it is important for individuals and businesses to stay informed about any applicable legal requirements and to use cryptocurrencies safely and legally. The license ensures trust and belief for its users.

In thiswe are different mate because I am more on trusting those site either licensed or not? but those who
has vouches here in forum, I mean there re lots of recommendation and  has an active representative in bitcoin talk
in which at least we have assurances that out issues will be adressed in rightful manner.

Yes, it is actually amazing that governments do not see Bitcoin (Crypto currencies) as legal tender, but they still allow casinos to operate. They know their own citizens are gambling on sites that are not licensed in their own country, but they still allow it.

In most countries, governments define Bitcoin (Crypto currencies) as a commodity, so it is not seen as a currency... but people still use it at a casino as a currency. (Someone is getting something to look the other way... right?)

Lol...I was just laughing reading your post. Scammers are everywhere and I do not think there is a country of the world that doesn't have scammers. The only difference is that the level, reason and expertise of scammers there vary. For me, real scammers are faceless people, they do not just want you to see or know them because their intentions are bad from the very start of their doing. You can take a hint from the crypto projects these days where some people would plan projects like developing cryptocurrency but all to scam people, and would disappear into thin air with time. The same thing goes for some m!xing services and other exchanges where their sole intention is to scam. They will just try to gain the attention of some customers and disappear after some success. We can also say of a few in casinos, many have been swindled by these scammers, and their intention to have created the business was just to scam people by disappearing with their money after a while.

Mind you, contrary to your opinion, these scammers could reside in the most lawful countries of the world like the US and EU, it doesn't matter. All they need to do is to conceal their identities, and even if you believe you know them or where they are, you are only deceiving yourself because all that they are identified with are FAKE. But some countries with weak laws may have enough cheaters that people often called scammers, that is why it is good we know the companies we deal with. Better still, the reputation of the company matters most and this is more reason why I love true licensing apart whether weak or not, after all, they (the company) made that move out of responsibility.

It's nonsense to talk about a country that doesn't allow things that can benefit that country, because many developed countries get their financial supplies from gambling or dirty things even though they can test all tax sources according to their wishes, there was a lot of opposition regarding Bitcoin at that time, but as time goes by  When the government actually imposes taxes on users who work as Bitcoin workers or the like, it doesn't seem fair, but they have an unreasonable rule, initially rejecting it, but instead turning to support the growth of Bitcoin when it has a very fantastic price, everything takes time, in any case, sometimes  many dramas are owned by the government without having to require a license if all of this is ignored by the regulators themselves.

Actually, the few has been mentioned, justdice, freebitco and bustadice.

Yeah, that's like how the business model of most that are just starting out. If they happen to get the success that they want for their start, they should get it.

It's because of the sense of safety that everyone think about having a license but it's not all about that at all when we dig deeper.

Hmm, sort of but I can compare them with dexes that needs to be regulated too.

Well bitcoin as a decentralised currency does not need the third party arrangement so for sure even though government may have a role to play in the usage of currency internally, that doesn't stop citizen's to hold bitcoin as an asset ls and exchangeble through p2p, this way bitcoin users remain anonymous.
Government acceptance only aid further regulations and taxations and also limitations which is what most bitcoin users are not cool with since they value they freedom.

You seem completely clueless about how the industry works and who is actually making billions of dollars. Curacao is just selling licenses and probably making in the tens of thousands a year per casino, they are not involved in channeling the casino money in any way and that is an entirely distinct part of the operation that they have zero influence over. None of the casinos are sending money through this tiny island in any format and the government there does not wash money as you strangely think. The license is way for these casinos to claim jurisdiction in one location so they are not susceptible to certain regulators in other countries, but your anger is certainly misguided and you should do more research before making bizarre claims like that.

Well, I agree that licence is no guarantee that casino could be trusted. However, it's some kind of guarantee that is paft of system or regulator that has certain mechanisms to monitor its business and even protect players so that you know that you can report irregularities, scam or similar. So I always feel more secure and protected with licensed casino and at least I don't have the feeling that  I'm part of something illegal.

The two casinos you pointed out here don't even have the characteristics of such scammers I pointed to above, they might have scammed a lot of people but still they are operating. Those I pictured are worse, and are true scammers, they are are practically no where, and they can't have that high scamming intention from the beginning and still be able to function to this level of the casinos you called. These scammers are big-term scammers, they are faceless, have no address, phone number, or nothing, they are just anonymous in everything and have planned it from the begining. But still, they come as a casino and people are gullibly registering, sending their details/data and sending their money to them.

Who won't know such are there all for the money they want to steal/scam? This is also what I fear most with the no-KYC casinos, they can easily hide under this to steal people's money and even data. Also, I've always said that asking for KYC is not a certain means to trust you, one should still do the thorough investigations. Howveer, the risk of dealing with a no-KYC casino is higher than that of dealing with the KYC casinos, because all what the no-KYC casinos claims it is may not be true since they are answerable to no one. But for the KYC casino that means business, it will easily get them exposed if they falsify their infomation.