would you play more on casino when your country plans to ban BTC? - page 8.

Cling18

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

In the event that Bitcoin becomes illegal in my country, I will be selling all of my Bitcoin holdings and temporarily moving them into a more secure asset. While I await the verdict, I will only use just a portion of it to gamble and trade. I'll continue to take the risk if I can find another way to make use of Bitcoin freely in the event that the ban is enacted, just like other nations that have faced bans but still managed to find a way to use it.
However, I still believe that Bitcoin will always be supported and continuously being adapted in our country so we're far from this struggle and that's what I'm grateful about. That's also the reason why it's a good thing that we're embracing good opportunities that Bitcoin could offer here.

Gozie51

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

These two are different, I mean crypto trading and online gambling. So you see different people involve in them differently and some people involve in both. For example if you are a trader, you may not know about online trading or you know both, so base on your question if I'm a trader and government plans to ban it then I will withdraw my coins from whatever exchange to my personal wallet and sell either through P2P or I can sell directly on the exchange, covert to local currency. But if I gamble online then it is easier, I can focus on online gambling and continue gambling since it is legal.

Cantsay

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

If something like this should happen in my country it would be a cue for me to say bye-bye to gambling.

I'm not sure in situations like this the casino would most likely implement the use credit/debit card deposit and would make KYC mandatory and might likely put a warning in their ToS concerning users from that crypto-banned country not to make use of crypto as a means of deposit. This is only if gambling activities are being monitored in that country.

But in reality, it's almost impossible to ban the use of crypto in a country because there will always be means in which citizens will get access to crypto and since they can access it it will be very easy to use in their gambling account. We have non-custodial wallet, we have exchanges that don't require KYC verification before you can use their P2P services, as long as you can get you coin into your wallet the reast would be easy-peasy.

SamReomo

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

If for any reason my country decides to ban crypto trading, I would withdraw my Bitcoin into my own wallet rather than gambling with those. I would spend few of them for gambling once in a while, but I won't risk all of them for gambling purposes. Although, gambling with crypto-currencies isn't a bad thing for those who have control over their emotions and earn more than losing, but I prefer to save mine in a wallet.

I'll hold my coins for longer period if the ban remains and once the ban is left I will exchange some of my Bitcoins into stable-coins and restart trading with those coins. I always prefer to trade with a stable-coin/BTC, because that way have been profitable for me. I will continue my trading in same way after the ban timing is over and my country where I resides allows trading of Bitcoin and crypto-currencies once again.

YOSHIE

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

These are two problems that are difficult to accumulate and consider one legal and one more prohibited, this is a challenge and a hard blow for gamblers what else for those who are heavily addicted, really a difficult choice.

However, if these two things happen, of course there must be other alternatives, of course the gambling industry will not remain silent, they will switch to fiat withdrawal and deposit methods, if crypto really has no solution to be traded again on exchanges or in gambling, of course we are still gambling using fiat, gambling without crypto.

Another solution, maybe we can ask for help from friends who are in countries where crypto and gambling are legal, to place bets at crypto casinos, because crypto and fiat can still be used through visas and so on, in short using third parties, friends who can be trusted, to gamble, friends send crypto to casino accounts, we send fiat to friends accounts, bet fixed.

smyslov

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

You cannot use a casino to accumulate Bitcoin, you will end up losing your Bitcoin casinos are not trading platforms where you have a chance to make a profit, in this scenario I will just withdraw my coins send it to my custodial wallet and wait for my government to change their stand, I will just fiat to gamble or maybe stop gambling since I only gamble occasionally.

asriloni

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

The question how long? Can you expect government to change their stance for a day, a few days. a week or even a year? No ETA for this. i will be going to play my coins whatever the consequence is. It's my money man.
I just remind you that if trading was not the same like gambling. Trading is not only about accumulating the tokens/coins.

There will always be loopholes. It's not i don't respect with regulation in my country but my main purpose for i have owned crypto was to trade, gambling or something else.
Glad to see that if my country was not harsh like china or US which were always suing the crypto developers.

bitzizzix

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Since that hasn't happened yet, my answer is the same as some of the people answering here. Gambling is a fun activity even though I am not an active gambler, and if crypto or bitcoin is strictly prohibited in my country of residence, I can still gamble using fiat and this is the same as gambling before there were methods of using crypto or bitcoin for betting. So there's no significant difference, unless both are banned, but there will always be ways to still use them if they do because there will be smart people looking for solutions as long as the internet exists.
and if crypto or bitcoin is strictly prohibited there is no option for me to send my crypto or bitcoin to a non-custodial wallet and wait for them to change their mind and it's like I do Hodl.
and this thread doesn't mind country differences or anything, and just wants to know what they think if that's the case.

macson

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

nothing to worry about this imo, i will continue to gamble with bitcoin ^{(without waiting for further instructions from the government)} even though the government of my country has banned it. anyway, banning crypto as a payment transaction, it is done mainly by governments in several countries but for banning crypto itself i see it is impossible. i'm sure there are many online gambling players who experience the same thing and continue to gamble with Bitcoin even though their country prohibits cryptocurrency from being there.

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

It is not a case that Bitcoin is legal or illegal in my country if online casinos are legalized then I would definitely be interested in gambling with Bitcoin there as there are various non custodial wallets to hold Bitcoins which are not regulated by the government in any way. so I can easily trade bitcoins there. But I don't think any country's government would decide to legalize online casinos while keeping Bitcoin illegal in any country. a sane government would always banned both online casinos and Bitcoin if it had to be banned.

Plaguedeath

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Not all online casinos are using cryptocurrency to gamble, you can still gamble with fiat. So if my country plan to ban Bitcoin, I'd choose to gamble using fiat. Remember using cryptocurrency to gamble when your country are ban Bitcoin, you're have a risk of going to jail or face a legal problem. All casinos aren't privacy oriented because they don't give a choice for their gambler to access their site in onion link.

BitcoinTurk

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

I voted for "not to play" in the poll because in such a case it would be my choice to cash-out my existing cryptocurrencies and not gamble illegally.

In such a case it should not be forgotten that if a legal act is brought by the country, if the gambling service used does not pay your money within this process it will not be possible to make a complaint about this situation in any way.

On the other hand, I think it will be important to be informed about how long this restriction process will last because if this is a temporary restriction it would not make much sense to gamble illegally during this temporary period. For this reason I think it would be a good option to make a decision especially depending on the type and reason of the restriction.

Frankolala

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As a gambler,I will assign little fraction of my bitcoin to my favorite casino where I do gamble,so that I can easily gamble whenever I feel like. But if trading is my means of earning a living, I will convert some of my bitcoin to cash,to enable me relocate to a bitcoin friendly country,if possible.

The rest of my bitcoin will be transferred to my noncustodial wallet where I can easily use it in a DEx,whenever I want to because I believe that the government wouldn't be able to identify or tracker users that are using bitcoin in a decentralized manner or way. Or better still I will keep my coins to myself as this will encourage me to go on a long term investment rather than a short investment like trading.

FatFork

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I don't see how one has to do with the other. If gambling is legal and something I enjoy, I will continue to play regardless of my country's stance on the Bitcoin cryptocurrency. The regulations surrounding Bitcoin and the legality of gambling are separate matters. As long as the casino permits players from my country and there are no specific restrictions, I can engage in gambling activities without any hindrance.

In that case, the main change would be the method I use to exchange cryptocurrency for my local fiat currency. If my country has restrictions or regulations on the use of Bitcoin, it will surely affect the availability of cryptocurrency exchanges or the ease of converting Bitcoin into my local currency. So I'll probably have to look into alternative exchange methods.

Fivestar4everMVP

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

Accumulate what? The same coins that are going to be banned? Thr thing actually is that for me, it does not matter what the government decide about crypto, I will always hold my coins, and also gamble if I want to, I will just avoid trading on centralized exchanges if those are banned too, there are already decentralized p2p platforms coming on board, that could do perfectly to help bypass the government's restrictions on crypto, but talking about gambling, I see no problem with that, I can't panic and gamble all my coins away because of ban, it makes no sense.

aioc

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

It's hard to do that if one of your habits is playing in casinos, old habits don't just die, if they ban Bitcoin there are still other casinos that accept fiat, so I will play at casinos that accept fiat and withdraw my Bitcoin and send it to my noncustodial wallet, I have to protect my Bitcoin lest the government find a way to confiscate it.

There's really no difference between playing with fiat and Bitcoin the most important is you protect your investment.

Russlenat

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

I would rather continue playing and cash out when lucky. The amount of Bitcoin I use for gambling is not substantial, so it's not a significant problem for me if I lose it. However, when it comes to investment, that's a different story. If crypto becomes illegal in our country, it would be difficult for me to hold onto it since exchanging it for fiat currency wouldn't be easy. But as they say, where there's a will, there's a way. Let's see what happens.

ryzaadit

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I think, is based on local-law.

In-case we are playing on online global casino not in local we still can play with "crypto" because there is no activity legal like gambling on phsycal casino that country ban these activity.

IMO, still can do these.

bitbollo

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obviously I would never put a substantial amount at risk by changing my gambling habits, it would just be a nonsense, gambling puts your capital at risk, I don't see it as a smart option.
Of course I will just wait for btc available again or just spending / converting into FIAT money

noormcs5

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Quote from: electronicash on June 06, 2023, 04:49:35 PM

while your country plans to ban crypto trading but online gambling legal, you'll gonna to decide what to do with coins. would you go play your coins to accumulate or just withdraw and wait for the government to change stance? no other option.

If you are a gambler, then you may think of gambling with your savings but generally speaking why would you gamble and lose your money (gambling do involve big risk of losing capital)

If you ask me, and I am given only the two options I may spend some part for gambling but mostly I will keep my savings in bitcoin until government unban the crypto. Also If the country never unban crypto, I still have the chance to move or travel to crypto friendly country and then cash out my bitcoins

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