US Banks are conducting a lottery under your interpretation of law. They receive interest as a prize for payment processing.
Incorrect. I agree that banks do receive interest as a fee or "prize" for payment processing. However, they do not randomly select who gets payment processing and who does not - there is no "chance" selection of customers. Everybody who submits a request for payment gets equal service. No element of "chance", no lottery.
The real argument is Consideration. In legal theory, "Consideration" does not apply since no one is purchasing from the one running this lottery.
Incorrect. Consideration is not about a "player" (mining) OBTAINING something of value from a "lottery runner" (Bitcoin). Consideration is about the "lottery runner" (Bitcoin) RECEIVING something of value from the "player" (miner) - namely, the addition of a block to the blockchain from a single miner that it designates as a ten-minute "winner".
Thank you for thinking this through instead of just insulting me. You will eventually conclude that legally I am right, as uncomfortable as that will be to admit.
ahhaha what a dumb fuck. Dont tell me you actually pass your bar exam. This is why most lawyers are only able to sign documents for money. Rarely they even understand what the fuck the law says, how its created ...