Quote from: Bitcoinorama on September 05, 2017, 01:34:12 AM

Quote from: JohnDoe3490 on September 04, 2017, 04:10:09 PM

Quote from: Bitcoinorama on September 04, 2017, 03:27:47 PM

Quote from: JohnDoe3490 on September 03, 2017, 10:15:53 PM

Quote from: Bitcoinorama on September 03, 2017, 07:07:25 PM

Quote from: HODL It on August 31, 2017, 12:09:52 PM

Quote from: Bitcoinorama on August 29, 2017, 12:15:01 PM

Quote from: andrejka on August 27, 2017, 06:33:46 PM

Quote from: Roman Thain on August 27, 2017, 06:01:11 PM

As I understand it, the bitdice is a competitor to FUN, what are the advantages of the FUN, the project is very interesting, although it was released long ago

By the way, is there Russian sipping? Please send a link, please

Also would like to hear the answer for this question. There appear a lot of competitors in this sphere, bitdice, vdice, daocasino etc. What are the main advantages of FunFair. And why the heck the price for the token is so low? Shocked

Bitdice has no legal counsel to speak of. They are listing a dividend based token that fails the howey test, they will likely lose any gambling license and fall afoul of securities law if you read the recent SEC update, vdice is slow and boring. Its a spreadsheet that takes minutes to confirm with expensive gas costs. Dao has no underlying tech to compete with fate channels.

@Bitcoinorama What's your position at FunFair? Assuming you work for them? No ill intentions just looking to place what you said in clearer context. (Bolded & underlined part mine.) Thanks!

I had Bitdice rep approach me in the Telegram chat and he had no idea about Howey, that a dividend paying token would fall afoul of securities law (Goolgel SEC Vs Howey - its the standard test for securities - US has been vague but they will always refer to that and thats what icos are being recommended to ensure they meet its mentioned in their latest update and why many icos are refusing to accept us citizens). If thats the case (and if they do a token raise in general) they will likely not be granted a gaming license or retain any they might have. Bitdice is not a developer but a third party casino operator which needs a gaming license to legally operate.

https://bitcoinmagazine.com/articles/sec-weighs-ico-tokens-securities-ether-still-labeled-currency/

Under the Howey Test, a transaction is a security (or investment contract) if:
It is an investment of money
There is an expectation of profits from the investment
The investment of money is in a common enterprise
Any profit comes from the efforts of a promoter or third party

Bitdice is offering an investment and specifically offers an investment in a common enterprise gives an expectation of profits from an investment.

Of course BitDice is offering an investment. If it wasn't so close, they probably would've opened it up to US citizens. Of course, they need a gaming license for each territory they want. I woulnd't decide right now if being a US gaming license because of a token sale is an automatic rejection. 888 Holdings was a notorious spammer when it received its US gaming license.

Are they asking for investment to bankroll the house? Are they issuing tokens? Are they paying dividends?

Yes. Yes. Yes. So what is your point? A token sale does not automatically preclude one from getting a US gaming license.

They fail the Howey test. They are creating an unlicensed equity through an unlicensed gambling platform and raise money through the creation of an unregulated security.

Howey test only applies in the determination of a "investment contract". It has nothing to do with the licensing of a company for gaming. Yes, a gaming board may look to see where the company has received its funds. As I stated earlier, failing the Howey test does not automatically preclude a company from getting a gaming license.