Post
Topic
Board Gambling discussion
Re: Are There Any Regulations for Bitcoin Casinos?
by
karnwillbit
on 21/04/2018, 06:50:53 UTC
That is the tricky part because online gambling on some countries should be licensed first before they can even operate in that country. Now this Bitcoin gambling site do not cater to one country only as most of them accepts players internationally. I don't know whether what they are doing is legal or not but it maybe has something to do with them operating on cryptocurrencies and not involving Fiat Currencies, it maybe is there legal loophole that is why they can operate without even the government shutting them down. They are like Faucet sites or any Bitcoin related site.
In my country the government also banned bitcoin and its trading because it is decentralized and the government has nothing to do with bitcoin. If the people lost their money or being looted they cannot report it in government. Anyhow there should be rules for gambling in bitcoin in these countries where it is allowed and people freely deal in bitcoin.
No, I think if the governments are continuously banning bitcoins to be used in their countries just because of the reason that bitcoins are decentralized and they can’t control them, I think they must ensure the banning of gambling as well. Reason is, people are losing their money and valuables and becoming unemployed and thus making a bad image and impact to the society.
That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.
It is clever of a government to accept bitcoin and allow its citizen to enjoy financial matters in the form of this currency but allowing gambling and that also with bitcoin, does not sound very lucky to me friend. Risking the most precious and expensive asset of the world in most useless and dangerous game is the worst decision that one can make in his life. I believe, bitcoin has more meaningful uses.