Post
Topic
Board Gambling
Re: Why they need a license if bitcon is not money?
by
fuguebtc
on 05/10/2024, 03:54:11 UTC
Bitcoin users are supposed to be anonymous, and crypto casino users should be as well.
The main reason for regulating casinos is consumer protection.
I disagree! The main reason for regulating anything by the government is for proper accountability (which includes legal/illegal outflow and
security) and taxation. If the protection of the consumer is the main reason for government regulation in casinos, casinos would fear more than they do. How many customers has the government helped so far?

I agree that the government wants to regulate casinos not only to protect consumers but also to tax us more. But I think it depends on the country, as Don Pedro Dinero said: if you live in countries with strict regulations and participate in regulated casinos then your interests will be guaranteed if something goes wrong. And if you participate in unlicensed casinos, even trying to evade taxes, then do not expect and criticize when the government does not protect you.

I largely agree with what freedomgo says: I think we are too greedy to want privacy, avoid taxes, but still want the government to protect us. Everything has its price, and benefits need to be shared equally among everyone. We cannot be too greedy and only want the government to protect us while we do not want to contribute anything to the country.

Quote
Do we really want casinos to be used as tools for laundering money, especially when those funds could be used for harmful activities like terrorism?
Smiley
You made a good point and I've iterated it many times even though some careless people will still argue it with you. Privacy and freedom are good but when they are too much, it causes issues, particularly security issues. I will always vote for regulation even as I do not like many government activities, it still helps limit the damage that total freedom would cause.

On this issue, I would also vote for regulation because our privacy could not be more important than fighting terrorism, money laundering...