Community funded casino

[Cointxz]

I can believe their words, their opinion about cryptocurrencies, but i don`t ready to trust my money to some nickname, even if it is well known.
But you`re right that they have enough another job and don`t need to share their efforts. In different ways, with different reasons, we get the same result - no casino. And it is good as for me.

I do understand this since some established user in the past went rouge mostly on collectible section after so many years of building their trust score.

However, if this forum funded casino will be considered I’m sure they will use multisig wallet address to control the funds to lessen the risk involved since it will be very rare for them to collude just to destroy their reputation.

I will trust forum admin rather than new casino in the forum because admins already shows how trusted they are on many years of working here.

[alegotardo]

In the past, there’s a lot of casino that offers investment on bankroll then do profit sharing to all investors. I wonder why this kind casino doesn’t prosper while there’s a lot of crypto user that wants DeFi that literally almost the same principle of earning money except to casino has real source of income.


If there will be a casino developed by Bitcointalk forum and offers funding with bankroll, will you invest on it? Does profit sharing idea will not gonna work on current casino competition?

My honest opinion...

Is that there are significant challenges to the success of a community-funded casino because the competition in the gambling market is fierce and online casinos have already established a strong presence and everyone here already has their "favorite", right?

So community-funded casinos need to offer an attractive gaming experience, competitive promotions and a safe and reliable platform to attract players. Certainly many players may prefer casinos with more traditional bonuses and promotions, especially if the revenue sharing results in smaller or less frequent returns, not to mention the variety of games (which would be much more limited) and the transparency and trust that are crucial to the success of this approach that you mentioned.

In the past this might have been a good thing, but nowadays, with so many options, it certainly wouldn't have much traction.

[mak013]

I can believe their words, their opinion about cryptocurrencies, but i don`t ready to trust my money to some nickname, even if it is well known.
But you`re right that they have enough another job and don`t need to share their efforts. In different ways, with different reasons, we get the same result - no casino. And it is good as for me.

Since someone will have to break his anonymity, then there is no nickname that you need to trust. And yes, there are indeed a lot of obstacles but that doesn't mean that is something out of reach, something impossible. We are all good without it but if something like that has been created, perhaps we can be better.

I trust different people in different areas of expertise. If someone is good in cryptocurrencies or gambling, or even both - it doesn`t means that he would be good businessman. Of course it doesn`t mean that such try would be a fail. But i don`t ready to participate in it.

I can believe their words, their opinion about cryptocurrencies, but i don`t ready to trust my money to some nickname, even if it is well known.
But you`re right that they have enough another job and don`t need to share their efforts. In different ways, with different reasons, we get the same result - no casino. And it is good as for me.

I do understand this since some established user in the past went rouge mostly on collectible section after so many years of building their trust score.

However, if this forum funded casino will be considered I’m sure they will use multisig wallet address to control the funds to lessen the risk involved since it will be very rare for them to collude just to destroy their reputation.

I will trust forum admin rather than new casino in the forum because admins already shows how trusted they are on many years of working here.

I can just repeat. I don`t sure that excellent forum admin would be good businessman.
I think that all of us understand, that it can`t be some voting casino. It must be just few leaders(the best case is one) who will decide how to develop it. I prefer to control my money myself. If it would become a good project - i can invest some money, but i don`t ready to invest it from start to unknown project just becaus "he is forum admin, we trust him".

[Julien_Olynpic]

There are many problems in implementing a casino that is funded by the community. If we talk about such a casino on Bitcointalk, then this is possible, but it will face, for example, the problem of regulation and, accordingly, legal problems. In addition, you need a proactive person who will be an enthusiast of this project and who will deal with organizational things. I believe that those users are right who pointed out that as soon as the casino becomes successful, it no longer needs external funding. Although in general, the crypto forum is a good platform for beginnings in the field of gambling and crypto initiatives.
In addition, any business requires centralized management. Decentralization in business is possible, but it complicates the management of business processes.

[Dave1]

In the past, there’s a lot of casino that offers investment on bankroll then do profit sharing to all investors. I wonder why this kind casino doesn’t prosper while there’s a lot of crypto user that wants DeFi that literally almost the same principle of earning money except to casino has real source of income.

Yes, there are a lot in the past, but it seems that most of them who invested didn't profit at all if I'm not mistaken. There are even crypto back coins by the casino themselves and also the same result.

If there will be a casino developed by Bitcointalk forum and offers funding with bankroll, will you invest on it? Does profit sharing idea will not gonna work on current casino competition?

Nah, it will be complicated in my opinion, we are talking about money here, if there are a lot of investors that are going to be involved, then there could be a lot of issues specially if everyone has equal control. So for me, this is a very bad idea and not good for business.

[Smartprofit]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

[sompitonov]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

Of course, it all comes down to making a profit, in particular those who invested in this casino and gave money for it. And those who promoted the idea and asked for money for it because he or a group of enthusiasts did not have it, they really can go far on just one idea, starting from marketing and logos and ending with attracting a community, for example, such as our forum. Generally speaking, it is better to do and create a casino yourself, and resort to investor money in the most extreme case or even refuse it altogether, especially in conditions of great competition, when it will be extremely difficult to survive.

[Smartprofit]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

Of course, it all comes down to making a profit, in particular those who invested in this casino and gave money for it. And those who promoted the idea and asked for money for it because he or a group of enthusiasts did not have it, they really can go far on just one idea, starting from marketing and logos and ending with attracting a community, for example, such as our forum. Generally speaking, it is better to do and create a casino yourself, and resort to investor money in the most extreme case or even refuse it altogether, especially in conditions of great competition, when it will be extremely difficult to survive.

The idea of ​​a business with a large number of investors usually works in cases where investors participate in the project not only with money, but also with their own actions aimed at the successful implementation of the project.

For example, in the past, a whaler's expedition was actually a joint business of all the sailors who took part in this expedition. Each of them had the right to a share of the profits from whale hunting. Similar rules were on pirate ships.

If investors only need money, then most likely, sooner or later, the project team members will start quarreling among themselves. Therefore, I will probably be very skeptical about the news about the creation of a new online casino by the participants of the Bitcointalk forum.

In my opinion, the Bitcointalk forum is a great place to get new information about Bitcoin and other cryptocurrencies.

As for the unification of forum participants to implement new commercial projects, in my opinion, this does not quite correspond to the concept of the forum.

[GxSTxV]

In the past, there’s a lot of casino that offers investment on bankroll then do profit sharing to all investors. I wonder why this kind casino doesn’t prosper while there’s a lot of crypto user that wants DeFi that literally almost the same principle of earning money except to casino has real source of income.


If there will be a casino developed by Bitcointalk forum and offers funding with bankroll, will you invest on it? Does profit sharing idea will not gonna work on current casino competition?

The issue will be a matter of trust here, unless there’s a smart contract involved in the development of such casino, I can’t imagine people throwing money into this casino with no guarantee of a return. Personally, I never witnessed these types of casinos that are funded by people in any place before. I might invest a small sum if the people involved like the developer or a manager inside is someone well known and trustworthy.
I also believe there are few methods to create a smart contract inside the casino where you fund the pool meant to payout players and gamblers, with a code to share a return of the casino gain. This thing will be very complicated and may need auditing and testing before launch.

Personally, I take this idea as a great one, for people like us that believe in this industry, a casino build inside BTT community might be a successful one. The most important thing is how to gain the trust and guarantee a fair share for each investor.

[Russlenat]

Personally, I take this idea as a great one, for people like us that believe in this industry, a casino build inside BTT community might be a successful one. The most important thing is how to gain the trust and guarantee a fair share for each investor.

It's better if things just stay as they are, after all, not everyone here has the capacity to invest or is on the same page. I just don't want to see a casino tied too closely to this forum. If that casino fails, our reputation could take a hit. That's the risk I'm seeing, which makes it tough to market a casino with a tagline involving BitcoinTalk.

[Julien_Olynpic]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

Yes, good management is certainly more important than external funding. Moreover, external funding should imply good management of business processes, otherwise there is no particular sense in these investments. And is good management possible in conditions of decentralized management? For me, this is a big question. In the case of a non-commercial project, such as Bitcoin (and for developers in general, this is a non-commercial project, but rather an ideological one), management can be carried out in a decentralized manner. Developers come up with new concepts, publish them as proposals and formalize them in the form of code. And it is up to specific users to accept these changes or not. In the case of a casino, such pluralism is difficult to achieve. But I do not claim that it is impossible.

[satscraper]

In the past, there’s a lot of casino that offers investment on bankroll then do profit sharing to all investors. I wonder why this kind casino doesn’t prosper while there’s a lot of crypto user that wants DeFi that literally almost the same principle of earning money except to casino has real source of income.


If there will be a casino developed by Bitcointalk forum and offers funding with bankroll, will you invest on it? Does profit sharing idea will not gonna work on current casino competition?

Interesting notion. Probably the base of the architecture for bitcointalk-led  casino should be DAO rather than traditional man-based scheme ^{which I don't trust}. Then, in the case of DAO-casino, ^{most likely} I would invest in it as this investment 1) promises the good return and 2) is protected by blockchain techniques. Regarding profit sharing, according to DAO principles it should be based on the set of the rules entries in the relevant smart contract.

[kotajikikox]

Interesting notion. Probably the base of the architecture for bitcointalk-led  casino should be DAO rather than traditional man-based scheme ^{which I don't trust}. Then, in the case of DAO-casino, ^{most likely} I would invest in it as this investment 1) promises the good return and 2) is protected by blockchain techniques. Regarding profit sharing, according to DAO principles it should be based on the set of the rules entries in the relevant smart contract.

That is a smart idea actually. In DAOs, usually the more tokens you have the more voting power you have which may sound a lot like a company with shareholders of stocks but it ensures that the members with the most contribution can at least have his opinions be considered heavily. Also, there is still a voting among the community and not just let the members with most voting power making decisions that the rest of the community is not a big fan of. It could work except it has to be intelligently designed otherwise it could be unsafe and risky.

[Smartprofit]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

Yes, good management is certainly more important than external funding. Moreover, external funding should imply good management of business processes, otherwise there is no particular sense in these investments. And is good management possible in conditions of decentralized management? For me, this is a big question. In the case of a non-commercial project, such as Bitcoin (and for developers in general, this is a non-commercial project, but rather an ideological one), management can be carried out in a decentralized manner. Developers come up with new concepts, publish them as proposals and formalize them in the form of code. And it is up to specific users to accept these changes or not. In the case of a casino, such pluralism is difficult to achieve. But I do not claim that it is impossible.

Since the time of the caveman, people have loved to gather in a small circle and discuss problems, new opportunities, share their discoveries and effective hunting methods. Homo sapiens have long loved to share useful information with other relatives.

Therefore, decentralized systems are best suited for disseminating information....

It is very difficult for people in our world to maintain freedom and independence from centralized systems.

Therefore, at the beginning of the 21st century, independent teams of freedom-loving people began to organize themselves, who began to develop software methods that ensure their freedom and independence from corporations and governments. These people called themselves cypherpunks and their interaction proved its effectiveness. It was these teams that created such projects as Wikipedia, Bitcoin, Monero and others. These were projects aimed at freedom and independence, the commercial component was not in the first place for them.

As for commercial projects, in particular online casinos, in my opinion, it is more appropriate to use centralized management for them.

[sompitonov]

In my opinion, external financing is always less important for any business than good management. Properly built business processes allow you to create a system that generates cash flows.

Usually, successful companies have centralized management. Such management allows you to make management decisions very quickly, and in business, the speed of decision-making plays a huge role.

In general, investors are not always a blessing. At any time, investors can demand their money back, along with interest, and at any time, investors can begin to interfere with the management of the casino.

In general, as a rule, a casino is a profitable business. And the necessary costs can be financed from retained earnings. And if an online casino does not make a profit and needs external financing, then why is it needed at all? The goal of any commercial organization is to make a profit, this is recorded in the charter of the commercial organization.

Attracting external financing is not a mandatory goal of a commercial organization.

Of course, it all comes down to making a profit, in particular those who invested in this casino and gave money for it. And those who promoted the idea and asked for money for it because he or a group of enthusiasts did not have it, they really can go far on just one idea, starting from marketing and logos and ending with attracting a community, for example, such as our forum. Generally speaking, it is better to do and create a casino yourself, and resort to investor money in the most extreme case or even refuse it altogether, especially in conditions of great competition, when it will be extremely difficult to survive.

The idea of ​​a business with a large number of investors usually works in cases where investors participate in the project not only with money, but also with their own actions aimed at the successful implementation of the project.

For example, in the past, a whaler's expedition was actually a joint business of all the sailors who took part in this expedition. Each of them had the right to a share of the profits from whale hunting. Similar rules were on pirate ships.

If investors only need money, then most likely, sooner or later, the project team members will start quarreling among themselves. Therefore, I will probably be very skeptical about the news about the creation of a new online casino by the participants of the Bitcointalk forum.

In my opinion, the Bitcointalk forum is a great place to get new information about Bitcoin and other cryptocurrencies.

As for the unification of forum participants to implement new commercial projects, in my opinion, this does not quite correspond to the concept of the forum.

Yes, besides everything else, the organizers can run away from investors and create their own project, because they saw how everything works inside and will not have to share with anyone. This happens quite often, even I have seen this in small projects.

Yes, I agree that this is not exactly what we need here on the forum, but it was interesting to discuss it. Nevertheless, there are many different casinos that have good authority on our forum, for example in subscription campaigns. I think it is not necessary to go further.