Question about cryptocurency Gambling sites

[kinder]

Hi,

I was reading this article http://www.coindesk.com/bitcoins-gambling-boom-just-getting-started/ cause I was researching about how gambling and bitcoin works. And ofc I found some older and commercial posts where they said that BTC is perfect for it. After deeper research I found that it's not, cause bitcoin transactions can be tracked back to IP . Also some Wallets are closing accounts which are used to gabmle.

Anyway, my idea is not unique and what I could see in this few days that Btc Poker sites are poping up like mushrooms. 98% of them are using some cheap/bad software which are slow & buggy and have bad user experience.

But the way I want to do it, is kind of unique (comparing to other sites). In short, I already started building poker app, using latest technology , hired designer , developers. I  will make user friendly app which will work on all devices & OS's.


My main concern and question is GOV. Can they shut down our gambling sites if for example user from US use it ? What will happen if u become popular and have high traffic ? Reading about Dashpay i came to conclusion that users will be safe with privacy/anonymity . But again, how to protect myself and website it's self to not get shut down.

Any points, suggestions, links are welcome.

Peace,

[arallmuus]

I was reading this article http://www.coindesk.com/bitcoins-gambling-boom-just-getting-started/ cause I was researching about how gambling and bitcoin works. And ofc I found some older and commercial posts where they said that BTC is perfect for it

It works perfect because it is more simpler than using a fiat to deposit in a gambling sites

After deeper research I found that it's not, cause bitcoin transactions can be tracked back to IP .

Yes it can be tracked back, but it is not an issue since it is pretty easy nowadays to bypass the IP check as they are alot of IP changer application such as hola or simply use VPN

Also some Wallets are closing accounts which are used to gamble

Yes and it is coinbase, if they finds out that your transaction indicate that it is from a gambling activity, your account will be closed, anyway thats not an issue because there are alot more wallet to choose from

My main concern and question is GOV. Can they shut down our gambling sites if for example user from US use it ?

Yes they can, most gambling sites banned player from US, but it doesnt stop the US player to keep gamble because as I have written, there are alot of way to bypass the IP check

Reading about Dashpay i came to conclusion that users will be safe with privacy/anonymity .

Yes it is, its all about anonimity

But again, how to protect myself and website it's self to not get shut down.

Do The same thing the player protect themselves, but it is not a guarantee, as you might be having the officer knocking your frontdoor the next morning.

https://bitcointalk.org/index.php?action=profile;u=18106

Perhaps you can ask detail from Micon, since from what I heard, he had the same issue before which makes him changes his poker sites

[twister]

Hi,

I was reading this article http://www.coindesk.com/bitcoins-gambling-boom-just-getting-started/ cause I was researching about how gambling and bitcoin works. And ofc I found some older and commercial posts where they said that BTC is perfect for it. After deeper research I found that it's not, cause bitcoin transactions can be tracked back to IP . Also some Wallets are closing accounts which are used to gabmle.

Only Coinbase closes your wallet if you send/receive bitcoins to/from a gambling site. You can use desktop wallets such as Electrum and have no such problems.

BTC is perfect because it is anonymous and a user isn't required to provide kYC and other verifications to play, it is true that the IP can be traced back but one can use VPN to hide his IP if he is that concerned.

My main concern and question is GOV. Can they shut down our gambling sites if for example user from US use it ? What will happen if u become popular and have high traffic ? Reading about Dashpay i came to conclusion that users will be safe with privacy/anonymity . But again, how to protect myself and website it's self to not get shut down.

If you live in a country where UN-licensed gambling is considered illegal than most probably it will be shutdown, which is why it is preferred you use the servers where they don't consider it illegal. Another aspect of it is, BTC is in grey area at some countries and it is not considered real money, and if you're hosting the site from there than it will considered as just a video gaming site with play-money (like zynga poker chips) and therefore won't be shutdown.

[Chemistry1988]

I was reading this article http://www.coindesk.com/bitcoins-gambling-boom-just-getting-started/ cause I was researching about how gambling and bitcoin works. And ofc I found some older and commercial posts where they said that BTC is perfect for it. After deeper research I found that it's not, cause bitcoin transactions can be tracked back to IP . Also some Wallets are closing accounts which are used to gabmle.

Bitcoin transaction can't be tracked back to the IP.
The IP you see on blockchain.info is just the one relaying the tx to the site but not the one creating the tx.

Just don't use Coinbase, or in general web wallets. This way you will be the only person controlling your wallet.

[Wendigo]

The good thing about fiat books is your funds are in a secure place and will not be stolen unless your computer has some malicious software already installed.

Bitcoin gambling is still in the wild west for now and anything could happpen.

In my opinion the anonimity benefits the owner of the gambling site much more than its customers.

[arallmuus]

The good thing about fiat books is your funds are in a secure place

How is that fiat books are better than bitcoin books? in term of more secure, I doubt fiat transaction is much more secured than bitcoin, as they are the same if the owner decided not to pay you, unless the books use the system of Directbet which is no account needed in this case

In my opinion the anonimity benefits the owner of the gambling site much more than its customers.

How is that it only benefits for the owner? IMO it is Both, the anonimity benefits both player and the owner as bitcoin provided its anonimity not to a selective party but to all user who uses it

[WhatTheGox]

And ofc I found some older and commercial posts where they said that BTC is perfect for it. After deeper research I found that it's not, cause bitcoin transactions can be tracked back to IP . Also some Wallets are closing accounts which are used to gabmle.

If my original bitcoin purchase is logged with an IP im not sure after its moved around a ton how easy it is to trace, what if you convert it to altcoins & back or include trades with other people.  Seem like someone would need a very good reason to track this.

[koshgel]

The good thing about fiat books is your funds are in a secure place and will not be stolen unless your computer has some malicious software already installed.

Bitcoin gambling is still in the wild west for now and anything could happpen.

In my opinion the anonimity benefits the owner of the gambling site much more than its customers.

The thought of withdrawing at fiat books makes me cringe. $20 fee + 1 week wait time to get a check from Singapore.

Bitcoin gambling is superior in EVERY way.

[kinder]

@arallmuus, twister  and other guys tnx for ur replays.

I am still searching where would be good idea to host that website. Also do i need to buy domain on some foreign domain register as well, or just hosting ?

I found this map of where BTC is allowed/not allowd http://merkletree.io/. Where do you guys think its best to host ?

[Altcoin4life]

@arallmuus, twister  and other guys tnx for ur replays.

I am still searching where would be good idea to host that website. Also do i need to buy domain on some foreign domain register as well, or just hosting ?

I found this map of where BTC is allowed/not allowd http://merkletree.io/. Where do you guys think its best to host ?

Found this for you too:  http://gamblingwithbitcoins.com/bitcoin-gambling-legal/

[LFC_Bitcoin]

Why the hell would anybody close your wallet down just because of gambling activity?
Downtown Vegas Casinos are set up for bitcoin gambling so I don't see why Coinbase etc would feel the need to close your wallet?

[|Bitcoin|]

Bitcoin gamble bloom is starting?  No. It had already started since Satoshi Nakamoto started Bitcoin project.

[twister]

Why the hell would anybody close your wallet down just because of gambling activity?
Downtown Vegas Casinos are set up for bitcoin gambling so I don't see why Coinbase etc would feel the need to close your wallet?

It's the law that prohibits them from allowing it: https://www.coinbase.com/legal/prohibited

And they track your transactions but if you still want to do it, you'd have to use a mixing service but why go through all this hassle, just buy the coins from them (if you must) and then transfer them to your desktop wallet (Bitcoin QT, Electrum, etc..) and use them anyway you prefer.

[LFC_Bitcoin]

I really do believe that bitcoin gambling site owners could become very wealthy indeed.
If bitcoin does go to the moon then it really is a niche that is hardly touched.
There's a real market & want for it.
I'd like to see some better sports gambling sites.
I'm English so I prefer football (soccer) based gambling.

[Shogen]

Why the hell would anybody close your wallet down just because of gambling activity?
Downtown Vegas Casinos are set up for bitcoin gambling so I don't see why Coinbase etc would feel the need to close your wallet?

It's the law that prohibits them from allowing it: https://www.coinbase.com/legal/prohibited

And they track your transactions but if you still want to do it, you'd have to use a mixing service but why go through all this hassle, just buy the coins from them (if you must) and then transfer them to your desktop wallet (Bitcoin QT, Electrum, etc..) and use them anyway you prefer.

I really can't understand why people still use Coinbase as their wallet. It is a good exchange, but it is just a bad idea to keep your bitcoin in a hosted wallet. Why can't and why don't they switch over to SPV personal wallets or web wallets that private keys are owned by the users?

[srgkrgkj]

I really do believe that bitcoin gambling site owners could become very wealthy indeed.
If bitcoin does go to the moon then it really is a niche that is hardly touched.
There's a real market & want for it.
I'd like to see some better sports gambling sites.
I'm English so I prefer football (soccer) based gambling.

the market for Bitcoin exclusive sportsbooks is wide open whilst dice sites are wildly saturated Its thought PD makes a hundreds of Bitcoin in profit daily so damn the money being made

[Wendigo]

The good thing about fiat books is your funds are in a secure place

How is that fiat books are better than bitcoin books? in term of more secure, I doubt fiat transaction is much more secured than bitcoin, as they are the same if the owner decided not to pay you, unless the books use the system of Directbet which is no account needed in this case

In my opinion the anonimity benefits the owner of the gambling site much more than its customers.

How is that it only benefits for the owner? IMO it is Both, the anonimity benefits both player and the owner as bitcoin provided its anonimity not to a selective party but to all user who uses it

All due respect but I doubt it Betfair or Bet365 will decide to not pay you if you have won say $10k.  If you are scared to verify your utility bills is another story. Whatever floats your boat.

[LFC_Bitcoin]

I really do believe that bitcoin gambling site owners could become very wealthy indeed.
If bitcoin does go to the moon then it really is a niche that is hardly touched.
There's a real market & want for it.
I'd like to see some better sports gambling sites.
I'm English so I prefer football (soccer) based gambling.

the market for Bitcoin exclusive sportsbooks is wide open whilst dice sites are wildly saturated Its thought PD makes a hundreds of Bitcoin in profit daily so damn the money being made

Incredible figures really.

[arallmuus]

The good thing about fiat books is your funds are in a secure place

How is that fiat books are better than bitcoin books? in term of more secure, I doubt fiat transaction is much more secured than bitcoin, as they are the same if the owner decided not to pay you, unless the books use the system of Directbet which is no account needed in this case

In my opinion the anonimity benefits the owner of the gambling site much more than its customers.

How is that it only benefits for the owner? IMO it is Both, the anonimity benefits both player and the owner as bitcoin provided its anonimity not to a selective party but to all user who uses it

All due respect but I doubt it Betfair or Bet365 will decide to not pay you if you have won say $10k.  If you are scared to verify your utility bills is another story. Whatever floats your boat.

With as due respect as well, What I meant is that actually both bitcoin sportsbook and fiat sportsbook is on the same boat as if the owner decided not to credit the winning and also in form of anonimity, bitcoin is better in fiat transaction since it is harder to track if online gambling isnt legal in your country 

[DirectDice]

I'd like to see some better sports gambling sites.
I'm English so I prefer football (soccer) based gambling.

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