Bitcoin Gambling Expansion?

[MPOE-PR]

Hey guys, just came across this article on Ars Technica..
Bitcoin Based Gambling to Expand in 2013

I'm impartial to the expansion of gambling and the use of Bitcoin with it, but I do think this will ultimately lead to an increased USD/BTC price overall (obviously not immediately). Thoughts?

The U.S. government went really harsh after online gambling businesses 5-10 years ago; I am somewhat concerned that Bitcoin in general may end up taking heavy beating ("we don't do body counts" is the stated U.S. government approach to pursuing their agenda).

This is where Bitcoin Foundation and vanilla businesses come in - educating the public, the law enforcement, and the representatives about all the facets of this wonderful technology.

That's fine. BTC doesn't do bodycounts either, and much unlike the various people making up the US Gov't BTC doesn't actually have bodies, either.

In a way I hope Bitcoin isnt used more in gambling websites. It already has a bad rep as it is, (drugs, money laundering, etc) more criminal activity and people will start looking at Bitcoin as a currency for criminals.

Gambling is not criminal activity. Being a US citizen is criminal activity.

Forget the other way around, it's high time for the US to start spending their own dime to educate the world about how they're not really Nazi Germany v2.0.

I wonder how much of the value in a bitcoin at the moment is due to it being the accepted chip at the worlds biggest dice game.

Jan 08 09:28:08 <midnightmagic>   mircea_popescu: the value of keeping sdice txn in the blockchain is less than the value of keeping diffuse txn in the blockchain, including mixnets btw.
Jan 08 09:28:31 <midnightmagic>   and miners are the ones who set fee structures.
Jan 08 09:28:35 <mircea_popescu>   this is a moot question
Jan 08 09:28:41 <midnightmagic>   that is part of the whole nature of bitcoin.
Jan 08 09:28:43 <mircea_popescu>   nobody's to evaluate the value of keeping a tx in the blockchain
Jan 08 09:28:48 <mircea_popescu>   other than the issuer of the tx.
Jan 08 09:29:08 <mircea_popescu>   miners stick with this or get lost.
Jan 08 09:29:17 <midnightmagic>   that's not true.
Jan 08 09:29:23 <mircea_popescu>   hey, it's the exact standard
Jan 08 09:29:39 <mircea_popescu>   but you're welcome to establish it through experience if simple theory doesn't cut it for ya.
Jan 08 09:29:53 <midnightmagic>   the exact standard has fees, and the code has anti-dust-spam exceptions in it. satoshi foresaw operations like sdice.
Jan 08 09:29:59 <mod6>   *whew* almost forgot that mtdew in the freezer
Jan 08 09:29:59 <midnightmagic>   hah, lol.
Jan 08 09:30:23 <mircea_popescu>   i guess at some point the split between the people who matter and the people who think they know better is inevitable
Jan 08 09:30:43 <mircea_popescu>   contrary to what the people who think they know better think, their fall into oblivion will be immediate.
Jan 08 09:31:04 <midnightmagic>   let other people who don't care, mine sdice txn, and take the hit to block propagation. the incentive is against including sdice txn in the blockchain.
Jan 08 09:31:15 <mircea_popescu>   yeah, i guess time will tell.
Jan 08 09:31:32 <mircea_popescu>   the incentive really is against including miners who don't ihnclude transactions into bitcoin.
Jan 08 09:31:53 <midnightmagic>   that's not true. even miners who do *no* txn in their blocks are still burying txn in work.
Jan 08 09:32:11 <midnightmagic>   they're still securing the blockchain.
Jan 08 09:32:15 <assbot>   [MPEX] [S.DICE] 550 @ 0.00477167 = 2.6244 BTC

Jan 08 09:32:28 <mircea_popescu>   you'll at some point have to come to terms with the cold reality that about half of bitcoin's utility atm is s.dice
Jan 08 09:32:48 <mircea_popescu>   i know you like bitcoin in principle. but in practical terms, it's useless other than because its that thing where sdice happens.
Jan 08 09:33:26 <mircea_popescu>   "not including" the filling in the donut is pracrtically speaking not including yourself among the donut makers.
Jan 08 09:33:32 <mircea_popescu>   because donuts WILL be made.
Jan 08 09:34:01 <midnightmagic>   lol hilarious analogy. But! Are they Tim Horton's doughnuts, or Krispy Kremes?
Jan 08 09:34:14 <mircea_popescu>   apparently they're E Vor Hee's

Roughly half.

That is why I created a bitcoin gambling site. So lol away at reality too I guess.

The guy does nothing but knows better. It's a sickness.

[fcmatt]

"Gambling is not criminal activity. Being a US citizen is criminal activity."

How can one hope to debate this with you when you have your own version of reality?

"mircea_popescu
 Fuck that shit. The US is a rogue state. Americans should just be executed on sight."

Uh, yea sure.

"The guy does nothing but knows better. It's a sickness."

I know people have gotten into huge arguments with you so I will not go there.
Everyone here already knows how you roll.

[MPOE-PR]

"Gambling is not criminal activity. Being a US citizen is criminal activity."

How can one hope to debate this with you when you have your own version of reality?

"mircea_popescu
 Fuck that shit. The US is a rogue state. Americans should just be executed on sight."

Uh, yea sure.

"The guy does nothing but knows better. It's a sickness."

I know people have gotten into huge arguments with you so I will not go there.
Everyone here already knows how you roll.

Everyone, eh? What's with this everyone bullshit people run and hide behind? What's everyone ever done for you?

But yeah, it's all in Meni Rosenfeld's vanity thread.

[fcmatt]

"Gambling is not criminal activity. Being a US citizen is criminal activity."

How can one hope to debate this with you when you have your own version of reality?

"mircea_popescu
 Fuck that shit. The US is a rogue state. Americans should just be executed on sight."

Uh, yea sure.

"The guy does nothing but knows better. It's a sickness."

I know people have gotten into huge arguments with you so I will not go there.
Everyone here already knows how you roll.

Everyone, eh? What's with this everyone bullshit people run and hide behind? What's everyone ever done for you?

But yeah, it's all in Meni Rosenfeld's vanity thread.

Take your claim for example in the post above. That bitcoins value.. half of it is due to SD. You really
believe that? You expect others to believe that? That somehow you managed to get SD onto your exchange
all of a sudden makes your opinion god like?

I realize you make some good posts. Intelligent posts. I am not calling you an idiot. But to start going back
and forth with you on this forum is pointless. I have an opinion. I gave it. I should know better to respond back
to you on topics that are too close to your bottom line.

[MPOE-PR]

"Gambling is not criminal activity. Being a US citizen is criminal activity."

How can one hope to debate this with you when you have your own version of reality?

"mircea_popescu
 Fuck that shit. The US is a rogue state. Americans should just be executed on sight."

Uh, yea sure.

"The guy does nothing but knows better. It's a sickness."

I know people have gotten into huge arguments with you so I will not go there.
Everyone here already knows how you roll.

Everyone, eh? What's with this everyone bullshit people run and hide behind? What's everyone ever done for you?

But yeah, it's all in Meni Rosenfeld's vanity thread.

Take your claim for example in the post above. That bitcoins value.. half of it is due to SD. You really
believe that? You expect others to believe that? That somehow you managed to get SD onto your exchange
all of a sudden makes your opinion god like?

I realize you make some good posts. Intelligent posts. I am not calling you an idiot. But to start going back
and forth with you on this forum is pointless. I have an opinion. I gave it. I should know better to respond back
to you on topics that are too close to your bottom line.

It's a statement, I showed its source, that's what it is. The source of course happens to be somebody in BTC. That you personally for your own existent or inexistent BTC agree or disagree with what that somebody says is entirely your own private personal problem. But you're still a nobody, and simply the act of nobody disagreeing with somebody doesn't make the nobody into a somebody too. It's not how it works, even if it's how plenty of nobodies want it to work.

Opinions based on nothing are not worth sharing. Think about that for a second, if you can take your eyes off "my bottom line" for that long. I imagine you mean my ass, right?

[fcmatt]

for fucks sake. i now understand where you are coming from. since you created a website or have some
relationship with someone who created a website that has something to do with bitcoin.. you are better then
those who have not. got it. you are a bitcoin expert/god/high roller/old schooler/whatever.

i should have known better to respond back to you. feel free to set me on ignore.

[MPOE-PR]

for fucks sake. i now understand where you are coming from. since you created a website or have some
relationship with someone who created a website that has something to do with bitcoin.. you are better then
those who have not. got it. you are a bitcoin expert/god/high roller/old schooler/whatever.

i should have known better to respond back to you. feel free to set me on ignore.

No, this is a very valuable discussion muchly on topic and so forth. Let us continue it indefinitely and then act as if THAT makes us important and gives our verbose opinionation weight. Not in any case having made "a website", as if that has anything to do with what MPEx is.

[FaireumOfficial]

Hey guys, just came across this article on Ars Technica..
Bitcoin Based Gambling to Expand in 2013

I'm impartial to the expansion of gambling and the use of Bitcoin with it, but I do think this will ultimately lead to an increased USD/BTC price overall (obviously not immediately). Thoughts?

Despite the significant growth of the online gambling industry, several on-going issues have made some countries (the US most prominently) reluctant to legalize online gambling. Additionally, a large number of people are deterred from trying out betting games due to problems with trust, security and reliability.

Also, problems such as account restrictions due to location, withheld bonuses, withdrawal fees and restrictions among other tend to deter people from even trying out online betting.

Our Team at Faireum aims to get rid of the restrictions placed upon the online betting community, and along with that, all the insecurities plaguing the minds of potential clients.

By creating a new blockchain and a set of protocols with custom features to meet Online Gambling requirements, Faireum will introduce a platform that is trustful, borderless, secure, and fast for blockchain-powered online gambling, therefore:

-Our Solution Reducing operational costs of online gambling therefore providing higher payouts

-Reducing the risk of fraud Reducing the cost of user accounts and money management for online casino operators

-Creating an open ecosystem of provably fair interoperable online casinos

-Providing third parties with trustful and transparent services to fit development under Faireum protocols

-Providing an official gambling platform that is based on the Faireum network for fully transparent betting and charging

[angel55]

The last thing we need is more gambling, all it does is prey upon desperate people or those that don't understand probability.  It is a zero sum game doesn't add anything to society.