TheQuin
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July 18, 2023, 06:59:24 AM |
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Do you know any player at Freebitcoin who was asked to perform KYC verification?
They have implemented the new terms in this month. Probably Freebitco team hasn't applied the identity verification rules to anyone yet. But they might do it in the near future. It was about weeks ago. No we haven't and I very much doubt we ever will. ~ It isn't having any effect on how the site is run. The only issues I deal with are multi-accounting and botting abuse.
But how will the terms affect those users who already have an account in Freebitco and physically located in those restricted countries? I was as surprised as everyone else when the ToS was updated. I haven't been given any instructions from wetsuit to implement any rules over and above the old ToS or how to answer these questions. As far as I understand it simply gives us legal protection in CR to state that users are responsible ie "You agree that" which means it's not our fault.
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Kakmakr
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Leading Crypto Sports Betting & Casino Platform
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July 18, 2023, 07:10:21 AM |
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This is devastating news, because Freebitco.in has always been the last bastion for Bitcoin's pseudo anonymous services. I have been a member of Freebitco.in since the days when they were simply a faucet. Wetsuit completely changed that business model back then, because the faucet were not sustainable with the advertisers not willing to pay for "poor" traffic. (their target market are not people who rely on hourly faucet drops) I guess they are going to legitimize the site now, but they are going to lose a lot of users. Wetsuit obviously did the math, so I guess it will not bring down the site, but people are not going to be happy with this decision. I hope "restricted" users will not find that their accounts are going to be "locked" and withdrawals being blocked?
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TheQuin
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July 18, 2023, 07:14:17 AM |
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I hope "restricted" users will not find that their accounts are going to be "locked" and withdrawals being blocked?
I have already answered that twice. The only blocking is for multi-accounting and botting.
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Sim_card
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July 18, 2023, 08:18:08 AM |
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No business or casino can survive without being centralized. FreeBitco.ng has been pushed to government regulations and because they want to continue operating, they have to dance to the tone of the government. I don't think that any non KYC casino is legal because the government wouldn't accept such operation. Whatever,providing any casino with KYC shouldn't be what can stop one from having fun by gambling on their platform. I only feel for those that has some funds in their FreeBitco.ng wallet and their country was among the restricted countries,something should be done fast on how they can make a withdrawal of their funds.
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TheQuin
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July 18, 2023, 08:23:19 AM |
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~FreeBitco.ng has been pushed to government regulations and because they want to continue operating, they have to dance to the tone of the government.~
No. We weren't pushed by anyone. As I have already stated we just wanted to make the site look more professional. As much as I liked the old 3 line ToS it did look a bit amateurish. Getting the lawyers to draft up a professional ToS is something we've been mulling over for a couple of years.
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Crypt0Gore
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July 18, 2023, 08:25:16 AM |
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Much appreciated for the update, I don't even know until now and I still use my account on the website, I am think they have make it big this time and they have no choice but to comply and regulate the platform, freebitco started as a joke like all other faucets of it's time and now it's growing into a bigger gambling platform, if they are to keep running this business they have to get the necessary papers and of cos start asking for KYC verifications, I am not surprised this happened, it's been a long time coming for them to go this road, they don't have a choice it seems.
TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.
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ethereumhunter
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July 18, 2023, 08:31:50 AM |
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I am not surprised to see that. Finally, freebitco follows the other casinos to implement KYC for some of its members from certain countries. This is likely to happen to other crypto casinos as the government is currently monitoring them and one day, these casinos will also be required to implement KYC. I already predicted this would happen some time ago.
But it is true what @TheQuin said. It makes freebitco reach new levels and become a more serious and professional business. Members will see that this new ToS can become a sign that freebitco is a legit site that has operated for a long time. From a joke site, become a professional site. This is a big movement for freebitco.in itself.
From the list shown by @OP, I can still play the faucet freely and hopefully, I won't be asked to do KYC later. And it seems that crypto gamblers can't play gambling freely anymore like before with the regulations implementing KYC, especially those used to using big money.
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iv4n
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July 18, 2023, 08:48:47 AM |
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... TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.
I don't think that a 100% effective measure against multi-accounting and bots exists. But KYC is probably slowing them down... I guess we can't really imagine how many people try to abuse Freebitcoin in some way on a daily basis. When some free money is involved it can be really messy from what I know. I am glad to see TheQuin joining the conversation. I guess we can relax and continue to be active on Freebitcoin...
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TheQuin
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July 18, 2023, 09:03:57 AM |
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... TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.
I don't think that a 100% effective measure against multi-accounting and bots exists. But KYC is probably slowing them down... I guess we can't really imagine how many people try to abuse Freebitcoin in some way on a daily basis. When some free money is involved it can be really messy from what I know. I am glad to see TheQuin joining the conversation. I guess we can relax and continue to be active on Freebitcoin... Even if it wasn't easy for people to fake multiple IDs it wouldn't be viable as means to stop multi-accounting because of the costs associated with verifying KYC information. It would be far too expensive.
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Haunebu
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July 18, 2023, 09:18:59 AM |
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Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.
Sad to see Freebitco go this route by adapting in this manner in order to survive.
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piebeyb
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July 18, 2023, 10:05:21 AM |
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As an old user, I just found out about this new regulation, it really surprised me because as far as I know, so far, FreeBitcoin is KYC-free, I think that maybe many users are abusing this site so that it makes the rules more stringent, indirectly maybe I will support this if this regulation is for preventing multi accounts that have been seen messing up all the faucet prizes and hurting honest players.
I just saw this thread maybe I'll keep track of the progress of the TOS changes on their site. I also hope that the new terms of their site can produce something good in the end in their favor, honest users and playing fair all this time. often see a lot out there about bots and abuse to get btc from this site. very sad
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Trade on the go. Anywhere, anytime.
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ultrloa
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July 18, 2023, 10:20:36 AM |
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Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.
Sad to see Freebitco go this route by adapting in this manner in order to survive.
If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers.
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Wapfika
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July 18, 2023, 10:36:22 AM |
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Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.
Sad to see Freebitco go this route by adapting in this manner in order to survive.
If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers. As per Quinn's reply few posts above, They just update it to become more professional from a legal perspective but they still didn't implement it at this moment. The casino still running on the same rules and the ToS update is just for professionals and at the same time to protect them when regulators start to knock on their door. I think this should be highlighted to avoid confusion but maybe in the future, they might fully implement it. No one knows when.
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avp2306
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July 18, 2023, 11:55:42 AM |
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Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.
Sad to see Freebitco go this route by adapting in this manner in order to survive.
If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers. As per Quinn's reply few posts above, They just update it to become more professional from a legal perspective but they still didn't implement it at this moment. The casino still running on the same rules and the ToS update is just for professionals and at the same time to protect them when regulators start to knock on their door. I think this should be highlighted to avoid confusion but maybe in the future, they might fully implement it. No one knows when. Yes this should be highlighted correctly since there are people doesn't really read the implementation they do and just been scared about the word Kyc since maybe some of them still skeptical about this even if the casino is considered as one of trusted in this forum. But at least there's good updates that we can see so those user can still use freebitco.in just like what they use to be and just prepare for future implementation so no more confusion will happen.
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goldkingcoiner
Legendary
Offline
Activity: 2198
Merit: 1955
Verified Bitcoin Hodler
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July 18, 2023, 01:24:31 PM |
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Something about the timing of this news is kind of strange to me... Centralized platforms, whether online cryptocurrency gambling casinos or cryptocurrency exchanges are going through with implementing KYC, seemingly as though they have been forced to do so quietly by the government. A few days ago Kucoin exchange switched to KYC, as though under some coercion. Despite being non-KYC for such a long time now. Now Freebitco.in is going KYC too? Something is going on... A few months back people started warning others to take out their money from centralized exchanges... Although I do not mind following anti-money-laundering laws and such, I am very skeptical about providing government documents which can be used by identity thieves to take out loans and commit crimes in your name. ID theft has ruined lives. We need decentralized technology to up its game and we need more advanced decentralized gambling platforms as well as exchanges.
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CarnagexD
Sr. Member
Offline
Activity: 1498
Merit: 374
Leading Crypto Sports Betting & Casino Platform
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July 18, 2023, 02:07:01 PM |
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FreeBitco.in is no longer a KYC free casinoFreebitco was known as a KYC free casino since it was created. But recently they have changed their terms. Now there are a lot of rules in the new terms of Freebitco. They have applied restricted jurisdiction rules as well. Based on this rule, a user shouldn't use FreeBitco.in if he/she is physically located in those restricted countries. Even they have added possible identity verification rules. I believe that most of the forum members have an account on FreeBitco. Don't forget to read their new Terms. Based on the new terms of Freebitco, the website is owned and operated by " FBC BV". Perhaps, they have registered a licence under Curacao (I'm not sure about this yet). You may follow this thread to get updates about the casinos License and KYC requirements: Information of Crypto Casinos License and KYC requirements. Note: This topic is self-moderated in order to avoid gambling board spammers. Don't make off-topic discussions, and avoid spamming here. The changes would definitely both have the ups and downs. Probably those players who cannot meet those compliances may not be able to participate again on games, promos, and casino projects. So many participants before may not get hoped in. But in exchange, this will be a great advantage on big players, the owner of the casino, and other stakeholders. Because this will help to raise the credibility of free bit io since here is more emphasis on the privacy and terms of the website. Scammers and fraud will be lessen or eliminated.
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aioc
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July 18, 2023, 02:32:43 PM |
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FreeBitco.in is no longer a KYC free casino
Freebitco was known as a KYC free casino since it was created. But recently they have changed their terms. Now there are a lot of rules in the new terms of Freebitco. They have applied restricted jurisdiction rules as well. Based on this rule, a user shouldn't use FreeBitco.in if he/she is physically located in those restricted countries. Even they have added possible identity verification rules.
After nine years they finally gave in to the authorities, FreeBitco.in popularity exploded because of their no KYC and easy terms which is why it's the most promoted platform, its easy to promote this to newbies or who are just starting out investing in Bitcoin and playing in the casino because of their faucets, bonuses, and referral rewards. The big question here is what will happen to those who are in restricted countries with a lot of referrals there are members with hundreds of referrals that live in the restricted countries, FreeBitco.in will lose a lot of members because of this.
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dwyane36
Legendary
Offline
Activity: 3010
Merit: 2244
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July 18, 2023, 03:00:11 PM |
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As per Quinn's reply few posts above, They just update it to become more professional from a legal perspective but they still didn't implement it at this moment. The casino still running on the same rules and the ToS update is just for professionals and at the same time to protect them when regulators start to knock on their door. I think this should be highlighted to avoid confusion but maybe in the future, they might fully implement it. No one knows when.
Let's hope that the new ToS is just a formal thing and that the conditions on the freebitcoin site will remain the same as it has been for the last 10 years. By the way, it's strange that freebitcoin has specified in the new rules only 7 countries whose users are not allowed to use its site. Other gambling sites usually have a much longer list of restricted jurisdictions, some have 50-60 countries, and others have 80+ countries.
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Mr.right85
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July 18, 2023, 03:02:45 PM |
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I think not on getting a licence from Curaçao based on the under listed nations under physical prohibition from playing at FreeBitco.in. It would be a little put of place to have a licence from an agency in a prohibited nation, don't you think. Still, I don't quite understand the term job be something out of the ordinary with them stating "they would be using third party sites for information verification if need be". It's the most w get from a lot of casinos within the space. The term doesn't seem like a harsh one although, its a need to know for the users that play there to understand if, its something they can accept but, are there any exceptions to already existing customers before the rules was changed?
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Yogee
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July 18, 2023, 03:32:17 PM |
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[....]Perhaps, they have registered a licence under Curacao (I'm not sure about this yet).
This is the first thing that I thought of before opening your topic. -snip- Perhaps, they have registered a licence under Curacao (I'm not sure about this yet).
Freebitco also restricts curacao users, I think there is no way a company registered in country X will restrict users from the same base. cmiiw You'll be surprised but Curacao Government actually requires gambling platforms to include their country in the list of forbidden countries. I got curious about this as well and I've asked about this before in one of my topics. I got this link in one of the responses https://www.curacaowebhosting.com/2018/05/18/where-can-a-curacao-gambling-license-be-used/To Qualify the above
The Curacao license strictly forbids the following countries Aruba, Bonaire, Curacao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore, USA.
All other countries are fair game. You can also verify this by looking at the terms and conditions of all Curacao licensed crypto casinos that are advertised here.
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