Privacy almost looking abnormal online.

[uneng]

One of the main flags in crypto industry during its beginning was privacy. However, as adoption went on, and more people came into crypto industry, privacy ceased being an essential attribute to become an eccentricity. Even crypto adopters started defending regulations as something good and necessary, what sounds contradicting, because what is the purpose of cryptocurrencies then if they are going through the same route they were created to become an alternative to?

It's pointless, but at the current point, there is little to do, as most services here (and the most trusted ones) are already regulated, and therefore, don't respect your privacy in anyways.

[Odusko]

With the state of things in the cryptocurrency sector lately, privacy is now becoming a thing of the past. This is because quite a lot of recent mainstream actions to adopt cryptocurrencies like Bitcoin have shifted us towards bringing government laws into cryptocurrency, such as Bitcoin ETFs and institutional adoption of major crypto assets. This has changed the look and approach to privacy and how we handle it.
Unregulated casinos are not in any way connected to the privacy-oriented aspect of cryptocurrency, and we should try to separate them from one another.
Regulation comes with compliance, this means that even if a casino is licensed and values its players' privacy, it will find a way to combine both privacy and compliance, which is why you see some No KYC regulated casinos.

[Asiska02]

We can't deny that the primary reason for this formulation is to have every online casino users under KYC, making privacy look abnormal wherever it tries to relatively exist.

We don’t need to work with a casino that is KYC based before we can trust the casino. Long time trust, transparency and quality of service can also put them above other casinos offering the same services as them. The brain behind only using casino that are KYC required is ultimately exposing your privacy more which every crypto person would not want to expose. KYC licensed casinos are not becoming more and more powerful as they serve as an edge to make users trust their services as a casino that is approved by the government to run, so even when they face scrutiny from the casino, they can be sure they’re bonded by the rules of the law and the government will always stand as the third party to judge the case out. Little did most people know that those casinos can be used to also track and monitor your financial situation/progress.

[Emeraldo]

We can't deny that the primary reason for this formulation is to have every online casino users under KYC, making privacy look abnormal wherever it tries to relatively exist.

We don’t need to work with a casino that is KYC based before we can trust the casino. Long time trust, transparency and quality of service can also put them above other casinos offering the same services as them. The brain behind only using casino that are KYC required is ultimately exposing your privacy more which every crypto person would not want to expose. KYC licensed casinos are not becoming more and more powerful as they serve as an edge to make users trust their services as a casino that is approved by the government to run, so even when they face scrutiny from the casino, they can be sure they’re bonded by the rules of the law and the government will always stand as the third party to judge the case out. Little did most people know that those casinos can be used to also track and monitor your financial situation/progress.

I have never think about the possibility of KYC based casinos using someone's information to track any of there client if there is order from the government or case on ground that requires tracking
This is an eye opener and good to know,  but at the same time it is good and safe when transacting with such reputable organization because this helps to secure your account in case of any form of privacy encroachment and helps tighten security.

[letteredhub]

We don’t need to work with a casino that is KYC based before we can trust the casino. Long time trust, transparency and quality of service can also put them above other casinos offering the same services as them. The brain behind only using casino that are KYC required is ultimately exposing your privacy more which every crypto person would not want to expose. KYC licensed casinos are not becoming more and more powerful as they serve as an edge to make users trust their services as a casino that is approved by the government to run, so even when they face scrutiny from the casino, they can be sure they’re bonded by the rules of the law and the government will always stand as the third party to judge the case out. Little did most people know that those casinos can be used to also track and monitor your financial situation/progress.

I have never think about the possibility of KYC based casinos using someone's information to track any of there client if there is order from the government or case on ground that requires tracking
This is an eye opener and good to know,  but at the same time it is good and safe when transacting with such reputable organization because this helps to secure your account in case of any form of privacy encroachment and helps tighten security.

The tracking isn't as though your physical movements would be tracked but your financial activities can be easily tracked using the information required which you had provided in passing the KYC. There are instances where casino would demand the financial history/statement of the user when they're about to withdraw what is taken to be a big withdrawal size.
Compulsorily demanding you summit your information as KYC when without you willingly doing it, isn't that another form of privacy encroachment?

[crwth]

Personally, I would want some regulation, ensuring that a casino abides by the right rules and is fair to players. It's definitely something that should be done. It's definitely risky to play in an unregulated casino. A lot of discussion has been posted here about why regulation exists.

As someone who likes to be technical, I love seeing how they handle provably fair algorithms that are reliable in proving they're actually random and verifiable. With that in mind, it's best to see that as fair to the players and not just take advantage of the edge.

[iBaba]

One of the main flags in crypto industry during its beginning was privacy. However, as adoption went on, and more people came into crypto industry, privacy ceased being an essential attribute to become an eccentricity. Even crypto adopters started defending regulations as something good and necessary, what sounds contradicting, because what is the purpose of cryptocurrencies then if they are going through the same route they were created to become an alternative to?

It's pointless, but at the current point, there is little to do, as most services here (and the most trusted ones) are already regulated, and therefore, don't respect your privacy in anyways.

To live a private life as a crypto trader or investor is the best you can ever do. It also includes being private with your gambling lifestyle. It is not supposed to be always and on everything though but at least it’s important to learn a low key lifestyle because it helps in your mental health and healing when you are broken. The only disadvantage of doing so again is that if you want to live such a private life, you must be very disciplined and careful about your decisions.

Bitcoin which is like the father of all cryptocurrencies started privately before it later got a more wider and public attention as well as adoption but all these were done privately until when it was mature enough to go out to the public. The same thing should be applicable to you whenever you set out for a goal. Until that goal gets to a certain an clear point, it is not meant to be disclosed but rather nurtured.

For example if you are a gambler and you are winning in your gambling games and have also built a solid discipline, then try and remain private and only share knowledge where necessary but if you realize you are battling with an addiction or something alike, you should open your mouth and talk to people that can come to your aid.

[Judith87403]

To be unregulated do not imply illegal everywhere, yet it mostly means there is little or zero protection when something goes bad. Regulation is not only about control or pushing of KYC. It place rules on payouts, game fairness, dispute resolution, and how funds of players are handled. Without such oversight, you are depending purely on trust.

KYC may feel intrusive, mostly when you are have value for privacy. Yet it is basically linked to anti-money-laundering laws and scam prevention. The trade-off is privacy versus protection.

Therefore the real question is not ideology, it is risk. When a site refuses oversight, transparency, or basic verification standards, you carry the complete downside when they delay withdrawals or disappear.

[coin-investor]

... once a casino isn't under a regulation through license then it's a red flag and a bad casino.

If they are not under regulation, they are doing things under their own rules, without any responsibility to answer to any authorities. This leads to game manipulation, delayed payouts, and other fraudulent activities.

We can't deny that the primary reason for this formulation is to have every online casino users under KYC, making privacy look abnormal wherever it tries to relatively exist.

They need to do this to make sure that the players are playing fairly by not employing other accounts on their platform, and to make sure that the player is not engaging in money laundering, and that they are capable, within their mean,s to play on their platform. It's actually a safety net for players and the platform.

[suzanne5223]

From my personal experience, there are regulated, licensed casinos that can raise a red flag, and there are unregulated casinos that provide users with a worthwhile experience.
Being licensed of a casino does not technically mean it's a safe gambling platform but in the current crypto gambling space most gamblers feel safer going for a regulated gambling platform.

Many actually licensed casinos also raise suspicion, maybe it's the case that every case that keeps coming up makes us suspicious? Like LTC Casino does not have a license but provides a great experience there even though I myself have never played, but some people say the experience is good.

If i am correct, the casino you stated was a decentralized casino, if yes. Then most of the casino i knew that are decentralized are with no license, but they have limited game availability because most game operator dont support the idea of a gambling platform not having a license.

Yep we often assume that a regulated casino is safe, it means that it is under the supervision of the government even though there is still a lot of bad handling from the casino, it's just that having a license means that the casino is serious enough in its business.

I believe one of the reasons why most crypto gamblers often assumed regulated casino to be safe is because of their association with traditional gambling regulation, but the reality license only reduces scam risk, while it does not mean gamblers are in safe hands.

[Akbarkoe]

Just a brain waving thought for us to reflect on.
For casinos that operates unregulated does that actually makes them illegal casinos (a bad casino to use). Isn't it just one of those socio-economic construct moulded by the centralized authority for usjto believe and generally accepting that once a casino isn't under a regulation through license then it's a red flag and a bad casino.

We can't deny that the primary reason for this formulation is to have every online casino users under KYC, making privacy look abnormal wherever it tries to relatively exist.

Unregulated casinos are considered illegal because they lack a legal entity authorizing their operations. However, this doesn't necessarily mean they're bad casinos. The word "illegal" is synonymous with bad things, but what's really happening is that they simply lack the legal entity required for legality.

Unregulated casinos have a negative image because they lack the security, fairness, and other aspects required to ensure a trustworthy casino, which requires a license.

This is by design. Before the government's tightening regulations, things were comfortable and relied solely on trust between casinos and customers. However, this situation was exploited by irresponsible individuals to commit money laundering and other fraudulent activities. Whether we like it or not, KYC regulations are now mandatory, and privacy is merely an illusion.

[alani123]

Licensed casinos can have some advantages.
For instance if there's a dispute the government authorities can overlook the issue and being a ruling without having to go to the territory of the casino and sue them physically.

But the rest are actual disadvantages. Form instance if you have undeclared income and gamble on a licensed casino now your government knows too. This is a huge disadvantage for most people for example

[Dave1]

Licensed casinos can have some advantages.
For instance if there's a dispute the government authorities can overlook the issue and being a ruling without having to go to the territory of the casino and sue them physically.

Rarely though that we have seen gamblers suing online crypto base casinos and going to the territory of the casino itself. Maybe one reason is that it will take a lot of money and time to go after that casino. So it's just a futile effort for gamblers to chase. And as we have seen before, even in land base casinos, only a small percentage favors the gambler themselves.

But I guess in today's landscape, KYC is mandated by casino because of the regulators. It's business and so they will have to comply to be able to get their licenses. For gamblers it might not sound good but this is the picture right now, KYC to be able to withdraw your funds.

[Dr.Bitcoin_Strange]

Therefore the real question is not ideology, it is risk. When a site refuses oversight, transparency, or basic verification standards, you carry the complete downside when they delay withdrawals or disappear.

That exactly is where the problem can arose, especially if the casino disappears, I do not see how fast they can be find if actually they planned to scam, they must have set difficult process not to be identified. Even with licensing, if the can don't want to put KYC, I think they should still be able to detect when a money deposited to their casino came from laundering. So, I just think that the license should not even mandate KYC unless they suspect an account. On most CEX, you don't need to do KYC before using them unless you want to be using the exchange for p2p, that is when they will ask for KYC. So, let casino do same.