With all the drama going on at the Bitcoin focused poker site ‘Seals With Poker’ – personnel leaving on mass, site closing don, a new site re-opening, police raid, etc, it begs the question can alternative currency ever be used for poker if it cannot be regulated?
With regulation there is always an onus on the regulators being responsible for the activity that is being regulated. Without regulation anything can happen and private enterprise are not capable of monitoring the activity because it is busy trying to make money. When you want to make money regulation is the last thing you want, unless your company/industry got caught messing up or the customers they sell too do not trust them.
So it is a technical question and not a philosophical question. The only solution I can come up with is to do what we did and give away converted digital currency so that people can enjoy their passion for financial risk for free and liberate the crypto currency from megalomaniacs and monopolists.
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