Is Online Gambling Lícito If Bitcoins, Not Dollars, Are At Stake: All Tech Considered: NPR

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Is Online Gambling Lícito If Bitcoins, Not Dollars, Are At Stake?

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An photo depicts the SatoshiDice webstek, which exclusively uses Bitcoin, not dollars, for gambling. NPR hide caption

An picture depicts the SatoshiDice webstek, which exclusively uses Bitcoin, not dollars, for gambling.

With no government ties, Bitcoin is used to buy everything from blogging services to Brooklyn-made cupcakes. Theoretically, millions of dollars are being kept te the digital currency, and it’s increasingly being used by specialized online gambling websites. But is Bitcoin gambling legítimo?

Purely ter the interests of journalism, I determined to get my mitts on some of the currency. When I did so, Bitcoin, which has bot around for a few years now, wasgoed fetching around $17 on most exchange sites. It has since risen to more than $20.

It turns out that it’s indeed effortless for someone to give you Bitcoin, but it’s less effortless to just buy them from a third party. I ended up asking a friend with some Bitcoin to help I told him I’d buy him a duo beers straks. So, I created a Bitcoin account, and he slok mij a few.

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The very first gambling webpagina I attempted wasgoed SatoshiDice, an online dice spel specifically designed for Bitcoin. Honestly, it’s a pretty boring spel. You just bet on whether a random dice roll will come up below a certain value.

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After I bet 0.02 Bitcoin, SatoshiDice sent an email telling I won. So, I bet the omschrijving of 34 cents and I won 38 cents, meaning I came out a little bit ahead.

The federal government says online gambling is a no-no. Ter the last few years, the Justice Department has made it very clear: You can’t just open up an offshore gokhal online and embark taking bets using presente money from the United States.

But last year, a duo of entrepreneurs asked themselves what if you were only betting with Bitcoin?

“What Bitcoin does is that it totally circumvents that,” says Jerry Brito, who studies the currency spil part of his work spil a senior research fellow at the Mercatus Center at George Mason University. “There is no Bitcoin company, there’s no Bitcoin building that regulators can get their arms on. It’s basically specie.”

3 Comments

  1. Jeleaste

    June 18, 2018 at 11:54 pm

    By the way, if somebody wants to abandon and sell their share to somebody else – find a buyer, announce transaction publicly and I will budge your share to another account.

  2. colleen1433

    June 19, 2018 at 1:43 pm

    automatic cloud backup for user’s private keys (encrypted)

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