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HTML5 Anonymous Bitcoin Poker

bearcoinpoker.com

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Re: HTML5 Anonymous Bitcoin Poker

#41

Post by dec0dedab0de »

merlincorey wrote: post #37
encoderer wrote: post #33

Earlier quoted context omitted.

Unfortunately the criminal mind discounts the possibility of getting caught. There have been several big scandals of this sort in online poker. Scams at Absolute, Full Tilt and others have been uncovered.

Most poker-room scandals are separate from the house cheating and more to do with bad accounting/book keeping practices and out right stealing. The Ultimate Bet / Absolute scandal involved super-user accounts being used to reveal hole-cards of opponents and that most certainly was cheating. The end result is that room went down in infamy and most of the people associated with it at the highest levels are looked down…

Not to mention that fult tilt probably could have gotten away with it indefinitely if they weren't shut down. They were basically practicing a form of fractional reserve.

Re: HTML5 Anonymous Bitcoin Poker

#42

Post by dec0dedab0de »

merlincorey wrote: post #34
dmcginty wrote: post #27

Earlier quoted context omitted.

I'm in the United States. To my knowledge online gambling is not strictly illegal, but it's illegal for online casinos to send or receive money to or from any banking or crediting organization, therefore preventing users from transferring money into casino accounts. Bitcoin is still in a weird realm where it's considered property rather than a currency, which I imagine would make it similar to gambling with gold. (My…

This is my understanding, as well. The anti-gambling/anti-poker laws from "Black Friday" in 2011 actually have to do with banking and USD. This is why there are actually several US-facing card rooms operating out of country semi-legally - they do not do banking in the US, so they are not afoul of laws in most states. I believe New York is a notable exception along with a few other states which sites like Bovada will…

it has been cleared up, and completely legal now federally. That is why NJ, and NV, and DE have their own online gambling laws. The problem is that they all are designed to help the local business owners, and not promote the freedom of their residents.

Re: HTML5 Anonymous Bitcoin Poker

#43

Post by TylerE »

merlincorey wrote: post #32
TylerE wrote: post #16

Earlier quoted context omitted.

Why do you believe this is legal? http://www.pokernews.com/news/2015/02/seals-with-clubs-chair...

Their problem was accepting players from legal states (Nevada, Delaware, New Jersey), and in this case, specifically the Nevada Gaming Commission came at them for not registering to be regulated while accepting US players and having "company officers" in the US. The truth is, Micon was the "chairman", but the actual operations and such all took place out of country. Crypto currency gambling is legal in the United Sta…

The law says nothing about "dollars".

Here's what it says:

(4) Financial transaction provider.— The term “financial transaction provider” means a creditor, credit card issuer, financial institution, operator of a terminal at which an electronic fund transfer may be initiated, money transmitting business, or international, national, regional, or local payment network utilized to effect a credit transaction, electronic fund transfer, stored value product transaction, or money transmitting service, or a participant in such network, or other participant in a designated payment system.

No person engaged in the business of betting or wagering may knowingly accept, in connection with the participation of another person in unlawful Internet gambling—

(1) credit, or the proceeds of credit, extended to or on behalf of such other person (including credit extended through the use of a credit card);

(2) an electronic fund transfer, or funds transmitted by or through a money transmitting business, or the proceeds of an electronic fund transfer or money transmitting service, from or on behalf of such other person;

(3) any check, draft, or similar instrument which is drawn by or on behalf of such other person and is drawn on or payable at or through any financial institution; or

(4) the proceeds of any other form of financial transaction, as the Secretary and the Board of Governors of the Federal Reserve System may jointly prescribe by regulation, which involves a financial institution as a payor or financial intermediary on behalf of or for the benefit of such other person.

Re: HTML5 Anonymous Bitcoin Poker

#44

Post by dragonwriter »

dmcginty wrote: post #27
mikeash wrote: post #15

Earlier quoted context omitted.

I thought online gambling was generally not legal.

I'm in the United States. To my knowledge online gambling is not strictly illegal, but it's illegal for online casinos to send or receive money to or from any banking or crediting organization, therefore preventing users from transferring money into casino accounts. Bitcoin is still in a weird realm where it's considered property rather than a currency, which I imagine would make it similar to gambling with gold. (My…

> therefore preventing users from transferring money into casino accounts. Bitcoin is still in a weird realm where it's considered property rather than a currency

...for tax purposes by the IRS. That's completely separate from its treatment in regard to other things, like financial services (e.g., money transmitter) regulation, and potentially gambling regulation.

Re: HTML5 Anonymous Bitcoin Poker

#45

Post by merlincorey »

TylerE wrote: post #43
merlincorey wrote: post #32

Earlier quoted context omitted.

Their problem was accepting players from legal states (Nevada, Delaware, New Jersey), and in this case, specifically the Nevada Gaming Commission came at them for not registering to be regulated while accepting US players and having "company officers" in the US. The truth is, Micon was the "chairman", but the actual operations and such all took place out of country. Crypto currency gambling is legal in the United Sta…

The law says nothing about "dollars". Here's what it says: (4) Financial transaction provider.— The term “financial transaction provider” means a creditor, credit card issuer, financial institution, operator of a terminal at which an electronic fund transfer may be initiated, money transmitting business, or international, national, regional, or local payment network utilized to effect a credit transaction, electronic…

The items you posted seem to be pretty squarely related to USD. I am not aware of a BTC credit system or financial institutions involved with BTC in the US aside from the likes of Coinbase, et al, who, being involved in the USD side of things, are explicitly anti-gambling themselves.

Crypto coins are stocks, not money, according to the IRS. There are no written checks for crypto currency. There is no financial institution involved in the transmission of crypto currency.

Re: HTML5 Anonymous Bitcoin Poker

#48

Post by RoboTeddy »

Using something like Ethereum, it's actually possible to prove that the house is fair: https://forum.ethereum.org/discussion/comment/2944/#Comment_...

It involves a clever trick for keeping hole cards and the deck initially secret, despite the fact that everything in the blockchain is public.

Re: HTML5 Anonymous Bitcoin Poker

#50

Post by nqzero »

merlincorey wrote: post #34
dmcginty wrote: post #27

Earlier quoted context omitted.

I'm in the United States. To my knowledge online gambling is not strictly illegal, but it's illegal for online casinos to send or receive money to or from any banking or crediting organization, therefore preventing users from transferring money into casino accounts. Bitcoin is still in a weird realm where it's considered property rather than a currency, which I imagine would make it similar to gambling with gold. (My…

This is my understanding, as well. The anti-gambling/anti-poker laws from "Black Friday" in 2011 actually have to do with banking and USD. This is why there are actually several US-facing card rooms operating out of country semi-legally - they do not do banking in the US, so they are not afoul of laws in most states. I believe New York is a notable exception along with a few other states which sites like Bovada will…

i'm mildly terrible at poker, but trying to improve. unfortunately, it's hard to practice unless money is on the line. i'd like to be able to play online (with smaller blinds and rake than a brick and mortar casino). i'm not interested in being able to "cash out" ... it's a purely money losing proposition because of my lack of skill

any idea if there's a way i could play on any of these sites in this manner ?

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