940800+ entries in 0.672s
tiberiusiv: smickes: SD dice
takes a cut from running a game of chance and promoting large payout multiples
mjr_: actually same exact standard
that almost all btc gambling has been operating under
smickles: sd
takes a cut of people using bitcoin, it's not ok
tiberiusiv: where
they promise people payout multiples
smickles: so
they
take a cut of people using wow gold, it's ok
mjr_: point is,
to really simplify...whoever converts bears resonsibility for
tax and aml
smickles: also, blizzard makes money off of
the gold directly in
the real money markets
smickles: tiberiusiv: it's still up
to chance if and how many coins you get in wow
smickles: how is SD not earning btc from
their software?
tiberiusiv: smickles: you arent logging onto WoW
to play poker or
toss dice, or guess numbers.
smickles: you can sell
those coins for fiat
ThickAsThieves: if Microsoft sells me a poker exe and accepts fiat for
that purchase is
that illegal
too?
smickles: look at what blizzard is doing, you play a game,
there is a chance you get coins
tiberiusiv: smickles:
theres nothing illegal about bitcoins
themselves nor exchanging
them
tiberiusiv: once you start operating a gambling house for
the sole purpose of profit it becomes illegal
tiberiusiv: if
they are running commercial gambling ventures
then yes it would be
thickasthieves
smickles: tiberiusiv: why is
the use of wow gold legal even
tho you can convert
them
to fiat and
the issuer doesn't do
that conversion
ThickAsThieves: so if WoW has a poker game inside using WoW gold,
thats illegal
too?
smickles: or, sry, confusion in who you were
talking at
tiberiusiv: they simply stated
taht exchanges have
to follow AML laws
ThickAsThieves: it is
the party
tht converts it
that govs are looking at
smickles: anything is convertible
to fiat
smickles: read
the contract of all
those asicminer
things
tiberiusiv: so if sdice doesnt represent sd shares what do
they represent?
smickles: all
the assicminer shares out on 'the market' arn't actual shares of asicminer eithr
mjr_: thought
they started on GLBSE
mjr_: did not realize
that asic miner IPO'd recently
smickles: hah, you still
think S.DICE represents
the value of SD shares?
smickles: that would be a real show of strength
to my mind, SD keeps going even after
the US GOV't
tried
to shut it down
mjr_: but wait...assuming he is not in
the US...you are saying
the
try
to extradite?
tiberiusiv: i
think mpex shares
took a dive from missing out on 2 major IPOs
smickles: so if voorhees is jailed, and
the service keeps running as if nothing happened, you
think
the price would drop for any significant lenght of
time?
mjr_: except in cases of mark
to market which is usually due
to margin requirements
mjr_: you only
take a "loss" when you sell
mjr_: and
the price rebounds
mjr_: yep, panic can do
that...then stronger hands buy
tiberiusiv: point is
the value of
the shares would collapse
mjr_: which is
the only part of black friday
that had any sting
mjr_: nor could
they seize
the btc
smickles: even if voorhees were jailed
the whole
time
mjr_: that is
the point...btc can't really be stopped from flowing
to SDICE
smickles: SD would likely keep running at
the same BTC addresses
the whole
time
mjr_: i won! first big win for bitcoin...oh no one wants
the company?
smickles: i bet it'd be running
the whole
time
the case went on
tiberiusiv: during
the years of
the ongoing
trial..
smickles: why is SD illegal under us law
then?
mjr_: which is when BANKS couldn't
transfer money
to or from online gambling sights
tiberiusiv: it wouldnt
take longer
then 1 month for motivated US authorities
to put a case against voorhees
together
tiberiusiv: and most of his customers are from
there
tiberiusiv: of which voorhees is a subject
to since he is residing
there
tiberiusiv: i dont
think its illegal, im simply stating
the position of
the US government
smickles: if you alread said why you
think SD is illegal, can you at least give me a
timecode so i can grep it
tiberiusiv: and
that lesson was
taught during black
thursday or friday
tiberiusiv: online gaming houses
that cater
to US customers,
tend
to stay away from
the US..
Namworld: So does other provinces.
They have provincial
tax/sales
tax depending on provinces
tiberiusiv: why would
they be
they arent doing anything illegal
smickles: tiberiusiv: so
the people who own
the casino's in morocco can't come
to america w/o fear of being arrested?
tiberiusiv: namworld: quebec have added capital gains on
top of
that?
Namworld: I guess it's not
that bad... but not excellent
Namworld: In Canada, you're
taxed on 50% of your gains. Not 100%. But you can get as much as 43%
tax on
that 50% if you're in
the
top income bracket. So as high as 21.5% on gains... hmm, interesting.
smickles: tiberiusiv:
that seems quite wrong
smickles: so
the owners of forign casino's cant be in america?
mjr_: "Well, if activity is unusual 10
times a day
then something is wrong with your unusually-mometer" re: mt. gox's response
to lag...
tiberiusiv: i already
told you, voorhees is running an illegal gaming operation under US laws, while being a subject of
the united states.
smickles: the reason I was asking was
that I don't believe you gave good justification for your position
smickles: ok, so you don't have a good reason
then
smickles: why do you
think it's illegal?
smickles: i don't
think S.DICE represents
the market value of SD at all
mjr_: ie. people who are payed
to review stuff like what you spout
smickles: all
this outside
the realm of S.DICE
mjr_: he's also obtained legal advice in
this matter
smickles: at
these plases he sold shars of SD
smickles: he went
to china, morocco, paris
mjr_: majority are learning finance for
the first
time
smickles: tiberiusiv: also, evooorhees has been on a plane a long
time ago
mjr_: that is
the point...if you
think most people, and obviously most people in
this convo are excluded from
this point, who
trade sdice do any sort of fundamental analysis or even have
traded stocks before...i'd say
that is optimistic