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by ahelwer
1672 days ago
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You can argue against this all you want but these arguments sound eerily similar to the "it's just a slow database" type arguments of yesteryear. Bubbles can eventually have value, weirdly - their irrational nature can sort of act as a forcing function taking us out of a local maxima, facilitating the creation of entirely new unforeseeable and previously-impossible things that actually have value of some sort. With cryptocurrencies you could argue they facilitated (through smart contracts and then distributed exchanges) the creation of massively-multiplayer online gambling games with no barriers to entry for publication & interface with the financial system where people win through patience and steely nerve. You may think more-advanced open-source casinos are not good for society, but they certainly hold economic value. If I wanted I could write a smart contract for a MMO gambling game like POWH3D and publish it tomorrow. That isn't a capability I used to have - quite a few hoops to jump through to get a game onto a casino floor, or start up an online gambling website. |
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The previous restrictions on starting your own online casino have never been technological. It's really not that hard to set up your own online casino using non-blockchain technology. The main hurdles are entirely legal. Gambling has a ton of regulations and restrictions in virtually every jurisdiction, and many governments are more then happy to aggressively punish those who break the rules. Regulators aren't going to look kindly on your MMO gambling game just because "it uses the blockchain."
And sure, maybe you can more easily evade regulators by making a blockchain casino, over a traditional online casino. But to me, "creating illegal casinos more easily then before" isn't a particularly compelling use case.