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RE: What Compelled @MagicDice to Exit Scam from Steem? (My FREE EPC Token Offer for Players Inside)
I don't trust any site where the team refuses to identify themselves. It's one step below trusting a guy with a ski mask in a dark alley. Epicdice is up to no good either and I've stopped playing there since I've had issues with their randomness. And guess what, every day I don't play on their site makes me a winner!
But the site trust the players where they refuses to identify themselves, ironic eh? Read more of my response here.
Gambling Dapps don't have to trust the players and choose not to. Now players have one more reason not to trust anonymous gambling sites. I fail to see what's ironic about your comment. The irony was in trusting the house, not the players as the players were the ones who were ripped off.
Gambling dapps have every reason to trust the players. You aware that if you have the permission to interact with the house fund(which all the players do), you can launch an attack if you found any bugs on the system? Trust is always mutual.
Yes, you're very right that when team refuses to identify itself. it's a red flag in itself. I'm shocked to see that instead of giving any valid reason for the anonymity of promoters @blocksensei has chosen to defend their anonymity citing anonymity of its customers. If they really want to know about their customers, they can implement a scrutiny or KYC process when they signup a new customer. But it's not the case so this kind of argument is ridiculous! @blocksensei should also know that hackers and scammers don't necessarily need to signup or become a customer. Accounts may be hacked inspite of their doing a KYC of all their customers. Never saw such an absurd argument! Very unexpected of @blocksensei!
What I feel the reason about anonymity could be that they don't have proper legitimate licenses to operate these businesses. But having a proper license earns more trust. With more competition, bars for transparency will be raised to new levels. As of now, I find @epidice to be relatively more transparent and fair among Steem based gambling dapps. Hopefully, they may have applied for a gambling license too but that takes time (however, I'm just saying that. I don't have any clue).
@epicdice hasn't officially clarified in what capacity @blocksensei is affiliated to them. They say that @blocksensei or @fr3eze is looking after their customer service and apparently an employee of @epicdice. Strangely, people associated with the team are allowed to play on the platform and even post their referral links to earn EPC and dividends!
I respect your decision to quit playing on this platform. But did you find a better one on Steem? Do share.
@blocksensei admitted that epicdice operates in a gray area. I'm sure he also knows that in some jurisdictions it's black and white as oppose to gray. Requiring KYC would mean many Americans would not be allowed to use their site. It would also prevent any Muslim country, half of Asia, parts of Europe and a lot of others from legally being able to use it. Many places don't allow unlicensed online gambling even if it's in "cryptocurrency", "tokens", or magic pixie dust- especially for people under 18. You can easily launder money in casinos that don't require KYC and it ruins the legitimacy of cryptocurrencies.
Spread your risk to other gambling DApps, there are a few of them out there. I wrote about some of the ones I've came across here https://steemit.com/gambling/@crypticat/expected-return-and-payout-from-gambling-with-steem
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The root cause of keeping anonymity is never for the bad cause, but due to the sensitive nature of business we are in. We can only reduce the risk of customers have to face by implementing several transparency components as you can only find in our site. Things will keep working on this way until the whole business is licensed (this is honestly out of my scope).
The true owner/owners is behind the account of @epicdice, although I was the one who created the account for them. Nobody has the active permission of the official account except for the owner. With that said, there is nothing wrong for me or @fr3eze or anyone else (moderators in near future) associated with the platform gambling in the platform. We gambling out of our own pocket as well as the EPC we've minted. There are zero "under-the-table" transactions going on and everyone is welcome to keeping an eye on the chain records.