Immature gambling, but growing up fast

There are some interesting dynamics coming together for Steem and perhaps especially for Steem. It is no surprise that dice games are popular in crypto and turn over a massive amount of transactions but, the age limit to join Steem is 13.

In most countries, the legal gambling age is 18.

Currently it is perhaps protected by a lack of legislation on what exactly a token is, but that is coming. Is spending tokens earned on farmville to buy carrots considered taxable income?

@taskmaster4450 posted this news the other day:

https://steemit.com/busy/@taskmaster4450/huge-news-wyoming-passes-a-bill-that-makes-cryptocurrency-money

Now, do you see what is happening? Once crypto is considered money it falls into all the same legislature that covers money itself - lazy rule making.

But, this is also what takes it mainstream as now that it is money, it is happily taken and used in casinos and, they can definitely turn some coin transaction loads, especially through slot machine style gaming. I heard somewhere recently (can't verify from phone now) that 80% of a casino's revenue comes through boring old slot machines. People are transfixed by them, including the old.

Casinos are going to love crypto transactions aren't they?

SMT Las Vegas

 
So much potential, so much money, so many questions raised. When it comes to age limit laws, it is going to be mandatory to know the customer for a host of liability purposes. Are you ready?

Many people think they are going to be immune to the man through crypto but for most projects, they can only go large when users are known, at least for a great deal of the applications they intend to be used for.

... But... But ... Freedom?

 
Freedom of control of finances, the inflation ( to some degree), where it is spent and used and who can create it. Not freedom from identification, at least not if one wants to use crypto in their everyday lives. You may hide for awhile, eventually, they will connect you.

And that connection will be provable due to its immutability.

It is going to be a very interesting and complex negotiation as various stakeholders including us spend time trying to work out and align our motives and incentives and what is by design, a global stage at a very public level.

The reason the authorities haven't crushed the anarcho-friendly crypto community is that there is just much too much value in the technology. Ledgers have been around for millennia, ledgers that can reach across the globe and track billions of transactions daily have not.

Essentially what is happening now and I will likely talk about more later is, the socialization of crypto. What I mean by this is that before they start to take it truly to the mainstream audience, it is being shopped around, introduced, tested and normalized to position it in the market place. While the banks and investment firms set up the infrastructure to handle it for their customers.

The opportunity for Steem is to be part of the fork from fiat currencies and hold a significant portion of the social transactions, the low level, mass-appeal introduction into crypto. A crypto training bra of a kind that can handle all the various types of shapes and sizes and allow them to engage and transact with low barriers of entry and low risk.

Every type of content currently on the internet could be connected to the Steem project, it is just a matter of building the infrastructure that joins them. Steem really could be one of the backbone systems of crypto future if it gets its shit together. If we get our shit together.

Yes, the process is going to upset a lot of fans on various ways.in the same way Italian house music in the late 80s was not seen as real music but, 30 years later here we all are dancing along to the evolution of dance music. It all takes time and argument but, the future doesn't wait to arrive, it just does.

You can be part of the conversation or, sit in the corner and sulk. Up to you.

Back to work.

Taraz
[ a Steem original ]
_{(posted from phone)}