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Is gambling using smart contracts illegal? Because that's all this scheme is. The problem with ponzi schemes is the fraud. It is not the gambling part of it.
by stale2002 9y ago
Is gambling using smart contracts illegal? Because that's all this scheme is.
The problem with ponzi schemes is the fraud. It is not the gambling part of it.
- dragonwriter 9y ago> Is gambling using smart contracts illegal? In most US jurisdictions, gambling is generally prohibited, though there are generally some specific exceptions (often with licensing requirements). So...probably. But this seems to be illegal independently of gambling laws. > The problem with ponzi schemes is the fraud. It is not the gambling part of it. Pyramid schemes that aren't Ponzi schemes are also illegal; while it's called PonziCoin, it's actually more of a (passive) pyramid scheme.