You are viewing a single comment's thread from:
RE: An update on HEROcoin - eSports betting made in Austria!
Puh ..
An Betting/Gambling Mechanic for eSports which to a great degree target an young audience.
Seems like their lawyer was looking for an new challenge.
I highly doubt that this will work well as long as they don't bother to legitimate their Customers, and doing so is ...
Sure, there are solutions out there like "PostIdent", "WebIdent" or "IDNow" (last one used by N26 Onlinebank) but yeah - wouldn't be an Plug&Play solution either. More like signing up for an new Exchange - which is totally possible but an high barrier of entry.
I'll watch the Project and wait what will happen in the Future. Interesting Idea anyway. Thanks for the Information @theaustrianguy.
The question is, what is the definition for young ;)? I don't think they are aiming for kids but rather for younger adults (<30years in my view f.e.) who are well legal to do betting ;)
That's the question.
Legally its their Job to determinate if their customer is 17 or 19, and i don't think that this 'll be fun.
Maybe an Coin like Civic would help them.
There are many betting operators out there who manage to do that - why shouldn't it be possible for them as well? I don't think that's going to be a huge issue. There is a lot of available experience on how to verificate users on online betting platforms.
Well do they manage the gambling issues actually well?
Here are two videos from last week tonight about gambling, and concerning eSports / games, the loot box system has seen a gambling discussion last year as well (also mainly because they exactly did not managed to get the kids or addicted out of it).
HERO has nothing to do with lootboxes - Btw. a system I don't like at all ;)
Your point was that there are systems in place at online gambling plattforms to verify users.
I asked / questioned if those systems are doing a good job and added the videos as background information.
So going back to the original point, "why shouldn't it be possible for them as well" -> How does HERO plan to handle it? Are there actual plans and statements or is it more about hoping / guessing it'll turn out fine?
Since I don't work for them or have any background info, I don't have details about how they will do that.
However I know that it doesn't seem to be a problem for the many betting operators of classical sports bets out there. And since HERO is in contact with people from those platforms, there should not be a problem to implement the same verification processes on their betting site as well.
A company with conscience? In a relative unregulated environment like crypto currencies?
And at gambling it is not only about kids but also about adults that have it not under control.
There will always be people who have no control over certain things (alcohol, poker, betting, etc.) But is too much regulation really the key? Or should there just be better prevention and education? I favor the second.
Are we talking about too much regulation or about any regulation at all?
"I don't think they are aiming for kids but rather for younger adults" - is there a fact that proves this?
Please don't get me wrong, I don't want to talk that coin bad. But I think there are legal and moral items to be considered for a coin focused on online gambling to succeed in the long run (referring to your HODL picture). And I am asking if that company startup has a plan to deal with such items.
This weekend John Oliver had cryptocurrencies in his show as a topic. See
e.g. https://steemit.com/crypto-bitcoin/@icebergizzle/johnolivertalkscryptocurrency-5xykz5ik0d or look for it on the last week tonight youtube channel. I would say the final thoughts apply to HERO as well.
Since they want to be present in a country where betting isn't allowed for underaged (<18 here in Austria) people, I think it is quite safe to assume that they don't target those as their audience ;)
That would be the same as if you were to produce vodka for 14-year olds in Austria - plain stupid and no business model.
I think they have thought about such basic things ;)
Well basically that's my point (applies also to the other discussion line).
It would be actually plain stupid and a poor business model. And when I plan to put my money into a business I want to know some key items about it. Just guessing that they'll handle every critical item is not a good basis in my point of view.
But as John Oliver described it, any money put into crypto is currently already gambling and you should only put in so much you can affort to loose. So if someone want's to FOMO on hero coins he is imho free to do so (even if it's not of my business).
I just think it is good practice to also consider and discuss potentially drawbacks instead of just presenting the "potential" (aka $$$) .
I have not considere this as a critical item in my thinkings since it is so plain obvious.
They have shown way deeper thought processes than that and I totally trust them to have considered this issue.
A valid concern @fuchsfalke