Idea: Offshore gambling as gateway between real and electronic money

Thomas Shaddack shaddack at ns.arachne.cz
Sat Apr 17 11:35:49 PDT 2004


Adoption of anonymous e-money is to great degree hindered by the lack of
infrastructure to convert this currency to/from "meatspace" money.
However, there is possible a method, using offshore gambling companies.

There may be a special kind of "gamble", that looks from the "outside"
like regular betting, but where the participants to certain degree know
the betting results, allowing use of their "e-money" to gain insight into
the "game" - using "meatspace" money as a bet and "e-money" to buy the
knowledge of cards/numbers/whatever in the value of the e-money that
allows a sure win of that amount.

In other words: Without use of the e-money, the game is a "normal" game,
with appropriate probability of win. With the e-money, the player can buy
the 100%-certain win of a given value.

Conversely, a "rigged game" with 0%-probability of win could be used for
depositing the "real" money and converting them to "e-money".

Is this approach possible?
Is this approach feasible?
Where are the hidden problems there?





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