Bookie Exchange

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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Before my feedback...Doesn't it take an hour to process a BTC transaction?
PBSA wrote:
Thu Apr 05, 2018 5:13 pm

there is a huge amount of uncertainty in how blockchain and existing legal systems interact.
This is clearly a great concern and one which is highly significant. I've no doubt the paper trail will be outstanding, but without a legal system to assist with any irregularities, it's of little reassurrance. Your faith in the likelihood that a this huge uncertainty can be resolved, tested in law, and proved to be effective, within a realistic timeframe is either profound or you think most people won't think it's important.
PBSA wrote:
Thu Apr 05, 2018 5:13 pm

Our organisation (PBSA) is a non-profit organization
I'm not quite sure why you felt it necessary to mention that. It, like 'standards association' have a very positive image admittedly, but it's just a very tax effective (ie zero tax) way to structure a startup the requires a lot of early stage reinvestment isn't it?

I don't expect you to answer questions about the negative effect of Bookie on tax and the levy, that's a question for the operators and users of Bookie rather than it's writers.
PBSA wrote:
Thu Apr 05, 2018 5:13 pm

no single person or entity has control over those funds.
PBSA believes this will offer the most transparent and secure way to hold users' BTC funds.
Ultimately, your faith and fate lies in BItcoin, legislation, wide public acceptance, stability, industry acceptance, a vast user base, and more. It's a straightforward gamble and that acca within 5 years must be well over 3 figures. I'm going to wait and see.

You needn't reply I'm sure you're busy, you only came to see if anyone had questions about your shiney new software and ended up with much bigger questions about the consequences of companies like Google, Amazon, Starbuck and Bookie.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

iambic_pentameter wrote:
Fri Dec 15, 2017 12:39 pm
https://bookie.exchange/

Received an email from them yesterday to say that beta testing will begin in early 2018.

The site has a good FAQ section on it and worth a look.

Iambic
I thought I'd be fair and give it a proper look......I didn't mock this screen up.

Even thought I haven't signed up I still got a slight "Where's my money gone?" panicky feeling. :shock:

The Betfair page looked so safe and cosy after that one.
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obitus
Posts: 24
Joined: Tue Apr 05, 2016 1:00 pm

They have updated their site address: http://www.bookiebeta.com/
PBSA
Posts: 4
Joined: Wed Mar 28, 2018 11:11 am

>>Before my feedback...Doesn't it take an hour to process a BTC transaction?

Yes, that's right, it's about an hour.
Once a user has deposited BTC on to Bookie, everything will happen on the Peerplays blockchain, so that one hour transaction time doesn't come into play again (until a user wants to withdraw BTC, in which case there will be a similar BTC transaction time). Bookie's internal accounting will keep track of user balances, exposure, etc and this is updated every 2 to 3 seconds (which is the rate at which new blocks are produced on the Peerplays blockchain).

>>it's just a very tax effective (ie zero tax) way to structure a startup
>>the requires a lot of early stage reinvestment isn't it?

Non-profit organizations are common in blockchain because they offer a reasonably appropriate organizational structure for the support and development of decentralized blockchains. For example, the Bitcoin Foundation [https://bitcoinfoundation.org/] and the Ethereum Foundation [https://www.ethereum.org/foundation], which are non-profits that drive development and standards for the two biggest blockchains in the world by marketcap.
PBSA
Posts: 4
Joined: Wed Mar 28, 2018 11:11 am

hi obitus.
Thanks for putting up the link.
weemac
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Joined: Mon Sep 16, 2013 8:16 pm

White text on black background = unreadable due to hurting eyes.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

PBSA wrote:
Thu Apr 05, 2018 5:13 pm
If you mean disputes over whether a bet was placed or not, or at what time the bet was placed, or how it got matched, etc - every transaction on Bookie is publicly broadcast in real time.
That broadcast will make interesting reading. There's several ways to link your Bookie account, Bitcoin address and your real identity so it shouldn't be long before the dealings of key individuals are widely known.
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