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#1
10-05-2006, 04:15 PM
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Possible loophole?
I know the people that own http://www.d-carat.com : Basically the way I think it works is they have diamonds stockpiled. As a customer you go to the website and buy a share of diamonds (a d-carat).
Now under the current legislation would it be illegal for sites to accept these d-carats and cashout in d-carats? Another good thing about the d-carat is that they offer anonymous debit cards which some of you would think of as a plus. Only problem is right now I don’t think they have enough diamonds on hand to satisfy the demand from poker players, but in a short time period I am sure they would be able to stockpile a lot more diamonds. Also the whole operation is an offshore operation with no ties to the USA. What do you guys think? edited out the URL, too Spammy for my tastes. updated again to restore it per later feedback in thread -P 
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#2
10-05-2006, 04:22 PM
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Re: Possible loophole?
If your friend's d-carat site is legal, Neteller will be legal. All third party payment processors will be legal, if that's the case.
This has been rehashed a couple times before in the various Neteller and "possible workaround" threads...
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#4
10-05-2006, 04:40 PM
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Re: Possible loophole?
Its essentially free advertising for a website via this forum, that's generally discouraged.
I don't see any value in people knowing what the product specifically is as part of the legislation forum, its just value for your buddy's site in the free advertising. Not that big of a deal, but given that its already a topic that's been covered here a couple different ways (will third party payment processors such as Neteller still be around?) I don't see the value.
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#5
10-05-2006, 07:08 PM
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Post deleted by Mat Sklansky
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#6
10-05-2006, 07:16 PM
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Re: Possible loophole?
Degen i agree exactly. This is NOT like neteller as it is just a money transfer. You buy another product(in this case diamonds) and transfer the product to the site where the site redemes them. I havent seen anything else like this offered.
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#7
10-05-2006, 08:43 PM
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Re: Possible loophole?
[ QUOTE ]
So the CEO of TruePoker can start a thread called TruePoker Still Taking US Players and bump the thread until the end of time, and that is ok...along with a ton of other mentions of products etc. I don't think OP was trying to promote the site, he's asking if it will work. I would like to hear what people have to say on the topic, and I think for that they would need to be able to view the site... [/ QUOTE ] Convincing enough for me: Site linked by OP was: http://www.d-carat.com/
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#8
10-05-2006, 08:47 PM
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Re: Possible loophole?
I still stand by my above post though. D-Carat.com is serving as a third party payment processor in the scenario you've laid out. if third party payment processors are allowed, that's going to include Neteller. As such, there's really not any necessary "workaround". You're still going to be able to use Neteller to deposit, most likely...
For further example/discussion, see this thread: Interesting Funding Idea from Sportsbook.com
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#9
10-05-2006, 08:57 PM
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Re: Possible loophole?
It all comes down to this simple fact.....if the average Joe who watches poker on TV and doesn't know a straight from a flush can't come home on Friday evening and easily create an online poker account and put $100 into it without jumping thru all kinds of legal loopholes.....online poker in the US is over.
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#10
10-05-2006, 09:09 PM
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Re: Possible loophole?
No question.
I don't think the average Joe will have any trouble using Neteller as an intermediary. But who knows... all speculation at this point.
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