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#1
09-30-2006, 01:06 AM
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Overreacting Much, No?
Not a legal expert so take this for what it is, but I am of the opinion that everyone around here is vastly overreacting to this news. The passing of this bill is definitely not good news for us, but these "withdraw money?" or "oh [censored] move to another country" posts are just ridiculous dont you think?
From what happened today, the only direct consequence is that the fed now has to set a system of regulations in place within 270 correct? It is already known that banking institutions and much of the financial world is viciously opposed to strict measures of enforcement for these regulations as it causes a lot more work for them. Aside from the main United States banks, institutions like Firepay and Netteller are used for other purposes aside from online gambling, and it just seems highly highly unlikely that the government will put in place regulations that would completely shut these businesses down. This would be like saying "paypal has to go because we have found people using it to pay for drugs on ebay, which is illegal." For those who are slamming the poker sites and the online gaming industry for lack of initiative throughout the process, dont you think that you are vastly oversimplifying and underestimating the financial prowess and awareness that a multibillion dollar industry is sure to have? It is completely impossible that if every average person who browses this forum can say "holy [censored] this [censored] up online poker forever omg" that the online gambling companies would not have realized this far far in advance. These aren't Party Poker customer service towelheads that are calling the shots on what to do, it's their highly paid analysts that are responsible for maintaining their profit margin for a living. That being said, again, this definitely is bad news, but not yet nearly as bad as most people seem to think, imo. For those of you having a seizure right now, chill the [censored] out. [/rant] 
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#4
09-30-2006, 01:09 AM
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Re: Overreacting Much, No?
I agree with you. That being said, I still have taken over 1/2 of my bankroll out of Party and put it into Neteller.
I like to think of it as diversification I guess.
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#6
09-30-2006, 01:12 AM
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Re: Overreacting Much, No?
mlagoo, if trying to calm people down and trying to look at things from a logical standpoint is a crime, then so be it, but nothing you're doing around here is helping in any way more than this. If you have any reasoning to believe that what I have isnt the case, then state them.
Also, I see no other threads trying to calm everyone down, only "ZOMG IM GONNA FLIP MY [censored] SHT OVER A WALL AND MOVE TO AFRICA" threads. Please leave.
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#7
09-30-2006, 01:13 AM
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Re: Overreacting Much, No?
[ QUOTE ]
From what happened today, the only direct consequence is that the fed now has to set a system of regulations in place within 270 correct? It is already known that banking institutions and much of the financial world is viciously opposed to strict measures of enforcement for these regulations as it causes a lot more work for them. Aside from the main United States banks, institutions like Firepay and Netteller are used for other purposes aside from online gambling, and it just seems highly highly unlikely that the government will put in place regulations that would completely shut these businesses down. This would be like saying "paypal has to go because we have found people using it to pay for drugs on ebay, which is illegal." For those who are slamming the poker sites and the online gaming industry for lack of initiative throughout the process, dont you think that you are vastly oversimplifying and underestimating the financial prowess and awareness that a multibillion dollar industry is sure to have? It is completely impossible that if every average person who browses this forum can say "holy [censored] this [censored] up online poker forever omg" that the online gambling companies would not have realized this far far in advance. These aren't Party Poker customer service towelheads that are calling the shots on what to do, it's their highly paid analysts that are responsible for maintaining their profit margin for a living. [/ QUOTE ] Your entire argument is flawed. Neither the banking industry nor the major sites have produced a major public push against this legislation. There have been some small groups of bankers that have griped occasionally, and a few of the sites have put together a "Support the PPA" drive here and there. But both groups have basically done nothing publicly in the past year, and I don't expect either of them to do anything in the next 270 days. It defies common sense, but it is true.
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#8
09-30-2006, 01:16 AM
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Re: Overreacting Much, No?
What measures would they have to have taken in order for people like you and I to be aware of their opposition? Create ads on tv? If you think a multibillion dollar business is going to go down the tubes because they defied common sense and didnt really give a [censored] about something that any 2p2 forum lurker would have realized, I think that's what's flawed.
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#9
09-30-2006, 01:17 AM
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Re: Overreacting Much, No?
[ QUOTE ]
mlagoo, if trying to calm people down and trying to look at things from a logical standpoint is a crime, then so be it, but nothing you're doing around here is helping in any way more than this. If you have any reasoning to believe that what I have isnt the case, then state them. Also, I see no other threads trying to calm everyone down, only "ZOMG IM GONNA FLIP MY [censored] SHT OVER A WALL AND MOVE TO AFRICA" threads. Please leave. [/ QUOTE ] i know its hard to comprehend that your thought process isn't amazingly original, but this exact sentiment has been expressed about 356345 times in the several threads started tonight on this forum. but i'm sure this is the one where it will finally sink in for everyone.
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