desrever: desrever: Without going too much into details, did you consider a strategy to keep that website open/immune from seizing?

Yes, as explained in OP we will host the frontend only in countries where privacy is respected and enforced by the law.

This is a nice question from community member, followed by nice answer. I will use it to deliver you answer.

So, what would happen if a government found your servers?

Nothing.

Which government would be responsible in this case?

No government has rules or authority over NuBits and Teehe did not offer service in any nation state specifically.

We broke no laws, this is important to comprehend. Teehe is not illegal.

Even if authorities do seize the server and get around heavy disk encryption, what would they see; a database full of soccer game results and current odds.

Naturally we will have backups of database and wallets and the important stuff will never be on that server.

Technology has come far, Teehe is really not endangered from authorities if we utilize technology properly.

Our threats will come from within crypto-community (hackers, scammers, ddos) and reliance on Nu network and it’s ability to hold the peg.

“Volatility causes professional gamblers to avoid use of digital p2p currencies. Volatility risks made it impossible for them to bet with Bitcoin.”

Are you absolutely sure of it? Common sense might suggest this is true, however assumptions derived from common sense derailed many startups. Can you test/prove the assumption? Did you surveyed professional gamblers? Does anybody on the team have experience with professional gambling, especially using bitcoin?

Yes on every question.

Have you talk to failed bitcoin betting businesses ?

No, as there are no such. At least not some that failed due to business model.

Professionals gamble with Fiat, that is a fact; 99.89% of gamblers gamble with Fiat. Bitcoin is still very much irrelevant in gambling business. Stay with me, I will give you a tour now.

Our managers know this from experience, as they have gambled online before.

What is the gamblers itch we are trying to scratch?

Money deposit/withdrawal fees;

Credit card company will take fee, PayPal/Skrill will take a fee, gambling house will take a fee. Those can reach up to 20 USD on each transfer in any direction. Most of people gamble with less than 50 USD at the time. So they loose up to 50% of their stake just to transfer the money.

Money transmission delays;

It will take up to two days to get your money to gambling house, even more if you need to withdraw.

Fiat to Fiat conversion fees;

Most of gambling houses accept Euro/US Dollar. If customer uses another currency, credit card company or PayPal/Skrill will rob you on conversion rate.

Easy taxation on behalf of authorities;

Authorities ignore small time players. However if you score big win, like 5-10-20k Euro governments will try to tax it. Sometime taking as much as 50%. With Fiat you can not hide this money, with cryptcurrency you can.

Total loss of privacy;

Your bank, credit card company and goverment can track your activity easily.

Seizure of customers funds by bank or credit card company.

This happens sometimes, you can read about it on gambling/betting forums. For no obvious reasons credit card company or PayPal will just take your funds and keep them for months as you try to get it back hopelessly.

What do we solve? All of the above.

We handle USD without handling Fiat, thanks to NuBits.

Customers can use Bitcoin to reach us; Bitcoin is for us what credit card company is to classic gambling house.

Bitcoin is easy to acquire in most of the world, you can buy it in numerous ways ranging from credit cards to ATM’s.

It is also highly liquid and easy to exchange back to Fiat. Best of all you can use Bitcoin to purchase stuff online or even pay the bills.

We allow customers to bypass classic financial institutions while retaining their habits.

imho, in relying mainly on word of mouth for marketing

Indeed, it is poorly worded. Thanks for noticing, we will re-phrase it. It is the case however that we expect our customers to be from similar social circles due to nature of cryptocurrency and crypto economy.

Finally, where did the name Teehe came from?

We have based the name on: http://www.theoi.com/Daimon/Tykhe.html

Adopted it to English language and modern demographics.