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Bitcoin And Poker


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interesting article

 

Poker players and gaming companies around the world are finding themselves increasingly enticed by Bitcoin currency for their financial transactions

 

 

Using Bitcoin has several advantages for poker players. The first advantage is the speculative aspect of Bitcoin. Recently, a young Norwegian sold some of the 5,000 Bitcoin he purchased for $27 during the currency’s infancy for over $800,000, because the value of bitcoins had increased dramatically. Anyone who thought that value was significant would have been premature, because by mid-November one bitcoin had rocketed to more than $900, and there is the potential that it will keep increasing. This opportunity for increase in value makes it possible for poker players to potentially gain a return on investment (ROI) by buying a bitcoin at a lower price and watching the value of the purchase go up (or potentially down) based on the scarcity of or demand for this cryptocurrency.

The second advantage poker players who use Bitcoin have is getting money on and off Bitcoin-driven poker sites. Whereas traditional currency-driven models require a payment processor and extended periods for cashouts, Bitcoin lets players transfer money on and off sites and dramatically increases the speed of these transactions.

The third advantage for poker players using Bitcoin-driven sites is that these sites let players from all over the world play with one another while current "dollar-only" sites do not. For example, U.S. players who are residents of Nevada, Delaware and New Jersey can play online poker in their respective states, but anyone can play on Bitcoin sites.

In the same way a poker player tries to evaluate how to beat an opponent by playing the “meta-game” (how players play over time and their patterns) and how to maximize the information available (cards on the tables, betting patterns, tells) while a poker hand is being played out, companies and players are trying to evaluate the implications and opportunities of the emerging Bitcoin market on poker.

 

 

see link for article I just took a few pieces to share

 

 

http://www.pokernews...ide-1-16960.htm

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part II

 

http://www.pokernews.com/news/2013/12/bitcoin-guide-2-17049.htm

As Bitcoin becomes more and more of an emerging currency market, it should be something that is on every poker player's radar. In the PokerNews Guide To Bitcoin, Part 1: we discussed what Bitcoin is and how it can relate to poker. For Part 2, we will look at the advantages of Bitcoin on the online felt.

To give PokerNews readers a better understanding of the pros and cons of Bitcoin poker sites, we reached out toMichael Hadjuk, owner and CEO of Infiniti Poker, which offered a soft launch of the site on Nov. 27, 2013. We also spoke with top Toronto-based iGaming lawyer and accountant Stuart Hoegner, who has been researching and writing about Bitcoin since 2009 while representing several major clients (gaming and otherwise) in this emerging sector. He is also general counsel to the Bitcoin Alliance of Canada.

 

Pros of Bitcoin in Online Poker

 

 

1. Transferring Money On and Off the Online Poker Sites Works Better Than Current Models

2. Player Anonymity

3. Bitcoin Poker Sites Allow U.S. Players to Play With People All Over the World

4. The Opportunity for a Larger ROI for Bitcoin Poker Players

5. The Potential for Large Amounts of Rakeback for Players

6. Swimming with the Fish

see article link

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  • 3 months later...

Hi everyone!

 

I'm new here and I'm very interested in bitcoin poker...I have seen this thread asking about it but it is old and I would like to know recent impressions about it...

 

do you think bitcoin poker will have any future? Nowadays bitcoin price is falling down, but I really trust in this technology!

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Will Bitcoin poker sites start to crop up? Yes

 

Will the major sites start to accept Bitcoin? Probably not. I say probably not, but here's the thing. For Stars/Tilt/Party, what would be the chief reason they would get involved in what could possibly be a volatile digital currency over the next few years? To reach American players that can't have funds sent directly to them. And they are not about to put their necks back out there for the DOJ to chop off. Party will be in when online poker gets legalized immediately. Stars and Tilt will eventually get tossed in, but seeing as how they got caught and Party didn't, that won't happen immediately. None of these three are going to be stupid enough to do that again.

 

Will it eventually catch on? Probably. There is some benefit for poker sites to do so. Less hassle with 3rd party payment processors who may or may not be scrupulous, lets the player control how they get their money, it's virtually untraceable. But it poses risks to both the poker sites and the players, if a site's wallet gets compromised, they're out money. Same thing with players. But surely there's security measures that can be put in place for that.

 

I think it'd be good to consider for poker sites. But I don't see it making big waves in the near future.

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  • 2 weeks later...

I have been playing poker this time in Sealswithclubs and one thing is for sure...even when the bitcoin price is falling down and then, suddenly goes up, and then down again... even in this unestable sittuation, people still playing poker there...the traffic is almost the same so, it would be because of the advantages of playing with bitcoin.

 

No matter if the price is low (you can overcome this handicap by playing differents tables)....the fact is that anonymity, low rakes, low in/out commisions, globalization (play against all the world again) and so on are the things that made possible that bitcoin become the new poker money.

 

what do you think?

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  • 2 weeks later...

...I hope so?

 

Anymore to say? :(I am really interested to know the opinion of experimented poker players... I am new at online poker and I would like to start playing poker with btc.Thanks

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I'm just not sure what reply you were looking for. Yes, BTC is a promising currency for online poker for the reasons that you mentioned.

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  • 4 months later...

I have been playing 6 months in Seals With Clubs and finally I have discovered a new (apparently, they are not online yet) poker room:

 

http:\\bitlandpoker.is

 

I just wanted to share this with all of you because I am really dissapointed with SwC software and servers and I was looking for some new bitcoin poker rooms.

 

Hope you will join!

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  • 2 weeks later...

I have been playing 6 months in Seals With Clubs and finally I have discovered a new (apparently, they are not online yet) poker room:

 

http:\\bitlandpoker.is

 

I just wanted to share this with all of you because I am really dissapointed with SwC software and servers and I was looking for some new bitcoin poker rooms.

 

Hope you will join!

 

I've just registered on this poker room, the promotion looks really good, but I want to wait until check de sw and how the servers work to say my opinion...

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  • 7 years later...
On 12/13/2013 at 1:37 AM, rcgs59 said:

interesting article

 

Poker players and gaming companies around the world are finding themselves increasingly enticed by Bitcoin currency for their financial transactions

 

 

Using Bitcoin has several advantages for poker players. The first advantage is the speculative aspect of Bitcoin. Recently, a young Norwegian sold some of the 5,000 Bitcoin he purchased for $27 during the currency’s infancy for over $800,000, because the value of bitcoins had increased dramatically. Anyone who thought that value was significant would have been premature, because by mid-November one bitcoin had rocketed to more than $900, and there is the potential that it will keep increasing. This opportunity for increase in value makes it possible for poker players to potentially gain a return on investment (ROI) by buying a bitcoin at a lower price and watching the value of the purchase go up (or potentially down) based on the scarcity of or demand for this cryptocurrency.

The second advantage poker players who use Bitcoin have is getting money on and off Bitcoin-driven poker sites. Whereas traditional currency-driven models require a payment processor and extended periods for cashouts, Bitcoin lets players transfer money on and off sites and dramatically increases the speed of these transactions.

The third advantage for poker players using Bitcoin-driven sites is that these sites let players from all over the world play with one another while current "dollar-only" sites do not. For example, U.S. players who are residents of Nevada, Delaware and New Jersey can play online poker in their respective states, but anyone can play on Bitcoin sites.

In the same way a poker player tries to evaluate how to beat an opponent by playing the “meta-game” (how players play over time and their patterns) and how to maximize the information available (cards on the tables, betting patterns, tells) while a poker hand is being played out, companies and players are trying to evaluate the implications and opportunities of the emerging Bitcoin market on poker.

 

 

see link for article I just took a few pieces to share

 

 

http://www.pokernews...ide-1-16960.htm

I believe bitcoin came about as a result of the advent of the blockchain. What will happen to bitcoin and how to use it, everyone decides for himself. And there are a lot of ways to make money from cryptocurrency. But the fact that as a result of the development of the blockchain there are many other technologies, such as smart contracts, NFT, and many others. And these are already much more important advantages and benefits. And these all find applications in other areas of finance and business. But since the development of technology opens up opportunities for all sorts of fraudsters and hackers. It becomes clear that the protection of one's finances should be corresponding. That is why crypto-security audit becomes a real necessity for every business connected with blockchain.   https://hacken.io/researches-and-investigations/security-audit-for-blockchain-projects/
Buying bitcoin to wait for its growth, that is, investing in bitcoin, is like making an ordinary investment, if you know what you are investing in, then feel free to do it.

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  • 2 weeks later...

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