Your question appears to be based on the premise that CoinPoker is currently accepting "deposits". Is that right?

They are conducting an initial coin offering, but the people who have participated in that have not received their tokens (and when they do, I expect they will of course be able to both deposit and withdraw them).

Giving away free tokens to allow people to test the software before the product is fully live (and before deposits and withdrawals are fully enabled) is a pretty ordinary and uncontroversial activity. Allowing people to test the software before the cashier function is implemented is really not a bad thing.

PokerStars has a very large number of customer. This means that they can provide a large number of different games, each with sufficient players to make them sustainable.

Obviously, CoinPoker does not have the same volume of players as PokerStars. Consequently, CoinPoker cannot offer the same diversity of games today, because they will not be sustainable.

Hi, as you make statements for the company.
This is not true. People who buy in the initial offering get tokens right away, which they can use to buy ins in poker tournaments and cash games.

Sorry - my mistake!

Yes, taken from the deposit page of your poker client:



From an email that your company sent on the 20th Jan:



And from the corresponding Medium article:




Well in that case you best let whoever is in control of CHP contract address know that CHPs have been flooding out of it for at least the last 6 days!

https://etherscan.io/address/0xef906...489c#tokentxns

I'm not sure why you're pretending 9-max is some sort of super niche game type. It's obviously not. As I type this, on PokerStars at 25NL and above, there are 57 fully seated 9-max NLHE tables, and 131 fully seated 6-max NLHE tables. So, ~30% of tables are 9-max, and ~39.5% of players are playing on 9-max. CoinPoker currently has 24 active NLHE tables. That's obviously enough of a player base to sustain several 9-max tables.

Insider selling... just like stocks, but with stocks the trades have to be reported to SEC, and lots of rules as to when insiders can sell and how many shares (for public companies).

wild wild west for Coins/Tokens. no rules/regs.

Hello,
Our lawyers official opinion is that the CHP will be available globally and can be purchased and tradable via reputable third party exchanges regardless of the jurisdiction of the purchaser; however, the CHP can only be used on the CoinPoker platform from places where it is legally permissible to do so.

Hello,
Our lawyers official opinion is that the CHP will be available globally and can be purchased and tradable via reputable third party exchanges regardless of the jurisdiction of the purchaser; however, the CHP can only be used on the CoinPoker platform from places where it is legally permissible to do so. In other words, the CHP can be used to play poker on the CoinPoker Platform by any person who has rightful possession of the CHP and is situated in a Permitted Jurisdiction. Permitted Jurisdictions, include (a) jurisdictions where Online Poker is legal because it is considered a game of skill; (b) Jurisdictions where Online Poker is licensed by a legitimate authority, or (c) Jurisdictions where Online Poker is not governed by the laws of the jurisdiction where the person is situated.

I'm interested in your lawyers official opinion on the fact that Coin Poker doesn't have a gaming licence in any jurisdiction in the world currently?

So I don't know if anyone else has had this problem, but I "invested" in the pre-ICO via Spectrocoin and now have quite a few CHPs but have no way of transferring them to CoinPoker or anywhere else. They are just locked away on Spectrocoin with no way of moving them, and support keeps giving me the run around on how to move them........ Beware this doesn't sound good......

pretty sure they aren't on any exchange yet. If you had taken a couple seconds to read their site....

24 total over all stakes? I can definitely see why they might not want to segment that much further yet.

I think this is all good. They are trying, its difficult to pull off. The software is good, the idea is good, and there is a team here with backing. If they can maintain a deflationary chip, there will be a paradigm shift.

The Pre-ICO was done via Spectrocoin...... you could purchase CHPS only through it originally..... that's also why my portion of Pre-ICO chips are locked up on SpectroCoin and cannot be moved.....

This looks extremely scammy. Couple things here that make sense when you think it through logically. The reason they invented their own worthless crypto was to hop in on the run and dump crypto madness- essentially "free" money. There is no other reason to invent their own crypto when they could have used eth for deposits.

The fact that they're not offering services to the us is also troubling. Imo that means there's a very high chance of failure / doubt after the ico. If it crashes, it will look like a ponzi (regardless of their true intention). It's well known the us doesn't put up ponzi bull****, that's why they're not offering it to us residents

I won .475 ETH in a 300 CHP buyin 50 ETH added tournament on CoinPoker a couple of days ago using CHP I won in freerolls. I ask them to send the ETH to my address on Kraken as I don't really feel like holding ETH, I want to trade it for another coin. They tell me they can only send to an ETH wallet. Fine, I get an ETH wallet. They say I have to verify my ETH wallet, and to do that I need to send them some CHP from the wallet.

How can I send them CHP when the ICO is closed, and I can't withdraw the CHP from my account to my wallet? There is no mechanism for me to get CHP into my wallet, and they tell me I have 5 days to verify the wallet with them and get my ETH or they'll keep them. They take 12 hours to answer my emails, and then just repeat themselves and don't answer my questions. Who approves these nonsense policies? Do the people answering your support emails speak English? Are you just trying to not pay me my prize?

Go to the main lobby and in the upper right, to the left of the gear icon is 'wawllet', click on that and it will give you two specific things to copy and past into your eth wallet. Go to https://coinpoker.com/how-to to find the specif'c instructions on how to set the wallet up to accept the tokens.

They have live admin on their slack channel. Don't know if I can post that link, but it is easy enough to find.

Unfortunately the "verified wallet" requirement, was in the T&C's when they announced those special 50ETH added tourneys.

That was the reason i couldn't play them myself, coz i don't own a single crypto to convert to eth to buy at least 1 chp in ico. i have only chp from freerolls. As i am not crypto savvy i don't know if they did this to avoid scams OR they just wanted to pay the less they could on these tourneys.

There is great reason. You have stated there is no reason, but I can show that to be flawed thinking. The crowd sale and limited token creates a central banking mechanism in which coinpoker can can control the value trend of the CHPs token. I explain this in greater detail here: https://forumserver.twoplustwo.com/2...7/index36.html

It is very novel, and this new model will have a significant impact on quality of games offered, whether it is coinpoker or other competitors that arise with the same model.

It is not troubling that they have lawyers that advise them against trying to serve the US markets at this time. And they are working on that, but some laws and political sentiments will have to change in tandem.

A ponzi is not possible or profitable in a free banking realm, you can't hide the underlying fundamentals of the company or bank from the price signal the token creates. Any counter example you give will be an example of not a free market. To create your own coin, and to pump it and dump it, isn't actually very profitable, you just end up being your own bag holder. But if think of certain whale poker players that might have invested a few million in a project they believe in...there would be not much fear of such a dump, a few million isn't really that much in this context.

Have you tried the software? Its still just coming out of testing phase, but I think its not fair to criticize without realizing there is seemingly a competent team of devs.


Don't use exchanges for your poker related crypto transactions, its not a good idea. Always use a seperate wallet. Go into their telegraph chat, there is good support there (sometimes it takes a view minutes to get an admins attention). I can see that you had CHPs from freerolls, you used them to win ether...and now you apparently are pointing out you have no CHPs left in your coin poker account to verify. Do you have zero CHPs in your coinpoker account, because you only send then a very small fraction of 1 CHPs, like .00008 (their software client tells you the amount).

Anyways, I don't they are planning on keeping your ETH if you can't get it verified by then. It's probably a miscommunication and they are saying they will hold onto for you if you can't get verified over the next few days or something.

Don't take private help, unless you are SURE its and coinpoker admin, and it will saying so and their account will have a purple color. And don't give your private key to anyone. Already people getting ripped off in the chat.

Needing to verify is a fine requirement. But I wouldn't accept that if a player wasn't verified before entering the tourney or they don't verify within 5 days then they don't get paid...that would seem quite arbitrary (and unnecessary as you could program that mistake away from the client side, and it is not how a poker service works).

They don't 'offer/solicit' to the US and its residents because US law makers, especially the SEC, have been aggressively going after crypto companies. The SEC has issued statements fairly regularly since last summer. If a company solicits US citizens, they are at risk of the feds trying to seize or lock-up their assets. I would bet that any credible attorney, throughout the world, would recommend their client not solicit in the US for anything crypto related, unless they have a registration statement on file.

That doesn't mean that any company that a US resident gets involved with is being honest or scamming.

I don't get the talk that US can't play, I've seen plenty of Americans at the tables. So is it meant like "US is not allowed(nobody looks so come and play anyway)".

No, I have tons of CHPs still, but the instructions indicate that I need to send CHPs from my ETH wallet, but I don't see a mechanism to get CHPs from my account to my ETH wallet. Their support has ignored this part of my question repeatedly. I'll try out the Telegram thing.

Hello thank you for your message. The USA have special regulations and our lawyers official opinion is that the CHP will be available globally and can be purchased and tradable via reputable third party exchanges regardless of the jurisdiction of the purchaser; however, the CHP can only be used on the CoinPoker platform from places where it is legally permissible to do so. In other words, the CHP can be used to play poker on the CoinPoker Platform by any person who has rightful possession of the CHP and is situated in a Permitted Jurisdiction. Permitted Jurisdictions, include (a) jurisdictions where Online Poker is legal because it is considered a game of skill; (b) Jurisdictions where Online Poker is licensed by a legitimate authority, or (c) Jurisdictions where Online Poker is not governed by the laws of the jurisdiction where the person is situated.

Hello thank you for your message,
CoinPoker gave away 200 ETH during this promotion and it was stated in the T&C of the ETH added tournaments that the only thing you needed to do was to verify your wallet in order to receive ETH prizes. In order to do that, you needed to buy as little as 1 CHP (or even less) during the ICO. Otherwise, you could compete buying-in with CHP in order to win CHP prizes, but not ETH prizes. As for withdrawals, they will become possible as soon as CHP hits the exchanges in February.