Quote:
Originally Posted by krabis
Another thing i was thinking about this room and seem sketchy, not scam but sketchy.
How would this room close off if there is need to do it?
Any fiat poker room would pay out you your usd to your ewallet or bank and after doing it start it closing operations.
Let say CoinPoker 6 months/year in don't show enough profit or have some legal challenges (or some other reason) and they have to close down - they pay out all players their CHP but because poker room is closing no one wants buy them from you on exchanges and you are holding CHP token you cannot sell as there is no use for it anymore. Why would anyone buy it if there is no poker room for it.
Seems kinda sketchy you don't know what you do in this situation and you need trust closing poker room do something about it like buy your CHP for some price (probably lot lower then u won/deposited as it price would crash after announcement that poker room is closing down) or something.
There is no reason to hold CHP tokens except as much as you need for buy-ins. The rest can be in a diversified porfolio of crypto... BTC, ETH, LTC, DASH, XMR, whatever... that will be quite stable and very likely appreciate nicely in the next few years.
As an analogy, there is no reason to hold cash except as much as you need for buy-ins. The rest can be a diversified portfolio like bank, real estate, stocks, gold, whatever. Humans have learned to manage these basic financial instruments... so it's possible that humans will also learn to manage a simple crypto portfolio.
Even quality crypto projects take months to roll out, get the bugs out, code enhancements, get the token trading on multiple exchanges... so patience is a huge plus for crypto investors. CoinPoker has a legit roadmap, a working product, lots of cash, a quality Dev team... which puts it in the top 10% of crypto projects. Most crypto projects are waaaay sketchier. These are junior tech startups like you see on venture exchanges.
It's unfortunate that there's only one Tier III exchange listing (allcoin), but trading is picking up with about $400,000 in CHP traded today and the price is back up HIGHER than the ICO level of 0.00022 ETH.