Simple bitcoin explanation video:


http://www.weusecoins.com/

I'm curious what others have to say. Seems like it could work though...

Search is your friend.

Hint, you're about the 10th guy to mention this amazing idea that nobody has thought of in the last three months.

In before merge with all the others.

your ponies are slow

Most people don't want to gamble at the poker tables, and then gamble again that their bitcoins will still have value a couple of months in the future.

He's not suggesting that we play for/with bitcoins though. However, much like many of the payment options that have used over the years, once it gets sniffed out by our government, it will instantly stop being available to us. Not that it will ever be available as a cashout method to begin with, though.

You wouldn't nec have to. You deposit BTC and site gives you equivalent chips in USD. You play, whenever you cash out you get whatever BTC equiv of current exchange rate. Because it is so quick to buy/move BTC no one (neither player nor site) needs to hang onto BTC and take currency risk.

That being said, as soon as there is a good futures market, sites could always hang onto significant quantities of bit coins and hedge against loss.

I would guess that the risks of having a payment processor seized and losing money that way are a lot greater than the risks of using BTC as an exchange mechanism (not as a store of value or currency and of itself -- just a floating exchange rate)

I'm not interested in Bitcoins at all. A site where you played for gold would be kinda cool as a novelty though.

betco.in sucks. lots of disconnects when pot was big. also some times i had the action buttons but my hands were not shown. bad place.

Wow BTC is down! I haven't checked in a couple weeks but it was at 14.xx per BTC on MtGox market. I saw them back when they were 3-4ish I think, maybe I'm wrong and have really skyrocketed since then. I look now after seeing this thread and they are trading at 6.xx per BTC ahh maybe the BTC rush is over (or they are just getting hit/down like the stock markets right now)

http://bitcoincharts.com/markets/

from a different thread.

Is this legit or just some shill bs?

OK i just searched the rest of his posts and it appears that every one of his posts are about bitcoin.

man up and play you p*ssy!

BitCoin is up down up down. Remember it was trading at like $4.xx per BTC, then had a boom. It was $11-$14.xx a month ago I remember, now today it's back at $10.xx

Oh yea, no I wouldn't play on there, but thats my personal opinion.

So is there a site that has some traffic using this or no ?

yes its legit and i literally cannot believe more people have not jumped on this.

if i was a freaking shill id be giving direct links with my referral code, i could make a ton of money, but i'm not doing that, am i? all i did was mention that btcontilt, which anyone can google and find out for themselves, has 100nl running LITERALLY every night, some nights 200nl. equivalent stakes in bitcoin, of course, so its 10btcnl.

i have another account, but im posting anonymously about bitcoin because, well, um, thats kinda the whole point of bitcoin

yes, the software problem is solved...btcontilt has very few bugs, and it just came out a few weeks ago, traffic is increasing quickly

So are they worth nothing or the value of a goldbrick now?

I don't know enought about bitcoin yet to comment on it, but I just wanted to remind or inform people ITT that the all mighty dollar (a fiat currency backed by nothing) has lost 95% of it's value since 1913, the year the federal reserve was created.




http://www.aier.org/research/briefs/...-of-the-dollar


The reason for this loss of value is inflation; increasing the money supply. QE3 is right around the corner more than likely ...

http://www.reuters.com/article/2011/...76Q0VI20110727



If anyone is looking for a stable currency for their poker career, it may be time to look somewhere else than the U.S. dollar.

I tried betco.in and found it to be extremely buggy. Lots of disconnects.

I've been playing on btcontilt.com and it is way better. Haven't had any issue with lag/disconnect. Despite the interface being browser-based, it is really nice and actually quite Stars-like.

One problem I noticed last night, I tried switching seats from LP to EP, and it made me post bb, which I think is not correct. There is also no "favorite seat" option (this is why I was switching). I think they also only run 1 game at each level, instead of spawning a new table once the first one fills up.

There's obviously not a ton of traffic but theres always a game micro nlhe running, and a few nights ago there were 2 guys playing the equivalent of roughly $4/$8 hu nlhe.

+1 to the interface being nicer

source: their homepage

how more people are not on this i dont know.

also sealswithclubs is a 3rd site that is nice as well..same interface as btcontilt but less action right now

Again, there need not be a currency risk with bitcoin poker if sites only use it as a medium of exchange and give you chips worth XX amount of USD and then when you cash out, sell you btc at that day's exchange rate. It shifts the currency risk onto the site, but there are fairly easy ways to mitigate that.

The currency risk is not something that must be dealt with. If you wish to play online poker for bitcoins, you will accept it, if you don't, you don't simple as that. It's not a very big deal as it could go up as easily as it could go down, and its so incredibly easy to liquidate btc....if you know ppl that wish to buy them....which will only increase as time goes on

This sealswithclubs site is actually preferable, since it has insta deposits....20btc buyin nl (like ~100nl) is running now on both sites, and seals actually has more players...6vs5

btcontilt .. First you need a better software than a cheap game!! Plus players a word of advice, while you register, make sure to make your passwords up, Because that backend of that system is so good, that the Admin can see the username, emails and password. Password are not encrypted ,So please take my advice. Never use any information you have on Any other website, or bank accounts or anything. Please be advised. I know someone who managed the same software. So i am making a point.

i'm really drunk right now but sign me up

i'm really drunk right now

That's because it's a ponzi scheme and several people on several occasions decided that a few hundred $k was worth more than keeping the value of bitcoin up. :gasp: whodathunkit