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Old 07-22-2011, 12:03 AM   #51
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Question Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

Simple bitcoin explanation video:


http://www.weusecoins.com/
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Old 07-22-2011, 12:39 AM   #52
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

I'm curious what others have to say. Seems like it could work though...
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Old 07-22-2011, 12:46 AM   #53
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

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.
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Old 07-22-2011, 01:03 AM   #54
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

your ponies are slow
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Old 07-22-2011, 01:06 AM   #55
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

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.
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Old 07-22-2011, 01:10 AM   #56
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

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.
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Old 07-22-2011, 09:24 PM   #57
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Re: Bitcoin Withdrawals for US Players – Instant low fee cashouts

Quote:
Originally Posted by txdome View Post
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.
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)
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Old 07-22-2011, 09:26 PM   #58
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Re: Bitcoin for online poker?

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

Last edited by Maso777; 07-22-2011 at 09:32 PM.
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Old 08-06-2011, 06:36 PM   #59
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Re: Bitcoin for online poker?

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.
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Old 08-06-2011, 08:12 PM   #60
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Re: Bitcoin for online poker?

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/
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Old 08-17-2011, 05:14 PM   #61
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Bitcoin poker? Legit?

from a different thread.

Quote:
Originally Posted by MyPoorLil5850s View Post
I've had it up to HERE with you cowards, begging for legislation. We're past that. Black Friday was a direct attack on us, a direct FORCEFUL attack.

Strike back with what force we can. Play online poker for bitcoin. Its freakin easy. Its such a huge threat to these scumbags in power, if people do it en masse.

Or sit around and wait for people who don't care about YOU and YOUR FAMILY and your ability to produce for them, and let these idiots just grab more and more power, wherever they see fit, and maybe when they get around to it regulating this relatively small industry.

I mean seriously come on; btcontilt has 100nl running regularly; betcoin has 100plo. You have no excuses but your own ignorance. Bitcoin IS money. I've cashed out from these sites and gotten money in the bank account.

Oh, and as a slight bonus, the players are literally worse than the party poker days.

But yeah, enjoy sitting here mentally masturbating over harrah's . com. I gotta go grind.
Is this legit or just some shill bs?
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Old 08-17-2011, 05:19 PM   #62
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Re: Bitcoin poker? Legit?

OK i just searched the rest of his posts and it appears that every one of his posts are about bitcoin.
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Old 08-17-2011, 05:20 PM   #63
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Re: Bitcoin poker? Legit?

man up and play you p*ssy!
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Old 08-17-2011, 06:47 PM   #64
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Re: Bitcoin poker? Legit?

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.
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Old 08-17-2011, 07:24 PM   #65
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Re: Bitcoin poker? Legit?

So is there a site that has some traffic using this or no ?
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Old 08-18-2011, 08:28 AM   #66
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Re: Bitcoin for online poker?

Quote:
Is this legit or just some shill bs?
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.

Quote:
OK i just searched the rest of his posts and it appears that every one of his posts are about bitcoin.
i have another account, but im posting anonymously about bitcoin because, well, um, thats kinda the whole point of bitcoin

Quote:
So is there a site that has some traffic using this or no ?
yes, the software problem is solved...btcontilt has very few bugs, and it just came out a few weeks ago, traffic is increasing quickly
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Old 08-18-2011, 08:45 AM   #67
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Re: Bitcoin for online poker?

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

Last edited by IamPro; 08-18-2011 at 08:46 AM. Reason: talk about gambling within gambling lol
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Old 08-19-2011, 08:31 AM   #68
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Re: Bitcoin Poker - Play online poker with unfreezable money

Quote:
Originally Posted by starvingwriter82 View Post
On topic: I doubt I'd be comfortable using bitcoins for online poker. I do this for a living, and having to go through the extra hassle + the fluctuating value of the bitcoin makes it far less reliable as a regular source of income.

Quote:
Originally Posted by ak7062 View Post
The issues are volatility and confidence of currency holders. Bitcoin is backed by nothing, and all it will take is a few more of these scares to make its value plummet beyond repair.

Quote:
Originally Posted by DeathAndTaxes View Post
b) bitcoin has a lot of volatility. Say a pro decided to play poker on a bitcoin site. He deposits $15,000 gets 1000B and turns that into 1400B. yeah 40% return except if the volatility means exchange rate is now $12=1B when he converts back into dollars he only made $1,800 profit or 12.8%. A pretty tough pill to swallow.

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 ...

Quote:
LONDON | Wed Jul 27, 2011 6:14am EDT
A fresh round of U.S. monetary easing may even do more harm than good for long-term investors as another flood of easy money into fast-growing emerging economies risks refueling oil and commodity price inflation, sapping consumption and growth.

Prospects for a third round of the Federal Reserve's quantitative easing program (QE3) grew this month after Chairman Ben Bernanke said the central bank was prepared to ease further if economic growth and inflation falter again.

Nearly in one in two fund managers surveyed by Bank of America Merrill Lynch this month said QE3 was 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.

Last edited by LirvA; 08-19-2011 at 08:37 AM.
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Old 09-06-2011, 06:31 PM   #69
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Re: Bitcoin for online poker?

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.
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Old 09-06-2011, 07:38 PM   #70
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Re: Bitcoin for online poker?

+1 to the interface being nicer

Quote:
There is a little secret that the world of poker doesn’t know about yet: how awesome Bitcoin poker is fro online play. For months I’ve been hearing about how poker sites that accept U.S. poker players are tugging them left and right, not accepting deposits for days or weeks, holding onto funds, and of course, all the paperwork that some sites require to withdraw. Here are a couple reasons why YOU should play Bitcoin poker:

Now-a-days it’s cheaper than ever to play Bitcoin Poker since the price per bitcoin is so low. Buy in now while the price is low!
Faster withdrawals and deposits.
Your chips are safe with us, other poker sites have had their bank accounts frozen, that can’t happen to us.

We hope you’ll stick with us and not switch over to whatever new competitor we have this week. We’ve been here for months operating an amazing poker room and I hope you’ll stay with us!
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
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Old 09-09-2011, 01:46 PM   #71
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Re: Bitcoin for online poker?

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.
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Old 09-09-2011, 05:01 PM   #72
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Re: Bitcoin for online poker?

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
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Old 09-10-2011, 09:45 PM   #73
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Re: Bitcoin for online poker?

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.

Last edited by exp9382; 09-10-2011 at 10:03 PM.
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Old 09-11-2011, 01:32 AM   #74
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Re: Bitcoin for online poker?

i'm really drunk right now but sign me up

i'm really drunk right now
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Old 09-11-2011, 11:26 AM   #75
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Re: Bitcoin for online poker?

Quote:
Originally Posted by Turb0Licious View Post
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/
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
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