Two Plus Two Publishing LLC Two Plus Two Publishing LLC
 

Go Back   Two Plus Two Poker Forums > >

Notices

News, Views, and Gossip For poker news, views, and gossip

Reply
 
Thread Tools Display Modes
Old 01-20-2018, 07:11 PM   #851
Bobo Fett
2+2 Ad Man
 
Bobo Fett's Avatar
 
Join Date: May 2006
Location: Canada, eh!
Posts: 45,797
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post
There already exists many crypto projects in which there are dividends paid out. What poker players are to realize is that similarity between rakeback paid to CHPs holders and dividends.

Breakout poker LITERALLY pays out to stakeholders, so they certainly pay the equivalent of dividends. I'm not really sure what the disagreement is. This is the reality of industry now.
The disagreement seems to be with yourself:

Quote:
Originally Posted by Nooseknot View Post
its is perfectly possible and likely that coinpoker and other sites will add dividends that pay out to their chips holders in automated contracts.
So, it's possible that sites could, or they are now? If they are now, how is that working? Is this actual dividends based on currency you own, or is it rakeback, which you claimed earlier was the same as dividends?
Bobo Fett is offline   Reply With Quote
Old 01-20-2018, 07:24 PM   #852
Nooseknot
adept
 
Nooseknot's Avatar
 
Join Date: Oct 2017
Posts: 825
Re: Decentralised poker is the future

Breakout poker pays you to hold their coin, so its a dividend and not rakeback for playing. My basic point is that this is what this technology allows for. It is quite easy to set up, and you can make complex algorithms that are not so possible with existing sites.

And effectively it is all the same thing, it is quite in the sites best interests to "share" the wealth in order to solve the "players boycott" problem

Recall the difficulty of getting players to migrate, if the smart players leave, the profitability goes up, and so there is a sticking equilibrium.

But the introduction of a transferable utility changes the game from zero sum to not zero sum. The model bitcoin used to bootstrap is perfectly applicable to poker, and coinpoker for example has implemented it.

These sites will literally pay you to play on them more so than any time before. It is the solution.... the introduction of a "poker currency".
Nooseknot is offline   Reply With Quote
Old 01-20-2018, 09:22 PM   #853
1standlastquestion
newbie
 
Join Date: Apr 2016
Posts: 25
Re: Decentralised poker is the future

What I meant to post here.

From their white paper:

"Our token will provide increased value for the initial holders of the CHP coins
Holders of CHP post ICO will benefit from an increase in the price of CHP as demand for coins increases.

The only way for any poker fan to play at CoinPoker is to buy coins at market rates. If the site grows, as
outlined above, so will the price of CHP coins, this will result in more utility and use on the platform.

CoinPoker will release 500 million CHIPS (CHP) tokens into the market (see 3. Token Sale) and this amount
will be fixed. Newcomers to the site after ICO, or those who have lost and need to chip up again, will
need to buy additional CHP. To do this, they will need to buy CHP on the exchange from holders of
CHPs looking to cash out, these transactions are done at market rates.

This structure of fixed supply and increasing demand will cause the price of CHP to rise facilitating a significant return-on-investment for early adopters giving them more playing power on the CoinPoker Network.

Here’s simple example: if there’s 1,000 coins in the market spread evenly between 20 players with 50
coins each. Statistically if 5% of poker players are winners in online poker, eventually all the coins will end
up in one player’s wallet. So the remaining 19 players will have to buy additional tokens in order to play
and this demand will increase the value of all tokens."


Clever and lucrative but not total control of

"The health of the CoinPoker Platform and all technical developments are subject to changes in the
interpretation, application and regulation of gaming laws in multiple jurisdictions around the world.
Sudden changes can impact the utility and value of the coin and the health of the CoinPoker network.

Although this document details the CoinPoker Platform and its functionality, the CHP coin is not limited to
use only on this platform. The value of the coin will depend on the health of the platform and the adoption
of its use by the general public, which can be impacted by many factors that are beyond the control of
CoinPoker"

For all intent and purposes, it works just as the dollar used to when it was based on gold. Times were saving money was thoughtful as it would increase in value instead of the today depreciation, with the added benefit of being able to make a more educated guess on its future appreciation, as it is, in essence, a business driven currency.

Also there is no need for dividends if there are capital gains.

Last edited by 1standlastquestion; 01-20-2018 at 09:29 PM.
1standlastquestion is offline   Reply With Quote
Old 01-20-2018, 09:55 PM   #854
Nooseknot
adept
 
Nooseknot's Avatar
 
Join Date: Oct 2017
Posts: 825
Re: Decentralised poker is the future

Quote:
Originally Posted by 1standlastquestion View Post
What I meant to post here.

For all intent and purposes, it works just as the dollar used to when it was based on gold. Times were saving money was thoughtful as it would increase in value instead of the today depreciation, with the added benefit of being able to make a more educated guess on its future appreciation, as it is, in essence, a business driven currency.
This is exactly the insight I am trying to lead us to collectively understand. The free market of competition and the floating exchange price of differing poker sites tokens, brings us to a situation comparable to a gold standard.

Then the price trend of the tokens reflects the underlying otherwise hidden effective rake, creating a signal for players to identify which are the trustworthy sites to play on.

It is this signal the players need to bring profitability back to the games and to bring down the de facto monopoly that killed them.

Awareness to this concept, will set the movement towards it on fire. When a few established and influential regs understand it.

Last edited by Nooseknot; 01-20-2018 at 10:05 PM.
Nooseknot is offline   Reply With Quote
Old Yesterday, 05:51 AM   #855
Poker Clif
Pooh-Bah
 
Join Date: Jan 2007
Location: Muskegon, Michigan, USA
Posts: 5,328
Re: Decentralised poker is the future

Maybe I'm missing something, or picking at nits because the overall concept is the best thing since sliced bread, but there is something that seems to be missing in all of this macro conversation about cryptocurrency, the poker economy and both servers and players in places all over the world.

If this is decentralized, who is in charge of the little details that make a poker site work? What authority grants the license, or will that even matter? If I think that I see collusion or multi-accounting, to whom do I send my report?

Perhaps most important, will this in any way affect government regulation? Keep in mind that playing online is a felony in the state of Washington.
Poker Clif is offline   Reply With Quote
Old Yesterday, 07:28 AM   #856
PTLou
Jellybean
 
PTLou's Avatar
 
Join Date: Nov 2008
Location: Charlotte, NC
Posts: 3,397
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post
I did not say Tony G will make you whole if you lose. You maliciously put those words into my mouth as if I said them and created a big strawman.

People wanted out of their investment and Tony DID make them whole. He DID. I'm losing respect for your posts, don't do what you are doing.
It was not I who put words in your mouth it was this guy.


Quote:
Originally Posted by Nooseknot View Post
I typed with Tony G and he gave me a strong impression, he would literally refund your investment himself. He said those players would get paid. If they don't. I am confident he would pay them from his pocket. I'm not a shill, I literally believe that from the dialogue I had with him.

He believes in this, and I think he is right.
PTLou is offline   Reply With Quote
Old Yesterday, 09:13 AM   #857
PTLou
Jellybean
 
PTLou's Avatar
 
Join Date: Nov 2008
Location: Charlotte, NC
Posts: 3,397
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post

Awareness to this concept, will set the movement towards it on fire. When a few established and influential regs understand it.
On a more serious note...

The day of the reg is over, and has been for some time and is not coming back.

The technical solutions you discuss are very interesting but more from a theoretical standpoint, but will likely not change anything in practice.

Any technology that does come forward will be focused on maximizing profit, vs catering to the wants and needs of regs.

Regs and sites are in competition for the same rec buyins... always have been and always will be.

In boom boom days, they could co-exist.

That is no longer true. No technology will change that basic market dynamic.
PTLou is offline   Reply With Quote
Old Yesterday, 09:33 AM   #858
Bobo Fett
2+2 Ad Man
 
Bobo Fett's Avatar
 
Join Date: May 2006
Location: Canada, eh!
Posts: 45,797
Re: Decentralised poker is the future

Quote:
Originally Posted by Poker Clif View Post
Perhaps most important, will this in any way affect government regulation? Keep in mind that playing online is a felony in the state of Washington.
Online poker is online poker is online poker. If it was illegal to play before, decentralizing it doesn't change that, at least not for the player.
Bobo Fett is offline   Reply With Quote
Old Yesterday, 10:03 AM   #859
btc
centurion
 
Join Date: Dec 2017
Posts: 160
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post
You have done nothing in this thread but ignore the content of the dialogue and shill your own favored crypto coin. If you continue I can guarantee the mods will ban you.

I did not say Tony G will make you whole if you lose. You maliciously put those words into my mouth as if I said them and created a big strawman.

People wanted out of their investment and Tony DID make them whole. He DID. I'm losing respect for your posts, don't do what you are doing.

That they created a new token, gives them the ability to do these things programmatically. It is quite obvious this is the plan. What they did was keep everything as simple as possible for their launch. There already exists many crypto projects in which there are dividends paid out. What poker players are to realize is that similarity between rakeback paid to CHPs holders and dividends.

Breakout poker LITERALLY pays out to stakeholders, so they certainly pay the equivalent of dividends. I'm not really sure what the disagreement is. This is the reality of industry now.

No not at all. I am saying if the majority of CHPs are held by a group of poker players and the CHPs are retaining value well, the developers and team behind coinpoker have GREAT interest in listening to the holders of the CHPs.


Its an OBVIOUS and natural progression.

edit: also PTL I didn't but any money into coinpoker, I told you they put up a ton of CHPs for freeroll, it was a negative rake bonanza, you could win but you couldn't lose. I won a couple thousand etc. playing against players that didn't know how to play poker...because crypto poker attracts a ton of players new to the game.
I have not shilled anything, but I do counter your nonsense with observational data anyone else can gather by doing a simple search.

fwiw PTLou's insight about regs is accurate, but you will just continue with your ignorance and rhetoric because you have no practical experience.
Go on sucking Szabo's blick until you get a mouth full.
btc is offline   Reply With Quote
Old Yesterday, 10:26 AM   #860
Feelsbadman
newbie
 
Join Date: Jan 2017
Posts: 23
Re: Decentralised poker is the future

I think time will answer to all of this questions.
Feelsbadman is offline   Reply With Quote
Old Yesterday, 11:33 PM   #861
Nooseknot
adept
 
Nooseknot's Avatar
 
Join Date: Oct 2017
Posts: 825
Re: Decentralised poker is the future

Quote:
Originally Posted by Bobo Fett View Post
Online poker is online poker is online poker. If it was illegal to play before, decentralizing it doesn't change that, at least not for the player.
Its mostly illegal to serve not to play. You aren't using the word/phrase decentralization in proper context imo.
Nooseknot is offline   Reply With Quote
Old Today, 03:04 AM   #862
Bobo Fett
2+2 Ad Man
 
Bobo Fett's Avatar
 
Join Date: May 2006
Location: Canada, eh!
Posts: 45,797
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post
Its mostly illegal to serve not to play. You aren't using the word/phrase decentralization in proper context imo.
Which is why I specifically stated "If it was illegal to play before" and "at least not for the player", responding to his example of Washington state, where it is illegal to play.
Bobo Fett is offline   Reply With Quote
Old Today, 08:48 AM   #863
Gzesh
old hand
 
Join Date: May 2011
Location: UTG
Posts: 1,378
Re: Decentralised poker is the future

Quote:
Originally Posted by Nooseknot View Post
Breakout poker pays you to hold their coin, so its a dividend and not rakeback for playing. ....

.
Sorry, your description and conclusion are both 100% inaccurate.

When BRK, the Breakout coin, was mined, a reserve was created for loans to be made to interested projects utilizing the coin. The loan program and repayment terms are publicly disclosed.

http://www.breakoutcoin.com/coinsale-brx/

Breakout Gaming, is a Malta-based business and Curacao-licensed gaming company, which also runs casino games on a UK licensed network, runs poker freerolls, pays rakeback, and otherwise uses BRK to market its games. Breakout Poker runs on the GG Poker Network.

https://breakoutgaming.com/promotions/

https://breakoutgaming.com/about-breakout-gaming/

The Breakout Gaming games are NOT decentralized, but accept all sorts of deposits, including BRK. Breakout Gaming offers an array of games and options, as well as poker, where permitted.

The BRK coin has a decentralized blockchain, on which run transactions in the BRK coin, and powered by Proof of Stake. It trades every day on Bittrex, among other exchanges.

Last edited by Gzesh; Today at 08:54 AM.
Gzesh is offline   Reply With Quote

Reply
      

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Forum Jump


All times are GMT -4. The time now is 10:15 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Copyright © 2008-2017, Two Plus Two Interactive
 
 
Poker Players - Streaming Live Online