It's pretty much the exact same thing, he just made a calculated decision to take a little more risk than if he knew the guy for a few months or years.

And my understanding is he mitigated the risk by sharing it with the other pro in the game, which again is common.

And the only reason anyone ever loans money is greed. If it's to another winning reg it's because you know the risk is near zero and that they'll reciprocate when you show up at a great game short of cash. If it's to a spot, it's because you want to play more with them.

If it's for a car or a house, it's because you will pay interest.

Whoa whoa whoa, telling poker players to look a few years into the future is not cool, man.

from a personal perspective, tim is right, from a global one, he's not. poker is a ****ty game financed by addicts with money they don't have so the sooner the whole industry collapses the better it is for humanity. and yes I know the degens will find other ways to lose the money and maybe some buddha poker players would have donated some of their winnings but all in all its one black sheep off the table and it will be gone for good.

That is true.

No but many are.and tbeyre also degens who need their gambling fix.

And to top it off most poker players are pussies who won't do anything to get their money back.

If you loan money without any security and it goes wrong, no point crying about it.

This post is pretty accurate.there are gonna be a lot of 30 year olds with no savings and a huge resume gap in a few years.But even before black Friday there were tons of poker players who made damb good money but went to Antoine Walkers financial planning school.

Tim's general point is right but nobkdy can ir should blame galfond.nobody is turning down millions.but people making videos for beer money are fools.

Assuming this is true then vinivici is an idiot

Not sure if this was said, but why does this type of lending never occur under written agreement? How can someone who has accumulated such wealth (even under these circumstances) not understand such a simple gesture for securing the loan?

The problems I had with the Pokernews article were that:

1. His argument would've been stronger if he didn't name anyone. Once I realized Galfond was going to out someone who scammed him, the first half of the "op-ed" read more like a pretty introduction than a substantive point.

2. By naming one occasional high-stakes player that no one has ever heard of he is helping "protect" a few dozen (experienced) people from getting scammed. Whereas outing a well-known tourney reg, for example, could protect hundreds if not thousands of less-experienced people from getting scammed by them (maybe thousands is a stretch, but I have no idea how quickly a degen like Chino moves up and down the Rio hallway asking for a stake, nor how much he travels).

Wow.

Somewhat??

Of course you are. But changing your mind and thinking it's a bad idea now is one thing; calling out others and making them out to be a blight on the poker industry for doing the same thing you did is quite another.

lol

Not sure what there is to troll.

I have even had similar threads on this forum.

http://forumserver.twoplustwo.com/54...-info-1567646/

Theres not that much difference between me and Galfond really im sure he was playing in the same 10c/20c live game til not long ago

As I said I am acutely aware of what Phil is going through. If anyone would like to ask some questions I will make myself available

I'm a little bit surprised it's even legal to loan someone $250k without any sort of documentation. Seems like a potentially easy way to launder money.

If he had put a disclaimer that he had made training content before would it have better?

I get what you're saying. but imo it's like saying that I can't say kids shouldn't deal drugs and the ones that do are a great harm to their surroundings just because i sold drugs when i was younger?

Obv a little extreme, but i dont know why anything vini has said loses validity just because it's hypocritical in hindsight.


edit- indeed, i misread. you were clear

Perhaps I wasn't clear enough in my post. Saying it's a bad idea now is fine. Belittling those who do it is a little rich.

too many terrible posts to quote.

it was impossible to know the future of the game. everyone was so inexperienced in life. faulting anyone for making strategy videos to earn income is so dumb.

also to you people saying not to loan money obviously haven't been in a big game in a situation like that. you share the risk with the other pros in the game. its very +ev

i don't berate those who do it. then i'd be berating you and the other mods who are doing what they do for commercial purposes (which to be fair makes a heck of a lot more sense than those who do it for fun)

i've berated like 4 guys who have all been the face or CEO of million dollar companies and usually only when they do something ridiculous like make incredibly obv blog posts and op eds about being nice to the fish to keep the game upbeat so we can all make more money and dont loan literally a ferrari to some random degenerate fish or ask for kickstarter money for a documentary about the poker boom that they helped ether and then quit for the greener pastures of documentary making.

Guys. Vini is making some really good points.

Lmfao jkjk

You can't really justify your actions like this and feel the way you write about Galfond, can you? Its just not rational at all.

My poker career ended (almost 4 years ago btw, it doesn't sting anymore) because I had a lot of mental issues that go back to a number of different things. Poker wasn't the correct path for me then, and I am better for the experience. I am not bitter in the slightest towards the industry like you seem to be, and I don't have a penny of poker money left that isn't in an IRA.

You made a ~million from your parents basement, there is nothing to be bitter about.

TIL im a highstakes endboss. word.

Try to take out pen and paper in the middle of nosebleed game where the fish already lost hundreds of thousands, is possibly tilted and wants to continue and see what happens.

lol

Tim is right. This isn't going to get fixed. Everyone has been saying it for years and now it's finally here: The house is going to burn to the ****ing ground.

Accept it, and make the best possible choices you can with the information you have.

Coordi- Of course people are bitter about this. They have a right to. Hell, i'm bitter about this myself.

You see a problem, you know it's going to get worse. You know it's going to ****ing explode if it goes unchecked. There's lots of possible solutions smart people have been throwing around for years and yet nobody does a god damn thing about it. They would rather see the damn thing burn than sacrifice short term gains.


This just isn't a phenomenon exclusive to the poker industry. Take a look at global warming. Some scientists are even questioning if our species is even going to be around because of this and yet we just keep plugging along driving our cars, eating meat and dairy in every meal, ruining our environment etc etc.