I am pretty sure it is. I got very close to getting owned too.

Basically yes, other than you won't need the original electrum seed to have electron work. It just will.

And yeah, once you claim your bch it's yours you trade or spend it how youd like.

Someone, please explain for the Nth time (sorry for bothering), or just give a link to a prior explanation, why cryptocurrency investment / trading has become so fashionable among 2p2ers.

I understand that it's comfortable for US players to hold part of their bankrolls in BTC as it facilitates their cashouts. I get that cryptocoins have some intrinsic value as the most secure payment methods, though this value is very dependent on governments' willingness to tolerate them. I understand that poker players are naturally more drawn to high variance activities than non-gamblers are. I just don't get why non-US players spend so much time specifically on crypto market analysis when there are many other markets, incl. the gambling company stock one where gamblers likely have better fundamental insight than outsiders.

Thanks.

its also very simple to get set up and trade cryptos, and you can play for penny stakes or millions.

Show me one investment that has a higher ROR this year than the big cryptos....

How was that hard to understand?

And you already said it, it's really nice to move money around via bitcoin for poker.

If I win the most chips with 72o today, it won't mean that 72o is the best poker hand.

There are objective reasons to believe that investing into cryptos are +EV, but there's not enough evidence for them being as astronomically profitable in the long run as they've been in the last few years.

People will say the same thing about any investment vehicle regardless of how long its been around.

You're looking at it as "why is bitcoin so overvalued?" When a lot of bitcoin investors are looking at it as undervalued. It's high risk and high reward.

Well I quoted you in an eailer post and forgot to respond...lol

The article you posted says they are estimated to have half, just sayin.

So after the BCH thing here I've looked into the byteball stuff, looks likes there's another drop here in 3 days?

From some quick research does this article basically sum up what one would need to do to get some free byteball?

https://freedomnode.com/blog/76/how-...mens-giveaways

Again, I don't know where you're getting that from. There's nothing about what they own in hat article, just random conjecture

Generally I don't respond to FUD anymore because it's soul draining but this idea that a very few people possess the vast majority of bitcoin is just patently false.

Winklevoss have said they own about 1% of all bitcoin back when there were about 12m coins, they said this in interviews leading up to the first s1 application for COIN.

Just recently it's been known that coinbase had about 1m coins in cold storage with 9m users.

1%= 50%


http://www.businessinsider.com/the-w...itcoins-2013-4

A lot of people here think that investing in crypto has a high EV or at least it is an interesting social experiment.

Short:
If you understand the reason people play the sunday million (there are various), then you understand what makes bitcoin interesting to poker players

The real answer is somewhere along these lines:

- Poker players are by nature more among speculative types, "gamblers", understanding of risk reward

- Online poker players are also typically more tech-savvy

- The perceived edge at trading is 0, unless you study hard for a long time (like most things in life). I said "perceived". It is relatively easy to get started in bitcoin and arguably you can compete on a more even playing field than you would at the stock market where you are at an information disadvantage (same in BTC, i just assume not as high and since it's a new field, it's not that hard to "know" the developers, CEOs etc.... while i have a hard time believing Tim Cook, Eric Schmidt etc will have any time for you . They do have time for the Carl Icans and other heavy weight people

- Socially many poker players belong/associate to groups loosely called "libertarian" (the early bitcoin) and "technology saves the world" (most people joining the last 2 years, more represented in ETH)

- Poker players know how difficult it can be to send larger amounts of money, especially our friends from the country of the free

So if Bitcoin were my business and I was looking for one of the first groups of adoptions, poker players would be right there on the list behind drug dealers, ransomware hackers and prositutes.

I am actually a bit surprised that BTC has not been adopted on more sites. Poker sites 'should' be interested, but then again, let's not assume we know the business better than them.

The cryptobubble is a dream come true for traders. The only problem is how high the exchange fees are. The sky-high exchange fees make it really hard to be profitable as a short-term day or swing trader.

Thanks for the analysis to all those who've replied to me

I hadn't thought about poker in terms of the annualized ROR. For the microstakes, it turns out sky-high - a decent share of self-taught regs would be able to double up a $100 bankroll within a few days (most probably) in soft formats like jackpot SNGs. The issue is that the returns are diminishing very fast - doubling up, say, a $100K bankroll takes a few months (if not years) and usually a ton of coaching.

So those who've already made a lot of money from poker are struggling to find ways to invest their wealth with a high ROR, and some of them start trading instead of just playing poker for a few more years and retiring. Those who don't have a 5+ figure wealth yet are surely better off studying poker than trying to beat the markets.

That's exactly what I'm wary of - awesome markets tend to get raked or taxed to death rather fast (so does the poker 'market').

Here is a screen shot of the article YOU posted:



Read the bold under the picture and tell me that it doesn't imply they have a ton of bitcoin.

And here's the link YOU posted, so you can't think I'm just making it up:

http://www.businessinsider.com/bitco...nership-2017-8

Same damn thing. I don't care at all how much they have, was just pointing it out.

And grats on finding a 4 year old artice from the same damn website that now, clearly, says they might have half.



You literally post an article, don't notice the bolded under the main pic and tell me I'm spreading FUD for quoting something you post, what a ****ing joke.

You are really lacking critical thinking skills

A caption underneath a picture > a direct quote

The best reason poker players like BTC is they get paid in 24 hours. Not 1 month and have to hope the check clears.

As far as BTC not being adopted. The main sites that serve the USA have adopted it big time. I know ignition actually forced you to use BTC once you used it once. Goes to show how much they prefer using it.

I am aware, but this is because the alternative is just a LOT worse. If i remember correctly, FTP had to pay 20-30% to channel money from the US to the site. I imagine the cost of getting US players today is similar, so obviously, BTC is a HUGE efficiency.

You see less of it on Euro sites, maybe the hassle is not worth the 3-x% savings, with all the other downsides (no one-click deposits), extra customer support, possible regulatory issues (money laundering).

Some China action runs on BTC, but it's not a home run (aka pokerstars). I am still positive that the market will get competitive enough.

So if I now send bitcoin from my wallet using trezor/electrum/bitcoinqt, this doesnt move the bitcoin cash tied to same address? To move bitcoin cash from these addresses I need to get a proper wallet for it and import correct private keys to it?

Seems like a pain in the ass and kinda risky at the same time..

All of this is correct

I'm just really annoyed I moved my bitcoin to a wallet because it now seems like the worst place to have it for the bitcoin cash. I wish I would have kept at least some of it on an exchange.

So wait, is there a way for the uninformed like me to get Bitcoin Cash if our regular Bitcoin are on Blockchain? I just use it to get funds on or off poker sites and didn't realize there was a bunch of craziness going on.

Yes, you should be able to get your private keys from bc.i. Then you can use them in a wallet to trade in your bcash.

Beware if you have privacy concerns and have multiple received transactions, it may leak your privacy if you try to sell them all together. Though you may not care about this.

From the looks of it, I had coin at nitrogensports and they are not giving any credit for bcash. I didn't expect it to even be this high, so a 10% increase in Bitcoin holdings would have been nice, oh well.

If I were to sell Bitcoin Cash coins originating from Bitcoins I've held for a long time, would that be a short term or a long term capital gain? I couldn't find any good info after a quick google search