what is a bitcoin and how do they work?

supaslick88

supaslick88

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What the heck is a bitcoin? how does it work? If it is any good why is there only this one sealswithclubs site? Someone please explain. Thank You.
 
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MAX101

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I've only read a little bit about it when it first came out, it's hard for me to explain it,from what I understood you buy bitcoins and you store them on your computer,then you can use them on certain poker sites that except them and to buy things online from merchants that except bitcoin, but they recently arrested the owner of a site who dealt in bitcoins because it was actually a drug dealing site, thats about all I know,for me it's sounds like one of those to good to be true deals.it was a way of getting around the restrictions the usa goverment imposed on the usa banks on making deposits into poker sites
 
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ChipEaterMan

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Here are some videos that explain in an easy way what bitcoins are:





Enjoy!
 
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IvanShovski

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Why would anybody buy bitcoins? They are not considered legal tender in any country, they are not widely accepted as a form of payment, and their value can fluctuate as much as thirty percent in a single day.
 
C

cAPSLOCK

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Why would anybody buy bitcoins? They are not considered legal tender in any country, they are not widely accepted as a form of payment, and their value can fluctuate as much as thirty percent in a single day.

The answers are really fairly simple... you even answered one yourself. People speculate in them (your fluctuations), people see the potential of a decentralized uncounterfeitable currency. Some see bitcoins comparing to FIAT as email comparing to the postal service. Some believe in the political philosophy behind a decentralized currency. Others like a currency base that is only BARELY inflationary at first, then eventually stable to deflationary as opposed to the massively inflationary nation backed paper currencies.

They are instantly spendable.
I can send them to an address in ANY country in 10 minutes or so.
They can be relatively anonymous.
Conversely the blockcain (ledger) is entirely public.

Really the advantages the technology behind bitcoin gives us is an idea that will never go away.

This IS the money of the future. Even if "Bitcoin" fails some cryptocurrency will rise to take it's place.
 
WEC

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Yes, human life is filled with shit that really isn't worth anything that became valuable in peoples minds and used as money....

Anatolian obsidian (12,000 BC)
cattle
sacks of cereal grain
cowry shells
beads
Precious metals
Banknotes
 
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WizardRubic

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You forgot USD. Or any representative or fiat currency for that matter.

Representative/fiat money becomes valuable because it's able provide a system to make trades faster and easier. That's all any currency is.
 
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cAPSLOCK

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Yes, human life is filled with shit that really isn't worth anything that became valuable in peoples minds and used as money....

Anatolian obsidian (12,000 BC)
cattle
sacks of cereal grain
cowry shells
beads
Precious metals
Banknotes


chips?
 
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JFKblownaway

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Come play poker for them at Seals With Clubs.

There are freerolls every hour.

Ad me as your refer-er!

https://sealswithclubs.eu/

I can only find fastest finger freeroll but I don't get it? And are there any tourneys that are pw free?

Software sucks but if the freerolls are good I'll play
 
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WizardRubic

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I can only find fastest finger freeroll but I don't get it? And are there any tourneys that are password free?

Software sucks but if the freerolls are good I'll play

There are 99 man SNG tournaments. There used to be hourly freerolls and captcha freerolls every 2 hours. I guess they got removed.

The 99 man freerolls aren't always there anymore. Seem to happen around 9 est and later these days.

Boozehoundpoker freerolls are good in payout amounts. You gotta earn points from the site by completing viruses though :/
 
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WizardRubic

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Completing viruses?

Potentially. Haven't gotten one yet though. But I do system restores daily. Been doing that daily and I haven't gotten a virus in years. Maybe it's a bit overboard.
 
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JFKblownaway

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Potentially. Haven't gotten one yet though. But I do system restores daily. Been doing that daily and I haven't gotten a virus in years. Maybe it's a bit overboard.

Yeah....just a tad lol:pcguru:
 
pokertroll

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I for one never got on the bitcoin wagon-this concept of the bitcoin just doesn't sit right with me plus I don't want to be conned out of a bankroll.
 
guicor30

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What the heck is a bitcoin? how does it work? If it is any good why is there only this one sealswithclubs site? Someone please explain. Thank You.

is a virtual currency.
the bitcoin is not a legal tender.
 
trekmaster

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Guess its time to look into opening a bitcoin account as it seems there are alot of these sites starting to open .
 
alext9000

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In some countries they use already bitcoin ATMs,so everybody should start mining for bitcoins.In a few years this curency will boost up and who knows maybe goes global
 
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