This is a discussion on Will cryptocurrencies change the world of poker? within the online poker forums, in the Poker Deposits & Withdrawals section; The emergence of the new virtual currency called cryptocurrency is revolutionizing the world of poker. Cryptocurrencies and poker go hand in hand
Cryptocurrencies and poker are
The emergence of the new virtual currency called cryptocurrency is revolutionizing the world of poker. Cryptocurrencies and poker go hand in hand
Cryptocurrencies and poker are increasingly linked, both of which are used massively in the network in recent years. The cryptocurrency is the perfect currency to invest in poker, and players are taking advantage of this link. Several years ago, when this revolution began, some beginners began to invest Bitcoins without knowing what they were really betting. Some time later they realized that this new currency was going to have a great weight being able to obtain high profits in their bets. Although this type of currency is not the most recommended in the world of poker.
The use of cryptocurrencies has been limited to certain economic areas located in a kind of nobody's territory, where it is allowed to use the mode of payment that the client wishes. This is exactly what is currently happening between the alternative economy and poker increasingly closer to becoming an official union.
Ethereum, the cryptocurrency of poker
With the opening of a poker room, the use of a cryptocurrency called Ethereum has expanded, as it is one of the most capitalized virtual currencies in the cryptocurrency market. Ethereum is going to change the world of online poker, as happened at the time with the growth of Bitcoin.
Many consider Ethereum as the new cryptocurrency promise, competing with the winner in the economic field, Bitcoin. In addition to being a cryptocurrency, Ethereum is considered a platform that goes beyond. In this case, this virtual currency, unlike others, there is a limit to be reached. In other words, with Bitcoin there will come a time when it will reach the maximum circulation, which will cause a drop in prices. So, this deflation of Bitcoin could have negative consequences for the economy. This would never happen with Ethereum.
With Ethereum there is no creation limit, as long as there are people who use it. For this reason, it seems that this currency is more likely to become a more stable economic resource being able to replace traditional currencies (euros, dollars, pounds ...).
A stream that is increasingly followed by players is online betting. Some prefer to invest in the stock market or in cryptocurrencies, but others know that through online betting you can get money at the moment without leaving home. Hence there are more and more pages of online games. Many of them accept cryptocurrencies, as we have said before. You can also bet with the mobile, which further facilitates the freedom to bet wherever and whenever you want.
I do not think that bitcoins will have a very wide use in the future. They will never replace paper money. I perceive bitcoin only as an intermediary between online wallets.
Never say never! That's hell of a long time. Short term you might be right. Even long term. Ultimately, though, If the World moves more and more into Cyberpunk territory, I don't see how the people would allow the greedy banks to be a thing. Imagine a free and fast internet on a global scale, or a virtual reality rivaling the real world. These ideas aren't that far-fetched for the next 1000 years. Why would you need paper money then? Why would you pay some big transaction fees and a bunch of other useless taxes to a 3rd party?
They are already changing, there are poker rooms that operate with cryptocurrencies, one of them is COINPOKER, I think it will not replace, or overshadow the coins we know, but if it will have its space, it already depends if we want to choose it, it will depend of the benefits it brings ..
I will say this in regards to crypto. I think it is a great tool to fund and or buy things online. The problem, is if you want to deposit say $50 all the hoops you have to jump through along with all the fees you end up with 37-40 to deposit. I think there needs to be a exchange for players where they can swap cash for poker money on sites. I am actually shocked this isn't around.