This is a discussion on nOS Blockchain Freeroll - Skeptical within the online poker forums, in the Poker News and Events section; I'm always skeptical of sites promoting "their" blockchain technology and how they are doing something "new" with it. Blockchain is open tech, it is not
I'm always skeptical of sites promoting "their" blockchain technology and how they are doing something "new" with it. Blockchain is open tech, it is not "owned" or privatized by any one company. The value is in the application of the technology, and there is absolutely value in the technology. Crypto is one application of the technology, and everyone wants to believe the promises these "companies" are selling.
Now this group nOS is trying to peg their crypto to poker... Seems like a marketing ploy and quite a bit suspect to me. Coinpoker did something like this awhile back. Here's the thing... the value of your bankroll is tied to the value of whatever coin they are selling you. Make no mistake, they are selling you crypto, NOT poker. It does not matter if some "well known" poker pro signs off on it. We all know that poker players, and pros especially will BS you out of your hard earned cash with no remorse (as proven time and again). Anyways, my two cents, any other thoughts? Experience with this type of site?
I like poker with bitcoin the withdrawals are faster i play on one site and it is very nice to play there, so wy youre so sceptical?
Just to be clear, I am not condemning all crypto, though I would never consider parking substantial funds into it. QuadrigaCx, Mt Gox, all those scams show you that this idea of "decentralized" currency is false. At the end of the day, someone, somewhere has control, and the system is at their mercy. I would rather it be a bank with assets I can see than some unshaven tech "genius" who lives in a theoretical world.
I will say though that crypto's use in online poker is only widespread because of the laws against illegal gambling. Believe me, if it was fully legal regular banks would be all over it, with as much if not more effectiveness. It's not very hard to reconcile bank records with relation to POS purchases, credit card processors such as Mercury have been doing it for decades.
I get what you're saying... and you're concerns. But I still think it's a good thing. I think it would be unwise to keep a "substantial" amount of bankroll in any asset, crypto, cash, gold, whatever.... And absolutely there's a pitch. I think they're trying something new, and offering players a chance to try it too. And maybe try it free! Sure! If it's a tradeable/sellable asset. Why not. Everyone I know that did really well with BTC... are poker players and - um- silk road fans
They we're NOT investors. But they had reason to use something before anyone else did. I don't know - personally- any crypto multi millionaires. They're out there, I just don't know them. But, I know several folks who made 5-6 figures.
Did I ever buy crypto- as an investment... no I didn't. I still use it as a tool. Some did and did well. Many missed the boat and lost LOT. But I did well (in my mind anyway) with it playing poker. 2017 early 2018 was nuts.. But for a couple years before that BTC was under a grand- well under. And I won some, free or close to it. And didn't sell at the top, but close...
To me, the better question is, ok cool, where's the opportunity? There could be one. And if not, well I get to play for free and maybe win something that might be worth something. Once everybody and their mother's in... You missed the boat.
i have a few thousand coinpoker.. CHP, i think its called? whatever, anyways.. you are right when you say they are selling you crypto, and not poker. and it sucks when you play for money and the value of that money is so volatile... imagine if the USD you played in were worth 2500 one day, 1000 the next week and 500 at the end of the month...
imagine the ROI you need to be profitable.. again, it can also work in reverse but... since the crypto crash, its very unlikely any of these new coins will be different.
the real problem is, the blockchain is already outdated and a waste of energy.. they have come up with better solutions that are so energy consuming... im a certified bitcoin professional and even i would rather play for USD any day of the week.