Thursday, January 31, 2013

Bitcoin Poker

I'm definitely back, and oddly enough, I'm now a cash gamer.

Current bankroll: 28 bitcoins ($574.56 at today's market rate) That's right, my bankroll is being held not in dollars, but in bitcoins.

What's a bitcoin, you ask? Well, it's pretty much the best currency for online poker in the US since Black Friday happened. Bitcoins are a digital crypto-currency made up in 2008 by some group of possibly Japanese programmers.

Here are the important parts: It's as good as cash, it operates in a legal grey area because it is not a legal tender, and it can't be frozen by any government or law enforcement agency. This means that all those laws under UIGEA that shut down poker and gambling web sites for illegal money transfers don't apply, cashouts are blazingly quick from bitcoin poker sites compared to USD poker operators like Merge and Revolution, and most importantly, there's no chance of funds being frozen like on Black Friday!

At the site I play at (Seals with Clubs), it takes 12 hours maximum for a cashout. Compare that to waiting half a month to four months for a check from the dollar-denominated gambling sites, as well as ruling out another Black Friday, and you have a site that dominates the competition. Bitcoin poker is here to stay, and I'm very glad for it!

I'll do a more in-depth write-up of Seals soon.
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6 comments:

  1. The Poker MeisterJanuary 31, 2013 at 1:47 PM

    Great to see another blogger playing for BTC. I just posted a writeup of SealsWithClubs - http://lowstakeshands.blogspot.com/2013/01/all-work-no-play-makes-me-dull-boy.html

    I have a good explanation of things in there.

    Looking forward to seeing your post for the site you play!

    ReplyDelete
  2. ThornJanuary 31, 2013 at 4:50 PM

    Nice write up! I actually play at the same exact site. I really like SWC, particularly in this post-Black Friday world.

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  3. The Poker MeisterFebruary 2, 2013 at 12:13 PM

    Very cool. What's your user name? Mine is KeepFloppin. FWIW, I have an affiliate sign-up link if you don't have one for yourself. If you don't have an affiliate account, please use my referral link.

    Thanks!

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  4. ThornFebruary 2, 2013 at 8:57 PM

    My user name on there is PlaceboFX. You can usually find me on 6max or 9max cash tables, usually 5/10 but on the occasional 3/6 or 10/20.

    Also, I'd thought about getting an affiliate link, but never bothered haha. I'll use yours in my next post.

    ReplyDelete
  5. The Poker MeisterFebruary 3, 2013 at 5:43 AM

    Very cool. Thanks!

    ReplyDelete
  6. bitcoinsFebruary 19, 2013 at 8:20 AM

    bitcoins and poker? count me in!

    ReplyDelete

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