Joined: Feb '11
Location: Philippines
Age: 39 (M)
Posts: 87
i am playing on a poker room which they use bitcoins as main currency there and i was wondering if some of my fellow mobsters here also play on sealswithclubs.
Joined: Feb '12
Location: United Kingdom
Age: 55 (M)
Posts: 46
I play on Seals and it is great.
I find it really amusing that Seals gets really bad reviews. This is a site started by real Poker players without multi million pound backing. Of course the software is going to look lame in comparison to Pokerstars or Full Tilt. It is running Briggs software Poker Mavens but this is perfectly fine and playable. They recently suffered a massive DDOS attack much like MTGox did so these guys need all the support they can get. They are growing steadily and there will be problems as they expand but I have faith they will tackle them. Benefits to playing on Seals is low rake great promos and the players are ... lets say not the most expert you are likely to meet.
Regarding Bitcoins these are good as well, yes there is a lot of bad press regarding scams and hacks and the currency isn't really friendly enough for the average person to use right now. At the moment it is only technical people that understand it but it has the potential to be huge, it also has the potential to bomb. Bitcoin itself is safe from hacking at the moment because it is based on known secure cryptography, it would take a massive leap in cryptanalysis (code breaking) or computing power to threaten it, it will also move to more secure encryption in due course to defeat moores law (increase in computational power over time), currently it uses sha256.
The Hacks mentioned above are on sites that use Bitcoin, if their security isn't great then they can get hacked, they can also suffer DDOS attacks like any site can. You can store Bitcoins on your own computer and if you follow proper computing practices with regards to security and passwords your coins will be safe, you can also back your wallet up even with online sites. There are some known attacks that could be attempted on Bitcoin such as the 51% attack and the double spend attack but these are far from practical right now and again if you use Bitcoin properly the double spend attack is not going to affect you.
My advice is to invest a little and have a play, you never know you may quite like it.
Joined: Dec '12
Location: Bulgaria
Age: 47 (M)
Posts: 1022
Despite the fact that Bitcoins seem to function reasonably well, it seems quite unlikely that major poker rooms will begin to accept them anytime in the near future.
Perhaps we'll someday see a virtual currency really take off on the internet, but until the threat of intervention is less significant it is unlikely to happen. For now, Bitcoins are an interesting and mostly unexplored territory - but enter at your own risk.
Played there some time ago...my account is still active...earned 1711 chips which translates to 1.711 btc playing freerolls, Sng's, and some cash tables. May start up again...not sure becoz most of my time online is at Stars and Tilt. Tried it out becoz it was something different and don't expect to cash out any time soon...was a fun thing.
Joined: Aug '12
Location: Romania
Age: 30 (M)
Posts: 269
Posted by rbdflyboy: Played there some time ago...my account is still active...earned 1711 chips which translates to 1.711 btc playing freerolls, Sng's, and some cash tables. May start up again...not sure becoz most of my time online is at Stars and Tilt. Tried it out becoz it was something different and don't expect to cash out any time soon...was a fun thing.
You wanted to say 1,711 btc or 1k? If you have 1k btc you are rich :|
Joined: Feb '11
Location: Philippines
Age: 39 (M)
Posts: 87
Posted by stimp1024: I play on Seals and it is great.
I find it really amusing that Seals gets really bad reviews. This is a site started by real Poker players without multi million pound backing. Of course the software is going to look lame in comparison to Pokerstars or Full Tilt. It is running Briggs software Poker Mavens but this is perfectly fine and playable. They recently suffered a massive DDOS attack much like MTGox did so these guys need all the support they can get. They are growing steadily and there will be problems as they expand but I have faith they will tackle them. Benefits to playing on Seals is low rake great promos and the players are ... lets say not the most expert you are likely to meet.
Regarding Bitcoins these are good as well, yes there is a lot of bad press regarding scams and hacks and the currency isn't really friendly enough for the average person to use right now. At the moment it is only technical people that understand it but it has the potential to be huge, it also has the potential to bomb. Bitcoin itself is safe from hacking at the moment because it is based on known secure cryptography, it would take a massive leap in cryptanalysis (code breaking) or computing power to threaten it, it will also move to more secure encryption in due course to defeat moores law (increase in computational power over time), currently it uses sha256.
The Hacks mentioned above are on sites that use Bitcoin, if their security isn't great then they can get hacked, they can also suffer DDOS attacks like any site can. You can store Bitcoins on your own computer and if you follow proper computing practices with regards to security and passwords your coins will be safe, you can also back your wallet up even with online sites. There are some known attacks that could be attempted on Bitcoin such as the 51% attack and the double spend attack but these are far from practical right now and again if you use Bitcoin properly the double spend attack is not going to affect you.
My advice is to invest a little and have a play, you never know you may quite like it.
whats your username on there mate?
------------ if you are looking for a stakee consider me on seals
Joined: Apr '09
Location: Portugal
Age: 44 (M)
Posts: 4827
I remember of searching for this and, in the beginning of 2012, there’s was no search returning good results about it on the net. Now you bring a name, I guess it’s nice. Those bitcoins may suffer a big increase in the future. If big companies look at them as an opportunity and start developing activities involving it, it will surely increase it’s value and those already having some on the pocket will feel extremely happy from seeing their money increase value without doing nothing. I sure want to be part of that group when the bitcoin boom happens. We never know when something like that can happen, but better be involved than just be a watcher.
Posted by rbdflyboy: Played there some time ago...my account is still active...earned 1711 chips which translates to 1.711 btc playing freerolls, Sng's, and some cash tables. May start up again...not sure becoz most of my time online is at Stars and Tilt. Tried it out becoz it was something different and don't expect to cash out any time soon...was a fun thing.
You wanted to say 1,711 btc or 1k? If you have 1k btc you are rich :|
no bud....not rich yet...have earned exactly 1.711 btc only and don't have any other bitcoins anywhere else. Have an e-wallet bitcoin account somewhere...that info is gone becoz my last computer crashed badly and all that info was lost as well. Too bad one can't sue anti virus companies...most of them are pure SH1t.
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Posted by IceQueenAce: ive been doing some reading
I think the boom has happened, now we will see the crash
As time goes on mining for bitcoins will take longer and longer. If one can acquire whole bitcoins, then, when all is said and done, one will have quite the relative bankroll. When it ends the min value of a bitcoin will be to eight decimal places. Just having one bitcoin could give one some buying power relative to the currency.
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Using a currency, like bitcoins, to gamble seems wierd. We have to keep in mind, that bitcoins aren't like real world currency. While they have value in the sense that people are willing to pay real money for them, they don't hold the same real world value that normal money does. If there's no more demand for bitcoins, or the market gets saturated, then the coins hold no value. Unlike real world money, that basically has an agreed upon value, and isn't as susceptible to crashing like bitcoins do.
It'd be a kick in the teeth, to win huge amounts of bitcoins playing poker, only to have the market suddenly crash and have your winnings be of no value. It's a lot more likely to happen with bitcoins, as opposed to real money.
Posted by retribution: Using a currency, like bitcoins, to gamble seems wierd. We have to keep in mind, that bitcoins aren't like real world currency. While they have value in the sense that people are willing to pay real money for them, they don't hold the same real world value that normal money does. If there's no more demand for bitcoins, or the market gets saturated, then the coins hold no value. Unlike real world money, that basically has an agreed upon value, and isn't as susceptible to crashing like bitcoins do.
It'd be a kick in the teeth, to win huge amounts of bitcoins playing poker, only to have the market suddenly crash and have your winnings be of no value. It's a lot more likely to happen with bitcoins, as opposed to real money.
They're saying that's the beauty of bitcoins, there are only supposed to be a finite amount of them to be had. That's why they say in the end the currency will be to eight decimal places as the min. In theory anyone with whole coins now will be farther along when all is said and done. Don't know for sure...time will tell. Got this info when researching the coins awhile back.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Isnt playing poker with Bitcoins like double jeopardy? Not only you can lose by playing poker, but also if thei value drops down. From the latest news you say it went up so thats a good sign for all playing poker with it
Posted by Mober: Isnt playing poker with Bitcoins like double jeopardy? Not only you can lose by playing poker, but also if thei value drops down. From the latest news you say it went up so thats a good sign for all playing poker with it
Hi Mober...see what your saying and it's true if one wants to exchange them for hard currencies. There is an infrastructure in place where one can deal in bitcoins for products and services, although relatively small, trading goes on, on a daily basis. Remember we dealing in fractions of whole coins and anyone who holds whole coins now can benefit in the future...in theory.
