Topic: The “Achilles’ heel” of the Centralized Poker Industry (Read 3550 times)

4passion · « **on:** October 12, 2014, 04:44:49 pm »

The thesis of “Ideal Money” is that if the peoples of this world could have a universal currency with a stable printing supply, and users could freely use this currency to trade in and out of their own respective national currencies, then they could put pressure on their central banking authorities to print and maintain a currency of stable and good quality. This concept of stabilizing the global economy through free market based currency pricing is referred to as “Asymptotically” ideal money, and it is a phenomenon we are experiencing today because of “bitcoin”.

In relation to poker, the players have a corresponding solution, since poker sites effectively operate on the same type of Keynesian/central banking model:

Quote

Players simply need to collectively demand that their rakeback points be paid out as a digital currency (or assets), so that it may be freely traded on a digital asset exchange.

The concept is simple, once rakeback points can be traded on a free market exchange then the players can PROPERLY valuate the effective rake on a given site. This too will lead to pressure for sites to print “chips” of stable or high value in relation to the effective rake.

It’s going to seem like a strange solution, however it is a perfectly effective one and also one that would be incredibly easy for sites to implement REQUIRING NO EXTRA SOFTWARE. It matters not which sites participate but only rather that the players begin to collectively understand the solution, since the pressure created will inevitably lead to its adoption.

Enacting this simple change will set in place the foundation and infrastructure for decentralized poker through:
Creating Assets as Single Unique Identifiers
Establishing a Poker Forum Coin

swartzfeger · « **Reply #1 on:** October 13, 2014, 07:11:32 am »

This warrants a bump.

I used to be an avid FullTilt player and frequented a lot of IRL house games back in the day.

If we as players are smart enough to calculate reverse implied odds, we're (hopefully) smart enough to push for decentralization. Poker is to crypto as porn was to VHS/DVD, imho.

ThomasVeil · « **Reply #2 on:** October 13, 2014, 10:33:34 am »

Is poker still that big? I've read that the buzz has died down a bit.

rdanneskjoldr · « **Reply #3 on:** October 13, 2014, 10:41:43 am »

It has died down a bit because most of the main markets are dead. Its illegal to play in tge US,except a couple of minor sites.countries in europe like spain france,spain,italy,etc have separated player pools.now pokerstars to follow uk laws,had to ban acess in .com site to around 40 countries susipicious of terrorism / money laundering,like turkey and saudi arabia.
So even if you play on .com,the main markets in the world are closed and with legislations wich make the rake super expensive.
In spain you have to pay an almost unbeatable rake,and if you win,pay a big % of the winnings.

Its easy to see why cryptos can make a new revolution in poker/gambling

lucky331 · « **Reply #4 on:** October 13, 2014, 11:42:57 am »

off topic and just to get it out there.. https://www.gambit.com really needs the traffic. the site is decent, especially for you guys who want to play open face chinese poker.

rdanneskjoldr · « **Reply #5 on:** October 13, 2014, 12:39:36 pm »

Quote from: lucky331 on October 13, 2014, 11:42:57 am

off topic and just to get it out there.. https://www.gambit.com really needs the traffic. the site is decent, especially for you guys who want to play open face chinese poker.

It looks amazing, the games run super smooth.

_mr_e · « **Reply #6 on:** October 13, 2014, 04:53:47 pm »

Is this what NxtPoker is going to do?

4passion · « **Reply #7 on:** October 13, 2014, 06:09:00 pm »

Quote from: swartzfeger on October 13, 2014, 07:11:32 am

This warrants a bump.

I used to be an avid FullTilt player and frequented a lot of IRL house games back in the day.

If we as players are smart enough to calculate reverse implied odds, we're (hopefully) smart enough to push for decentralization. Poker is to crypto as porn was to VHS/DVD, imho.

Thanks. I need to say I have taken it even beyond this in thought and theory, or at least I see it "further".

If we think about bitcoin in terms of "ideal money" http://sites.stat.psu.edu/~babu/nash/money.pdfwe can start to paint a different economic perspective.

Quote from: ideal money

The special commodity or medium that we call money has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about money and fail to be able to reason about it like a technology, such as radio, to be used more or less efficiently

...

Consider a society where the money in use are subject to a rapid and unpredictable rate of inflation so that money worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend money for the term of a year?

In this context we can see how the “quality" of a money standard can strongly influence areas of the economy involving financing with longer-term credits.

And also, if we view money as of importance in connection with transfers of utility, we can see that money itself is a sort of “utility", using the word in another sense, comparable to supplies of water, electric energy or telecommunications. And then, if we think about it, we can consider the quality of money as comparable to the quality of some “public utility" like the supply of electric energy or of water.

Let's imagine we know the "price" or "value" of bitcoin is going to raise consistently for the extent of our lifetimes, and let us assume we each have an instant and free (no transaction fees or exchange fees) way of "converting" your bitcoin into any form of currency that is useful and needed.

Provided there are charitable people and "places" presumably one now has access to a new kind of "electricity" beam, which is really a channel of "gold". If you need some value you simply reach in and pull it out. This is something that we may not believe can exist as a "true" form of "social welfare".

Then we might compare this to our understanding of a "game" such as "poker". We can ask, what does the effect of such an economic change have on the game of poker. What does it mean to decentralize poker, and also how can we apply such a solution to a smaller subset of the global economic problem that is "poker".
https://www.scribd.com/doc/224948379/Ideal-Poker

Quote from: ideal poker

The special commodity or medium that we call EV has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about money and fail to be able to reason about it like a technology, such as radio, to be used more or less efficiently

Consider a poker society where the chips in use are subject to a rapid and unpredictable rate of rake so that chips worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend chips for the term of a year?

In this context we can see how the “quality" of a rake standard can strongly influence areas of the poker economy involving financing with longer-term credits.

And also, if we view rake as of importance in connection with transfers of utility, we can see that rake itself is a sort of “utility", using the word in another sense, comparable to supplies of water, electric energy or telecommunications. And then, if we think about it, we can consider the quality of rake as comparable to the quality of some “public utility" like the supply of electric energy or of water.

4passion · « **Reply #8 on:** October 19, 2014, 02:37:19 pm »

I don't know where to write this, but I am holding the "esoteric keys" to this nxtPoker project. I need to know who to give them to...

John Smith · « **Reply #9 on:** December 12, 2014, 08:02:47 am »

bump for correctness.

DesertWind · « **Reply #10 on:** March 14, 2015, 01:31:50 pm »

Quote from: rdanneskjoldr on October 13, 2014, 10:41:43 am

It has died down a bit because most of the main markets are dead. Its illegal to play in tge US,except a couple of minor sites.countries in europe like spain france,spain,italy,etc have separated player pools.now pokerstars to follow uk laws,had to ban acess in .com site to around 40 countries susipicious of terrorism / money laundering,like turkey and saudi arabia.
So even if you play on .com,the main markets in the world are closed and with legislations wich make the rake super expensive.
In spain you have to pay an almost unbeatable rake,and if you win,pay a big % of the winnings.

Its easy to see why cryptos can make a new revolution in poker/gambling

Ya man, online poker is dying. It's being killed by too much revenue and profit.

It's "bitcoin poker" that is dying. With the demise of SealsWithClubs it's down to < 500 players versus a universe of 200,000...
Basically, crypto poker is being met with total indifference in spite of 2.5% rake.

The project most likely to succeed is nxtVenture's Pangea... these guys know more about philosophy than poker.

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Author Topic: The “Achilles’ heel” of the Centralized Poker Industry (Read 3550 times)

4passion

The “Achilles’ heel” of the Centralized Poker Industry

swartzfeger

Re: The “Achilles’ heel” of the Centralized Poker Industry

ThomasVeil

Re: The “Achilles’ heel” of the Centralized Poker Industry

rdanneskjoldr

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lucky331

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rdanneskjoldr

Re: The “Achilles’ heel” of the Centralized Poker Industry

_mr_e

Re: The “Achilles’ heel” of the Centralized Poker Industry

4passion

Re: The “Achilles’ heel” of the Centralized Poker Industry

4passion

Re: The “Achilles’ heel” of the Centralized Poker Industry

John Smith

Re: The “Achilles’ heel” of the Centralized Poker Industry

DesertWind

Re: The “Achilles’ heel” of the Centralized Poker Industry