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Is Bitcoin Cash the New Neteller for Poker Players?

Posted on August 16, 2018August 16, 2018 by Kelley N.

More and more players are using bitcoin and other cryptocurrencies to play poker online, and industry experts are beginning to take note of the trend. Jonas Odman, General Manager of Global Poker, is a strong proponent of this development, and has even gone so far as to predict that bitcoin cash will be as big as Neteller in the online poker world.

Bitcoin Benefits Online Poker Players in a Big Way

As a leader in the online poker market, Odman recently spoke at the CoinGeek conference to provide insight about the future of online gaming with relation to cryptocurrency. While there, he extolled the benefits of using bitcoin at online poker sites, stating that the cryptocurrency offers numerous benefits to players and merchants alike.

While only a small percentage of players currently use bitcoin at online poker sites, Odman predicts that bitcoin cash will be the new Neteller for the industry. He notes that bitcoin cash is a very quick option when it comes to cash outs. When player use traditional ewallets and credit cards, they have to wait a few days until the have access to their winnings – but bitcoin cash ensures that withdrawals are processed instantly. This is a huge benefit to online poker players, and it one of the main reasons that the use of cryptocurrency is sure to expand in the industry.

Odman addresses some of the challenges that the industry could face when using bitcoin to play poker, such as fluctuating exchange rates. Bitcoin is still quite a volatility cryptocurrency, and Odman anticipates that players are likely to hold onto their coins when rates increase. He hopes to integrate incentives into the online poker world that will encourage players to continue using bitcoin even when rates are on the rise.

The Expansion of Bitcoin in the Poker World

Bitcoin Cash could certainly change the game when it comes to using cryptocurrencies at poker sites. As the “next Neteller”, bitcoin cash definitely has some big shoes to fill. Neteller brought online poker to the masses by providing players with an easy way to deposit and withdraw cash. Since PayPal was withdrawn from the gaming market, Neteller stood up to takes it place by ensure its banking platform offered easy access – and bitcoin has the potential to follow suit.

You can take a look at his full interview here:

Bitcoin is becoming increasingly important in the online poker world, with more and more players choosing to deposit and play with cryptocurrencies over traditional currencies. So, will bitcoin cash become the next Neteller in the online poker market? Only time will tell, but there is plenty of support for

Kardashians Host Charity Poker Tournament, Bitcoin Appears

Posted on August 2, 2018August 15, 2018 by Kelley N.

The Kardashians hosted a charity poker tournament recently, and the event has been making headlines. However, while most blogs are interested in Kim’s weight loss and new haircut, we’re more focused on the inclusion of bitcoin.

Playing Poker for a Good Cause

The event was a lavish one, with sponsors paying up to $50 000 for a table. If you wanted to sit at a table next to a Kardashian, you could have to shell out $5000 to $7500 for a seat. All other players would be able to compete by paying $1000.

It was definitely a star-studded event, with plenty of celebrities making an appearance. January Jones, David Arquette and Meghan Trainor are just a few of the stars that showed up to compete on the felt. There were even some poker pros in attendance, including Phil Hellmuth, Ryan Feldman, and Brandon Cantu.

The event was in support of City of Hope, a leading research and treatment centre for life-threatening illnesses like cancer and diabetes. The organisation is a founding member of the National Comprehensive Cancer Network, and provides care to individuals in need while researching medical breakthroughs that could eliminate these diseases.

All in all, the event was a huge success. Over half a million dollars were raised for charity. The winners walked away with some impressive prizes as well, as first and second place received front row VIP tickets to see The Eagles and Fleetwood Mac. Third place received a custom fitted set of golf clubs and fourth place earned a $17 000 diamond bracelet.

An Appearance from Bitcoin

One of the interesting things about this tournament is that bitcoin was in play. In an Instagram story posted by Kim Kardashian, she posted a photo of a bitcoin chip alongside her regular poker chips with a caption that read “We moved onto bitcoin!”.

The physical bitcoin was given to her by Matthew Roszak, the founder of Bloq – a company working on blockchain innovations. The small gift quickly started conversations around the world, as Reddit users suggested that this is a huge move for bitcoin. With Kim Kardashian adopting cryptocurrency, the market could get the mainstream push that it needs.

This isn’t the first time that bitcoin has made an appearance in the poker world. In fact, the Blockchain World Conference recently hosted the world’s first cryptocurrency poker tournament, where players were not only able to wager using digital money but also registered for the event with it.

Poker is emerging as one of the most desirable and viable partners for bitcoin and other cryptocurrencies. Should these two markets continue to develop their relationship, it won’t be long before bitcoin is a major player in the online gaming world. It would be an important entry for cryptocurrency and the first step towards becoming mainstream.

First-Ever Crypto Poker Tournament Held

Posted on July 26, 2018July 26, 2018 by Kelley N.

Cryptocurrencies are touted to be the next big thing in online poker, but there is still a long way to go before they are truly integrated into the market. To give things a little push, the Blockchain World Conference recently hosted the world’s first cryptocurrency poker tournament.

A Ground-breaking Innovation in Poker

The event was held on the last day of the Blockchain World Conference. Only attendees of the conferences were invited to play in the poker tournament, and 100 players in total took part. The winner received two tickets to the next Blockchain World Conference in December along with three nights’ accommodation – a prize worth $10 000.

While there are several online poker sites that run on bitcoin, there has never been a live tournament focused on cryptocurrency. We are beginning to see the two markets merge, which is a great thing for both players and operators. There are many benefits to playing poker using cryptocurrencies, and it is hoped that players currently using traditional currency will begin to see te possibilities and potential.

The entire event was run through cryptocurrency and tickets were sold using Blockparty, a live ticketing platform powered by blockchain. During the tournament, all bets were made using cryptocurrency, and all prizes were awarded using it as well.

This was the first time that Blockparty has hosted a poker tournament, as the platform is usually used for conferences and parties. So, it’s interesting to see many crypto-focused businesses coming to together to bring new experiences to consumers.

Blockchain World Conference – A Big Success

Over 4000 people attended the Blockchain World Conference at Harrah’s in Las Vegas. 100 exhibitors were in attendance, as well as a list of speakers that included blockchain experts, cryptocurrency analysts, scientists and business leaders. The closing keynote speech was given by John McAfee, and there were plenty of fun events for all attendees, including golf outfits and VIP parties.

It is certainly a big deal that the World Blockchain Conference was hosted at a prestigious venue like Harrah’s Las Vegas. This type of event brings cryptocurrency into the mainstream, and it is likely to inspire more industry expert to host similar exhibitions.

In fact, the World Blockchain Summit will be hosting a series in various countries around the world. The event will come to India, UAE, Slovenia, Kuala Lumpur, Riyadh and Taiwan over the course of the next six months. These types of events are sure to help spread the word about cryptocurrency and its benefits.

bitcoin-price-drop-after-social-media-discussion

Bitcoin Price Drops Following Social Media Decision

Posted on June 12, 2018July 17, 2018 by Nick W.

On Tuesday March 27th the price of 1BTC dropped to just $7000 following a decision made by Twitter to no longer allow Bitcoin adverts on its site.

The social media microblogging site followed in the footsteps of Facebook and Google in making the decision to ban Bitcoin advertising. This means that three of the world’s largest advertising spaces are now off limits for anything pertaining to the cryptocurrency. Bitcoin isn’t the only currency hit by this decision and Ethereum and Ripple also dipped heavily following the news.

This continues what has become a bad year for Bitcoin. After reaching an all time high in late 2017 it’s been all downhill since then. There was a price plunge in January and in March a further 25% has been wiped off its value.

In a statement, Twitter said: “We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs and token sales will be prohibited globally”.

The move was made in an apparent effort to keep social media users safe. Following the meteoric rise of Bitcoin in recent years it has become something of a buzzword and the trading of BTC is now viewed as a tempting proposition by many. As a result of this many people’s feeds were full of Bitcoin-related advertisements, not all of them from strictly trustworthy or ethical companies.

Trading of currencies or stocks and shares is a form of gambling and Twitter have never been particularly enthusiastic towards gambling institutions who wish to advertise on the site either, despite serious revenue being offered. It is all part of being a safe and responsible site, but it leaves Bitcoin with fewer places to turn.

Twitter made the decision to ban all Bitcoin ads after Facebook took a similar approach in January. Facebook don’t have a particularly hard line against gambling on the social media site, but they stated that many BTC ads involved “financial products and services frequently associated with misleading or deceptive promotional practices”.

Google have also said they will ban all Bitcoin ads in June this year and it leaves Bitcoin without any of the major channels to promote itself.

Due to Bitcoin being unregulated by any financial institution and the fact that many banks were initially reluctant to deal in the cryptocurrency, it is suspected that this move will be seen as a positive one by many traders of traditional currencies. The price of BTC is expected to fall further still and some pessimistic experts are already suggesting it might collapse completely.

Anyone who currently owns any Bitcoin and is panicking is urged to hang fire and not to try and dump any of the cryptocurrency just yet. The Bitcoin train still has a good few miles in it and many financial experts believe that the current dip is just a minor bump on an otherwise smooth track.

Once a new platform is found which will support Bitcoin advertising the tide is likely to turn and there will be plenty of people looking for a solution as you read this.

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