Ye except poker is a job for a decent chunk of people playing on these sites. I myself have friends who were forced to move outside of US just to continue playing.
I just wanted to emphasise the fact that there is a big creation of wealth with bitcoin that other activities don't provide. How? It's made some individuals wealthy, but only because other individuals have put money in, and those individuals are reliant on other new individuals putting money in to make their own returns. Bitcoin does not create money, it just moves it around. Only governments create money. |
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Poker sites were just a way for a few people to suck-in other people's money while wasting their time playing a silly game.
Bitcoin just created a few tens of b$ out of nothing and may give the planet a few % of needed growth, all this for free, or nearly.
Business and jobs will be created, and have been already.
So what would you do if you were to advise to keep or reject this as a whole ?
I would advise to keep it, build on it. I have invested remember. I just 'sometimes' doubt if we will get mass acceptance of this particular coin (btc). Wish I hadn't started this now, I'm a bull...but sometimes I like reality to kick in. I've missed too many 'obvious' signs over my lifetime, I was heavily involved in the dotcom bubble (hindsight is a wonderful thing). I'd just like to get it right this time. |
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But the US government banned online poker easily enough, millions played across the country and it was shut down overnight. Literally millions of dollars were lost by players and the businesses built around it. The industry still hasn't recovered and now 9 years since the original ban we have legal poker slowly appearing again in some states - but it's heavily regulated and they only started a couple of months ago.
They banned the flow of money to poker sites and this ban was strongly undermined (leading to the big heist which resulted in Full Tilt's demise a few years back). Seriously, they will only make Bitcoin stronger by fighting it. It's a hydra. Well it didn't make poker stronger did it? I do know a bit about this, I ran a poker site pre UIGEA, the industry collapsed, players lost interest, only the rest of the world kept it limping along, it may never recover. Don't get me wrong I'm a long term bull, but if you don't look at the possibility of things like this happening and protect yourself, then you're not looking after your money well. Every single person here is enthusiastic about btc, even the perma bears - otherwise they would not be on this forum. Surely within ourselves we SHOULD discuss the possibility of something like this happening. There was not a real need for online poker though...society can function without it......but can it function without btc? Lol yes. btc isn't the be all and end all of crypto currency. As discussed in the hearings yesterday this could just be the forerunner for better more secure systems. Btc has a lot of problems that could be improved on. Sometimes I think we're all investing in bb boards thinking that's where the money is in the internet in the 90's just because that's what everybody used (older people will understand this). Sure bb boards and the early browsers helped the whole concept of the internet take off, people made tons of money at the time, but ultimately they were replaced with far superior technology once the real money moved in. I'm not saying btc is doomed, but take a step back from your enthusiasm every now and again and smell the coffee. This could just be a short lived opportunity to make some money. |
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But the US government banned online poker easily enough, millions played across the country and it was shut down overnight. Literally millions of dollars were lost by players and the businesses built around it. The industry still hasn't recovered and now 9 years since the original ban we have legal poker slowly appearing again in some states - but it's heavily regulated and they only started a couple of months ago.
They banned the flow of money to poker sites and this ban was strongly undermined (leading to the big heist which resulted in Full Tilt's demise a few years back). Seriously, they will only make Bitcoin stronger by fighting it. It's a hydra. Well it didn't make poker stronger did it? I do know a bit about this, I ran a poker site pre UIGEA, the industry collapsed, players lost interest, only the rest of the world kept it limping along, it may never recover. Don't get me wrong I'm a long term bull, but if you don't look at the possibility of things like this happening and protect yourself, then you're not looking after your money well. Every single person here is enthusiastic about btc, even the perma bears - otherwise they would not be on this forum. Surely within ourselves we SHOULD discuss the possibility of something like this happening. |
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But the US government banned online poker easily enough, millions played across the country and it was shut down overnight. Literally millions of dollars were lost by players and the businesses built around it. The industry still hasn't recovered and now 9 years since the original ban we have legal poker slowly appearing again in some states - but it's heavily regulated and they only started a couple of months ago.
If the US government thinks it isn't taxed enough or under US direct control...it could very well ban, or do what they did with poker and ban banks and financial institutions from going anywhere near it. Proving the point by arresting someone high profile, prob that guy from coinbase. He will get off with a fine, but it will scare the rest of the financial industry away.
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As much as I would love it to be true, you say this happened yesterday, and the time for their fiat to hit their account is 2hrs? Well, one look at their trades in the last 24hrs says it's either untrue, or the chinese don't care.
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it came from reddit, what do you think? |
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Yes, and I wouldn't look back.
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Funny... I bought a Lambo and I am doing my masters at that school in Cyprus, paid with BTC.  Adopt me Ha, the Goat house is getting full. My second son was born yesterday about this time. Both baby and Mother are happy and healthy. Congratulations! |
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and huobi is offline now for 15 minutes
Edit: back online
Back down again now. |
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This is all just a repeat of what has happened before, and will happen again....and again. That's why it's so much fun to trade.
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What's the word on the New York Hearings tomorrow? Is it supposed to be bearish or bullish?
Think it is supposed to be bullish, maybe will turn this around? |
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http://news.rambler.ru/23049855/They are saying the creator of bitcoin has been arrested (well that's what google translates it to) - just goes to show how news can easily be skewed by 'chinese whispers'.
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it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  Not as bad as me, sold at 814, went out to walk the dog, got back and realised I'd actually bought more at 814 and were already sub 790 - epic day for me  |
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Hyubi is like "what the fuck are you guys doing over there?" Lol yeah, I was just thinking they must be thinking WTF - like we do when they get good / bad news |
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Guys, I know we hear a lot of 'bad news', but this REALLY IS BAD NEWS, I urge you to consider selling now to buy back later at a lower price when the market has absorbed this. I'm 100% fiat as of 5 mins ago.
Well, good luck then. If you need to convince people like this, the news can't be that bad  I don't mind what people do really, I'm not trying to convince people, no-one here who would listen to me has enough btc to make a difference but http://www.marketwatch.com/story/ceo-of-winklevoss-backed-bitcoin-company-arrested-2014-01-27?link=MW_latest_newsisn't going to go away quickly. Especially with Jan 31st around the corner. I may be wrong ofc, everyone has to make their own mind up. |
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Guys, I know we hear a lot of 'bad news', but this REALLY IS BAD NEWS, I urge you to consider selling now to buy back later at a lower price when the market has absorbed this. I'm 100% fiat as of 5 mins ago.
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Are you in the UK? I'm guessing not if a location's that far away unless you're a lighthouse keeper.
I assume they'll be hitting the rest of the world pretty rapidly after. I've no idea why they chose Britain though.
Maybe because so under serviced at the moment? And you're right, nowhere in the UK is 5-6 hours away from a shop or bank, you could travel half the length of the country in that time. |
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wow the UK has ZERO proper ways of getting btc, so this is GENUINELY massive. Finally, btc in the UK!
I'm actually pretty excited about this, we've had to jump hurdles in the UK to get hold of btc. |
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