It may well be that Bitcoins were invented to escape the unreasonable ban on internet poker. You will really love this Joad! Gambling with Bitcoins. Seals with Clubs operates solely with Bitcoins. No pesky government interference (although on line Poker would welcome it!) Here is some info on Bitcoins from thier website. Sure wish I would have gotten on there Black Friday.
BITCOIN FAQ
What is Bitcoin?
Bitcoin is an electronic currency & payment system based on an open-source, peer-to-peer internet protocol. There is no centralized issuer; instead individual users volunteer computing power in effect executing and recording the Bitcoin network’s transactions in a decentralized way.
More information can be found at bitcoin.org and blockchain.info.
Why do bitcoins have value?
They have value because people find the Bitcoin protocol to be a useful means of value transfer. Because there is a fixed amount of bitcoin, the value is purely determined by aggregate supply-demand.
So it’s like a currency, but it isn’t backed by a government? That doesn’t
seem right.
Bitcoin begs the question: “Can there exist a currency backed purely by mathematics and computing power instead of a central issuer?”
Government backed fiat currency has long been the norm. It is a system where units of currency can be added or subtracted at the whim of the issuer. Staunch Bitcoin supporters feel it’s no advantage to the health of a currency that a few people have the ability to make arbitrary changes to it. With fiat currencies, the issuing government is charged with protecting all aspects of the currency, including counterfeiting. In the case of Bitcoin, math and computing power replaces government. The anti-counterfeiting duties are done by computer code and have never been defeated. There are many other aspects to consider on the subject of mathematics and computing power currency governance. The Bitcoin project is truly an economic experiment.
Where can I buy and sell bitcoins?
You can buy them from whoever has them and sell them to whoever wants them. There are centralized exchanges as well as decentralized options:
Coinbase.com is a USA-based centralized exchange that allows you to buy or sell bitcoins for a 1% fee using your checking account. Other exchanges include Bitstamp, MtGox, BTCChina, and BTC-E. Please do your own due diligence when choosing a bitcoin exchange.
If you’d rather avoid a fee, you can look on localbitcoins.com for a
buyer or seller to meet with personally.
This seems so complicated. I just want to play poker.
We offer this information for anyone who is interested, but understanding
the science behind Bitcoin is irrelevant to playing on Seals. Once you
have an account balance, it’s normal poker from there. (Normal poker with
low rake and cashouts in less than 12 hours, thanks largely to the
effectiveness of what we’re talking about.)
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It's good to have friends
It's better to have friends with boats
***GutZ***