Why Bitcoin Poker Has Become Popular
I’ve been playing a lot more poker in the last two months than I have in the last two years. Part of that is because I have been playing online poker at Blockchain Poker. The website allows you to play Bitcoin online poker using BTC, Bitcoin Cash, and Bitcoin Satoshi Vision (BSV).
I’ve realized that there is a growing segment of the public that is getting into Bitcoin poker as opposed to the standard fiat version of the game. Here are some reasons why I think we are seeing growth in the Bitcoin poker sector.
Bitcoin Continues to Grow in Popularity
The biggest reason that we are seeing an increase in Bitcoin poker is the growth in the popularity of cryptocurrency. Presently, Bitcoin is between $17,500 and $18,000. It is also slowly becoming more accepted by the general public. There are many more places where you can spend Bitcoin today than there was even three years ago.
In March 2010, the world’s first bitcoin poker tournament took place, with the nascent digital currency serving as the unit of account. The buy in was set at 50 BTC, with the victor walking away with the prize of 1,000 BTC.#btc #bitcoin #blockchain #poker pic.twitter.com/Nm6qjOFU4D
— HASHCUBE (@Hashcube_mining) August 31, 2020
When something starts to become popular, people want more of it. One way to get more Bitcoin without having to pay for it is gambling. Online poker is a skillful gambling way to get more Bitcoin.
Playing for Satoshi Not the Same as Playing for Dollars Psychologically
If you play Bitcoin poker, you will be playing for satoshis or mBTC as opposed to USD, EUR, or other currencies. While we know that satoshis have a monetary value, they don’t have the same psychological impact as playing with USD. Losing a 20 mBTC pot does feel the same as losing a $355 pot.
Most pro poker players will tell you that you have to have a disregard for money to be able to play poker at the highest levels. Playing with mBTC or Satoshis will help you take some of the psychological impacts out of the game, generally making you a better player.
Any Bitcoin Won May Earn Value
If you win $1,000 in fiat currency, what will it be worth in a year? It will be worth $1,000. If you win 60 mBTC (~$1,050), what will it be worth in a year? It may be worth $1,200 or more. Bitcoin offers a unique opportunity for your money to grow after it’s won without any additional reinvestment. Imagine how much money people made when they won Bitcoin when it was at $5,000. They are likely very happy with their returns.
— Crypto Coins Matter (@coins_matter) November 17, 2020
Granted, the opposite can happen. You could win 60 mBTC and in a year it could be worth on $500. It can happen. However, over the long-term, Bitcoin has continued to go up in value. That’s why people buy and HODL. In your case, you can win and HODL.
You Can Start Playing for a Lot Less
If you want to play online poker without making a huge financial investment, then Bitcoin Poker is the way to go. Often, you can get started with BTC poker for less than $5. That’s if you plan to deposit Bitcoin to play poker. Some sites like Blockchain Poker offer freerolls that you can use to earn small amounts of cryptocurrency.
Other sites may offer faucets, but often you will do better by playing in freerolls. Any money won in freerolls can be spun up in cash games and tournaments. That’s how I got started on Blockchain Poker and I’m still playing there without having to deposit.
The reason you can deposit so little is that micro stakes Bitcoin poker games are much smaller than standard small stakes online poker games. Where you will be playing for pennies at fiat poker sites, you’ll be playing for satoshis at BTC poker sites. There are freerolls where the top prize is only about 1 cent in BTC. While it is a slow way to earn money, it is still money.
Low-Cost Way to Develop Your Poker Skills
Another reason Bitcoin Poker is popular is that you can work on your poker skills without an insane financial commitment. Some people are not willing to put in the financial investment to work on playing an aggressive style or to work on three-betting. However, BTC poker allows you the chance to work on those skills at limits that will not break you.
If you want to improve your skill level, you need to put in the time at the tables. Playing BTC poker allows you to gain experience while earning BTC. As your skill improves, you can move up in stakes or even move on to real money online poker sites. You have options, so why not take advantage of them.