Poker high rollers turn to cryptocurrency trading

Discussion in 'Bitcoin Poker' started by Humble Servant, Jun 27, 2017.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Bitcoin and crypto currencies have been good news for the world of online poker. US-based players can now easily deposit and withdraw at major US-facing poker rooms like Americas Cardroom and BetOnline without having to jump through hoops. Given that the world of online gambling has so wholeheartedly embraced the crypto-currency world, it shouldn't come as a surprise that many professional sports bettors and poker players are also investing and trading in crypto-coins like bitcoin, ethereum, litecoin and monero.

    In the world of online poker, high rollers are known to have a large appetite for taking risks. Given how much the price of bitcoin or any alt-coin can fluctuate in a give week, trading seems like a natural fit for these risk takers. As an example, just take a look at a recent post by poker professional Charlie Carrel...



    Carrel had previously posted about buying a large amount of BTC before the price skyrocketed from $1,250 to $3,000. After more than doubling his profit, it now seems that Carrel has turned his attention to ETC, which is the new kid on the crypto-block. Unlike with bitcoin, ether isn't accepted at most online poker rooms so Carrel would only be investing in the Ethereum because he thinks the value will likely increase over the coming months.
     
    Last edited: Jun 27, 2017
  2. Tommy82

    Tommy82 Member

    Any clown could have made money trading over the past 3 months because the value of everything was going up. When bubble bursts or there is a bear market, then people will learn how hard it is to make money trading cryptocurrencies unless you have insider information.
     
  3. The price of Ethereum has dropped over 30% in the past week so it looks like Charlie would be better off sticking to high-stakes poker.
     
  4. PokerGod

    PokerGod Member

    i hold about 90% bitcoin but i think it's a good idea to diversify the remaining 10% into other cryptos as a hedge.
     
  5. Dara

    Dara Member

    It seem the newest get rich quick scheme is ICO's. Initial Coin Offering. I overheard 2 barmen talking about ICO's last night. The world has officially gone mad. The SEC better step in and start shutting down some of these ICO's or people will get burnt.
     
  6. Humble Servant

    Humble Servant Active Member Staff Member

    Even Dan Bilzerian seems to have got in on the crypto currency action. He now owns bitcoin, ethereum, monero and bcash.

     
  7. Humble Servant

    Humble Servant Active Member Staff Member

    It certainly seems like the recent price correction from $17,000 down to $6,000 has freaked out many professional poker players who may have invested more than they could afford to lose...





     

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