Bitcoin is innovative digital technology that enables parties to transmit
information ownership over a network named blockchain. Since the number of bitcoins is limited by its design it is a scarce digital commodity As a reflection the most common use of Bitcoin messages is payment of value. when one sends bitcoin he is actually transferring value.
Bitcoin presents few advantages for online poker.
For poker players, there are a lot of good reasons to play poker with Bitcoins. The main advantages of this are:
Security: Bitcoins are based on encryption technology which prevents forgery.
Anonymity: A very big advantage is anonymity. Unlike any other traditional payment methods where detailed information of the party which makes the payment, Bitcoin accounts are anonymous and self-stored…With Bitcoin poker sites usually also sufficient to specify a mail address to be able to play right away. Even with the usual payouts identity check is omitted. Who plays thus in a country where online poker or casino games fall into a gray area here has an additional protection.
Cost: There are no or only minimal transaction fees. At BTC poker rooms deposits and withdrawals are usually free.
Speed: transfers are confirmed very quickly. Payments usually also take place very quickly lest than an hour for complete confirmation.
No central authority or regulation. Using bitcoin as payment is a perfect way to dodge regulations where playing online poker is banned and players/providers funds are at risk of being seized by authorities
Weak players many bitcoin players claim that the level of poker players in bitcoin poker sites is relatively low since most of them are bitcoin enthusiasts and not poker savvy.
Other cryptocurrencies/altcoins used of poker:
Dogecoin poker, litecoin poker(lite coin poker, LTC poker), Ethereum poker (ETH poker), Clam poker, Namecoin poker, Reddcoin poker, Monero poker, Dash poker, Peercoin poker.
Bitcoin is symboled BTC, XBT, Ƀ ฿