Professional Documents
Culture Documents
Sokura N. Patoshi
Abstract: In today's current economic environment the
adoption of a universal poker coin, in the form of a
Counterparty.io asset, would naturally create a free
market of exchange in the online poker industry, bringing
an asymptotic decline in effective rake. The correct
parameters would ignite a mini poker/gold rush transferring
value, from current leading centralized site model, back
into the players 'ecology' via Naj Coin. The project is
considered successful if it can reach a tipping point in the
industry with respect to market cap vs. the current leading
centralized site's market share. The method is simple:
spread the adoption of crypto-currency by creating
incentive for early adopters to sign up for Counterparty
wallets. After the initial drop is complete, and with enough
useful nodes in the industry, a market will naturally arise
from the value the new, more efficient, network creates.
Naj Coin aligns individual minded players with the
betterment of the economy of the game by enticing them to
cooperate for their own individual gain.
1. INTRODUCTION
It is well know that the events of Black Friday and associated regulations dramatically changed the face
of online poker negatively in the eyes of the general player by essentially creating and sustaining a
monopoly in the industry[1]. The effective rake, which we define basically as profits leaving the game
to third parties, is the largest cost the individual player faces in their life time of poker, regardless of
whether that player is of the recreational type, the professional type, or something different or in
between[2][3]. Furthermore, we suggest that the effective rake currently offered to players is propped
up by these regulatory controls that effect, among other things, the liquidity or ability of the players to
play freely on whichever site they choose. The current network created between players, banking
networks, and sites is inefficient and costly compared to the new crypto-currency network being
created today. It is widely understood by knowledgeable persons in the crypto-currency industry that if
the poker network could somehow be flipped over to adopt crypto-currency, there would be a new
drive created for a freer and lower cost market, thus dissolving the current monopolist practices.[4]
Lastly, it is not at all an accident, and quite significant to point out, that crypto-currency functions at a
level slightly at the top of, and sometimes even above, current regulatory control.
REFERENCES
[1] Dominik Kofert, The Future Of Poker http://www.pokerstrategy.com/news/world-of-poker/TheFuture-Of-Poker-Dominik-Kofert-Blog_56247/ Feb 2006
[2] John Smith, Definition: Effective Rake
https://thewealthofchips.wordpress.com/2014/11/10/definition-effective-rake/ Nov 10 2014
[3] Newguy, Moral Poker http://forumserver.twoplustwo.com/showpost.php?
p=43037098&postcount=5 April 2014
[4] David Gzesh, Online Gambling: Bits and Chips - Bitcoin 2013 Conference
https://www.youtube.com/watch?v=qcfhzcF6RcE May 2013
[5] Nick Szabo, Transportation, divergence, and the industrial revolution
http://unenumerated.blogspot.ca/2014/10/transportation-divergence-and.html#links October 2014
[6] John Nash, Lecture: Ideal Money http://en.wikipedia.org/wiki/Ideal_money 1995-present (2014)