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Upcoming Bitcoin Poker Tournaments
Bitcoin Frequently Asked Questions
What is Bitcoin?
Bitcoin is an electronic currency and payment system based on an open-source, peer-to-peer internet protocol. There is no centralized issuer; instead individual users volunteer computing power, 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?
Bitcoins 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 and 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. In a fiat system, 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 when 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 performed by computer code, and have never been defeated. There are many other aspects to consider on the subject of mathematics and distributed power currency governance. The Bitcoin project is truly an economic experiment.
Where can I buy and sell bitcoin?
The short answer is: you can buy bitcoin from anyone who has it, and sell bitcoin to anyone who wants it. Bitcoin is permissionless, easy to send and receive in any quantity, and functions similar to any other currency.
There are many centralized exchanges, as well as decentralized options. A growing number of merchants accept or exchange bitcoin, and bitcoin ATMs can be found around the world. We do not endorse any one exchange method.
This seems so complicated. I just want to play poker.
We offer this information for anyone who is interested. 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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This is Bitcoin Poker 3.0
SwC Poker is the original Bitcoin poker site. We helped create Bitcoin poker. By any measure, SwC poker is currently the largest bitcoin poker site. With anonymous accounts, industry-lowest rake, and fast cashouts, SwC Poker offers a player friendly experience that is truly a new style of online poker site.
Bitcoin Poker, at first, can sound complicated, but it is just refers to an online poker site that uses Bitcoin for players to make deposits and receive cash outs. Online poker has been around for over 20 years, and the biggest hurdle for players that entire time, has been depositing to play and cashing out winnings in an easy, fast and trusted way. With the invention of Bitcoin and r, players finally had a way to make real money transactions with Bitcoin Poker without the headache of dealing with financial institutions and middlemen.
It was only a matter of time before Bitcoin and poker came together to create the optimal situation for poker players, and SwC Poker was the first site to offer players that opportunity - offering the best and one of the longest running Bitcoin Poker platforms. With players now having full and transparent control of their poker funds, and being able to deposit and cash out Bitcoin in a fast and secure way, our players now can expect to have consistent and positive experiences with their transactions.
For players to make a deposit or a cash out to play Bitcoin poker, they will need to have a Bitcoin wallet. A Bitcoin wallet is where players can store their Bitcoins, or fractions of Bitcoins, and although not the same as a bank account, it is still a good way to think of your Bitcoin wallet. When making a deposit to SwC Poker you would be sending from your wallet to your SwCPoker account. When you cash out, you would cash out from your SwC Poker account into your Bitcoin wallet.
When you go to deposit on SwC Poker, you will receive a deposit address. This is the address you put into your Bitcoin wallet to send your selected amount of Bitcoin to SwC Poker. When you go to cash out, you will want to find the deposit address in your Bitcoin wallet and use it during the SwC Poker cash out request, this is what will guide your cash out into your Bitcoin wallet.
That is the only difference between Bitcoin poker and another online poker site, is that a Bitcoin poker site has embraced the technology of the future, one that gives users more control and less costs, and allows for your business to remain your business. We are proud to offer you the best Bitcoin poker games in the World and if you have any questions regarding deposits or withdrawals, please feel free to contact us.