knaveCoin
Well when I wrote about Bitcoin in 2013, it was when Bitcoin was worth $200 per coin (Does BitCoin Make Sense?) and I thought it would be good for USA poker players looking to get around the US online poker laws.
Now look at the price of Bitcoins and see that its price has gone into space.
Not only has the coin gone into space but now there are several organisations looking to make Ethereum the method to record the process of playing poker using Bitcoins. Sounds like a cracking idea, but, I see issues and I will probably get it wrong like I did when pontificating on whether Bitcoin makes sense!
The speed of the game, hacking issues and cheating.
Part of the poker game is cheating. Anything about winning and losing money will have cheating as a issue. How would a decentralised system reconcile any issues?
Would it be easier to hack a decentralised system using methods not yet thought of?
With 50+% needed to validate a transaction suppose there is a bottle neck in transaction?
If there are any developers out there on these projects of using blockchain technology, AI etc to create this new applications they probably have answers to all these issues and I am behind the technology…yet again.