Looking at the price of bitcoin since its creation, one can see a very slow stable increase in the price for a few years and then somewhere around the end of 2013 the price of bitcoin started to sky rocket until it hit nearly 1000 dollars.
At that point in time a scandal at the biggest bitcoin exchange MtGox was exposed and the price of bitcoin started to fall dramatically. What is interesting about MtGox is that it functioned much like a poker players centralized bankroll depository, such as pokerstars isle of man OR full tilt (poker before it was discovered to be an alleged ponzi scheme).
When the bitcoin bubble burst it dropped at an accelerated rate because, although there is knowledge that it is a highly stable commodity (and that its purpose is to be highly stable), there is still fear of new technology. Until bitcoin hits its tipping point there will be a lot of fear and distrust of it from ignorant people.
Crypto currency is an interesting technology seemingly not well understood by anyone especially the general public. I would like to contend there are very few people in this world, perhaps only a handful, that actually understand the scope and extent of what this technology is.
One of the valuable aspects this technology brings to the players in terms of poker and specifically players bankrolls, is it allows players to keep their bankroll on their own devices, and make reasonably fast (and cheap) transactions to either deposit/withdrawal to a bitcoin poker site, or to send to anyone in the world in an anonymous and irreversible fashion.
There are also some interesting technologies we can note. What one new technology allows us to do is create a poker coin and start to back it on the bitcoin blockchain or specific bitcoins themselves. We might assume as bitcoin builds its entire infrastructure and is adopted by the general public of the world, that pegging a ‘poker coin’ to bitcoin has potential to make the poker economy highly and ultra stable.
This should be intriguing because when players own their own game they can pool their own wealth this means their ‘poker coin’ can have its own value. And depending on how well players set up the new model for their game, that value can increase rapidly and in an accelerated fashion.
In the future, players can choose with their monies (whether their collective wealth and raked monies from the game, or individual money) to peg it to anything they choose.
This means nobody can complain about the stability of decentralized poker in a monetary sense, because a poker players bank roll with new technology has the ability (if they are an intelligent good player) to be the most stable savings account known to the current history of man and/or they can choose to invest their monies and the bankroll itself becomes an automatic investment while still being used to play poker. None of which can be taxed as capital gains lest the governments shoot themselves in the foot, dissolving their own current business model of printing fiat money .