Just 1-2 weeks ago, I was selling bitcoins I earned at the virtual felt for $75! Don't I feel like an idiot when I check out the latest going rate for BTC was $142 - nearly double what I sold it for 2 weeks ago!?!??!
I continue to keep grinding away at Seals With Clubs, but I'm beginning to wonder what will happen as the price of BTC continues to rise - or stays at its current levels. The lowest current offering is a 1/1 NLHE game. Each chip is worth 1/1000 of a BTC. I'm no math genius, but my spidey skills say that each chip is worth $0.14 meaning that a full buy in at 1/1 is playing bigger stakes than 10NL - $14.00. I'd imagine that for a lot of people, the buy in has become too big and they're becoming dissuaded from playing on the site.
I fear that the prior "easy money" games at the lower stakes will dry up with the rise in the price. I'm worried that a lot of the players have "BTC inventory" if you will, having bought the BTC prior to its recent run-up. I have to become used to getting paid off on most every hand - flopping sets on an A high board and stacking a mouthbreather thinking his A2o is good - not only stacking off, but calling off an all in shove raise.
On the other hand, I'm seriously wondering whether I should be cashing in or holding my extra BTC. As I continue to grind, I'm adding an increasing amount of coins, selling as I get them. Should I be holding my "investment" for greater returns later? I've heard reports talking about how bitcoin is expected to rise to $1,000 - wouldn't that be a huge coup? Over the past month or so, the going rate for the coin has risen around 6%
PER DAY! WTF?!?!?!?
As with real life investing, I've always taken the approach of dollar cost averaging - to date, I've tried to take the same approach with bitcoin; as I get the BTC, I've sold them periodically at the different price points. I'm thinking I'm going to stray from that prior course of action and see how many coins I can accumulate and hold.
Finally, I'm rarely posting hand histories, so I wanted to share a hand where I didn't get paid [a rarity]. I was hoping the villian hit a straight on the turn, or had any hand - he called my flop bet. I wasn't
able to extract much of anything for the royal flush, and the high hand promotion has
gone away. I checked the
Cardschat odds for hitting a royal flush and it seems to be 649,739:1. According to
Wikipedia, those are pretty crazy odds. It's highly unlikely. The weirdest part is I've played around 1.2 million hands, yet hit 3-4 royals lifetime. I guess I run good at my royal flush per hand played ratio...
Perhaps you have alternate opinions as to how I could have played this hand a bit better. It obviously plays pretty easy once I hit the royal - my second or third [online] lifetime royal. Certainly, this counts as my first royal since I won the $800 for hitting the live royal flush at Charles Town a few months back. Check it out:
Game: NL Hold'em (40 - 200) - Blinds 1/2
Site: Seals With Clubs
Table: NLHE 9max 1/2 #6
Seat 1: WXXXXe (177)
Seat 2: mXXXXc (201)
Seat 3: lXXXXXe (94)
Seat 4: fXXXXXr (312)
Seat 6: mXXXXa (259)
Seat 7: DXXXXw (172)
Seat 8: kXXXXXe (182)
Seat 9: KXXpFloppin (772)
mXXXa has the dealer button
DXXXXw posts small blind 1
kXXXXe posts big blind 2
** Hole Cards **
Dealt to KXXpFloppin [Tc Kc]
KXXpFloppin calls 2
WXXXXXe folds
mXXXXc calls 2
lXXXXe folds
fXXXXr folds
mXXXXa folds
DXXXXw calls 1
kXXXXe checks
** Flop ** [Qc Th Ac]
DXXXXw checks
kXXXXe checks
KXXpFloppin bets 8
mXXXXc calls 8
DXXXXw folds
kXXXXe folds
** Turn ** [Jc]
KXXpFloppin checks
mXXXXc checks
** River ** [4d]
KXXpFloppin bets 100
mXXXXc folds
KXXpFloppin refunded 100
KXXpFloppin wins Pot (24)
Rake (0)
KXXpFloppin shows [Tc Kc]
He had AK for the TPTK. I made a crying call on the river - not seeing him raising K9 in this spot like that on the turn. 97 is still in his range. Perhaps I'm making more out the hand than it's worth; he either had 97 on the turn for the better straight, or is overplaying his hand non-straight. I think I can safely make this 4 straight call and be good a very high percentage of the time. I was kicking myself later, because I should have pushed out my last $~75, but snapped it off pretty quickly. I didn't see what the MP guy had, though he was pissed that I made the call; he claimed to have made two pair by the river.