Bitnplay, Bitcoin Only Poker Site to Be Launched on 1st February 2015

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Bitnplay, Bitcoin Only Poker Site to Be Launched on 1st February 2015

Bitnplay, a new and innovative Bitcoin-only Online Poker Platform, will be available from the 1st February 2015. The organization promises to offer a fair, secure, decentralized and friendly environment for all online poker players and eliminate the players’ counter-party risk with the operator, through Bitcoin’s revolutionary Blockchain technology.

Nonetheless, the founders of the poker site also believe that online poker which is currently dramatically constrained by the limitations of third-party risk, and the large-scale centralization of users’ funds, tied up in deposit accounts will be transformed for better. It says that due to these operator defaults resulted in the crippling of thousands of players’ wealth.

Also, as members of the Bitcoin community have suffered from similar issues when. Bitcoin companies that were centrally managing users’ funds have defaulted, Bitnplay says that its vision is to decentralize online poker, and offer the first trust-free platform. Here players do not need to trust Bitnplay with managing their funds.

Thus, according to the poker site its payment system is revolutionary in its transparency, security and simplicity. Also, on Bitnplay, there are no deposits required—buy-in to the tournament of the user’s choice, directly through their Bitcoin wallet. Nonetheless, upon finishing the tournament, the players will earn their winnings back to their wallet.

Unique Crowdselling Idea from the Poker Site

This European firm is developing is quite innovative when it comes to get funds for an initial marketing campaign to promote its new service. The company has announced a unique crowdsale in which 200 tokens will be sold for 2 Bitcoin each. According to it, each of the 200 tokens, which are issued using the Counterparty protocol.

The poker site says that each of these tokens can therefore be held in any Bitcoin wallet with user-controlled keys, entitles its owner to 100% rakeback for life. Also, in poker terminology ‘the rake’ is the service fee charged by the house for each hand played; so the token effectively offers its owner the ability to play poker on the Bitnplay site without ever paying any fees.

Nevertheless, the company informs that each token can be paired with the account of just one player; however, this relationship can be dissolved at any time by the token holder. Also, because the tokens can be traded on Counterparty’s peer to peer distributed exchange, they can also be sold on quite easily and paired with new accounts.

Nonetheless, this according to the company allows for some interesting investment options, including the trading of tokens, but also including the opportunity for token holders to share the rakeback with another player whilst keeping hold of the token.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com