Parallels between a Bitcoin and Poker mindset

Having enjoyed playing Poker as a serious hobby for on a decade now, I’m most thankful and passionate about the lessons I’ve been able to transfer to life and business. I talk about this in further detail in a post titled ‘8 Reasons Corporates should be hiring Poker Players’

In this particular post I explore the parallels I’ve found between a Bitcoin and Poker mindset.

1) Long term outlook — Just like Bitcoin miners know that expending the most work in the POW lottery will win out over time, and to delay gratification/’hodl’ for the future, Poker players know that short term results are non indicative of what will happen in the long run.

2) Know the importance of conviction — As a follow on from above, both understand the importance of gaining as much knowledge/conviction as possible so as to be able to deal with and continue to participate in the face of the inevitable volatility (Bitcoin) and downswings (Poker).

3) A cry for freedom — I think part of the allure of playing poker is an ability to play when you want, how you want, where, at what stakes, what variant, free from direction etc. Bitcoiners similarly seek something that is permissionless, pseudonymous, peer 2 peer, open to all, 24/7.

4) Equal opportunity/equal discrimination — Both mindsets love meritocracy. If you pony up a buy in Poker you can go head to head with the ‘best’. A deck of cards doesn’t care who you are. Likewise Bitcoin doesn’t care who you are, there’s no gatekeepers. You aren’t rewarded with more or less depending on xyz circumstance.

5) Value Privacy — This isn’t to say both mindsets are closed and won’t knowledge share, it’s evident the opposite of this is true. This is to say that both sides value not living as a public live stream so as to not be exploited (maybe by advertisers, algorithms, opposing players etc).

6) Desire for truth — As the famous Bitcoin saying goes “don’t trust, verify”. Similarly poker players may want to “check the solver” to see if their play was justified. Both mindsets won’t sit around and ‘wonder’ or trust an authority’s word. They will check facts and confirm.

7) Reserve right to adjust — Just like the difficulty algorithm adjusts as per mining activity, or BIP’s (Bitcoin Improvement Proposal’s) may be submitted in Bitcoin, Poker players reserve the right to deviate from a baseline dependent on new information/strong reads… just don’t ‘hard fork’ from the theoretical optimal ;).

8) Realise importance of emotional management — Having recently read a decent amount of mainstream coverage re Bitcoin breaking up couples etc, I wanted to add this point in. Not only is it about maintaining rationality during the bear runs, but humility during the bull runs. Tilt works both ways.

My other short form Bitcoin articles -

15 Points of Interest that sent me down the Bitcoin Rabbit Hole
If Bitcoin was a Parent?
Reasons explaining Bitcoin to my Filipino Mum went suprisingly smooth Some Light Bitcoin Objection Handling
How the mystery surrounding ‘Who is Satoshi?’ protects us from cognitive biases
Am I too late to Bitcoin in 2021?
Why I’m honed in on Bitcoin and not crypto, altcoins, DeFi, NFTs, blockchain etc

** Orange Pill Talent is a specialist Headhunting and Recruitment services firm partnering exclusively with companies involved in the business of Bitcoin. We cover contingent workforce and permanent white-collar hires, Australia wide and globally. If you’re looking to source and secure talent for your team please reach out via email: hello@orangepilltalent.io, Signal PM: +61439191999, or Telegram: @orangepilltalent **

Originally published at https://www.linkedin.com.