Online Poker 2006 = Daytrading Stocks 1999

[Slonye6]

I'm glad you're here to tell us 'what the reality is.'

The actual reality is, those of us good enough to beat moderately tougher games (ie. not you) will continue to do just fine. Poker is not a fad, it's been around longer than you and will be around long after you have done something productive by fertilizing the earth.

Also, have you noticed that almost all the 'sky is falling' posts are from people with next to no posts (statistically FAR LESS knowledgable, and yes I see the personal irony here, what can I say I like to lurk) and the 'shut up you tard' posts are from those with thousands of posts (statistically FAR MORE knowledgable)?

Funny that.

PS - You're an idiot and know less than you think.

[Shoe]

I never realized the U.S. Government passed legislation prohibiting banks from letting us buying and selling stocks on the NASDAQ. A better comparison than nasdaq would be the prohibition of alcohol around 1930. Online poker will be back and it will be bigger than ever.

[LearnedfromTV]

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I never realized the U.S. Government passed legislation prohibiting banks from letting us buying and selling stocks on the NASDAQ. A better comparison than nasdaq would be the prohibition of alcohol around 1930. Online poker will be back and it will be bigger than ever.

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Please start a new thread for your analogy that makes sense. It has no place here.

[DocMartin]

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Man, I remember how great that 1999 World Series of Daytrading on ESPN was.

Pets.com had the OESFD on the flop but bricked against Amazon's AK.

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This was the only thing that made the thread worth reading.

[Gotmilk]

[ QUOTE ]
I'm glad you're here to tell us 'what the reality is.'

The actual reality is, those of us good enough to beat moderately tougher games (ie. not you) will continue to do just fine. Poker is not a fad, it's been around longer than you and will be around long after you have done something productive by fertilizing the earth.

Also, have you noticed that almost all the 'sky is falling' posts are from people with next to no posts (statistically FAR LESS knowledgable, and yes I see the personal irony here, what can I say I like to lurk) and the 'shut up you tard' posts are from those with thousands of posts (statistically FAR MORE knowledgable)?

Funny that.

PS - You're an idiot and know less than you think.

[/ QUOTE ]

The reality is that a catastrophic event just happened to the poker industry to disbalance whatever equilibrium it was in. At it's prior level X, it supported a certain number of winning poker players. At it's new level, it's going to support a much smaller number. Some people will leave on their own terms. But a lot of them are going to be current winning players who go broke in an environment with much less money to go around. And many of them will be the same 2+2ers who scoffed at the notion that there was going to be a major economic downturn.

OP's analogy was to the similar event of the Day Trading Bubble. He was comparing the eventual OUTCOMES not the exact sequence of events that led to those outcomes. He was comparing a certain market that could sustain a bunch of winning gamblers (a rising stock market) to a current gambling market (a growing poker market with a steady stream of deposits). That growing poker market just had a nuclear bomb hit it.

Some of you will continue to win, and will be able to say I told you so. And I'm sure we'll hear you say it. But others will just disappear into the night, not able to get their piece of the pie as there won't be enough to go around like there were in the good old days. And to deny that is simply asinine.

[BigBlind]

I agree with pretty much everything in your post.

I'm still cruising along just fine but don't expect this to go on forever. Pople who thinks so must be in denial.

Online poker will never go away. It will always be there for those who want a game. It just wont be as easy money to the droves of people it used to. Just like the stockmarket 1999.

[malorum]

I entered the meta-game on the premise that you have to be very much better than nearly everyone else. I was wrong. For a while there you didn't even have to know the rules properly.
Thing's change. My initial premise is not yet entirely true, but it's a little closer to the mark.

Middle limit is no tougher now than a year ago.

If you look at the subsection of the market that is very low limit full ring then perhaps your right that the efficiency of the games is now rather high.

If you rely on making a living off 1/2, 10 handed at a single site then you are a rather silly Ponzi scheme victim,
If not your now either:

1: helping pay my mortgage
2: taking some of my money
3: taking money off the many recreational players still out there.


If.. the market collapses totally (an asteroid strike might do this) I'll play another game.

[Mathemagician]

Don't get me wrong, it's not like poker will disappear totally. It'll just get marginalized, disappear from mainstream consciousness, and the firehose of liquidity that gives most of the "pros" an income will slow to a trickle.

Those who are merely very good players will become fish for the true masters, and a lot of players who posted high PTBBs during the boom will go negative EV. I can't tell you how many people I knew that decided to "go pro" as daytraders during the bubble, made a pretty good amount of money over a few months/years, and lived pretty large. Then they lost everything by refusing to face reality when the party ended.

When the dust settled, they had no savings, no job, sometimes an incomplete education, and a big hole in their resume that they couldn't easily explain. Sound familiar?

M

[sourbeaver]

I simply wish to point out that I daytrade for a living (in 2007, mind you) and I'm definitely not alone in the business, and am certainly not complaining about the money that's available out there.

Granted, there might not so be as many Joe-Street-Corner in the day-to-day markets as there were 7 years ago, but to say the niche has taken a hit the way you seem to predict poker will is pure sensationalism (both for poker and daytrading).

[ZPinhead]

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Don't worry, I'll be gone soon enough. It's just very interesting to see the same responses over and over again. Human nature is a fascinating thing. Enjoy your tulips!

M

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Oh, you mean like:

[ QUOTE ]
Sour grapes, bitches. The writing is on the wall.

M

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