Fermat's Library | Ideal Poker and Asymptotically Ideal Poker annotated/explained version.

Idea Poker is the revelation I had from repeatedly reading Ideal Mo...

I chose to call "ev" the commodity here, but I guess it might have ...

"Ev" or chips as a technology isn't something that will seem plausi...

PSFTFBICIADOJ is defined later but stands for Poker Stars, FullTilt...

I do think [a relevant comparison](https://thewealthofchips.wordpre...

This paragraph seems to read better than the original in ideal mone...

I think there is a point here to be made about how poker sites simp...

At its fundamental level poker allows the "fair" transfer of wealth...

This is a key point phrased in a way people will not likely identif...

This is the part of the essay that struck me the most. By the intr...

We see here that Ideal Poker levates questions about a player run s...

Now we begin to consider a rake standard.

Here is the application of Ideal Money in terms of poker. The play...

Here lies the definition of PSFTCIAFBIDOJ (spelled wrong in this pa...

The levation of a rake standard!

It is very easy to see the political ramification of such a system ...

The introduction of the concept of a "poker currency" [Naz](https:/...

Ideal Money and its Keynesian analysis allows poker players to unde...

It is sites and their policies that controls the profitability of t...

Effective Rake from the players perspective is [difficult to define...

Here we have the concept of an international site which might arise...

Here we have the effects of what might be possible IF there were in...

As we see poker and technology evolve this standard becomes more an...

And so this standard might allow a comparable rake to spread throug...

Players might realize it is not enough to simple know about or crea...

Nothing is guaranteed, but it might be that a site arise with a gua...

Again we talk about a poker currency that might emerge, but also al...

http://pokerfuse.com/news/industry/27391-gpi-organizes-secret-summi...

Here is the fun part. We compare the current Keynesianist practice...

The argument is often such polices as rake targeting are not the bu...

The analogy here is clear, and the result here regardless of the wa...

So here we want to ask in regards to our actual financial system an...

Lecture by John F. Nash Jr.

Ideal (rakeless) Poker and Asymptotically Ideal (rakeless) Poker

The special commodity or medium that we call EV has a long and interesting history. And since we are so

dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to

lose what we have we may become irrational in thinking about EV and fail to be able to reason about it

like a technology, such as radio, to be used more or less efficiently

So I wish to present the argument that various interest and groups, notably including PSFTFBICIADOJ

has sold to the players a “quasi-doctrine” which teaches, in effect, that “less is more” or that (in other

words) “raked poker is better than not raked poker”. Here we can remember the classic ancient

economics saying called “Gresham’s law” which was “the bad money drives out the Good” The saying of

Gresham's is mostly of interest here because it illustrates the “old" or “classical" concept of “bad money" and this

can be contrasted with more recent attitudes which have been very much influenced PSFTFBICIADOJ and by the

results of their influence on poker site policies since Black Friday.

Digression on the Philosophy of Poker

It seems to be relevant to the politics of poker site decisions that affect the rake promoted by sites that there are

typical popular attitudes in relation to it. Although chips themselves are merely an artifact of practical usefulness in

poker communities and/or sites, there are some traditional or popular views associating chips with sin or immorality

or unethical or unjust behavior. And such views can have the effect that an ideal of rakeless poker does not seem

such a good cause as an ideal of a good public water supply. There is also, for example, the Islamic concept which

has the effect of classing as “usury" any lending of money at interest. (Here we can wonder about what sort of

inflation rates might have been typical for any major varieties of money, such as Byzantine money, at the times

actually contemporaneous with the Prophet Mohammed.)

In general, chips have been associated in popular views with moral or ethical faults, like greed, avarice, selfishness,

and lack of charity. But on the other hand, the existence of chips often makes it easy to make valuable donations of

philanthropic sorts and the players receiving such contributions tend to find it most helpful when the donations are

received as chips!

But the New Testament story about “money changers" being driven from the Temple illustrates clearly the idea of

putting the clearly mundane and possibly “unclean" utility of chips at some distance from where those chips would

presumably continue to be received when used as a vehicle for donations.

Economics has been called “the dismal science" and it is certainly an area of studies where “the mundane" is

appropriately studied. And philosophically viewed, chips exists only because humanity does not live under “Garden

of Eden" conditions and there are specializations of labor functions. So we are always exchanging, mediated by

chips transfers, the differing fruits of our varied forms of labor.

Welfare Economics

A related topic, which we can't fully consider in a single lecture, is that of the considerations to be given by the

poker society and poker sites to “social equity" and the general “economic poker welfare". Here the key viewpoint is

methodological, as we see it. HOW should the poker society and the poker site authorities seek to improve economic

poker welfare generally and what should be done at times of abnormal economic difficulties or “depression"

(variance)?

We can't go into it all, but we feel that actions which are clearly understandable as designed for the purpose of

achieving a “social welfare" result are best. And in particular, programs of unemployment compensation seem to be

comparatively well structured so that they can operate in proportion to the need.

Money, Utility, and Game Theory

In the sort of game theory that is studied and applied by economists the concept of “utility" is very fundamental and

essential. Von Neumann and Morgenstern give a notably good and thorough treatment of utility in their book (on

game theory and economic behavior). The concept of utility (mathematical) does indeed predate the book of Von

Neumann and Morgenstern. And for example, as a concept, mathematical utility can be traced back to a paper

published in 1886 in Pisa by G. B. Antonelli.

When one studies what are called ”cooperative games", which in economic terms include mergers and acquisitions

or cartel formation, it is found to be appropriate and is standard to form two basic classifications:

(1): Games with transferable utility.

(and)

(2): Games without transferable utility

(or “NTU" games).

In the world of practical realities it is money which typically causes the existence of a game of type (1) rather than

of type (2); money is the “lubrication" which enables the efficient “transfer of utility". And generally if games can be

transformed from type (2) to type (1) there is a gain, on average, to all the players in terms of whatever might be

expected to be the outcome.

But this function of chips in generally facilitating the transfer of utility would seem to be as well performed by the

currency of PSFTCIAFBIDOJ as by that of a player run site. Or the question can be asked “How do `raked poker'

and `rakeless poker’ differ, if at all, for the valuable function of facilitating utility transfer?". But if we consider

contracts having a relatively long time axis then the difference can be seen clearly.

Consider a poker society where the chips in use are subject to a rapid and unpredictable rate of rake so that chips

worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend chips for the term of a

year?

In this context we can see how the “quality" of a rake standard can strongly influence areas of the poker economy

involving financing with longer-term credits.

And also, if we view rake as of importance in connection with transfers of utility, we can see that rake itself is a sort

of “utility", using the word in another sense, comparable to supplies of water, electric energy or telecommunications.

And then, if we think about it, we can consider the quality of rake as comparable to the quality of some “public

utility" like the supply of electric energy or of water.

“PSFTCIAFBICIA”

The actions of the DOJ was actually multi-dimensional and consequently there are quite different varieties of

persons at the present time who follow, in one way or another, some of the thinking of the DOJ. And of course

SOME of its thinking was scientifically accurate and thus not disputable. For example, FT was labeled a Ponzi

scheme. The label “PSFTCIAFBICIA" is convenient, but to be safe we should have a defined meaning for this as a

party that can be criticized and contrasted with other parties. So let us define “PSFTCIAFBICIA “to be descriptive

of a “school of thought" that originated at the time of Black Friday on April 15 2011. Then, more specifically, a

“PSFTCIAFBICIA " would favor the existence of a “manipulative" state establishment of raked poker and poker

skin which would continuously seek to achieve “raked" objectives with comparatively little regard for the long term

reputation of the poker currency and the associated effects of that on the reputation of poker sites domestic to the

state. And indeed a very famous saying of PSFTCIAFBICIA was “...in the long run we will all be dead...".

Ideal (rakeless) Poker as a Concept

A paper has already been published on the topic of “Ideal Money" and with that title. That paper of ours was

published in the Southern Economic Journal after a lecture had been given on that topic at the meeting of the

Southern Economic Association in Tampa, Florida. So it is better now not to cover again in full the grounds of the

ideas presented there and the specifics about how “ideal money" currencies could be arranged for by using linkage

to an appropriate index of the prices of internationally traded commodities. (Note that gold and silver are

EXAMPLES of internationally traded commodities.)

In Transition to Optimal Standards

Our view is that if it is viewed scientifically and rationally (which is psychologically difficult!) that rake should have

the function of a standard of measurement and thus that it should become comparable to the watt or the hour or a

degree of temperature. And chips, as an efficient practical means of transferring utility, naturally links directly with

the game theoretic idea of “TU games" (games with transferable utility)

(Of course it is well known that in general the psychological reaction of a human of this world in relation to

alternative prospects involving his or her receipt of money, this with elements of uncertainty linked with

probabilities, tends to be NON-LINEAR. And this has the effect that the human individuals utility for chips is

typically a non-linear function, as it were, of the prospective quantities of chips to be possibly received.) It is so

desirable in game theory to have transferable utility that that those using game theoretic analyses go ahead and use

the transferable utility concept although it might not be entirely fitting except for individual games of comparatively

small weight played by large poker sites.

The paper called “Ideal Money" that was recently published in the Southern Economic Journal presented a possible

conventional basis for money of “ideal" type. This variety of money would be intrinsically free of “inflationary

decadence" similarly to how money would be free from that on a true “gold standard", but the proposed basis for

that was not the proposal of a linkage to gold.

But it seems very likely that, although that scheme for arranging for a system of rake with ideal qualities would

work well, that, on the other hand, it would be politically difficult to arrive at the implementation of such a system.

(One can observe, for comparison, the difficulties that are found in connection with issues of which national regions

should or should not be included with the group making use of the new “poker" currency. For example, the US

player would like to become world members but the PSFTCIAFBIDOJ are not convinced that they would be

beneficiaries by inclusion.)

The Confessional of Targeting

It was the observation of a new “line" that has become popular with those responsible for “raked" functions relating

to national poker sites that gave us the idea for the study of “asymptotically rakeless" poker.

The idea seems paradoxical, but by speaking of “rake targeting" these responsible officials are effectively

CONFESSING that, notwithstanding how they formerly were speaking about the difficulties and problems of their

functions, that it is indeed after all possible to control rake by controlling the supply of chips (as if by limiting the

amount of individual “prints" that could be made of a work of art being produced as “prints"). This popularity of the

line of “rake targeting" seems to have started in the US, which is the place, among the USA, Canada, Australia, and

Europe, which had the most losing players. And we can note also that US was hardly a place where any crisis of

poverty really forced them to not maintain the value of their chips but rather just a place where “raked" thinking was

probably very influential.

Our observation, based on thinking in terms of “the long term" rather than in terms of “short range expediency", was

simply that there is no ideal rate of rake that should be selected and chosen as the target but rather that the ideal

concept would necessarily be that of a zero rate for what is called rake.

But of course, also, poker sites of a state cannot actually do anything of the form that can be called “rake targeting"

without having some means for measuring rake. How would they do this? The means for measuring inflation that

they would naturally use would be a “deposits raked" index relating to domestic transactions within the territory of

the state.

In the USA the standard domestic “deposits raked" index has a long history and it actually originated back in the

days when the USA was still on the “rake standard" with regard to the monetary standards being accepted then. And

most sites nowadays having large domestic economies also have some sort of an analogous index of ‘deposits

raked’.

Currencies in Competition

It is observable that certain types of player organizations, such as large internationally operating staking companies,

tend to migrate to sites where the rake is of at least comparatively higher quality (such as, not Party Poker).

In the near future there may be a smaller number of major sites used in the world and these may stand in

competitive relations among themselves. There is now the “euro" sites and the old history of the UB scandal is past

history now. And there COULD be introduced, for example, a similar international site for the Islamic world or for

South Asia, or for South America, or here or there.

And if “rake targeting" were used as a “line" by the managers handling all of these various internationally prominent

sites then there would arise interesting possibilities for comparisons between these major sites. Each of the sites

managed thusly would have its officially recognized status in terms of rake as measured by the domestic index of

deposits raked of the state of the managers. But also, and this is what is more significant from an internationally

oriented viewpoint, the various rakes would have rates of exchange so that they could be realistically compared in

terms of their actual values.

And so the various currencies managed with “rake targeting" would be comparable by professional and recreational

players who would be able to form opinions about the quality of the rake. And what I want to suggest is that “the

public" or the players, those for whom a medium of exchange functions as a basic utility, may develop opinions that

are critical of rake of lower “value quality". That is, the public may learn to demand better quality of that which

CAN be managed to be of better quality or which can be managed to be of the lower quality observed in so many of

the various poker sites in the 21st century.

So here is the possibility of “asymptotically ideal (rakeless) poker". Starting with the idea of value stabilization in

relation to a domestic ‘deposits raked’ index associated with the territory of one state, beyond that there is the

natural and logical concept of internationally based rake comparisons. The sites being compared, like

PSFTCIAFBIDOJ, Merge, Party Poker, etc. can be viewed with critical eyes by their players and by those who may

have the option of whether or not or how to use one of them. This can lead to pressure for good quality and

consequently for a lessened rate of rake.

Illustrating the principle of these optional choices, the people of Sweden recently had the opportunity of voting in a

referendum on whether or not Sweden should join the Eurocurrency bloc and replace the kronor by the euro and thus

use the same currency as Finland. The people voted against that, for various reasons. But it cannot be irrelevant

whether or not the future quality of a rake is really assured or whether instead that it depends on the shifting sands of

poker site decisions or the possibly arbitrary actions of a bureaucracy of officials (PSFTCIAFBIDOJ).

The voters in the U.K. are expecting to have the opportunity to vote in a referendum relating to the adoption, for the

U.K., of the euro (which is already adopted in Ireland). Here they have a dramatic conflict, since the pound was the

original currency of “the gold standard", with its value pegged to gold in 1717 by Isaac Newton who was then

Master of the Mint. (Of course it was not irrelevant that George II, the king then, was an early Hanoverian and also

ruled territory in Germany.)

In recent years the rake has had a comparatively good rating with regard to inflation, inferior to the rating of the

Swiss franc but superior to most currencies of the world. So the British have the alternatives of accepting adoption

of the euro when first voting, or after a delay, or never.

We can legitimately wonder how the speediness of its adoption or delays in its adoption might affect the policies

operating to control the actual exchange value of poker deposits. The constitutional structure of the authority behind

rake is of the “chips" character in that nothing is really guaranteed as far as the value of the chips is concerned. But

this is typical of all currencies used in the world nowadays.

Of course when a poker currency, for a time, does have a specification of its value beyond the local fiat of

administrators in its national home, like the money of PS and FT had a peg to the U.S. dollar a few years ago, then

international observers can wisely distrust the reliability of such a stabilization of its rake. Such forms of value

definition are not necessarily unsound, particularly when a small poker economy, like that of Merge, links its

currency to that of a larger area like that of the USA. But it is obvious that this sort of thing puts a burden on the

foundation of the rake that is used as a reference basis.

For example, if all sorts of non-US countries decided to define the values of their rake as less than with the US sites,

without actually joining into any system of cooperative regulations associated with that, then the effect of that would

seem likely to destabilize the stability of the US sites if it would otherwise be highly stable and of high rake.

Political Evolution

There perhaps will always be “rake", like also “death and taxes". But it is sometimes remarkable how poker

strategies can evolve. And in relation to that I think that it is possible that “PSFTCIAFBIDOJ " are like a political

faction that will become less influential as a result of poker revolution. The “PSFTCIAFBIDOJ” view of things did

not come into existence until after the time when what we can call “Black Friday" had become established in the

US. And by this label we wish to differentiate between any theoretical or ideal concept of justice and the actual form

of governing regime structure that came to exercise state power on the poker community. (All over the world

varieties of sites make claims to have systems very properly or even ideally devoted to the interests of the

professional or recreational players of those sites and always an externally located critic can argue that the site is

actually a sort of despotism.)

PSFTCIAFBIDOJ implicitly always have the argument that some good managers can do things of beneficial value,

operating with the skins, and that it is not needed or appropriate for the players or the “customers" of the chips

supplied by the site to actually understand, while the managers are managing, what exactly they are doing and how it

will affect the “ROI" circumstances of these players.

I see this as analogous to how the PSFTCIAFBIDOJ were claiming to provide something much better than Ponzi

schemes that they could not deny existed in all other sites. But in the end the “dictatorship of the proletariat” seemed

to become rather exposed as simply the dictatorship of the regime. So there may be an analogy to this as regards

those called “PSFTCIAFBIDOJ” in that while they have claimed to be operating for high and noble objectives of

general poker welfare what is clearly true is that they have made it easier for their sites to “print money".

So I see the entire privately raked community as in a weak sense comparable to the “PSFTCIAFBIDOJ " because of

the support of both parties for a certain “lack of transparency" relating to the functions of poker sites as seen by the

players. And for both of them it can be said that they tend to think in terms of sites operating in a benevolent fashion

that is, however, beyond the comprehension of the player of the raked sites. And this parallel makes it seem not

implausible that a process of poker revolution might lead to the expectation on the part of players in the “great game

types" that they should be better situated to be able to understand whatever will be the rake policies which, indeed,

are typically of great importance to players who may have alternative options for where to place their “deposits".

Opening for Questions or Debate

<<<<<<<<<<<<<<<<<<<<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>>>>>>>>>>>>>>>>>>>>>>>>>>>

(The talk text, just for the “ideal money" topic, originally derives from my outline for the lectures given at various

specific locations of the “European School of Economics" in Italy during October 1997. Subsequent to that time,

after consulting with some of the economics faculty at Princeton, I learned of the work and publications of Friedrich

von Hayek. I must say that my thinking is apparently quite parallel to his thinking in relation to money and

particularly with regard to the non-typical viewpoint in relation to the functions of the authorities which in recent

times have been the sources of currencies (earlier “coinage").) (There were some later revisions and expansions of

the text on “Ideal Money" and I subsequently also spoke on this topic at Northwestern, at Yale, in Athens, Greece, at

a meeting in Tampa, Florida, at Peking University in Beijing, China and at a meeting in Mumbai, India. And then

my lecture at the Tampa meeting was published in the SEJ journal.) (And the portion specifically concerned with

\asymptotically ideal" currencies was added first for a talk at the University of Massachusetts at Amherst.)

Converted to LATEX and PDF formats by G. Jogesh Babu

Discussion

Here we have the effects of what might be possible IF there were in fact the levation of an (transparent) effective rake standard in which players could see where their monies are best exchanged for chips. But without the ability of inter-site transfer such a standard might not seem so interesting ;) So here we want to ask in regards to our actual financial system and Ideal Money, and also the poker economy and Ideal Poker, IS there a political (r)evolution going on? And is there and alternative option for which players or citizens can players their deposits/savings? Players protesting rake policies: [Red Wednesday: Remember, Remember; the 5th of November](https://thewealthofchips.wordpress.com/2014/11/05/remember-rememeber-the-5th-of-novemember/) Players might realize it is not enough to simple know about or create this standard, there must be change demanded and implement from authorities and leaders in the industry (includes pros!). [The Future Model for Poker Sites](https://thewealthofchips.wordpress.com/2015/06/15/3194/) It is very easy to see the political ramification of such a system whether in relation to "sites" as governments or actual governments themselves that have been setting tax and regulatory controls on these sites. I do think [a relevant comparison](https://thewealthofchips.wordpress.com/2015/08/11/greshams-law-in-relation-to-poker-and-player-pools/) can be made in regards to player pools and the poker ecosystem. What it really means to outline is the question of why players won't leave sites that aren't profitable? "Ev" or chips as a technology isn't something that will seem plausible, but in regards to a field of players and their ability to coalesce (or not) against some form of a seemingly external or third party entity may not only seem plausible in the future but also quite helpful as a perspective. We see here that Ideal Poker levates questions about a player run site and what rake policies might be that best sustain the environment. This is how we begin to see [how poker's economy functions like an e-currency](The Importance of Relating Online Poker to an E-currency Network and Hidden Factor of Effective Rake) (also [here](https://thewealthofchips.wordpress.com/2015/01/09/the-global-state-of-online-poker-why-taxation-and-regulation-of-poker-sites-is-not-feasible/)) This paragraph seems to read better than the original in ideal money. Every poker professional can sympathize with the stigma poker, chips, and gambling as a profession has in our society today. This makes it difficult to mount any decent political argument for the long-term success of poker if the opponents (Adleson) strategy is based on ignorance of the masses. So on the one hand "raked" monies isn't the most favorable topic of the player, but at the same time poker can be set up to serve the needs of few or the needs of many in terms of philanthropy. I think there is a point here to be made about how poker sites simply function as an exchange. But since we seem to get the same amount of chips on each site it might not seem like there is a comparable point to be made about the quality of exchange rates players are offered. But since the value of the chips on each site differs then there is in fact some relevant aspect. Here lies the definition of PSFTCIAFBIDOJ (spelled wrong in this paragraph: "...would favor the existence of a "manipulative" state establishment of raked poker and poker skin which would continuously seek to achieve "raked" objectives with comparatively little regard for the long term reputation of the poker currency and the associated effects of that on the reputation of poker sites domestic to the state." Very clearly, this term replies to those that think 3rd party sites should be in charge of rake polices, vs those that can a decentralized poker system that is controlled by the players! Now we begin to consider a rake standard. The introduction of the concept of a "poker currency" [Naz](https://thewealthofchips.wordpress.com/2014/11/06/nas-coin/) This is a key point phrased in a way people will not likely identify with. The point is very well expressed in Ideal Money as well with the phrasing (capitals) of the word "HOW". If we are to be methodological, we want to start from a point of inquiry, not conclusion. Today we as players are faced with the belief that market competition sets the rake at the optimal levels. But optimal for whom and what? Rake as a % might be very different if there was found and ideal % (possibly an algorithm) that allowed the most profitable and sustainable games to flourish. So the point here is a highly competitive environment with many different rake % schemes might end up levate a better system than today's Keynesian type centrally chosen policies. This is the part of the essay that struck me the most. By the introduction of a transferable utility (ie a money!), games that are generally zero sum and be thought of in terms of games in which everyone gains. This then I believe is the future evolution of a poker strategy. How is it the players could formulate their own strategy in the way that poker becomes not zero sum? Idea Poker is the revelation I had from repeatedly reading Ideal Money to the point where I was convinced that not only were there great ramifications to our global financial system but that they were also applicable to poker. Keep in mind then I did not particularly write this lecture, but simply rather exchanged words like money and banks, for chips and poker sites. In this I think there can be great insight had for players and peoples in regards to not only the evolution of poker and games in general but also the proposal of Ideal Money by John Nash itself. So there is humor here I think but also intelligence in this presentation, as the general concept of either Ideal Money or Ideal Poker are quite the paradigm shift. Please take your time, and share! Here is the application of Ideal Money in terms of poker. The players are to learn about a new standard of rake, a ideal standard, in which they can use to coalesce around and bring out a more profitable sustainable environment. We are to think about this standard as a public right. The levation of a rake standard! [Levating an Effective Rake Standard](https://thewealthofchips.wordpress.com/2015/07/26/levating-an-effective-rake-standard/) Ideal Money and its Keynesian analysis allows poker players to understand what they are really being sold which is the profitability of a given field. We give this concept the name [Effective Rake](https://thewealthofchips.wordpress.com/2014/11/10/definition-effective-rake/) [Naj Coin](http://www.scribd.com/doc/247233585/Naj-Coin-the-Universal-Players-Coin) This is the key point of the paper, and something that I have sought to show and I think I have shown well. Players have been sold a Keynesianistic version of poker which causes us as players to favor (rake) policies that really aren't favorable. This paper and thewealthofchips seeks to not only highlight the truth of this but also to present the extrapolation of a solution to this (and other!) problem(s). Again we talk about a poker currency that might emerge, but also allude to the weaken powers of the industry status quo. People often site the AmayaStars monopoly at proof the players are content with an increasing effective rake, but it might be that such an observation is simple that of government sponsored (created) situation that is horrible unfavorable to the industry. [The Importance of Poker and the Freedom to Gamble in Society](https://thewealthofchips.wordpress.com/2014/11/14/the-importance-of-poker-and-the-freedom-to-gamble-in-society/) [Cooperative Poker: a Moral Extension](https://thewealthofchips.wordpress.com/2014/10/30/cooperative-poker-a-moral-extension/) Effective Rake from the players perspective is [difficult to define](https://thewealthofchips.wordpress.com/2014/12/06/the-problem-of-measuring-effective-rake/). But [the value of the implementation of such a definition and its standard towards that which is more and more ideal effective rake is not only quite tangible but also significant](https://thewealthofchips.wordpress.com/2014/10/29/the-intrinsic-value-of-effective-rake/) For the sites, from their perspective it is quite easy to define as deposits vs withdraws in various and more complex forms. But players are not at all privy to this information, and often have to sign non-disclosure agreements if they are. Here we have the concept of an international site which might arise. The islamic comment is about a currency that is free from usuary and explained in Ideal Money. But we might think of such a site as Seals with Clubs, or even just bitcoin as an emerging payment mechanism. As we see poker and technology evolve this standard becomes more and more available to the minds and foresight of the average player. We might then expect to see a greater demand for sites with more ideal rake policies that do not in effect raise effective rake to the unsuspecting masses. Nothing is guaranteed, but it might be that a site arise with a guaranteed effective rake, like a sliding rake vs profitably. The analogy here is clear, and the result here regardless of the way its spun is that the players lose their ability to secure their own game, and the sites clearly and simply give themselves the ability to print chips. (here I should have wrote "chips" instead of money, but when thinking about our global financial system, ideal money, and bitcoin "money" has a powerful and dramatic effect too!) At its fundamental level poker allows the "fair" transfer of wealth from the ignorant to the wise as explained in [Moral Poker](https://thewealthofchips.wordpress.com/2014/10/30/moral-poker/) It is sites and their policies that controls the profitability of the field, which is akin to being the money printers of our economy. The argument is often such polices as rake targeting are not the business of players as customers and that the players benefit most by have these policies remain out of the reach of the players wants. [A Relevant Overview of Mental Poker Implementations](https://thewealthofchips.wordpress.com/2015/09/21/a-relevant-overview-of-mental-poker-implementations/) [A Relevant History of Mental Poker](https://thewealthofchips.wordpress.com/2015/09/21/4022/) And so this standard might allow a comparable rake to spread throughout the entire industry. Here is the fun part. We compare the current Keynesianist practice of the centrally banked/controlled exchange of money to chips to Bolshevik Communism. We can see the dramatic effects of this line of thinking from a great decline of the game since black friday, which was an event orchestrated by the American government under the guise of protecting the players. http://pokerfuse.com/news/industry/27391-gpi-organizes-secret-summit-heads-online-poker/ There is also discussion on the topic [here](https://www.liquidpoker.net/poker-forum/1118579/all/Ideal_Poker:_the_Players_Revolution.html). Notes: [Overview of history of Gambling in the US](https://thewealthofchips.wordpress.com/2014/11/24/overview-of-history-of-gambling-in-the-us/) (Ideal Money is a proposal by John Nash for a global currency standard of ideal qualities as defined by Nash) [Ideal Money (fermat version)](http://fermatslibrary.com/s/ideal-money-and-asymptotically-ideal-money) PSFTFBICIADOJ is defined later but stands for Poker Stars, FullTilt, FBI, CIA, Department of Justice. I don't actually believe all these parties to be involved and hence the satirical nature but we should understand, Ideal Money is an old lecture (1995) and Ideal Poker comes from a time when bitcoin was just emerging. Bitcoin is relevant to Ideal Money because it is the first successful implementation of a currency not controlled by a central authority. Ideal Poker seeks to create a comparable poker system, and hence we can see the controversial nature of the idea (whether about money or poker!). Furthermore, it was in fact the FBI and Doj, that were responsible for the massive change (black friday) that seem to rob the players of their profitability and seemingly sustainable poker ecosystem, especially by ultimately cutting the Americans (and their political power) out of the global ecosystem. More on PSFTFBICIADOJ and black friday further into the paper. I chose to call "ev" the commodity here, but I guess it might have made more sense to say "chips". Not every sentence is coherent in its transformation but there is certainly enough coherence to prove some significant points. The relevant history of poker and cards can be found here: [A Brief History of Poker](https://thewealthofchips.wordpress.com/2014/05/26/a-brief-history-of-poker/) [Notes on Games and the History of cards](https://thewealthofchips.wordpress.com/2015/01/17/notes-on-games-and-the-history-of-cards/) [The History of Money and Playing Cards in “Canada”](https://thewealthofchips.wordpress.com/2015/05/06/the-history-of-money-and-playing-cards-in-canada/) Much of the history of poker can be found here: [From Colonial Lotteries to Satoshi Dice: The 4th and 5th Wave of Gambling is Upon Us](https://thewealthofchips.wordpress.com/2014/11/27/the-4th-wave/) and especially through links that lead to I Nelson Rose's studies on poker's history. There are also relevant studies in the context of law the I Nelson Rose dances around but also the 4th and 5th wave article talks alludes and links to. Ideal Poker was first proposed [here](http://forumserver.twoplustwo.com/29/news-views-gossip-sponsored-online-poker-report/ideal-poker-1353102/) There is also a specific point to made here in relation to the history of games that I have not yet attempted. Nick Szabo makes [a very special conjecture](http://szabo.best.vwh.net/kula.html) in relation to historical evolution of the economy in the kula ring. Basically he shows how money can evolve simply by a coincidence of wants. So there is some connection between the Geo-political circumstance of societies and the money that evolves as a result. If one spends some time studying [Anthony Pickles works](https://thewealthofchips.wordpress.com/2015/03/11/the-significance-of-anthony-pickles-on-the-arising-of-2-distinct-card-games-in-the-kula-ring-in-relation-to-nick-szabos-kula-ring-conjecture/) it can be shown nearly as a corollary to Szabo's conjecture that GAMES also arise as an extension of the Geo-political circumstances that is related to an economy. Pickles showed that in the Kula area two distinct cards games arose each reflect different basic solution habits of two distinct classes of citizens.

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