i would probally take the 15K
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Originally posted by NightFrostaSS
Obv i didn't read all those long posts and not going to but my question is to OP:Would you rather have 100k in your acc or black member status?
To look at this from another angle -
Black Member status - takes lots of work, time and effort
OR
100k in my poker account - no work, no effort and no time ??
I'll go for the easy 100k answer there - just PM me and I'll let you know where to deposit it lol
Originally posted by Fagin
Originally posted by NightFrostaSS
Obv i didn't read all those long posts and not going to but my question is to OP:Would you rather have 100k in your acc or black member status?
To look at this from another angle -
Black Member status - takes lots of work, time and effort
OR
100k in my poker account - no work, no effort and no time ??
I'll go for the easy 100k answer there - just PM me and I'll let you know where to deposit it lol
I don't care what would you take, i was asking OP of this thread
I think you are getting too fancy and philosophical in your thought process.
Let's go back to the definition of Expected Value/Expectation.
"In probability theory and statistics, the expected value (or expectation value, or mathematical expectation, or mean, or first moment) of a random variable is the integral of the random variable with respect to its probability measure."
Basically in poker, EV refers to the profit we should be getting in the long run and volume/rake generated is quite irrelevant in this case; volume only determines our sample size and larger sample sizes mean lower variance/getting closer to our theoretical expectation. And your quote from Keynes is taken too far out of context IMO, longrun can be reached in 100k-200k hands (at least for smaller stakes where edges are larger and we can observe the long-run results quickly)
In short: Volume might be a decent way of measuring your progress/dedication towards Poker, but definitely in no way is it any indicator of your EV.
Originally posted by NightFrostaSS
Originally posted by Fagin
Originally posted by NightFrostaSS
Obv i didn't read all those long posts and not going to but my question is to OP:Would you rather have 100k in your acc or black member status?
To look at this from another angle -
Black Member status - takes lots of work, time and effort
OR
100k in my poker account - no work, no effort and no time ??
I'll go for the easy 100k answer there - just PM me and I'll let you know where to deposit it lol
I don't care what would you take, i was asking OP of this thread
word
Originally posted by mbml
I think you are getting too fancy and philosophical in your thought process.Let's go back to the definition of Expected Value/Expectation.
"In probability theory and statistics, the expected value (or expectation value, or mathematical expectation, or mean, or first moment) of a random variable is the integral of the random variable with respect to its probability measure."
Basically in poker, EV refers to the profit we should be getting in the long run and volume/rake generated is quite irrelevant in this case; volume only determines our sample size and larger sample sizes mean lower variance/getting closer to our theoretical expectation. And your quote from Keynes is taken too far out of context IMO, longrun can be reached in 100k-200k hands (at least for smaller stakes where edges are larger and we can observe the long-run results quickly)
In short: Volume might be a decent way of measuring your progress/dedication towards Poker, but definitely in no way is it any indicator of your EV.
hi. "In short: Volume might be a decent way of measuring your progress/dedication towards Poker, but definitely in no way is it any indicator of your EV"
taken too far out of context? please advise how should it be interpreted?
"
In the long run, we're all dead
A quote attributed to John Maynard Keynes, as a catch phrase in his rebuttal to laissez faire economics, as proposed by Adam Smith. The idea is that rather than "in the long run, everything will even out", that "in the long run, we're all dead", so we should aggressively push to rectify economic problems (within our lifetimes), rather than just letting everything work itself out."
you are definitely missing out my fundamental ideas, may be i was too draggy, so i will try to keep it simple.
in a normalised thought process, volume is just a plain measure of how much work you have done.
but because i have the knowledge that i'm putting in optimal positive actions(which is subjective and can only take on arbitrary values), the greater volume henceforth mean that i'm getting greater Expected returns.
the nature of EV is only objective in plain idealistic form.
who's to say that watching 1hr of videos gives us more returns than reviewing 1 hour of hand histories? we can't even put them on the same scale. only a proxy is some form of measurement possible.
who's to say that 4bet shoving a fish is +EV as we expect the fish to fold X% of time, whereby X% is an arbitrary value(or range of values at best)? is the X value real enough?
the subjective characteristics of EV is such that it cannot be measured accurately, or even place a value on it.hence, the usage of volume.
where by volume x optimal positive action(what i think) = EV. more volume x actions that we think is optimally positive gives us greater EV returns.
like i said, returns is not a good indication. why?
when one consciously correlates one's returns to one's expected value(which is not observable), one starts to question one's ability when one encounters downswings. don't want to generalise, but i believe it is the case for myself
when are peole going to accept that the PT3 EV graphs are bugged/flawed?
srsly, it's pathetic
Originally posted by Kruppe
when are peole going to accept that the PT3 EV graphs are bugged/flawed?srsly, it's pathetic
it's well known fact
Originally posted by opal99
Originally posted by Kruppe
when are peole going to accept that the PT3 EV graphs are bugged/flawed?srsly, it's pathetic
it's well known fact
sry didnt really know as i dont use PT3. anyway i did a disclaimer "LOUSY EXAMPLE" lol! 
Originally posted by ihufa
the blacks collect diamonds no?
LOL, even though that's a terrible joke. I couldn't help but laugh 
Originally posted by supeyrio
Originally posted by silent21
Originally posted by supeyrio
how much rake one gross("blackmember measure"), effectively determines how much one plays. and my concept is that the more i play, the more successful or the more positive my net worth becomes.
i can accept that you do not agree with my view point as it's radical enough although i hope that my reasoning was adequately comprehendible
your reasoning was very bad. the biggest winners in poker are high stakes players with huge winrates. these players often produce less rake than lowstakes rakeback pros
raking a lot doesn't imply any kind of success. there are players who play millions of hands a year and only make a couple of k per month.
Originally posted by Kruppe
Originally posted by supeyrio
Originally posted by silent21
Originally posted by supeyrio
how much rake one gross("blackmember measure"), effectively determines how much one plays. and my concept is that the more i play, the more successful or the more positive my net worth becomes.
i can accept that you do not agree with my view point as it's radical enough although i hope that my reasoning was adequately comprehendible
your reasoning was very bad. the biggest winners in poker are high stakes players with huge winrates. these players often produce less rake than lowstakes rakeback pros
raking a lot doesn't imply any kind of success. there are players who play millions of hands a year and only make a couple of k per month.
argh, feel tired repeating.. read my posts for further explaination.
something along the lines of its an estimation that doesnt work for everyone! e.g. i'm not a highstakes player.
e.g. gus hansen has been in the red online, does this mean he is really a bad online player or its a swing?
conceptually, if these highstakes player could have played more tables, they would have, like how tom dwan would like it.
I am sure to get bm in the next 70 years and then I can really party with the other blackmembers ♦