In North America, blackjack is almost always the game that dealers learn first, as it is simple and popular, and when the dealer makes errors, they tend not to cost the casino much money. A croupier or dealer is someone appointed at a gambling table to assist in the conduct of the game, especially in the distribution of bets and payouts. Originally a “croupier” meant one who stood behind a gambler, with extra reserves of cash to back him up during a gambling session. If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production. Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine. It’s based on open market competition, and there will probably always be nodes willing to process transactions for free.
Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free. If you’re having trouble with the inflation issue, it’s easy to tweak it for transaction fees instead. It’s as simple as this: let the output value from any transaction be 1 cent less than the input value. By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. In Europe, croupiers tend to learn roulette first. American, Australian, Canadian and British croupiers are required to apply for a gambling license. This license includes police background checks and credit rating checks, to help determine if they are eligible to commence employment. Croupiers are not permitted to deal at a casino until being issued this license. Fraternising with customers is frowned upon, and most casinos prevent their gambling staff from being seen smoking or even being seen in uniform outside the casino.
Tips are often pooled and divided amongst all the staff. As is common with customer service staff in the United States, croupiers there depend on tips to make their wage worthwhile. If it does not increase as fast as demand, there will be deflation and early holders of money will see its value increase. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases. To Sepp’s question, indeed there is nobody to act as central bank or federal reserve to adjust the money supply as the population of users grows. But don’t worry, there are another 6 decimal places that aren’t shown, for a total of 8 decimal places internally. Croupiers are typically employed by casinos. A health hazard evaluation of several Las Vegas casinos showed that nonsmoker croupiers suffered from more respiratory ailments than their administrative counterparts at the casinos, and had cotinine and NNAL (both components of secondhand smoke) in their urine samples.
If the price is above cost, profit can be made by generating and selling more. If the price is below cost, then production slows down. The marginal cost of gold mining tends to stay near the price of gold. It’s the same situation as gold and gold mining. I think the case will be the same for Bitcoin. Select colleges and non-collegiate third-level educational institutions now offer croupier training courses, formally dubbed Casino Operations Training, which when put in a historical context is a milestone achievement for the legitimization of poker in the mainstream. Besides courses, there’s a host of private lessons available on social media, poker forums and classifieds sections worldwide, which could serve even better than attending an official course, giving one-on-one apprentice-master attention. However, sometimes it serves better to get a “general qualification” than to be trained exclusively into one company’s way of operating. The word derived from croupe (the rump of a horse) and was by way of analogy to one who rode behind on horseback. In Canada, this position is also known as a dealer and in addition to gaming experience requires excellent soft skills to interact with the visitors and sell them the idea of visiting the gaming establishment one more time to play again.
