Definition of nosebleed
Nosebleed means, "nosebleed". What we mean by nosebleed is a limit in poker. You have micro-limits, small limits, mid-limits, high limits and higher than high limits, you have nosebleed. Nosebleed games are often played with blinds that are the size of a high-limit player's entire stack. There was a time on the Full Tilt Poker floor when there were tables that had blinds of $500/$1000. Those tables no longer exist, as the caliber of players has increased too much. The variance at these limits just gives you a "nosebleed" when it shows up.
The nosebleed, a show more than a school
The nosebleed online poker games were drawing crowds. Many players came to watch the nosebleed games. Most of the time, these were one-on-one games. Each player had very specific reads on their opponent. Every game was dictated by these reads. Many saw these games as a school to learn how to play better. If you duplicate the style of a nosebleed player at your friendly poker games, you may be surprised. At micro-limits, good old-fashioned ABC poker is still the key.