Bitcoin Virtual Currency Newest Online Poker Payment Option

Published Sunday, December 02, 2012 -

Following something as futuristic as the virtual currency called Bitcoin seems sort of off the wall and kind of silly. First of all, this virtual currency has value, real money value, once you find a trader to convert them to dollars pounds or euro if you want to bother. Looking at some of the traditional currencies on today’s money market things can be a little dicey especially in Europe. The currency is gaining traction with online gambling operators and poker rooms around the world.

One example of a successful offering in the online poker world is Switch Poker which started giving patrons the option of Bitcoin currency about a year ago. The poker room has stepped it up a notch and will be offering a Bitcoin only sector. This move is in response to those players who are devotees of the virtual currency who wanted to be able to leave there accounts in Bitcoin money to play.

Online gaming sites are not the only business converting to the optional currency. Recently the popular WordPress online publishing service announced it would begin accepting Bitcoin as payment for various upgrades. Andy Skelton a spokesperson for WordPress said, “PayPal alone blocks access from over 60 countries and many credit card companies have similar restrictions … “

The idea that BItcoins are safer because they are not connected to the gold standard currency world is disputed by some who think that Bitcoin is destined to fail. Another online poker operator Infiniti Poker a new start up on the web uses Bitcoin to offer US players a way to get paid. Michael Hajduk Infiniti Poker founder said while speaking to PokerFuse “In the worst case scenario, if [the US Department of Justice] seize our domain name your Bitcoins will be safe because there’s no central authority controlling the currency.” The virtual world needs its own money and the Bitcoin seems to be fitting in nicely.

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