When in Atlanta, do what the bitcoiners do...

...and pay homage to/at the Bitcoin Bowl's proud owner, Bitpay!

The Case for Bitcoin at the World Series of Poker

Won't fit a suitcase, will fit a BTC wallet (photo: Joe Giron/WSOP)

Each year at this time, thousands of poker enthusiasts descend upon the Las Vegas Valley  to participate in the storied World Series of Poker (WSOP), often bringing with them untold sums of cash in order to participate. The buy-ins to these events scale up from the $500 Casino Employees Event to the uber-high roller $1,000,000 Big One for One Drop. Even just for the limitless cash games running alongside the WSOP, the cash on hand with players boggles the mind.

So it comes as little surprise that reports came on the first day of the Series that players at the Rio have had their hotel rooms robbed of cash and valuables. While hotel theft of valuables is an issue across the hospitality industry, the loss of large sums of cash can be directly avoided by poker players at the Series if the WSOP high command would do one, little thing...

Adopt bitcoin. 

Top 10 Reasons Why Bitcoin Is Magic Internet Money

Bitcoin believer or bitcoin hater? You are sure to recognize several of these popular arguments...

Sadly, the joke's on US

1. It's not backed by anything. It's "magic Internet money."

Quick question: What is the United States Dollar, currently the world's reserve currency, backed by? Answer: Nothing.

The USD hasn't been backed by the gold standard since the '70s.

Many like to point out that the dollar is backed by the full faith and credit of the United States government. You mean that same government with the ginormous deficit that shut itself down for no good reason last year?

Well, the US still has the greatest military force in the world. It's backed by that. And this is still true. But if you're depending upon the threat of physical violence to back up the concept of what currency actually is - just a more efficient way to barter/exchange things of value - then your concept is pretty weak.

The real secret behind money is that it's worth whatever we say it's worth. The value of anything is what two people in a transaction agree it to be. What makes bitcoin so special is that this value is being drastically re-evaluated every day in a more peer-to-peer way than we've seen in the central bank era.