06 Feb '13, 3pm

The New Underworld Currency: Online Gambling's Bitcoin Future via @dailydot

The New Underworld Currency: Online Gambling's Bitcoin Future via @dailydot

The open-sourced world of the Internet has brought us elaborate digital environments like Minecraft and a virtually never-ending encyclopedia in the form of Wikipedia . Could it soon be providing our money as well? In recent months, Bitcoin, a form of digital cash that has been around since 2009, has shown some impressive signs of growth as it strengthens against the dollar and fuels a resurgence in online gambling. Two online casinos that only accept Bitcoins have already drawn major traffic—and in one case, profit—during the past year. Meanwhile, a new site based in Canada is poised to bring online poker back to the U.S. in a big way after the Justice Department shut down three of the nation's biggest poker sites—and froze more than $100 million of players' money—in a 2011 federal crackdown on Internet gambling. The poker world refers to the event as “Black Friday.” “It ...

Full article: http://www.dailydot.com/business/bitcoin-online-gambling-...

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