Bitcoins are a digital currency created in 2001 by Satoshi Nakamoto. It is based on open source software and P2P networks with no central authority or issuers. The coins are saved on your computer in a wallet file or in a third party wallet. They can be exchanged between anyone with a Bitcoins address. The database of transactions is spread across a peer to peer network. They also use digital signatures to ensure they are only spent once and by the person who owns them.
12/20: Mike Weeks, who made the documentary Drawing Dead, joins us to answer questions about his film regarding online poker. [Visit Website] [Download MP3].
To that end, this article’s intent is to make it easier for people who find themselves in a similar circumstance. If you want to order food with your PayPal balance, it can be done!
Finally, this is going to be the real test of bitcoin. Can people easily trade them back and forth? If this can’t happen, then there can’t really be a bitcoin economy because retailers won’t be able to use it. If retailers can’t use it, what earthly good is it? Fortunately, this is not really a problem. iPhone is a bit of a hold out, but many smartphones have apps (mobile wallets) that will read QR codes and allow you to send bitcoin to whomever you want. You can also display a QR code of your address, or even carry a card in your wallet with your QR code to let people send bitcoin to you. Depending on what kind of wallet you have, you can then check to see if the here have been received.
12/12: This week on The Mental Game of Poker radio show I’m joined by Zach Elwood, author of “Reading Poker Tells.” This is the first time that I’ve talked extensively about tells on the show. We discuss some of Zach’s methods for deciphering tells from random information and how to get a handle on your own tells. Surprise surprise, there is often a mental connection to them. [Visit Website] [Download MP3].
More exhaustive searching finally resulted in some success. We did find a place that would order us an e-giftcard for any 3 of the national pizza chains with our PayPal funds – but it was really hard to find!
At this very moment, all over the globe, approximately 85% of non cash funds are being converted to digital money…the days of World Paper Money are numbered and…there is nothing that you or I can do about it. It is the wheels of progress at work. Take it or…