I've been rather skeptical of virtual currencies because of all the problems that come with it. Infinite production, infinite inflation, no government regulation... on and on. But the benefits are equally impressive. The hassle of dealing with PayPal disputes, credit card chargebacks, Bank chargebacks, etc. Not worrying about PayPal investigations going your way when you were scammed. So my friend tells me about one virtual currency that actually is well maintained and regulated.

Most poker website currencies have also been used for trading but there's a number of issues. US government is constantly messing around with shutting down poker websites which makes it extremely risky to hold a large amount.

So let's take a look at Bitcoin:
Source: Bitcoin Wiki

"Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. Bitcoin has no central authority or issuer. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses digital signatures and proof-of-work to provide basic security functions, such as ensuring that bitcoins can only be spent by the person who owns them, and never more than once."

My comments: Basically from what I heard this is almost unhackable. Each currency has its own digital code. I'm not a very a technical person, but I heard that your currency is linked to your account number which is linked to your hard drive. If your hard drive dies, you lose your currency permanently. If you're hacked, there's nothing to recover. Currency value has risen from worthless to about $8.50/coin on 3rd party Bitcoin Stock exchanges.

There are people playing poker with this bitcoin....

Imagine Middlemaning with this bitcoin....

Could be a good investment... and I will be doing more research on this.

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