Quoted: on ‘nerds’ and Bitcoins and gambling

“There’s no bank of any sort that we do. We only do this one weird brand-new Internet protocol transaction that some of the nerds out there are calling money.”

Bryan Micon, spokesperson for SealsWithClubs.eu, a Bitcoin-based poker site. An NPR article poses the hard-to-answer question about whether gambling with Bitcoin is illegal. After all, “there is no Bitcoin company, there’s no Bitcoin building that regulators can get their hands on. It’s basically cash,” says Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University. Bitcoins, a decentralized virtual currency that can be converted to cash, are used to pay for many things online and is coming in quite handy for online gambling. The most recent value of a Bitcoin as of this post, according to Bitcoin exchange Mt. Gox: $21.24.


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