I did. To me the main case for bitcoin is simple. It’s much easier to move money with it. I like and use Skrill. When I withdraw from it to a bank account, I wait 3 business days and lose about $40 in bank fees. My bank lets me wire internationally. It takes about 4 business days, usually with at least $50 in fees spread between me and the recipient. People will often pay a vig greater than 5% to turn online money into cash in Vegas during the WSOP. Western Union charges up to a 15% vig for moving money, requires time from both parties, and collects over $10M a day in revenue from this. Enter bitcoin. You are your own bank. You can pay anyone in the world almost immediately, for almost no fee. I could send the equivalent of millions of dollars to someone in Africa -- as long as they have internet access -- on a Sunday night for a fee of pennies. Nobody has to approve … [Read More...]
Collin Moshman graduated from Caltech in 2003 with a degree in theoretical math prior to becoming a professional online sit 'n go player. He is the author of best-selling poker strategy books Sit 'n Go Strategy,
Heads-Up No-Limit Hold 'em, and The Math of Hold'em. Collin is also the lead SNG coach for Cardrunners and Pokerstrategy. He lives in Mexico with his wife Katie and dog Wilbur, playing on Pokerstars as tfnc314.