The emergence of controversial virtual currency Bitcoin has given high-stakes American sports gamblers the chance to circumnavigate federal anti-betting laws and wager vast sums on major sporting events.
With full-scale betting on sports legal only in Nevada, options have been somewhat limited for those seeking a piece of the action during big games in both college and the pros.
Bitcoin is getting a lot of attention right now. But someone will eventually build a better virtual currency, says global risk strategist Ian Bremmer.
“I would be very surprised if Bitcoin is still around in 10 years,” said Bremmer, the founder and CEO of Eurasia Group, the world’s largest risk consulting firm. He thinks that bigger players will enter the field and improve upon Bitcoin’s weaknesses.
At Wall Street Journal are discussing why Bitcoin startups are beginning to raise sizable investment capital even as industry leaders warn that hackers are abusing the Internet virtual currency for profit.
An introduction to the mechanics of bitcoins and an overview of how transactions take place.
Bitcoin startups are beginning to raise sizable investment capital even as industry leaders warn that hackers are abusing the Internet virtual currency for profit.
In the past year, fledgling businesses Coinbase Inc., Coinsetter Inc. and CoinLab Inc. have raised millions of dollars collectively from prominent venture-capital firms and angel investors, adding credibility to a digital currency that isn’t backed by a central bank.