Would major sites like PokerStars ever stop using the dollar?

[Josem]

the primary reason that the US dollar is commonly used is that it is commonly used.

much like a telephone network, there's no value in having the thing if you're the only person who uses it. you need people to exchange with.

the idea that "fiat currencies" have "not worked out so well" seems to be a denial of economic growth in the 20th and 21st centuries. that is self-evidently false.



poker sites use the $US because it is known and broadly accepted by their customers. if customers want to use other currencies for their balance, they can (eg, party) and if customers want to use other currencies for play, they can (eg, crypto).

of course, in a free market, the dominant player will not always be dominant. that seems a bit obvious to me.

[Sam Stone]

About that 15% market gain - bearing in mind that the Dow is priced in dollars, go to the link Phill posted: http://news.bbc.co.uk/1/hi/business/7069087.stm

and whip out a calculator.

Versus the pound, the dollar has lost some value this year... by my figures, about, oh,...16%.

Ooops.

[Sam Stone]

[ QUOTE ]


the idea that "fiat currencies" have "not worked out so well" seems to be a denial of economic growth in the 20th and 21st centuries. that is self-evidently false.



[/ QUOTE ]

You seem to be assuming that the story has finished. I think it may just be getting to the interesting parts.

[6471849653]

I just wonder what it would cost them to get an EU license, as they are so close anyway. Now the people in the EU need to pay taxes from the poker winnings, while if they would get the correct license (EU) there would be no lose to the US players as they are paying taxes anyway. I don't like PS too much because of that, not to mention they are rigged and rather tight though that has never bothered me as for some reason the players (the US players perhaps) are so predictable or/and easy to feel.

Adding euro tables would also be rather easy but it seems they are too poor for that too. Great software however, and the cards come out of the deck basically normally, till it gets rigged (then mainly the fish will start to get extra luck). Very different from e.g. FullTilt (that's also rigged), like form an another planet in about every way.

[fatshaft]

[ QUOTE ]
I just wonder what it would cost them to get an EU license, as they are so close anyway. Now the people in the EU need to pay taxes from the poker winnings, while if they would get the correct license (EU) there would be no lose to the US players as they are paying taxes anyway. I don't like PS too much because of that, not to mention they are rigged and rather tight though that has never bothered me as for some reason the players (the US players perhaps) are so predictable or/and easy to feel.

Adding euro tables would also be rather easy but it seems they are too poor for that too. Great software however, and the cards come out of the deck basically normally, till it gets rigged (then mainly the fish will start to get extra luck). Very different from e.g. FullTilt (that's also rigged), like form an another planet in about every way.

[/ QUOTE ]<sigh>

[Tappy Tibbons]

[ QUOTE ]
Party should go to Euros. European player base and it's the defacto world currency now.

[/ QUOTE ]

I vote for flooz

[Guthrie]

Poker sites should be denominated in fractional ounces of gold.

Problem solved.

Except for those who prefer grams, of course.

[The 13th 4postle]

1.)Euro is a great currency and I have nothing against, but I think it is slightly overvalued.

2.) Same thing with the pound. Not a coincidence that all things in Europe are getting more and more expensive.

3.) Dollar is so cheap now and is still used primarily in the Americas that it is extremely undervalued now and when the U.S gets a better president (Bush is bad from either Republican or Democratic viewpoint) that the U.S dollar will return to its former rate.

4.)List of presidential candidates I think would help U.S dollar

Mitt Romney
John McCain
Ron Paul
Mike Huckabee
Hillary Clinton
Joe Biden
Barrack Obama

P.S even though Canadian dollar is higher now they sitll have to pay more for same products...lol

[kielbax]

I changed my account currency at Party from $ to £ today and can confirm they exchange money from account currency to game currency with no vig.

Interesting thing is that the rate used to convert my balance to a new currency was better than the rate used to cash out.
You can check the deposit/cash out rates clicking on
Cashier->Cash Out and for example Wire Transfer.
Today they are 1 USD = 0.4682 GBP 1 GBP = 2.0095 USD .

Now if you go to My Account->Your Profile->Currency Converter the rates are
1.00 USD = 0.48 GBP 1.00 GBP = 2.07 USD.
And these are used to convert money from account currency to game currency and also when converting your balance to your new currency when you decide to change your account currency.

Only one change of account currency is allowed.

[jukofyork]

[ QUOTE ]
I changed my account currency at Party from $ to £ today and can confirm they exchange money from account currency to game currency with no vig.

Interesting thing is that the rate used to convert my balance to a new currency was better than the rate used to cash out.
You can check the deposit/cash out rates clicking on
Cashier->Cash Out and for example Wire Transfer.
Today they are 1 USD = 0.4682 GBP 1 GBP = 2.0095 USD .

Now if you go to My Account->Your Profile->Currency Converter the rates are
1.00 USD = 0.48 GBP 1.00 GBP = 2.07 USD.
And these are used to convert money from account currency to game currency and also when converting your balance to your new currency when you decide to change your account currency.

Only one change of account currency is allowed.

[/ QUOTE ]
Can anybody confirm that their is also no vig for tourney entry/prize amounts too?

Juk [img]/images/graemlins/smile.gif[/img]