Would major sites like PokerStars ever stop using the dollar?

[Sam Stone]

[ QUOTE ]
peaks and troughs. Happens all the time with currecies and has since currency was invented.

What you expect poker sites to do? change to euros then Sterling then Aussie Dollars then...... every time there are movements in exchange rates.

[/ QUOTE ]

First off, I wasn't the OP, and don't really expect the poker sites to do anything one way or the other.

However, riddle me this: What was the base currency before the dollar? How long ago was the change? My guess is post-WWII.

My understanding is that the dollar's historical strength was based on its gold-backing...which no longer exists. We have a fiat currency, which is backed only by faith in the US government. Historically, that idea has not worked out so well.

So yeah, I would expect if a worst-case scenario (hyper-inflation) were to present itself, many businesses (poker sites included) would stop using the dollar. You don't see too many folks lining up to take Weimar or Zimbabwean currency.

You say peaks and troughs - others say historic lows and no end in sight.

Just sayin' [img]/images/graemlins/smile.gif[/img]

[Josem]

[ QUOTE ]
However, riddle me this: What was the base currency before the dollar?

[/ QUOTE ]
UK pound sterling.

Source: the article I linked above.

More info on this issue at http://en.wikipedia.org/wiki/Reserve_currency and http://en.wikipedia.org/wiki/World_currency

Much of the rest of your comments here would be corrected by reading the information that I have linked to here.

[MFM00]

For many years, 16th and 19th centuries, the pound sterling was the reserve currency. Also gold was a recognized standard, i.e. Spanish pices of eight.

[Rek]

[ QUOTE ]
So yeah, I would expect if a worst-case scenario (hyper-inflation) were to present itself, many businesses (poker sites included) would stop using the dollar.

[/ QUOTE ]

Yeah, I agree but the dollar is a million miles away from that scenario.

[Piers]

Since sites can about double their rake by switching to pounds, its got to be on thier wish list.

[Wintergedaerm]

My account in PArty is in Euro, while still being able to play in Dollar.
I like this.

[Rek]

[ QUOTE ]
Since sites can about double their rake by switching to pounds, its got to be on thier wish list.

[/ QUOTE ]

How do you work that out? If you continue with proper bankroll and you are bankrolled for $2/$4 then you should play £1/£2. Therefore same rake. Or am I missing something?

[ikestoys]

This thread is reminding me that I need to convert some of my holdings to euro...

[Apathy]

[ QUOTE ]
My account in PArty is in Euro, while still being able to play in Dollar.
I like this.

[/ QUOTE ]


dont you get owned on exchange rate every time you play or do they exchange the money with no vig?

Do you need a new account for this I could I just get mine switched to CDN$?

[Piers]

Say were given the option of paying UKP3 per pot in rake or USD3 per pot in rake, which would you choose?