Wednesday November 22, 2017 at 6:43 pm
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Cryptocurrencies are all the rage right now. Bitcoin passed the $8K barrier and if you're an avid follower of the poker community on social media, then you know many well-known pros went all-in on various cryptocurrencies. A couple of online poker rooms supported by cryptocurrencies have popped up. Virtue Poker, a new site with a launch date for the tail end of 2018, added Phil Ivey as an advisor.

IveyCrypto1

Welcome to the beginning of the crypto poker wars! Virtue Poker is a new start-up in the poker world, which is a decentralized P2P poker platform built on Ethereum. Set to debut sometime in 2018, Virtue Poker will utilize blockchain technology developed for Ethereum to create an online poker room. Virtue Poker tapped Brian Rast and Dan Colman as its ambassadors. And just last week, Virtue Poker announced they added Phil Ivey to their team as a consultant.

In a press release, Ivey said, "I'm looking forward to serving as a strategic adviser to the Virtue Poker team. I believe their new peer-to-peer solution built using blockchain technology can add significant value to the online poker experience."

Virtue Poker's co-founder, Ryan Gittleson explained, "The lack of transparency and accountability in the practices of many online poker companies presents a great opportunity for blockchain technology to showcase its utility in a manner that will satisfy both players and regulators."

According to Virtue Poker's FAQs, "Virtue Poker will not store any player funds. Instead, users will fund a wallet that will always be under their control. In order to join games on the platform, users will send their buy-in to a table contract which will escrow all participants buy-ins, and will autonomously payout players based on game outcomes, directly back into their digital wallet. The funds under escrow will be controlled the blockchain contract, and not by Virtue Poker or any other single entity."

Fiat money. Benjamins. Greenbacks. Moolah. Loot. Cashola. Whatever you call paper money, it's been a central governing figure in all of our lives. We love to hate it, because let's be honest… the pursuit of money is what inspires us and destroys us. And in the poker world, taking a shot at the poker tables has been a lucrative means to accumulate wealth in a very short amount of time. However, we've all learned the hard way that paper money and currencies pegged to a specific nation fluctuate based upon numerous factors, mostly inflation, interest rates, natural disasters, wars, and the economic strength of said country. The exchange rate for the Euro to US Dollar and the Pound to US Dollar have risen considerably over the last year, after the Euro and Pound plunged in the wake of the Brexit vote.

Welcome to the future of currency… cryptocurrency. As humanity takes steps towards a cashless society, the race is on to determine which crypto will become the dominant virtual currency. After all, virtual money is not pegged to a specific country.

The poker community has been on the ball with cryptocurrencies since the inception of Bitcoin a couple of years ago. Seems like BTC and Ethereum was all anyone was talking about on Twitter all summer long during the WSOP. Since then numerous clones and crypto options have popped up such as Bitcoin Cash, Ripple, Litecoin, etc.

Satoshi Nakamoto, the so-called inventor of Bitcoin, initially created it as a peer-to-peer electronic cash system that was decentralized without a specific server or central authority. The system was set up to prevent double transactions (and fraud). Technically, it has no intrinsic value, nor can it be traded for anything physical. Its supply is not controlled by a central bank or governing authority.

Previous attempts at setting of digital cash systems in the late 20th Century failed. But Satoshi worked out a reliable system, which he called Bitcoin. Everyone on the system, which consists of a network of peers, has access to the "ledger" and knows the history of every single transaction. Simply put, it's a basic p2p-technology in which transactions are verified by the community.

The future is now. And the poker community is once again ahead of the curve when it comes to innovative technology. Crypto poker has arrived.

Latest news
Monday July 16, 2018 at 2:28 pm
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2018 WSOP: Joe Cada wins fourth bracelet with win in The Closer

A couple days after his exit at the Main Event final table, Joe Cada shipped The Closer for his second bracelet this summer and his fourth overall. Event #75 was the last $1,500 NL event on the schedule and this special blowout had 30-minute levels. Joe Cada faded a field of 3,210 runners to win $612,886. Cada banked nearly $3 million at the 2018 WSOP.

Monday July 16, 2018 at 8:20 am
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2018 WSOP: Ben Yu wins $50K High Roller and third bracelet

Ben Yu outlasted a star-studded final table to win Event #77 $50,000 NL High Roller (Big Blind Ante). Yu survived a field of 122 runners to win his third bracelet. First place paid out $1.65 million.Yu cashed in 15 events this year and moved into second place overall in the Player of the Year race. Yu pulled off an extremely a rare feat by finishing in first place, second place, third place, and fourth place in the same series.

Sunday July 15, 2018 at 2:10 pm
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2018 WSOP: John Cynn wins Main Event for $8.8 million

Say hello to the newest world champion, John Cynn! Cynn won his first-ever bracelet with a victory in Event #65 $10,000 Main Event Championship. Cynn faded a field of 7,874 runners, which is the second-biggest field in WSOP Main Event history. Cynn outlasted a final table that included 2009 WSOP Main Event Champ Joe Cada, who busted in fifth place. Cynn rallied from behind to win a marathon heads-up affair against Tony Miles. Their ten-hour, 199-hand heads-up bout was the longest ever recorded in WSOP history. For a consolation prize, Miles banked $5 million for second place. Cynn won $8.8 million for first, plus the coveted special bracelet.

Saturday July 14, 2018 at 5:06 pm
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2018 WSOP: Shaun Deeb wins 4th bracelet, back to first in POY

Shaun Deeb became the first player this year to win two bracelets at the 2018 WSOP. Deeb picked up his second bracelet of the summer and his fourth overall with a victory in Event #74 Big Blind Ante $10,000 NL 6-Handed. Deeb banked $814K for the win. He regained the top spot in WSOP Player of the Year standings, while former frontrunner Johnny World Hennigan slipped to second place.

Saturday July 14, 2018 at 3:01 pm
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2018 WSOP Main Event: Tony Miles takes huge lead with 3 to go; Joe Cada 5th place

Day 9 of the WSOP Main Event saw the final table lose a trip of players as the field thinned from six to three. 2009 Main Event champ Joe Cada missed his shot at winning another World Championship when he busted in fifth place. Aram Zobian was knocked out in sixth place, and Nicolas Manion hit the rail in fourth place. With three remaining, Tony Miles sits atop a gigantic lead with 60% of the chips in play a stack worth a shade under 239M. John Cynn is in second with 128.7M. Mike Dyer is the shorty with 26.2M. They will crown a champion on Saturday night.

Friday July 13, 2018 at 5:14 pm
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2018 WSOP Main Event: Mike Dyer leads final 6

The 2018 WSOP Main Event final table started on Thursday evening and played down to six players. Antoine Labat from France busted first in ninth place, followed by Artem Metalidi in 8th place, and Alex Lynskey in 7th place. At the end of Day 8, Mike Dyer bagged the lead and held more than twice as much as Nicolas Manion in second place. Joe Cada is somewhat short and fifth overall. John Cynn, Tony Miles, and Aram Zobian are all still left in the hunt for $8.8 million.

Thursday July 12, 2018 at 6:14 pm
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2018 WSOP: Phil Hellmuth wins $5K NL for bracelet # 15

Phil Hellmuth won Event #71 $5,000 NL (30-minute levels). This two-day affair included expedited blinds. While all eyes were focused on the Main Event playing down to its final table, Hellmuth's event and final table flew under the radar. That is, until he got heads-up against two-time bracelet winner Steve Wolansky. Alas, Wolansky busted in second place and Hellmuth went on to win his 15th career bracelet.

Thursday July 12, 2018 at 8:20 am
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Phil Hellmuth wins bracelet #15

While all eyes were focused on the Main Event, Phil Hellmuth's final table appearance in Event #71 $5,000 NL (30-minute Levels) flew under the radar. Phil Hellmuth defeated Steven Wolansky heads-up for the win. That victory marked a total of 15 WSOP bracelets for Hellmuth, who padded his all-time lead. Hellmuth banked $485,082 for first place. Stay tuned for our full recap of Hellmuth's final table.

Thursday July 12, 2018 at 8:00 am
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2018 WSOP: Nicolas Manion leads final table; 2009 Champ Joe Cada still alive

The 2018 WSOP Main Event reached its final table. Day 7 started with 26 players and they played down to nine. 2009 Main Event Champion Joe Cada is seeking his fourth bracelet and second world championship. Nicolas Manion is the big stack with 112.7M. The final table also includes Mike Dyer, Tony Miles, John Cynn, Alex Lynskey, Aram Zobian, Artem Metalidi, and Antoine Labat.

Wednesday July 11, 2018 at 1:58 pm
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2018 WSOP: Aram Zobian leads final 27

After six days of action in the Main Event, only 27 players remain. Aram Zobian is the chip leader with 41.5M. 2009 Champ Joe Cada is still alive, but with a short stack. Benjamin Pollak, who finished in third place last year, had a quest to make back-to-back final tables. But his remarkable journey ended when he busted in 42nd place. Kelly Minkin, the last woman standing, busted in 50th place.

Tuesday July 10, 2018 at 5:47 pm
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2018 WSOP: Mike Dyer leads final 109 players

And then there were 109 players remaining. Approximately two-thirds of the field busted on Day 5 of the 2018 WSOP Main Event. They started with 310 and play was suspended with 109 players remaining after a wild storm created a power outage at the Rio's Convention Center. With the lights out, Mike Dyer bagged up the big stack worth over 12.1M.

Sunday July 8, 2018 at 4:47 pm
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2018 WSOP: Bubble time in the Main Event

Well, that was fast. The 2018 WSOP Main Event is now in the money. The money bubble burst on Saturday night and action was suspended with all 1,182 remaining players currently in the money. The lucky 1,182 will win at least $15,000 for a min-cash. In Sun Geoum from New York City is the big stack with nearly 1.7 million. Phil Ivey has a healthy stack and sits in the Top 75 in chips.

Friday July 6, 2018 at 3:25 pm
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2018 WSOP: Shawn Daniels chip leader after Main Event Day 2A/B

The first part of Day 2 of the Main Event continued at the Rio Casino in Las Vegas. Only 2,460 players started Day 2A/2B and only approximately 1,235 players will be moving onto Day 3 from the A/B flights. Shawn Daniels bagged up the chip lead with 532,500. Former Main Event champs Johnny Chan, Jesus Ferguson, Scotty Nguyen, and Greg Merson survived the cut and advanced to Day 3.

Thursday July 5, 2018 at 5:57 pm
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2018 WSOP: Main Event 2nd largest in history; $8.8M to first

Registration for the 2018 WSOP Main Event is officially closed. After the third opening flight of action, the official total is 7,874 players. That marked the second-largest in WSOP history. First place will win $8.8 million and everyone at the final table will win at least $1 million. The total prize pool is $74 million. Currently, only 5,940 players are alive in the Main Event out of 7,874 runners.

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