Ethereum-based Virtue Poker Gets Malta Clearance

Written by:
Ace King
Published on:

Ethereum-based startup Virtue Poker plans to conduct an initial DEX offering (IDO). While these types of announcements typically get lost in the crypto waste dump - often where they belong - this one has a little more punch.


What's Different About Virtue Poker?

  • While we can't say with absolute certainty this won't be another dud, Virtue Poker does have some solid backing behind it.
  • Blockchain developer ConsenSys is behind the poker site with Pantera Capital and DFG Group as the backers.
  • Virtue Poker claims to be the only blockchain-based company to be licensed by the Malta's gambling regulator.
  • Poker icon Phil Ivey is supportive of the project.
  • "I've been working with the Virtue Poker team for nearly three years, watching them build a next-generation poker platform," poker pro Phil Ivey said.
  • We would be remiss in pointing out that Ivey's been involved in legal quagmires in recent years over allegations of card counting, and there are those who might not be entirely comfortable with his endorsement.  
  • The platform anticipates smart contracts and sidechain infrastructure will deliver greater transparency to online gambling, including for withdrawals.
  • According to ConsenSys founder Joe Lubin, Virtue Poker “legitimizes the use of this technology in the industry.”

What is Blockchain?

In its simplest definition, blockchain is a string of connected blocks containing data that are linked together in a chain. Thus, the term blockchain. Bitcoin blocks are made up of transactions and each transaction receives a time stamp identifying the time at which it occurred.

What is Ethereum?

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform and it is widely considered the second-largest cryptocurrency by market capitalization, after Bitcoin.

Can I Register With Virtue Poker From Where I live?

You can.  The default registration information that pops up is Phil Ivey's with a Brooklyn, New York street address. It's probably not his, but we'd be curious who really lives here.

In the cryptocurrency gaming space, a physical address is simply not necessary.  Theoretically, you would be moving funds to and from your digital wallet, which is located in outerspace somewhere. 

- Ace King, Gambling911.com

Business/Financial News

Fake News: Litecoin Foundation Says No Deal With Walmart

Walmart had earlier disputed the claims after a number of outlets reported on the fake story.

Bitcoin is Barter, Not Money, Mexico Central Bank Chief Says

Bitcoin is Barter, Not Money, Mexico Central Bank Chief Says

Bitcoin is more like a means of barter than "evolved" fiat money, Mexico's central back chief said on Thursday, calling it a high-risk investment and a poor store of value.

El Salvador's World-First Adoption of Bitcoin Endures Bumpy First Day

El Salvador's World-First Adoption of Bitcoin Endures Bumpy First Day

El Salvador's historic adoption of bitcoin as legal tender on Tuesday was beset by teething problems, as an angry protest by mistrustful citizens, technological glitches and a dip in the cryptocurrency clouded the rollout.

9 Weeks Free Pay Per Head

9 Weeks Free Pay Per Head

There is plenty more to get excited about ahead of this NFL season if you are a bookie or agent looking for a new Pay Per Head or to switch over your players from your current platform (in under an hour).

Bitcoin Fever Reaches Honduras With First Crypto ATM

Bitcoin Fever Reaches Honduras With First Crypto ATM

The first cryptocurrency ATM in Honduras opened this week as Bitcoin backers sought to spur demand for virtual assets after neighbouring El Salvador became the first country to establish bitcoin as legal tender.