The D and Golden Gate To Accept Bitcoin
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After a few days of teasing, The D and Golden Gate announced today that it will begin accepting the virtual currency bitcoin for payment at both hotel front desks and American Coney, Joe Vicari's Andiamo Italian Steakhouse and the gift shop at The D.
So how does it work? Each bitcoin user has a cryptographic key that is unique to their holding of bitcoin, these are stored on a decentralized network of computers called mines. When you purchase something, you scan a QR code or enter in the key of the vendor using a mobile device and send them whatever amount of bitcoin is owed. That unit of bitcoin (Satoshis, named after the architect of bitcoin) is transferred and assigned to their key in the mine ledgers. No cash, no credit, no cards... just bitcoin on the barrelhead. Bitcoins are not yet accepted at gaming tables or slot machines.
1 bitcoin currently sells for $963USD on Japanese-based bitcoin exchange Mt. Gox.
This is an historic moment in the history of bitcoin and the evolution of Las Vegas.
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