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Bitcoin enters the hospitality industry

Following a recent surge of interest in the digital currency Bitcoin, the D Las Vegas Casino Hotel and the Golden Gate Hotel & Casino in downtown Las Vegas are accepting payment in Bitcoin. The cryptocurrency is accepted at both hotels' front desks, the D gift shops, and two restaurants. The Bitcoin came into existence in 2009, allowing users to send payments by broadcasting digitally signed messages to the network.However, this ease of payment could come at a price, as the value of bitcoins have fluctuated anywhere from $0.30 to $266, known to have massive spikes and crashes as well, having rose from about $0.30 to $32 in one day, or crashing from $266 to $50 on another day.For Derek Stevens, co-owner of the D and Golden Gate hotels, accepting bitcoin payments seems to make sense; it had been previously suggested by clientele. "We're located in the growing high-tech sector of downtown Las Vegas, and like all things downtown, we're quickly adaptive to new technology", he says. Stevens remains unsure about the initial usage of Bitcoin for payment, but is confident that it will grow in popularity.Even though Stevens is willing to gamble with his ADR, he is less willing on the casino floor, where bitcoin will not be accepted. Perhaps this shows a reluctance to let the erratic currency effect revenues too much.


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