Earlier this week, multi-billionaire, television personality, and owner of the Dallas Mavericks, Mark Cuban, announced that the NBA team would be accepting Bitcoin
as a method of payment during the 2018 - 2019 basketball season.
(e) The Treasurer shall collect and receive all monies due or belonging to the Club; monies shall be deposited in a bank approved by the Board, in the name
of the Club; the books shall at all times be open to inspection
of the Board; at the annual meeting, there shall be a written and verbal account
of all monies received and expended
during the previous fiscal year including every item
of receipt or
payment not before reported; condition
of the Club's finances shall be published quarterly in the newsletter; more frequent reports may be made to members
of the Board by mail or other approved
method of communication; send dues notices; maintain membership list; update Corresponding Secretary annually
of members in good standing; the Board
of Directors shall appoint a committee
of three members (excluding the Treasurer) to audit the books annually, with the Treasurer available to answer questions; in case
of resignation
of the Treasurer
during the year the books will be audited in the same manner; the Treasurer shall be bonded in such amount
as the Board
of Directors shall determine; and carry out such other duties
as are prescribed in these by - laws.
Contrary to what we learned by observing the chatter between criminals
during the past several weeks, Bitcoin remains the gold standard in the dark web, with all vendors accepting it
as a
payment, and Litecoin emerged
as the second most popular currency, with 30 percent
of all vendors who implemented alternative
payment methods willing to accept it.
By using bitcoin, players lessen the risk
of fraud through keeping their anonymity
as no details are shared
during transactions, which is the case for credit cards and other more traditional digital
payment methods.