Cafe and clothes stores get virtual cash machines

Marwood Cafe in Brighton has a new Bitcoin machine. Pictured is Graham Lally, right, who runs a Bitcoin group in Brighton chatting to Dan Jellinek, left.

Marwood Cafe in Brighton has a new Bitcoin machine. Pictured is Graham Lally, right, who runs a Bitcoin group in Brighton chatting to Dan Jellinek, left.

First published in News by , Business editor

Cryptocurrency has taken a major jump forward with the launch of two bitcoin ATMs in as many days.

Brighton and Hove is one of a handful of places in the UK to host machines which allow the exchange of physical and online currency.

Two new ATMs vied to be the first in the city, will launch at Marwood cafe on Ship Street on Thursday and at Flawless Clothing on Kensington Gardens on Saturday.

Bitcoin is a rapidly growing digital currency and payment system, which allows users to complete transactions without the need for a central bank.

The increasing rate of adoption has promoted companies such as Dell and CeX to accept it. Meanwhile Chancellor George Osborne pledged to examine how bitcoin could help Britain become the “global centre of financial innovation”.

Flawless Clothing, which also has a printer service, has been accepting the currency in-store since late 2013.

It has now teamed up with ATM specialist Satoshipoint to install a new lamassu machine which went live on Saturday.

The ATM allows users to trade cash for bitcoin instantly, bypassing the usual waiting period.

Flawless director Scott Marshall said: “We hope that this new addition to our store will help to increase public awareness of Bitcoin and other cryptocurrencies, as well as offering a useful service to the dedicated local community.”

Meanwhile Futurecoins, which installed the UK’s first ATM in Shoreditch before The Marwood, chose Brighton on the strength of its thriving bitcoin and social enterprise scene.

Joel Raziel, Futurecoins founder, said: “There is such a strong counter-culture scene in Brighton we just knew it would be an area in which bitcoin would be jumped on.

“Also, the cheap remittance payments to Africa and future links to charitable donations all appeal to the strong local community.”

Graham Lally, founder of the Bitcoin Brighton group, said: “It’s been bubbling along for the past year so it’s a great step to bring it to mainstream attention.

“You can just walk in and exchange cash so I think people will enjoy experimenting and trying it out. It has a global scale and allows you to spend money around the world like sending an email.

“You don’t have to carry cash around and there’s less fraud risks.

“Certain aspects of it are revolutionary. I think bitcoin will be around for a while but it will be part of a much larger, rapidly changing landscape of technological innovation.”

Comments (3)

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1:39pm Tue 26 Aug 14

Man of steel says...

Knowing nothing about bitcoins until this article, I had a long read of various articles on the web, I came to the conclusion that it is the most complicated means possible of paying for anything, also as a non working pensioner, I would have to purchase these bitcoins, either using cash, or credit/debit card, and then use the bitcoin to pay.
Why not just use cash or card in the first place.
One of the selling points is that you are anonymous when using them, well so is cash.
If they are stolen, or lost, they are gone forever, unlike credit/debit cards, I can imagine all of the hackers out there trying to find a way through your "private key", do they mean password?
Knowing nothing about bitcoins until this article, I had a long read of various articles on the web, I came to the conclusion that it is the most complicated means possible of paying for anything, also as a non working pensioner, I would have to purchase these bitcoins, either using cash, or credit/debit card, and then use the bitcoin to pay. Why not just use cash or card in the first place. One of the selling points is that you are anonymous when using them, well so is cash. If they are stolen, or lost, they are gone forever, unlike credit/debit cards, I can imagine all of the hackers out there trying to find a way through your "private key", do they mean password? Man of steel
  • Score: 1

6:51pm Tue 26 Aug 14

sixloss says...

Man of steel wrote:
Knowing nothing about bitcoins until this article, I had a long read of various articles on the web, I came to the conclusion that it is the most complicated means possible of paying for anything, also as a non working pensioner, I would have to purchase these bitcoins, either using cash, or credit/debit card, and then use the bitcoin to pay.
Why not just use cash or card in the first place.
One of the selling points is that you are anonymous when using them, well so is cash.
If they are stolen, or lost, they are gone forever, unlike credit/debit cards, I can imagine all of the hackers out there trying to find a way through your "private key", do they mean password?
All good points - Bitcoin isn't about replacing cash or card directly, but about offering a global way of a) transferring and b) automating money (or value). That's the starting point - think about what open source software and the open internet has done for the world. Now apply the same thought to money.

Bitcoin is 'handier' than cash because you don't have to go to the cash point (but you do need to watch your phone battery). And merchants don't have to deal with change/running to the bank. Bitcoin is 'handier' than card in some ways - lower fees for traders, and no risk of chargebacks.

But the real advantages have yet to come, aside from bypassing huge fees to send money to foreign countries (have you tried a SEPA transaction recently?). In a world where software is more and more important, a way for software to send money anywhere and everywhere is inevitable. Bitcoin is an open source method for doing this, not owned by any particular company, companies, or states.

Why are we trying to apply that on a local level? Convenience. Fun. Security. (No more handing over card details to get skimmed.) Experimentation. Responsibility. Innovation. Change. Profit. Take your pick.
[quote][p][bold]Man of steel[/bold] wrote: Knowing nothing about bitcoins until this article, I had a long read of various articles on the web, I came to the conclusion that it is the most complicated means possible of paying for anything, also as a non working pensioner, I would have to purchase these bitcoins, either using cash, or credit/debit card, and then use the bitcoin to pay. Why not just use cash or card in the first place. One of the selling points is that you are anonymous when using them, well so is cash. If they are stolen, or lost, they are gone forever, unlike credit/debit cards, I can imagine all of the hackers out there trying to find a way through your "private key", do they mean password?[/p][/quote]All good points - Bitcoin isn't about replacing cash or card directly, but about offering a global way of a) transferring and b) automating money (or value). That's the starting point - think about what open source software and the open internet has done for the world. Now apply the same thought to money. Bitcoin is 'handier' than cash because you don't have to go to the cash point (but you do need to watch your phone battery). And merchants don't have to deal with change/running to the bank. Bitcoin is 'handier' than card in some ways - lower fees for traders, and no risk of chargebacks. But the real advantages have yet to come, aside from bypassing huge fees to send money to foreign countries (have you tried a SEPA transaction recently?). In a world where software is more and more important, a way for software to send money anywhere and everywhere is inevitable. Bitcoin is an open source method for doing this, not owned by any particular company, companies, or states. Why are we trying to apply that on a local level? Convenience. Fun. Security. (No more handing over card details to get skimmed.) Experimentation. Responsibility. Innovation. Change. Profit. Take your pick. sixloss
  • Score: 3

11:50pm Tue 26 Aug 14

ok,jared says...

Bitcoins??


Avoid!!
Bitcoins?? Avoid!! ok,jared
  • Score: 0
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