Bitcoin Center NYC

Last updated

Bitcoin Center NYC was founded by Nick Spanos and it is in the financial district of New York City. [1]

Contents

Bitcoin Center NYC hosted classes, talks, and a trading floor. [2] [3]

In 2015, the center's operating company filed for bankruptcy protection following a dispute with its landlord [4] and in the midst of uncertainty surrounding impending regulation of digital currencies by the New York State Department of Financial Services. [5] Afterwards, the center temporarily relocated to Cleveland Place in Nolita [6] [7] and is currently located at 157 Prince Street. [8] [9]

Early years

Before 2014, New York's bitcoin community originally met in Union Square and also in a Whole Foods on the Lower East Side. [10]

Notable visitors

Elected officials and political candidates to have visited the center to voice their support for cryptocurrency include former U.S. Congressman Steve Stockman of Texas [11] [12] [13] [14] and Maine State Senator Eric Brakey. [15]

Notable personalities to have spoken at or visited the Center include Ethereum co-founder Vitalik Buterin [5] and Bitcoin educator and evangelist Andreas Antonopoulos. [16] The center was also prominently featured in CNN's Morgan Spurlock Inside Man [16] in 2015 and in the 2016 Netflix documentary Banking on Bitcoin.

Related Research Articles

Steve Stockman American politician from Texas

Stephen Ernest Stockman is an American politician who is a member of the Republican Party and a convicted felon. He served as the U.S. Representative for Texas's 9th congressional district from 1995 to 1997 and for Texas's 36th congressional district from 2013 to 2015. Stockman ran in the Republican primary for the United States Senate in the 2014 election but lost to incumbent Senator John Cornyn. Stockman was convicted on 23 felony counts in 2018, was subsequently sentenced to serve ten years in prison, and was ordered to pay $1,014,718.51 in restitution. Stockman is currently in federal prison in Beaumont, Texas, and is scheduled for release on December 26, 2026.

Digital currency Internet based non-physical currency

Digital currency is a balance or a record stored in a distributed database on the Internet, in an electronic computer database, within digital files or within a stored-value card. Examples of digital currencies include cryptocurrencies, virtual currencies, central bank digital currencies and e-Cash.

A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees.

Bitcoin () is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.

Cryptocurrency digital medium of exchange

A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Coinbase is a digital currency exchange headquartered in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many others, with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide.

Charlie Shrem American entrepreneur

Charles Shrem IV is an American entrepreneur and bitcoin advocate. He co-founded the now-defunct startup company BitInstant, and is a founding member of the Bitcoin Foundation. In 2014 he was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road marketplace. He was released from prison in 2016. In 2017, he joined Jaxx and served as its chief operating officer, and founded cryptocurrency advisory CryptoIQ.

History of bitcoin history of the cryptocurrency

Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. It was invented and implemented by the presumed pseudonymous Satoshi Nakamoto who integrated many existing ideas from the cypherpunk community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant currency both on and offline – from the mid 2010s, some businesses began accepting bitcoin in addition to traditional currencies.

Dogecoin Cryptocurrency developed from the doge Internet meme

Dogecoin is a cryptocurrency featuring a likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo. Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.

Legality of bitcoin by country or territory Wikimedia list article

The legal status of bitcoin varies substantially from state to state and is still undefined or changing in many of them. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money varies, with differing regulatory implications.

Bitcoin ATM

A Bitcoin ATM is a kiosk that allows a person to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.

CoinDesk is a news site specializing in bitcoin and digital currencies. The site was founded by Shakil Khan and was subsequently acquired by Digital Currency Group.

A BitLicense is the common term used for a business license of virtual currency activities, issued by the New York State Department of Financial Services (NYSDFS) under regulations designed for companies. The regulations are limited to activities involving the state of New York or a New York resident. People residing in, located in, having a place of business in, or conducting business in the State of New York count as New York Residents under these regulations. The license was introduced and designed by Benjamin Lawsky, New York's first Superintendent of Financial Services, in July 2014. Chartered entities do not require an explicit BitLicense, but may instead proceed with virtual currency activities via limited purpose trust charters approved by the NYDFS.

Kraken is a US-based cryptocurrency exchange, founded in 2011. The exchange provides cryptocurrency to fiat trading, and provides price information to Bloomberg Terminal.

Quadriga Fintech Solutions

Quadriga Fintech Solutions was the owner and operator of QuadrigaCX, which was believed to be Canada's largest cryptocurrency exchange. In 2019 the exchange ceased operations and the company was declared bankrupt with C$215.7 million in liabilities and about C$28 million in assets.

Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency.

Bitcoin Cash Cryptocurrency that is a fork of Bitcoin

Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In 2018 Bitcoin Cash subsequently split into two cryptocurrencies: Bitcoin Cash and Bitcoin SV. Bitcoin Cash is sometimes also referred to as Bcash.

Predictions of a collapse of a speculative bubble in cryptocurrencies have been made by numerous experts in economics and financial markets.

Cryptocurrency and security describes attempts to obtain digital currencies by illegal means, for instance through phishing, scamming, a supply chain attack or hacking, or the measures to prevent unauthorized cryptocurrency transactions, and storage technologies. In extreme cases even a computer which is not connected to any network can be hacked.

bitFlyer is a private company headquartered in Tokyo, Japan and founded in 2014. It operates one of the largest cryptocurrency exchanges with 2.5 million users and develops other crypto-related technology.

References

  1. Brown, Jeff (June 11, 2018). "For brave investors there's two ways to bet on bitcoin". CNBC. Retrieved August 20, 2020.
  2. Rob Wile and Joe Weisenthal (February 4, 2014). "We Went Inside The Raucous Bitcoin Trading Pit That Sits In The Shadow Of The New York Stock Exchange". Business Insider . Retrieved April 6, 2018.
  3. Nitasha Tiku (February 4, 2014). "New York's Bitcoin Trading Floor Is Real and It Is Ridiculous". Gawker . Retrieved April 6, 2018.
  4. Michael del Castillo (March 19, 2015). "Bitcoin Center NYC bankruptcy barely dents blockchain momentum". New York Business Journal . Retrieved May 30, 2018.
  5. 1 2 Nathan Schneider (February 24, 2015). "After the Bitcoin Gold Rush". New Republic . Retrieved August 2, 2018.
  6. Anne Kadet (September 25, 2015). "Follow the Money—to a Museum in NYC". The Wall Street Journal . Retrieved August 2, 2018.
  7. Peter D'Amato (February 18, 2016). "New York is the Bitcoin ATM capital of the world". Crain's New York Business . Retrieved August 2, 2018.
  8. "What Is The Bitcoin Center?". bitcoincenternyc.com. October 2, 2014. Retrieved July 23, 2018.
  9. "Inside a Bitcoin ATM". Cheddar. March 2, 2018. Retrieved August 2, 2018.
  10. Jim Epstein & Naomi Brockwell (January 28, 2014). "Wall Street's New Cryptocurrency Headquarters: Inside the Bitcoin Center NYC". Reason . Retrieved August 3, 2018.
  11. Rob Wile (January 1, 2014). "This Texas Congressman Is Now Accepting Bitcoins For His Senate Run". Business Insider . Retrieved August 2, 2018.
  12. Aman Batheja (January 3, 2014). "Stockman Enters Legal Gray Area With Bitcoin Donations". Texas Tribune . Retrieved August 2, 2018.
  13. Will Tucker (January 3, 2014). "Stockman rallies for Bitcoin". Houston Chronicle . Retrieved August 2, 2018.
  14. Todd Gillman (February 3, 2014). "Updated: Stockman, in NY for another Bitcoin event, skips more votes in House". Dallas News . Retrieved August 2, 2018.
  15. Cameron Fuller (January 24, 2014). "New York's Bitcoin Center: Where The Cryptocurrency Elite And Newbies Gather". International Business Times . Retrieved June 19, 2014.
  16. 1 2 Kim Lachance Shandrow (February 20, 2015). "'Days Felt Like Years': What Morgan Spurlock Found When He Tried to Survive on Bitcoin for a Week". Entrepreneur . Retrieved August 2, 2018.