18 Jul '13, 6pm

Bitcoin's Open-Air Trading Floor - Businessweek #bitcoin

People gather every Monday evening in New York’s Union Square to buy and sell the crypto-currency known as Bitcoin. Flashing cash and smartphones, men make trades worth thousands of dollars in a nook of the park they call Satoshi Square. The scene is like an open-air trading floor, and indeed, participants liken themselves to the men who hatched New York’s first stock exchange under a buttonwood tree in 1792. Similar gatherings have taken place in London , and an inaugural one will take place in Toronto next week. What gives? While the economic appeal of Bitcoin is easy to understand—it’s not tethered to a central bank and can be traded at low or zero cost—it’s not clear if the currency has a place in everyday life. To get a better idea, I paid $96 this week to buy my first Bitcoin and went to Satoshi Square. Here’s a summary of what I saw, some pictures, and three takeawa...

Full article: http://www.businessweek.com/articles/2013-07-18/bitcoins-...

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businessweek.com 18 Jul '13, 6pm

People gather every Monday evening in New York’s Union Square to buy and sell the crypto-currency known as Bitcoin. Flashi...

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