menu

Bitcoin Trading Floor Models Itself After Wall Street

Bitcoin Trading Floor Models Itself After Wall Street
culture

In-person cryptocurrency trades take New York City by storm.

Serena Chu
  • 6 february 2014

Bitcoin traders who are feverishly looking for a place to trade in-person can now make their way to “Satoshi Square.” Located just one block away from the New York Stock Exchange, the floor of the Bitcoin Center NYC recently hosted its third trading event Monday night, which saw about 100 people attend.

The Center, sponsored by real estate developer and Bitcoin enthusiast Nick Sponas, has quickly established itself as the go-to spot for all major cryptocurrency trading. Dogecoin, the third largest traded digital currency, was also on offer that night.

In an unregulated market, all transactions were taken and closed on traders’ smartphones. People set up transfers through their Bitcoin wallets, and exchanged public keys for payment.

settling up

The Treasury Department takes no part in this proprietary trading because it does not fall under their statutes.

Mark Anthony, a former Amex Exchange cotton trader, tried his hand in the market and commented on the pit’s advantages over virtual exchanges. “If you went to [an electronic market], you’d have to leave your money there, maybe you’d get it out, and it could get stuck in Mt. gox,” he said. “Here, anyone in New York City who wants to buy some bitcoin will learn this is a good place to put it.”

Though most people attended as mere curious bystanders, the takeaway here is that people got a chance to meet up with like-minded individuals who are excited about the burgeoning Bitcoin community in New York.

Source, images: BusinessInsider

 

 

Trending

Zagat's Cafe Offers Tiny Replicas Of Classic NYC Dishes

Experiential Marketing
Social Media Today

Your Favorite Tweets Are Now Wearable

This temporary tattoo allows fans to wear their most favorite moments from the social platform

Technology Today

This Mirror Tracks Your Dark Circles And Fine Lines

HiMirror is a device snaps a photo of your face every day to provide feedback on how to care for your skin

Trending

Get PSFK's Related Report: Future of Automotive

See All
Sustainability Today

Biodegradable Furniture Made From Pine Needles Could Be The Next Phase Of Sustainable Living

Premiering at Dutch Design Week 2016, the collection fully utilizes an often wasted material

Related Expert

Katherine Moriwaki

Wearable Technology and Fashion

Technology Today

Modular System Lets Musicians Create Their Own MIDI Controllers

Mine is a customizable music-maker that lets people design their most ideal layout

USA Today

Amazon Launches Cashier-Free Store For Ultimate Efficiency

The retailer is looking to make shopping even faster by letting customers instantly pay as they walk out the door

Augmented & Virtual Reality Today

Marble-Like Mini-Worlds Invade Miami Art Week And Your Mobile Screen

The gallery world's sphere of influence seems to be expanding into the realm of Pokémon Go—why that's a good thing

PSFK LABS REPORT

Future Of Retail 2017
Transformation Strategies For Customer-First Business
NEW

PSFK Op-Ed Today

Creative Director: Navigating The New World Of Founder-Brands

Richard Smith, Creative Director at Sullivan, explains how visionaries like Elon Musk and Mark Zuckerberg approach their branding and why it’s important to apply brand thinking to founders’ products

PSFK Labs december 1, 2016

Retail Spotlight: Home Depot Reimagines How Employees Conduct Tasks

The home improvement retailer puts the customer first by initiating local fulfillment centers and simplifying freight-to-shelf inventory management

Health Today

A 'USB Stick' That Can Detect HIV Levels

The simple device developed at Imperial College London measures viral load in less than 30 minutes

Customer Retention Today

Crafting The Personalized Retail Experience

Marriott International's Christopher Baer shares insights into how the hospitality company is strategizing customer service

Children Today

Experience The White House In Augmented Reality Using A $1 Bill

1600 Pennsylvania Ave. is an AR app designed to help people learn about the history and significance of the United State's capital building

Travel Today

Portable Computer Monitor Opens Up Like An Umbrella For Travelers

This mobile screen and projector means work can go anywhere and still feel like working from home

Food Today

Starbucks Is Selling An Automated Temperature-Setting Mug

For those looking to keep their coffee hot on their winter commutes, the coffee chain has created a device that keeps beverages exactly at their desire temperature

PSFK EVENT

FUTURE OF RETAIL 2017:
Conference Built Around Report Launch
BUY TICKETS

Mobile Today

This Piece Of Plastic Is Designed To Curb Phone Addiction

The NoPhone Air from New York agency Barton F. Grafis is actually no phone at all

Retail Yesterday

Store Technology Expert: Why Retailers Must Invest In Store Associates

Jan Kotowski, Head of Product at Tulip Retail, shares his thoughts on how retailers should be preparing for the future

No search results found.