Bitcoin Center NYC

Bitcoin Center NYC was founded by Nick Spanos in 2013 in the financial district of New York City, located 100 feet away from the New York Stock Exchange.[1] The center's main claim to fame is as the "first brick and mortar exchange for Bitcoin" and also as a catalyst for New York State's subsequent regulatory crackdown on cryptocurrency businesses. [2]

Bitcoin Center NYC was the "preeminent bitcoin location in the area" and hosted "countless classes, talks, and a trading floor."[3][4]

In 2015, the center's operating company filed for bankruptcy protection following a dispute with its landlord[5] and in the midst of uncertainty surrounding impending regulation of digital currencies by the New York State Department of Financial Services.[6] Afterwards, the center temporarily relocated to Cleveland Place in Nolita[7][8] and is currently located at 157 Prince Street.[9][10]

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.[11] Nick Spanos founded Bitcoin Center NYC as “the city’s only brick-and-mortar institution dedicated to the further adoption of Bitcoin” and to promote education on cryptocurrencies and blockchain technology.[12][13] In the past, the center has helped bitcoin startups through its access to interested investors, experienced personnel in Bitcoin, and various networking opportunities.[9] The center has also promoted bitcoin through events including Satoshi Square, music festivals, lectures, hackathons, and film screenings.[14][15][16] The center is the only premier educational institution dedicated to promoting awareness of competing cryptocurrencies.[13]

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[17][18][19][20] and Maine State Senator Eric Brakey.[1]

Notable personalities to have spoken at or visited the Center include Ethereum co-founder Vitalik Buterin[6] and Bitcoin educator and evangelist Andreas Antonopoulos.[21] The center was also prominently featured in CNN's Morgan Spurlock Inside Man[21] in 2015 and in the 2016 Netflix documentary Banking on Bitcoin.

References
  1. Cameron Fuller (January 24, 2014). "New York's Bitcoin Center: Where The Cryptocurrency Elite And Newbies Gather". International Business Times. Retrieved June 19, 2014.
  2. "Initial Coin Offerings: Emerging Technology's Fundraising Innovation" (PDF). UCLA Law Review. 2019. Retrieved October 17, 2019.
  3. 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.
  4. Nitasha Tiku (February 4, 2014). "New York's Bitcoin Trading Floor Is Real and It Is Ridiculous". Gawker. Retrieved April 6, 2018.
  5. Michael del Castillo (March 19, 2015). "Bitcoin Center NYC bankruptcy barely dents blockchain momentum". New York Business Journal. Retrieved May 30, 2018.
  6. Nathan Schneider (February 24, 2015). "After the Bitcoin Gold Rush". New Republic. Retrieved August 2, 2018.
  7. Anne Kadet (September 25, 2015). "Follow the Money—to a Museum in NYC". Wall Street Journal. Retrieved August 2, 2018.
  8. 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.
  9. "What Is The Bitcoin Center?". bitcoincenternyc.com. October 2, 2014. Retrieved July 23, 2018.
  10. "Inside a Bitcoin ATM". Cheddar. March 2, 2018. Retrieved August 2, 2018.
  11. Jim Epstein & Naomi Brockwell (January 28, 2014). "Wall Street's New Cryptocurrency Headquarters: Inside the Bitcoin Center NYC". Reason. Retrieved August 3, 2018.
  12. Cameron Fuller (March 8, 2014). "Bitcoin Buying 101: Person-To-Person Exchanges Like Satoshi Square Make Purchasing Cryptocurrencies Easy". International Business Times. Retrieved August 2, 2018.
  13. <Azeem Khan (January 7, 2014). "Why the NYC Bitcoin Center Matters". Huffington Post. Retrieved August 2, 2018.
  14. "The Iconic Satoshi Square Meetup RETURNS for 2018!". Meetup. January 11, 2018. Retrieved April 4, 2018.
  15. "Bitcoin's true believers vow to ride out cryptocurrency rollercoaster". Business Times (Singapore). April 19, 2018. Retrieved August 2, 2018.
  16. Jerin Mathew (January 22, 2014). "Bitcoin Centre NYC Launches Open Source ATM Software". International Business Times. Retrieved August 3, 2018.
  17. Rob Wile (January 1, 2014). "This Texas Congressman Is Now Accepting Bitcoins For His Senate Run". Business Insider. Retrieved August 2, 2018.
  18. Aman Batheja (January 3, 2014). "Stockman Enters Legal Gray Area With Bitcoin Donations". Texas Tribune. Retrieved August 2, 2018.
  19. Will Tucker (January 3, 2014). "Stockman rallies for Bitcoin". Houston Chronicle. Retrieved August 2, 2018.
  20. Todd Gillman (February 3, 2014). "Updated: Stockman, in NY for another Bitcoin event, skips more votes in House". Dallas News. Retrieved August 2, 2018.
  21. 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.
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