{"id":80882,"date":"2024-06-19T18:00:32","date_gmt":"2024-06-19T18:00:32","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2024\/06\/19\/bitcoin-now-accepted-at-south-londons-tooting-market\/"},"modified":"2024-06-19T18:00:32","modified_gmt":"2024-06-19T18:00:32","slug":"bitcoin-now-accepted-at-south-londons-tooting-market","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2024\/06\/19\/bitcoin-now-accepted-at-south-londons-tooting-market\/","title":{"rendered":"Bitcoin Now Accepted At South London's Tooting Market"},"content":{"rendered":"


\n<\/p>\n

Established in 1930, Tooting Market<\/a> in South London is an iconic indoor market and the UK’s first food market.<\/p>\n

It has garnered accolades such as Best Small Indoor Market<\/a> at the 2017 Great British Market Awards and Tooting is listed among Lonely Planet\u2019s \u2018Favorite Lesser-Known Neighborhoods In The World’s Greatest Cities.<\/a>‘<\/p>\n

And now it accepts bitcoin payments.<\/p>\n

Bitcoin Integration<\/h2>\n

Local Bitcoin enthusiasts, led by a pseudonymous Bitcoiner known as Hashley Giles<\/a>, have successfully introduced bitcoin payments at the market.<\/p>\n

With support from Bridge 2 Bitcoin<\/a> (UK-based Bitcoin circular economy builder), eight merchants \u2014 including restaurants, bars, and a vinyl record store \u2014 started accepting Bitcoin on June 18, 2024.<\/p>\n

This event saw participation from notable Bitcoin community members and organizations such as CommerceBlock<\/a>, Mercury Layer<\/a>,\u00a0CoinShares<\/a>, Civkit<\/a>, Bitcoin Core developers, Pleb Underground<\/a>, and Lightning Network developers.<\/p>\n

\n

Some restaurants and bars at Tooting Market now accept bitcoin.<\/figcaption><\/figure>\n

Impact and Future Prospect<\/h2>\n

This initiative could be a pivotal moment for Bitcoin adoption in the UK.<\/p>\n

Local traders appreciate the simplicity and permissionless nature of Lightning payments, which offer a solution to banking challenges faced by cash-based businesses.<\/p>\n

Nicholas Gregory, lead at Mercury Layer & Civkit, highlighted the potential impact.<\/p>\n

“Local initiatives like this are key for Bitcoin,” explained Gregory. “The more traders accept Bitcoin, the more we can push the state to recognize it as a legitimate form of payment, making it easier to use from a tax efficiency perspective.”<\/p>\n

\n

Certain merchants at Tooting Market now accept bitcoin.<\/figcaption><\/figure>\n

Bitcoin Beach Moment for the UK<\/h2>\n

This could be the UK’s Bitcoin Beach moment, emulating the success seen in El Zonte, El Salvador.<\/p>\n

Bitcoin Beach transformed El Zonte into a Bitcoin adoption hub, eventually leading to Bitcoin being recognized as legal tender in El Salvador.<\/p>\n

Tooting Market could similarly become a mecca for Bitcoin adoption in the UK, driving broader acceptance and usage of Bitcoin across the country.<\/p>\n

Tooting Market stands at the intersection of tradition and modern innovation, exemplifying how local communities can drive the adoption of new technologies like Bitcoin.<\/p>\n

This blend of historical charm and cutting-edge finance could set a precedent for markets in other regions.<\/p>\n


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