“It’s really exciting for all of us,” said Matt Russell of PYC Bitcoin. “As a team of bitcoiners we get to aid adoption and plus it’s a really cute machine.”
Flat 128 sells “jewlery, clothing, and women’s accessories” from the UK said owner Elizabeth DuBois who knew little about bitcoin when she started working with her friend Russell.
“I am so excited. It’s incredible to be the first one in Manhattan,” she said.
She expects her customers to be a bit confused at first – but intrigued. She also expects to see different customers than her anglophile base.
“It’s a huge conversation piece,” she said. “I had a chair [where it was] before and this BTM has replaced it.” DuBois will offer a 10% discount to all purchases made with bitcoin. The ATM opens today at 11am Eastern at 15 Christopher Street.
PYC is a bitcoin ATM operator and has one BTM in Albany, New York. The company is looking to expand into New Jersey and New Hampshire shortly, if not your local bodega/loosie market. But is it legal?
“I expect the machine to be quite popular and to be the first of many similar machines in NYC. High foot-traffic locations usually make a full return on their investments within several months,” said Lamassu CEO Zach Harvey. “There are and will be regulatory questions regarding the use of the machine and Bitcoin in New York in general, but PYC Bitcoin is a licensed MSB and we have many compliance solutions to fit whatever needs arise, should they become necessary.”