getting bitcoin on the highstreets (uk)

[coin fan]

1st time poster big fan of bitcoin and the ideas behind it!!
I have an idea for getting bitcoin excepted in some shops, please could you vote or post any ideas you have as a good place to start thanks.

[Gator-hex]

www.takeaway.com is already doing a good job of getting food to bitcoiners but I believe restaurants are the best way to get coins out there because they only accept cash (transactions too small for credit cards), and the teens who use them don't cook, but are tech aware.

Bitcoin will be of most interest to sole traders who do small cash transactions. Places too small to make credit card terminals economical. It needs to done via mobile phones so there is no infrastructure cost.

[coin fan]

yes i was thinking sole traders as they would also be easier to approach with the idea. I was considering providing a QR code to the "establishment" and then giving them the cash at the end of the day/week/month just to get bitcoin out there more, would only be able to mange a small amount of shops in the beginning, can u see any problems that may be encountered (prevention better than cure and all that) thanks.

[0xD9B4BEF9]

Maplin.

PaddyPower - online first, then high street. Withdrawals go back to where they came from same as all other payment forms.

[Gator-hex]

yes i was thinking sole traders as they would also be easier to approach with the idea. I was considering providing a QR code to the "establishment" and then giving them the cash at the end of the day/week/month just to get bitcoin out there more, would only be able to mange a small amount of shops in the beginning, can u see any problems that may be encountered (prevention better than cure and all that) thanks.

You may need to register with the financial services authority. I heard they want to encourage micro payment service startups in the UK.

[coin fan]

Do you know if you have to be registered with the FSA if you buy bitcoin with cash in UK?

[Lethn]

There are pubs in the UK that have started accepting Bitcoin and a couple of online only businesses including myself, I also accept altcoins It's happening slowly, people just need to educate themselves on it all and do some research.

[Gator-hex]

Do you know if you have to be registered with the FSA if you buy bitcoin with cash in UK?

Just need to register if you start a company that hold cash on other people behalf so they can check your not a banned director, check your accounts are true, and check you follow anti-money laundering rules. It's illegal not to register if you run this kind of business in the UK.

[coin fan]

Would you need to register if for example i was to go into a shop give them say £100 tell them to put the money in the till for each item they sell using bitcoin, i get the coin value sent to my wallet using the QR code therfore no need for accounts or holding anyone else money, its more like im buying the bitcoins of the "spender" for cash and they are then spending that cash in the shop (no profit involved). GRAY AREA ALERT lol thanks again!!

[Gator-hex]

Would you need to register if for example i was to go into a shop give them say £100 tell them to put the money in the till for each item they sell using bitcoin, i get the coin value sent to my wallet using the QR code therfore no need for accounts or holding anyone else money, its more like im buying the bitcoins of the "spender" for cash and they are then spending that cash in the shop (no profit involved). GRAY AREA ALERT lol thanks again!!

LOL, that sound like money laundering, good luck with that, gold dealers have to record large transactions or multiple small transactions over a certain amount, or face jail time.

If you want to turn cash into Bitcoins just buying mining equipment or using www.localbitcoins.com would be simpler.

You're talking about a country with 1 CCTV camera for every 11 people, you can't drop litter without getting a fine!

[coin fan]

LOL yer your not wrong, thanks for the advice.

[ninjafocus100]

Definitely will be adopted in local market.. but it will take some time.