Established in 1930, Tooting Market in South London stands as an iconic indoor market and holds the distinction of being the UK's first food market.
Recognition and Acclaim
Tooting Market has received accolades such as Best Small Indoor Market at the 2017 Great British Market Awards. Additionally, Tooting has been featured among Lonely Planet’s ‘Favorite Lesser-Known Neighborhoods In The World's Greatest Cities.'
Introduction of Bitcoin Payments
Bitcoin payments have now been integrated into Tooting Market, thanks to the efforts of local Bitcoin enthusiasts, spearheaded by the pseudonymous Bitcoiner Hashley Giles.
With the support of Bridge 2 Bitcoin, a UK-based Bitcoin circular economy builder, eight merchants, including restaurants, bars, and a vinyl record store, have begun accepting Bitcoin as a form of payment since June 18, 2024.
This integration event witnessed the participation of prominent members and organizations within the Bitcoin community, such as CommerceBlock, Mercury Layer, CoinShares, Civkit, Bitcoin Core developers, Pleb Underground, and Lightning Network developers.
Impact and Future Implications
The introduction of Bitcoin payments at Tooting Market could mark a significant milestone in Bitcoin adoption within the UK. Local traders have embraced the simplicity and decentralized nature of Lightning payments, offering a viable solution to the banking-related challenges faced by cash-dependent businesses.
Nicholas Gregory, leading at Mercury Layer & Civkit, emphasized the potential impact of this initiative. According to Gregory, "Local initiatives like this play a crucial role in advancing Bitcoin adoption. Increased acceptance of Bitcoin by traders can influence authorities to acknowledge it as a legitimate payment method, thereby enhancing its usability from a tax efficiency standpoint."
Potential for Bitcoin Adoption in the UK
This development at Tooting Market could signify the UK's version of the 'Bitcoin Beach' phenomenon, reminiscent of the success observed in El Zonte, El Salvador. Bitcoin Beach in El Zonte transformed the area into a hub for Bitcoin adoption, ultimately leading to Bitcoin being recognized as legal tender in El Salvador.
Tooting Market has the potential to emerge as a focal point for Bitcoin adoption in the UK, fostering widespread acceptance and utilization of Bitcoin throughout the country. The market's unique position at the intersection of tradition and modern innovation exemplifies how local communities can drive the adoption of innovative technologies like Bitcoin.
This harmonious blend of historical charm and cutting-edge financial practices at Tooting Market could serve as a model for markets in various other regions.
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How To
The best place to buy silver or gold online
First, understand the basics of gold. It is a precious metal that is very similar to platinum. Because of its resistance to corrosion and durability, it is very rare. It is hard to use, so most people prefer jewelry made of it to real bars of gold.
There are two types of gold coins available today – one type is legal tender, while the other is called bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins can only be used as investment currency. They increase in value due to inflation.
They can't be exchanged in currency exchange systems. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. Each dollar spent earns the buyer 1 gram gold.
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Private sellers are individuals who offer gold for sale, either at wholesale prices or retail prices. You pay a commission fee between 10% and 15% for each transaction when you sell gold through private sellers. A private seller will usually return less money than a coin shop and eBay. This option can be a good choice for investing in gold because it allows you to control the price.
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To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can offer you a loan for the amount that you need to buy gold. Customers can borrow money from pawnshops to purchase items. Banks usually charge higher interest rates that pawn shops.
You can also ask for help to purchase gold. Selling gold is simple too. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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