# Bitcoin center

Bitcoin Center is a cryptocurrency hub and trading center first launched in a 6,000 sf retail location at 40 Broad Street in New York City, 100 feet from the New York Stock Exchange. The Bitcoin Center NYC was launched by Nick Spanos on New Year's Eve 2013 as a brick-and-mortar center dedicated to promoting and educating the public about cryptocurrency.
The center served as both an educational hub and a catalyst for cryptocurrency adoption, hosting regular trading sessions and educational events to introduce the public to digital currencies.

## History
### Founding vision

Nick Spanos, the center's founder, envisioned creating a physical hub to make cryptocurrency more accessible to the general public. In interviews, Spanos emphasized the importance of having a tangible location where people could learn about Bitcoin firsthand.

### Founding

The center was founded by Nick Spanos and cofounders Andrew Martin, Hamdan Azhar, Austin Alexander, Alan Stevo, Alex Palanzas, Jeff Goolsby, James Barcia, and Steve on New Year's Eve 2013.
Its location at 40 Broad Street was chosen deliberately for its proximity to Wall Street and the New York Stock Exchange, symbolizing the connection between traditional finance and cryptocurrency. The founders aimed to create an accessible space where people could learn about and trade cryptocurrency in person, helping to demystify the technology for newcomers.
Stockman, who is challenging U.S. Sen. John Cornyn of Texas in this year’s Republican primary, was attending an event promoting the NYC Bitcoin Center in New York's financial district earlier this week when he told a reporter with Business Insider that his campaign could now accept Bitcoin donations. Stockman appeared to confirm the report by posting it on Facebook and Twitter.

### Facility and operations

The Bitcoin Center NYC operated from a 40,000-square-foot space at 40 Broad Street.
The facility featured an open trading floor reminiscent of traditional stock exchanges, classrooms for educational programs, and event spaces for community gatherings. Trading sessions were held in what was formerly a private club dining room, symbolizing the transition from traditional finance to cryptocurrency innovation. The center also housed cryptocurrency infrastructure, including Bitcoin ATM technology, making it an early adopter of physical cryptocurrency services in New York City.

### Early operations

In its early days, the center hosted regular "Satoshi Square" events, where cryptocurrency enthusiasts could engage in face-to-face trading.
The center operated as a seven-day-a-week gathering space for the cryptocurrency community, with trading sessions held every Tuesday night. These events consistently drew crowds of over 100 people, including a mix of experienced traders, curious newcomers, and technology enthusiasts. The center's activities helped demonstrate that bitcoin trading could operate transparently and openly, with founder Nick Spanos emphasizing the importance of public engagement and education in building trust in cryptocurrency. The trading sessions were notable for their energy and accessibility, with participants ranging from Wall Street professionals to cryptocurrency enthusiasts engaging in direct, peer-to-peer transactions. Beyond Bitcoin, the center became known for hosting events focused on various cryptocurrencies, including notable gatherings for alternative coins like Dogecoin. The open nature of these trading activities would later become a significant point of discussion in the context of cryptocurrency regulation in New York State.

### Regulatory environment and legitimization

The Bitcoin Center NYC played a significant role in New York's early approach to cryptocurrency regulation. As state regulators worked to understand and oversee digital currencies in early 2014, the center served as a visible example of cryptocurrency's transition from a fringe technology to a more mainstream financial instrument.

### Regulatory Impact

The Bitcoin Center NYC's open trading activities may have influenced subsequent cryptocurrency regulation in New York State. The center's peer-to-peer trading operations, conducted openly near Wall Street, preceded the development of New York's BitLicense regulatory framework.
The latest on this front is news that the Bitcoin Center NYC has met up with the New York Department of Financial Services (NYDFS) to talk about the proposal. The Bitcoin Center's Executive Director, Raymond Cline, met up with Dana Syracuse at NYDFS headquarters in New York for the discussions.

### Regulatory changes

The introduction of New York's BitLicense regulatory framework in 2015 significantly impacted cryptocurrency businesses in the state, including Bitcoin Center NYC.

## Key people
### Nick Spanos

As co-founder and leader of Bitcoin Center NYC, Nick Spanos played a central role in establishing cryptocurrency's presence in New York's financial district. Prior to founding the center, Spanos served as a senior advisor to Congressman Ron Paul,
bringing libertarian economic perspectives to his vision for cryptocurrency adoption. Beyond founding the center, Spanos became a prominent voice in cryptocurrency, advocating for greater public understanding and adoption of blockchain technology. Through his company Blocktech, he later helped establish blockchain education initiatives internationally, including Saudi Arabia's first Blockchain Lab.
His vision for the center emphasized the importance of creating a physical space where people could learn about and trade cryptocurrency in a transparent environment. Spanos's influence extended internationally through speaking engagements and educational initiatives across multiple countries.

### Hamdan Azhar

Hamdan Azhar served as co-founder of Bitcoin Center NYC. His work with the center extended to international blockchain education initiatives, including collaborating with Spanos through Blocktech to establish Saudi Arabia's first Blockchain Lab. Azhar also contributed to discussions about cryptocurrency adoption in Muslim communities, providing insights into the compatibility of digital currencies with Islamic financial principles.

### Naomi Brockwell

Naomi Brockwell served as the Policy Director for Bitcoin Center NYC. Known in the cryptocurrency community as "Bitcoin Girl," Brockwell played a significant role in shaping the center's regulatory and policy positions during a crucial period of cryptocurrency regulation development in New York.

## Activities
### Social impact initiatives

The Bitcoin Center NYC hosted events that highlighted cryptocurrency's potential for social change and financial inclusion. A notable example was their collaboration with the Women's Annex Foundation, which demonstrated how Bitcoin could be used to empower women in Afghanistan through digital financial access.

### Alternative cryptocurrency events

While primarily focused on Bitcoin, the center also embraced other emerging cryptocurrencies. In February 2014, it hosted what was publicized as the world's first Dogecoin-themed party, demonstrating the center's openness to the broader cryptocurrency ecosystem.

### International influence

The Bitcoin Center NYC's influence extended beyond the United States through various international engagements. Nick Spanos, the center's founder, participated in global cryptocurrency conferences and educational events, including speaking at international forums in Armenia about Bitcoin and blockchain technology. In 2018, Spanos and Bitcoin Center NYC co-founder Hamdan Azhar helped establish Saudi Arabia's first Blockchain Lab through their company Blocktech, expanding their educational mission to the Middle East.

### Industry events and conferences

Bitcoin Center NYC established itself as a key player in New York's cryptocurrency conference circuit. The center supported significant industry events like the Inside Bitcoins NYC conference in April 2014, highlighting the evolution of cryptocurrency technology and its growing mainstream adoption.

### Technical infrastructure

The Bitcoin Center NYC played a role in the early development of cryptocurrency infrastructure in New York City. The center was among the early locations in New York to feature Bitcoin ATM technology, contributing to the city's eventual emergence as a significant hub for Bitcoin ATM deployment.

### Technical innovation and development

The Bitcoin Center NYC actively fostered technical innovation in cryptocurrency through various initiatives. In April 2014, the center hosted its first hackathon, bringing together developers to create new applications and solutions in the cryptocurrency space.

### Education and events

The center offered various educational programs and community events, including:
* Introductory Bitcoin classes
* Blockchain technology workshops
* Cryptocurrency trading seminars
* Programming boot camps
* Regular networking events
* Developer hackathons and coding competitions
The center's educational initiatives ranged from beginner-friendly introductions to advanced technical training, helping to build a diverse and knowledgeable cryptocurrency community in New York City.

### Cultural impact

The Bitcoin Center NYC and its leaders played a role in bridging cultural divides in cryptocurrency adoption. Through the work of co-founder Hamdan Azhar, the center contributed to discussions about cryptocurrency's compatibility with various cultural and religious frameworks, particularly in Muslim communities. At a time when questions about cryptocurrency's compliance with Islamic financial principles were emerging,

### Public engagement

The Bitcoin Center NYC played a significant role in making cryptocurrency more approachable to the general public. By providing a physical location and friendly environment for cryptocurrency education and trading, the center helped demystify digital currencies for newcomers.

### Community impact

Bitcoin Center NYC played a significant role in fostering the early cryptocurrency community in New York City. It served as a meeting point for developers, entrepreneurs, and investors interested in blockchain technology. The center's impact extended beyond local community building to include international initiatives, particularly in highlighting cryptocurrency's potential for global financial inclusion and social change.

## Media appearances

The center was featured in various media outlets and documentaries about cryptocurrency, including the film "Banking on Bitcoin" (2016)
and CNN's Morgan Spurlock Inside Man. In the latter, host Morgan Spurlock visited the New York City Bitcoin Center to purchase bitcoin during an episode focusing on cryptocurrency.
At the Bitcoin Center in New York City, Spurlock buys his first bitcoin from the live auctioneer at the site
The center also hosted educational events, including a 2014 roundtable discussion on Bitcoin and blockchain technology specifically designed for journalists.

## Legacy

Bitcoin Center NYC helped establish New York City as a major cryptocurrency and blockchain technology hub. Its educational initiatives and community-building efforts contributed to wider acceptance and understanding of digital currencies in the traditional financial sector. The center's historical significance was documented in multiple documentaries, including the 2016 Netflix documentary "Banking on Bitcoin"(2014), preserving its role in the early development of cryptocurrency culture.