08 December 2016
Visit aciworldwide.com

Brits wary of crypto-currency; Nakomoto outed?; bitcoin goes to pot

17 April 2014  |  5639 views  |  0 bitcoin

Despite the hype, the vast majority of Brits have no interest in using bitcoin to shop online, with a lack of trust cited as the main barrier to uptake.

Of 2052 people polled by YouGov for digital commerce firm Venda, 71% say that they do not want the option to pay using virtual currency.

With high profile cases such as the Mt. Gox debacle - which saw hundreds of millions of dollars in bitcoins disappear - making headlines, 43% of respondents say that their main concern is that they do not trust the currency.

Many people are also still unclear on how bitcoin works, with 49% of women saying that they are unfamiliar with it and 36% of men. A quarter of Brits are put off by the currency's volatility which has seen prices bounce around over the last year in reaction to security scares and regulatory moves from governments around the world.

Meanwhile, bitcoin's supposed benefits leave most people unmoved. Just six per cent of those polled are drawn by its anonymity and only five per cent would be tempted if it meant no longer needing to carry cash.

Satoshi Nakamoto outed?

Separately, forensic linguistics experts from Aston University in Birmingham think that they have identified the author of the original bitcoin spec paper as writer Nick Szabo.

A group of forty linguistic students compared the language in the infamous paper with writing from 13 people who have been identified as suspects over the years.

Says Jack Grieve, lecturer in forensic linguistics, Aston: "The number of linguistic similarities between Szabo's writing and the Bitcoin paper is uncanny, none of the other possible authors were anywhere near as good of a match. We are pretty confident that out of the primary suspects Nick Szabo is the main author of the paper, though we can't rule out the possibility that others contributed."

Dorian Prentice Satoshi Nakamoto, the man 'outed' as bitcoin's creator by Newsweek last month was not among the 13 examined. He has repeatedly denied the magazine's claims.

Pot vending machine accepts bitcoin

A new marijuana vending machine called the ZaZZZ has been unveiled in Colorado, enabling locals to buy their weed with cash cards or bitcoin. Stephen Shearin, COO of the machine's maker American Green told CoinDesk that once customers have selected their pot they will see a QR code which they scan with their smartphone to complete the purchase through their bitcoin wallet.

"Providing a payment facility that has a super-low cost to it, like bitcoin, is an effective way to provide these guys - dispensaries and dispensary owners - with a means of doing their business that is more efficient than other facilities that charge a higher fee," says Shearin.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Mt. Gox CEO unwilling to travel to US to answer bankruptcy case questions

Mt. Gox CEO unwilling to travel to US to answer bankruptcy case questions

15 April 2014  |  3188 views  |  1 comments | 1 tweets | 1 linkedin
NAB turns its back on Bitcoin; cites reputational risks

NAB turns its back on Bitcoin; cites reputational risks

10 April 2014  |  5646 views  |  0 comments | 7 tweets | 6 linkedin
US tax man says bitcoin is property, not currency

US tax man says bitcoin is property, not currency

26 March 2014  |  4383 views  |  0 comments | 4 linkedin
Bitcoin not a currency but has tech potential - Goldman Sachs

Bitcoin not a currency but has tech potential - Goldman Sachs

13 March 2014  |  7791 views  |  7 comments | 10 tweets | 5 linkedin
Bank of Ireland rejects bitcoin ATM firm's account request

Bank of Ireland rejects bitcoin ATM firm's account request

11 March 2014  |  4320 views  |  0 comments | 7 tweets | 7 linkedin
Man denies being bitcoin creator as he leads car chase

Man denies being bitcoin creator as he leads car chase

07 March 2014  |  6063 views  |  1 comments | 3 tweets | 1 linkedin
UK rejects VAT on bitcoin trades

UK rejects VAT on bitcoin trades

03 March 2014  |  4791 views  |  0 comments | 7 tweets | 6 linkedin
MT Gox goes up in smoke. Is this the end for bitcoin?

MT Gox goes up in smoke. Is this the end for bitcoin?

25 February 2014  |  6878 views  |  5 comments | 15 tweets | 10 linkedin
Bitcoin plunges again after dark market Web hack

Bitcoin plunges again after dark market Web hack

14 February 2014  |  6367 views  |  7 comments | 10 tweets | 7 linkedin
Bitcoin bug causes massive sell-off

Bitcoin bug causes massive sell-off

10 February 2014  |  11071 views  |  7 comments | 23 tweets | 16 linkedin
London hosts Satoshi Square bitcoin meetup

London hosts Satoshi Square bitcoin meetup

17 January 2014  |  4260 views  |  1 comments | 5 tweets | 1 linkedin
UK bitcoin exchange opens

UK bitcoin exchange opens

29 October 2013  |  8452 views  |  0 comments | 8 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comFind out moreFind out more

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7706 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7597 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7510 views comments | 36 tweets | 30 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
6880 views comments | 34 tweets | 46 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6590 views comments | 20 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job