Bitcoin Exchange Berlin is bringing digital currency to market

The monthly exchange shook down at the Platoon Kunsthalle, an art space made from stacked shipping containers. Aaron Koenig, the founder and organizer of BXB, rushed around the venue, as vendors had small blackboards scrawled with their prices. Everyone wore matching black hats emblazoned with the BXB logo and vendor name stickers.

The marketplace focused on cultural fare—art books sold alongside festival tickets and of course the usual traders. It was a local market the likes of which are replicated the world over, but rather than fumbling for cash, vendors and buyers swapped digital currency.

Bitcoin is picking up speed in Germany now that it is recognized as private money. Dubbed a “unit of account” by German lawmakers, the digital currency can now be used for private transactions. But as tax and accounting issues still need to be worked out, Bitcoin’s biggest value remains in person-to-person transactions.

There are still plenty of opportunities to use it. There are streets where you can shop with virtual cash, like the scene hub, Room 77. At BXB, there was that crowd and more.

While there was beer, it was less of a bar environment and more of a full-fledged street market. There was stuff perched up on crates, other products in a shopping cart. The DJ spun reggae records that kept the vibe chill and quiet. Business cards were exchanged, while others had their contact info on stamps to save paper.

What makes this Berlin series different than the open air exchanges in New York, for example, is that people were actually buying and selling products, on top of the typical bitcoin exchange. Also, there were girls. And it was arty.

Read the full story on Motherboard | All photos by Nadja Sayej