[LINK] "Bitcoins gaining traction around the Black Sea"

[rfmcdonald]

I'm skeptical of this EconoTimes report, but it does not seem implausible that countries bordering the Black Sea--technologically advanced, but legally insecure--might resort to the use of bitcoins.

According to a latest report by Bravenewcoin, countries in the region, collectively known as the 'Black Sea Basin,' is experiencing rapid growth in both bitcoin adoption, and infrastructure. There are over 13,600 locations to buy bitcoin in person in the region.

It's not at all apparent when looking at an ATM placement map, such as Coin ATM Radar, how densely populated these areas are with shops and machines that will sell bitcoins for the local currency.

Such websites only list bitcoin-focused ATM machines, not multipurpose kiosks, nor shops where you can go to the counter and purchase bitcoins from the clerk. If you could include these kinds of shops and machines, which are every bit as good at selling bitcoins as a bitcoin ATM, then it's clear that countries in eastern Europe have an extraordinarily high degree of bitcoin access.

Some of the biggest payment Kiosk companies include the IBOX in the Ukraine, JSC Nova in Georgia and Zebra Pay in Romania, the report said. Striking agreements to add Bitcoin exchange applications to these kiosks, in one or both directions, has so far been an easy job for local Bitcoin entrepreneurs.