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British university professor slams Winklevoss twins' Bitcoin venture

Sophie Curtis | July 5, 2013
Virtual currency needs to gain credibility as a neutral and universally accessible currency.

"Bitcoin needs to work harder on explaining its philosophy and on regulation, they need to do a bit of a charm offensive with the regulators and make them comfortable with it while being true to their principles."

At the inaugural Bitcoin London conference this week, start-up Lamassu Bitcoin Ventures showed off a prototype of its bitcoin ATM, which allows users to convert bank notes into the digital currency.

The ATM was first shown off in May in the US with American dollars, but has now been setup to be used in Europe. The company hopes to ship the machines globally in the autumn, and they will cost between $4,000 and $5,000.


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