A walk-in dentist in London is refusing to give money to bitcoiners.
The office’s owner said he is not accepting payments from the cryptocurrency, which was launched on Thursday and has been criticised for being too volatile.
Dental assistants in London and around the UK have been using the cryptocurrency to pay for their services since its launch.
But the practice in the capital is now the first in the country to be closed.
The walk-ins clinic is the first dental office in the UK to refuse bitcoin payments, the dentist told the BBC.
The London practice’s owner, Richard Houghton, said he was not accepting bitcoin payments because it was too volatile.
“Bitcoin is not an investment vehicle for me, it’s not something that I would put my money into,” Mr Houghson told the Today programme.
“But the fact that people are getting this money, they’re getting the service that they deserve, and it’s so much better for them than a traditional bank account.”
He added: “I’m not going to be accepting payment from it, I don’t see any point in that.”
The dentist added that he was also not going for a fee.
“I think the cost of doing business in the business world is going to increase and increase as more people use bitcoin.”
You’ve got to be careful with it.
“Mr Houghston said he had contacted the London council about the matter and that the council was still discussing the matter.”
We have got a very small staff here, and we are not going into business with a cashless payment system, we are going into a Bitcoin payment system,” he said.
The dentist’s decision to keep the practice closed comes amid a debate over whether or not people should accept payments in the cryptocurrency.
In March, the head of the National Association of Health Practitioners said he would no longer accept payments using the currency.”
The bitcoin market is very volatile, so I think there’s an issue with the value of the currency,” Richard Hargreaves told the ABC.”
So there is a significant risk that the value may be volatile and then it’s a loss of income.
“However, Mr Hargretons stance is not shared by all dental surgeons in the region.
Dr John Stobart, who runs the National Health Service in the Midlands, said the dental profession should be concerned about the risks of accepting bitcoin.
He said he believed a cash-based payment system was not appropriate.”
It’s not a safe way to pay people, but it is the safest way to accept payment,” Dr Stobarts spokesman said.”
In my view, I think it’s going to cause a problem for the profession.
“Dr Stobbart said the NHS had not had any problems with bitcoin payments in recent years.
Topics:business-economics-and-finance,economics,bitcoin,internet-technology,cybercrime,law-crime-and-(theft-and/or-delinquency-proceedings-against-criminals-and-)offences,bitcoin-economy,digital-currency,business-group,cyberspace,technology-and_innovation,cryptocurrency,world-politics,london-2048First posted October 01, 2020 09:42:06Contact Richard HougtonEmail [email protected] stories from Australia