Central Texas Gun Works, a popular gun store in Austin, accepts bitcoin as payment for everything they sell. Safety training, tshirts, shooting courses, and firearms. They not only sell all your favorite guns for bitcoin and ship them anywhere in the country, but they also have a bitcoin ATM in their store. They were one of the first in the country to have one, and they are long-time sponsors of projects in the liberty movement such as John Bush’s “The Liberty Beat“.
One blog is reporting that yesterday Central Texas Gun Works had its bitcoin account frozen by processor BitPay.
For those who jump the gun to point out the risk of large scale buying of illicit firearms, Michael clarifies every paying customer will need to fill out Form 4473, a United States government form that must be submitted when a person purchases a firearm from an authorized dealer. The FBI is informed and background checks are run before the transaction is completed. The store, earlier turned down by BitPay because of concerns over its firearms sales, has now partnered with CoinVoice to process its payments.
While I’m glad owner Michael Cargill was able to find a replacement processor so quickly, but I am shaking my head wondering, “Why would BitPay stop serving Michael?” I’ve tweeted them, but no response yet.