(The group meets again this Wednesday at Bad Decisions.)ĭevor is an avid user of Bitcoins. “The way that it spreads is that it starts in little communities. Local communities start to use it and then it becomes a real thing,” said Federal Hill resident John Devor, organizer of the new Bitcoin Baltimore Meetup that held its inaugural meeting last Wednesday. Photo from Flickr user antanacoins under Creative Commons for Attribution. Reusing’s decision to start accepting Bitcoins mimics that of other businesses in the U.S. One enterprising - eccentric, perhaps - couple recently globe-trotted using only Bitcoins to pay their way. “I’m pretty much going to turn them back into cash once I get them.”Īnd under no circumstances will anyone be allowed to break a Bitcoin at Bad Decisions for U.S.
“I know there’s some risk involved, but I don’t really plan on holding them and speculating with them,” Reusing said.
For a moment, then, consider the tab a person would need to run up at Bad Decisions to spend 1 Bitcoin.) dollar conversation rate was 1 Bitcoin for roughly $883. Instead, the money is held within the network of computers worldwide that mines Bitcoins and processes transactions, as explains.īitcoins were in the news late last week, when their value fell from roughly 1,200 U.S. Fees for transferring Bitcoins between persons are virtually nonexistent, mainly because no person or central entity (a bank or institution) controls the currency.
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The currency itself is created online by “miners” - people using software to solve a mathematical formula to “discover” Bitcoins - and then held electronically in digital wallets.
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While Reusing’s bartenders shouldn’t have much trouble processing Bitcoin transactions - he has a QR code for those tending bar to transfer Bitcoin payments from patrons to Bad Decisions’ online Bitcoin wallet - the virtual cash is slightly more complex than a QR code. Reusing, who was the first bar owner to use the service BeerGivr, the startup that facilitates drink purchases via QR codes, said that Bad Decisions is the first brick-and-mortar business in the city limits to accept Bitcoins.
“I’ve been toying with the idea for a couple of weeks,” said Bad Decisions owner John Reusing, who announced he was accepting Bitcoins in a post on reddit. “My bar is kind of nerdy, and we’re kind of on the forefront of the new social media stuff,” he added. At Bad Decisions bar in Fells Point, patrons can now pay for their alcohol using the open-source, decentralized digital cash created in 2009. The virtual currency Bitcoin has already been used to buy pizza, a Tesla Model S and narcotics via the Silk Road online drug market.Īdd beer to the list.
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