Tag Archives: Merchant

bitcoin_pizza

Several of my fellow Bit-lievers and I have been recently talking about Bitcoin inflection point and if our favorite money has reached it yet.  Can Bitcoin still fail?  Can the powers that be squash it out of existence? While there are arguments on both sides, my friend Raj told us a story that he described as the moment he realized that Bitcoins have crossed the inflection point.

A mutual friend of our was recently out getting some pizza after what I can only imagine was a long evening of coding and/or partying.  While waiting for his pizza, he realized that he’d either lost or left his wallet at home. Fortunately he did have his smart phone.  Luckily for him this was a small, family run pizza shop.  Also luckily, the owner was working.  Our friend approached the owner and offered to either run home and get money, or give the guy some Bitcoins for the pizza. He half expected the owner to ask what the hell is a Bitcoin, but was pleasantly surprised when the owner said he would be happy to take Bitcoins and that he had a wallet.  There was no “We Accept Bitcoins” sign in the window, no fancy Bitcoin card reader, just two people with Bitcoin wallets.

While not near the level of paying for a pizza with 10,000 Bitcoins, my friend’s story shows just how quickly Bitcoins can become a viable option for merchant payments. Pundits often talk about the requirement for merchant adoption to make Bitcoins real money.  The real story is that anyone, anywhere, with a smart phone or computer or tablet can accept Bitcoins in a minute, for pizza or whatever else you might need after a late night of coding.