30 Apr '13, 11pm

It's All About the Bitcoin, Baby - New York Observer

It's All About the Bitcoin, Baby - New York Observer

EVR’s employees are still adjusting to the bar’s alternate payment system. (The Observer overheard at least one lithe brunette waitress asking Mr. Shrem to explain bitcoin to her.) Here’s how it works: when a patron wants to buy a drink with bitcoin, the bartender will present him or her with a tablet that’s running BitPay, a service that allows merchants to process bitcoin transactions. BitPay spits out a barcode that says how much the drink is worth in bitcoin, and then the customer uses his or her phone to scan the barcode, automatically deducting the amount from his or her bitcoin account. So far, Mr. Shrem said, the bar has done $20,000 worth of transactions in bitcoin, though he admitted the clientele hoping to use bitcoin is often “nerdy” and “start-uppy.”

Full article: http://observer.com/2013/04/its-all-about-the-bitcoin-baby/

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