Bitcoin News: Russian Coffee Shop Now Accepts Bitcoin

In this Edition of Bitcoin News, we are bringing to you a very different stories that is really truly interesting. We could talk about the current price of bitcoin, but we sort of wanted to mix things up a bit.

 

Russian Coffee Shop Accepts Bitcoin

Have you ever dreamt of paying for your morning cup of Joe with the bitcoin in your piggy bank? I know I sure haven’t. Well, if you have, and you are a resident of the greater Moscow area, then you are in luck! One coffee shop in Moscow is one of the first in town to allow customers to use this form of payment for their espresso and croissants. Russian hasn’t yet defined the legal standing of Bitcoin or rules revolving around it within the country. Which is completely understandable. Bitcoin threatens everything that is traditional about the systems the governments of the world put in place.

Many governments from around the world have already decided that, if they outlaw bitcoin or any other cryptocurrency, they risk suppressing creative innovation. Which could result in them falling behind in this new technological race. In the meantime, Russia still battles with even the idea of an electronic currency. I would like to add that this is not a common occurrence in Russia. This particular coffee just so happens to be located in a bitcoin bank.

Timofei Kulikov, co-owner of the coffee shop within Sberbank’s headquarters said he started the bitcoin coffee exchange as an experiment after deciding it was too expensive to mine the bitcoin himself. He said it’s much easier to “sell for bitcoins something that people buy every day.” One bitcoin was worth $606.96 as of Monday (Sept. 26), enough for nearly 400 cups of coffee.

It’s ideas like this that get me excited about the future of bitcoin. I predict at some point you’ll be able to pay for pretty much anything you purchase with Bitcoin or any other electronic currencies out there. In the words of Wayne Szalinski, “The future is now.”

 

Bitcoin News: Conclusion

All in all, while Bitcoin is an incredible up and coming cryptocurrency, it’s still facing some challenges. Rightfully so, when you really think about it. Nothing like that has ever been introduced to the world. It’s something challenges of everything that we as a civilization have built. Check Our Reviews page for more insight into trusted companies. Check our site for other Financial Planning reviews. Its great place to become more knowledgeable about the world of finance, and will shed some light on some of the scams out there.