As the Bitcoin revolution continues to grow after initial scepticism and fluctuations, will we North folk and South folk need to get ourselves a digital wallet in order to hit the high street this year?

Experts are predicting another bumper year for the digital currency Bitcoin and its digital transaction ledger technology, Blockchain. It seems that the time has finally come for the idea of cryptocurrencies to go mainstream and become even more of a genuine option for carrying out your day-to-day transactions – and some local businesses have been quick to jump on the Bitcoin bandwagon. Let’s take a look!

Bitcoin

Nobody gets me Bitcoins!” (CC BY-SA 2.0) by zcopley

Bitcoin Down The Pub

Individual Pubs Ltd. have adapted to be one of the first pub chains to accept Bitcoins and if you’re in Norwich, you can visit The White Lion pub in Oak Street to buy a pint of two with your digital wallet. The pub achieved a degree of fame back in 2012 when it was named the first Norfolk Camra Cider Pub of the Year, but is now making headlines for its payment options rather than its ciders/perries. The process is very simple for customers, as they simply order their food and drinks and request to pay via Bitcoin. The till on the bar will then display or print a QR code that you effortlessly scan with your smartphone Bitcoin wallet and once you’ve sent the required Bitcoins, the till confirms that the transaction has been completed. The pub checks the exchange rate twice daily at bitpay.com, so you can be sure that you know how much you’re paying each time.

Bitcoin Moves Off The Web

It is unusual for Bitcoins to be accepted as payment for your ale or larger, but there is a growing list of pubs and restaurants in the UK that accept Bitcoins. The list of physical companies and high street shops that are enthusiastically adopting Bitcoin payment options will continue to grow this year and also in Norwich, near the Airport, you’ll find Sash Window Preservation, who will fit your double glazing in exchange for Bitcoins. Yet generally Bitcoins have been traditionally used for activities on the web and online casinos were particularly keen to take advantage of the speed of payment and low transaction costs they provide. There are now online casinos such as bitcasino.io, that deal exclusively in the cryptocurrency, with players trying their luck at slots, casino games, and lotteries with the only currency being Bitcoins. It remains a currency that is more prevalent on the internet, with many e-commerce sites accepting Bitcoins, but now people are no longer talking about whether digital currencies will become the norm for us all, but when.

Bitcoin

bitcoin” (CC BY 2.0) by Sean MacEntee

For many of us, Bitcoin is something we’re aware of, but the impression is that we might have missed the boat on this one. It seems to be one of those things that was considered quite gimmicky when it first came about, but now we’re all kicking ourselves for not investing and being millionaires right now.

Yet it’s not be too late at all, as although you’ve missed the major opportunities to become filthy rich, there still might be time to invest and become considerably better off than you were. Nothing is certain, but as Bitcoin continues to appear in our local areas, it seems highly likely that were witnessing the spread of the currency of the future.