Amazing crypto news for all beer lovers, a craft brewery popular in the UK called BrewDog opened a bar in London that accepts the only bitcoin as a method of payment.
The brewery is known for operating a chain of drinking pubs around London and they now opened a new place for both crypto and beer lovers. The bar location is amazing and it overlooks the canal that links the old North and the South Docks that are mostly known for their role in trading.
The brewery says that the pricing of the beer will be based on the movements on the market. Before opening the brewery, Alan Grant and Glenn Burgess were entrepreneurs that created the Reserve BarStock Exchange which is a stock market for booze basically.
In their official statement, BrewDog says that this new bar will be the first of their bars to accept cryptocurrencies so customers can pay their drinks using bitcoin or bitcoin cash. The brewery advised the customers to bring their credit cards and their Equity Punk ID Card that works like a loyalty card so they can later redeem discounts at any other BrewDog bar.
The name of the new bar is Canary Wharf Bar and they will also run a bitcoin cash giveaway so the first 100 attendees will be given a Bitcoin Cash wallet which will be filled from £12 and £100.
Earlier this month, another nightclub opened in Bristol and hosted an event where customers were allowed to pay for their drinks using bitcoin.
This is a clear sign of cryptocurrencies gaining popularity and adoption among people and it’s expected that the adoption rate will only get higher.
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Financial Analyst Gary Shilling: Bitcoin Is Some Kind Of A Grand Ponzi Scheme
“There’s supposedly a limit on there, but where is it written in stone that can’t increase? And of course, the electricity that’s churned out by the miners trying to solve these algorithms is just extraordinary.”He dismissed bitcoin by calling it a black box which is a very complex investment model. Also, Shilling noted that he is very suspicious of many things that are clearly not transparent and said that it is not the best idea to invest in something if you don’t understand it. There are plenty of reasons why bitcoin fails as a currency such as not being a store of value, it’s also not a medium of exchange and it is still not accepted universally.
“All the requirements that you normally have for a currency, it just doesn’t have. The only legitimate use I can think of in bitcoin is off-the-books kinds of transactions, underworld transactions. I just don’t see a legitimate use. It is a game,’’ said Shilling.However, the younger generation of tech millionaires is extremely confident that bitcoin will eventually manage to toss aside all other currencies. Some of them even predict bitcoin to reach a price of $250,000.
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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