Aussies start paying for beers in Bitcoin

Aussies start paying for beers in Bitcoin

Summary: The Old Fitzroy is using a new way of paying for beers that is completely digital.

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The Old Fitzroy will become the first pub in Australia that will allow customers to buy their beers in Bitcoin.

The pub in Woolloomooloo, Sydney, will start accepting Bitcoin as a form of payment on September 29, with Bitcoin Sydney on hand to help new-timers to the crypto-currency.

The pub, which has been around since at least 1907, will use QR codes to handle transactions. With Bitcoin wallets able to be accessed via smartphones, customers simply scan the QR code and authorise the transaction in order to pay.

Beers should cost customers around 0.05 Bitcoins, around the equivalent of AU$7 at the current value of the currency.

"I am interested in Bitcoin because it is progressive," Fitzroy proprietor Garry Pasfield said in a statement.

"I know a lot of people will like the opportunity to steer away from the big banks, and [Bitcoin] will have a lot of legs if it can establish itself."

Bitcoin Sydney will also be at the event to assist customers in making transactions and provide an introduction and overview to the currency, as well as help those new to Bitcoin purchase their first coin.

Topics: Australia, E-Commerce

Michael Lee

About Michael Lee

A Sydney, Australia-based journalist, Michael Lee covers a gamut of news in the technology space including information security, state Government initiatives, and local startups.

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6 comments
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  • As a Melbournian,

    Im completely embarrassed by the actions of a few brainless yuppies.

    Hopefully this paying for beers with bitcoins caper will be outlawed soon.
    Funkmonkey
    • Verily, cast out this Bitcoin of Satan

      Funkmonkey: You want it outlawed because it embarrasses you? Wow.
      Thon Brocket
    • Bank shill?

      Why on earth would you want to OUTLAW something which does not concern, touch or influence you in any way? Does it hurt you that someone, somewhere, pays for a beer in a currency of his/her choice? The ONLY way it could potentially hurt you, is if you are an employee in one of the big banks. If that's the case - you can go f*ck yourself.
      a983078
  • Melbournian

    No - he is completely embarrassed because he is a Melbournian.
    Stuart21@...
  • I Have No Bot in This Fight, but...

    (For the sake of discouraging cruelty to animals, please start using this reference to ROBOT battles, rather than dog fighting.)

    Not being an Aussie, nor an employee of one of the big Yank banks, nor involved in Bitcoin: lighten up, Funkmonkey. From the little research I've done on Bitcoin, it depends upon the "crowd-cloud" backup model to verify that any given device currently holds an HONEST copy of its owner's current Bitcoin balance, by checking that it agrees with all the other Bitcoin holding devices. If a given user's storage device(s) lose the data, it must be backed up by getting the up-to-date hash total representing EVERYONE's current balances from another user's devices. Or is that user's Bitcoin balance just dishonored by the total Bitcoin community? The explanations of how the entire Bitcoin supply of the world is kept up to date were very confusing to me, a former mainframe programmer with a degree in electrical engineering.

    There is an inherent problem in accepting the electronic copying of a digital image as a way to transfer an item that CAN, technically, be duplicated, but MAY not be duplicated legally. The nearest analogy I can imagine is allowing anyone to print one dollar bills for personal use, but requiring every such bill have a serial number one higher than the last bill that ANYONE has printed so far. Electronic banking works because, for better or worse, there is a single authentication source: the banks' databases, backed up by the Federal Reserve (or its equivalent in other countries) database of every bank's Fed account balance; and THAT can be overridden by an angry customer who has a verifiable PAPER copy of a given transaction.

    I suspect that Bitcoin will suffer from the DISeconomy of scale when more users start to use it for other purposes, and it will either collapse or, to avoid chaos, be absorbed into some national banking system (or the inventor's primary server will become a de facto central bank). So Funkmonkey and others do not have to worry. It will be a fad for a while, like Esperanto, continue as a minority "cult" indefinitely, and be ignored by almost everyone else. I suspect the bar owner's experience will end by having a fortune in Bitcoin which he cannot use to buy beer from his wholesaler, pay the light bill, or pay the rent.

    Actually, I suspect it will end up more like Volapuk, with even fewer long term cultists than Esperanto.
    jallan32
  • Bitcoins eh?

    I thought u could only buy drugs with bitchcoin. Oh well, Winklevoss twins will be playing pitcher and catcher should this take off!!
    pearl_neck_lace_ass_furker