Owner didn't say a reason for closure, but many are speculating it is related with restrictions in Germany related to covid19.
What happened with first bars that accepted Gold, German marks or US dollars, I guess they are also probably closed
Topic: [2020-10-19]ROOM77 BAR closed in Berlin (Read 141 times)
This probably is not so much related only to Bitcoin but because of current worldwide pandemic, and that is not the only closed bar for sure.
Owner didn't say a reason for closure, but many are speculating it is related with restrictions in Germany related to covid19.
What happened with first bars that accepted Gold, German marks or US dollars, I guess they are also probably closed
Owner didn't say a reason for closure, but many are speculating it is related with restrictions in Germany related to covid19.
What happened with first bars that accepted Gold, German marks or US dollars, I guess they are also probably closed
Definitely know this place, and I fear a few others in Arnhem (Bitcoin City, Netherlands) might be looking down the same barrel. God knows already so many early businesses accepting Bitcoin eventually took it down or found it wasn't after all appropriate. Normal economic cycle, and perhaps not the saddest news when you see it's really not *because* of anything related to Bitcoin.
Btc not usable as cash
Businesses like this one who unfortunately closed down made it possible. Yes right now it may look like Bitcoin is more of an asset where you just hodl with but Bitcoin is made originally as a currency which can be a good alternative for cash. Bitcoin even if it is considerably old is still growing until now and I believe the more companies and businesses who will step in and accept Bitcoin the more people will eventually accept it as a another form of payment method. Right now custodial wallets are doing a good job on liquidating our Bitcoin easy so we have cash and some ways where we can directly use it on other businesses, so we are still growing and attracting more and more businesses.
But still, in this case, it's a bit weird, I'm pretty sure a crowdfunding campaign would have helped easily, so why did he choose to do so...
Judging by the post from Reddit, the owner believes that he has fulfilled his mission and that the first ten years were crucial (The Hitchhiker’s Guide to the Galaxy)
It is possible that the business is no longer profitable due to the pandemic, but also that the owner wants to dedicate himself to something else and believes that 10 years is enough to conclude this project. I may be wrong, but it doesn’t seem to me that the real reason is money, but either way some will miss this place for sure.More information and if anyone is interested in some interesting photos : https://azcoinnews.com/impact-of-covid-19-berlin-based-room-77-the-first-to-ever-accept-bitcoin-has-permanently-closed.html
Sad, but at one point it was inevitable that some crypto landmarks will feel the pain the economic shutdown is bringing on. There were hundreds of news about old English pubs struggling to survive even though they've been through a world war and managed to keep it open now it's a different story, and probably more and more will be affected. Unless the owner has an unlimited stash of cash and he can afford to pay rent and staff without making a dime, it was a normal outcome.
But still, in this case, it's a bit weird, I'm pretty sure a crowdfunding campaign would have helped easily, so why did he choose to do so...
But still, in this case, it's a bit weird, I'm pretty sure a crowdfunding campaign would have helped easily, so why did he choose to do so...
Btc not usable as cash
In Berlin the ROOM77 bar which accepted BTC for payment since 2011 closed. Entrepreneur Joerg Platzer closed the bar Room 77, he wrote on Reddit https://www.reddit.com/r/Bitcoin/comments/jdh3bl/room77_is_closing_for_good_we_think_our_mission/.
According to the owner, the first payment in BTC in Room 77 was made in 2011, Bitcoin Core developer Eric Lombroso always noted that his visit to Berlin would never have been complete without visiting Room 77:-"This place will always be a part of bitcoin history," he wrote https://twitter.com/eric_lombrozo/status/1317755057358602245 The owner does not name the reason for closing the bar, many attribute it to restrictions caused by Covid-19
According to the owner, the first payment in BTC in Room 77 was made in 2011, Bitcoin Core developer Eric Lombroso always noted that his visit to Berlin would never have been complete without visiting Room 77:-"This place will always be a part of bitcoin history," he wrote https://twitter.com/eric_lombrozo/status/1317755057358602245 The owner does not name the reason for closing the bar, many attribute it to restrictions caused by Covid-19
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