Wired.co.uk reports that Bitcoins’ acceptance is widening up and now in the UK, it is being accepted by a local pub. You have to read about a child delivery center accepting Bitcoins, a real estate company accepting them wholeheartedly, now it is big news for all pub goers in London. The Pembury Tavern in Hackney is first among the pubs that accept Bitcoins.
The newspaper reports that on 23 May this year, The Pembury Tavern in London became the first pub in the United Kingdom to accept Bitcoin payments. This has been later on followed by its sister pubs in Cambridge, Norwich and Peterborough.
According to Stephen Early, a former computer scientist at University of Cambridge and also founder and director of Individual Pubs, Bitcoins’ acceptance is towards his sympathy for the people as he wants customers to pay in the easy manner without any difficulty. This will definitely auger a bright future for Bitcoins, as this will be followed by the acceptance from the amusement parks.
Stephen Early does not seem to have any problem accepting Bitcoins as he opines that it is like accepting an American credit card. Like the currency conversion done in the case of credit cards, in Bitcoins’ case it is done by him. To determine the latest exchange rate of Bitcoins to pounds, Early uses bitcoincharts.com and collects data of the seven-day weighted average, adds an eight percent hedge in his favour as a way of offsetting potential fees in converting bitcoins.
He is hopeful that gradually Bitcoin will become more stable. His pubs have taken nearly £750 in Bitcoin payments in the past few weeks so far.