A renowned bar and restaurant in Germany, Room 77 is reportedly the first of its kind that was accepting cryptocurrency as a payment option. However, now the establishment will be closing its doors to the public permanently. The founder of Room 77, Joerg Platzer, made a post on Reddit on October 18th, 2020. He disclosed in the post that the first-ever brick-and-mortar enterprise that had begun to accept Bitcoin was permanently shutting its doors and would no longer be accepting customers. The goodbye message that was posted by the owner was loaded with references to The Hitchhiker’s Guide to the Galaxy, written by Douglas Adams.
He thanked his customers for the generous tips and said that they had occupied the joint in Kreuzberg, Berlin for the last 15 years. Platzer said that he had made a lot of friends during this time and had fun as well. He also said that it wasn’t possible to stop the force that was Bitcoin and went as far ahead as to say that it is only a matter of time that economic equality for humanity would be established, which would make wars unfeasible. Referred to as the ‘Restaurant at the end of Capitalism’ Room 77 was located within the German capital, Berlin in the Kreuzberg district.
As per reports, it was the first brick and mortar location in the entire world to start accepting Bitcoin as a method of payment. Platzer revealed that the first Bitcoin payment he had received was back in May of 2011 for a pint of beer. At that time, Bitcoin was only valued at a little above 1 US dollar. This means that the mysterious customer had spent a little more than one Bitcoin back in 2011 for beer worth $4.10. As of now, this purchase comes off as a rather insane one, considering that one Bitcoin is now valued at a whopping $11,400.
Phil Lucsok, one of the patrons of the bar, shared his own experience of spending cryptocurrency for the first time in the real world. He claimed that he had just wanted to spend Bitcoin when he got his hands on it and had stumbled to the bar back in 2013. According to him, he had only ordered a coffee because he wasn’t in the mood for any food or beer. He just wanted to have a little bit of fun by spending a decentralized currency for the first time ever.
While Platzer did not provide details about why the bar is shutting down, former patrons have assumed that it is because of the social distancing restrictions that have been imposed due to the coronavirus pandemic. Only a week ago, German authorities made it mandatory for bars in Berlin to close between 23:00 and 06:00. Moreover, the gatherings in the bar have also been restricted to less than 25 people in one go. Even though the ban has now been lifted, businesses all over the world have seen a hug drop in revenue with tourism going down and people staying in.