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From craze to crash bit calling the value of this digital currency plunging.
Dollars and value in less then two days off hackers.
Are to blame for most of that sell off last night the digital currencies major exchange -- blocks it's called.
Was hit by hackers now big -- recovering some of those losses.
Mount -- trading the digital currency now about 72 dollars so despite extreme volatility businesses still trying to cash in on this -- -- Ever is the name of the first establishment apparently in New York City to accept big -- -- real currency we are live now from the midtown Manhattan.
With two of the operating.
-- order we've got -- magic banner and we've got now that that banners coming out of my thanks for being list element.
Alex and -- and Charlie and what can you just telling how this works in your bar.
Well it's pretty simple we basically we have an -- on the tablet over here.
It's called big head and using that we're able -- a big -- but get the money in dollars almost instantaneously so we.
And current serious those in the fact that saw to it where it's pretty simple.
And -- you click done unit could come out become dependent you put in.
The order number and let's see now for argument sake let's say -- -- -- is 444.
I'm concerned and let's say you're buying.
Time dollar drinks let's say it cheapened you as the amount you -- bitcoin checked out.
That downloads -- virtual receive.
That converts the dollar amount into the term decline amount know that -- code.
Then if you own -- -- usually have bitcoin wallet that's on your phone.
So I don't take my -- quite wallet I can dance slim if you are good.
And it's just -- -- -- Archos here.
OK guys if I could just break in right now and point out.
I'm an old saying too much sugar for I -- I -- I mean isn't that far easier for me to take -- twenty dollar bill and buys something than it is to use all this app -- that jacket and all that.
Are we go along the -- here.
Well absolutely I disagree because.
First of all of privacy is really the main reason people use declines.
-- -- -- -- -- -- -- -- -- -- -- -- -- Absolutely it puts it if if you're going out you know till London leg getting wasted one night you don't necessarily want your wife -- -- your credit card -- world.
Because the perfect way to do it -- -- good.
-- -- -- -- -- And -- those cats but one thing I'm wondering but when -- looked up and -- -- -- -- -- a beer with bitcoin.
-- -- -- valuing the big point that 266.
Dollars from a few days ago -- 72 dollars which were you valuing that -- -- decided how much -- -- except for me to -- my beer.
You know currency risk really from our point of view because whether the value -- one dollar 266.
Still it converts it right way to cast for us and that's another advantage that we don't have to wait for credit card processing.
Two to three to four days.
-- -- -- The next -- -- -- our count but Ian Kaplan locate and what conversion rate it really helped out but he and at what conversion rate does it turning it created it bit.
It automatically converts it on the actual happens there.
Yet done right away it is somewhat the current -- in our as far as the hope you know big drop you just you just remember just three weeks ago before he got.
Mention all the speculation started.
It was at sixty so it's still really up for money used to be -- just in the last two weeks that's.
Been speculation -- last question for you I had sat out the last question how many people in your bar so far have used that point.
Both -- and a few days that we've and about a dozen isn't so far as how -- love getting out I'm sure more people use them then this thing maybe the run people have big coins and you know they've only been able to use them online so now -- -- a -- -- a place in the real world on 39 shoot where they.
-- all right and -- that's very cool and -- you're -- you guys are pioneers thank you very much for being with us he thanks for having -- effect.
Pioneers about hiding things from your wives that's.
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