First Bitcoin Bar in Sofia, Bulgaria looks Interesting

[dezoel]

These type of things do happen here and there in the world, there was a coffee shop somewhere too, and there was another bar at somewhere, I think it was Ireland, so it is not like this is the first one that happened and the "theme" type of places are quite common in the world.

I do not think that it would be all that profitable for the owners, don't get me wrong at the start everyone will want to go visit it at least once, but for a bar to run smoothly, you need some sort of regulars that keep coming in and drinking, and when you just have people who visit once and then leave, that's going to end up being a lot more important. I think that's going to end up being something that will matter a ton more and should be risky business.

[Faisal2202]

Look the beautiful stuffs people around the would are doing and building with Bitcoin, this bar definitely will be the first place I visit if i ever get the chance of traveling to Bulgaria, and I am actually motivated to build something like this in my area here in Nigeria when I make enough money to finance it.

The sign looks stunning even as a decorative piece, I am glad the icon of BTC is made that way. And no I am not from Bulgaria, And isn't crypto banned in Nigeria, because a member was sharing his story that he was stopped by the Nigerian police and was brutally forced to send them money even given death threats. (hmm isn't that member was you).

But I hope you will one day have enough money to start a restaurant, not a bar because I don't like bars, A restaurant is a better place, and I hope crypto will become legal in your country and in mine too. So we both could contribute to our local communities in terms of guiding them about BTC and blockchain technology.

[mindrust]

I wish they picked a different theme. These people are making themselves a target. I mean it is cool to have some “btc accepted” signs here and there but making the place a crypto bar? Especially when the lawmakers are going hard on crypto, that’s not a good move financially. The police won’t like it too. They’ll keep an extra eye on that place and that’ll spook the visitors. Can they even accept btc legally as a payment method in Bulgaria? If so, than at least it wasn’t for nothing completely.

[Upgrade00]

I went throught the tweet OP shared and the guy behind that Bitcoin bar confirmed that its of course possible to pay with BTC, LN included whihc is good option to have in the times like these when fees are high.

Sure I naturally assumed this, it will only make sense for a Bitcoin themed business to accept Bitcoin, lightening network is a plus. I was asking if it was solely Bitcoin or fiat payments were also accepted, and if any other crypto was accepted, I didn't see any information on that in the thread.

The concerns about a physical attack on customers are valid, but should not be used to deter businesses which wants to adopt Bitcoin. Indirectly potential customers will read the comments and refrain from patronizing such businesses, but still visit other luxury shops that suggest wealth with no reservations.

[Rikafip]

A few days ago we had a discussion about wearing clothes with the BTC logo and I think most people think it's a bad idea, and all those who think so would probably think twice before entering such a bar.

Yeah that's another thing I don't understand, people wanting to wear tshirts with bitcoin logo (I do have as I got it from my good irl friend, but I am only wearing it around the house)but by far the worse thing is having crypto themed licence plate. No better invite for a $5 wrench attack than that.

I was asking if it was solely Bitcoin or fiat payments were also accepted, and if any other crypto was accepted, I didn't see any information on that in the thread.

I doubt that you can open up a business and not accept the official currency, which in Bulgaria is Bulgarian Lev so that must be accepted too.

[Zlantann]

Look the beautiful stuffs people around the would are doing and building with Bitcoin, this bar definitely will be the first place I visit if i ever get the chance of traveling to Bulgaria, and I am actually motivated to build something like this in my area here in Nigeria when I make enough money to finance it.

Do we have forum users from sofia, Bulgaria here with us on the forum? Check this bar out.
And to the general forum users, isn't this a good business idea?

Great news from Bulgaria. The excitement in the faces of the people in the picture is encouraging. This will help in spreading the news of Bitcoin in that city. Many people see Bitcoin only as an investment but this bar will expose people to the fact that Bitcoin can be used to pay for goods and services.

Before you start such business in Nigeria you should ensure that there are customers who are willing to pay with Bitcoin. Nigeria has a large number of crypto users but these citizens mostly use it as investment and hedge against inflation. Many people don't use Bitcoin as a payment option in most developing nations. I just hope the transaction fees of Bitcoin will reduced soon so that people will be able to use it for payments. But using the lightning Network will also be a good option to make transaction fees affordable.

[romero121]

Most of the bitcoin users have the mind to have a business with bitcoin theme, but very few go for it whereas the majority don't execute plans for different reasons. Most common reason being the fear, because very few countries have regulated the usage whereas the majority hadn't announced anything official. This means there'll be fear, as the  government might take action against them.

Often we were able to similar businesses popping out around different parts of the world. Most common business seen around with bitcoin themes were the cafe, food chain and bar. This is good, because it is the common place where people often have their meetups.

[taufik123]

Did they include information on what currencies are accepted for payment?

I went throught the tweet OP shared and the guy behind that Bitcoin bar confirmed that its of course possible to pay with BTC, LN included whihc is good option to have in the times like these when fees are high.

Of course, it uses LN Bitcoin payments, and it is the best option for time efficiency and cheap costs.
He also embedded a payment video using a DIY ATM Sats machine that will convert Fiat Coins to BTC quickly.


It is remarkable when Bitcoin is allowed for real transactions.
In my country, this kind of payment is illegal and violates payment laws.

[Z-tight]

I can't say how good a business idea such a bar is, but I can agree with @Rikafip that it's not a good idea when it comes to the privacy of anyone visiting such places.

I don't see a problem with patronizing such businesses, except the person goes there and starts bragging about the million dollar worth of BTC in their hardware wallet at home, or if they pay with an address that stores majority of their funds running into hundreds of thousands or millions.

The privacy risk is the same as walking into any bar, everyone can tell you walked in, but they don't know what you own, except you give that info away. You can be robbed or traced back home right after coming out of a bar thar accepts only fiat. I feel if you do what's right and don't do too much, you can have a beer and pay with BTC without any problems.

[TimeTeller]

Most of the bitcoin users have the mind to have a business with bitcoin theme, but very few go for it whereas the majority don't execute plans for different reasons. Most common reason being the fear, because very few countries have regulated the usage whereas the majority hadn't announced anything official. This means there'll be fear, as the  government might take action against them.

Often we were able to similar businesses popping out around different parts of the world. Most common business seen around with bitcoin themes were the cafe, food chain and bar. This is good, because it is the common place where people often have their meetups.

Definitely, these people already did their homework and I think Bulgaria is one of the countries that are open to this market.
As they have large stacks of bitcoin as seized way back in 2017, I have the feeling that they will be more welcoming to btc.

https://www.nasdaq.com/articles/a-seized-bitcoin-stack-could-be-bulgarias-golden-ticket

So no surprise if more and more Bulgarians will be setting-up their crypto-related businesses in their country.
In which of course, it will contribute to further adoption of crypto in their area. If people will find it convenient, they will surely recommend it to others.

[yhiaali3]

These beautiful pictures will delight all Bitcoin lovers around the world. Everyone is looking forward to that day when everything in our lives becomes related to Bitcoin and proceeds in a normal and legal way without any problems from governments.

Such lovely things encourage everyone to take the initiative to do similar things in their countries around the world, if this does not expose them to danger, of course, because it is difficult to do so in countries that ban Bitcoin or consider its possession a crime punishable by law.

In any case, a very nice initiative, thank you for participating and posting the pictures.

[Natsuu]

This is great. The happening of a Bitcoin bar in Bulgaria reflects the growing acceptance and integration of cryptocurrencies into mainstream businesses. It'll be interesting to see how this trend evolves globally but Im thinkin how it will happen in my country.

[davis196]

Such business model has it's pros and cons. A bar or restaurant trying to cover a certain niche instead of being generic and ordinary definitely helps for marketing. However, there are several problems with being open about supporting Bitcoin/crypto.
For example, who would want to buy a drink with BTC, knowing that the Bitcoin price might hit another ATH after several days(or weeks).
What if there aren't enough Bitcoin supporters in the area? Most crypto enthusiasts don't want to brag about being crypto supporters and having BTC or altcoins.
It will be really interesting for me to see how this bar is doing to survive financially in the upcoming few months.

[Victorik]

This looks very beautiful and appealing, but my question: Is it that the bar is a Bitcoin themed bar or that the bar accept Bitcoin payment?

Anyways it is good for the awareness of Bitcoin and I love what the people in Sofia have been able to achieve.

[eightdots]

The very first bitcoin bar was opened in Sofia, Bulgaria less than 24 hours ago, or a little farther than 24 hours ago actually, from the pictures posted on Twitter, all looks very interesting to be honest, i could see real deep love for bitcoin in the faces of those in pictures..

Here are some of them.

Bitcoin theme looks really cool. It's obvious that people love Bitcoin. If there was such a cafe or bar near where I lived, I would definitely visit it. It would also be easier to describe the address to my friends

I would like to see places like this all over the world. There are the same brands all over the world, there is nothing different. Bitcoin theme is compatible with many things. I'm sure themes like this will be a hit where I live. Because there are a lot of young generations and people interested in Bitcoin.

[Ojima-ojo]

This looks very beautiful and appealing, but my question: Is it that the bar is a Bitcoin themed bar or that the bar accept Bitcoin payment?

Anyways it is good for the awareness of Bitcoin and I love what the people in Sofia have been able to achieve.

According to the tweet, which you can find the link in the op, it is not just a bitcoin themed bar, they actually accept bitcoin payment as well as payment through bitcoin lightening network as well, you can check the comment above yours, or better still, check the tweet on X  and confirm for yourself.

I also love this honestly, bitcoin have won a lot of hearts to itself, I am always happy and proud to be a bitcoiner every time I come across developments like this one op shared here.

[aoluain]

Did they include information on what currencies are accepted for payment?

I went throught the tweet OP shared and the guy behind that Bitcoin bar confirmed that its of course possible to pay with BTC, LN included whihc is good option to have in the times like these when fees are high.

While I like the motif and design of the business since we're all good for Bitcoin. But for me personally, I wouldn't go there. Someone who comes there might give the bad people the idea that you are truly into Bitcoin.

My thought exactly when I saw this. I mean it looks cool and everything, kudos for the effort but by visiting it you are putting yourself to unecessary risk via $5 wrench attack.

Yea I wouldnt go there myself either out of concerns for my security but I'm sure the bar isnt for
Bitcoiners only and that other people would visit to have a drink and check out the place because
of it being different.... isnt that what we do generally?

I know in my country we might go once, check it out and might not go again depending on the vibe we get.

[Despairo]

Criminal rate in this bar *stonks.

I imagine what if there's an innocent who doesn't even have Bitcoin going to this bar and he become a target of $5 wrench attack, the criminal will not believe if this guy is really don't have any Bitcoin lol. The criminal might kill him since they think he's lying in order to protect his coins, so it's really dangerous to any person.

[LesterD]

Criminal rate in this bar *stonks.

I imagine what if there's an innocent who doesn't even have Bitcoin going to this bar and he become a target of $5 wrench attack, the criminal will not believe if this guy is really don't have any Bitcoin lol. The criminal might kill him since they think he's lying in order to protect his coins, so it's really dangerous to any person.

Maybe we are thinking too much about the risk of the bar. Just like any other bar, this Butcoin Bar surely has their security to take care of the customers. If ever some customer goes in even without a Bitcoin, that won't be a problem as the Bitcoin was only an additional thing added on the usual bar. The Bitcoin bar serves drinks which is the main reason for people going to a bar.

[Lucius]

~snip~
Can they even accept btc legally as a payment method in Bulgaria? If so, than at least it wasn’t for nothing completely.

Bulgaria is one of the EU members, and as far as I know, none of the EU members prohibits the use of Bitcoin as a currency, moreover, in some countries you can pay practically everything you want with BTC, and also some countries have 0% tax with some special conditions (if you sell BTC one or two years after purchase).

I can't say how good a business idea such a bar is, but I can agree with @Rikafip that it's not a good idea when it comes to the privacy of anyone visiting such places.

I don't see a problem with patronizing such businesses, except the person goes there and starts bragging about the million dollar worth of BTC in their hardware wallet at home, or if they pay with an address that stores majority of their funds running into hundreds of thousands or millions.

The privacy risk is the same as walking into any bar, everyone can tell you walked in, but they don't know what you own, except you give that info away. You can be robbed or traced back home right after coming out of a bar thar accepts only fiat. I feel if you do what's right and don't do too much, you can have a beer and pay with BTC without any problems.

I would not agree that the risk of entering a Bitcoin cafe is the same as a normal one, because I think it is much easier to "convince" someone to hand you a piece of paper with a seed, than to rob their bank account. In addition, people go to such places to have fun and relax, and this includes drinking alcohol, maybe even drugs - and under such influences, people often say what they would not otherwise say.