48 Hours on Bitcoin in the Netherlands

Even though Arnhem Bitcoin City in the Netherlands is called the world’s most bitcoin-friendly city, many people wonder if it is possible to live on only bitcoin for an extended period of time in Arnhem.

We will write a custom essay sample on

Living On Bitcoin In The Netherlands specifically for you

for only $13.90/page

Order Now

The answer is yes.

"Arnhem Bitcoinstad," was founded when three Bitcoin enthusiasts decided that they wanted the option to be able to spend digital currency bitcoins in their own town.

They took it as a serious mission and involved themselves in promotional activities. They convinced local bars and restaurant owners to take payments in bitcoin.

When the bitcoin city was opened on May 28th, only 15 places accepted crypto currencies.

More and more shop owners are impressed by bitcoin now and they have joined too. Today, anyone can purchase a great diversity of products and then pay with bitcoin in Arnhem.

The enthusiasts expect that bitcoin and the underlying blockchain technology will ultimately become an integral part of the locals’ daily life.

To make payments in bitcoins is only the first application the city offers. Many more applications will arise and bitcoin presentations will also be organized to explain the possibilities.

If a person wants to live completely on bitcoins during his 4 day trip in Arnhem, he would first have to find a hotel which accepts the digital currency.

At present, Hotel Modez is the only one that allows visitors to pay in bitcoins.

After the visitor makes commitment to pay in bitcoin, he cannot back out even if the price declines unexpectedly during his stay. The room rent would seem very expensive.

An increasing number of businesses and people in Arnhem city rely on bitcoin. It is important that bitcoin becomes widely accepted and used like cash and credit cards in order to survive as a functional currency.

As the retailers are accepting it because of the lower costs associated, consumers are convinced that using it easy.

Arnhem is a location where the concentration of merchants accepting bitcoin is comparatively higher than most parts of the world.

Because of the high availability and acceptability of bitcoin in Arnhem, testing if an individual can use bitcoin for daily activities while the enjoying him time would be easy in this location.

Today, around 45 businesses in the city accept bitcoin. Most of these are restaurants and markets but it also includes a hotel and a franchise grocery store.

Even though most people expect the bitcoin city to be a high-tech hub, it is very similar to typical European cities. The city has few churches, a central pedestrian area with a lot of shops and some antique Dutch windmills.

When a journalist tested the use of bitcoin in Arnhem, he was surprised that he was the first one to offer bitcoin payments in many stores.

Some business owners even took pictures with him and posted on their social networking sites. Many people who were witnesses to the event wanted to learn more.

It can be concluded that even though individuals can live on bitcoins in the city, it is not a common practice yet.