Spokane Bar Now Accepting Bitcoins As Payment - Spokane, North Idaho News & Weather KHQ.com

Spokane Bar Now Accepting Bitcoins As Payment

Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction. Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction.
SPOKANE, Wash. -

If you're tech-savvy you probably know exactly what a bitcoin is and how it's used. But for the rest of us, suffice it to say bitcoins are a form of digital currency accepted online.

But now, you can pay your real-life tab with them.

Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction.

"You technically have your wallet in your brain," bartender Ash Hayden told KHQ's Kelsey Watts.

Assuming customers already are familiar with bitcoins and have a digital wallet, when you come in to Volstead Act you may as well leave your wallet at home. Your entire payment transaction is done on an iPad and your smart phone.

"All I do is hit send and it's instantly done, just like that," Hayden demonstrated.

But – as with any new technology – you need to do your research. Because the exchange rate fluctuates by the second and isn't regulated by any bank or government, bitcoin can bite you.

"You need to understand that it's speculative, that it's high risk," Hayden added.

However, Hayden believes it's a win-win. Volstead Act saves money on credit and debit transaction fees and doesn't have to wait a day or two for a bank to clear the money. He says it's a win for you, too, because you don't present a card that can be compromised by a skimmer or employee with less than honest intentions.

"If you give them your credit card, well anyone on staff can write down your information and go on a shopping spree the next day. That's happened to me before," he said.

If you need a little incentive to get into the digital game, Volstead Act will give you $1 off each cocktail you pay for with bitcoin. As of Monday afternoon, 1 bitcoin was worth more than $840 dollars.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Cheney teacher's Twitter thread on letting student sleep goes viral

    Cheney teacher's Twitter thread on letting student sleep goes viral

    Monday, May 21 2018 9:34 PM EDT2018-05-22 01:34:14 GMT

    CHENEY, Wash. - A Cheney High School English teacher let a student sleep in his class last week and the thread on Twitter describing the reason has gone viral.  Monte Syrie tweeted the reason he let the student, Meg, sleep in class last week and the thread caught the attention of many.  The thread reads in its entirety here: 

    >>

    CHENEY, Wash. - A Cheney High School English teacher let a student sleep in his class last week and the thread on Twitter describing the reason has gone viral.  Monte Syrie tweeted the reason he let the student, Meg, sleep in class last week and the thread caught the attention of many.  The thread reads in its entirety here: 

    >>
  • Friends remember Spokane man fatally stabbed

    Friends remember Spokane man fatally stabbed

    Tuesday, May 22 2018 2:05 AM EDT2018-05-22 06:05:55 GMT

    SPOKANE, Wash.- Friends and family are devastated and heartbroken over the death of 28-year-old Corey Ward, who was stabbed and slashed by a killer. Ward did not survive and so far, Spokane police haven't made any arrests. It happened on May 17 just before midnight in the 2400 block of West Cleveland in Northwest Spokane.

    >>

    SPOKANE, Wash.- Friends and family are devastated and heartbroken over the death of 28-year-old Corey Ward, who was stabbed and slashed by a killer. Ward did not survive and so far, Spokane police haven't made any arrests. It happened on May 17 just before midnight in the 2400 block of West Cleveland in Northwest Spokane.

    >>
  • Florida man climbs on playground equipment, tells kids where babies come from

    Florida man climbs on playground equipment, tells kids where babies come from

    Tuesday, May 22 2018 1:56 AM EDT2018-05-22 05:56:04 GMT

    CLEARWATER BEACH, Fla. - A 30-year-old Florida man was fined $118 and ordered to stay away from a park after police say the man climbed on playground equipment and yelled at children in the area about where babies come from. Otis Dawayne Ryan was taken into custody on a charge of disorderly conduct around 3 p.m. Sunday afternoon in Clearwater Beach, according to the Tampa Bay Times. 

    >>

    CLEARWATER BEACH, Fla. - A 30-year-old Florida man was fined $118 and ordered to stay away from a park after police say the man climbed on playground equipment and yelled at children in the area about where babies come from. Otis Dawayne Ryan was taken into custody on a charge of disorderly conduct around 3 p.m. Sunday afternoon in Clearwater Beach, according to the Tampa Bay Times. 

    >>
HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • Spokane business uses high-pitched beeping sound as loitering deterrent

    Spokane business uses high-pitched beeping sound as loitering deterrent

    Wednesday, May 23 2018 1:07 AM EDT2018-05-23 05:07:19 GMT

    SPOKANE, Wash. - If you're near 2nd and Division in downtown Spokane, you may hear something unpleasant. It's a high pitched beeping sound coming from the nearby 7-Eleven.  "It works great sometimes in crowd dispersal applications...the military's used it...so it is a useful tool," said Officer Josh Laiva of the Spokane Police Department.

    >>

    SPOKANE, Wash. - If you're near 2nd and Division in downtown Spokane, you may hear something unpleasant. It's a high pitched beeping sound coming from the nearby 7-Eleven.  "It works great sometimes in crowd dispersal applications...the military's used it...so it is a useful tool," said Officer Josh Laiva of the Spokane Police Department.

    >>
  • Philip Roth, fearless and celebrated author, dies at 85

    Philip Roth, fearless and celebrated author, dies at 85

    Wednesday, May 23 2018 12:04 AM EDT2018-05-23 04:04:19 GMT

    NEW YORK (AP) - Philip Roth, a prize-winning novelist and fearless narrator of sex, death, assimilation and fate, has died.    The celebrated and controversial author of "Portnoy's Complaint," ''The Counterlife" and other novels was 85. His death was confirmed by his literary agent, Andrew Wylie, who said Roth died Tuesday night of congestive heart failure.

    >>

    NEW YORK (AP) - Philip Roth, a prize-winning novelist and fearless narrator of sex, death, assimilation and fate, has died.    The celebrated and controversial author of "Portnoy's Complaint," ''The Counterlife" and other novels was 85. His death was confirmed by his literary agent, Andrew Wylie, who said Roth died Tuesday night of congestive heart failure.

    >>
  • ACLU: Amazon shouldn't sell face-recognition tech to police

    ACLU: Amazon shouldn't sell face-recognition tech to police

    Tuesday, May 22 2018 11:15 PM EDT2018-05-23 03:15:02 GMT

    SEATTLE (AP) - The American Civil Liberties Union and other privacy activists are asking Amazon to stop marketing a powerful facial recognition tool to police.    They say law enforcement agencies could use the technology to to easily build a system that would automate the identification and tracking of anyone.    The tool is called Rekognition.

    >>

    SEATTLE (AP) - The American Civil Liberties Union and other privacy activists are asking Amazon to stop marketing a powerful facial recognition tool to police.    They say law enforcement agencies could use the technology to to easily build a system that would automate the identification and tracking of anyone.    The tool is called Rekognition.

    >>