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At some point you might have heard digital currencies described as a “financial revolution.”
At some point you might have heard digitalcurrencies described as a “financial revolution.” This sounds like anintimidatingly swift overhaul of one giant system by an equally giant system.In a small town in Maryland, however, the Iron Rail Diner is proof of grassrootsefforts to kick-start this “revolution” when they beganaccepting dogecoin.
Why did the Iron Rail Diner, located in theblue-collar community of Mt. Savage, population 873, begin accepting Dogecoin? TerryLinn II, co-founder of the diner, said “The way I feel is that for us, it’s the same as a credit card but iteliminates a lot of the fees. I feel they will be valuable in a couple of yearsdown the road.”
Linn also believes that Dogecoin might appeal to locals because it is anofficial sponsor of NASCAR.
The diner attracted attention on the webafter cryptocurrency miner Tym Holwager, who grew up 20 minutes from Mt.Savage, noticed the “Dogecoins Accepted” sign in the window, snapped a pictureof it, and posted the photo on Reddit where it went viral. Linn said severalpeople have made the journey to the Iron Rail to spend their dogecoins.
Dogecoin user Jason Gorby of Morgantown,West Virginia, saw the Reddit post and hitched over to Mt Savage to make hisfirst in-person Dogecoin purchase. The Iron Rail Diner gives a key code tominers who scan their QR code to buy food. In order to convert the Dogecoinsinto cash, Linn would have to use a third-party service.What was Gorby able to pay for? For Ð32,000in Dogecoin, equivalent to US$20, Gorby bought a chopped steak with onions andmushrooms, a Big Chief hamburger with french fries and applesauce along with anappetizer of batter-fried mushrooms and two fountain Dr. Peppers. Holwager,meanwhile, used his tablet to have a pizza delivered to him for Ð13,000, orUS$8.
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