How far have we come with bitcoin? Where can you spend it? Whatâs the situation on the ground today?
If there is anyone qualified to answer those questions, it might be Austin Craig, who has just spent 100 days abstaining from traditional currency and devoting himself to using only bitcoin.
He and Beccy Bingham-Craig, who were recently married, set out on a unique adventure that took them across three continents in pursuit of businesses that would accept bitcoin. They called it, âLife on Bitcoinâ.
âThe goal was to see what was possible with bitcoin,â says Austin on Skype from Provo, Utah, where he and Beccy live.
His conclusion? Anything is possible, but nothing is easy⦠Yet.
âEven the simplest things proved to be a challenge,â he says.
During their experiment, they travelled across the US before flying to Stockholm, Berlin and Singapore.
What the couple found is both dispiriting and hugely exciting. Bitcoiners abound, but the businesses set up to take their money are still few and far between.
âEverything you want is in New York city,â says Austin, as an example. âBut bitcoin-accepting businesses are still pretty scarce.â
In other words, the field is wide open.
Along the way they used a combination of charm, ingenuity and the help of a few businesses that could enable some of the trickier challenges they faced.
Bulgaria-based travel company Simply Travel accepts bitcoin and organised their hotels and flights, for example.
The couple had to educate people about bitcoin, so that they could pay them â the fact that they could email people money using Coinbase helped that process.
But despite a rapidly spreading awareness about the currency, more needs to be done to encourage uptake, says Austin:
âIf we want people to start using this, if my parents are going to use this some day, weâre not just going to have to give them directions, weâre going to have to build the road, pave it, put up welcome signs and line the place with shops.â
As well as being a personal journey, the couple set out to make a documentary called âLife on Bitcoinâ, raising just over $70,000 (£43,500) on Kickstarter.
They have accumulated over 200 hours of footage so far. When the production team have finished processing that footage, there will be more filming, interviews and exploration beyond what Austin and Beccy directly experienced.
âWe want this to be a documentary that covers bitcoin as a global movement,â says Austin. âWe want this to be the story of bitcoin.â
He describes the documentary as a âTrojan horseâ â it is ostensibly about the adventures of a newly-wedded couple from Utah, but really at itâs heart an exploration of a new phenomenon that promises to shape the 21 century.
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Back in Utah, Austin says itâs a âreliefâ to be using regular currency again. Living solely on bitcoin, âthings became a lot more difficult, challenging, complicatedâ.
âIâm not sure what we did could have been done any sooner than when we did it,â he says. âIf we tried it a year ago Iâm not sure it would have been possible.â
Despite the difficulties, travelling with bitcoin on the brain gave the couple a unique experience of the places they visited.
âWe couldnât partake of the average tourist locations,â says Austin. âWe had to go where the [bitcoin] community was.â
Whatâs more, despite having to give their landlord a 10 percent premium on their rent to persuade him to take bitcoin, they probably spent less than if they had done the same journey on regular currency â they just had fewer opportunities to spend money.
Hopefully in future, travelling the world on bitcoin will be as mundane as travelling the world with travellerâs cheques, except as Austin and Beccy found, we wonât have to change our money.
âMaybe our kids will watch the documentary and be like âso what was the deal, you were living on money, what was challenging about that?ââ
Feature image: Life On Bitcoin