BLOG
A cafe in Sicily started accepting bitcoin in 2023, with owner Stefano receiving a handful of payments over the last two years, which had a significant educational impact on him.
Being early can be an advantage. But what if you are too early? The very first cafe in Sicily started to accept bitcoin and lightning payments via blink in 2023 – time to look at the results!
Stefano is the second generation owner of “Caffetteria Del Corso” in Pietraperzia.
Pietraperzia, a historic town nestled in the heart of Sicily, isn’t known by many people outside of the region. It’s not a prominent tourist spot like Palermo or Mount Etna, far from it. The town counts a few hundred tourists per year.
A hotspot for Lightning Network innovation? You’re at the wrong address.
Nonetheless, it’s a beautiful place to visit and enjoy local culture. Sip on your espresso and watch the local community banter about politics, sports and everything in between.
The town’s medieval heritage is evident in the imposing Castle of Pietraperzia. Walking through the ancient alleys reveals architectural gems and a palpable sense of history, teleporting your mind to a bygone era.
These days however, there is not much going. And that is an advantage when discussing bitcoin. In a rural village, there is not much buzz about technology, open source payments or altcoins. If a bitcoiner gets lots in town, he doesn’t have competition.
And while Sicilians might not be famous for being technology freaks, they do have an interest in the latest trends and developments.
Out of nowhere, back in 2023 a first pin appeared on the blink merchant map.
“Bitcoin & Lightning Accepted Here”
Stefano, the owner of a small cafe on the square has been the host of communal coffee reunions for many years. There are only a handful of cafes in town and customers come in waves, between 7am and 4pm keeping Stefano busy like a bee.
Besides serving “caffe” (espresso), cappuccino, and spritzes, he also sells the state lottery tickets and takes care of Amazon parcels.
Accepting bitcoin was a way to experiment with new technology. Everyone heard about it but nobody knows how to use it.
There was not much to lose, so Stefano was open to trying it and installed blink on his phone.
With the blink POS, it only took a few minutes and the first bitcoin payment was received. A day later and the cafe appeared on the map inside the blink app.
Stefano only received a handful of lightning payments over the last two years. The idea that bitcoin acceptance would spike revenue isn’t as important as the idea that bitcoin revenue is better than fiat revenue.
What really matters is; did he hold on to it?
As Samson Mow stated, it’s much better if merchants keep on to the bitcoin, or else they don’t see the economic effects of saving in scarce money.
“Unpopular Opinion: Your efforts to spend #Bitcoin are meaningless if the seller is just cashing out to dollars immediately. For your actions to have meaning, the seller needs to keep the Bitcoin, and ideally seek to understand it more.”
The few payments received may have had a profound educational impact. It exposed the volatility of bitcoin’s value in fiat money terms.
The first espresso sold for bitcoin back in 2023 earned Stefano 3460 Satoshis. Back then, the price for espresso was 1 euro. 3,460 Sats today are worth 3.32 Euro as the price of bitcoin went from 34,000 Euro to over 100,000.
That’s almost like he magically sold 3 espressos instead of one but two came without cost.
Stefano finished the lessons in the blink wallet and understands much more about monetary history and sound qualities of money.
This knowledge can be a critical in times of economic turmoil. The European Central Bank has announced it would have big plans for 2025 sounding more like a threat than positive affirmation, given the Euro has been a horrible store of value for Europeans.
When Stefano receives a payment in bitcoin, his phone shows a notification with the amount. That way he knows he’s been paid. There’s no need to give change since customers can simply send the right amount plus tip.
For Stefano it’s important to stay in touch with the young generation. His cafe was opened in 1978 by his father. “I was born in the cafe” he jokes and explains that his mother used an icecream freezer as a bed for him. Of course without being powered on.
Adoption takes time, especially where people are at a sweet spot of ‘not great but also not bad enough to change’. People live a simple but good life. Yet, with sound money it could be even better.
As the bitcoin price climbs to new heights, one local merchant in Pietraperzia has learned a crucial lesson; Bitcoin tends to appreciate in value whereas fiat money depreciates.
Stefano is the living proof that being open to new ideas and technologies is smart. And we’re still very early.
The first torch has been lit up and is still burning. Stefano believes keeping up with technology is important to not get left behind. It might take a while for bitcoin adoption to grow but the fact that Stefano is now accepting it, has given the locals a lot to talk about.
And that’s good for Bitcoin.
