Buying pizza with bitcoin
After watching my bitcoin lose money for a couple months, I decided to eat some of my losses. Literally.
I found a site called PizzaForCoins.com. It allows people to order pizza from companies like Papa John's, Domino's and Pizza Hut using bitcoins, says co-founder Riley Alexander. The company generally receives at least one order per day and sometimes as many as 20.
Everything on the PizzaForCoins site is listed in bitcoins. Two medium, two-topping pizzas cost 0.035 bitcoin. Making the pizzas pan-style costs an additional tenth of a bitcoin.
After I ordered six pizzas, the site gave a bitcoin address where I could pay. I put in the address and transferred 0.112 bitcoin, or the equivalent of $49.31.
Despite being connected to a high-tech innovation like bitcoin, the PizzaForCoins ordering process relies a lot on manual intervention.
Once I placed my order with PizzaForCoins, Alexander or his partner Matt Burkinshaw placed the order on Domino's website.
PizzaForCoins buys thousands of dollars in gift cards for Domino's, Pizza Hut and Papa John's, using them to order the pizza.
The company takes only a $1.95 fee per order. The same order on the Domino's website was $47.36 with taxes and delivery charge, or about the same as PizzaForCoins minus the bitcoin fee. But even with PizzaForCoins, you have to shell out some U.S. dollars to tip the delivery guy.