Can you live solely on Bitcoin?

Can you live solely on Bitcoin? Coinify Project Trys to Find Out

There is currently a special bitcoin project being conducted in Denmark. Coinify is teaming up with Danish journalist Elías Christian Lundström for their experiment; can someone live for a month only using Bitcoin?

Coinify is working toward mainstreaming Bitcoin. We believe in Bitcoin as a real, everyday currency that can be used by the general public. This meant that we had to create an audacious experiment to show the general public that using Bitcoin for your everyday purchases is possible.  One of our valiant colleagues, Jack Nikogosian, offered himself up to be our little “guinea pig” for this experiment.

bitcoin jack and coinify

This experiment will surely be fun for Mr. Nikogosian, but it will also give us very serious data concerning the practical usability of bitcoin. The problems that Nikogosian might encounter during his month-long experiment will shine a light on what needs to be rectified in order for bitcoin to be used by the general public as a daily currency.

Jack Nikogosian told Bitcoinist,

”I choose to volunteer for this month-long experiment because it hasn’t been done before in Denmark and it will be a great opportunity to see if Bitcoin can be used in such a way.  However in order to successfully complete this experiment, I will have to survive only using Bitcoin for everything and still carry on with my everyday life. I promise to find a way to show up at work, not to starve to death, and to manage to have fun as well. I consider this as my contribution for the Bitcoin community out there”.

So far Nikogosian is still using bitcoin in everyday life, but some obstacles are popping up. Nevertheless, there are always workarounds to these problems:

  • Public transportation and/or taxi rides to and from work: In Copenhagen there isn’t an option to pay with bitcoin if you want to use the public transportation. So Jack had to improvise and asked a colleague if he could come with him to work. Luckily, his colleague had a bitcoin wallet, so that problem was solved.
  • Food: Lunch and dinner were quite easy to get, using the dk website. The only problem was the lack of breakfast options. Nikogasian also used for finding out locations that accepted bitcoin in Copenhagen.
  • Visiting relatives and friends outside Copenhagen: This was a particular big problem that Jack encountered. Although the question regarding whether or not the Danish State Railways will accept bitcoin has been raised, the answer is apparently a firm “no.” However, this may change once the DSR does more research on Bitcoin.
  • Evening out: This was an excellent activity according to Nikogosian. He started a pub crawl at 8PM in the “Dubliner downtown.” The next stops were Toga Vinstue, The Jane, Bar7, café Guldhornene, Heidi’s Bier Bar, Musen and elephanten ApS, John’s hotdog deli, and Dupong.
  • Paying the bills: Everyone who lives alone or with a roommate knows that bills come in every month. Jack has successfully paid some of his bills using bitcoin.

This experiment seems to be going quite well thus far, as Nikogosian has been able to find a way to pay for his daily life using bitcoin. However, Jack has had to make some sacrifices, such as experiencing unwanted weight loss and not being able to frequent 7-eleven, one of his favorite convenience stores. Jack contacted 7-eleven and asked if they would consider accepting bitcoin. He hasn’t heard back from the company yet.

Do you think Jack will make it to the end of the month? Let us know in the comments below!

Sergio Schout

Sergio Schout

Serge, aka Sergio, has been travelling the world since he was 6. Thailand, India, Sri Lanka, Malaysia, Singapore, java, Sumatra, Bali, Japan, US, Entire European region, etc. are a couple examples of his travel destinations. He has been curious about different cultures and practices. This curiosity has led him to pursue a couple of university degrees. Serge has a couple master’s degrees from top European universities. While attending university, he wrote a lot of scientific papers concerning socio-economic and financial developments in the past and present. During his studies at university he offered his free time up to do volunteer work, along with some friends. They helped the homeless get back on their feet ( some of these "homeless" now have small companies of their own and Sergio has good connections with them). It was at during his studies at university, in 2009, when he first heard about "Bitcoin". Being a coin collector and economic expert, he was intrigued by it and is active in the Bitcoin and digital currency community ever since. He translated the Bitcoin comic from Spanish to English and he is also using his connections to get the comic into the Belgian and Dutch comic market, he is an official member of the Belgian Bitcoin Association and he is a freelance investigative journalist that has written under his own name as well as under a pseudonym for a multitude of news outlets. After graduating he was immediately hired by the university that he graduated from. After moving on from that research position he was hired by a famous European think-tank as a researcher. His hobbies are: dancing (from Argentine tango to Zouk), collecting coins and determining them, writing articles, translating, proof reading and doing scientific research. In 2014 Sergio and Jp combined their forces and created the crypto news outlet called Cryptoarticles. Sergio attended most of the European Crypto currency conferences, where he made a lot of connections and friends along the way.