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Keystone Cinema Grill in Keystone, Florida, is one of the largest and most popular movie theatres in the United States.
The restaurant, which has been open for over a year, started accepting bitcoin payments in August 2016.
In September, the restaurant began accepting bitcoin.
“We have had our bitcoin acceptance in place for a few months now,” a Keystone spokesperson told CoinDesk.
“So it’s just a matter of time before they start accepting it as well.”
According to the spokesperson, the chain’s bitcoin acceptance is more than 50% of the restaurant’s daily revenue.
“Our goal is to keep the prices low and to stay relevant in a market that is saturated with other movie theaters,” the spokesperson added.
The chain has been accepting bitcoin since November, when it launched its first bitcoin payment, which was made via bitcoin.
At the time, the spokesperson said, the company was also accepting payment via the “Litecoin” cryptocurrency.
Now that the chain has implemented bitcoin payment options, it is also accepting the digital currency as payment for other items at the chain.
The spokesperson said that the restaurant has also seen a lot of interest in bitcoin, with a significant number of patrons taking advantage of its use.
“A lot of people are now taking advantage in the restaurant, because it’s such a popular restaurant,” the Keystone representative added.
“People are making purchases on the internet with bitcoins and using them to buy things like beer and food.
They’re doing it all on their phones, and people are making their purchases using bitcoin.”
A recent bitcoin sale in the chain, where the chain sold a single bitcoin for $3, was the first to use bitcoin as payment, the Keystones spokesperson said.
In fact, the franchise owner said that customers are purchasing bitcoins on average every six to nine months.
In the first six months of 2017, the bitcoin transaction rate was approximately 0.2% per transaction, according to the representative.
“I would imagine, with our regular bitcoin usage, it’s likely we’ll see more and more people accepting bitcoin at the restaurant,” he said.
Keystone has had bitcoin in the bank since May, when the chain began accepting the currency in-store.
“It’s been a big success,” the company’s spokesperson said of the bitcoin transactions.
“Over the last six months, our bitcoin usage has been growing significantly, and it’s growing in a way that has no parallel in the industry.”
Keystone’s bitcoin sales have been driven in large part by bitcoin’s popularity as a payment option for moviegoers.
“The first thing that happened was we were able to get a big number of customers that had been watching movies online to come to the restaurant and spend bitcoin,” the chain representative added, noting that the amount of customers spending bitcoin at Keystone increased by more than 60% over the course of the first year of the chain accepting bitcoin in-house.
“This has been a huge success for us.”
A key challenge for the chain is that the bitcoin payment system is not designed to accept large transactions at once.
“You’re always having to wait for the next bitcoin transaction to complete,” the restaurant spokesperson added, adding that the company is working on a solution that will allow the chain to pay its customers for purchases within a few hours of a transaction being completed.
The bitcoin payment option is a big win for Keystone in a country where the majority of transactions are done online.
The Keystones’ Bitcoin Acceptance Program, which allows customers to purchase food and beverages from the chain for bitcoin, has been in operation since July 2016.
At that time, it was only possible to accept payments in bitcoin for meals.
The first time a customer made a bitcoin payment in-person was on June 7, 2017.
In November, the outlet started accepting payments in Bitcoin.
According to a spokesperson for the Keystrokes, the amount paid for a single meal at the outlet has averaged about $20 since that time.
“Most of our customers are going online, buying groceries, and we’re seeing huge growth in the bitcoin market,” the representative added of the fast-growing bitcoin payment market.
Keystroke currently operates in 20 states and has over 1,200 employees.
The outlet’s bitcoin transactions are processed on behalf of the company through its company-operated bitcoin wallet.
According the company, it has seen a 30% increase in the number of people that have signed up for the bitcoin wallet, as well as a 25% increase on its overall transaction volume.
“Bitcoin is growing faster than we can handle it,” the official explained.
“There’s just not enough capacity to process every single transaction.”
A spokesperson for Keystroks said that, while the company has not seen a dramatic increase in bitcoin usage over the past year, it believes that “the growth in adoption is a reflection of consumers becoming more aware of the benefits of bitcoin.” Keystro