Tooting is a district in southern London, about half an hour by "tube" from the city center. It is home to two historic markets, one being Tooting Market, established 1930. In the 2010s this market developed into a hip gathering place, hosting craft beer bars, street food stalls from around the world, arts & crafts shops, antiquities and events. Last year, an initiative of local Bitcoiners has turned the market into a hot spot for the Bitcoin community. A significant but ever changing number of stalls accept Lightning payments.
🌯I start the day with lunch at Olives and Meze, which serves high quality middle eastern wraps and skewers. The shop is using BTCPay, with Swiss Bitcoin Pay as a payment processor. I meet Hashley, one of the driving forces behind the push for Bitcoin in Tooting. I learn that almost all merchants keep the Bitcoin they earn, but that merchant turnover in the market is high. We also talk to some new merchants setting up shop. The prime concern is not volatility, taxation or fees, but the lack of integration with accounting and inventory systems.
🫔I'm still hungry, so I head to a small Caribbean stall selling pasties. He's not enthusiastic about me asking for Bitcoin, but is willing to pull out his phone, pull up Wallet of Satoshi and invoice me. He likes the idea of Bitcoin, but says he doesn't understand how any of it works, and he would like to see more promotion for Bitcoin payments around the market. He tells me that few people even know the market has vendors accepting Bitcoin, and is worried people might miss his stall.
🎁There's a little arts shop, and I inquire about Bitcoin payments, but am told they don't accept it anymore. Hashley explains that Bitcoiners wouldn't typically seek out these kinds of places. The bars and street food stalls are most popular, and he is worried there may already be too many shops accepting Bitcoin at the market, given the small amount of people paying with sats. It's hard to communicate the value of accepting Bitcoin when Bitcoiners don't use it, and it's also hard to explain that those paying with card or cash might nonetheless not show up at the stalls if it wasn't for Bitcoin.
🍊I head over to the Juice Bar. The owner recommends the "Tropical," which is far more delicious than I had expected. When I ask about Bitcoin payments, he clarifies that I need a Lightning wallet, although later he shows me a BTCPay QR code including both an onchain address as well as a Lightning invoice. I pay over the Lightning Network and I'm asked about my price predictions for 2025. Up only!
🍻I wander around and find myself back at the center of the market at Boom Bap Burgers. I buy a beer and again pay to Swiss Bitcoin Pay's node via the familiar BTCPay interface. There is another bar at the market accepting Bitcoin, but it is not open right now. A third bar is interested, but hasn't made the switch yet and the local community isn't eager to pressure them, as there may not be enough Bitcoin customers for all three bars. A fourth bar however is vehemently against the idea of accepting Bitcoin.
🫒There's a small Shwarma shop by the entrance with a Bitcoin sticker. I ask about a snack and paying with Bitcoin, but am told they no longer accept it. Generally signage at the market could be a bit better, as signs are not always present, up to date, or faded. BTCMap is updated regularly, though.
📀There are a few more shops that I would have liked to visit, but they are either temporarily closed, permanently moved or I simply cannot find them. The market is in constant flux and unless you come daily, no two visits will be the same.
🍝I visit Rosmarino Ristorante for dinner, a small Italian restaurant a bit north of the market. The food is good, but when it comes to paying I'm told that the boss isn't there, and therefor Bitcoin payments are not accepted. This is a common theme, not just in Tooting. Bitcoin payments are hard to integrate into the existing business flow, account and inventory systems. The cost of training staff is perceived to be high, and the trouble not worth it.
I will definitely visit Tooting Market again when I get the chance. I wish such an initiative existed around me, it seems well worth engaging with the community around me, and frankly, I like the atmosphere and the food. On today's sweet 16th anniversary, I believe Bitcoin is now old enough to be able to be introduced to the world. I believe we are entering an "open beta" phase in which we should bring Bitcoin out into existing communities, test our software, narratives and find out how Bitcoin can add value to the people and businesses around us.