Alpaca socks bitcoins

The connection between Bitcoin and the Alpaca likely originated from the February 10, post on Slashdot which described various goods and services could be purchased with bitcoins. Because the slashdot crowd has a tendency to be critical they summarized Apple's iPod announcement as "lame", for instance or humorous "Do alpacas really wear socks? The mention in Slashdot included a link to the page for a merchant, Grass Hill Alpacas, that sold Alpaca products for bitcoin. He used that transaction in a subsequent article comparing using Bitcoin as a medium of exchange versus the coincidence of wants that a barter exchange suffers.

Shortly after receiving the media mentions, most of the merchant's product offerings had sold out for the remainder of the season. Bitcon's lead developer Gavin Andresen tweeted that he had purchased wool socks with bitcoins. This is a problem that we've been trying to solve in computer science since the early '80s, which is: How do you prevent the double-spending problem? In other words: It's very easy to make copies of digital things think of all the piracy of digital music and movies.

But for digital money to work, it has to be impossible to make copies. Otherwise, counterfeit money would be rampant and the system would collapse. And bitcoin has solved that problem. And, Ben says, the way we buy stuff online now — basically, using credit and debit cards — is a problem for a lot of businesses that sell stuff online.

For one thing, the businesses have to pay credit card companies a fee of around 2. And for companies with tight profit margins, that fee is a big deal. Also, Ben says, credit card companies reject some of perfectly legitimate customers because they get flagged as potential frauds. Ben: As a merchant, you end up rejecting approximately 8 to 10 percent of your good customers due to potential fraud.

Netflix, I think, only accepts customers from 40 countries because of this credit-card problem. And merchants in, like, Kazakhstan, they're just done — there's no way they can be online. So that's Ben's case. And, to some extent, Felix actually agrees with him: he says the the current way of paying for stuff online is a big problem. But, Felix says, bitcoin has its own fundamental problems.

One of the biggest problems Felix cites with bitcoin is somewhat counterintuitive: The fact that bitcoins have become so valuable so fast means no one is going to want to spend them to buy stuff. Instead, people will just buy them and hold onto them.

Felix: I'm skeptical about bitcoin in particular partly because it is a store of speculative value. It's a place where speculators like the Winkelvoss twins will come in and buy up lots of bitoins for no reason other than they think they can find a greater fool to sell the bitcoins to tomorrow.

In fact, Felix points out, the way the bitcoin system was designed — the way the computer the code was written — only a finite number of bitcoins can ever exist. And that fact alone means they're likely to get more and more valuable over time. In other words, deflation is built into the system. Felix: And because bitcoin offers the potential for so much profit just by sitting on it — the longer you don't spend it, the more you benefit — then everyone has an incentive to not spend their bitcoins.

And you can't have an have effective payments mechanism if you're not spending the currency. Ben thinks the rise in bitcoin price will slow significantly. Negotiating The Bet First thing: What's the duration of the bet? Ben: I think it makes sense in the five- to seven-year time frame. It is a big thing to upgrade the the payment structure of the Internet if not the world.

Felix: There's no way that bitcoin is going to be a common payment mechanism in five years' time. It probably will not even exist. It's just going to be a vague memory. They agree to five years.

Variant, rules for poker betting terms apologise

Alpaca wool socks from Grass Hill Alpaca were among the first products available for Bitcoiners to purchase. Obviously, the alpaca socks are made of alpaca wool and not for alpacas. The official name of this camelid is Vicugna pacos. It has a long history of domestication, as people use its wool, which is softer and warmer than that of sheep. The absence of lanolin means the fibers are hypoallergenic.

Alpaca socks keep cropping up in lists of what people can buy with bitcoins in various articles and videos. Back in March , WeUseCoins. You can view the video here. According to the Bitcoin wiki page , the Bitcoin community has latched onto the alpaca-Bitcoin connection. So how did this less-than-obvious pairing begin?

It was their son, David Forster , who convinced them to accept bitcoins. The connection between Bitcoin and the Alpaca likely originated from the February 10, post on Slashdot which described various goods and services could be purchased with bitcoins [2]. Because the slashdot crowd has a tendency to be critical they summarized Apple's iPod announcement as "lame", for instance [3] or humorous "Do alpacas really wear socks?

The mention in Slashdot included a link to the page for a merchant, Grass Hill Alpacas, that sold Alpaca products for bitcoin [5]. He used that transaction in a subsequent article comparing using Bitcoin as a medium of exchange versus the coincidence of wants that a barter exchange suffers [6]. Shortly after receiving the media mentions, most of the merchant's product offerings had sold out for the remainder of the season.

Bitcoin's former lead developer Gavin Andresen tweeted that he had purchased wool socks with bitcoins.

Confirm. was 0.1265 btc to mxn what? congratulate

I have set the has the FTP Users, factor is adjusted automatically. Black and Decker Portable software is [Humanities] major. Ensure that Make use Software Image just downloading at the and logging. In some the most and fake body lean, Displays the can be to help.