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Forbes: The Story Behind 'Milk Road,' The Bitcoin Cookie Stand

The Bitcoin cookie stand photo that traveled the world

Last month, a Bitcoin-loving Redditor spotted a cookie and lemonade stand in San Francisco’s Noe Valley that accepted the virtual currency. After buying a Snickerdoodle for a fraction of a Bitcoin, he snapped a photo asking the girls to say “cheese for the Internet.” That they did. Soon, the girls identified as Mia and Taylor in the photo, were featured in online articles around the world, including at least one erroneous one that claimed that the Girl Scouts were now accepting Bitcoin, because apparently some people think that ‘girls selling cookies’ always equates to ‘girl scouts.’

“My kids will never know the experience of waiting by a phone for someone to call them. They’ll never do that. They could not even conceive of a world without an iPhone or iPad,” Holly says. She speculates that the credit card and money system could be similarly transformed by new technologies like Bitcoin.

Holly says her 8-year-old and 5-year-old don’t fully grasp Bitcoin, and they certainly are not in on the “Silk Road/Milk Road” joke.
http://www.forbes.com/sites/kashmirhill/2014/02/03/the-story...
Milk Road cropped



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what a scam.

cookies have no intrinsic value.

Pandacentricism will be our downfall.

hahah .. Love it

.

Why physical currency will

Why physical currency will always trump digital currency, is for the simple fact that electricity is not permanent. It can always go away, whether it be a storm or accident or for some-other reason; technology is not a given to be expected to always work or to even be available.

Its not an either or proposition

Why do so many people assume that it is?

Barring zombie apocolypse, I

Barring zombie apocolypse, I think the internet is going to be around for a good long while. Honestly, even a giant solar flair is only going to take things down for a short time. Crypto currencies have the "intrinsic value" of making the banking sector utterly obsolete. They may accomplish ending the Fed. And if anyone thinks we'll ever win that particular battle throguh legislation, keep dreaming. Me? Ill be buying crypto currency and putting them out of business the free market way.

So as people are currently

So as people are currently experiencing power outages, and my area is expecting some outages for the next couple of days or so; and the sever power outage of 2003 as an example. What would these people do, if their only form of currency was digital. When the power goes out, there is no internet. Many things can cause a power outage and my previous comment listed a few, but you say something stupid such as "Barring the zombie apocalypse...." No body needs the zombie apocalypse to be without power for days, weeks, or in some cases Hurricane Sandy, Katrina, Rita, and the power outage of 2003, months; how are they to purchase anything with a digital currency in those situations. Zombie apocalypse my ass.

As far as your solar flare theory, if that were to happen there would be a serious problem. There are large transformers which take one year to manufacture, these transformers are on a three year waiting period and none of the US power companies have any of these transformers in stock. There have been US Senate hearing for many years now, on this very issue; about the vulnerability of the power grid. If you don't know about it then maybe you shouldn't talk about things which you do not understand.

None of you Bitconners have explained how other than person to person transactions, does using Bitcoin end the FED, since all of the major retailers have the Bitcoin go to a middle man who accepts Bitcoin and gives the retailer FRNs; this certainly isn't ending the FED, now is it?

If you buy anything from a major retailer with Bitcoin, then you aren't ending the FED. Also, if you think that Bitcoin is going to be worth so much in the future, then why would you want to part with it in the present?

You people(Bitconners) are just looking for the 'Bigger Fool,' so you can get out with a profit.

If you can survive a year without power

AND you manage to hang on to zip drives with your bitcoins on them ...

The blockchain will still be there in the exact state it was when the power went out, and it will pick right up where it was when the power comes back up.

At that point your bitcoin that you hung on to may easily be worth 100K.

If you don't understand what I just said here, than I'm sure you don't understand bitcoin yet.

(and yes, hypothetically if the power goes out for long enough many of us are dead anyway. So it matters at that point how?)

Yes, people have survived for

Yes, people have survived for a year without power; however that is not to say that they survived a year without money, like what would be the situation if their money was digital Bitcoin. Do you understand the difference; I'm not sure you do. I could buy some gas off of my neighbor for a $5 bill without electric or internet. However, this transaction could not happen if I was using Bitcoin and there was no power. Do you understand?

So why is this an either / or proposition

There is no law that says you have to have all of your money in metals.

OR all of your money in crypto-currencies.

In the real world people that own some of one often own some of the other.

I had all of the arguments you are making about crypto-currencies. I even posted about them here, just as you are, making the same arguments almost word for word.

I looked into it further - and once I learned more - I changed my mind. As soon as I did bought in a few months ago and have not regretted it:

I've already made my entire investment back and have plenty of profit left over.

Well I keep gold, silver &

Well I keep gold, silver & bitcoin. I think the idea that the internet is going to vanish is pretty far fetched, though if it does, food and amo are going to be "currency" much sooner than silver or gold will be.

When power goes out, people can't use credit cards either. Generally we just refrain from buying things online, and keep physical cash on hand for short-term disturbances in the power.

As for solar flares, we don't even fully understand how they work, let alone what they would do to our powergrid. What we have are theoretical models based on a gravity based system of cosmology which is being debunked. For example, we have now seen that solar flares can reach us massvily faster than we thought possible by the gravity based model, and that the particles actually accelerate as they move through space, suggesting that they are moving through an electric field, not that they are "projectiles" from an isolated fusion generator.

So, im not completly convinced our power could be knocked out for years by a mass coronal ejection, esspecially when current theory about exactly what those ejections are made up of has been turned on its head. So take some of your own medicine there. None of understand half of what we think we do. But if the power grid did go down, humans would adapt or die. As a species, we're pretty good at adapting. I stack precious metals food and amo for that possiblity, but plan for a future that is based online. If all we do is prepare for doomsday, our lives are going to be pretty lame. Its nice to have plans for a bright future as well as a dismal one. Bitcoin and other crypto currency are the plans im making for a bright future where we can actually do away with central banks.

As for how crypto currency is putting banks out of business its simple: I put my bitcoins on a smart drive and hide it. I don't need a bank to keep my money safe. Its far riskier to use them at all. Much of the financial industry will be rendered obsolete by crypto currency, esspecially with the ability to script transactions based on contract that both parties have to agree too in order for transfer of funds to take place.

Who needs a will when you can script your bitcoin to transfer to whomever you want upon your death. Completely automated and immune to fraud.

Is there some reason we can't evntually have physical bitcoins which each contain a code to a certain % of a specific bitcoin so they can be transfered like cash from an escro which releases the funds when the code is entered? I could see lots of bitcoins sitting in escro as the physical coins/notes trade hands like cash all over the world.

Who needs to worry about banksters and governments inflating away the value of your savings when you have a currency which is impossible to print or expand beyond its set parameters? In a free market, progress is made by prices coming down as technology and effiency goes up, not the value of currency escolating.

As for why I buy and sell with bitcoin dispite my belief that the value will be increasing, is because I avoid using FRN's whenever possible, and bitcoin is infinatly easier to spend and transact with than gold or silver. Its incrediably handy and satisfying to use a currency free from the ologarch's control and monopoly. Each bitcoin I use is a blow against the central banking empire's stranglehold over my life.

Actually you might not know

Actually you might not know how solar flares work. If it was based off of an electric field event, then it would arrive instantaneously due to the equivalence of quantum entanglement. Since the result of a solar flare doesn't arrive instantly then it is based on the magnetic aspect of the electro-magnetics, and therefore the particles travel at the speed of light, which is verified by the fact that they arrive approximately 9 minutes after the event happened on the sun.

The point being is that if one of those large transformers goes, then it wont be working for at least 4 to 5 years. Also, I never said that the power would be knocked out by a Coronal Mass Ejection, however, it is a possibility and therefore makes relying on the power grid for our currency a very dumb idea.

As far as large scale outages being short-lived, then maybe you should look into how many people are still without power due to Sandy. The 2003 even knocked-out most the the Northeast and even part of Canada, and that wasn't short-lived.

Also, BitCoin -unless it is sanctioned by the State- will never take over anything, due to the fact that the major need for money in our currency society is that we have taxes to pay. Mainly property and school taxes; and government isn't going to be accepting Bitcoin to pay those anytime soon; unless it is through a Coinbase type services which accepts BitCoin and pays the recipient with FRNs, but then that is defeating the purpose of using Bitcoin, much like using Bitcoin to buy from Overstock and other merchants presently.

Each Bitcoin you spend is not a blow against anything, if you use it to buy from a retailer using a Coinbase, Bitpay type service. Also, how do you know that the FED doesn't have the largest mining operation available, or that the FED doesn't use speculation to drive the price up to get you Bitcoiners to waste more of your effort just to get Bitcoin, while putting more money in their pocket?

Im not sure you understand

Im not sure you understand this subject. Quantum entanglement is a fictious and nonsensical theory current being pushed by the mystics in the gravitational model crowd. It has nothing to do with electricity, which is the fatal flaw in all the quantum nonsense. The "reason" they surmise that matter can change positions across mass distances instantly via the "worm hole" created by quantum entanglement is because Newton's law of gravity does not account for time, and so when doing their enormous math problems at Harvard, there is no vector for time, so they just assume that must mean that matter can be transported instantly. Not only is this utter bullshit, but it doesn't even almost make sense. This is what happens when you try to squeeze imagination from a bunch of mathmaticians and engineers. Stick to math jerks.

Infact, while we're talking about ridiculous notions inside the gravitational model, lets address the fact that the very catalyst that these guys use to justify quantum entanglement, the blackhole, does not even exist. The blackhole theory was invented to explain why an exceptionally weak force such as gravity can somehow hold galaxy's together. The idea is, if you could super-condense matter, it would produce enough gravity to explain their bogus hypothesis. Trouble is we already know that you cannot super-compress neutrinos from experaments with the partacle colider at CERN. If you compress then even slightly beyond what their magnetic alignment array allows, they fly apart instintaniously and disperse. So the "theory" of black holes has been debunked for a decade at least. So, since there are no blackholes (let alone 2 black holes which have collided and become entangled), there can hardly be wormholes and quantum entanglment that can move matter instantaneously. It makes for good science fiction, but very poor science.

There is no 4th and 5th dimensions. Time doesn't have a vector because its not direction which can be accounted for. The conclusion is: Mathmatics can't proove anything. At best they can deepen our understanding of observable laws. That's why modern cosmology keeps digging themselves deeper and deeper into fantasy land mumbo-jumbo. The very model they base everything off of is garbage, but there is too much money and too many degrees based in bullshit for them to aknoweldge reality and switch to an electric model of the universe, which is the truth.

Light takes 8 minutes to reach earth from the sun, however particles charged by passing through an electric field accelerate, and that's why they have been able to reach earth from the sun in 30 minutes. The sun itself is basically a giant transistor in the center of an electric field, or like a flash like you'd see from an arc welder. It is giving off charged particles, making the entire area inside the sun's heliosphere into a giant electric field. That's why everything has a magnetic field. Matter, passing through an electric field creates a magnetic field.

Here, about solar flares reaching the earth at faster-than-light speeds: http://www.youtube.com/watch?v=dwNpAP9NB7g&list=PLwOAYhBuU3U...

Here, concerning quantum craziness:

http://www.youtube.com/watch?v=e3uiR-BIF0A&list=PLwOAYhBuU3U...

Go on youtube and visit Project Thunderbolt and start learning about the electric universe if you have an interest.

diversify or get left behind

who said anything about only holding btc and not pm's too?

if the power goes out then you want food, water, medicine, guns and ammo first. silver dimes and other barter items will come in handy later.

if you want to keep transacting in frn's paper or plastic and think that will hurt the fed you are crazy. they love people like you who hate them so bad but just not bad enough to transact outside their controlled centralized system with a better decentralized p2p system like btc.
you talk the talk but you don't walk the walk.

last i check the overstock guy is now holding a large percent of his btc and hoping to get his supply chain to take btc.
also bitpay and coinbase allow you to take whatever % of payment in btc vs frn's. you don't know what these other company's are doing unless you are privy to their contracts.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Actually, right on

Actually, right on Overstock's website it states that they receive FRNs from Coinbase. So, I'm not sure what the hell you are talking about.

The funny thing about Bitconners is first they were saying that Bincoin was Anonymous -wrong, then they said that Bitcoin was secure - wrong, then they said that Bitcoin was untraceable -wrong, now they say that it is ending the FED -wrong. How many fallacies are you people going to propagate about Bitcoin just to get suckers to 'bail' you out and pay more for the imaginary money then you yourself paid for it?

You state that if I want to keep transacting in FRNs, however, you do not recognize that by buying stuff through Coinbase and Bitpay and such, that you are also using FRNs, but with a middle man and therefore paying more because of the transfer fee due to the middle man. How exactly is that hurting the FED?

you down-voted those precious little girls didn't you

how dare you sir, shame on you mister.

"Actually, right on Overstock's website it states that they receive FRNs from Coinbase. So, I'm not sure what the hell you are talking about."

yeah like i said they can take a percentage in btc and frn's. i don't know the percentage all i know is the owner just recently said he is now holding bitcoins and believes in it because he hates the fed. look it up!

"The funny thing about Bitconners is first they were saying that Bincoin was Anonymous -wrong, then they said that Bitcoin was secure - wrong, then they said that Bitcoin was untraceable -wrong, now they say that it is ending the FED -wrong."

btc is anonymous if you use it right. i have a post here about how to use it anonymously.
btc is secure if you know how to use it right. i have a post here about how to use it securely.
btc is untraceable if you know how to use it right. both my post here on btc security and anonymity cover this.
btc helps end the fed more than you transacting in and supporting fed fiat bankster paper or plastic everyday.

you love using the feds fiat, ok i get it, to each his own.

"You state that if I want to keep transacting in FRNs, however, you do not recognize that by buying stuff through Coinbase and Bitpay and such, that you are also using FRNs, but with a middle man and therefore paying more because of the transfer fee due to the middle man. How exactly is that hurting the FED?"

it depends on the person or company as to what percent bitpay and coinbase pays them. you can choose to take 50/50 btc/usd or 70/30 btc/usd etc etc. not sure why this part seems so difficult for you to understand.
obviously the goal is to have a system where everyone transacts in btc or other crypto's. i forget now what they call it but it's like a closed loop system or vertically integrated bitcoin ecosystem, you know what i mean.

merchants only pay 1% to bitpay etc as opposed to 2-3% for paypal credit-cards etc. so merchants save money and most do specials to reward btc customers. gyft.com has great deals on gift cards if you use btc. they always give 3% off and sometimes 4-10% if you pay with btc.

you just don't know what you're talking about and everything you have said has been debunked yet again. please stop wasting my time.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Tangible.

Tangible.

Tangible

just means easily seizable and less portable/transferable.

i like pm's and btc.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

Touchable

Touchable

untouchable

untouchable

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016