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judymcconville@roadrunner.com 2017-04-27 12:32:42 -07:00
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@ -29,7 +29,7 @@ Each of these has a search function that can take a bitcoin address, transaction
[[cup_of_coffee]]
==== Buying a Cup of Coffee
Alice, introduced in the previous chapter, is a new user who has just acquired her first bitcoin. In <<getting_first_bitcoin>>, Alice met with her friend Joe to exchange some cash for bitcoin. The transaction created by Joe funded Alice's wallet with 0.10 BTC. Now Alice will make her first retail transaction, buying a cup of coffee at Bob's coffee shop in Palo Alto, California.
((("use cases", "buying coffee", id="UCcoffee02")))Alice, introduced in the previous chapter, is a new user who has just acquired her first bitcoin. In <<getting_first_bitcoin>>, Alice met with her friend Joe to exchange some cash for bitcoin. The transaction created by Joe funded Alice's wallet with 0.10 BTC. Now Alice will make her first retail transaction, buying a cup of coffee at Bob's coffee shop in Palo Alto, California.
Bob's Cafe recently started accepting bitcoin payments, by adding a bitcoin option to its point-of-sale system. The prices at Bob's Cafe are listed in the local currency (US dollars), but at the register, customers have the option of paying in either dollars or bitcoin. Alice places her order for a cup of coffee and Bob enters it into the register, as he does for all transactions. The point-of-sale system automatically converts the total price from US dollars to bitcoin at the prevailing market rate and displays the price in both currencies:
@ -80,7 +80,7 @@ In the following sections we will examine this transaction in more detail. We'll
The bitcoin network can transact in fractional values, e.g., from milli-bitcoin (1/1000th of a bitcoin) down to 1/100,000,000th of a bitcoin, which is known as a satoshi. Throughout this book we’ll use the term “bitcoin” to refer to any quantity of bitcoin currency, from the smallest unit (1 satoshi) to the total number (21,000,000) of all bitcoin that will ever be mined.
====
You can examine Alice's transaction to Bob's Cafe on the blockchain, using a block explorer site (<<view_alice_transaction>>):
((("", startref="UCcoffee02")))You can examine Alice's transaction to Bob's Cafe on the blockchain, using a block explorer site (<<view_alice_transaction>>):
[[view_alice_transaction]]
.View Alice's transaction on https://blockexplorer.com/tx/0627052b6f28912f2703066a912ea577f2ce4da4caa5a5fbd8a57286c345c2f2[blockexplorer.com]