Find out why this quirky event drew people from outside of East Portland with lots of Bitcoin in their “wallet” and wanting to spend it…
People gather at a food cart in the Foster-Powell neighborhood to buy, sell and talk about the use of digital currency – specifically, Bitcoin.
History and photos of David F. Ashton
Imagine a small festival held in a food cart lot along SE Foster Road, where cash and credit cards were do not accepted. However, Bitcoin, a peer-to-peer electronic payment system, was the currency of the day at this fair.
This was the premise of the rally organizers called “Puddletown on Lighting Rails” on March 27 at the FOPO food carts on Foster Road at 73rd Avenue.
Bitcoin crusader Clay Graham, owner of PDX Parts Exchangestands ready to help businesses learn how to accept this form of digital money for payment.
“We’re having a ‘Bitcoin Party’ here today, where everyone who attends is using the digital currency called ‘Bitcoin’ for payment,” explained co-organizer Clay Graham, owner of PDX Parts Exchange. “One of the reasons we chose this location is because my ‘business-in-a-box’ is located in this module. It’s a lab to help small businesses learn how to take bitcoin for payment.
That afternoon, the three food carts and four art vendors present all only accepted Bitcoin as payment.
Lauren Kroger’s Custom Candle Maker Portland Pearl Merchandise says she’s glad she can take ‘satoshis‘ in payment for his unique creations.
“The reason we’re having this event is about adoption,” Graham explained. “It’s about showing people that it’s possible to pay – easily and quickly – using readily available bitcoins.”
When asked how easy a bitcoin, now worth $45,000, can be to get and spend, Graham said there was a simple answer. “In fact, when we deal with bitcoin, we talk in terms of”satoshis‘.
(Satoshi Nakamoto was the developer of Bitcoin, and is now very wealthy, estimated at $73 billion at the time of this writing; his value fluctuates with Bitcoin’s daily value).
Tourbillon Chaltibl says he’s at the fair to promote the band Portland Bit Developersa new organization that organizes seminars and gatherings sharing information about Bitcoin.
“Basically a satoshi is a “small piece” of a Bitcoin; with about 10 million satoshis to a Bitcoin – so right now it’s about 2,200 satoshis per dollar,” Graham explained. “So everything for sale here is priced at satoshis, to facilitate the calculation.
Why evangelism for Bitcoin? “It’s better for business,” Graham told East Portland News. “The costs per transaction are much lower than a credit card, around 1% transaction fee; and it’s faster than using credit cards.
Attending the fair is Dennis Porter, a “Bitcoin lawyer” and political strategist with singleissuevoter.com.
“And, people who love Bitcoin really want to know that they have the ability to use it in businesses to buy real things, in the ‘real world,’” Graham said as he set out to meet people who come to the fair and to spread awareness about Bitcoin.
>> On our homepage: Ronald Bynoe, a “tech enthusiast who discovered Bitcoin and thinks it’s a way to go for money,” holds up a Bitcoin lapel pin.
© 2022 David F. Ashton ~ East Portland News™