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NYC Property Owner Is Now Accepting Bitcoins

Tyler Durden's picture




 

Submitted by Michael Krieger of Liberty Blitzkrieg blog,

The news surrounding Bitcoin is now coming in so hard and fast it is virtually (pun intended) impossible to keep track of it all.  It was just this past weekend that I highlighted a website that shows some of the various retail locations around the world where you can spend your BTC.  Just today, I discovered that New York property management company, Alvic Property Management, is accepting Bitcoin for rent and maintenance payments at all of its properties.  From PRWeb:

Alvic Property Management, a property management company specializing in the management of condominiums, cooperatives and multifamily rentals in the New York metro area, has become the first property management company to accept rent and maintenance payments in Bitcoin. Properties on the Alvic Property Management platform are now be able to accept payments with the speed and ease of credit card or eCheck payments without the risk of chargebacks or bounced eChecks.

 

All properties managed by Alvic Property Management are currently accepting bitcoins. Residents initially need to reach out to their property manager to have their account enabled to accept bitcoin, they will then be able to then make payments to a Bitcoin address exclusive to their account. All bitcoin payments will post to the property bank account in US dollars at the quoted bid price on the Mt.Gox Bitcoin exchange at the time of receipt.

 

“It has become clear to us that Bitcoin has traction in New York City and the requests to pay by Bitcoin has been increasing. When landlords provide more options, they open themselves up to larger pools of potential tenants, which ultimately increases property values.” said Michael Lacsa, head of client relations for Alvic Property Management. “We are always looking for ways to increase income while cutting expenses for our properties and accepting Bitcoin provides this opportunity.”

Guess someone forgot to tell them it’s a bubble…

Full article here.

 

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Mon, 04/08/2013 - 22:26 | 3424773 jeebus
jeebus's picture

wikispeed.com

 

100MPG custom built car, for ~180 bitcoins.

Mon, 04/08/2013 - 22:32 | 3424796 CH1
CH1's picture

LOL... you really can use it for a house now.

Trolls, please cue up your new canards.

Mon, 04/08/2013 - 22:41 | 3424833 Harlequin001
Harlequin001's picture

Because property management companies always make the best investments don't they?

Now think of a stock you don't want to buy...

Mon, 04/08/2013 - 22:41 | 3424841 CH1
CH1's picture

Yeah, that comment makes everything else irrelevant!

Mon, 04/08/2013 - 23:00 | 3424901 Ahmeexnal
Ahmeexnal's picture

BitCoin, the pyrite of the digital age, script kiddies - i.e. f00lz- "gold"

Mon, 04/08/2013 - 23:05 | 3424917 Spider
Spider's picture

You have to be stupid not to see that the government is going to put bitcoin out of business. I'll stick with the real monetary PM's...

Mon, 04/08/2013 - 23:13 | 3424946 Blame Crash
Blame Crash's picture

Actually, how do you know that it wasn't the government who hatched the PonziCoin scam to begin with?

Mon, 04/08/2013 - 23:16 | 3424955 knukles
knukles's picture

http://www.yelp.com/biz/alvic-management-brooklyn

Which stock was that I didn't want to buy?

Mon, 04/08/2013 - 23:24 | 3424989 ACP
ACP's picture

Shit that's funny - like a sideshow in a comedy movie.

Mon, 04/08/2013 - 23:47 | 3425044 francis_sawyer
francis_sawyer's picture

Just the kind of people all bitcoiners deserve to do business with...

Mon, 04/08/2013 - 23:50 | 3425053 markmotive
markmotive's picture

Al Jazeera did a special on the Bitcoin Boom:

http://www.planbeconomics.com/2013/04/inside-story-cashing-in-on-bitcoin...

Great idea, but is it viable?

Tue, 04/09/2013 - 00:50 | 3425172 Henry Rearden
Henry Rearden's picture

Bitcoin is fool's gold.  It's seems like a good idea, but the reality is anyone else can come along and create the exact same product.  Competition makes this thing absolutely worthless. 

No government is going to allow Bitcoin to go to court and sue it's competitors.  None. 

Tue, 04/09/2013 - 01:23 | 3425203 El Oregonian
El Oregonian's picture

Don't you think you've said a "Bit" much?

Tue, 04/09/2013 - 01:30 | 3425206 strannick
strannick's picture

Bitcoin and fiat both have the same hard drives for mothers...

Bernanke's fiat will survive and bitcoins encryption is bulletproof because they said so.

Tue, 04/09/2013 - 02:20 | 3425246 Scarlett
Scarlett's picture

The next 5 to 10 years of bitcoin:  http://www.youtube.com/watch?v=mD4L7xDNCmA

 

Prepare to be blown away

Tue, 04/09/2013 - 03:28 | 3425282 i-dog
i-dog's picture

It's certainly reassuring [:/] that he works for both Google and Bitcoin....

Tue, 04/09/2013 - 03:52 | 3425297 Harlequin001
Harlequin001's picture

Look I'm sure it's really impressive and fabulous and incredibly safe and I'm sure it will go to thousands of dollars a coin but put simply the instant that the IRS disallows any expense paid for in bitcoin as not a genuine expense you can see the rush for the door already, and you can hear the gnashing of teeth and wailing of conspiracy theorists already if you care.

The authorities didn't go to this much trouble to manage the gold prices to allow bitcoin to steal the show.

Time to wise up people, the value of bitcoin if you can call it that has got nothing to do with the software or any super high level of encryption. The writing is already on the wall.

Tue, 04/09/2013 - 04:34 | 3425323 malikai
malikai's picture

Tylers,

Still not accepting BTC donations? Good thing nobody took me up on my <6months bet last year.

If you guys need help, I know the protocol/API, security, and several exchange APIs.

It's not that difficult, and is far more "secure" than your bank.

You know who I am and where to find me.

Tue, 04/09/2013 - 06:18 | 3425400 nmewn
nmewn's picture

lol...nothing like a good challenge ;-)

Tue, 04/09/2013 - 06:55 | 3425431 Tegrat
Tegrat's picture

Pay expenses with fiat, collect income with BC. Until the law is changed looks like a big loophole on income tax. would consider this myself.

Tue, 04/09/2013 - 07:08 | 3425442 Harlequin001
Harlequin001's picture

LOL. I'd say that you can collect YOUR income in whatever you want, but the tax man will still assess you in fiat.

Which you will have to pay, and if you don't/can't because you can't sell it he'll bankrupt you nonetheless.

but good try...

Tue, 04/09/2013 - 07:28 | 3425516 Urban Redneck
Urban Redneck's picture

I think you need to learn the difference between a loophole and ignorance of the tax code.  If the IRS decides to teach you the difference, it won't be the back taxes that can legitimately claim you owe from non-compliance, but the INTEREST & PENALTIES which they will use to rip you a new asshole, and unfortunately the INTEREST & PENALTIES never joined the ZIRP age.

Same goes for bartering (even with the precious).

Compliance with the "law" or Defiance of the law, make your bed and be happy with it.

Tue, 04/09/2013 - 01:28 | 3425207 ILoveDebt
ILoveDebt's picture

You might as well argue that any software or service is worthless as someone can offer the same thing or better at potentially a lower cost.  

You aren't wrong in a general sense, but the only way something will replace Bitcoin is if the entire cyrptocurrency economy decides they like the new one better.  The larger the value of the bitcoin economy, the smaller the chance that ever happens.

There are a lot more ways it could more likely go away than the one you argue against.  

Tue, 04/09/2013 - 05:26 | 3425337 Harlequin001
Harlequin001's picture

It isn't so much the lower cost that is the problem. I simply need to duplicate the whole currency as 'Bitcoin2' or 'son of Bitcoin' with an identical number of units and you instantly have a tradable arbitrage between 'currencies', and I can copy and paste any number of virtual currencies so that we have one different 'bitcoin currency' for literally every unit of Bitcoin which unlike gold can't be duplicated with 'gold2' or son of gold etc...

Taken in isolation Bitcoin might look ok but the concept of 'uniqueness' is fundamentally flawed to the extent that I only need encrypt  bitcoin2 in a different way, which means that its no more unique than wooden beads, every one of which has a different grain, which means that someone at some point is bound to lose out, all of it.

There is only one gold and only one silver and there will only ever be one gold etc. I could go on.

I'm sure lots of suckers like this property company will invest in it and I'm sure some will make some money, possibly lots but sadly there ain't no way this thing's going to fly.

Tue, 04/09/2013 - 05:51 | 3425363 dark pools of soros
dark pools of soros's picture

Holy fuck you're dumb

No reason to be nice to the naysayers anymore. Just kick them in their sad state

Tue, 04/09/2013 - 05:59 | 3425373 Harlequin001
Harlequin001's picture

One of us is fucking dumb. Me, I'm buying gold.

Go figure.

Tue, 04/09/2013 - 05:54 | 3425366 EscapeKey
EscapeKey's picture

You should feel free to create your own spawns of bitcoin. No-one is stopping you - in fact, that source code is all there for you to modify.

I guess I'll just sit here and watch your bitcoin derivative fail to take off.

Tue, 04/09/2013 - 05:57 | 3425371 Harlequin001
Harlequin001's picture

Do you think somebody won't?

What makes you think only Bitcoin will 'take off'?

I'm curious...

Tue, 04/09/2013 - 06:01 | 3425374 EscapeKey
EscapeKey's picture

Other digital cryptcurrencies might take off. I hope so. Competition is good.

But you're sitting painting it out as if it's a simple question of recompiling the source code, and *boom*, bitcoin is dead.

Tue, 04/09/2013 - 06:03 | 3425377 Harlequin001
Harlequin001's picture

No, it's not dead, it's duplicated.

A bit like wooden beads. They're all different too...

Tue, 04/09/2013 - 06:04 | 3425382 EscapeKey
EscapeKey's picture

And what is your USP? There needs to be a reason for users to use your derivative rather than the original.

Or do you genuinely think that all you have to do on the web is ctrl-c ctrl-v and you're an instant success?

In which case, you couldn't be more dead wrong. The online marketplace has not worked out at all in that way.

Tue, 04/09/2013 - 06:15 | 3425397 Harlequin001
Harlequin001's picture

My USP is very simple. The instant that Bitcoin value rises above par there is an instant arbitrage (however small) to a second similar setup. Its only a matter of time before that arbitrage is sufficient to attract bigger players and then your investment is gone.

Seems pretty straightforward to me. What is to stop Walmart  from accepting their own 'virtual currency' online in collaboration with say Texaco?

Do you think that won't be more attractive than Bitcoin, a virtual currency you can use to buy fuel, food and virtually everything else?

 

Tue, 04/09/2013 - 07:25 | 3425506 EscapeKey
EscapeKey's picture

oh so you want to turn bitcoin into some sort of corporate reward-scheme loyalty card.

yeah that's not missing the point of a cryptcurrency at all.

Tue, 04/09/2013 - 07:28 | 3425517 Harlequin001
Harlequin001's picture

No, I'm saying that Walmart in conjunction with just one other oil company is big enough to start its own virtual currency that is accepted in far more outlets than bitcoin, and Bitcoin is instantly duplicated.

Same crypto just more useful.

So where is Bitcoin's advantage?

Tue, 04/09/2013 - 08:19 | 3425642 EscapeKey
EscapeKey's picture

Yeah, good luck introducing a cryptcurrency founded by corporate America as opposed to just using it.

Tue, 04/09/2013 - 09:06 | 3425898 Harlequin001
Harlequin001's picture

I didn't say it was founded on corporate America, merely gave you an example of how any number of virtual currencies with ample outlets to make them attractive can be introduced and how Bitcoin would then ultimately fail.

You don't seem to want to deal with that...

Tue, 04/09/2013 - 09:58 | 3426158 EscapeKey
EscapeKey's picture

I'm merely observing you spout a lot of theoretical nonsense, and do fuck all to back it up.

If it was "all that easy" you're essentially wasting your time here. Go, become an instant millionaire.

The problem however is that your concept is flawed. You won't be first out of gate, and there is absolutely no reason to adopt your scheme rather than the existing.

Tue, 04/09/2013 - 10:26 | 3426307 Harlequin001
Harlequin001's picture

'You won't be first out of gate,...' so that's your idea of a sucessfull currency is it?

You're not very bright are you, sounds like Bitcoin is right up your alley.

Me, I'm sticking to gold and silver, and when that doesn't work maybe I'll do something to 'fuckin' back it up'.

Till then, best of luck with that one sucker, you'll need it.

 

Tue, 04/09/2013 - 12:20 | 3426872 strannick
strannick's picture

 

 

 

Bitcoin1 Bitcoin2 BitcoinWallMart and its over. I concur....

Tue, 04/09/2013 - 06:02 | 3425376 tabasco71
tabasco71's picture

If gold is bitcoin, isn't silver son of bitcoin?

Tue, 04/09/2013 - 06:04 | 3425380 Harlequin001
Harlequin001's picture

It isn't, and no, it isn't...

Tue, 04/09/2013 - 07:42 | 3425552 Urban Redneck
Urban Redneck's picture

You're missing something in regards to SCALE.  If scale was what really mattered then the Euro would be in great shape.  Yet the Euro is crippled by a large and (for now) increasing user base coupled with an inflexible supply of medium of exchange.

Bitcoin is designed to purely deflationary a fixed quantity of bitcoin purchasing an ever greater amount of exchange.  The people shouting "Ponzi Scheme" are off-base.  However, there are striking similarities to a Multi-Level Marketing operation. 

The viability of the next "digital alternative" currency will be a function of its ability to address consumer needs and desires in the marketplace, same as it ever was.

Bitcoin addresses the current desires of marketplace participants to exactly the opposite of what the ass clowns behind the printing presses are doing.  

 

Tue, 04/09/2013 - 01:32 | 3425212 Harbanger
Harbanger's picture

Another reality is that this property owner is going to have to file a tax return next year.  So were his gains in dollars or bitcoins ?  This is going to get interesting.

Tue, 04/09/2013 - 05:55 | 3425369 dark pools of soros
dark pools of soros's picture

Big deal.. So he claims taxes in $$ as the prices are still in $$. The HUGE reason people like bitcoins is no chargebacks. It frees them from being the buyer's bitch

Mon, 04/08/2013 - 23:17 | 3424958 fonestar
fonestar's picture

Well, well, well!!

Acording to the "only things I can touch are real" block-heads (with a cranium more dense than tungsten), bitcoins have no "intrinsic value" ROFL!!

It would appear this home owner would beg to differ!

Mon, 04/08/2013 - 23:36 | 3425017 francis_sawyer
francis_sawyer's picture

After a long consideration ~ I've decided that I will accept bitcoins [as payment as well]...

~~~

Last year, my services to cut your lawn [1 acre], was $50 [or 5 bitcoins]... I haven't raised my price at all ~ It'll still cost you only 5 bitcoins...

Have fun cutting your own lawn...

Mon, 04/08/2013 - 23:44 | 3425038 fonestar
fonestar's picture

Things were always harder for those monkeys that chose to stay in the trees......

Mon, 04/08/2013 - 23:48 | 3425049 francis_sawyer
francis_sawyer's picture

Yeah ~ those monkeys who came down & moved to Detroit fared much better...

Tue, 04/09/2013 - 02:17 | 3425241 Scarlett
Scarlett's picture

http://www.reddit.com/r/IAmA/comments/1aoi0s/iam_nassim_taleb_author_of_...

Nicholas Nassim Taleb: "Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence. I only talk from skin-in-the-game. If I had money in bitcoin, I would have reported it. But I don't yet. I am waiting to understand it better, not with my brain, but with my experience..."

 

VS.  the Towering Intellectual Francis Sawyer....

 

take your pick.

Tue, 04/09/2013 - 03:42 | 3425292 Harlequin001
Harlequin001's picture

Well if Taleb said it then it must be true eh.

'a currency without a government, something necessary and imperative'

you mean a bit like gold and silver but you can't touch, see or smell it.

Tue, 04/09/2013 - 04:26 | 3425320 malikai
malikai's picture

Note Taleb's correct use of the word: currency.

Gold/Silver = Money

BTC/USD = Currency

Which currency would you rather trade in? Doallars or BTC. That's what this whole question boils down to. Use of BTC for trade != Stacking BTC.

Nevertheless I'm going to enjoy buying gold with my recent BTC profits (wow!), and I'll keep trading in BTC.

Tue, 04/09/2013 - 05:17 | 3425339 Harlequin001
Harlequin001's picture

Good luck with that, I'm sure it will work until it doesn't and then I hope you aren't left holding too many as most statistically must.

I however will happily trade your gold, with mine...

My comments are above...

Tue, 04/09/2013 - 05:34 | 3425352 malikai
malikai's picture

It could stop working right now, BTC can go to zero, and my profit will still be >400%.

Tue, 04/09/2013 - 05:38 | 3425354 Harlequin001
Harlequin001's picture

Cool, I could day trade penny stocks, I could buy venture capital but there's some risk I just don't want.

As long as you're happy, and making money then good luck to you.

Me, I'm out...

Tue, 04/09/2013 - 06:17 | 3425399 fonzannoon
fonzannoon's picture

"Nassim Nicholas Taleb, speaking at a conference in Moscow earlier today, said that shorting Treasuries is a "no brainer."

 

Due to the policies of the Obama administration and Fed Chair Ben Bernanke, “every single human being” should bet U.S. Treasury bonds will decline.

"Every single human being should have that trade," Taleb said.

Feb 2010

Tue, 04/09/2013 - 06:26 | 3425402 Harlequin001
Harlequin001's picture

My only comment to this is to say that unless you have a seat on the Board of the Fed or a large investment bank you have absolutely no clue what is going to happen and/or when.

Investment gains in this environment are for the most part pure luck, or manipulation.

That advice should have been good, but without US$ 100B/monthin Fed intervention it would have been correct in my view but I still don't view Taleb as the fount of all knowledge...

Tue, 04/09/2013 - 06:49 | 3425425 francis_sawyer
francis_sawyer's picture

@Scarlett

~~~

What you pointed out is that I'm fairly well aligned with Taleb... Especially this part...

"But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence. I only talk from skin-in-the-game. If I had money in bitcoin, I would have reported it. But I don't yet. I am waiting to understand it better, not with my brain, but with my experience..."

Instead ~ people like yourself come on here and rah-rah like everyone should just throw their money blindly at it & hope for the best...

You're like Leo & Chinese Solars... Or RobotTrader with Lululemon...

Tue, 04/09/2013 - 07:11 | 3425435 Harlequin001
Harlequin001's picture

Ok error, this was not at me...

Tue, 04/09/2013 - 01:54 | 3425229 Harbanger
Harbanger's picture

"We were living in trees when they met us. They showed us each in turn That Water would certainly wet us, as Fire would certainly burn:"

Sorry, couldn't help myself :)

Tue, 04/09/2013 - 00:47 | 3425170 CheapBastard
CheapBastard's picture

I bet they'll accept the yellow metal too.....

Tue, 04/09/2013 - 07:40 | 3425546 quasimodo
quasimodo's picture

I'm not so sure those dumbfucks would, do they even know what yellow metal is?

Mon, 04/08/2013 - 23:55 | 3425072 Blame Crash
Blame Crash's picture

Selling a house for PonziCoins is nothing more than a publicity stunt and the chance of it happening are between nil and none. This entire $hit $how is a well orchestrted Pump N Dump and this is just another act in the charade.

Tue, 04/09/2013 - 00:11 | 3425107 Herodotus
Herodotus's picture

I think that I am going to buy a city block of houses in Detroit and sell them for BitCoins.  I can buy them for $100 and sell them as-is for $4,999 in BitCoins.  They will be able to brag that the house that they bought (sight unseen) was a real steal. 

Mon, 04/08/2013 - 23:19 | 3424962 Ahmeexnal
Ahmeexnal's picture

Hmmmm...."Magic of the Gathering Online Exchange" ...sure seems like the kleptocratic elite came up with that name during one of their satanic orgies over at Bohemian Grove.

Mon, 04/08/2013 - 23:28 | 3425000 knukles
knukles's picture

LOL

All the while chanting "Fucking Bitcoin"

Tue, 04/09/2013 - 00:58 | 3425179 Henry Rearden
Henry Rearden's picture

Actually, Magic the Gathering has been around for 20 years.  The cards have value, and would probably be the easiest way to smuggle $100K between Europe, Asia, North and South America.  No customs agent is going to stop you with a handful of Beta Dual Lands, Black Lotus, and Moxen.  They simply don't know what it is.  And like gold, magic cards are worth money in any market place.  You can exchange them for the currency of any country, exactly like gold.

 

The game grows in popularity every year and was recently introduced to the Russian market. 

Tue, 04/09/2013 - 04:10 | 3425291 New World Chaos
New World Chaos's picture

I considered this at one point, but realized that nerd shops rip you off even worse than coin shops with rare coins.  You will face poor liquidity, high spreads, and greedy priests of an arcane market.  The only reliable way to MAKE money trading MTG is to own a nerd shop or know enough about the game to be able to buy cards in bulk from clueless people pawning someone else's collection, and even then you have to spend ages sifting through cards.  There is also a form of insidious inflation called Power Creep.  Wizards of the Coast needs to keep making money so they are always printing slightly better spells than last year, which slowly reduces the value of previous cards.  BitCoin is a much better way to avoid a major haircut at the border.

Tue, 04/09/2013 - 05:46 | 3425357 New World Chaos
New World Chaos's picture

Tyler Durden, the Sleepless Warrior (planeswalker- Tyler)

Cost = 1 colorless mana + 2 red mana; loyalty=4

Tyler Durden, the Sleepless Warrior may take one action on each opponent's turn.

+1: Add 1 red mana to your mana pool.

-1: Put a 1/1 red human barbarian creature token onto the battlefield.

-8: Attacking red creatures you control get +2/+0 and gain first strike until end of turn.

 

BitCoin (enchantment)

Cost = 1 red mana + 2 blue mana

Shroud (This permanent can't be the target of spells or abilities).

At the beginning of your upkeep, double the number of chaos counters on BitCoin, then add a chaos counter to BitCoin.

Remove a chaos counter from BitCoin:  Add 1 red mana to your mana pool.

Remove two chaos counters from BitCoin:  Draw a card.

Tue, 04/09/2013 - 06:08 | 3425383 dark pools of soros
dark pools of soros's picture

That is way too slow for a red deck. I see you tossed a blue in there to suggest a control deck... Better be

Tue, 04/09/2013 - 08:14 | 3425633 tarsubil
tarsubil's picture

It is sad how much of this conversation I actually understand.

Tue, 04/09/2013 - 11:58 | 3426782 mkhs
mkhs's picture

Sad?  Thank God (whichever you follow) you are not infected.

Tue, 04/09/2013 - 12:44 | 3426986 Thisson
Thisson's picture

Hah, you guys have overlooked the most important fact: MAGIC CARDS COME OFF A PRINTING PRESS.

Tue, 04/09/2013 - 23:30 | 3429600 Ahmeexnal
Ahmeexnal's picture

A fairly decent print shop can crank up all those exotic cards "no problemo".

Tue, 04/09/2013 - 00:55 | 3425180 Henry Rearden
Henry Rearden's picture

i duped my message

Mon, 04/08/2013 - 23:48 | 3425050 ACP
ACP's picture

@Blame Crash

In that case, it should be called "Bitchcoin".

The fist coin with the bust of a First Lady on the front and a gigantic ass on the back.

Tue, 04/09/2013 - 00:36 | 3425145 macholatte
macholatte's picture

 

LOL

+10

Tue, 04/09/2013 - 00:25 | 3425122 Unpopular Truth
Unpopular Truth's picture

A Ponzi is money spent and a propagating liability. Like bonds/debt/fiat currency of the western governments.

Bitcoin is fixed in quantity. You cannot keep printing more of it.

Can you please explain why you are calling Bitcoin a ponzi

Thank you

 

 

Tue, 04/09/2013 - 00:41 | 3425148 TPTB_r_TBTF
TPTB_r_TBTF's picture

 

 

A bubble as big as this one is sometimes referred to as a ponzi.

The guys "investing" in bitcoins are hoping to unload them later on a sucker.  The guys "investing" in bitcoins now think that they can get out before the bubble pops. 

What is your definition of a ponzi?

Tue, 04/09/2013 - 00:41 | 3425152 macholatte
macholatte's picture

 

Let's say that everything about bitcoin is strictly legit...... there's still a 1,000 pound gorilla in the room (government) that just may shit on it which, for me, is the unknown I choose not to argue with.

 

 

Tue, 04/09/2013 - 01:54 | 3425225 CrashisOptimistic
CrashisOptimistic's picture

Governments/central banks are cooperatively printing money.

They could also cooperatively tax gold transactions at 70%.  No confiscation.  Keep it for collection purposes, but if you try to transact any business with it, 70% to the gov't.

Of course, bitcoins can be taxed, too. 

The point is gold in no way has any sort of advantage of insulation from government action.  Keep it if you like.  Buy food with it, pay tax.  That tax will destroy all quotes of dollar price of it within 48 hrs, and from then on you have no way to know what to pay for a can of beans -- and of course the bean can seller could be IRS.

Tue, 04/09/2013 - 04:24 | 3425317 econman
econman's picture

What! Lol that makes no sense at all. If that at all is true then the government would be able to track all cash transactions as well which they can't do. The only reason that governments know how to tax anyone is by recorded transactions either electronically or self submission (aka telling them what you made or purchased). You can only be taxed if you are willing to be taxed. If anyone wants to avoid taxes, which a lot of ppl do, just start using cash only as a form of payment and don't keep a bank account.

Tue, 04/09/2013 - 06:15 | 3425395 dark pools of soros
dark pools of soros's picture

And all the weak sheep show their colors more and more. Fight Club? or Fail Club?

Starting to see that 90% of the people here don't even understand the articles here... Just the basic, fuck the gov'ment crowd as they hide in their double wide

There's a lot more simpler websites you can hang out at for that

Tue, 04/09/2013 - 07:01 | 3425432 francis_sawyer
francis_sawyer's picture

Yeah

~~~

If they could spend all their time:

Adding 1 red mana to their mana pool.

Putting a 1/1 red human barbarian creature token onto the battlefield.

Then ~ attack red creatures & gain control to get +2/+0 and gain first strike until end of turn, whilst deploying the Shroud and doubling up on chaos counters...

~~~

Well ~ certainly their lives would be more full & meaningful...

It all went to hell when the math question disappeared... These motherfuckers would have needed a calculator...

 

Mon, 04/08/2013 - 23:20 | 3424977 fonestar
fonestar's picture

You have to be stupid to comment on things like distributed computing, p2p networking, cryptography, etc without knowing what the hell you are talking about and expect people to take you seriously!

I am not an architect which is why I don't pull the George Costanza, "I am an architect" on people.

Mon, 04/08/2013 - 23:56 | 3425046 BLOTTO
BLOTTO's picture

Ancient occult things/elements/stuff - rule this planet...and in ways probably normal people could never comprehend.

.

Why?

Because their is Nothing New Under the Sun...

History is Repeating itself.

.

Therefore, its very possible that this bitcoin business is just another recycled way of scaming and enslaving the masses in c.2013...

No different than a smoke signal turning into a cell phone...just another way of doing the same thing, but just faster.

Tue, 04/09/2013 - 06:20 | 3425401 dark pools of soros
dark pools of soros's picture

So there was sexting with smoke signals?

Tue, 04/09/2013 - 07:01 | 3425434 francis_sawyer
francis_sawyer's picture

No... People actually had sex...

Tue, 04/09/2013 - 08:19 | 3425643 tarsubil
tarsubil's picture

No doubt, while I don't understand it, bitcoin will reduce my relations with women just like cellphones did.

Tue, 04/09/2013 - 00:01 | 3425088 Dr Benway
Dr Benway's picture

So what if bitcoin has all these great rules to limit the number created, they can be changed if a majority decides, just like fiat. That's the key point. Bitcoin can be created by decree, but gold cannot.

Tue, 04/09/2013 - 00:46 | 3425156 TPTB_r_TBTF
TPTB_r_TBTF's picture

They donT even have to change it; they can just make a second/3rd/4th version/release:

 

Bitcoin 1.0

Bitcoin 2.0

Bitcoin 3.0

Bitcoin ...

 

We donT know who created bitcoin; but we are sure he is a great lovable guy.  He has only our interests in mind.  He is so selfless.

Tue, 04/09/2013 - 06:12 | 3425391 Debugas
Debugas's picture

exactly. what makes bitcoin a bitcoin is its ledger shared among bitcoin community.

One can simply say lets abandon  the ledger and start a new one - you get a new community using a different ledger effectivly making bitcoin2

Tue, 04/09/2013 - 06:25 | 3425405 dark pools of soros
dark pools of soros's picture

Ahhh but it's voodoo see? Not pure from our true god that only giveth gold, silver, bullets and nothing more... The dogma here is deafening. Read a fucking tech book for fucks christ

Tue, 04/09/2013 - 12:49 | 3427005 Thisson
Thisson's picture

It's trivial for the US government to obtain enough computing power to fork the blockchain, if that's what they decide they want to do.

In addition, as harlequin has noted (and as I have pointing out previously), any sufficiently moneyed corporate interest could make a competing bitcoin with enough "network effects" to compete against the original bitcoin brand.

Tue, 04/09/2013 - 06:09 | 3425387 Bangin7GramRocks
Bangin7GramRocks's picture

He will accept it during the bubble. As soon as the government decides to intervene(which they will), he will send a nice letter canceling bitcoin as a payment option. You all do realize that the NSA can read and control the entire Internet right? Fucking bitcoin!

Tue, 04/09/2013 - 06:30 | 3425411 dark pools of soros
dark pools of soros's picture

You do understand you're a serf not worth saving right? Unlock your chains and you will lock them back

What are you waiting for? Jesus to back and tip over the Bernack's QE table? Free gold to be worth millions in fiat?

No one is saying gold isn't money, but to not see the disruptive power of bitcoins on your masters shows you love your masters more than you admit

Mon, 04/08/2013 - 22:46 | 3424855 Theta_Burn
Theta_Burn's picture

Please...let the first rents come in before we unfurl the BC standard.

I applaud this poke in the eye to the script issuers, but don't be so giddy as .govS wont be denied their pound of flesh...

 

Mon, 04/08/2013 - 22:48 | 3424860 LasVegasDave
LasVegasDave's picture

What happens when the govt. shuts down the internet in 20 years?

Bless y'all's hearts, but ammo is a much better investment

Mon, 04/08/2013 - 23:09 | 3424932 Conman
Conman's picture

What happens when the government bans guns and bullets. Oh shitt... they have in most countries. Woops! comeing to a USofA near you.

Mon, 04/08/2013 - 23:32 | 3425009 IridiumRebel
IridiumRebel's picture

A bunch of country boys and ex military go rogue and start fucking up MRAPs?

Mon, 04/08/2013 - 23:46 | 3425047 john39
john39's picture

Thus the skynet drone army/air force

Tue, 04/09/2013 - 08:02 | 3425606 Urban Redneck
Urban Redneck's picture

Skynet relies on the electrical grid and hydrocarbon pipelines.

The US hasn't had to defend its home turf in 150 years, and it doesn't have the capacity to simultaneously defend its sprawling support system while going forth and conquering the sheeple.

The MICs history of allocating scarce resources (as well as the imperative of self-preservation) dictates that major cities and critical infrastructure take precedence.

BTW - firing a Hellfire missile at some not-so-dumb-union-member-redneck who happens to be taking a piece of Home Despot copper pipe to a 20-ton (and up) electrical transformer is a really dumb idea, perhaps not as dumb as going after the plumber who has a thing against nat. gas pipelines with that same missile, but still really dumb.

Tue, 04/09/2013 - 00:11 | 3425106 lickspitler
lickspitler's picture

Did someone cut and paste all these comments from the BITCOIN story at $25, 45, 50,68,85,101,125,150,175  ???????????

Tue, 04/09/2013 - 06:36 | 3425417 dark pools of soros
dark pools of soros's picture

Why the hell are you on this web site? Articles like these really shine the light on what the fuck is crawling in here

I might start rooting for Wall Street if all that's here are fucking dumb spineless rednecks - who are really going to shoot anyway?

Mon, 04/08/2013 - 23:45 | 3425039 Kaiser Sousa
Kaiser Sousa's picture

man look, cause dudes like me dont c any value n this Bitcoin shit is no reason to dimiss us as trolls... we just prefer constitutional money - the money thats been money for  - oh u know the story...

if a mother fucker will trade a real tangible asset like a fucking house for some shit off in cyber "wherever the fuck" then knock himself the fuck out...

i think the shit is hilarious...laughing as i spin my Silver Eagle a round and a round.....

Mon, 04/08/2013 - 23:50 | 3425056 lickspitler
lickspitler's picture

chill chi

There is a fish and chip cafe near byron bay Australia "The Starfish" that has accepted bit coins for some time.

Lunch time special today  Snapper and Chips  0.05 Bitcoins

viva the revolution

 

Tue, 04/09/2013 - 03:02 | 3425271 A Nanny Moose
A Nanny Moose's picture

So someone is a troll, simply because they disagree with about being 110% gung ho in favor of digital tulips? Got it.

While this does not equate to losing your stash of crypto digits, there is this....

http://arstechnica.com/security/2013/04/malware-spread-on-skype-taps-vic...

Can you say bitcoin bots?

Tue, 04/09/2013 - 05:32 | 3425347 Urban Redneck
Urban Redneck's picture

People have already lost their stash of crypto digits.  The geeks just don't like talking about that.

That's okay- THEY'RE TALKING THEIR BOOK, nothing more.  If you have a somewhat finite medium of exchange and increased demand for that medium of exchange, then its purchasing power rises, regardless of the debasement of any other medium of exchange.  As long as they they can increase demand for bitcoins as a medium of exchange faster then the supply of bitcoins increases, then they should be OK (and yes there are a thousand implied caveats built into that sentence).

The problem is there are a million ways to die, and the guys talking their book seem to have reduced death to heart disease or getting hit by a bus.  On a long enough timeline, we're all dead, and we most certainly won't all fall to either heart disease or bus accidents.

As for the name calling, the BitBitchez can go fuck themselves, they're good at it.

Mon, 04/08/2013 - 22:34 | 3424808 ACP
ACP's picture

I think now would be a good time to lock in a 36 month lease, provided that area has rent control.

So when is the CBOE going to be ordered to create bitcoin derivatives so the Fed can crush bitcoin values?

Mon, 04/08/2013 - 22:38 | 3424830 Harlequin001
Harlequin001's picture

Why not go for the full 999 years?

Tue, 04/09/2013 - 12:54 | 3427035 Thisson
Thisson's picture

"Rule against Perpetuities" comes to mind. 

Mon, 04/08/2013 - 23:09 | 3424933 GoldForCash
GoldForCash's picture

Well it looks like we have found the first USA bitcoin user to be made an example out of. Guess they missed the memo where the USA government said it was the same as counterfeiting.

Tue, 04/09/2013 - 00:27 | 3425125 Unpopular Truth
Unpopular Truth's picture

Can you please provide a link where the USA government said bitcoin was the same as counterfeiting.

Tue, 04/09/2013 - 00:44 | 3425162 Theta_Burn
Theta_Burn's picture

<link pending>

Tue, 04/09/2013 - 00:52 | 3425178 RafterManFMJ
RafterManFMJ's picture

At one point I had almost 100 bitcoins, but lost them in a tragic boating accident.

Mon, 04/08/2013 - 22:27 | 3424775 Lost Wages
Lost Wages's picture

Now you can speculate on currency while you speculate on real estate. Maybe both bubbles will pop simultaneously.

Mon, 04/08/2013 - 22:31 | 3424785 flacon
flacon's picture

US Dollar is speculating on an alien invasion saving it. Paying rent isn't speculating on real estate - it's having a roof over your head that isn't made out of a cardboard box. Bitcoin doesn't have usury built into it, so that's a huge plus.  

Tue, 04/09/2013 - 16:58 | 3428420 Lost Wages
Lost Wages's picture

The landlord is speculating you dipshit.

Mon, 04/08/2013 - 22:27 | 3424777 Capitalist
Capitalist's picture

This is exacty what happens when the free market is allowed to choose money. No money is perfect but I'll take anything over government fiat.

Mon, 04/08/2013 - 22:34 | 3424800 fonzannoon
fonzannoon's picture

if it was a truly free market this property company could choose to get paid in other ways as well. But as a hard asset guy i'm not jealous. Maybe bitcoin is the black swan. it's death to fiat. We all know it's coming. we just did not know how.

Mon, 04/08/2013 - 23:37 | 3425021 jumbo maverick
jumbo maverick's picture

Your last three sentences would be correct if not for-

" Through our investigations we have found that bitcoin has been used to launder money for terrorist organizations, therefore we have identified bitcoin server providers and we have active warrants for their arrest per the Patriot Act. We have frozen all bitcoin accounts WORLDWIDE and we have Department of Homeland Security SWAT teams at the ready to serve these valid warrant in defense of the Homeland. May God bless these United States of America"

Do you now see how invalid bitcoins are and how they will address this problem,

Tue, 04/09/2013 - 00:40 | 3425147 Unpopular Truth
Unpopular Truth's picture

If anything, that is an argument FOR using bitcoin: All transactions are logged - on all servers, forever. Bad guys would be stupid to use bitcoin. they should use truly untraceable means, like cash or gold.

Tue, 04/09/2013 - 02:22 | 3425247 EscapeKey
EscapeKey's picture

God, these threads are like the one place where people decide to parade their stupid in public.
Please educate us how you can prove a given wallet belongs to individual x. So far, that question remains unanswered. But, hey, make sure you ask the exact same question in yet another thread.
Oh, and while you're at it - I recently took delivery of a quantity of electrical goods from china. Please let me know how I sould pay for this in untraceable gold or silver, without jumping on a plane and risk having my belongings confiscated.

Mon, 04/08/2013 - 23:55 | 3425066 Jaspergers
Jaspergers's picture

But why would anyone want to PAY in bitcoin if their thesis is that the dollar is losing value relative to bitcoin? Isn't it better to convert it to fiat TP along the way and pay with that? Is it pegged in the lease? Am I missing something?

Tue, 04/09/2013 - 01:38 | 3425215 ILoveDebt
ILoveDebt's picture

They peg it to whatever the major exchange (MtGox) says it's worth in fiat at the time you pay.  Thus, they only have to worry about the short term variability in exchange rate between when they take the payment and when they convert it.  

for the last month, that would be a shitload of variability.  All on the upside for the agency though.  

Mon, 04/08/2013 - 22:28 | 3424781 flacon
flacon's picture

Very cool. Anything to get away from US Dollars. 

Mon, 04/08/2013 - 22:41 | 3424836 ghengis86
ghengis86's picture

yeah, i know the problems associated with bitcoin, but fuck the fiat dollar.  anything that gives the dollar the middle finger is fine by me.  i'll keep stacking, you bitcoin guys keep mining.  whatever brings down this shit pile faster....

Mon, 04/08/2013 - 23:19 | 3424965 knukles
knukles's picture

There was always that dead rapper who'd take nothing but Euros, too....

Mon, 04/08/2013 - 23:57 | 3425076 francis_sawyer
francis_sawyer's picture

My measuring stick is 'Giselle Bundchen'...

~~~

When 'Giselle Bundchen' announces that she'll only accept bitcoins, you know the gig is up...

Tue, 04/09/2013 - 00:47 | 3425164 AUD
AUD's picture

The problem with Giselle Bundchen as measuring stick is that she declines in quality over time.

Mon, 04/08/2013 - 22:31 | 3424794 Hopium Dealer
Hopium Dealer's picture

Two bubbles are better than one!

Mon, 04/08/2013 - 22:44 | 3424848 prains
prains's picture

i tell my wife that everyday

Mon, 04/08/2013 - 22:33 | 3424799 Yen Cross
Yen Cross's picture

     Do they accept gold or silver? Probably not, as most people wouldn't want their change in fiat.

Mon, 04/08/2013 - 22:42 | 3424843 Harlequin001
Harlequin001's picture

or Bitcoin...

Mon, 04/08/2013 - 22:59 | 3424890 fuu
fuu's picture

Going long scales and assayers.

Mon, 04/08/2013 - 22:59 | 3424897 Yen Cross
Yen Cross's picture

  lol fu +1

Mon, 04/08/2013 - 23:13 | 3424944 fuu
fuu's picture

The infrastructure required to use gold and silver on a daily transactional level is not there anymore. BTC on the other hand has the infrastructure mostly in place.

 

I am surprised it is not done on a moving average though. Due between the 1st and 5th of the month based on the 30 DMA. Sort of options expiry for rent.

Tue, 04/09/2013 - 00:11 | 3425099 francis_sawyer
francis_sawyer's picture

fuu ~

~~~

After noodling on it for quite some time now, I've concluded that the most likely scenario is that, whether anyone likes it or not, FIAT is never going away...

Even if the VALUE of the present fiat system were to be completely wiped out [& all that that entails]... A new system would rise up in the ashes, which would be... drumroll... another fiat system...

Gold or silver [or whiskey, or bullets, or food, or toilet paper], are only something to keep some of your wealth intact from one system to the next...

Most of the people in this forum already know this... The bitcoiners fancy themselves as digital Ponce de León's...

Tue, 04/09/2013 - 00:41 | 3425150 fuu
fuu's picture

That is why I buy them.

Mon, 04/08/2013 - 23:07 | 3424922 FIAT
FIAT's picture

20 digit calculators

Tue, 04/09/2013 - 00:00 | 3424975 ImReady
ImReady's picture

The scale market has been around almost as long the whore market and at least as long as the gold market. The great transparent industry that no one really thinks about. 

Mon, 04/08/2013 - 22:35 | 3424801 Conman
Conman's picture

Oh no another bitcoin article. Here come the old geezers out of their Metamucil induced nap.I'll save them some trouble.

Bitcoin a ponzi.

Bitcoin are like tulips.

You cant hold bitcoin.

What happens when the internet goes out.

Don't forget to downvote, i always like a nice count of geezers on the forum.

Mon, 04/08/2013 - 22:36 | 3424809 icanhasbailout
icanhasbailout's picture

Get off mah lawn!!

Mon, 04/08/2013 - 22:36 | 3424822 infiniti
infiniti's picture

Bitcoins have nothing on tulips.

Mon, 04/08/2013 - 22:42 | 3424834 Conman
Conman's picture

Ya i know. tulips dont need internet, you can hold it, eat it too right? i can buy gold with some tulip, oh wait no i can't.

Just bought a nice krugerrand with some BTC though. damn that technoplogy sure iz scaries.

Mon, 04/08/2013 - 22:47 | 3424857 CvlDobd
CvlDobd's picture

If you could only have bitcoins or krugerrands to store your wealth, which would you choose?

Mon, 04/08/2013 - 22:51 | 3424872 Meat Hammer
Meat Hammer's picture

If you could discuss hypotheticals or reality all day, which would you choose?

Mon, 04/08/2013 - 23:30 | 3424981 knukles
knukles's picture

I'll take Hypotheticals for a $1000, Alex

There is a fabulous recovery
No inflation
Freedom rings in the air
Everybody loves us
Everybody loves me
All politicians are good
People are naturally altruistic
Bankers are all always honest
Paul Krugman is correct
Whatever

Tue, 04/09/2013 - 00:14 | 3425111 francis_sawyer
francis_sawyer's picture

I've often thought about becoming a golf club...

Mon, 04/08/2013 - 22:53 | 3424880 Conman
Conman's picture

Why do you need to choose. Point is to stay clear of fiat right?

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