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.

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