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(Guardian)   "New York's mayor is getting paid in bitcoin. But can he pay the bills with it?" - TLDR: no   (theguardian.com) divider line
    More: Obvious, Mayor of New York City, New York City, New York's new mayor, Eric Adams, New York City Subway, Verizon Communications, center of the world, center of cryptocurrency  
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1406 clicks; posted to Main » and Politics » on 21 Jan 2022 at 1:35 PM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-01-21 12:23:26 PM  
Will buying a ball gag improve my sex life?

/still no.
 
2022-01-21 12:24:34 PM  
I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".
 
2022-01-21 12:40:14 PM  

Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".


TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.
 
2022-01-21 12:44:03 PM  
He's really sticking it to the banks!
 
2022-01-21 1:28:05 PM  

Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.


How does New York suck so bad at picking mayors?  Does nobody normal want to run?  Or are the voters just braindead there?
 
2022-01-21 1:36:42 PM  

NewportBarGuy: He's really sticking it to the banks!


I believe the proper term is bankster.
 
2022-01-21 1:38:20 PM  
Nothing has actual value, just the value we assign to it. We're just a bunch of penguins with shiny rocks.
 
2022-01-21 1:38:41 PM  
Just turn the bills into NFTs and buy them
 
2022-01-21 1:38:53 PM  
Fark user imageView Full Size


smrt
 
2022-01-21 1:40:08 PM  
Are his crypto assets easily auditable?  Or is this the future of political bookkeeping?
 
2022-01-21 1:40:17 PM  
It buys a whole lot of word salad.
 
2022-01-21 1:41:01 PM  

NeoCortex42: Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.

How does New York suck so bad at picking mayors?  Does nobody normal want to run?  Or are the voters just braindead there?


Why would anyone normal want to run?
 
2022-01-21 1:41:56 PM  
Let's be fair, even my shiatty city has bitcoin atms here and there. Do they not exist in nyc? Also I mean, anything that can take paypal is somewhere he can spend his crypto.
 
2022-01-21 1:42:42 PM  

genner: NeoCortex42: Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.

How does New York suck so bad at picking mayors?  Does nobody normal want to run?  Or are the voters just braindead there?

Why would anyone normal want to run?


I would think a high profile gig like that would be a quick stepping stone to higher office like governor or Senate for someone with such ambitions.
 
2022-01-21 1:43:31 PM  
You may have heard that Bitcoin is a great economic equalizer that will right the evils of finance and wealth.  What you may not know is that while 10% of Americans own 70% of America's total wealth, 5% of Bitcoin investors own 95% of Bitcoin's wealth.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

10.55% of all Bitcoins, are owned by just 85 accounts.  That represents 0.0004% of the total.

But at least it's not Doge.  1 account owns 23.5% of all Doge.
 
2022-01-21 1:43:49 PM  
Dumb. If you want bitcoins take your paycheck and buy them yourself.
 
2022-01-21 1:45:34 PM  
The concept of using bitcoin for anything transactional is bonkers. Well i mean using bitcoin for anything else than a gamble is bonkers, but still.

Its swung like 10% in value just today.
 
2022-01-21 1:45:53 PM  

iheartscotch: Nothing has actual value, just the value we assign to it. We're just a bunch of penguins with shiny rocks.


Are you looking at my shiny rocks?  Best be not looking at my shiny rocks.  That's how you get the pecker, buddy.
 
2022-01-21 1:46:44 PM  
Then his hard drive crashes and poof gone.
 
2022-01-21 1:48:04 PM  

NeoCortex42: genner: NeoCortex42: Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.

How does New York suck so bad at picking mayors?  Does nobody normal want to run?  Or are the voters just braindead there?

Why would anyone normal want to run?

I would think a high profile gig like that would be a quick stepping stone to higher office like governor or Senate for someone with such ambitions.


I think there are a few problems with running NYC, which is similar to any other large organization.

1.  Many things are out of your control.  Crime rates shot up everywhere in the US during the pandemic.  It's in every city.  Every mayor is getting blamed for this even though nothing largely changed.  No one knows why crime fell consistently from the mid 90s through 2019 either.  So, until crime inches down again, any NYC mayor will be blamed for not fixing it.

2.  New Yorkers, like a lot of the residents of Northeast and Midwest cities, will turn on you like that.  Look at the sports teams.  It's the same thing.  "Throw the bums out' always arises no matter what.
 
2022-01-21 1:48:14 PM  

Harry Freakstorm: iheartscotch: Nothing has actual value, just the value we assign to it. We're just a bunch of penguins with shiny rocks.

Are you looking at my shiny rocks?  Best be not looking at my shiny rocks.  That's how you get the pecker, buddy.



?
yt3.ggpht.comView Full Size
 
2022-01-21 1:49:53 PM  

stuffy: Then his hard drive crashes and poof gone.


Naa he'll keep them with some crypto company, you know the ones that get hacked every other month.

Poof gone.
 
2022-01-21 1:50:21 PM  
He's buying the dip.
 
2022-01-21 1:50:57 PM  

Benevolent Misanthrope: TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.


The guy has had a successful career. He did 20 years as a cop and retired as a captain so has a decent pension from that and also made a decent wage. He is over 55 so is collecting on his NY state Senate pension. The city gives him a house to live in.

I mean if he suddenly buys a lamborghini i'll ask questions, but i don't think its anything fishy.
 
2022-01-21 1:51:39 PM  
So are you just supposed to hold on to your crypto forever? I mean, why sell if it could be worth billions some day, right? Is anyone actually, legitimately getting their money back from any of this stuff, or does your regular money just disappear into the void of crypto money and there it stays, never to return, while you get to bray on twitter about how you're a bitcoin millionaire etc.?
 
2022-01-21 1:51:59 PM  

Rapmaster2000: It's in every city.  Every mayor is getting blamed for this even though nothing largely changed.


Some of the things NYC did around bail reform and what wouldn't land you in rikers for a biatchanged, and the city as a whole has really turned on those policies.
 
2022-01-21 1:52:18 PM  

Rapmaster2000: NewportBarGuy: He's really sticking it to the banks!

I believe the proper term is bankster.


That's like MOBSTER and BANKER all in one! That's brilliant!

Let me go tell /bitcoin about this!
 
2022-01-21 2:01:48 PM  

LineNoise: Benevolent Misanthrope: TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

The guy has had a successful career. He did 20 years as a cop and retired as a captain so has a decent pension from that and also made a decent wage. He is over 55 so is collecting on his NY state Senate pension. The city gives him a house to live in.

I mean if he suddenly buys a lamborghini i'll ask questions, but i don't think its anything fishy.


Cool.  Question raised, question answered.  I like that.

Thank you kindly.
 
2022-01-21 2:02:04 PM  
I'm trying to figure out what I could pay with Dunning-Krugerrands.  Landlord won't take them, cash or credit card only.  Electric co-op is cash or credit card only.  Same with student loans.  Same with credit card monthly payments.  Car insurance, renters insurance, internet provider, all automatic withdrawals from my bank account that do cash or credit card only.  Most of my grocery shopping is at Walmart, and I do not think they take fake money, just cash and credit card.  All of my living history vendors are cash, postal money order, and credit card only.  I can't think of any place where I shop regularly or irregularly that would even take fake money.  Just cash or credit card.  So what would be the use of being paid in fake money?  I'd have to cash it out and hope that it hasn't lost value between receiving it and converting it to real money.
 
2022-01-21 2:03:54 PM  
Uhhhhh, wat? No he isn't. He's getting paid in US dollars like normal. He says he's converting it to Bitcoin - that's not getting paid in Bitcoin.

Might as well say I get paid in smart home bullshiat, food, and car parts.
 
2022-01-21 2:08:50 PM  
What the hell. This guy just seems like a colossal moron.
 
2022-01-21 2:12:16 PM  

LineNoise: Rapmaster2000: It's in every city.  Every mayor is getting blamed for this even though nothing largely changed.

Some of the things NYC did around bail reform and what wouldn't land you in rikers for a biatchanged, and the city as a whole has really turned on those policies.


Yeah, I read that in the NY Post too.  Everyone hates it.
 
2022-01-21 2:15:03 PM  

iheartscotch: Nothing has actual value, just the value we assign to it. We're just a bunch of penguins with shiny rocks.


Also food, shelter, medical supplies...but I guess that assumes you value your own life.
 
2022-01-21 2:16:02 PM  
Every action Adams has taken in his first few months of NYC mayor has screamed grift machine.
 
2022-01-21 2:27:43 PM  

Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.


Swaggerless-like typing detected.

// jk
 
2022-01-21 2:31:50 PM  

Benevolent Misanthrope: Gubbo: I bet he's getting paid in US$.

I'll bet you any amount of money that he didn't say "pay me X bitcoins every month".

TFA mentions that.  He's pain in dollars, which are converted to Bitcoin on Coinbase. Then he has to convert back to dollars to spend it.  But he'll probably hold onto it as an "investment", which raises the question of how he's paying his bills otherwise.

What a f*cking idiotic, pseudo-innovative bullshiat grandstand that no one will give a shiat about come election time.

He's a vegan, too, BTW, and loves to talk about how he has swagger.  So really, kind of a perfect storm of douche.


Fark user imageView Full Size
 
2022-01-21 2:34:52 PM  

NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.


Check https://bitpay.com/directory/ for some suggestions.
 
2022-01-21 2:38:23 PM  
I highly recommend the Ingmar Bergman movie The Seventh Seal. Particularly for the opening when the knight and his squire return from the Crusades to find that people have gone insane in their absence. People didn't use to behave like this. Yes, there were evil people and stupid people. But not as many or as shamelessly. For example, the reason people like Bull Connor were repudiated is that most people were repulsed by repulsive behavior. I don't trust people to be repulsed by repulsive behavior anymore. e.g. Gov. DeathSentence making it illegal for businessmen to keep the diseased out of their business. Crypto-currencies are insanity write large, but if you hold a light to these people's eyes, their pupils will constrict. They're alive but there's nobody home.
 
2022-01-21 2:44:47 PM  

Ivo Shandor: NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.

Check https://bitpay.com/directory/ for some suggestions.


If I follow, I download this app, then I send Bitcoin to Bitpay denominated in dollars, and Bitpay sends me "store credit" denominated in dollars?
 
2022-01-21 2:52:49 PM  

Rapmaster2000: Ivo Shandor: NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.

Check https://bitpay.com/directory/ for some suggestions.

If I follow, I download this app, then I send Bitcoin to Bitpay denominated in dollars, and Bitpay sends me "store credit" denominated in dollars?


As a customer who already has Bitcoin, you shop online as usual and then choose 'Bitpay' at checkout. You're redirected to their site to process the transaction and then your order is placed. Similar to using Paypal instead of a credit card.
 
2022-01-21 3:01:51 PM  
and the real fun part is, in the time it takes them to issue his pay, it might be worth double, half, triple, maybe zero,. it's so exciting to be in these times when your paycheck can be issued in the form of a craps table wager.
 
2022-01-21 3:05:58 PM  

Ivo Shandor: Rapmaster2000: Ivo Shandor: NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.

Check https://bitpay.com/directory/ for some suggestions.

If I follow, I download this app, then I send Bitcoin to Bitpay denominated in dollars, and Bitpay sends me "store credit" denominated in dollars?

As a customer who already has Bitcoin, you shop online as usual and then choose 'Bitpay' at checkout. You're redirected to their site to process the transaction and then your order is placed. Similar to using Paypal instead of a credit card.


I just went to Delta.com because I am currently pricing plane tickets.  There is no Bitpay option at checkout.  There is PayPal, AliPay, and major international credit cards.  If I use the search option, there is no mention of Bitpay.  As far as I can tell Delta does not accept Bitpay, but Bitpay will send me store credit to Delta.  I guess it's just a gift card.
 
2022-01-21 3:18:32 PM  

Rapmaster2000: Ivo Shandor: Rapmaster2000: Ivo Shandor: NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.

Check https://bitpay.com/directory/ for some suggestions.

If I follow, I download this app, then I send Bitcoin to Bitpay denominated in dollars, and Bitpay sends me "store credit" denominated in dollars?

As a customer who already has Bitcoin, you shop online as usual and then choose 'Bitpay' at checkout. You're redirected to their site to process the transaction and then your order is placed. Similar to using Paypal instead of a credit card.

I just went to Delta.com because I am currently pricing plane tickets.  There is no Bitpay option at checkout.  There is PayPal, AliPay, and major international credit cards.  If I use the search option, there is no mention of Bitpay.  As far as I can tell Delta does not accept Bitpay, but Bitpay will send me store credit to Delta.  I guess it's just a gift card.


Yes, it looks like you do have to go through some extra steps there. Newegg (computer parts) has it integrated into their regular checkout process.

https://bitpay.com/blog/how-to-travel-on-bitcoin/#buy-airline-tickets-book-flights-with-crypto (Fark won't link).
 
2022-01-21 3:41:26 PM  
Wow, that's just the pretentious bullshiat I know and love from NYC.
 
2022-01-21 3:41:33 PM  

Ivo Shandor: NM Volunteer: I'm trying to figure out what I could pay with Dunning-Krugerrands.

Check https://bitpay.com/directory/ for some suggestions.


None of those are in my town (aside from a satellite television company), so it wouldn't help me at all to have Dunning-Krugerrands.
 
2022-01-21 3:42:26 PM  

Rapmaster2000: You may have heard that Bitcoin is a great economic equalizer that will right the evils of finance and wealth.  What you may not know is that while 10% of Americans own 70% of America's total wealth, 5% of Bitcoin investors own 95% of Bitcoin's wealth.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

10.55% of all Bitcoins, are owned by just 85 accounts.  That represents 0.0004% of the total.

But at least it's not Doge.  1 account owns 23.5% of all Doge.


It's essentially a cornered market. The insane price is supported by irrational demand and FOMO for the 5 percent of "liquid" bitcoin.
 
2022-01-21 3:45:47 PM  
I pay my employees in Digbycoin.  It's a variable value crypto currency of my own.  For instance today it's worth, checks ledger, a hug!  Come get a hug everyone.  Not you Craig you get a bit to handsy.
 
2022-01-21 3:46:41 PM  

LineNoise: Rapmaster2000: It's in every city.  Every mayor is getting blamed for this even though nothing largely changed.

Some of the things NYC did around bail reform and what wouldn't land you in rikers for a biatchanged, and the city as a whole has really turned on those policies.


Are those the policies that the police keep lying about?

https://twitter.com/ScottHech/status/1482869672038985728
 
2022-01-21 3:57:39 PM  
"What do you mean you won't accept these Bored Ape NFTs as legal tender???"
 
2022-01-21 4:14:37 PM  

berylman: Every action Adams has taken in his first few months of NYC mayor has screamed grift machine.


I'm not sure where i stand on Adams yet. He has had one questionable appointment, that went to family, but the dude that got appointed also had the resume to be there and probably would have under any administration. Its not quite trump levels yet.

He hasn't quite got the hang of NY press and what he says yet, despite being from the city, but he also spent a long time upstate, so i'll let that slide and still give him city creds. Stuff has changed a lot in almost 20 years, but its still the city.

He is looking at rolling back a lot of the deblasio stuff EVERYONE hates, but is being managed in it and not being rash. I can respect that.
 
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