New York Today: Living on Bitcoin

Monday: A 36-hour cryptocurrency experiment, last-minute tax help, and Titanic memorials.

Comments: 21

  1. Yes, we all know it's still a hassle today to try to live on Bitcoin, but at least it's doable with some effort. That's a sign that it can get easier with increased adoption and time to sort out the kinks.

  2. Whew! What effort for minor purchases. I still use plastic. Easier, faster and accepted everywhere I go, and I traveled the world. Bit coin sounds OK on paper but it's tough to use on a daily basis. Good try though sir.

  3. Just remember, that accepting payment in Bitcoin is the easy part. The vendor that accepts it still has to log the payment and either convert the whole amount to dollars or use another account to pay taxes in dollars. That said, once you have Bitcoin, your transactions are basically free.

  4. @Zack: What do you mean when you say "your transactions are basically free"? Makes no sense to me.

  5. "a list of things to accomplish: grocery shop, do laundry, buy socks, work out and get a haircut."

    This is so amazing to sit here on April 16th and realize a newspaper reporter can do all these things we all do, and is actually totally 100% working on the story while doing them, and thus these are valid business deductions. And the haircut can be tax-deductible as background research work for the (I hope trademark by someone in case it catches on) future "hair forecasts."

    I love this clear fun story. I think I now know what "bitcoin" is, since I've kept thinking it's something British when I've heard about it on TV.

    Feeltemps that somehow linger at 30,
    Cruel number that freezes my QWERTY;
    Clouds that hover solidly,
    Never hinting they may flee;
    Sun that hardly makes an appearance,
    As there's far too little clearance;
    Heavy coats that call for wearing
    To offset health wear-and-tearing;
    Tulip mania of a different kind,
    Flowers rendered crazy blind;
    Day after day after freezing day,
    The winter that will not go away.

  7. 30 and QWERTY: brilliant rhyme, Leon. I love your stuff.

  8. Hi Leon, this was already a potential classic by the second line, and then it got even better. Thanks as always.

  9. Many thanks, Freddie. You're too kind.

  10. Nice travelogue. But it appears that Bitcoin is still probably not the best for we, mere mortals.

  11. I know the “Carousel” choreography was “In the News” over two weeks ago, but now that the brand new dances in the Jack O’Brien-Justin Peck “Carousel,” have gotten raves for how sexy they are: (Can you say “sexy” about Rodgers & Hammerstein dances in the comments in the morning? Maybe I’ll find out.)

    From the NY Today March 28 In The News section: “Producers of the Broadway show “Carousel” are revising their Playbill to give due credit to the show’s original choreographer, Agnes de Mille."

    Tune of “June Is Bustin’ Out All Over” [maybe sung to the Leslie Uggams version this time?]

    Justin’s bustin’ out all over.
    The lustin’ is heatin’ up the town.
    For this teamin’ with O’Brien
    Gets us steamin’ as we’re cryin’
    No denyin’ no one’s tryin’ to cool down.

    Cheer for Justin’s now all over
    Might be that the Tony’s Mr. Peck’s
    Though the purists thought his mission
    Might be touristy tradition,
    As they're watchin' what they’re wishin’ for is sex.

    With every tune, swoon, swoon, swoon!
    Broadway’s hot as June, June, June!

  12. Bitcoin isn’t meant to pay for physical goods. Cash and credit cards work well enough for that. Crypto is for unlocking digital first payment use cases.

  13. I am just waiting for good btc/ltc credit card, then i plan to keep some savings funds in cold wallet and checking online. It'll come soon enough

  14. This article helped me understand Bitcoin.

  15. It’s “My Fair Lady” day on my Playlist (five versions in rotation, including Hebrew) in honor of the Broadway “My Fair Lady” opening Thursday. So the Captain Obvious of parody lyrics with this subject today:

    Tune of “With a Little Bit of Luck” (My Fair Lady cast album version)

    The one I love said I should buy us dinner
    Then work it off here at the local gym.
    The one I love said I should buy us dinner and -
    With the aid of Bitcoin bucks
    With the aid of Bitcoin bucks
    I can work it off and stay real slim.

    With a little bit, with a little bit
    With a little Bitcoin luck, we’re fighting trim.

    The one I love said I should get a haircut
    And venture out for stylish shoes and socks.
    The one I love said I should get a haircut and -
    With the aid of Bitcoin bucks
    With the aid of Bitcoin bucks
    I’m be stylish while they cut my locks

    With a little bit, with a little bit
    With a little Bitcoin luck, they’ll coif my locks.
    With a little bit, with a little bit
    With a little bit of Bitcoin luck.

  16. A wee bit Bitcoin goes a long way in your skilled hands.

  17. Yup, it reminds me of my circa 1994 email address. Woefully inconvenient to set up and just shy of useless... first generation technology has a habit of being a punch line. Until it isn't.

  18. Well, cute article, but we are million light years from buying a pizza for a million BTC... guys we are not in 2014, please dig into the tech now: ETH, EOS, IOTA, NEO... would be much more interesting

  19. In 2014, I was providing Bitcoin services to Bodegas all over North Manhattan and the Bronx, however my small business has to be put in hiatus as the NYDFS came up with the Bitlicense.

    The Bitcoin foundation released this statement regarding NYDFS superintendent comments during the Conference of State Banking Supervisors. Superintendent Vullo stated that “by setting standards, we have made it possible for both startups and traditional financial service providers to pursue innovation in this area,” and that the regulation “created a channel for growing in the right way.”

    NYDFS statements couldn’t be further from the truth and this article wouldn’t be if my business was allowed to prosper.

    You can read the Bitcoin Foundation statement

    This paper has never ran a story about the Great Bitcoin exodus but instead talk about the low adoption rate amongst Bodegas.

    Actually they were the first around accepting them.

  20. Bitcoin is still in it's infancy and has so much further to go. It will probably be awhile before you can use it everywhere without getting weird looks. I do think that it is a great investment especially as it has dipped pretty low in the recent weeks. This article I read has made the most sense about Bitcoin's future going into the second half of 2018:

  21. The fact is that you can spend Bitcoin and other crypto easily if you get yourself one of the many VISA debit cards that support it right now like Shift Visa from Coinbase. You can also convert Bitcoin on the fly to over 300 digital gift cards with mobile apps like Gyft. I wish more journalists would actually look into those options, but I guess it wouldn't sound sonclick-bait and daring to "live on Bitcoin." Another thing, The reason it isn't more widely available is due to the onerous tax laws that require Bitcoin users to report every single expense in their taxes. In many parts of Europe and Asia, this take is more widely available, with 20 or more cryptos linked to Visa cards at checkout. Let's get it together USA, or Russia and China will take the lead.