Occupy Wall St. Debating whether convert funds over to Bitcoin

[bbit]

At least it's being mentioned ....

"The fights over financing are as varied as the protesters' reasons for protesting. Should the library buy the cheapest tables available or more sturdy, durable ones? Should the funds be spent on infrastructure in Manhattan or to help Occupy movements across the U.S.? Should all the money be converted to an alternative currency like Bitcoin?"

source: http://www.huffingtonpost.com/2011/10/24/occupy-wall-street-money-donated-tension_n_1029377.html

[ElectricMucus]

"...an alternative currency like Bitcoin?"

If you think about it that is a hilarious term. It will only occur in online journalism.  

[tvbcof]

At least it's being mentioned ....

"The fights over financing are as varied as the protesters' reasons for protesting. Should the library buy the cheapest tables available or more sturdy, durable ones? Should the funds be spent on infrastructure in Manhattan or to help Occupy movements across the U.S.? Should all the money be converted to an alternative currency like Bitcoin?"

source: http://www.huffingtonpost.com/2011/10/24/occupy-wall-street-money-donated-tension_n_1029377.html

Hmmm...it would be quite interesting if this formed some sort of a nuclease of a system whereby value was held as PM's where transactions within the economy were performed with Bitcoin.  In other words, Bitcoin is backed by PM's and is used mainly as a transfer and accounting tool (what I consider to be a 'currency') rather than a store of value in and of itself.

I better go read the article now...

[bitcoinminer]

They should at least blow it on booze and drugs, it will at least be more useful then the actual protests.

Harumph.  I vote drugs and hookers.

[deslok]

i'm inclinced to offer my webcam girl they could setup a projector.
in all seriousness though if they convert them all to bitcoin it'll get messy buying food and such since you can't do that same day.

[notme]

i'm inclinced to offer my webcam girl they could setup a projector.
in all seriousness though if they convert them all to bitcoin it'll get messy buying food and such since you can't do that same day.

There are a few restaurants already that accept BTC in NYC, and as soon as they start getting all the OWS business, their competitors will figure out how to accept them.

[klaus]

There are a few restaurants already that accept BTC in NYC, and as soon as they start getting all the OWS business, their competitors will figure out how to accept them.

1+ really true !

[Gabi]

i'm inclinced to offer my webcam girl they could setup a projector.
in all seriousness though if they convert them all to bitcoin it'll get messy buying food and such since you can't do that same day.

There are a few restaurants already that accept BTC in NYC, and as soon as they start getting all the OWS business, their competitors will figure out how to accept them.

^This

Thousands of people looking to buy food with btc? Restaurants and shops will hurry to accept btc!

[Raoul Duke]

Any body else thinks that most of the donation money came from wall street just to fuck them up and show them that a lot of money makes them miserable? lol

[sadpandatech]

Any body else thinks that most of the donation money came from wall street just to fuck them up and show them that a lot of money makes them miserable? lol

  Not sure if I'd subscribe to that level of conspiracy but it is likely wallstreet had the forsight to know that holding funds would subject some to legal issues. It has the capacity to 'single' people out and allows law to put a 'face' on the protestors more easily, imho.

  Edit; To fix a few typos.  of to if and laws to law

[AmpEater]

  Not sure of I'd subscribe to that level of conspiracy but it is likely wallstreet had the forsight to know that holding funds would subject some to legal issues. It has the capacity to 'single' people out and allows laws to put a 'face' on the protestors more easily, imho.

This is an interesting thought.

[johnj]

Any body else thinks that most of the donation money came from wall street just to fuck them up and show them that a lot of money makes them miserable? lol

  Not sure if I'd subscribe to that level of conspiracy but it is likely wallstreet had the forsight to know that holding funds would subject some to legal issues. It has the capacity to 'single' people out and allows law to put a 'face' on the protestors more easily, imho.

  Edit; To fix a few typos.  of to if and laws to law

Interesting, but I doubt 500k is 'a lot of money' to 'wallstreeters'.

That's like half a week of pay for some of the lowest paid(major) ceo's (i think)

[DeathAndTaxes]

Interesting, but I doubt 500k is 'a lot of money' to 'wallstreeters'.

That's like half a week of pay for some of the lowest paid(major) ceo's (i think)

A slight exaggeration

[johnj]

I guess you're right, slightly exaggerated, but according to

http://www.forbes.com/lists/2011/12/ceo-compensation-11_land.html

it's within range, and that's not accounting for the various stocks/benefits (outside of straight pay)

[GoWest]

At least it's being mentioned ....

"The fights over financing are as varied as the protesters' reasons for protesting. Should the library buy the cheapest tables available or more sturdy, durable ones? Should the funds be spent on infrastructure in Manhattan or to help Occupy movements across the U.S.? Should all the money be converted to an alternative currency like Bitcoin?"

source: http://www.huffingtonpost.com/2011/10/24/occupy-wall-street-money-donated-tension_n_1029377.html

This wasn't supposed to happen until Day 89!  Day 89, I said!

"Day 89: The Occupy Wall Street protests are now a nation-wide phenomenon. As the protesters increasingly shun the banks, Bitcoin becomes their predominant way of exchanging money amongst each other."

[Raoul Duke]

Any body else thinks that most of the donation money came from wall street just to fuck them up and show them that a lot of money makes them miserable? lol

  Not sure if I'd subscribe to that level of conspiracy but it is likely wallstreet had the forsight to know that holding funds would subject some to legal issues. It has the capacity to 'single' people out and allows law to put a 'face' on the protestors more easily, imho.

  Edit; To fix a few typos.  of to if and laws to law

Interesting, but I doubt 500k is 'a lot of money' to 'wallstreeters'.

That's like half a week of pay for some of the lowest paid(major) ceo's (i think)

But it is a lot of money to the losers that are there protesting, taking into account that most of them are students and homeless.

[damnek]

At least it's being mentioned ....

"The fights over financing are as varied as the protesters' reasons for protesting. Should the library buy the cheapest tables available or more sturdy, durable ones? Should the funds be spent on infrastructure in Manhattan or to help Occupy movements across the U.S.? Should all the money be converted to an alternative currency like Bitcoin?"

source: http://www.huffingtonpost.com/2011/10/24/occupy-wall-street-money-donated-tension_n_1029377.html

This wasn't supposed to happen until Day 89!  Day 89, I said!

"Day 89: The Occupy Wall Street protests are now a nation-wide phenomenon. As the protesters increasingly shun the banks, Bitcoin becomes their predominant way of exchanging money amongst each other."

LOL

[notme]

What day are we on?

[BTCurious]

What day are we on?

26
And they're not using bitcoin yet, so the prediction might still prove accurate.

[johnj]

What day are we on?

26
And they're not using bitcoin yet, so the prediction might still prove accurate.

If someone can set up shop to sell food and medical supplies, that might go a long way towards them using bitcoins.