With no access to crypto, disgraced FTX founder Sam Bankman-Fried is now trading fish to pay for services in prison::Sam Bankman-Fried is now using mackerel fish as a means of exchange with other prisoners.
Well at least it’s proof of work
I prefer proof of steak
Anything but fiat, eh Sam?
There is a book about extreme economies. The author discusses it here: https://www.econtalk.org/richard-davies-on-extreme-economies/
They go through how the mackerel as money came about. Also, that expired mackerel, i.e. fiat, have their own lower exchange rate.
Take this🏅
Bernie Madoff cornered the market for Swiss Miss hot chocolate while in prison.
How does this work? The article mentioned the there is a limit of 8 per prisoner yet he was able to stockpile the whole supply. And they write articles about which implies the whole prison knows.
Why is this still ongoing, how is it allowed? This mofo still able to be a currupt capitalist even in hell.
Prison workers are not paid enough to care. If Bernie Madoff says “I’ll give you $20 to not stop me from monopolizing the hot chocolate powder”, well, $20 is $20.
And ten bucks is ten bucks. Heck,even five dollars still buys you a square burger if you wanna go to the other side of the dumpster
Buy Fi$hcoin. You heard it here first folks. YOLO!!
The first PoF-based coin (Proof of Fishing).
Because or oceans aren’t being destroyed fast enough!
I prefer Non-Fish Tokens.
“It didn’t take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York’s Metropolitan Detention Center.
On Thursday, the Wall Street Journal reported that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates.
The fish, popularly referred to as “macks” among inmates, has been the choice of currency in federal prisons since 2004, after cigarettes were banned, the Wall Street Journal previously reported”.
Look at Sammy Big Macks over here.
Let’s hope he doesn’t lose these customer’s funds! If he thought he could talk his way out of justice on the outside, he’ll be even more surprised about the justice system inside.
Not the Onion 🧅
So Hairy Plotter goes from Vegan to Fish sales man
Mackerel? Is the prison cooking scene in Goodfellas just the norm?
This is the best summary I could come up with:
It didn’t take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York’s Metropolitan Detention Center.
On Thursday, the Wall Street Journal reported that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates.
In 2013, he got his first intern gig at Jane Street Capital, swapping exchange-traded funds before co-founding his crypto trading firm Alameda Research in 2017.
The fish, popularly referred to as “macks” among inmates, has been the choice of currency in federal prisons since 2004, after cigarettes were banned, the Wall Street Journal previously reported.
Formerly incarcerated attorney Larry Levin accepted it as a form of payment from fellow prisoners he represented while serving his own sentence at the Lompoc correctional institution in California.
The trend became so popular that Global Source Marketing, a supplier of the fish, felt the increased demand, according to a 2008 story from the Journal.
The original article contains 387 words, the summary contains 159 words. Saved 59%. I’m a bot and I’m open source!
Thanks bot
Something’s fishy! 🤣
I get that it’s replaced cigs as the currency but my question I guess is… Why mackerel? You can’t just store multiple mackerel over time because it’ll just go off
I’d assumed it was tinned, that shit lasts forever.
Futurama taught me this