Posted on 10/14/2021 7:03:31 AM PDT by ChicagoConservative27
Miami Mayor Francis Suarez (R) says he is moving forward with a proposal to pay city workers in bitcoin.
During an interview on Bloomberg Technology on Tuesday, Suarez said the city is will request a proposal this month to allow employees to get paid in bitcoin, and even allow residents to pay fees and even taxes in bitcoin if the county allows.
Suarez said it was a “major priority” for him as he wants to differentiate the city as a “crypto capital of the United States or of the world.”
(Excerpt) Read more at thehill.com ...
Those cost real money?
How is that going to work? Bitcoin is volatile, They pay you $100 today and tomorrow it may be worth $150 or $50. No thank, just pay $100 cash. That way I know it will be worth $50 tomorrow.
The Soviets payed people with vodka because communism creates poverty.
Get them drunk so they black out and die soon.
I think this mayor wants to use Crypto Coin as a form of currency investment. Plus, bragging rights to appear modern day and fiscally evolved. If it’s as an investment vehicle, I suspect caution is in order. A small sliver of the city porfolio could be used in that way. Same as one would do with precious metals. Anything too substantial may not be wise at this time.
They already do......................
Sounds like a pretty good way to launder Millions in drug money
Article I, Section 10, Clause 1:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Miami is not a State.
“ How is that going to work?”
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I think the proposal is to make it available as an OPTION. I suspect there would be relatively few takers.
pffft...Constitution is so, so, yesterday! What is wrong with you?
Suarez said it was a “major priority” for him as he wants to differentiate the city as a “crypto capital of the United States or of the world.”
So like Walmart is going to accept them at checkout?
The commission agreed to accept donations from MiamiCoin, which the city launched in August with CityCoins, Inc., a nonprofit that which allows municipalities to create cryptocurrencies,
It has pros and cons. In theory it keeps money local for local reinvestment instead of going to other centralized programs.
We have too much money in the power of too few people. Maybe it is time for this.
I would also add you can NEVER eliminate corruption. We have some influence as to whether it is local or centralized in the federal govt.
Right now we have way too much centralized corruption. Local corruption might be refreshing.
Not to say this mayor is corrupt, but eventually................. and we have a better chance of controlling local corruption?
Start by paying HIS salary in bitcoin, then come back in a year and see how it’s going.
Making it harder to trace things like kickbacks and bribes?
How long before the city is hacked and drained?
More than two nickles in one location and a city employee will find a way.
Probably using his city terminal and password...
But everything will be gone when they find him.
so the pay can fluctuate wi the price of BC?
say you get .X%BTC for pay but it goes up or worse, down, before you withdraw it
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