Posted on 11/04/2021 10:15:34 PM PDT by SeekAndFind
The newly elected mayor of New York City said he will receive his first three paychecks as mayor in the cryptocurrency Bitcoin .
Eric Adams tweeted in response to Miami Mayor Francis Suarez telling investor and entrepreneur Anthony Pompliano that he would take his next paycheck in Bitcoin. Adams, a Democrat, went a step further by announcing he would do the same but for his first three pay periods.
"In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor," Adams tweeted Thursday. "NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!"
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!— Eric Adams (@ericadamsfornyc) November 4, 2021
Adams also challenged Suarez to a friendly competition Wednesday, saying he would make New York City the cryptocurrency capital of the country.
Miami became the first city in the United States to create its own cryptocurrency, called "MiamiCoin," in August.
Adams, who won the mayoral election Tuesday, said he would look at opening the Big Apple up to more businesses.
“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams told Bloomberg . “Our agencies — they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere altogether. This is the Empire State, and we’re going to build empires.”
FROM ZERO HEDGE:
Adams, a Democrat, has said he wanted to turn New York into a crypto-friendly city and that he wants to explore a NYC Coin similar to Miami’s. In an interview on Bloomberg Radio after being elected mayor on Nov. 2, he wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency.
“He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out,” Adams said in a Wednesday interview on Bloomberg Radio. He vowed to “look at what’s preventing the growth of Bitcoin and cryptocurrency in our city.”
Adams also pledged to make New York City more business-friendly. In Brooklyn, where Adams has been borough president, there’s been a 356% increase in tech startups in a 10-year span, he said. In the past three months, he’s sat down with tech leaders, including those from Israeli and local companies, and two days ago, he met with 30 tech startups.
The NYPD former police captain said the city must build a pipeline of talent for crypto-related jobs, “because we can’t have a one-sided city where certain groups and areas are doing well.”
“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams said. “Our agencies - they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere all together....This is the Empire State, and we’re going to build empires,” he said.
Does AOC know this?
a democrat looking to drop taxes, fees, and fines on business and the average citizen?
i’m guessing they’ll kick him out of the party if he does it.
(maybe worse... they’re democrats after all)
It's untraceable by the govt.?
It's easier to evade taxes?
He knows that the U.S. dollar is doomed?
What is he trying to say?
Regards,
He’s a Democrat now but a former registered Republican.
How can he legally do that ? The Treasury doesn’t recognize it as currency and the IRS considers it property and therefore taxes it as capital gains. Unless there is something in New York law that allows him to barter ( which is what it is. He is receiving property for his services ). Since he doesn’t pay taxes until it is sold, this seems to me like this is tax avoidance since he could hold on to this for years and not sell it until he no longer lives in the city or state - thus avoiding those taxes.
He (Eric Adams) was a registered Republican in the 90s.
Maybe he’s an ‘assistant Republican’.
The bar has been set so low by NYC’s current/former mayor...anyone would be a step up. And from what I’ve seen Eric Adams has some good points and strong suits...he will be contrarian. Not just tow any party line.
Do you know if NYC or any other local US gov’t entity even has a process/procedure for doing business with cryptocurrency?
Seems to me that would require some taxpayer money to draft policy and develop regulations. Probably need need a new director with staff in place like NYC to head this kind of effort up.
An idiotic stunt.
All of NYC’s problems must be fixed for him to waste time with this….?
Well I guess he better hope that this uptick in activity of solar storms doesn’t come along with the big one and knock out all the electricity and whoops there goes the Internet.
He will still receive his paycheck in USD. He will probably do what Miami mayor and sports players have been doing and use mobile app Strike. Strike allows paycheck direct deposit and free, automatic conversion to BTC. They call their service “pay me in Bitcoin”.
Why don’t you donate it like Donald Trump did as President?
Donate it to help the businesses that have been destroyed by the Democrats . Donate it to help bring back the city that was.
Alright, so I guess Eric Adams beat Bill de Blasio.
It’ll be fun watching him spend a bitcoin at Safeway ... for the cameras, doncha know?
ping!
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